Cash will never be extinct even how much they would try... Cash will still remain because not all the places in the world is connected to internet or to mobile connection... there are many places in the world that are still remote where cryptocurrencies are never heard before. You might even lose your head if you say you'll gonna pay them with a cryptocurrency.
I have a little bit different opinion in this matter because I think the world is going to be taken over by technology in near future and all the things are going to be automated rather converted into digital form. Now that we have been introduced with crypto currencies which are a way faster than paper money transactions and a lot better in many other aspects, there is a possibility that we will live in a cashless society one day.
Topic: Does this mean Cash will be extinct? - page 39. (Read 14845 times)
A cashless society has been in the works for along time already. The powers that run this world are slowly getting their way, as the years have gone by I slowly watched the war on cash play out. Soon they will have their cashless system and then they will have total control over everyone in that system.
It is possible, but really this would mean that everybody must be connected to a sort of computer system that is all connected to each other as well. Which means possibly we need the power of the internet to do so. The problem is that there are countries (I guess all countries) where there are areas that does not even have a cellular signal. Then there are some countries that don't even have good electricity to begin win. Just imagine if we ditch cash and there is still those poor parts of Africa. That would be a great hassle for the whole world actually.
Eliminating paper fiat will have a measurably negative effect on economies. Paper money represents a more efficient form of transaction than electronic payment. For the poor who can't afford a cell phone or internet connection, paper money is their only hope of buying/selling. Getting rid of paper fiat makes transactions more difficult and also centralizes the currency aspect of economies which leads to monopolism. Centralizing power and influence in this way is strongly correlated with exploitation, predatory business practices and inequality.
Banning paper money will have a measurable negative effect on economic growth, unemployment, inflation, standard of living & other statistics. It will represent lost opportunity, a higher bar to entry for markets, greater difficulty in small businesses surviving and creating jobs. There's no upside or advantage in getting rid of paper money. And there are definitely many disadvantages.
That's why fiat currency should not be eliminated. Here in my country, poor people from mountains and provinces has difficulty in adapting trends about economy. They are fear from touching computers and eletronic gadgets because they are not trained to use that. If the physical money will be removed, people who can't afford android phone and don' know how to use computers will die. They can't buy some foods and it will become a global disastrous event. Poor people will suffer this changes. Many people doesn't know the reality in this world. They don't know the feeling of poor because they came from industrialized country. They don't know the word starvation.Banning paper money will have a measurable negative effect on economic growth, unemployment, inflation, standard of living & other statistics. It will represent lost opportunity, a higher bar to entry for markets, greater difficulty in small businesses surviving and creating jobs. There's no upside or advantage in getting rid of paper money. And there are definitely many disadvantages.
Sweden is contemplating to stop using cash by 2023, does this mean cash might be extinct if other countries follow suit?
https://www.weforum.org/agenda/2017/10/sweden-could-stop-using-cash-by-2023?utm_content=buffer40bef&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer
2023 is just way too soon for this to happen, and I do not think we have reached that digital age to cut off the use of cash completely, maybe two or more decades from now going digital should be no problem... as bitcoin and other blockchain projects are already ushering in this digital age Sweden seeks to have.https://www.weforum.org/agenda/2017/10/sweden-could-stop-using-cash-by-2023?utm_content=buffer40bef&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer
Sweden is contemplating to stop using cash by 2023, does this mean cash might be extinct if other countries follow suit?
https://www.weforum.org/agenda/2017/10/sweden-could-stop-using-cash-by-2023?utm_content=buffer40bef&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer
2023 is just way too soon for this to happen, and I do not think we have reached that digital age to cut off the use of cash completely, maybe two or more decades from now going digital should be no problem... as bitcoin and other blockchain projects are already ushering in this digital age Sweden seeks to have. https://www.weforum.org/agenda/2017/10/sweden-could-stop-using-cash-by-2023?utm_content=buffer40bef&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer
To me, cash will be removed from the earth by 2035 because the era is the technology era and we don't need paper banknotes anymore. This will take too much time to get in the new era, but I'm sure we'll do this within 15 years or so.
IMO, you are quite a bit over-optimistic. What about countries such as Congo and Angola, where the vast majority of the population doesn't know how to use a smartphone? Forget such countries. Even in developed nations such as the United States and Japan, you will find a lot of people who don't know how to perform digital transactions.
Many countries want to limit or see the disappearing cash but I do not think it's a good idea.
They want cash to disappear so they can watch more closely what you are doing with your money, they only want to monitor you more closely but cryptocurrencies are not what they want, it is true that with bitcoin you can see all the transactions of everyone so there is no privacy but the fact there is not control of who can get bitcoin and what they can do with it bothers governments.
I don't think the paper money will disappear. The electronic currency has indeed developed rapidly, and it may not take long, in some developed areas, that a large number of young people will be used to the use of electronic money. This is very possible, and it is happening in the world. But paper money will not disappear, many industries still only support paper money, and many places only accept cash. A simple example is that in a casino, it is impossible to pay every electronic payment, and the accumulation of chips is very psychological to the gamble.
Sweden is contemplating to stop using cash by 2023, does this mean cash might be extinct if other countries follow suit?
https://www.weforum.org/agenda/2017/10/sweden-could-stop-using-cash-by-2023?utm_content=buffer40bef&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer
https://www.weforum.org/agenda/2017/10/sweden-could-stop-using-cash-by-2023?utm_content=buffer40bef&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer
Cash will not be extinct and it will just stay here in our nation the majority of the people here in our world are using cash and they still prefer cash because of the ease of using it. I believe that people will not agree to that and also government will not agree to that. Maybe bitcoin is the number one valuable coin in the world,
Eliminating paper fiat will have a measurably negative effect on economies. Paper money represents a more efficient form of transaction than electronic payment. For the poor who can't afford a cell phone or internet connection, paper money is their only hope of buying/selling. Getting rid of paper fiat makes transactions more difficult and also centralizes the currency aspect of economies which leads to monopolism. Centralizing power and influence in this way is strongly correlated with exploitation, predatory business practices and inequality.
Banning paper money will have a measurable negative effect on economic growth, unemployment, inflation, standard of living & other statistics. It will represent lost opportunity, a higher bar to entry for markets, greater difficulty in small businesses surviving and creating jobs. There's no upside or advantage in getting rid of paper money. And there are definitely many disadvantages.
That's why fiat currency should not be eliminated. Here in my country, poor people from mountains and provinces has difficulty in adapting trends about economy. They are fear from touching computers and eletronic gadgets because they are not trained to use that. If the physical money will be removed, people who can't afford android phone and don' know how to use computers will die. They can't buy some foods and it will become a global disastrous event. Poor people will suffer this changes. Many people doesn't know the reality in this world. They don't know the feeling of poor because they came from industrialized country. They don't know the word starvation.Banning paper money will have a measurable negative effect on economic growth, unemployment, inflation, standard of living & other statistics. It will represent lost opportunity, a higher bar to entry for markets, greater difficulty in small businesses surviving and creating jobs. There's no upside or advantage in getting rid of paper money. And there are definitely many disadvantages.
Sweden is contemplating to stop using cash by 2023, does this mean cash might be extinct if other countries follow suit?
https://www.weforum.org/agenda/2017/10/sweden-could-stop-using-cash-by-2023?utm_content=buffer40bef&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer
Indeed, some countries will accept this kind of terms, but in my opinion a lot of countries still been accepting cash, because of not that big of techonology interest from goverments, I read that 80% of transactions are making by using cards https://www.weforum.org/agenda/2017/10/sweden-could-stop-using-cash-by-2023?utm_content=buffer40bef&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer
To me, cash will be removed from the earth by 2035 because the era is the technology era and we don't need paper banknotes anymore. This will take too much time to get in the new era, but I'm sure we'll do this within 15 years or so.
Sweden is contemplating to stop using cash by 2023, does this mean cash might be extinct if other countries follow suit?
https://www.weforum.org/agenda/2017/10/sweden-could-stop-using-cash-by-2023?utm_content=buffer40bef&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer
Indeed, some countries will accept this kind of terms, but in my opinion a lot of countries still been accepting cash, because of not that big of techonology interest from goverments, I read that 80% of transactions are making by using cards https://www.weforum.org/agenda/2017/10/sweden-could-stop-using-cash-by-2023?utm_content=buffer40bef&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer
Sweden is contemplating to stop using cash by 2023, does this mean cash might be extinct if other countries follow suit?
https://www.weforum.org/agenda/2017/10/sweden-could-stop-using-cash-by-2023?utm_content=buffer40bef&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer
https://www.weforum.org/agenda/2017/10/sweden-could-stop-using-cash-by-2023?utm_content=buffer40bef&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer
This is impossible if the government will not support and encourage everyone to use btc. And everyone are using cash, so it is impossible to permanently eliminate cash right away.
Sweden is contemplating to stop using cash by 2023, does this mean cash might be extinct if other countries follow suit?
https://www.weforum.org/agenda/2017/10/sweden-could-stop-using-cash-by-2023?utm_content=buffer40bef&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer
https://www.weforum.org/agenda/2017/10/sweden-could-stop-using-cash-by-2023?utm_content=buffer40bef&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer
This is impossible if the government will not support and encourage everyone to use btc. And everyone are using cash, so it is impossible to permanently eliminate cash right away.
Sweden is contemplating to stop using cash by 2023, does this mean cash might be extinct if other countries follow suit?
https://www.weforum.org/agenda/2017/10/sweden-could-stop-using-cash-by-2023?utm_content=buffer40bef&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer
https://www.weforum.org/agenda/2017/10/sweden-could-stop-using-cash-by-2023?utm_content=buffer40bef&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer
eliminating fiat money or cash is not gonna happen as of now why? this will cause bigger economic problems because a lot of business and people still rely on fiat money our basic need like food water shelter are purchasable by fiat money, yes it could also be purchase by digital money but as of now there are no guarantees that all will follow and use the same thing..
As much as a cryptocurrency based economy in the future sounds cool and fancy, like a common proverb says, it may sound good on paper, but in practice, nah. A huge nah. This would affect any country's economy very negatively. Also keep in mind that the Nordic countries are not exactly perfect in every sense, some things they do are not exactly to be followed upon, for instance Sweden's rather questionable tolerance policies. Whenever you are progressive or not, uncontrolled immigration isn't exactly a good way to fill up any demographic holes in your population.
Talking is always easier than doing 
). I don't think any country in the world can stop people in their country using cash. They can change the new cash or something like that but stop using cash in their country I think it's totally impossible unless they legalize cryptocurrency in their country. LOL. But it's not also easy to legalize any cryptocurrency for now so don't worry about this case, it'll take at least 100 years more to be able to be true )
). I don't think any country in the world can stop people in their country using cash. They can change the new cash or something like that but stop using cash in their country I think it's totally impossible unless they legalize cryptocurrency in their country. LOL. But it's not also easy to legalize any cryptocurrency for now so don't worry about this case, it'll take at least 100 years more to be able to be true ) 
Essentially that is what this means yup. There may be some cash around as souevnirs and to remember that past but other than those artifacts before I am 50 I expect the more advanced nations to phase out cash. Can't say the same will happen for undeveloped nations but being in the age of digital world if everybody has a smartphone and internet then it could happen much sooner too.
Bitcoin and fiat currencies are two totally different entities. Both have their own advantages and disadvantages. People use both currencies for different purposes. Both these currencies are important for economies. Countries with developed economies used bitcoins because they already have setup required for bitcoin currency. However developing or third world countries cant afford this setup fot them fiat currency is the only and best option. So bitcoin cannot reach to every class of economy so it will never extinct cash or fiat currency.
Removal of fiat is almost certain to happen sooner or later in majority of developed countries. I would be hesitant to estimate, whether it would be a good or bad sign, though. Cash has it's place and purpose. And it cannot be wired instantly from your pocket to some hacker lol 
It could actually happen in undeveloped countries much earlier than in developed countries. There's this whole issue with "the unbanked", which could be solved by cryptocurrencies and thus eliminating cash in those economies. Jump to: