The future of the paper money - page 123.

Viscore

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Quote from: Fireblade on April 19, 2017, 03:31:56 PM

Quote from: NyeFee on April 18, 2017, 03:30:08 AM

Quote from: Oo ako to on April 18, 2017, 02:34:41 AM

I cannot rule out the possibility of paper money to dissappear but it will take more than a century. Most digital currencies including Bitcoin are still in the middle stage and therefore cannot make paper money to dissappear so quickly.

In order for paper money to completely disappear, it is necessary that the digital currency works smoothly anywhere in the world, it is necessary to develop further in this direction.

i do not think that it is such an easy job that paper money will disappear completely, as in present time less than one percent people of the world are using bitcoin, i think it will take a long long time and even then people will be using both the option. to me i think it will take decades when all the peoples of the world will be using bitcoin in every corner of the world.

Not even in my dreams, we are thinking it is possible but we neglect to see how small we are as a community compared to fiat or paper money. It's true that we are growing but that in a bigger rate, we will never replace paper money as the government will simply does not gonna allow it.
Think of the majority, not all people are getting used to the technology, most of them rely on simpleness and paper money offers it.

Fireblade

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Quote from: NyeFee on April 18, 2017, 03:30:08 AM

Quote from: Oo ako to on April 18, 2017, 02:34:41 AM

I cannot rule out the possibility of paper money to dissappear but it will take more than a century. Most digital currencies including Bitcoin are still in the middle stage and therefore cannot make paper money to dissappear so quickly.

In order for paper money to completely disappear, it is necessary that the digital currency works smoothly anywhere in the world, it is necessary to develop further in this direction.

i do not think that it is such an easy job that paper money will disappear completely, as in present time less than one percent people of the world are using bitcoin, i think it will take a long long time and even then people will be using both the option. to me i think it will take decades when all the peoples of the world will be using bitcoin in every corner of the world. in fact still there are some countries and modern cities where people are already using bitcoin for payment method as well as for so many other purposes.

SirPol85

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Quote from: grobura on April 19, 2017, 11:16:11 AM

I think that paper money will cease to exist in the next 5 years. And the government will accelerate this process. After all, paper money is very difficult to control. Therefore, they will be digitized

Too fast. In the underdeveloped countries they can not settle problems with paper money, but some people have not even heard about digital ones.

Altas

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Paper money will disappear from our hands but, it will take more time. Still many people do not know about internet and online payment methods. So first countries have to educate their people then they can easily remove paper currency from daily usage.

grobura

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I think that paper money will cease to exist in the next 5 years. And the government will accelerate this process. After all, paper money is very difficult to control. Therefore, they will be digitized

geegaw

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Quote from: Ayiranorea on April 19, 2017, 01:59:27 AM

Paper money will never be destroyed, even when everyone starts using the card system as well the digital currencies. There are countries that have made plans to digitalize their currency, but haven't revealed statements that the paper money will be taken from the usage.

Of course, paper money has existed as an indispensable part of our lives, we will never destroy our own lives, so the destruction of paper money is impossible. I think the future of paper money is just a form of innovation but in essence it is still the most popular and widely used currency, paper money still will exist forever but the use of paper money may be limited in the future and replaced by some other form of payment (Bitcoin). I think people still prefer paper money than Bitcoin because paper money transactions more convenient

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Quote from: Celsiuss on April 19, 2017, 01:47:49 AM

This is actually something that might just happen in Norway. Some politicians want to get rid of paper money by 2025. Currently the law says that every service or store are required to accept cash as a payment method.
In order to shift over from paper money, everyone will need a bank account, even small kids who want to buy an ice cream.
If we all go away from paper money, the banks will have full control over the economics in the country. Unless the country starts accepting bitcoin as a payment method, I think that this is a very bad idea.

I don't think this is a very likely event

In fact, there are a lot of reasons to diminish the use of paper money (and cash as such), but they have mostly nothing to do with governments wanting more control over the finances of their citizens. If there is no cash around, bribes and illegal payments will still be made with gold bars and coins (or even with bitcoins, wtf). Cash won't go away completely but its use is likely to get limited through pure economic means. In other words, where cash is more handy, people will continue to use cash. If cash is outlawed directly, people will just start using some other money token (so-called monetary surrogate) instead of official currency, so there is no sense in outlawing it completely

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Quote from: Hatuferu on April 18, 2017, 11:15:17 AM

Quote from: icecube45 on April 18, 2017, 09:07:33 AM

Quote from: mharz on April 18, 2017, 04:50:10 AM

Paper money will become useless if they go to the modern era. Paper money will become ordinary paper when they go to the digital currency. No one called money it only called Digital money.

Still a debate for everyone whether digital currency will replace paper money, and paper money will be gone unused. But in my country paper money demand is still very high, although digital currency is now also widely used. For at least 10 years paper money will still be used widely. And I think until whenever the paper money will not be replaced although growing digital currency. It would be very difficult to replace paper money.

My understanding to that is, we will still use paper money even if the world is moving fast, digital currency is the new trend now but we still
cannot deny that majority of the worlds population are living in poverty and i don't think they will be interested with technology, they are focus
on their basic needs, food and shelter is what they need.

Yes, the interest of people to use paper money I think will continue to exist even when the digital currency began to grow. But this is not because there are still many poor people and are not familiar with the technology, but because I think the paper money will still be a need for the transaction. I'm sure for some transactions using paper money still will be a favorite. If digital currency began to spread and be used indeed it would reduce the circulation of paper money, but I think is not to make it disappear. We see 20 years from now, paper money will still be used or not.

Ayiranorea

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Paper money will never be destroyed, even when everyone starts using the card system as well the digital currencies. There are countries that have made plans to digitalize their currency, but haven't revealed statements that the paper money will be taken from the usage.

Celsiuss

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This is actually something that might just happen in Norway. Some politicians want to get rid of paper money by 2025. Currently the law says that every service or store are required to accept cash as a payment method.
In order to shift over from paper money, everyone will need a bank account, even small kids who want to buy an ice cream.
If we all go away from paper money, the banks will have full control over the economics in the country. Unless the country starts accepting bitcoin as a payment method, I think that this is a very bad idea.

chineseprancing

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Quote from: Kasabus on April 19, 2017, 01:05:47 AM

Quote from: xSkylarx on April 19, 2017, 12:14:13 AM

Quote from: Jonny_DD on April 18, 2017, 02:39:53 AM

Quote from: Oo ako to on April 18, 2017, 02:34:41 AM

I cannot rule out the possibility of paper money to dissappear but it will take more than a century. Most digital currencies including Bitcoin are still in the middle stage and therefore cannot make paper money to dissappear so quickly.

I agree with you. Bitcoin is only at the implementation stage and he has a great future. But for the time being it is becoming popular, Fiat will be used more than the crypto currency. I agree, 50-100 years will still exist paper money

Paper money will remain alive and kicking for many years actually. The net worth of paper money or specifically dollars transcend far enough which may take super long to reach. For now the future of paper money still continues to live and it is impossible for now and the next years to come for it to disappear.

I agree with that, we cannot eliminate paper money in the circulation as this is the most simple way to use for people who has no
idea bout online currency. Bitcoin is only for educated people and there are a big number of uneducated people who only knew paper
money which they used on a daily basis.

Correct and also bitcoin is required gadgets which not all people can buy android phone specially for those poor people they are prefer to buy food than to provide gadgets and they can use is only paper money and not digital currency.

Kasabus

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Quote from: xSkylarx on April 19, 2017, 12:14:13 AM

Quote from: Jonny_DD on April 18, 2017, 02:39:53 AM

Quote from: Oo ako to on April 18, 2017, 02:34:41 AM

I cannot rule out the possibility of paper money to dissappear but it will take more than a century. Most digital currencies including Bitcoin are still in the middle stage and therefore cannot make paper money to dissappear so quickly.

I agree with you. Bitcoin is only at the implementation stage and he has a great future. But for the time being it is becoming popular, Fiat will be used more than the crypto currency. I agree, 50-100 years will still exist paper money

Paper money will remain alive and kicking for many years actually. The net worth of paper money or specifically dollars transcend far enough which may take super long to reach. For now the future of paper money still continues to live and it is impossible for now and the next years to come for it to disappear.

I agree with that, we cannot eliminate paper money in the circulation as this is the most simple way to use for people who has no
idea bout online currency. Bitcoin is only for educated people and there are a big number of uneducated people who only knew paper
money which they used on a daily basis.

xSkylarx

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Quote from: Jonny_DD on April 18, 2017, 02:39:53 AM

Quote from: Oo ako to on April 18, 2017, 02:34:41 AM

I cannot rule out the possibility of paper money to dissappear but it will take more than a century. Most digital currencies including Bitcoin are still in the middle stage and therefore cannot make paper money to dissappear so quickly.

I agree with you. Bitcoin is only at the implementation stage and he has a great future. But for the time being it is becoming popular, Fiat will be used more than the crypto currency. I agree, 50-100 years will still exist paper money

Paper money will remain alive and kicking for many years actually. The net worth of paper money or specifically dollars transcend far enough which may take super long to reach. For now the future of paper money still continues to live and it is impossible for now and the next years to come for it to disappear.

Inkdatar

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I think paper money will exists in the coming future. Bitcoin is popular in any countries and growing daily still paper money will exists though. But in my country bitcoin is not yet well known, and paper money is still in demand and userd well.

HEWRA

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The future of paper money is very bright and clear, it will obviously dissapear, because the digital currencies will overcome the old fiat.

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Quote from: icecube45 on April 18, 2017, 09:07:33 AM

Quote from: mharz on April 18, 2017, 04:50:10 AM

Paper money will become useless if they go to the modern era. Paper money will become ordinary paper when they go to the digital currency. No one called money it only called Digital money.

Still a debate for everyone whether digital currency will replace paper money, and paper money will be gone unused. But in my country paper money demand is still very high, although digital currency is now also widely used. For at least 10 years paper money will still be used widely. And I think until whenever the paper money will not be replaced although growing digital currency. It would be very difficult to replace paper money.

My understanding to that is, we will still use paper money even if the world is moving fast, digital currency is the new trend now but we still
cannot deny that majority of the worlds population are living in poverty and i don't think they will be interested with technology, they are focus
on their basic needs, food and shelter is what they need.

DocGTR

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Quote from: mharz on April 18, 2017, 04:50:10 AM

Paper money will become useless if they go to the modern era. Paper money will become ordinary paper when they go to the digital currency. No one called money it only called Digital money.

To begin with, you need to adjust the work of digital currencies. In my country, it is not always possible to pay off digital money anywhere and paper money is very popular.

cybersofts

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Quote from: Huobi-USD on September 21, 2015, 02:23:32 AM

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?

Well, paper money would continue used by people as government and bank allows transaction in paper money... and also not everyone is interested on bitcoin and computing world in-general. there's is a huge number of people out there that still don't understand the concept of bitcoin and cryptocurrency. Thus, the challenge remains because not everybody trust in digital currency, more than half of the people still prefer paper money than digital currency because it's physical and easily accepted by people and banks. For digital currency must of the people that are using digital are currency are nerdy and computer literate and actually knows where to spend the bitcoins as well.

Bitcoin is surely the currency of the future and the future is now for us! for us, paper money is nothing but garbage because we're living in the future! though there's a lot of people that still doesn't know anything about the bitcoin world, and that is where the paper money would still work because those people are still leaving in the dark age! So, digital and paper currency would be used both by people based on their knowledge, skills and experiences. But in-time, sooner or later the paper money would fade away like how gold coins fades away in the 20th century!

icecube45

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Quote from: mharz on April 18, 2017, 04:50:10 AM

Paper money will become useless if they go to the modern era. Paper money will become ordinary paper when they go to the digital currency. No one called money it only called Digital money.

Still a debate for everyone whether digital currency will replace paper money, and paper money will be gone unused. But in my country paper money demand is still very high, although digital currency is now also widely used. For at least 10 years paper money will still be used widely. And I think until whenever the paper money will not be replaced although growing digital currency. It would be very difficult to replace paper money.

mharz

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Paper money will become useless if they go to the modern era. Paper money will become ordinary paper when they go to the digital currency. No one called money it only called Digital money.

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