Topic: How much longer until paper money is no longer in circulation? - page 9. (Read 4332 times)
January 06, 2023, 03:33:22 PM
Since currencies started evolving from trade by batter to coins as invented by the Lydians and the paper money as we saw by the Chinese which eventually became a globally accepted mode of financial transactions you can be certain that we have less than 2 decades to evolve to virtual currency Viz Bitcoin.... And paper money will no longer be used... Currently in China they have 60% cashless society.... So it's very feasible
January 06, 2023, 12:06:32 PM
With the current development of digital technology, paper money will almost certainly disappear, but I think it is a long time before they can be completely eliminated. Because to use digital currency, we need the internet but while many places still do not have internet and smartphones, getting rid of paper money will be very difficult.
January 06, 2023, 10:55:04 AM
While the world is constantly evolving and means of exchange for goods and services have changed over time, it's quite important to note how far the paper money has come and even though there are newer and better forms of accepting payment like the digital form, I think it would take awhile before paper money would go out of circulation even though the W.H.O has warned of it's susceptibility to spreading sickness.
January 06, 2023, 08:25:27 AM
With the development of the current era everything can happen, but to replace banknotes using digital currencies I don't think it will happen in the near future, because there are many things that must be completed by the government if banknotes are not circulated anymore, because banknotes have been used for so long that it is difficult to eliminate among the public, And currently some people do not fully understand about digital currencies so it takes time to replace fiat currencies.
January 06, 2023, 07:27:51 AM
It is true that paper or fiat money will not be replaced and if paper money is removed it is likely that it will create new problems as well.
so things like that have to be considered as well of course,
we never know what will happen in the future so we'll see
Bitcoin is becoming more popular for the last 13 years , and then what would happen if this continues ? then crypto will be the priority using and the Paper money will be the alternative .
It will continue to circulate of course ( at least for the next 10 years) but the situation will not remain as this because the urge for alternative transaction is happening and this is why crypto will be the best option and choice of the people.
I agree that cryptocurrency, the digital currency, will gradually replace paper money, but I firmly believe that bitcoin will not be an alternative but will instead be CBDC or government-created cryptocurrency and control. Bitcoin is the creator of cryptocurrencies, but unfortunately, we still live in a centralized world where the government controls everything. Therefore, it is not possible to expect a decentralized currency to be widely used and replace the current fiat.
January 06, 2023, 07:19:05 AM
There was a very interesting topic in my country regarding FIAT and yes , the system is slowly taking our FIAT away but we are not seeing Bitcoin being the replace right ? No , we don't! They want us to have a fully electronic payment system that is fully controlled by the Government and they could also block your assets anytime they want and all the other things but when it comes to FIAT money , they can't do the same thing and for me , FIAT money are currently essential in the world we living by.
Without a doubt , Bitcoin and cryptos are the future as long as they won't get fully regulated and implemented into a new Financial system that will be fully controlled by other entities. We could also see an experiment in the near future with all these 3 money systems being run until just one will be left.
Without a doubt , Bitcoin and cryptos are the future as long as they won't get fully regulated and implemented into a new Financial system that will be fully controlled by other entities. We could also see an experiment in the near future with all these 3 money systems being run until just one will be left.
January 06, 2023, 04:47:49 AM
It is true that paper or fiat money will not be replaced and if paper money is removed it is likely that it will create new problems as well.
so things like that have to be considered as well of course,
we never know what will happen in the future so we'll see
Bitcoin is becoming more popular for the last 13 years , and then what would happen if this continues ? then crypto will be the priority using and the Paper money will be the alternative .
It will continue to circulate of course ( at least for the next 10 years) but the situation will not remain as this because the urge for alternative transaction is happening and this is why crypto will be the best option and choice of the people.
January 05, 2023, 06:36:26 AM
In a decade, things will remain most likely the same way as they are right now. But set yourself forward 4-5 decades from now, and paper money will no longer exist as a standard means of payment. Our society is advancing quickly by making good use of technology. With CBDCs, governments will be able to reduce waste and gain more control over people's finances. They won't be able to do that with paper money, though.
The advent of crypto/Blockchain tech has raised the bar of the way we pay for goods and services. Central banks and mainstream governments became interested in the tech after the industry grew quickly in popularity. Exactly when will paper money cease to exist, is a mystery. I wouldn't worry about this, as long as we've got decentralized cryptocurrencies at our side. Just my opinion
In a decade, I think people would be using and still very much dependent on fiat currencies for most of their transactions and daily payments. Jumping forward to a few decades from today, fiat currencies may likely not be the most preferred form of making daily payments and small businesses might prefer some other sort of method for making transactions. But I still think the fiat currency would still be very much with us in the next few decades. Maybe not as relevant but still very much alive.
Yeah, I also wouldn’t worry too much about if or when paper money would cease to exist.
January 04, 2023, 10:54:45 AM
In a decade, things will remain most likely the same way as they are right now. But set yourself forward 4-5 decades from now, and paper money will no longer exist as a standard means of payment. Our society is advancing quickly by making good use of technology. With CBDCs, governments will be able to reduce waste and gain more control over people's finances. They won't be able to do that with paper money, though.
The advent of crypto/Blockchain tech has raised the bar of the way we pay for goods and services. Central banks and mainstream governments became interested in the tech after the industry grew quickly in popularity. Exactly when will paper money cease to exist, is a mystery. I wouldn't worry about this, as long as we've got decentralized cryptocurrencies at our side. Just my opinion
In a decade, I think people would be using and still very much dependent on fiat currencies for most of their transactions and daily payments. Jumping forward to a few decades from today, fiat currencies may likely not be the most preferred form of making daily payments and small businesses might prefer some other sort of method for making transactions. But I still think the fiat currency would still be very much with us in the next few decades. Maybe not as relevant but still very much alive.
Yeah, I also wouldn’t worry too much about if or when paper money would cease to exist.
January 04, 2023, 07:41:38 AM
In a decade, things will remain most likely the same way as they are right now. But set yourself forward 4-5 decades from now, and paper money will no longer exist as a standard means of payment. Our society is advancing quickly by making good use of technology. With CBDCs, governments will be able to reduce waste and gain more control over people's finances. They won't be able to do that with paper money, though.
The advent of crypto/Blockchain tech has raised the bar of the way we pay for goods and services. Central banks and mainstream governments became interested in the tech after the industry grew quickly in popularity. Exactly when will paper money cease to exist, is a mystery. I wouldn't worry about this, as long as we've got decentralized cryptocurrencies at our side. Just my opinion
If we talk about 2-5 decades, it is not impossible that paper money will be replaced. I believe in those days we have progressed to a more sophisticated technology sector than we are today. Or maybe there will be a new technology that goes beyond blockchain. We can only speculate, I believe the CBDC will also experience rule changes in the next 5 decades.The advent of crypto/Blockchain tech has raised the bar of the way we pay for goods and services. Central banks and mainstream governments became interested in the tech after the industry grew quickly in popularity. Exactly when will paper money cease to exist, is a mystery. I wouldn't worry about this, as long as we've got decentralized cryptocurrencies at our side. Just my opinion
To narrow down a topic related to today's finances, namely paper money we need to look back before there was a medium of exchange. At that time, it had not been thought that there would be a name for paper money, so we did not know what it would be like in the future.
January 04, 2023, 06:25:25 AM
I bet you that your predictions would turn out wrong. Paper money has been in existence and use for over a century(that’s a 100 years). We have gotten familiar and used to the paper money that any other means of payment would be scrutinized thoroughly and initially would be distrusted by most people.
Paper money will almost definitely still be in existence and use in 10 years. Besides, what other means of payment is as widespread, known and accepted as the fiat system? None that I know of.
In 10 years from today, we would still be using the fiat system. There may be other new and innovative means of making and receiving payments, that doesn’t mean the fiat system would be completely abolished.
Paper money will almost definitely still be in existence and use in 10 years. Besides, what other means of payment is as widespread, known and accepted as the fiat system? None that I know of.
In 10 years from today, we would still be using the fiat system. There may be other new and innovative means of making and receiving payments, that doesn’t mean the fiat system would be completely abolished.
In a decade, things will remain most likely the same way as they are right now. But set yourself forward 4-5 decades from now, and paper money will no longer exist as a standard means of payment. Our society is advancing quickly by making good use of technology. With CBDCs, governments will be able to reduce waste and gain more control over people's finances. They won't be able to do that with paper money, though.
The advent of crypto/Blockchain tech has raised the bar of the way we pay for goods and services. Central banks and mainstream governments became interested in the tech after the industry grew quickly in popularity. Exactly when will paper money cease to exist, is a mystery. I wouldn't worry about this, as long as we've got decentralized cryptocurrencies at our side. Just my opinion
January 03, 2023, 04:47:56 PM
I doubt paper money will ever stop to exist, CBDCs cannot replace fiat. Some countries have tried creating their own digital currency and yet haven’t not been able to convince their citizens to use the digital currency for transactions. The world is not ready to for such a huge transition. Naturally people feel more safe using traditional monetary systems, little wonder why when newbies are introduced to bitcoin they always go for centralized exchanges. It’s a reflex condition that comes from being used to regulated money system.
You are right from your assumptions or suggestions, paper money, ot will be very difficult or rigid before paper money can be abolish, provided that this Earth stand paper money will definitely stand from my perspective, so therefore i believe that paper money have been into existence for long time and it will continue to exist even though that digital money is becoming generally accepted. hero member
Activity: 1036
Merit: 933
Find your Digital Services at- cryptolibrary.pro
January 03, 2023, 04:30:17 PM
My prediction is that in 10 years at most, nobody will use paper money, and this will probably start on the side of the states, where they will completely abolish paper money, digitize everything and act more easily.
I bet you that your predictions would turn out wrong. Paper money has been in existence and use for over a century(that’s a 100 years). We have gotten familiar and used to the paper money that any other means of payment would be scrutinized thoroughly and initially would be distrusted by most people.
Paper money will almost definitely still be in existence and use in 10 years. Besides, what other means of payment is as widespread, known and accepted as the fiat system? None that I know of.
In 10 years from today, we would still be using the fiat system. There may be other new and innovative means of making and receiving payments, that doesn’t mean the fiat system would be completely abolished.
What Hauff Murray is saying is not far from the truth but 10 years are too close to forget paper money. I will say yes and no. Yes because there will a generation that is coming in the future that paper money will be automatically remove, in that generation, everything will be computerized and digitally oriented. No in the sense that, paper money makes things easier for people to buy and sell so for paper money to fade away will take another century. And I don't think Americans leaders will allow that to happen. Because dollar is worldly accepted currency and Americans are making profit from it.
So there is a large number of percentage to go. I agree with that words that the use of paper money or currency will gradually become obsolete in the future. But I think it is still have to long way to go and I think that is not possible in the next ten years. If we see that cryptocurrency is still illegal in most countries of the world, maybe they will bring digital currency but paper money is still a long time to see. So I also think that it will take a long time for paper money to go away which by no means will happen in 10 years.
January 03, 2023, 04:06:48 PM
My prediction is that in 10 years at most, nobody will use paper money, and this will probably start on the side of the states, where they will completely abolish paper money, digitize everything and act more easily.
I bet you that your predictions would turn out wrong. Paper money has been in existence and use for over a century(that’s a 100 years). We have gotten familiar and used to the paper money that any other means of payment would be scrutinized thoroughly and initially would be distrusted by most people.
Paper money will almost definitely still be in existence and use in 10 years. Besides, what other means of payment is as widespread, known and accepted as the fiat system? None that I know of.
In 10 years from today, we would still be using the fiat system. There may be other new and innovative means of making and receiving payments, that doesn’t mean the fiat system would be completely abolished.
What Hauff Murray is saying is not far from the truth but 10 years are too close to forget paper money. I will say yes and no. Yes because there will a generation that is coming in the future that paper money will be automatically remove, in that generation, everything will be computerized and digitally oriented. No in the sense that, paper money makes things easier for people to buy and sell so for paper money to fade away will take another century. And I don't think Americans leaders will allow that to happen. Because dollar is worldly accepted currency and Americans are making profit from it.
January 03, 2023, 03:37:02 PM
Everything is going digital, so I'm pretty sure paper money will disappear sometime in the future. I know CBDCs won't replace paper money right after they're launched, especially when not everyone will want to use it for day-to-day payments (like the elderly). We already have decentralized digital currencies (Bitcoin and its variants), so why should we care about Fiat going digital anyways? Once CBDCs take over the world, you can say goodbye to privacy for good. Who knows how many years do we have left before this happens? Just my thoughts
fiat.We know that they cant just let it happen because they would really be losing up that grasps or control into everything specially on financing sector which they wouldnt really let that happen.
Money or paper fiat would really be continue to exist and would really be in circulation no matter how crypto or BItcoin would progress out.
They would both co-exist and crypto would remain as an alternative.It might reach up some high recognition and adoption on some point but it wont be an enough reason for it to be
replacing fiat anytime soon so its better not to make yourself anticipating that much.
January 03, 2023, 12:22:49 PM
My prediction is that in 10 years at most, nobody will use paper money, and this will probably start on the side of the states, where they will completely abolish paper money, digitize everything and act more easily.
I bet you that your predictions would turn out wrong. Paper money has been in existence and use for over a century(that’s a 100 years). We have gotten familiar and used to the paper money that any other means of payment would be scrutinized thoroughly and initially would be distrusted by most people.
Paper money will almost definitely still be in existence and use in 10 years. Besides, what other means of payment is as widespread, known and accepted as the fiat system? None that I know of.
In 10 years from today, we would still be using the fiat system. There may be other new and innovative means of making and receiving payments, that doesn’t mean the fiat system would be completely abolished.
January 03, 2023, 10:29:00 AM
It is unlikely that states and their governments will abandon the use of cash in the foreseeable future. Cash also plays a positive role in the development of the economy of each state. In addition, in some cases and for certain categories of people, paper money is simply irreplaceable. Of course, the volume of their circulation will decrease, but to a certain level. Their further fate will depend on how quickly our civilization develops technically. But if cataclysms and troubles, wars continue, then paper money will not disappear at all.
Your thinking is very logical, this is really seen in the reality of life where paper money is still being used today and will not be simply eliminated when considering the possibility of war that can still occur and natural disasters that come suddenly. I think the government needs to study it more deeply and for a longer time if it wants to eliminate paper money in a country because in reality there are still very many people who want to use paper money even though there are already more other options when it comes to any kind of payment.
January 03, 2023, 09:16:22 AM
Everything is going digital, so I'm pretty sure paper money will disappear sometime in the future. I know CBDCs won't replace paper money right after they're launched, especially when not everyone will want to use it for day-to-day payments (like the elderly). We already have decentralized digital currencies (Bitcoin and its variants), so why should we care about Fiat going digital anyways? Once CBDCs take over the world, you can say goodbye to privacy for good. Who knows how many years do we have left before this happens? Just my thoughts
There is possibility that in the future time to come paper or fiat currency might have gone less been utilized with this kind of development we are having in the digital technology currenries nowadays, if we take a look into history abit, you will discover that even before the introduction of fiat currency the olden days have been using several means for an exchange of goods and services before paper currency, the same thing happens that this fiat over shadow every other exchange means that we all now uses fiat before we begin to make transactions of these same fiat unit in our various account from banks, now the crypto is invoke and globally recognized, it will always make more recognition than ever before for adoption taking place of fiat gradually till everyone now get used to digital currency in cryptocurrency.
January 03, 2023, 08:48:17 AM
Everything is going digital, so I'm pretty sure paper money will disappear sometime in the future. I know CBDCs won't replace paper money right after they're launched, especially when not everyone will want to use it for day-to-day payments (like the elderly). We already have decentralized digital currencies (Bitcoin and its variants), so why should we care about Fiat going digital anyways? Once CBDCs take over the world, you can say goodbye to privacy for good. Who knows how many years do we have left before this happens? Just my thoughts
December 30, 2022, 09:45:41 PM
Even though CBDC has appeared in the midst of society, it does not threaten the existence of paper money. CBDC will instead add options for payment instruments that guarantee the public will be able to transact under any circumstances and will not eliminate the function of paper money.
The government cannot rely on CBDCs by eliminating the function of paper money, this will invite risks that can stop transactions when the power goes out. CBDC can be used as an option in making transactions, some are more comfortable using paper money and some are using CBDC.
The government cannot rely on CBDCs by eliminating the function of paper money, this will invite risks that can stop transactions when the power goes out. CBDC can be used as an option in making transactions, some are more comfortable using paper money and some are using CBDC.
Everything is going digital, so I'm pretty sure paper money will disappear sometime in the future. I know CBDCs won't replace paper money right after they're launched, especially when not everyone will want to use it for day-to-day payments (like the elderly). We already have decentralized digital currencies (Bitcoin and its variants), so why should we care about Fiat going digital anyways? Once CBDCs take over the world, you can say goodbye to privacy for good. Who knows how many years do we have left before this happens? Just my thoughts
Jump to: