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Topic: The future of the paper money - page 108. (Read 416603 times)

hero member
Activity: 952
Merit: 500
May 21, 2017, 06:58:57 PM
Paper money's future is still be the same because we needed it for less fortunate people, due to no capability of computer litteracy. We have to see to it that bitcoin can be more progressive in the future and it is already starting now, digital is the mode of spending in the future and cash money using paper will also be limited in usage. Bitcoin will be used only by those who are rich in bitcoin investments as well as it's litteracy of being a digital currency engagement.

That is a bit harsh, we need it for the less fortunate people? there are a lot of computer illiterate in the world, do you think that will stop them using such currency? And, why will they need to use a computer by the way if they can use it or either withdraw it in a bank or ATM machine. I think you are being ignorant on other people what might do, and the future of the paper money might be vague, but we all know that paper money will stay as it is. Bitcoin might not be a good currency if it's price continue to increase, it will be just an asset for investors, if you think of it, most people look at it, as an asset, not a currency.
I don't think the price itself is a gauge why this is a good currency, it is good because it benefited us to transact fast and easy.
While there are people who are still using paper money, we cannot eliminate it in the circulation because the government will
have to consider the majority and the less fortunate people, and correction, even rich people uses paper money.
hero member
Activity: 1722
Merit: 528
May 21, 2017, 05:25:53 PM
Paper money's future is still be the same because we needed it for less fortunate people, due to no capability of computer litteracy. We have to see to it that bitcoin can be more progressive in the future and it is already starting now, digital is the mode of spending in the future and cash money using paper will also be limited in usage. Bitcoin will be used only by those who are rich in bitcoin investments as well as it's litteracy of being a digital currency engagement.

That is a bit harsh, we need it for the less fortunate people? there are a lot of computer illiterate in the world, do you think that will stop them using such currency? And, why will they need to use a computer by the way if they can use it or either withdraw it in a bank or ATM machine. I think you are being ignorant on other people what might do, and the future of the paper money might be vague, but we all know that paper money will stay as it is. Bitcoin might not be a good currency if it's price continue to increase, it will be just an asset for investors, if you think of it, most people look at it, as an asset, not a currency.
sr. member
Activity: 1484
Merit: 253
May 21, 2017, 05:20:04 PM
Paper money's future is still be the same because we needed it for less fortunate people, due to no capability of computer litteracy. We have to see to it that bitcoin can be more progressive in the future and it is already starting now, digital is the mode of spending in the future and cash money using paper will also be limited in usage. Bitcoin will be used only by those who are rich in bitcoin investments as well as it's litteracy of being a digital currency engagement.
hero member
Activity: 1442
Merit: 629
Vires in Numeris
May 21, 2017, 04:37:16 PM
paper money has gained huge popularity as well as credibility so its future might be safe, generally, people are interested in using the popular forms of money, they are loving with paper money. paper money is using everywhere, every economy is running with paper money.
so it will last longer without no doubt.

paper money used on the past and until know because we know that this was issued by the governent, they are forcing us to use this as the trading mark or the value that your wealth will be. By the time cryptocurrency evades every nations, there would be decentralized moneytization and government cant stop it.

As mentioned two posts before, as long as the technical requirements won't be available everywhere, cryptos won't be a real competitor to paper money. It could be a competitor to bank card payments or to online virtual bank card payments or to fintech payment processor apps, but paper money doesn't need anything technical so it's like comparing apples and oranges.
In connection with governments, I don't know if there's anybody in North-Korea who can use bitcoin, so governments can stop it if they really want, but fortunately most countries' governments are not as strict as the mentioned country's.
sr. member
Activity: 546
Merit: 256
May 21, 2017, 03:27:57 PM
paper money has gained huge popularity as well as credibility so its future might be safe, generally, people are interested in using the popular forms of money, they are loving with paper money. paper money is using everywhere, every economy is running with paper money.
so it will last longer without no doubt.

paper money used on the past and until know because we know that this was issued by the governent, they are forcing us to use this as the trading mark or the value that your wealth will be. By the time cryptocurrency evades every nations, there would be decentralized moneytization and government cant stop it.
legendary
Activity: 4354
Merit: 3614
what is this "brake pedal" you speak of?
May 21, 2017, 06:54:26 AM
I do not think there is a future of paper money. Paper money will have been totally diminished.

Paper money will always exist so that in the event of a breakdown of the Internet, financial calculations can be made.
Yeah if the internet is dead of course that can be used is paper money. But you know that the internet will never die. The internet will always be present to be a new need for human beings.


until there is universal internet/wifi and power everywhere, paper money is here to stay. still lots of areas with no internet or 24/7 power.

no skill needed to use paper money, no hardware to buy and learn to use, no confirmation time, works everywhere.
member
Activity: 195
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May 21, 2017, 04:07:26 AM
paper money has gained huge popularity as well as credibility so its future might be safe, generally, people are interested in using the popular forms of money, they are loving with paper money. paper money is using everywhere, every economy is running with paper money.
so it will last longer without no doubt.
hero member
Activity: 1680
Merit: 535
Bitcoin- in bullish time
May 20, 2017, 11:11:08 PM
In my opinion paper money is going to be there for a very long time, there is no way countries will abandon their national currency for a crypto currency, in the best case scenario they will use it alongside their main currency.
Paper money will definitely last for a long time. But for the future of paper money myself I'm sure that paper money will be abandoned someday. And replaced with something new

Paper money will not be abandoned because it is one of the foundation of the world why the economy is keep growing if there is no paper money then there is no future ahead of us and just a worst dark future. The paper money will stay and it will have additional financial system that will help to make it more efficient like bitcoin.
sr. member
Activity: 272
Merit: 250
May 20, 2017, 10:26:32 PM
In my opinion paper money is going to be there for a very long time, there is no way countries will abandon their national currency for a crypto currency, in the best case scenario they will use it alongside their main currency.
Paper money will definitely last for a long time. But for the future of paper money myself I'm sure that paper money will be abandoned someday. And replaced with something new
hero member
Activity: 1148
Merit: 504
May 20, 2017, 10:06:33 PM
I do not think there is a future of paper money. Paper money will have been totally diminished.

Paper money will always exist so that in the event of a breakdown of the Internet, financial calculations can be made.
Yeah if the internet is dead of course that can be used is paper money. But you know that the internet will never die. The internet will always be present to be a new need for human beings.
sr. member
Activity: 994
Merit: 391
May 20, 2017, 04:15:02 PM
The use of paper many is decreasing day by day with the use of credit card, debit card and also internet payment systems. But now there is also crypto money which will be the future of paper money. But i think paper money will existe for a long time. Even to buy bitcoin we need paper money, to pay our credit card debt we need paper money. I am sure one day we will not use paper money. But i am not sure i will live enough to see these days.
legendary
Activity: 3514
Merit: 1280
English ⬄ Russian Translation Services
May 20, 2017, 10:19:08 AM
Paper money's future still be the same only that it will be lessen in usage due to bitcoin digital currency is the mostly used currency in the future years to come. Hopefully this will be happening so that bitcoin price will be more stable in the marketplace just like the fiat money currency money. Bitcoin that time wil be the most profitable investment to have amd paper money will be reduced in spending and exchanges but it will not vanish in banking because offline using still remains like in local wet markets and those who doesn't knew how to use the digital world of internet transactions, because bitcoin needs to be accessed through online network.

Bitcoin isn't going to affect physical currency much. The ratio of people using Bitcoin to conduct commerce vs. using it to gamble, either by buying speculatively or using it to skirt casino or sport book restrictions, is extremely small. The thing that is going to diminish physical fiat's use is digital fiat. Most transactions are already digital, and easier than blockchain technology

Well, now I seem to understand the difference between your reasoning and mine

In short, you don't look deeper besides what's on the surface taking into account only direct effects, and thus jump to premature conclusions. This post of yours is a perfect example of that. You basically state that Bitcoin cannot affect fiat since the former is not used in conducting commerce (i.e. Bitcoin is not used as a currency). This point itself can hardly be challenged since it is a fact of life (with which I totally agree, just in case). But this is not the only route via which Bitcoin can and does in fact affect fiat (physical or digital). You forget that fiat itself is not only about commerce and being a currency. It is also a speculative asset on its own and a store of value (another fact of life), and this is exactly where Bitcoin hits hardest. But since fiat here and fiat there it is still the same fiat (both physical and digital), Bitcoin necessarily affects them both even if indirectly and even if Bitcoin itself is not used to conduct real business as you state

There you go again claiming someone who doesn't see something the same as you has a malinformed opinion. Just try sticking to your ideas and don't pretend you have a grand insight into other's minds, because some of your ideas are quite uninformed. Claiming that the USD is a speculative asset is ridiculous

You seem to be more and more detached from reality

Any fiat currency is a speculative asset by definition. I guess George Soros would be greatly surprised to hear that claim after he (with a tightly knit group of speculators) had basically put the Bank of England to its knees when he shorted the British pound and earned 1B dollars within a single day. Yeah, I know that GBP is not USD, but I guess you won't start claiming the US dollar is somehow different in this regard. I guess you are the only one here who is "quite uninformed". You may want to learn more about currency carry-trade in particular and Forex in general
legendary
Activity: 1372
Merit: 1008
May 20, 2017, 03:24:32 AM
There are some situation that cash(paper money) can do it job better than digital money.
I think that it will exists as long as we trade things (which means for a long time)
Its popularity maybe can be less than now but it can not disappear.
For now it seems easier to use cash or paper money to make any transaction. Because the digital currency has not been too reliable due to adoption problems
hero member
Activity: 1148
Merit: 504
May 20, 2017, 03:07:07 AM
There are some situation that cash(paper money) can do it job better than digital money.
I think that it will exists as long as we trade things (which means for a long time)
Its popularity maybe can be less than now but it can not disappear.
I think not just in some ways. But cash is preferred for use as a payment option. Because wherever you are paper money received. Otherwise digital money is still in some places only

full member
Activity: 155
Merit: 100
May 20, 2017, 01:01:33 AM
I think paper money has already gained its grand form of money, generally, people are reluctant to use newly created anything rather than usual method. paper money provides some convenient and friendly using facilities so, the future of paper money is as usual I think.
legendary
Activity: 3038
Merit: 1024
Leading Crypto Sports Betting & Casino Platform
May 19, 2017, 11:48:43 PM
Government and banks hate paper money cuz they can't freeze or track it. Europe is doing away with it.
Are you serious, It looks very strange if the government and bank hate paper money. and what is the different between the paper money and fiat currency? I think your opinion is a joke. And you are kidding me dude.  Cheesy Shocked Roll Eyes
full member
Activity: 414
Merit: 107
May 19, 2017, 10:27:56 PM
I'm not worried about the future of Paper money, because it had already made a massive platform and gained special credibility to the people. Normally people are interested to use conventional method so paper money will be using another centuries.
legendary
Activity: 2044
Merit: 1115
★777Coin.com★ Fun BTC Casino!
May 19, 2017, 08:26:38 PM
Paper money's future still be the same only that it will be lessen in usage due to bitcoin digital currency is the mostly used currency in the future years to come. Hopefully this will be happening so that bitcoin price will be more stable in the marketplace just like the fiat money currency money. Bitcoin that time wil be the most profitable investment to have amd paper money will be reduced in spending and exchanges but it will not vanish in banking because offline using still remains like in local wet markets and those who doesn't knew how to use the digital world of internet transactions, because bitcoin needs to be accessed through online network.

Bitcoin isn't going to affect physical currency much. The ratio of people using Bitcoin to conduct commerce vs. using it to gamble, either by buying speculatively or using it to skirt casino or sport book restrictions, is extremely small. The thing that is going to diminish physical fiat's use is digital fiat. Most transactions are already digital, and easier than blockchain technology

Well, now I seem to understand the difference between your reasoning and mine

In short, you don't look deeper besides what's on the surface taking into account only direct effects, and thus jump to premature conclusions. This post of yours is a perfect example of that. You basically state that Bitcoin cannot affect fiat since the former is not used in conducting commerce (i.e. Bitcoin is not used as a currency). This point itself can hardly be challenged since it is a fact of life (with which I totally agree, just in case). But this is not the only route via which Bitcoin can and does in fact affect fiat (physical or digital). You forget that fiat itself is not only about commerce and being a currency. It is also a speculative asset on its own and a store of value (another fact of life), and this is exactly where Bitcoin hits hardest. But since fiat here and fiat there it is still the same fiat (both physical and digital), Bitcoin necessarily affects them both even if indirectly and even if Bitcoin itself is not used to conduct real business as you state

There you go again claiming someone who doesn't see something the same as you has a malinformed opinion. Just try sticking to your ideas and don't pretend you have a grand insight into other's minds, because some of your ideas are quite uninformed. Claiming that the USD is a speculative asset is ridiculous. A speculative asset is what you buy into to chase gains above what the base-denomination offers. That's what makes Bitcoin a worthy speculative asset, the chance for outsized returns vs holding fiat, which generally depreciates over time. It's why people sink money into penny stocks, or chase pyramid schemes: chasing outsized returns. I would almost venture that a base currency by defniniton cannot be a speculative asset because it's the default for what all commerce is based in on an economy. I would grant that the USD would be a speculative asset for foreigners who buy to get out of their own currency, but this inthibk would still be challenged by the fact that it's the most stable currency in the world. People in other-currency-based economies buy the USD to hedge or protect wealth, not to gamble on speculation.

I'd rather stick to discussing ideas and not pretending either of us has a magic insight into the other's mind or how they see the world.
hero member
Activity: 1190
Merit: 500
May 19, 2017, 06:59:59 PM
I do not think there is a future of paper money. Paper money will have been totally diminished.

Paper money will always exist so that in the event of a breakdown of the Internet, financial calculations can be made.
Lol i think the internet will not be down or dead. The Internet will continue to grow and more sophisticated and digital currency will be more popular and it will threaten paper money
full member
Activity: 168
Merit: 100
May 19, 2017, 12:29:19 PM
Government and banks hate paper money cuz they can't freeze or track it. Europe is doing away with it.
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