Topic: Has paper money outlived its purpose? (Read 1072 times)
Paper money is very much a necessity today. I live in London, UK, one of the biggest, most advanced and progressive cities in the world. Any yet sometimes I struggle for a mobile phone signal. Absent fast and free wifi or mobile data - everywhere - we will never see a full transition to internet money.
Paper money will continue to survive for longer than we all think because of powerful vested interests
paper money is key to the fiat paradigm and its pseudo-solution to the counterfeiting/double spending problem
It will survive for a long-time, but perceptions of it will change. Right now, people value paper and digital money equally. However, very soon I predict society will prefer digital money and paper money will be considered, like cheques and eventually die out naturally paper money is key to the fiat paradigm and its pseudo-solution to the counterfeiting/double spending problem
I think the author is sponsored by the NSA. He wants to get rid of paper money to kill the underground economy, and make all businesses and transactions under government control. Gosh! I'd rather get rid of credit cards, check books and the stock market than loosing cash.
Paper money will continue to survive for longer than we all think because of powerful vested interests
paper money is key to the fiat paradigm and its pseudo-solution to the counterfeiting/double spending problem
paper money is key to the fiat paradigm and its pseudo-solution to the counterfeiting/double spending problem
To people who do not have internet or electricity, it's still a option.
We forget, that there are millions of people, without the basic things we have.
We forget, that there are millions of people, without the basic things we have.
^^ True, paper money is going to be here for a much longer time.
Its also easy for someone who has never had any form of education to use it(paper money) but try explaining to him or her what bitcoin is...
Looking at the motivation behind the article, I am pretty sure that if the banks were allowed to get rid of paper money they would also make it illegal to change your electronic fiat to Bitcoin or any non-traceable asset for that matter. That would make adoption more difficult.
You do realize that paper money is what your checking and savings accounts are full of right?
Doing away with paper money wouldn't give a boost to Bitcoin, it would just give a boost to PayPal, Visa, Mastercard, Amex, and Discover.
Doing away with paper money wouldn't give a boost to Bitcoin, it would just give a boost to PayPal, Visa, Mastercard, Amex, and Discover.
To people who do not have internet or electricity, it's still a option.
We forget, that there are millions of people, without the basic things we have.
We forget, that there are millions of people, without the basic things we have.
yes
people will finally understand paper money is a kind of scam POS coin mint by creditless gov
people will finally understand paper money is a kind of scam POS coin mint by creditless gov
Yes, ~50 years ago. Until Bitcoin, however, every possible alternative was swiftly stamped out by state violence.
A commentary advocating getting rid of paper money:
http://www.moneyandbanking.com/commentary/2014/8/4/has-paper-money-outlived-its-purpose
I sure wish they would go through with it. Can you imagine the boost to Bitcoin if that happened?
http://www.moneyandbanking.com/commentary/2014/8/4/has-paper-money-outlived-its-purpose
I sure wish they would go through with it. Can you imagine the boost to Bitcoin if that happened?
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