Topic: Does this mean Cash will be extinct? - page 68. (Read 14862 times)

Don't underestimate the state. I rarely use cash that much anymore with all these credit and debit cards. I still use cash... mostly just to pay the bills since we have a small business. Had I been a regular employee, I'd probably just have my salary sent to my account and pay my bills from there. We are slowly getting there, so the more we need wider bitcoin acceptance.

Maybe one day , when digital world conquers the real one , cash will be extinct. It’ll happen when the internet takes over all other power and trading becomes only digital . But for now , i believe it’s both difficult and hard to be achieved

I don't think that you understand what is the thread all about. Cash and fiat is the same and they are just different with the spelling or the term used in this thread and i believe that even there will be a lot of years to pass, cash will not be extinct and that is why it is better to just have both cryptocurrencies and fiat/cash because it is not a loser's move but a wise man move.

I'm pretty sure that fiat will stay around for a long time. But cash should disappear much earlier than fiat currencies (if they ever disappear). Cash is expensive (to create) and inconvenient (to use). Even digital fiat is a big upgrade despite its vastly higher costs than blockchain equivalents.

Well i don't know this but i think that it will also be a huge change if fiats will be totally eliminated in the society, but firstly maybe its too impossible also for now to depend only in bitcoin, and expecting as early as possible that fiats will be removed or be eliminated in the economy.

In relevant with the adoption of new technology, we can say that cash is over powered by digital currency in some aspects but then is not enough to wipe out fiat currency into nothing. Stability of bitcoin price in the market is the only thing that bitcoin don't have a chance to become  globally used and defeated fiat money.

I don't think cash will be totally extinct in coming future because cash is the primary way to exchange credits from large amount of time and many people have adapted to it so the will not leave the use of cash very easily it will take very large time to do this. But cash and digital currency can work hand in hand in all aspects very easily so i think that most of the transaction in coming future will be online or will be done with the help of digital money.

Digital money in growing as we can see the high price of bitcoin now. By looking at this we can say that digital money has a very great future but we cannot say that it will totally replace digital money in coming future.

i am glad that people have more option to how they can make money and they can earn money from bitcoin and although bitcoin is not yet used in real life but people still can do many things to make money from bitcoin. people is prefer for use fiat currency is because bitcoin is not yet legalized in every country and they still trust in fiat but we can do other things to earn money which is for doing something else from bitcoin.

Sweden is regarded as country on the developed stage, which means that their technological and economic standards are higher compared than most of the countries around the world. Due to this reason, they have all the means on developing revolutionary methods of payment through the use of virtual currency.

Like what you guys said, every country has their own economic standing and those who are still on the "developing stage" cannot adapt the payment system via virtual currency due to having lack of technological advancements and different priorities to consider. Cash cannot become extinct YET since countries who are on the far side of the straw would cause chaos in the world market, and economy.

I agree with you, even though bitcion is being tough now but in my own observation many people are still prefered of using fiat currency. Anyway, we have freedom to choice either fiat or digital currency to used since isn't mandatory by the government.

Sweden is a developed country, and there's no surprise they're going to go cashless and use e-money in the near future. There's also no surprise if other big and developed countries will follow that. But I don't think ALL countries or MOST countries will follow that trend, considering that only few countries are developed and most are still in the developing stage.

In general, extinction of cash doesn't seem to happen right now and in the coming centuries. Not all people can afford to have the high-tech gadgets or cards which can be used to make transactions without cash. Just imagine children who want to buy candy in the store using a mobile phone or card.

Bitcoins (or any altcoin) is not going to replace cash, because they are completely unsuited for it. You need instant transaction / confirmation and zero or close to zero fee. You can’t wait for a block to be mined before your transaction goes though!, even if it only takes a minute.  New coins that want to take on cash needs a whole other ballgame of thinking. Block chain technology is completely unsuited to rival cash in transactions speed and ease.

You already got a well working digital delivering system for cash, its called credit card or Mobil pay. That is what the article is talking about. What the article is talking about is already happening and has been for the last 10 years is all Nordic countries. Cash (as paper) will be gone by 95% within 10 years in all those countries for sure. Personally I have not used a cash coin in any transaction for 6 month, have not used a bill for 2 month in any transaction.

Credit card, wireless credit card and Mobil pay is everywhere in these countries, and I do mean everywhere. It is nearly impossible to find a place where you cannot pay with one or more of these options. Scary as it might seem, at least in Denmark, ATM’s are rapid disappearing from the streets, they are not needed anymore. 8 out of 10 banks do not take cash anymore, nor can you get cash from banks.

Investors don't use cash whatsoever.... If cash disappears it doesn't mean that fiat currencies will disappear with it.

Cash is the major way to buy crypto currency and there is no such possibility in this to the wiping out of cash because as cash will be gone there will be no more investors because they have no resource to buy so cash has an importance also so those who are saying that it will be wiped out as cryptosystem will be implemented, they are at saying right but that time is bit far from now.

Sweden is going to set the trend of the virtual money and this will be awesome and other countries will also adopt it if there is benefit in digital system in my thinking bitcoin system will be implemented soon because people wants to get rid of cash and they want a unique currency accepted all over the world, this will be revolutionary thing and will change the economic condition of countries also.

Cash will remain on throne for more 5 to 6 years and then after that there will be a revolutionary change In world because that will be time when everyone is using bitcoin and then everyone will accept it open heartedly cash is going toward its fate and now people are demanding a digital currency and bitcoin has all the abilities to replace cash and it will.

This is something very much difficult to comment on. There are 50 50 chances of both the things. it can be possible to see a cashless society in the future while on the other hand it can be our dream only to see a society without having paper money. There are so many users of paper money and it is really a difficult job to convince each and every one of them.

Indeed in the near future people are going to minimize the use of paper money because it is really not easy to deal with paper money. If you have cash in large amount, it is really difficult to save it properly. Moreover we are now living in a global village where things need to be done at fats speed and for this purpose there is no other option best than bitcoin. People love going cashless now.

That could be possible only on 1st world countries only, yet, to these contries where the technology is readily available, then I think its just a matter of legality. But to third world countries, this idea is not gonna happen anytime soon, knowing the stability of the country aswell as the technology thats been slowly rising.

Yes that is right but still i think it is not so easy, because bitcoin is not so common and therefore it is not providing us the opportunities that we have while using fiat. i think currently it is difficult to say that bitcoin will replace fiat so soon. i think it will take decades may be more than half century. because still majority of people do not know anything about bitcoin.