old vs new banking | Bitcointalksearch.org

Mrcharles

copper member

Activity: 336

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Quote from: baus on May 03, 2019, 09:40:56 AM

Previously, in times of crisis, capital works were started to put a nation back to work and stimulate the economy. In recent times, interest rates have been used to control the economy, and in the past, when a country was tied to the gold standard, gold was confiscated and then revalued higher effectively devaluing the underlying currency.

One way to stimulate the economy would be to control how cash works. If Central Banks are successful and ban the use of physical cash, forcing everyone to use digital money, another “feature” of digital cash could be time erosion.

One way to “encourage” the public to spend and stimulate the economy is to have a digital currency that erodes in value if it is not spent.

how'd u think it will progress?

https://www.altcoinsidekick.com/blog/chain-reaction

The workability of this concept is of interest to me. I personally don't see the government agreeing to this concept based on the philosophy of keeping money as a store of value. Enforcement of quick spending of money is not ideal to me and its a sign of economic crisis.

Adriano2010

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I think in future there will not be more need of cash money and most people will use cards, and also a lot of people will use a lot of crypto, and even crypto cards and pay with. Central banks will still be used because of governments need to control.

Bitcotalk

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Quote from: baus on May 03, 2019, 09:40:56 AM

Previously, in times of crisis, capital works were started to put a nation back to work and stimulate the economy. In recent times, interest rates have been used to control the economy, and in the past, when a country was tied to the gold standard, gold was confiscated and then revalued higher effectively devaluing the underlying currency.

One way to stimulate the economy would be to control how cash works. If Central Banks are successful and ban the use of physical cash, forcing everyone to use digital money, another “feature” of digital cash could be time erosion.

One way to “encourage” the public to spend and stimulate the economy is to have a digital currency that erodes in value if it is not spent.

how'd u think it will progress?

https://www.altcoinsidekick.com/blog/chain-reaction

The truth is that if central bank bans the use of physical cash in the entire world and everyone switches to digital cash, it would be a very good promotion for crypto because people will believe that the central bank got the idea from Crypto and everyone will want to jump into the Crypto space instead of making use of their platform that is very much centralized and can be controlled by them at anytime making it difficult for people to carry out their activities without being monitored.

traderethereum

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The digital currency will play a new role in the economy which makes people use to make the payment.
I don't think the government or central banks will ban the use of physical cash except they can control the digital cash.
People don't need encouragement to use digital cash because they will try to use digital cash by themselves.
People today have a big curiosity in one new thing, and they will try to get involved by using it in their daily life.
The progress will happen in short, but it will step by step until people fully understand how to use digital cash properly.

kindbtc

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The traditional fiat economies and the banking systems are becoming outdated now and with the development of blockchain technology it is the right time that the banking and all other finance related stuff should be upgraded to blockchain technology for efficiency, low cost, transparency and next gen tech.

mirgo1791

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rijaljun

sr. member

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People are run after technology. Physical cash is now eliminated buy online money for daily use. It's easier for people to only bring a smartphone anywhere than also bring a physical wallet for paying anything. I think, should be easy for cryptocurrency to take over online money with those brilliant advancements in it.

ahmia39

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Quote from: igor.vanyutin.83 on May 03, 2019, 09:50:48 AM

Another argument for switching to crypto currencies. I have no doubts that normal cash is going to be eliminated from our daily lives, so I think crypto is going to be a great alternative for us within several years from now on.

The regulation of changing the normal currency to crypto is very difficult because each country has its own currency so there are also those that are difficult to remove even though it can be possible but we must know that it is clearly very difficult.

CLywaTeLb

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For individual countries this is possible. For the whole world it is technically difficult to implement.

This can be a good way to money evolution. But this may not please many categories of people. To do this, everything should be changed. Opinions about wealth, about consumption, about work ... everything is possible that creates the economy and social life of a person.

For such a financial system there is no need to use cryptocurrency. Digital cash can also be centralized.

pushups44

sr. member

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A central bank cryptocurrency that has negative interest rates and expires due to inactivity will lose to the competition out there, with coins that are mildly or non-inflationary, as well as coins that give income for staking. People would switch to competing cryptocurrencies that function more effectively as a store of value. No one wants to see the value of their savings erode.

igor.vanyutin.83

member

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Another argument for switching to crypto currencies. I have no doubts that normal cash is going to be eliminated from our daily lives, so I think crypto is going to be a great alternative for us within several years from now on.

baus

member

Activity: 203

Merit: 10

Previously, in times of crisis, capital works were started to put a nation back to work and stimulate the economy. In recent times, interest rates have been used to control the economy, and in the past, when a country was tied to the gold standard, gold was confiscated and then revalued higher effectively devaluing the underlying currency.

One way to stimulate the economy would be to control how cash works. If Central Banks are successful and ban the use of physical cash, forcing everyone to use digital money, another “feature” of digital cash could be time erosion.

One way to “encourage” the public to spend and stimulate the economy is to have a digital currency that erodes in value if it is not spent.

how'd u think it will progress?

https://www.altcoinsidekick.com/blog/chain-reaction

Topic: old vs new banking (Read 138 times)