Topic: The future of the paper money - page 116. (Read 416566 times)
I don't think that it will be one of the main focus of England right now as recently because of the BREXIT it affected there own economy and currency as a whole from 1 British Pound = 1.45 USD and after brexit it got down to 1.20 USD per British Pound which is a big price reduction. And I don't think issuing a digital currency would be their main priority as of the moment. There main focus I think is to make there currency back on track again. How do they do it? They must improve there economy as a whole.
digital money more safer than paper money... future is digital concept
both of them is safe, its depending about your privacy, and how you safe it.
if you safe your bitcoin at online wallet then somone hack your account, you will lost too
That seems a little bit off. Digital fiat is heavily supported by the government but we still see people getting their cards hacked. We still see people losing their digital currency funds. And let's say that the government will give interest to bitcoins, will they secure it? Will they even help securing it? The government is the administration of the country, they are not the Dark Army that can protect us from the possible attacks that can happen.
And let's just say that bitcoin network becomes even more secured, the 51% attack is still possible to do. It requires tons of money. It will only take one rich villain to do that
In fact, fiat currency is not very far from Bitcoin in this regard either
When you mentioned "one rich villain", I immediately thought of George Soros and his attack against the British pound in general and the Bank of England in particular. Soros won, while the British pound was then back and still is today one of the major currencies out there (along with the US dollar, Swiss frank and Euro). So my claim should be even truer with respect to smaller and thus weaker currencies. Governments can basically do nothing against big fish of Soros calibre unless they impose strict controls on currency operations (read speculation), but that alone would instantly render this currency as non-marketable
I think that paper money will always be popular and in demand, because it is much more pleasant to feel bills in your hands than to constantly worry about a possible hacking of your card or electronic wallet.
Of course, even the educated people will prefer to use paper money when the circulation of paper money is till rampant. Bitcoin as payment system does not eliminate paper money in circulation, they have different purpose.
I think that paper money will always be popular and in demand, because it is much more pleasant to feel bills in your hands than to constantly worry about a possible hacking of your card or electronic wallet.
digital money more safer than paper money... future is digital concept
both of them is safe, its depending about your privacy, and how you safe it.
if you safe your bitcoin at online wallet then somone hack your account, you will lost too
Not only Government but that will be many common people who will be scared of using bitcoins as they will always have fear of loosing their money as I have seen many people who hesitate even in using credit cards for shopping.
digital money more safer than paper money... future is digital concept
both of them is safe, its depending about your privacy, and how you safe it.
if you safe your bitcoin at online wallet then somone hack your account, you will lost too
That seems a little bit off. Digital fiat is heavily supported by the government but we still see people getting their cards hacked. We still see people losing their digital currency funds. And let's say that the government will give interest to bitcoins, will they secure it? Will they even help securing it? The government is the administration of the country, they are not the Dark Army that can protect us from the possible attacks that can happen.
And let's just say that bitcoin network becomes even more secured, the 51% attack is still possible to do. It requires tons of money. It will only take one rich villain to do that.
digital money more safer than paper money... future is digital concept
both of them is safe, its depending about your privacy, and how you safe it.
if you safe your bitcoin at online wallet then somone hack your account, you will lost too
Not only Government but that will be many common people who will be scared of using bitcoins as they will always have fear of loosing their money as I have seen many people who hesitate even in using credit cards for shopping.
digital money more safer than paper money... future is digital concept
both of them is safe, its depending about your privacy, and how you safe it.
if you safe your bitcoin at online wallet then somone hack your account, you will lost too
Andrew Haldane said one solution would be for the Bank of England to issue a state-backed digital currency based on bitcoin. Supporting this initiative would be a negative interest rate levied on paper currency relative to the digital currency, with these measures do you think there is more possibilities that sometime:
Paper money will be banned entirely?
How long do you think that happens?
would it work?
What security and privacy risks would it raise?
And how would public and privately issued monies interact?
Paper money will be banned entirely?
How long do you think that happens?
would it work?
What security and privacy risks would it raise?
And how would public and privately issued monies interact?
I don't think paper money will ever be banned. At least not in our lifetime. Also, if a government were to use an official cryptocurrency, they would probably make their own.
Yes paper money will never get banned as it has support from the government and even the users of paper money are higher in compare to bitcoins and even in future paper money will be the first choice of people.
Andrew Haldane said one solution would be for the Bank of England to issue a state-backed digital currency based on bitcoin. Supporting this initiative would be a negative interest rate levied on paper currency relative to the digital currency, with these measures do you think there is more possibilities that sometime:
Paper money will be banned entirely?
How long do you think that happens?
would it work?
What security and privacy risks would it raise?
And how would public and privately issued monies interact?
Paper money will be banned entirely?
How long do you think that happens?
would it work?
What security and privacy risks would it raise?
And how would public and privately issued monies interact?
I don't think paper money will ever be banned. At least not in our lifetime. Also, if a government were to use an official cryptocurrency, they would probably make their own.
If it's something made by the government or by banks then you should definitly know that it won't be private and they will have control of everything just like the banks right , nothing much will change .
and for what comes to the Paper money I don't think it will dissapaear , maybe on some countries yes but worldwide ?definitly not because some countries don't even use Credit cards for their transactions so ... yep
Yes i also think that paper money will stay and will not disappear. Because even if the bitcoin will be an international crypto-currrency, the government always want control on a specific money. Because through this they can earn or corruption may exist. People mostly the powerful one always crave on control and manipulation and bitcoin is not a type of currency that can be manipulated by someone. Even of the developers do not have the power to control it. So in conclusion, as bitcoin develops for the better transaction and security paper money will also develop for future needs.and for what comes to the Paper money I don't think it will dissapaear , maybe on some countries yes but worldwide ?definitly not because some countries don't even use Credit cards for their transactions so ... yep
That´s why goverments and banks will issue their own cryptocoins or rather a digital version of actual fiat coins. They will control the emission, they will watch all the movements and they will even know who is the owner of every address. Furthermore, they will avoid counterfeit.
Digital fiat has been around for quite a long time now. The money in your bank account is the digital version of an actual fiat coin and the government has been using it ever since to track your transaction history. If all of a sudden (meaning with no major leaps on your career or other sources of income), you deposited a million dollar, the IRS will come knocking to your door ask you about it.
They definitely know the owner of the money and his/her whereabouts because you submit legal papers when opening a bank account.
If it's something made by the government or by banks then you should definitly know that it won't be private and they will have control of everything just like the banks right , nothing much will change .
and for what comes to the Paper money I don't think it will dissapaear , maybe on some countries yes but worldwide ?definitly not because some countries don't even use Credit cards for their transactions so ... yep
Yes i also think that paper money will stay and will not disappear. Because even if the bitcoin will be an international crypto-currrency, the government always want control on a specific money. Because through this they can earn or corruption may exist. People mostly the powerful one always crave on control and manipulation and bitcoin is not a type of currency that can be manipulated by someone. Even of the developers do not have the power to control it. So in conclusion, as bitcoin develops for the better transaction and security paper money will also develop for future needs.and for what comes to the Paper money I don't think it will dissapaear , maybe on some countries yes but worldwide ?definitly not because some countries don't even use Credit cards for their transactions so ... yep
That´s why goverments and banks will issue their own cryptocoins or rather a digital version of actual fiat coins. They will control the emission, they will watch all the movements and they will even know who is the owner of every address. Furthermore, they will avoid counterfeit.
If it's something made by the government or by banks then you should definitly know that it won't be private and they will have control of everything just like the banks right , nothing much will change .
and for what comes to the Paper money I don't think it will dissapaear , maybe on some countries yes but worldwide ?definitly not because some countries don't even use Credit cards for their transactions so ... yep
Yes i also think that paper money will stay and will not disappear. Because even if the bitcoin will be an international crypto-currrency, the government always want control on a specific money. Because through this they can earn or corruption may exist. People mostly the powerful one always crave on control and manipulation and bitcoin is not a type of currency that can be manipulated by someone. Even of the developers do not have the power to control it. So in conclusion, as bitcoin develops for the better transaction and security paper money will also develop for future needs. and for what comes to the Paper money I don't think it will dissapaear , maybe on some countries yes but worldwide ?definitly not because some countries don't even use Credit cards for their transactions so ... yep
If you don't like freedom then paper money is not good for you. So I don't think paper money has a long future. That is my guess.
Well, I think paper money is a very easy form to use in terms of transactions. But, maybe in the future, paper money, will be mixed with digital currency in the payment process. 
If you don't like freedom then paper money is not good for you. So I don't think paper money has a long future. That is my guess.
To sum it all up, every currency will be digital only and there will be no more paper money. It is the digital age, people.
it is hardly happening in this decade and even the next decade. People are still very ignorant and I dont think that they can learn how to use Bitcoin or crypto in the near future. Moreover, many countries do not have technology and gadget to use Bitcointo them and they must be interested also, but I know they will not unless they will get some benefits, with that paper money will exist.
Who gets in the way of paper money?
I use them often and I have doubts that they will ever cease to exist. Bitcoin is not a competitor to them. This is a completely different system and it does not need to be compared with fiat.
I totally agree to you. Even if the BTC is a competitor of the paper money still I am not sure it can ever defeat the paper money. Like it is easy to transfer BTC instead of the traditional bank transaction but the use of the paper money is sometimes totally different than that of the digital one. Secondly not all the people of the world are that smart to use digital currency.I use them often and I have doubts that they will ever cease to exist. Bitcoin is not a competitor to them. This is a completely different system and it does not need to be compared with fiat.
I believe that it depends on your location. You can be saying that because that's what you can observe on the people around you but you definitely did not observe places like the USA where cashless society is starting. People are just using credit/debit cards to pay because it's much easier to use and more convenient. You don't have to count money, you don't have to carry it around, etc.
There will always be places like the provinces and third world places where paper money will always be more convenient to use since every store is accepting it while swipe (credit/debit cards) aren't always.
But the thing is not everyone wants to use it, it may seem like a good idea for people and a bad for others, paper money is always going to be there because it is the way that people are used to and it is easier for them, but who know maybe new generation will most likely lean toward suing digital money.
To sum it all up, every currency will be digital only and there will be no more paper money. It is the digital age, people.
it is hardly happening in this decade and even the next decade. People are still very ignorant and I dont think that they can learn how to use Bitcoin or crypto in the near future. Moreover, many countries do not have technology and gadget to use BitcoinTo sum it all up, every currency will be digital only and there will be no more paper money. It is the digital age, people.
it is hardly happening in this decade and even the next decade. People are still very ignorant and I dont think that they can learn how to use Bitcoin or crypto in the near future. Moreover, many countries do not have technology and gadget to use Bitcoin The future of paper money is simply to disappear, it will not happen tomorrow, it will take some years but it will happen
I don't think that we are ever going to live up to that
So it is idle talk mostly. Apart from that, conceptually, paper money is not going anywhere unless there are dramatic changes in society, such changes what would likely change the concept of money itself. Until then there will always be room for ready money, e.g. when you need to pay for something hand-to-hand (and this should not necessarily involve some illicit deals or transactions). I guess you can easily think up a lot of situations where paying with cash will be the most optimal way of payment
Yes, when you go to buy bread, when you go for some fruit, small transactions of money for everyday things. It´s true that there has to be a change, in society as well. I think it is being done slowly, applications to pay with the mobile, debit, credit or prepaid cards. Everything takes time and there are many people who don´t have a cell phone or don´t want to have a card, it´s clear that everything can not be changed from one day to the next, and they can´t force people, they need to convince them, to make them want that change. They will use the publicity to create that need while they will slowly withdraw the banknotes, they will convince us that touching coins with our hands is bad for our health, that by paying with the mobile there are many advantages, and if they convince the people they will go forward with it
They will have a long and hard way ahead
If they choose to go that route. Many governments chose another path and have made using payment card almost obligatory for their employees already. If you are one, you are given such a card where your salary will be credited. If you don't want to have such, you will be paid in cash, of course, but you are risking to get fired whenever things start going awry for you personally or there is a staff cut pending
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