The future of the paper money - page 126.

batang_bitcoin

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Quote from: BeGoods on April 04, 2017, 06:43:52 PM

Quote from: ?? on ??

Quote from: BeGoods on March 31, 2017, 06:46:57 PM

Quote from: creative~mind on March 19, 2017, 06:21:01 PM

I think the future of paper money is to fall in value, and it is not because of the physical form, but the way the currency is issued. With Bitcoin things are more efficient, since you do not have to depend on politicians.

yeah I also think that it would completely simple and efficient method of payment of paper money will be rarely used in the future. but it does not necessarily bitcoin will replace it lol

I can see that the future of paper money seems to fall too but it doesn't mean it will make the economy of a country fall too. It will only make a difference on what we use to see, government bodies will certainly make the same thing as crypto currency or should I say a digital money and it's going to happen in the future.

It's just changing times and it will not make the economy of a country falling. changing times becomes more advanced it is uncertain and can not be avoided paper money will be replaced by something new

Yes, if you will read what I've said that there would be change with the paper money but there would be no mean of making the economy to fall. And it's what I've saying that paper money will be replaced by another means of payment and has monetary value. And that's a real speculation, we are near to become a cashless society.

BeGoods

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Quote from: BeGoods on March 31, 2017, 06:46:57 PM

Quote from: creative~mind on March 19, 2017, 06:21:01 PM

I think the future of paper money is to fall in value, and it is not because of the physical form, but the way the currency is issued. With Bitcoin things are more efficient, since you do not have to depend on politicians.

yeah I also think that it would completely simple and efficient method of payment of paper money will be rarely used in the future. but it does not necessarily bitcoin will replace it lol

I can see that the future of paper money seems to fall too but it doesn't mean it will make the economy of a country fall too. It will only make a difference on what we use to see, government bodies will certainly make the same thing as crypto currency or should I say a digital money and it's going to happen in the future.

It's just changing times and it will not make the economy of a country falling. changing times becomes more advanced it is uncertain and can not be avoided paper money will be replaced by something new

mornabo

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Quote from: DoublerHunter on April 01, 2017, 05:58:01 AM

Quote from: raven7886 on April 01, 2017, 05:44:02 AM

Quote from: wxa7115 on March 31, 2017, 03:25:55 PM

Paper money will survive simply because it is one of the easiest ways to reach the whole population especially those that do no have access to banking services but as time has come to pass most of the money of the world now is in electronic form.

I agree, people are used to reaching in into their pockets and grabbing couple of bucks to pay for thing, and that seems a lot of an easier idea for them than reaching for their phone and putting passwords and paying with bitcoin, I think that bitcoin is not meant to be for everyone to use it is purely for people who are shopping on the internet.

Yes bitcoin is not to consider as a full replacement for our paper money because, in fact, bitcoin is just an addition for people like us to get an easier option for paying our bills online or doing other payment thru the internet and not a hassle way like going into the physical places. We don't need replacement for the fiat because fiat is created for its unique purposes as well as bitcoin.

not necessarily when paper money began outdated and not used, then bitcoin will replace him? I do not think it will be that easy. especially bitcoin is still banned by the government

cryp24x

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Quote from: andrew24p on April 04, 2017, 04:28:17 PM

paper money or cash will die, but I dont see it happening in the US for another 30 or so years. They will slowly pull it out of circulation and not just ban it all at once.

Paper money will definitely become obsolete and replaced by digital currencies. It is the fate of Paper money. Somehow it needs to evolve into something more appropriate to its current technology. And that evolution will be, becoming a digital currency where transfers and transaction is much easier and faster.

andrew24p

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paper money or cash will die, but I dont see it happening in the US for another 30 or so years. They will slowly pull it out of circulation and not just ban it all at once.

Rostadom

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Quote from: djordjamayna on April 04, 2017, 05:42:20 AM

I don't think paper money would be removed. You can pull 10k from your pocket but you can't pull the 10 bitcoins that's the thing

Bitcoin doesn't have a physical appearance but maybe that's a good thing. Someone who has 1 million dollars in paper money can go out and he will have to put it in a huge bag. You can't possibly put all those money in your pocket. While a bitcoin user only have his phone with the bitcoin wallet saved in it.

If he use his phone, no one's going to suspect that he's holding 1 million dollars worth of bitcoins. They would think that he's just there, using his phone, maybe contacting someone, whatever. But if someone has a bag full of money and he opens it, (depending on the place) he will get robbed almost instantly.

DoublerHunter

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Quote from: djordjamayna on April 04, 2017, 05:42:20 AM

I don't think paper money would be removed. You can pull 10k from your pocket but you can't pull the 10 bitcoins that's the thing

Yes paper money will not be removed because that is the traditional kind of way we like in doing transactions either small or big but in terms of bitcoin it will be added as a secondary money for us because it is very easy to carry because no one will notice that you have million dollars in your hand by just looking at your phone Roll Eyes

.

djordjamayna

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I don't think paper money would be removed. You can pull 10k from your pocket but you can't pull the 10 bitcoins that's the thing

00hash01

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Quote from: magneto on April 04, 2017, 02:40:48 AM

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?

Lol, there is no future for paper money.

Not only is it worthless, and fiat currency should always avoided at all costs by people around the world, it is also getting increasingly expensive for the government to run their fiat currency scam.

They could switch to centralised cryptocurrencies and save a ton on printing virtual money.

Paper money can not disappear. Because there can be a situation when the Internet or electricity is turned off all over the world and then virtual money will not help. There must always be an alternative.

magneto

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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?

Lol, there is no future for paper money.

Not only is it worthless, and fiat currency should always avoided at all costs by people around the world, it is also getting increasingly expensive for the government to run their fiat currency scam.

They could switch to centralised cryptocurrencies and save a ton on printing virtual money.

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Quote from: mornabo on March 19, 2017, 07:31:02 PM

Quote from: creative~mind on March 19, 2017, 06:21:01 PM

I think the future of paper money is to fall in value, and it is not because of the physical form, but the way the currency is issued. With Bitcoin things are more efficient, since you do not have to depend on politicians.

I thought decentralization would be prohibited by the government so I would be quite doubtful if bitcoin will replace paper money certainly the government has prepared a substitute for paper money.

currently it look like difficult but i i think as soon as time pass bitcoin is becoming more and more popular and therefore we can hope that in future it may be possible to replace fiat by bitcoin.

We see 10 years again, if a bitcoin can survive then bitcoin will become a candidate world currencies that will be used in many countries. Although very popular, fiat money will continues to survive because of fiat money and paper money is a symbol of the State.

Maybe that you mean as an alternative currency? If true I agree with you, in the future bitcoin will be an alternative currency. But paper money will survive because like you say it is a symbol of the state, or more precisely the identity of a country.

If I see a previous comment that states in future value of paper money will fall it could be yes and no. But not in the way the currency is issued, but because there is a war that causes inflation or hyperinflation or maybe other conditions. But it was only for some time and then restored.

Paper money will survive simply because it is one of the easiest ways to reach the whole population especially those that do no have access to banking services but as time has come to pass most of the money of the world now is in electronic form.

It seems to me that paper money is beneficial to those who use illegal incomes. Cash is very difficult to control. As soon as politicians stop taking bribes, paper money will cease to exist.

Cash is useful for those that don’t have bank accounts or access to banks, also most of the bribes are not done in cash they are done within the banking system using accounts with fake names or companies where banking secrecy is still very strong and protects criminals.

deisik

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Quote from: jaysabi on March 21, 2017, 06:42:35 PM

Quote from: MONKEYJUNK on March 21, 2017, 10:52:41 AM

paper money have your days count

While I agree with you, it's not because of Bitcoin. Digital fiat is the reason paper currency will go away, as I find digital fiat to be far more versatile and stable than any crypto. Bitcoin might be the best crypto, but all that makes it is the best version of the least dependable payment option

And what does that have to do with the price of tea in China?

More specifically, if you find "digital fiat to be far more versatile and stable" than any cryptocurrency out there, what does this comparison have to do with paper money? Should we thus conclude that digital fiat is more stable than its representation in the form of paper bills? In a sense, digital fiat can in fact be considered more stable since it is basically indestructible unless you blow up a central bank server room (provided there is any, in the first place), but this doesn't seem to be what you likely meant to say

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Quote from: Vaskiy on April 01, 2017, 09:56:53 AM

Quote from: DoublerHunter on April 01, 2017, 05:58:01 AM

Quote from: raven7886 on April 01, 2017, 05:44:02 AM

Quote from: wxa7115 on March 31, 2017, 03:25:55 PM

Paper money will survive simply because it is one of the easiest ways to reach the whole population especially those that do no have access to banking services but as time has come to pass most of the money of the world now is in electronic form.

I agree, people are used to reaching in into their pockets and grabbing couple of bucks to pay for thing, and that seems a lot of an easier idea for them than reaching for their phone and putting passwords and paying with bitcoin, I think that bitcoin is not meant to be for everyone to use it is purely for people who are shopping on the internet.

Yes bitcoin is not to consider as a full replacement for our paper money because, in fact, bitcoin is just an addition for people like us to get an easier option for paying our bills online or doing other payment thru the internet and not a hassle way like going into the physical places. We don't need replacement for the fiat because fiat is created for its unique purposes as well as bitcoin.

Bitcoin is a secondary source which is getting stronger to go mainstream with its growth and technology advancing. Right now if bitcoin have got paper form it could have reached more users who are unaware of bitcoin and other virtual currencies.

There will be a lot of changes if it got a physical form. This value also could may not be reached because of that. We know there are too much currencies in our world there are strong and weak and most of the people invest their money in USD even if they are from other countries.
Paper money is strong because of that and also because it is legal. Making a physical form for bitcoin already didn't work and might not also in the future.

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Quote from: DoublerHunter on April 01, 2017, 05:58:01 AM

Quote from: raven7886 on April 01, 2017, 05:44:02 AM

Quote from: wxa7115 on March 31, 2017, 03:25:55 PM

Paper money will survive simply because it is one of the easiest ways to reach the whole population especially those that do no have access to banking services but as time has come to pass most of the money of the world now is in electronic form.

I agree, people are used to reaching in into their pockets and grabbing couple of bucks to pay for thing, and that seems a lot of an easier idea for them than reaching for their phone and putting passwords and paying with bitcoin, I think that bitcoin is not meant to be for everyone to use it is purely for people who are shopping on the internet.

Yes bitcoin is not to consider as a full replacement for our paper money because, in fact, bitcoin is just an addition for people like us to get an easier option for paying our bills online or doing other payment thru the internet and not a hassle way like going into the physical places. We don't need replacement for the fiat because fiat is created for its unique purposes as well as bitcoin.

Bitcoin is a secondary source which is getting stronger to go mainstream with its growth and technology advancing. Right now if bitcoin have got paper form it could have reached more users who are unaware of bitcoin and other virtual currencies.

Japinat

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Quote from: DoublerHunter on April 01, 2017, 05:58:01 AM

Quote from: raven7886 on April 01, 2017, 05:44:02 AM

Quote from: wxa7115 on March 31, 2017, 03:25:55 PM

Paper money will survive simply because it is one of the easiest ways to reach the whole population especially those that do no have access to banking services but as time has come to pass most of the money of the world now is in electronic form.

I agree, people are used to reaching in into their pockets and grabbing couple of bucks to pay for thing, and that seems a lot of an easier idea for them than reaching for their phone and putting passwords and paying with bitcoin, I think that bitcoin is not meant to be for everyone to use it is purely for people who are shopping on the internet.

Yes bitcoin is not to consider as a full replacement for our paper money because, in fact, bitcoin is just an addition for people like us to get an easier option for paying our bills online or doing other payment thru the internet and not a hassle way like going into the physical places. We don't need replacement for the fiat because fiat is created for its unique purposes as well as bitcoin.

Addition means they are on the same level, it's not actually because bitcoin was never considered as legal tender as per definition of the government standard. A real money is the money that was created by the government for it's people, bitcoin is not because it is created by an anonymous person which until now we do not really know his real identity. Let's face the fact that bitcoin will never replace or level to fiat but it will bring good satisfaction to the people who knows how to use it up to a certain level of limitations only.

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Quote from: dearbesz1219 on April 01, 2017, 07:01:23 AM

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?

Paper money will be banned entirely?
Yes, it is possible to be happen once the one world currency appear in this world.

How long do you think that happens?
that's the question we do not know when will it be happen, it maybe if all nations will adopt bitcoin.

would it work?
I think so Wink

I don't think so. Paper money can't be banned entirely as not all people will have access to alternatives such as digital and cryptocurrencies. If you look at how most people do transactions today, most in general are still dependent on paper money exchange and I think this trend will have a very long existence. We also can't have only one currency as there are too many different culture and practices in this world that would not adopt a single currency that benefits a few countries

dearbesz1219

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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?

Paper money will be banned entirely?
Yes, it is possible to be happen once the one world currency appear in this world.

How long do you think that happens?
that's the question we do not know when will it be happen, it maybe if all nations will adopt bitcoin.

would it work?
I think so Wink

DoublerHunter

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Quote from: raven7886 on April 01, 2017, 05:44:02 AM

Quote from: wxa7115 on March 31, 2017, 03:25:55 PM

Paper money will survive simply because it is one of the easiest ways to reach the whole population especially those that do no have access to banking services but as time has come to pass most of the money of the world now is in electronic form.

I agree, people are used to reaching in into their pockets and grabbing couple of bucks to pay for thing, and that seems a lot of an easier idea for them than reaching for their phone and putting passwords and paying with bitcoin, I think that bitcoin is not meant to be for everyone to use it is purely for people who are shopping on the internet.

Yes bitcoin is not to consider as a full replacement for our paper money because, in fact, bitcoin is just an addition for people like us to get an easier option for paying our bills online or doing other payment thru the internet and not a hassle way like going into the physical places. We don't need replacement for the fiat because fiat is created for its unique purposes as well as bitcoin.

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Quote from: wxa7115 on March 31, 2017, 03:25:55 PM

Paper money will survive simply because it is one of the easiest ways to reach the whole population especially those that do no have access to banking services but as time has come to pass most of the money of the world now is in electronic form.

I agree, people are used to reaching in into their pockets and grabbing couple of bucks to pay for thing, and that seems a lot of an easier idea for them than reaching for their phone and putting passwords and paying with bitcoin, I think that bitcoin is not meant to be for everyone to use it is purely for people who are shopping on the internet.

Xester

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Quote from: jaysabi on March 21, 2017, 06:42:35 PM

Quote from: MONKEYJUNK on March 21, 2017, 10:52:41 AM

paper money have your days count

While I agree with you, it's not because of Bitcoin. Digital fiat is the reason paper currency will go away, as I find digital fiat to be far more versatile and stable than any crypto. Bitcoin might be the best crypto, but all that makes it is the best version of the least dependable payment option.

The society is now turning into a digital society. This does not only happens on business transactions and any related activities but also to our current paper money which is seen to be replace into a digital currency in the future. It is not clear if bitcoin will be that currency or it will be another version of the fiat currency that will evolved into digital cash.

Topic: The future of the paper money - page 126. (Read 416603 times)