Topic: Paper money vs Digital currency - page 8. (Read 1253 times)

I would say it's generation gap if you look at the older generation the still prefer paper currency against the new generation who preferred digital payment method as it's more convenient and quicker way, one doesn't need to carry and safeguard the cash. Since this post was made into bitcoin discussion I would like to make it clear that the digital currency which we are discussing here is national currencies not crypto like Bitcoin.

Sooner or later everyone will be using digital currency and if you have a look at country like Zimbabwe using something called ECO CASH and when country like Zimbabwe can adat it then other countries will follow the same and it's more about awareness which needs to be created for such initiatives.

Mainly, it is about a habit and also rules that are used in the country. We know that paper money has been used for a long long time ago, after the barter system. Paper money was Issued first by China around 770 B.C as source here.
And until now, this is still used by most people around the world, moreover like in my country. there are still so many traditional markets and also merchants so that they only accept paper money/coins for payment method. Most of them don't know about digital money, moreover the generation of old people. It is too difficult to introduce digital money to them.
Moreover, digital money itself is still new, existed because of the development of the technology era.

However, I also believe that the era will be still developing and the use of digital money is now spreading so fast. Banks also offer digital systems and also we can find out many e-wallets offering digital payment and transaction methods. And they can be accepted easily.

And I also believe that the era of cryptocurrency is payment is also ongoing, introduced to the worldwide may not be easy enough, but it is on the process. Although in my country itself, crypto is still not legalized as payment or transaction (only legal as commodity asset), I believe that many countries out there will be accepting crypto as one of the currencies.

Let's see how this world will be more friendly to cryptocurrencies

exactly! because if you will convince them, the usual initial reaction is to criticise what you are saying to them. but if they will learn it on their own and know the benefits that it may bring to them, their adoption is quite easy. let them appreciate crypto on their own accord. i have tried that with my few friends before, not really convincing them but explaining them what crypto is. still they have a lot of hesitations. and look at the btc price now, i guess they surely are regretting that they didnt believe what i was saying before. let those people educate themselves, and adoption will follow.

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.

 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 .

You might want to look to see what you can buy with your B C .

A few years ago BC was bought and sold anonymously , you can buy small amounts at atm's but even bit coin exchanges are under the controlling regulations of KYC ( know your client) and FINTRAC ( financial tracking) in other words there is a paper trail for the tax man to follow. This came about thanks to the OECD in Europe ,and are world wide .
When you make money on bit coin, be ready to pay taxes on your gains.( maybe ).

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?