Does this mean Cash will be extinct? - page 48.

Krillin61

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Quote from: babsalt1975 on October 11, 2017, 07:12:47 AM

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

I don't think so, cash will never be vanish since most of the people are still prefer to use it as mode of payment because it is convinient to use in everyday life. Besides, most of the store are still prefer to use bitcoin upon their transaction. There's a possibility that that there will be an another mode of payment however, cash will never perish.

Kadal Ijo

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Yes gradually cash will be extinct, now everyone uses digital money for transactions, we rarely find people carrying bags containing money, everything is only done with a piece of check paper, billet or giro.

L00n3y

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Quote from: babsalt1975 on October 11, 2017, 07:12:47 AM

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

Whats good for Sweden(if it would do them good) may not be good for other countries when it comes to eradicating cash. Especially on third world countries who can not do away with transactions that involves the flow of cash

PizzaBTC

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Quote from: Ashong Salonga on November 07, 2017, 10:17:12 AM

Quote from: babsalt1975 on October 11, 2017, 07:12:47 AM

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

No. Cash would not be extinct because we all know that bitcoin isn't a threat to cash because somehow we can say that they are both helping each other in terms of earnings for other and we can see that bitcoin isn't that had a lot of supply which are not just like the cash which monthly creating supplies.

Yeah it is up to the area and the place where you are living if you are living at the well developed area you can use the bitcoin at the high level and the cash maybe get vanish but if you are living at the low background area you will see how the bitcoin is increasing and the this is the time to increase more in the bitcoin value and the price I hope the future will be bright and the cash will get vanish and the people will use the crypto currency only.

BTCMILLIONAIRE

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Quote from: Wade_Oasis on November 13, 2017, 01:34:25 AM

Oh God. For me, I would prefer using CASH than any other for now, because I don't think I would ever use something that is dependent to online internet and the interwebs. And not everyone in this Earth have the capability to use the form of bitcoin. It's going to be a long process before that happens.

Your cash will be worthless if the internet suddenly dies, because the whole economy would collapse.

Wade_Oasis

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Oh God. For me, I would prefer using CASH than any other for now, because I don't think I would ever use something that is dependent to online internet and the interwebs. And not everyone in this Earth have the capability to use the form of bitcoin. It's going to be a long process before that happens.

Malaya

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This may or may not happened. Cash may extinct for the reason of a lot of cryptocurrencies has been well adopted by the masses. Cash might be also not of real use during that time. Years may pass, bitcoin might make it's his history of it's own. Eventhough countries like Sweden have embraced bitcoin really well, the same will apply to different parts of the world.

supercanada1

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Quote from: Eternu on November 06, 2017, 01:40:07 PM

Quote from: BitcoinMarketer39 on November 05, 2017, 12:18:15 PM

Quote from: dlhezter on October 14, 2017, 05:45:06 PM

to face out all fiat money on one country is not necessary, how about those anyone or anybody that who cant afford to buy gadgets and provide a internet connection, how do they live. i mean how do they make transaction on the physical market to buy or sell goods just to live? this idea is non sense. fiat money is important too and i think more country not to follow if that happens.

I agree to your statement, Not everyone is capable of earning bitcoins consistently and they will change it immediately. The countries economy will obviously crash so its better to stay in fiat and live a normal life. You can still earn more profit in bitcoins without changing the countries currency.

I agree with you guys, there are more than a few problems about Bitcoin that needs to be solved first, if we think to use Bitcoin for day to day things. Most people look on Bitcoin just because it provides them with easy income, and they say they support Bitcoin. But they do not know basic things about it, they do not think about people that do not have technology to use it. So Fiat currencies will stay in our life for at least 10+ years.

It is right that money is being use by all the people but we cannot deny that the bitcoin is also very important as the side source for the bitcoin earning I can see how fast the value and the price of the bitcoin is increasing so I can see how the bitcoin is being use the worldwide and now the cash needs to go for the shopping but buy bitcoin and the online shopping can be done just even staying at hope so the bitcoin is the best currency of the future for me.

Iiivey0urIifee

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After I buy Blocknet shares with let's imagine, Turn invisible, will the primary revenue be originating from Turn invisible? If so, is it best to buy shares with multiple coins?

jonatuzc

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Quote from: Meowth05 on November 05, 2017, 08:55:19 AM

Quote from: babsalt1975 on October 11, 2017, 07:12:47 AM

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

No I don't think so because paying with cash is embeded in our daily life. Paying with cash cannot be remove nor vanish because it is the old way mode of payment. Most of the people are much prefer to use cash instead on digital currency because store are mostly accepting a fiat as payment.

Yeah this is not good because all the people are not aware of the use of the crypto currency as well. It is not good to have the bitcoin but the value of the bitcoin will increase more and more. This is the reason why all people do not trust the bitcoin.

I hope the dream of the bitcoin will come true but at the same time I think the value of the bitcoin will increase with the passage of the time I hope this is the best thing for the bitcoin.

BTCMILLIONAIRE

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Quote from: 2fresh on November 11, 2017, 11:25:17 AM

Very bad idea if this would ever happen, we will have to give up another part of our freedom which already seems to be fading away in so many ways.

I don't see how getting rid of Cash would impede on our freedom, as long as it's not replaced by purely fiat transactions.

2fresh

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Very bad idea if this would ever happen, we will have to give up another part of our freedom which already seems to be fading away in so many ways.

AjithBtc

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Quote from: Tubig on November 11, 2017, 10:28:38 AM

Quote from: babsalt1975 on October 11, 2017, 07:12:47 AM

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

It can be possible that more of the people will use digital currency, but I consider the fiat money as traditional money that anyone will use and will not be vanished. Especially not all countries will support it, because of the scarcity of materials and technology.

As in the statement bitcoin won't make cash go extinct, because at present nothing is possible without cash as the transaction medium. It requires more time to have bitcoin as the directly acceptable currency. Even at present the value of bitcoin is in terms of fiat count. So here itself it's clear that cash won't go out of usage.

mifanmuzny

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extinction of fiat currency is already started happening. now its the matter of time.

Tubig

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Quote from: babsalt1975 on October 11, 2017, 07:12:47 AM

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

It can be possible that more of the people will use digital currency, but I consider the fiat money as traditional money that anyone will use and will not be vanished. Especially not all countries will support it, because of the scarcity of materials and technology.

West0813

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Fiat will never be extinct in this world. Because fiat is a big part of our daily life. And only a rich and advance country can make fiat disappear in their country.

magmar

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Quote from: babsalt1975 on October 11, 2017, 07:12:47 AM

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

It is hard to say but yes it will be extinct, faced out, or whatever you called it but it will never be used anymore in the future. Because our world is innovating things, making the world much convenient and much technology related because it is much easier to used and less hassle because if you wanted to have a lot of money in yours it might be a little bulky in your pocket and you will always bring you wallet in you which you often drop. While if you have digital currency all of your money will be stored in your account, whatever technology you are using, mobile phones tablets etc. You can easily carry your koney with you.

KEPLER99

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Quote from: goaldigger on November 06, 2017, 08:15:48 AM

I can clearly imagine what a world would be without using cash or fiat as the medium of exchange. As what you say that Sweden is planning to faceout fiat, i think it is possible. Other countries will eventually do this if Sweden succeeded. Just think of all the convinient things you can experience with today's technology.

Exactly! There is no way that we can deny the worth of paper money. People are using paper money since centuries and they actually believe in paper money. With the advancement in technology, things Rae changing a lot but this does not certainly means that cash is going to extinct. Paper money is the fundamental need of any society and it will remain in the society no matter what the conditions are.

nethan1btc

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Quote from: zeaderza on November 11, 2017, 04:22:39 AM

Quote from: BTCMILLIONAIRE on November 04, 2017, 11:38:09 PM

Quote from: LordDisick on November 04, 2017, 11:35:31 PM

Quote from: appleffi on November 03, 2017, 07:56:31 PM

Cash depends on the government of one's country. They are the one's who regulate the flow of the money within the premises of their country. Thus they are the only ones who can decide and the first one who knows that cash is already extinct.

Yeah right, in every country its all up to their government to change their currency from cash/fiat to digital. It doesn't mean that since Sweden are planning to eliminate cash it also applies to other country its a case to case basis. Maybe in sweden cryptocurrency are legal their. In my own opinion cash will not going to be instinct anytime soon.

Fiat can be digital, cash can not.

Agreed! There is no way that we can see a cashless society. There is no reason to deny this fact that crypto currency is really a very good way of making money but we cannot deny the worth of paper money too. People are using paper money since centuries and they will continue to use it no matter what the conditions will be. I don’t this so that this thing will ever happen in future.

Yes you're right, even the cryptocurrency doing good enough of making money, easy to transact and easy way to pay any payments bill but we really can't deny the fiat currency because it is traditionally used in the people in such a long time since centuries. And I think replacing cash or fiat currency is gonna take along way before actually happening.

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Quote from: babsalt1975 on October 11, 2017, 07:12:47 AM

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

Will,in my own opinion cash would not be extinct,in my own country as long its not regulated by the our own government,because they didn't recognize it,unlike in the sweden they open up the modernazation given by the digital currency,thats why they have a vision that in the future they would not used fiat in all transaction.

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