Does this mean Cash will be extinct? - page 5.

bitcoinsocial09

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Quote from: babsalt1975 on October 11, 2017, 06:12:47 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 think it will not totally extinct. There still a paper money will exist because it still hard to us to accept it in jist a little time. But it will happen we need to face the changes in the world so that we can move forward.

chengyinoing

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One day, the position of cash will be replaced by electronic clearing. But cash will continue to play its part. In the future, settlement transactions can be done almost entirely by electronic accounts.

alexsandria

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Quote from: dlhezter on October 14, 2017, 04:45:06 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 don’t think this idea would be applicable. Fiat money have been part of our lives for so long while digital currencies are just new and still developing. It could be convenient for many but not everyone are into the digital/online world.

fanita

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money will not go extinct forever because it will be replaced with digital money, and all will be digital based and will change with the advancement of technology as it is today. all using digital currency to make transactions or buy goods or sell goods just to live? this idea does not make sense. paper money is also important and I think more countries will not follow if that happens.

Blackmet

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I am not sure that cash will be extinct everywhere just because of one country. At my opinion many countries will start following Sweden to understand how good digital system is.

jblittle00

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If you really think about it, we have been operating with digital currency for years. Our bank statements are digital. We transfer money digitally via wires, PayPal, Venmo, etc. How often do you really go into your bank to pull out cash? In fact, if you went into your bank and asked for $100k, they wouldn't have it. I remember the crash of 2008 and everyone was running into Chase to pull cash and and they had none left to give. We just assume that when you see your bank statement and it says you have $X available, it means that it's sitting there, in your account, waiting for you. But that's NOT the case. We've been in digital currency for the last decade with large financial institutions, yet we're paying them even MORE to manage our money, even though their entire process has been made much easier and less costly via digital banking. None of us should be surprised that cryptocurrency is here.

taxli

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I do not think we will ever get to the point when we are ready to completely resign from regular money i.e cash because that is the first payment option ever accepted by countries all over the world and if we decide to replace it with the bitcoin it brings us to unbelievably long process.

Mikospark

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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.

mstfprcn

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People can just use credit and debit cards if they stop using cash.if people with no cash take up loans to buy things, they will have to pay a lot in interest and will end up heavily in debt.So,They use cash for day to day transactions.So cash cannot vanish from the world.

reverseflash

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Quote from: Novalagungs00 on May 14, 2018, 12:04:30 PM

Probably in some countries they will reduce usage of cash, but it won't lead to its extinction. I personally see no reasons to exclude cash from our everyday life.
But if it happens, we'll be under the total control.

In it there is also one of the reasons for transition to exclusively electronic payments - control. The state wants to see how many you earn and what you spend for.

Rebisco

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Quote from: babsalt1975 on October 11, 2017, 06:12:47 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

Cash will not be extinct. Cash has important function in our economy. It is not good if cash will disappear because there will be financial problem that will exist. People will not let cash to disappear.

Novalagungs00

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Probably in some countries they will reduce usage of cash, but it won't lead to its extinction. I personally see no reasons to exclude cash from our everyday life.
But if it happens, we'll be under the total control.

sinta23

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Quote from: babsalt1975 on October 11, 2017, 06:12:47 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

yes it could happen, because cash is also not used anymore, so it should be my personal cash must run, because the cash is also easier for us in using it, such as purchases in small stalls, because it is impossible if the stalls small it uses the card as a purchase tool.

Bitcoinbitcoin0909

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Quote from: babsalt1975 on October 11, 2017, 06:12:47 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 possible but I think that is so far from happening still knowing that fiat and cryptocurrency have some good relationship right now which means they are helping each other but still the favor is with the cryptocurrency. We should keep on investing on crypto so that when the time comes that cash is already extinct, we won't have a hard time anymore.

emerejames

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It is impossible, there is no way a country can do without cash, because it is not every body that is educated to do a transaction. for instance there still people in a country that don't care to have a bank account up till now, so without account how can someone have a card to use. so even if the whole world will go cashless it will take time.

Crypto_4eva

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I would expect 1 point in the future for paper money to stop and a number in a bank balance approach to be adopted like digital currency

cryptoalfs76

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Quote from: babsalt1975 on October 11, 2017, 06:12:47 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

Actually this is only an future vision of the country of sweden,maybe happen in the future or not,the important is in that situation cryptocurrency still exist in year 2023, and by that means digital currency investment is still moving forward to continue its legacy.actualy the extinct of the money is hard to do for us now,because its is the main source of trading especially in the bank,and the real sources of progressive economy,but if this the purpose in the country of sweden will its great.

tony kurniawan

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Quote from: babsalt1975 on October 11, 2017, 06:12:47 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

The possibility of fiat money will be replaced with crypto money, but the time of occurrence is difficult to predict. We all know fiat money is in the control of a country as a means of legal transactions, of course the state will maintain paper money.

Lehbane

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I don't thinks so that cash or paper money will extinct if this year comes, it only means that there will be a major changes when it comes of using Fiat and Altcoin in every country.

taxli

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There is no way for it to happen overnight because to speed up this process we need to provide the whole world with the Internet connection.

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