Let's hope so, IMO cash is an outdated mean of storing value, too many limations, and risks when we allow central entities to determine de supply (hyperinflation). Physical cash is on it's way out, some countries have already set dates to be cashless states.
By cash going extinct, it means that some economies of the world are going to go extinct as well and secondly, the countries of the world would have to create bitcoin for the specific economies and if all of them follow the same trend then i believe that we will stop using cash.
Topic: Does this mean Cash will be extinct? - page 64. (Read 14862 times)
Let's hope so, IMO cash is an outdated mean of storing value, too many limations, and risks when we allow central entities to determine de supply (hyperinflation). Physical cash is on it's way out, some countries have already set dates to be cashless states.
By cash going extinct, it means that some economies of the world are going to go extinct as well and secondly, the countries of the world would have to create bitcoin for the specific economies and if all of them follow the same trend then i believe that we will stop using cash.
Let's hope so, IMO cash is an outdated mean of storing value, too many limations, and risks when we allow central entities to determine de supply (hyperinflation). Physical cash is on it's way out, some countries have already set dates to be cashless states.
By cash going extinct, it means that some economies of the world are going to go extinct as well and secondly, the countries of the world would have to create bitcoin for the specific economies and if all of them follow the same trend then i believe that we will stop using cash. 
Let's hope so, IMO cash is an outdated mean of storing value, too many limations, and risks when we allow central entities to determine de supply (hyperinflation). Physical cash is on it's way out, some countries have already set dates to be cashless states.
I don't understand why this topic kept coming up. This is pure speculation. It is impossible fot FIAT money to be phased out and replaced by cryptocurrencies. The flow of economy will be disrupted if this happens and it will not only affect Sweden but the whole world. Electronic money can be used for transactions but it will never be the main medium of exchange. That is just too impossible.
No it is not the reason the value of the bitcoin is increasing more and more. If you will buy the bitcoin you will buy the bitcoin for the long time you will get the chance to increase the value. All the people want to know the reason of the increasing price of the bitcoin, I am having the huge profit from nit but now the value of the bitcoin is increasing. In the past the bitcoin was not common as compare to the other currency but now the bitcoin is getting famous more than the other currencies. If this happen all people should know the basic of computer.It takes many more years to do that,maybe if that would be successful it would be the basis of other countries to follow that system.Well gudluck for them.
It doesn't take many years to do that. Toddlers are literally growing up with super computers (smartphones) in their hands these days.
If this happen all people should know the basic of computer.It takes many more years to do that,maybe if that would be successful it would be the basis of other countries to follow that system.Well gudluck for them.
It doesn't take many years to do that. Toddlers are literally growing up with super computers (smartphones) in their hands these days.
Not necessarily cash shoyld be extinct, but maybe bitcoin will be of much value than having cash. Remember you cant buy goods in the market through bitcoin, there is gap to be used in bitcoin and cash.
I don't think cash / fiat money is going away anytime soon. Many countries are still very reliant on physical currency and credit cards are still a suspicious piece of technology for those who haven't spent some time reading up on them. Bitcoin / crypto / virtual currency is still fairly new to the point where financial institutions are still either badmouthing it or barely embracing the blockchain technology.
That's right, there will not be extinction of cash just yet even though cryptocurrencies seem to be heading the way into the future. The governments around the world always wants to control their central bank and by extension their local fiats and so for them to do away with the power of regulating their local fiat is going to be difficult and so I don't see the extinction of cash.
I don't think cash / fiat money is going away anytime soon. Many countries are still very reliant on physical currency and credit cards are still a suspicious piece of technology for those who haven't spent some time reading up on them. Bitcoin / crypto / virtual currency is still fairly new to the point where financial institutions are still either badmouthing it or barely embracing the blockchain technology.
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
Probably. I think that bitcoin and cash works thhe same, only cash has physical form. Also, it’s about time that we stop using cash, to avoid thives and robbery. Technology is evolving everyday. So, it is possible.
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
Probably. I think that bitcoin and cash works thhe same, only cash has physical form. Also, it’s about time that we stop using cash, to avoid thives and robbery. Technology is evolving everyday. So, it is possible.
If this happen all people should know the basic of computer.It takes many more years to do that,maybe if that would be successful it would be the basis of other countries to follow that system.Well gudluck for them.
It doesn't take many years to do that. Toddlers are literally growing up with super computers (smartphones) in their hands these days.
If this happen all people should know the basic of computer.It takes many more years to do that,maybe if that would be successful it would be the basis of other countries to follow that system.Well gudluck for them.
It doesn't take many years to do that. Toddlers are literally growing up with super computers (smartphones) in their hands these days.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
The Nordic nations tend to be first at implementing such schemes so I think it would take 5-10 years for the rest to follow. Troubling news, though we kinda expected this to happen anyway. Once we started dealing with our money using cards, it's really just a short step to outright removing physical fiat.
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
First off, good read. However, I must say that it's a long shot. Extinction of cash, especially if its the primary means to purchase things all over the world even with the onset of using "plastic" or cards, or digital currencies like bitcoins. People are still more comfortable with using the traditional means and some would still think that it's reliability can't be compared to other means, which is why although bitcoins has been receiving good recognition in different countries, it would still take time before it can become a mainstream currency.
In my opinion, the abolition of cash is a bad idea that will only disrupt the economic system of a country. Because not all transactions can use crypto currency, and people can not fully access the digital money system (Bitcoin). There are many obstacles to migrating from fiat money to crypto money.
Certainly it’s difficult going from cash to crypto currency, and I see no crypto technology (as of now) capable of competing, even remotely, with the speed and ease of cash. The article is also not about that. It’s about dropping physical cash, and using digital delivering of cash instead, namely credit card and Mobil pay (and net bank). All of these payment methods already (for years) have surpassed physical cash in volume in everyday usage in the Nordic countries.
If we were taking globally, then yes, but not in our lifetime.
Sweden is only one of the few countries that are already practicing a 'cashless society'. Scandinavian countries, are another. But, some parts of the world don't even practice a credit system.
Even most developed countries like America and Japan are still reliable to paper bills for their day-to-day transactions.
There is a possibility, and digital currency is helping create that vision. Cheers!
Japan is one of the few developed countries that still uses cash extensively, which was quite a surprise for me the first time I went there. I even had to pay rent in cash at the bank and couldn't just wire transfer it... Wasn't exactly fun having to go to the bank or a convenience store every month just to pay bills.Sweden is only one of the few countries that are already practicing a 'cashless society'. Scandinavian countries, are another. But, some parts of the world don't even practice a credit system.
Even most developed countries like America and Japan are still reliable to paper bills for their day-to-day transactions.
There is a possibility, and digital currency is helping create that vision. Cheers!
If we were taking globally, then yes, but not in our lifetime.
Sweden is only one of the few countries that are already practicing a 'cashless society'. Scandinavian countries, are another. But, some parts of the world don't even practice a credit system.
Even most developed countries like America and Japan are still reliable to paper bills for their day-to-day transactions.
There is a possibility, and digital currency is helping create that vision. Cheers!
Japan is one of the few developed countries that still uses cash extensively, which was quite a surprise for me the first time I went there. I even had to pay rent in cash at the bank and couldn't just wire transfer it... Wasn't exactly fun having to go to the bank or a convenience store every month just to pay bills. Sweden is only one of the few countries that are already practicing a 'cashless society'. Scandinavian countries, are another. But, some parts of the world don't even practice a credit system.
Even most developed countries like America and Japan are still reliable to paper bills for their day-to-day transactions.
There is a possibility, and digital currency is helping create that vision. Cheers!
In my opinion, the abolition of cash is a bad idea that will only disrupt the economic system of a country. Because not all transactions can use crypto currency, and people can not fully access the digital money system (Bitcoin). There are many obstacles to migrating from fiat money to crypto money.
Certainly it’s difficult going from cash to crypto currency, and I see no crypto technology (as of now) capable of competing, even remotely, with the speed and ease of cash. The article is also not about that. It’s about dropping physical cash, and using digital delivering of cash instead, namely credit card and Mobil pay (and net bank). All of these payment methods already (for years) have surpassed physical cash in volume in everyday usage in the Nordic countries.
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