The future of the paper money - page 13.

MuffinMaster

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Pepemo.vip

Quote from: Huobi-USD on September 21, 2015, 03:23:32 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?

1. Yes it is possible and only thing which can done this are banks for me. 2. In next 10/15 years. 3. At the beggining not but after some time people would get used to it. 4. It would be more safety. 5. Like i said after some time people would recognize that it is better than normal money.

millionaireshs

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Quote from: Huobi-USD on September 21, 2015, 03:23:32 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?

Not everyone can access Bitcoin so paper money shouldn't banned entirely. It is better for us to accept the accompaniment of digital and traditional currency. Both parties have its own characteristics making them unique with each other, we can/should develop our currency as well as our economy not by changing it but improving it.

Martinkuhn

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0xf54CA5618b90810722B0e833DC150a97743A40B4

paper money is used to pay for more drugs than BTC or any crypto will ever match.

It is the most anonymous form of currency and we ought to ban it!

Ban paper money and adopt crypto currencies so that we can track every single dollar spent and tax everyone equally.

No one will be able to escape tax! Isnt that great?

But seriously, I think paper money is going extinct in a few years time. It is getting expensive to print paper money as we need to keep adding on features to prevent counterfeit all the time.

Every nation ought to move to crypto ... it can be their own state-backed crypto so that their monetary authority can still maintain control or they can adopt the use of a public blockchain cryptocurrency. But no more paper money..

Semosuchi Tesongrato

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Rasputin Party Mansion

There is a strong opposition by governments against paper money, because it's difficult to trace it, and in some countries as Sweden it's more and more difficult to pay cash.
But this is the exact opposite of cryptocurrency, because a centralized electronic coin it's completely under the government control. Scaring.

eelectrick

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Activity: 217

Merit: 1

Quote from: faithupgrade on March 02, 2018, 09:25:00 PM

I'll tell you guys, the future of worlds currency is in crypto. We are going to be cashless someday. The world will have a one currency to be ruled by a one man, which is actually the devil. Money will be stored from humans body thru rfid microchip.

I must respectfully disagree, the form of money as currency has been around for a long long time. With each civilization
there is a currency or system introduced. But with the arrival of the industrialization era until today the paper money has
always been a reliable form of prevalence and legal tender. It inspired or orchestrated the development of societies,
communities and industries. Cryptocurrency is undoubtedly impressive and accelerating, I think it will change and influence
things but not fully abolish paper money. We currently are dependent on it, it's part of our future and crypto beside it.

faithupgrade

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ARCS - A New World Token

I'll tell you guys, the future of worlds currency is in crypto. We are going to be cashless someday. The world will have a one currency to be ruled by a one man, which is actually the devil. Money will be stored from humans body thru rfid microchip.

robbietobby

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Merit: 11

This is very dependable to the state of ecoomy in every country. Most probably, most countries will not banned the actual physical money in lieu to the digital money. Because it is still the best way of money transaction. Powered by digital currency may conduct glitches and mistakes in the system which may cause harm to the end-user.

roadwell890

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Quote from: Huobi-USD on September 21, 2015, 03:23:32 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?

yes maybe there will be a period where all the people in the world will make transactions with a card for the purpose of buying meat in the market, paying taxi fares, buying massage services, and so forth
but the government must also know what effect it would have if they adopted the all-digital system

PranDoW

sr. member

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Paper money gonna day soon. Cards, services like paypal and digital money like crypto coins

sopromat

full member

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Paper money will always remain. Still illiteracy problem over world is not solved. Many people don't know about computer. If still any government issue crypto currency then it may not be adoptable by major people.

Edward Finney

newbie

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Yes at the current rate I could see it getting banned. How long? I think maybe over the next ten/fifteen years. I think the privacy concerns are huge. Banning cash will generate new steet currency's I think other than a cryptocurrency.

Alijiindahaus

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Quote from: ?? on ??

The future of our money, I think, it will dissolve. As we can see, bitcoins and other form of virtual money invented fast and fast. We can consider now that our paper money will be obsolete and we will having a new technology for our next generations of new technology.

and I think quite differently, as real paper money have a much more prospects in the future. I think that is easier to do gold and silver coins in everyday life than bitcoin as payment means. not all people will be able to use кpиптoвaлютy everyday to and at the same time not all will have sufficient knowledge and technical resources for it.

surfinonmyownwavebaby

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Decentralized Ecosystem for User-Generated Content

Quote from: ?? on ??

Paper money won't disappear, it can become less widely used yes but it is the only current payment method that works offline. What do you think we are going to do when the internet is down or when there is a power outage? Stop making transactions? No people will use paper money. Wink

It will disappear, when was the last time the internet went down world wide? I believe it was never and that is the power behind having a bunch of computers doing the work. That is the benefit behind having decentralization and not centralization in one spot. Ergo, if electricity goes out in one part of the world we are okay, you would need either power outage or internet outage in the whole world which is extremely unlikely.

piterpie

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Quote from: randy8777 on September 21, 2015, 03:35:14 AM

governments simply aren't interested in incorporating bitcoin. they can't deal with the fact that it is something they can't control. paper money will stay at least for another 10-20 years.

Paper money has been around for a long time and is widely supported, but now that technology is growing, and digital cash is gaining in popularity in the world, I think not long ago the coins Virtual will be on the market in many countries around the world.

btcbabhh

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I think that paper money will eventually disappear but not in the nearest future. It doesn't mean that another form of solid currency will not exist. It will, but in some other form than paper I think. The non-cash currencies will be in the major someday.

Tukang Becak

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Merit: 500

Quote from: Akupuniard on March 02, 2018, 11:28:41 AM

Paper money will stay with us for a long time. To change everything and replace paper to digital government should be sure that their system will never been hacked.

Yes, paper money is the identity of the state is impossible for the state to let paper money disappear, besides of course the transaction with paper money is a faster and easier thing so it is not affected when there is no internet.

Bosx1ne

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Quote from: Huobi-USD on September 21, 2015, 03:23:32 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?

The payment that will use in the future is depend on the people in our society. The people in our society have a power to change the payment system. It depend on us if we will let the cashless society will happen.

ewonardo

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Quote from: Akupuniard on March 02, 2018, 11:28:41 AM

Paper money will stay with us for a long time. To change everything and replace paper to digital government should be sure that their system will never been hacked.

Yeah, I don't think paper money will be swapped out from the world to be digital money in near future also. Paper money will still exist even the digital money comes in the future. People already fine using paper money and it takes time to courage them to use digital money like Bitcoin/Altcoin.

Xenoph0bia

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Quote from: King Sastro on March 02, 2018, 01:20:06 PM

I think paper money will continue to last until the world ends, this is because the consideration that the transaction must be done directly so that using paper money faster and directly accepted rather than waiting or dependent with the internet.

The future of paper money is fully safe and secured.Paper money will continue to function till the end of eternity.The whole world uses paper money and it is accepted internationally.All the transactions are done through it.The paper money is also backed by the central bank and the governments.So they will do anything to maintain its integrity.It can be used physically unlike cryptocurrencies which need internet connection that is not possible everywhere.

King Sastro

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I think paper money will continue to last until the world ends, this is because the consideration that the transaction must be done directly so that using paper money faster and directly accepted rather than waiting or dependent with the internet.

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