Topic: Does this mean Cash will be extinct? - page 7. (Read 14845 times)
we have to think is the transaction is done all people of different age and level of education let alone in third country that still found people can not read let alone use internet, of course with that consideration then country will not let cash be extinct.
I have some other link that will positively expand your perspective on this , i somehow think what will be the world if the cash or the fiat will be extinct at the same time out of the blue i think its better , it's easier , and not hassle though , but then again here is the link feel free to look at.
Link: http://www.thisismoney.co.uk/money/bills/article-4739034/Will-paying-cash-soon-extinct.html
Link: http://www.thisismoney.co.uk/money/bills/article-4739034/Will-paying-cash-soon-extinct.html
I think it will not happen, why?
because, Eliminating fiat paper will have a measurable negative effect on the economy. Paper money is a more efficient form of transactions than electronic payment.
paper money is also important and I think more countries will not follow if that happens.
because, Eliminating fiat paper will have a measurable negative effect on the economy. Paper money is a more efficient form of transactions than electronic payment.
paper money is also important and I think more countries will not follow if that happens.
It may happen if many parties agree to use and develop virtual money or even each country has their own virtual money.
a very bad idea if you delete the fiat money. because the self-sufficient state still has the poor people. while the way of selling / buying poor people still use fiat. the elimination of fiat money in my opinion will not happen.
Its not possible to extinct paper money and coin bill but i think the government will not allow totally to obsolete cash basis although nowadays we use digital money for any transaction. It could be happened for the rich people but how does the poor can survice and adjust to that system, it will be so inbalance if they totally obsolete the cash basis. But it is not possible in different country actually they preferred to use digital money for transaction and through the help of tehnology nothing is impossible.
I'm sure that cash can survive even if the use of digital money or cryptocurrency continues to increase, the main consideration of the country to maintain cash because it becomes if the internet is problematic so we can do cash transactions.
I'm not sure. Maybe in Sweden their unemployment rate is small or maybe none, so it could be happened. But what about the country who have a big unemployment rate? What about the poor people who don't even have a bank savings. Automatically they won't have any debit or credit card. They need their money in cash. So i don't think cashless revolution could be done in all countries. Maybe for some countries but not all of them.
Are you saying FIAT cash in paper or cotton notes is cheaper to process then crypto because I dont think thats the case. Crypto should beat all systems of exchange for both speed and efficency without great trouble. I hope Bitcoin continues to allow very cheap exchange even if the processing is not immediate presumably for the very smallest amounts it would not longer need the 6 block confirmation time and so be quite easy to sign off based on the initial show on the blockchain.
Only a country without communications or electricity is really too poor to take part, even then mobile phones could be used some.
World without cash is the biggest leap that human made in the history of economic growth this will lead to a much progressive countries.
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 never be extinct, there are a lot of people who are still placing their money on the banks and if they cannot keep up to the growth of cryptocurrency then they need to create their ow coin in order to earn profit.
Probably yes, but this is not in the nearest fifty years to come, and not all the country will follow suit and some who follow suit cannot just extinct cash most have being planning and put the necessary step before invention.
I'm not sure. Maybe in Sweden their unemployment rate is small or maybe none, so it could be happened. But what about the country who have a big unemployment rate? What about the poor people who don't even have a bank savings. Automatically they won't have any debit or credit card. They need their money in cash. So i don't think cashless revolution could be done in all countries. Maybe for some countries but not all of them.
Are you saying FIAT cash in paper or cotton notes is cheaper to process then crypto because I dont think thats the case. Crypto should beat all systems of exchange for both speed and efficency without great trouble. I hope Bitcoin continues to allow very cheap exchange even if the processing is not immediate presumably for the very smallest amounts it would not longer need the 6 block confirmation time and so be quite easy to sign off based on the initial show on the blockchain.
Only a country without communications or electricity is really too poor to take part, even then mobile phones could be used some.
I think cash will not be extinct for the next 50 years or more, it will have to go through a lot of process and debate from the government. And its not easy to change system right away because there is a new technology for now lets hope that they will accept crypto as alternative money or currency that we can use online.
eliminating the paper money I think has a bad impact for economic development for example for the poor they can not possibly have to buy a cell phone or computer just to transact in small quantities.
so I think if swedish want to eliminate paper money, not all countries will follow it directly, they will think about its impact on the economy.
so I think if swedish want to eliminate paper money, not all countries will follow it directly, they will think about its impact on the economy.
Maybe this will happen if they apply online payment or card technology now. There will be a lot of support from the government in the future as it will bring many benefits like security, anti-theft, easy payment, and asset management.
I do not believe if bitcoin can replace cash. because cash is the historic currency for every country, bitcoin is the digital currency, and the world of crypto is an opportunity for all fraudsters. because there is so much fraud here.
Eliminating paper fiat will have a measurably negative effect on economies. Paper money represents a more efficient form of transaction than electronic payment. . Who knows if Sweden will still exist as a country in 2013. With the rate they are being taken over by migrants I really doubt it.
Cash wouldn't extinct in near future, but technologically advanced countries will use digital currency more in future.
It would be good if they will build their new national currency based on crypto. 
Anyway cash is part of our lifes and would be hard to explain everything to every levels of sociaty.
Anyway cash is part of our lifes and would be hard to explain everything to every levels of sociaty.
No that will not be happening. Reason is we can’t live without cash until all your smallest and biggest systems of your countries are turned digital. Because Just imagine you live in a country with a poor or no internet connection. How to transfer your crypto money.
Well, basically, if all countries will follow what Sweded is doing, then that answer will lead to a big YES. But i don't think every nation has the same idea like Sweden has. Even in the advent of cryptocurrencies is not a guarantee that cash will be extinct, soon.
It still takes a century to eliminate all the cash from the world, especially in developing countries. And cash can go extinct as a result of cryptocurrency
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