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Topic: Paper money vs Digital currency (Read 1164 times)

sr. member
Activity: 1120
Merit: 254
StartFi
August 09, 2021, 07:45:21 PM
Digital money may be the other form of Paper money. We have already known about much digital money in a country that is accepted as a currency and payment method.
But digital currency may not be always cryptocurrency, this is different.
So, it is no matter with the digital money and paper money as long as they are accepted and also under the law of a country
full member
Activity: 770
Merit: 113
August 09, 2021, 07:22:44 PM
Paper money is getting old day by day. We are in a completely new era now. We are living in a digital world. People have started to use credit cards etc. more than paper money from now on. Because it is easier to carry and you don't need to calculate anything while you are making a payment. You just hand over the card and actually you don't even need to do it either. Now we can use contactless cards which makes things much easier for us.

And in the future, I think that we will stop using paper money for good and start using only digital currencies.
that's how civilization works, many changes occur with the development of technology. even now purchase transactions can be done with just a barcode scan, so many are taking advantage of e-wallet or e-banking. especially during this pandemic which makes us have to reduce physical touch with other people or objects that have the potential to transmit the virus.
Currently, cryptocurrency has not been fully accepted, the main obstacle is that it is decentralized, cannot be fully controlled by the state, that is the reason. but I believe one day cryptocurrency will become a very effective payment alternative, the government could improvise by making its own crypto currency.
full member
Activity: 644
Merit: 159
★Bitvest.io★ Play Plinko or Invest!
August 09, 2021, 06:46:46 PM
Paper money is getting old day by day. We are in a completely new era now. We are living in a digital world. People have started to use credit cards etc. more than paper money from now on. Because it is easier to carry and you don't need to calculate anything while you are making a payment. You just hand over the card and actually you don't even need to do it either. Now we can use contactless cards which makes things much easier for us.

And in the future, I think that we will stop using paper money for good and start using only digital currencies.
sr. member
Activity: 882
Merit: 252
August 09, 2021, 06:36:36 PM
I think it's not that people don't believe in cryptocurrencies, but the government and bankers who are blocking all of this. until now the world bank can not be side by side with cryptocurrencies. They cannot follow decentralized crypto or blockchain rules. As we know banks move by turning other people's money and making interest-bearing loans. This is why they hate cryptocurrencies, they can't play behind their backs.
legendary
Activity: 1862
Merit: 1180
www.Crypto.Games: Multiple coins, multiple games
August 09, 2021, 06:18:22 PM
paper money and digital money are equally important, many are hunting for digital money to be exchanged for paper money if you choose to invest in the long term digital currency is the right choice but if you save in the short term as savings it is better to save it in paper money.
I agree with you that digital currency and paper money are both important, right, but I think, for now, many people believe in digital currency because digital currency can get tremendous benefits compared to paper money.
I agree. Both are important but the trend for paper money is becoming less desirable in settling payments. When was the last time you paid in cash (i.e paper money) for a car or a house? See? These types of larger purchases still rely on digital money (which is still fiat but in digital format with just zeros in each other's bank accounts) right?

In terms of wealth preservation crypto has definitely put a spin on things, needless to say that many are now turning to crypto - the real digital money over fiat because it is way more manageable and transparent.

Oh, I can't wait for the day when crypto payments become the norm.
hero member
Activity: 1876
Merit: 672
www.Crypto.Games: Multiple coins, multiple games
August 09, 2021, 05:41:44 PM
A large majority of peoples in the world believes on paper money. They think that this is used for buying or selling goods and services. A currency which has a physically appearance in the world.
But the upcoming world is the world of  digital currency. Because it is easy and reliable way for sending and receiving money at any place in the world. We can send or receive money within minutes.
But there is a huge difference between both these two types of currencies.
So, it is very difficult that Digital currency will be adopted worldwide. Because of the users are not aware of this new technology and they are not comfortable to use this mode of payment. Because they don't believe in this technology yet.
So, how we  convince the peoples to adopt digital currency?Huh

I am glad you took the necessary time to highlight the various differences between paper money and digital money.
As much as digital money has more advantages than paper money, it is still not widely accepted simply because it cannot yet be used to carry day to day transactions. Trust me, it is until digital money can be spent in all stores that it would become universally adopted.
However, the rate of adoption is ever increasing and it wouldn't be long before digital money becomes the norm of the day
How can we consider on not to call digital money in using our Debit/Credit card for ages as of this moment?

Digital Fiat/Digital money is just the same and talking about trying to get rid with Paper money then it would be somewhat on the impossible side of things unless if there would be some implementations but it is really

hard to believe that there would be some total switch up because we know on how paper money is important on some transactions that cant really be done by digital or not really that convenient compared on using
paper fiat.

Lets see on how the future holds and how monetary system would look like.
full member
Activity: 854
Merit: 104
The Standard Protocol - Solving Inflation
August 09, 2021, 05:20:15 PM
A large majority of peoples in the world believes on paper money. They think that this is used for buying or selling goods and services. A currency which has a physically appearance in the world.
But the upcoming world is the world of  digital currency. Because it is easy and reliable way for sending and receiving money at any place in the world. We can send or receive money within minutes.
But there is a huge difference between both these two types of currencies.
So, it is very difficult that Digital currency will be adopted worldwide. Because of the users are not aware of this new technology and they are not comfortable to use this mode of payment. Because they don't believe in this technology yet.
So, how we  convince the peoples to adopt digital currency?Huh

I am glad you took the necessary time to highlight the various differences between paper money and digital money.
As much as digital money has more advantages than paper money, it is still not widely accepted simply because it cannot yet be used to carry day to day transactions. Trust me, it is until digital money can be spent in all stores that it would become universally adopted.
However, the rate of adoption is ever increasing and it wouldn't be long before digital money becomes the norm of the day
sr. member
Activity: 1022
Merit: 270
August 09, 2021, 04:10:30 PM
today very many people use digital currency, for example, like we store our assets in a bank,all we know is how many numbers such as the balance amount and we cannot store cash,and we have seen this a lot in the modern era how they store assets as non-cash money or better known as digital money,and I think digital money is very safe for us to store,either in a bank or in investments such as coins or all other types of investments.
full member
Activity: 868
Merit: 100
August 09, 2021, 02:14:18 PM
There is no need to convince people to use digital currency. They will eventually adopt. Technology is starting to reach every part of the world and we humans can adapt easily to every innovation that we see.

One's curiosity kicks into those that haven't adopted it, they'll start to know more about it. Information can easily be found through searching and they will learn through many resources that they can find online.

Absolutely . No need to convince anyone . They will adopt it eventually when digital currency will take place of paper money in future . But I think a long way to go for this. Because paper money is still ruling .
sr. member
Activity: 980
Merit: 257
The Standard Protocol - Solving Inflation
August 08, 2021, 04:55:01 AM
A large majority of peoples in the world believes on paper money. They think that this is used for buying or selling goods and services. A currency which has a physically appearance in the world.
But the upcoming world is the world of  digital currency. Because it is easy and reliable way for sending and receiving money at any place in the world. We can send or receive money within minutes.
But there is a huge difference between both these two types of currencies.
So, it is very difficult that Digital currency will be adopted worldwide. Because of the users are not aware of this new technology and they are not comfortable to use this mode of payment. Because they don't believe in this technology yet.
So, how we  convince the peoples to adopt digital currency?Huh

Are you confusing the word paper money with fiat money in general? Paper money, like notes, do actually have a very important characteristic. It is not traceable and allows you to stay private and make transactions for goods and services you rather want to keep a secret. That can be many things, with lots of them having nothing to do with illegal activities. Fiat money in a bank account is probably the worst. Bitcoin, once your ID got attached to a Bitcoin address, is probably even worse than fiat in the bank account.
member
Activity: 112
Merit: 11
August 08, 2021, 04:53:39 AM
Paper money is old and traditional money it is not safe it can be steal robb but digital currency is not like this it is modern Currency it has privacy and password if you remember it you never lose it and it is modern time you can trade and earn in digital currency and if you forgot your password you can recover it by verification.
full member
Activity: 1078
Merit: 101
The Standard Protocol - Solving Inflation
August 08, 2021, 04:20:39 AM
paper money and digital money are equally important, many are hunting for digital money to be exchanged for paper money if you choose to invest in the long term digital currency is the right choice but if you save in the short term as savings it is better to save it in paper money.
I agree with you that digital currency and paper money are both important, right, but I think, for now, many people believe in digital currency because digital currency can get tremendous benefits compared to paper money.
full member
Activity: 602
Merit: 101
The Standard Protocol - Solving Inflation
August 08, 2021, 03:44:52 AM
paper money and digital money are equally important, many are hunting for digital money to be exchanged for paper money if you choose to invest in the long term digital currency is the right choice but if you save in the short term as savings it is better to save it in paper money.
member
Activity: 1260
Merit: 21
August 08, 2021, 03:00:26 AM
A large majority of peoples in the world believes on paper money. They think that this is used for buying or selling goods and services. A currency which has a physically appearance in the world.
But the upcoming world is the world of  digital currency. Because it is easy and reliable way for sending and receiving money at any place in the world. We can send or receive money within minutes.
But there is a huge difference between both these two types of currencies.
So, it is very difficult that Digital currency will be adopted worldwide. Because of the users are not aware of this new technology and they are not comfortable to use this mode of payment. Because they don't believe in this technology yet.
So, how we  convince the peoples to adopt digital currency?Huh
I dint believe that anybody needs to be convinced. When Bitcoin gets to that worldwide adoption if it will get there, everyone will naturally follow the part. People that understand Bitcoin now are the ones that are currently using it the way they see best, some still don't see it as a currency even when they trade it as just an asset. However, when the time comes, it will naturally work out instead of convincing people.
hero member
Activity: 1260
Merit: 643
August 07, 2021, 01:24:47 PM
This question has been answered several times already and the answer is the same. Paper money would still be relevant in the years to come since it has been widely acknowledged by all countries as the main form of legal tender. While there may be countries that still practice 'barter system' of transactions, fiat is still the main currency which is used in all transactions involving payment.

Digital currency, on the other hand, will be the next generation of transactions in the FAR future. Since underdeveloped countries struggle to adapt technologically, they are the ones who would be hindered assuming that most developed countries shift to the idea of implementing digital currency.

Bottomline, both have their own respective use and convenience but its wide scale implementation will happen in the far future.
hero member
Activity: 1484
Merit: 953
August 07, 2021, 01:17:44 PM
I feel it is not our responsibility to convince the public at large to use digital currencies (including cryptocurrencies) in their daily live. Over time, the digital revolution will touch the wider community so that future generation will be quite comfortable using it in their daily live. The government and its banking system are also thinking about the best solution for using digital currency over paper money. Regardless of whether they want to adopt cryptocurrency or not then I think they have a desire to increase the use of digital currencies in the future.
sr. member
Activity: 1008
Merit: 250
August 07, 2021, 01:04:19 PM
You have some paper money ready for the moment is only applicable.

For drugs and shit..
sr. member
Activity: 1442
Merit: 269
August 07, 2021, 01:01:41 PM
Digital currency offers a better experience and a more secure feeling in today's information technology age. Everyone has a mobile device so adopting digital currency is the right direction. Another thing is that online shopping and the COVID-19 pandemic reduce the use of cash so the use of digital currency is increasing at a faster rate.

I still appreciate paper money because in some cases you cannot use digital currency as tip, buy small valuables.


I have to admit that it is very safe to use digital money now, but unfortunately in my country especially my city peoples more like paper money than digital money, maybe only for paying tolls and shopping at big malls, I use paper money every day because it is more practical and faster than digital money that must need bank registration.

Paper money is easy to use and doesn't depend on any conditions, I still use paper money often but in the future people will definitely like cryptocurrency, digital money. That is the future trend based on what I said in the above comment. Currencies will exist in parallel without any competition.
Paper money is familiar and legalized by the government, so it is flexible to be used anywhere, even to small shops, all people can accept it, in contrast to digital currency which can only be used in certain places. Therefore, the use of paper currency is still the main choice in transactions, although currently many people are reducing the use of paper currency due to the pandemic.
Yes, I think paper currency is still very much an option for the community, large or small traders. In fact, sometimes they trust paper money more than digital. They are afraid of fraud, although it is undeniable that paper money is prone to being duplicated, but there are many tools that can detect it.
sr. member
Activity: 812
Merit: 250
August 07, 2021, 12:35:37 PM
if paper money circulating in a country is of course also regulated by the government and its respective laws.and this is different from bitcoin which is where we can use digital currency when we are going around the world for example we are going to a country then we can also exchange it into the currency of that country, and that's where the advantages of bitcoin currency and are very easy to carry everywhere
hero member
Activity: 1610
Merit: 509
August 07, 2021, 12:11:23 PM
Digital currency offers a better experience and a more secure feeling in today's information technology age. Everyone has a mobile device so adopting digital currency is the right direction. Another thing is that online shopping and the COVID-19 pandemic reduce the use of cash so the use of digital currency is increasing at a faster rate.

I still appreciate paper money because in some cases you cannot use digital currency as tip, buy small valuables.

true as you said, bitcoin offers a very good experience, during the pandemic our movements are limited, we can't go anywhere, bitcoin comes to give us the freedom to earn money, fiat currency and bitcoin actually always coexist, they can't separated, bitcoin is very good for us to make assets, but fiat currency for now we still really need to make payments..
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