Paper money vs Digital currency - page 7.

yazher

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Quote from: Rehan Zakir on January 09, 2021, 01:38:38 PM

A large majority of peoples in the world believes on paper money. They think that this is used for buying or selling things. 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 the currencies.
So, it is very difficult to adopt the digital currency in the whole world. Because mostly peoples are n't know about the new technology and they don't try this way yet. Because they don't believe on that way.
So, how we convience the peoples to adopt digital currency? Huh

Right now whoever posses that digital money is greatly increasing because they can see the potential of the next generation to use digital money instead of going back to the old era where we used gold and silver as a currency. We cannot do that again because the technology is increasing and to make it more advance we also need to make it more reasonable to use digital money to be used as a means of payment. No matter what we have in the future, people need to learn how to use this digital currency because they need it for we may not using any paper money in the future.

AicecreaME

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We don't convince people to adopt Bitcoin, we just let the society or trend convince them that cryptocurrency is better than fiat. Cryptocurrency is much flexible than fiat, it could be use anytime, anywhere without going out, which is recommended in this time of pandemic. Using fiat now is also a way to get a virus, so public has been told that as much as possible, never use fiat but digital currency.

Since Bitcoin reached $20,000 in 2017, I think the picture of the world getting to know about cryptocurrency is much clearer than before, especially now. We are all sure that in no time, we will have the massive Bitcoin adoption in the whole world.

LimLims

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Quote from: Question123 on January 09, 2021, 11:13:46 PM

Paper money is still needed because it is people money that we use everyday in our life to buy our needs and needs. They can adopt the digital currency like bitcoin to make more money or fiat thay they can spend to their daily needs. But the others wants to die the paper money which is not happen , we can both use digital money and paper money now because it is both important.

Well said Mate.
Both Paper money and Digital currency have different importance.
They cannot be compared if we see practically.
We cannot pay in Digital Currency to Street Hawkers, neither can use them during some Cash Needs.
Yes Digital currency have lot of benefits, but still we also need paper money or cash in handy.
We cannot get access to our Digital coins where there is no Internet, but yes paper money will save us at that time.

shinratensei_

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The adoption can't be done instantly and it's all need time. When the government started to realize how safe the digital transaction and started to issue its own CBDC and then it can give awareness to the people who didn't know about the digital currency. china was doing it and its civilians were able to use yuan CBDC issued by PBOC.
The government will play a lot to spread awareness about the existence of digital currency.

mr_ROBOTT

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I can say that only the passage of time and the increase of culture and public awareness can create such a situation
and if you look at 2015 and earlier, you will definitely see that very few people knew about bitcoins and digital currencies
and now at least in Newspapers and News Sometimes digital names are heard, and this can be a good thing for the general public. Cool

Leviathan.007

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Firstly, I'm not sure what do you mean by digital currency. I believe digital currency is just the credit card we use if you compare these two digital currency is much better to use specially during the lockdown. But generally there is not much difference between these two. However since you created the thread on bitcoin discussion I assume by digital currency you mean bitcoin and crypto. I would not compare bitcoin to any fiat currency because bitcoin is not a currency, this is an asset. Also, considering the current situation, it's completely impossible to replace paper money by bitcoin, these two, both will give some some different benefit.

yhiaali3

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I think that in the near future, governments will be forced to use digital currency because the logic and force of development will impose that. We have seen in the past few years the world directed to adopt digital currencies for various reasons, either because of inflation or economic crises and finally because of the Corona epidemic.
Of course, this does not mean that we leave matters for the future until this is imposed by force, but we must work from now to spread the culture of cryptocurrencies among the society in which we live, because change starts from here.

Question123

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Paper money is still needed because it is people money that we use everyday in our life to buy our needs and needs. They can adopt the digital currency like bitcoin to make more money or fiat thay they can spend to their daily needs. But the others wants to die the paper money which is not happen , we can both use digital money and paper money now because it is both important.

OcTradism

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Quote from: Rehan Zakir on January 09, 2021, 01:38:38 PM

A large majority of peoples in the world believes on paper money. They think that this is used for buying or selling things. A currency which has a physically appearance in the world.

Paper money or paper-printing fiat is only one of ways governments use to distribute their air-backed money to their people. Paper is paper and has very low value if is not backed by central banks and by governments. But at the ends, governments and their inflated economies can collapse at any time as the Venezuela has.

Quote

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 the currencies.

Digital currency is better as you can bring them around with a phone and mobile devices but they can be stolen as same as paper money. Easier or more difficult, it depends on how you secure your digtal currency wallets and your devices.

Digital currency can have zero value too if you are mentioning any shit tokens or scam currency.

dansus021

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Quote from: xcaret on January 09, 2021, 02:17:56 PM

Well my friend ,having bit coin wealth is great , but how to you spend it at Walmart ? A lot of banks refuse to accept cash transfers from bitcoin exchanges , Bank of American among them. All the major Canadian banks have black listed bit coin exchanges, you cant buy BC with their credit cards . MBNA has black listed listed all their credit cards even the one issued to me by Amazon.ca .

IMO
Well my friend you can still buy things with bitcoin using bitcoin debit card there's dozen on the internet neteller payeer crypto.com etoro you name it after get MasterCard you can spend it on anywhere oh and also if paypal development about crypto have progress maybe the store that accept paypal is start accepting bitcoin. Newegg, Vultr, Namecheap and many more is already crypto as payment

Quote from: jademaxsuy on January 09, 2021, 06:23:18 PM

No need actually to convince them to join in the digital currency. Let them come to find out the benefit of the digital currency and how they could earn. If we wish too that all of them will going to join at once then we could not get the thrill of how bitcoin market evolve. All has the process and I bet bitcoin is already making its way for thw users and to the upcoming bitcoin users in the future. Well, let us hope that there will be another bitcoin ATH in the future like this bull trend.

Total agree

Wexnident

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Here's my take on this, any problem that can be solved with time is absolutely not a problem at all. You don't even need to do anything, people would naturally adapt and improve towards something that can better improve their lives, speaking bluntly, people would naturally move to a way that's much lazier (can also be called easier) than their current way of doing so.

Quote from: pixie85 on January 09, 2021, 06:19:05 PM

I guess that the best way to convince people to switch to digital currency is to show them that fiat is unreliable. You can't simply stock up on fiat money and forget about it.

Nah not really, see you describing fiat as something like an investment doesn't really enter the minds of the majority of the population imo, since most of them live to survive for the day, not to survive for the future. This is why people can not just willy nilly ask poor people to try to invest, no matter how much you try to justify how investing is their way to survival. How will they even live to see that day if they can't survive today right?

jademaxsuy

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No need actually to convince them to join in the digital currency. Let them come to find out the benefit of the digital currency and how they could earn. If we wish too that all of them will going to join at once then we could not get the thrill of how bitcoin market evolve. All has the process and I bet bitcoin is already making its way for thw users and to the upcoming bitcoin users in the future. Well, let us hope that there will be another bitcoin ATH in the future like this bull trend.

pixie85

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I guess that the best way to convince people to switch to digital currency is to show them that fiat is unreliable. You can't simply stock up on fiat money and forget about it.

What would people who had a lot of money 50 years ago and put it all in jars be able to buy? 50 years ago the same amount of money that could buy them houses and multiple apartments wouldn't even buy 1 house now. In some cases if they held a currency that disappeared they'd have nothing left. They wouldn't even be able to buy a bottle of clean water.

Once you see the death of a fiat currency you will never want it to happen again and you'll value bitcoin.

Oshosondy

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Paper money is one of the old fashion which is still though part of our system, but with time the paper money will be the things of the old. Governments are trying their best to create CBDC while decentralized cryptocurrencies like bitcoin are on their way to go mainstream. But what is on ground now is still the digital fiat, fiat are fitting into the new era world also, it was paper money before but now becoming digital money too which can be kept and use electronically. What I just see about the new world is that all these money will fit into it to make the world a better place but those who invest in decentralized currencies will be the ones to still benefit in deflationary currencies like investing in bitcoin.

Hippocrypto

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Quote from: boyptc on January 09, 2021, 02:50:32 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.

People would eventually grasp the advantages of digital currency that's why they'll able to use it in the long run. Convenience is the main reason why it attracts them to adopt cryptocurrency. Every individuals will use bitcoin or other coins for the personal purpose, just like with gambling and payment options like bills, transportation and other spendings related to money. You can use it independently and carry it on your mobile phones at your own freedom.

dunfida

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Quote from: Rehan Zakir on January 09, 2021, 01:38:38 PM

A large majority of peoples in the world believes on paper money. They think that this is used for buying or selling things. 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 the currencies.
So, it is very difficult to adopt the digital currency in the whole world. Because mostly peoples are n't know about the new technology and they don't try this way yet. Because they don't believe on that way.
So, how we convience the peoples to adopt digital currency? Huh

Actually we've been using it already for a while now. How you would consider those credit/debit cards we do had? Fiat can go digital and we have already seen that one.
Now that we do have another alternative which is on crypto then thats really a good add up but as expected it isnt really that adopted on full global scale due to some issues
like decentralization and lack of knowledge for people worldwide.Adoption isnt still on full scale yet thats why its no surprise that still lots havent able to know on cryptocurrencies existence.
Lets not just push up or force for us to believe on that making some comparison between crypto and with fiat. They do have their own purpose.

OscarDavidson

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Quote from: Rehan Zakir on January 09, 2021, 01:38:38 PM

A large majority of peoples in the world believes on paper money. They think that this is used for buying or selling things. 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 the currencies.
So, it is very difficult to adopt the digital currency in the whole world. Because mostly peoples are n't know about the new technology and they don't try this way yet. Because they don't believe on that way.
So, how we convience the peoples to adopt digital currency? Huh

I have the same view as you my friend Cheesy

You are completely right, digital currency is our future. If we look at Bitcoin and Blockchain system we can see that it's a more transparent and faster way of funds transfer. If you know a unique hash of the transaction everyone can check the details of this operation and get ensured that it was successful.
If we take into account such systems as CipherTrace, Chainalysis, or CrystalPlatform we can make use of it and create a system of legal operations with reliable participants. All we need to do is accept existing of cryptocurrencies and digital funds, make them regulated and available for everyone and improve the economic systems of countries with the advantages of digital currencies.

20kevin20

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You don't have to convince them. That's the thing people don't get - if we want these things to happen naturally, we need to let adoption go on its own. All we can really do is just make things much simpler for the average Joe to understand so that learning about BTC isn't a burden. As years go by, today's children are going to accomodate way easier to blockchain tech than we've been able to. So in my opinion, all we truly need is time.

HashFace

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Isn't everyone pretty much using "digital currency" now? My bank account is numbers on my computer screen. My paycheck is directly deposited. I buy things by swiping my credit card, or entering the numbers into Amazon ... I rarely see paper money anymore.

TheNineClub

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Our situation right now regarding digital currency and how it was 10 years ago is already a good indicator that things are indeed moving in that direction. But it's not just the thing of convicting people to make the switch. This has to come naturally and gradually. For everyday folk stability, security, and investments from the sectors outside the digital realm work as a good selling point. People still look at digital and see issues with fluctuation and security (maybe not security per see, just their perception of security), and until that is taken care of, we can't really expect people going for it. But again, comparing it to 10 years ago, there is some progress.

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