The future of the paper money - page 145.

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Quote from: deisik on January 31, 2017, 05:21:42 PM

Quote from: Pattart on January 27, 2017, 07:24:40 PM

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Quote from: Bitcoinsummoner on January 27, 2017, 02:53:26 PM

Many people are thinking that bitcoin will be paper money but i thiknk we have already a paper money which is our paper wallet contains private key. but bitcoin will never be the same as fiat that has paper money.. since bitcoin is just alternative payment processor we can only use it online and now many sites are accepting it even here in my school i found someone now are studying bitcoin and they are earnings few bitcoins ..

I also never heard of it. many people who say that perhaps bitcoin will be released in a form of paper money, and I also thought like that. but, basically bitcoin has had the best form, ie as cryptocurrency, and it has become a tool of the best deals on the internet. Well, I believe that paper money will only be used for the fiat, not for bitcoin.

I think it would be a setback for the technology when bitcoin bitcoin create a paper version. because as you've said cryptocurrency or virtual currency has been the best form of a currency

Paper bitcoins (otherwise known as bitnotes) can be useful too

As with everything else, Bitcoin faces the last mile problem. To transact with it, you need Internet access (just like with Internet banking). Bitnotes can effectively solve this issue if they are issued in a unified way as well as accepted by major Bitcoin payment processors (Bitcoin protobanks) which have physical presence. As to me, the advantages of paper bitcoins heavily outweigh possible drawbacks and problems that could arise. But these may not be possible until governments universally accept Bitcoin as a legit means of payment

How could physical bitcoin (bitnotes, or otherwise) ever be secure? They would be massively easy to counterfeit and anyone accepting one could never be sure they actually own the value denoted by the physical note, because the true ownership of bitcoin is dictated by an electronic ledger. I could hand you a physical bitnote, and then use the private key for the bitcoin it represents and go and spend those bitcoins electronically. You then would not own the bitcoins the note represents, because you have no ability to move them in the blockchain. I don't see a way to ever have a secure physical bitcoin, because the private key dictates ownership, not the physical note.

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Quote from: mayxi865 on February 05, 2017, 02:24:55 AM

Bitcoin is an international currency in the online world, the world's largest currency or U.S. dollar, bitcoin may be higher than the future status of the RMB.

Bitcoin is really international crypto currency but only on online world, that's why bitcoin can't comparison with fiat currency of dollar. In my thinking, it is totally wrong thinking that bitcoin will be comparison with fiat in present and also in future. Fiat or paper money always be remain now and in future, may be bitcoin will be die in future but fiat still alive in this world.

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Quote from: Pattart on February 05, 2017, 07:11:54 AM

Quote from: mayxi865 on February 05, 2017, 02:24:55 AM

Bitcoin is an international currency in the online world, the world's largest currency or U.S. dollar, bitcoin may be higher than the future status of the RMB.

for now only be an option for bitcoin payment methods online, but I think bitcoin will be much more popular in the future. and would be more widely used and accepted for paper money itself. I think the paper money will not have a bright future

yes we all know that every thing in this world is being inovated. so as our paper fiat currency. birtual money is established before bitcoins and it is also used as the payment for everything. it is called as a atmcard or debit card. but as the features of bitcoin, bitcoin can dominate all virtual currency as it is more useful and more convinient to use. less hassle and can be use fast.

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Quote from: mayxi865 on February 05, 2017, 02:24:55 AM

Bitcoin is an international currency in the online world, the world's largest currency or U.S. dollar, bitcoin may be higher than the future status of the RMB.

for now only be an option for bitcoin payment methods online, but I think bitcoin will be much more popular in the future. and would be more widely used and accepted for paper money itself. I think the paper money will not have a bright future

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Quote from: Chairul Muttaqin on February 04, 2017, 08:31:35 PM

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?

I think the use of paper money at this time slightly altered by their digital money may in the future use of digital money is more dominant because it is easier in their transactions faster and also be sent anywhere as Bitcoin is also easier to transport and requires only low fee.

yes this is true that digital money can dominate our paper money. as of today even if bitcoin is not yet introduced to the market. the governemnt of every country is letting us to use digital currency. examples are the automated tellering machine as it doesnt require you to have a paper money to go shopping or payment. just a single swipe can do the work.

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Bitcoin is an international currency in the online world, the world's largest currency or U.S. dollar, bitcoin may be higher than the future status of the RMB.

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Quote from: hamiltonik on February 04, 2017, 12:53:34 PM

Quote from: Tanic on February 04, 2017, 12:07:01 PM

Quote from: Victorycoin on February 04, 2017, 11:55:17 AM

Quote from: Shady on February 03, 2017, 05:59:48 PM

Since BTC or other digital currencies require people to be in communities or become tech savvy to figure out, entirety remains with its reliance on exchanging to and from fist. The need to be in every country may be unattractive if so few countries become dependent.

Don't ignore using it, but paper is universal and tied to infrastructure across the globe. People use USD, AUD, GBP + Euro as reserve currencies in 76+ countries so making exclusive amendments locally will likely turn to changes in what's stockpiled.

People will always use paper as a secure solution for expensive savings + leisure trade.

Once upon a time, there was nothing like paper money, it was merely introduced to the society in much the same way, Bitcoin is being introduced now. So just give it time, people can always tell apart what is convenient, secured, little or no cost, a real store of value. By the way, those papers are just piece of papers backed by nothing.

I am agree. Paper money is going to fall in history the same way as payment with shells or stones. I think crypto currencies will change paper money one day. But this day will come not so soon. Bitcoin and other crypto currencies have to be known for that. For now just a little % of people use and know it.

Yes, you are right now very few people know about Bitcoin.
And many do not trust cryptocurrency and therefore use traditional money.
This means that paper money will continue to exist for a long time.

for the lifetime of the paper money itself I'm sure, paper money will live for hundreds of years. for digital money will replace paper money in that period, to cryptocurrency itself might have a wonderful future

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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?

I think the use of paper money at this time slightly altered by their digital money may in the future use of digital money is more dominant because it is easier in their transactions faster and also be sent anywhere as Bitcoin is also easier to transport and requires only low fee.

Musent

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Quote from: hamiltonik on February 04, 2017, 12:53:34 PM

Quote from: Tanic on February 04, 2017, 12:07:01 PM

Quote from: Victorycoin on February 04, 2017, 11:55:17 AM

Quote from: Shady on February 03, 2017, 05:59:48 PM

Since BTC or other digital currencies require people to be in communities or become tech savvy to figure out, entirety remains with its reliance on exchanging to and from fist. The need to be in every country may be unattractive if so few countries become dependent.

Don't ignore using it, but paper is universal and tied to infrastructure across the globe. People use USD, AUD, GBP + Euro as reserve currencies in 76+ countries so making exclusive amendments locally will likely turn to changes in what's stockpiled.

People will always use paper as a secure solution for expensive savings + leisure trade.

Once upon a time, there was nothing like paper money, it was merely introduced to the society in much the same way, Bitcoin is being introduced now. So just give it time, people can always tell apart what is convenient, secured, little or no cost, a real store of value. By the way, those papers are just piece of papers backed by nothing.

I am agree. Paper money is going to fall in history the same way as payment with shells or stones. I think crypto currencies will change paper money one day. But this day will come not so soon. Bitcoin and other crypto currencies have to be known for that. For now just a little % of people use and know it.

Yes, you are right now very few people know about Bitcoin.
And many do not trust cryptocurrency and therefore use traditional money.
This means that paper money will continue to exist for a long time.

Paper money will surely exist in future but there will be decrease in the usage of fiat once people get aware about bitcoins as people have already started to use cards for shopping and prefer to go for cashless transactions so once bitcoin reaches to them it won't take much time to adopt bitcoins for making payments and once they find merchants accepting bitcoins then it will encourage them to know more about bitcoins.

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Quote from: Natalim on February 03, 2017, 10:23:45 PM

Quote from: South Park on February 03, 2017, 05:41:39 PM

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Quote from: South Park on February 02, 2017, 01:19:47 PM

Quote from: Grdas130979 on February 01, 2017, 01:55:08 AM

I believe paper money will eventually go away, but not because its a good thing, but rather because goverments will control every aspect of life. It will be very difficult to do anything anonymous, but thats why we need decentralized money, thats why BTC and other alts are so important.

Governments will try that is for sure, but that does not mean they are going to succeed, there are many intelligent people doing their best to counter that tendency with new developments, and encryption seems like the best way to protect your privacy, at least while you are online.

Let us look on a more broader sense. In a country a government runs the progress of their society, what would you think will happen if money in that country is decentralized? Of course the government won't be the only one controlling the country's money but other people can, It can lead into more abuse than you think. Having a money that is controlled by the government is much safer.

What kind of abuses could happen with a decentralized currency that could not happen with a centralized currency? Money laundering? That already happens and it is more widespread with fiat than with bitcoin. Counterfeit? There is no way to counterfeit bitcoin unlike fiat.

I guess he has a point dude, the world is created to have a centralization for the government to monitor and maintain the peace and order in this world. Without peace and order, your money has no value, the economy will collapse and crimes will be rampant. With decentralization, some might manipulate the system and crimes will come, think that when government has no power to control the crime online, it will be a big threat for us.

Then if that is the purpose of governments could you tell me why is crime so rampant in the world? Not only in this era but in all the eras before? Besides the only reason Money needs the backing of the government is because the currency has value because the governments say it does, that is why it is called fiat. In the past when the currencies were made of gold that was not necessary.

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Quote from: Tanic on February 04, 2017, 12:07:01 PM

Quote from: Victorycoin on February 04, 2017, 11:55:17 AM

Quote from: Shady on February 03, 2017, 05:59:48 PM

Since BTC or other digital currencies require people to be in communities or become tech savvy to figure out, entirety remains with its reliance on exchanging to and from fist. The need to be in every country may be unattractive if so few countries become dependent.

Don't ignore using it, but paper is universal and tied to infrastructure across the globe. People use USD, AUD, GBP + Euro as reserve currencies in 76+ countries so making exclusive amendments locally will likely turn to changes in what's stockpiled.

People will always use paper as a secure solution for expensive savings + leisure trade.

Once upon a time, there was nothing like paper money, it was merely introduced to the society in much the same way, Bitcoin is being introduced now. So just give it time, people can always tell apart what is convenient, secured, little or no cost, a real store of value. By the way, those papers are just piece of papers backed by nothing.

I am agree. Paper money is going to fall in history the same way as payment with shells or stones. I think crypto currencies will change paper money one day. But this day will come not so soon. Bitcoin and other crypto currencies have to be known for that. For now just a little % of people use and know it.

Yes, you are right now very few people know about Bitcoin.
And many do not trust cryptocurrency and therefore use traditional money.
This means that paper money will continue to exist for a long time.

Tanic

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Quote from: Victorycoin on February 04, 2017, 11:55:17 AM

Quote from: Shady on February 03, 2017, 05:59:48 PM

Since BTC or other digital currencies require people to be in communities or become tech savvy to figure out, entirety remains with its reliance on exchanging to and from fist. The need to be in every country may be unattractive if so few countries become dependent.

Don't ignore using it, but paper is universal and tied to infrastructure across the globe. People use USD, AUD, GBP + Euro as reserve currencies in 76+ countries so making exclusive amendments locally will likely turn to changes in what's stockpiled.

People will always use paper as a secure solution for expensive savings + leisure trade.

Once upon a time, there was nothing like paper money, it was merely introduced to the society in much the same way, Bitcoin is being introduced now. So just give it time, people can always tell apart what is convenient, secured, little or no cost, a real store of value. By the way, those papers are just piece of papers backed by nothing.

I am agree. Paper money is going to fall in history the same way as payment with shells or stones. I think crypto currencies will change paper money one day. But this day will come not so soon. Bitcoin and other crypto currencies have to be known for that. For now just a little % of people use and know it.

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Quote from: Shady on February 03, 2017, 05:59:48 PM

Since BTC or other digital currencies require people to be in communities or become tech savvy to figure out, entirety remains with its reliance on exchanging to and from fist. The need to be in every country may be unattractive if so few countries become dependent.

Don't ignore using it, but paper is universal and tied to infrastructure across the globe. People use USD, AUD, GBP + Euro as reserve currencies in 76+ countries so making exclusive amendments locally will likely turn to changes in what's stockpiled.

People will always use paper as a secure solution for expensive savings + leisure trade.

Once upon a time, there was nothing like paper money, it was merely introduced to the society in much the same way, Bitcoin is being introduced now. So just give it time, people can always tell apart what is convenient, secured, little or no cost, a real store of value. By the way, those papers are just piece of papers backed by nothing.

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Quote from: MMA on February 04, 2017, 04:21:40 AM

Quote from: Natalim on February 03, 2017, 10:23:45 PM

Quote from: South Park on February 03, 2017, 05:41:39 PM

Quote from: Theb on February 02, 2017, 01:26:47 PM

Quote from: South Park on February 02, 2017, 01:19:47 PM

Quote from: Grdas130979 on February 01, 2017, 01:55:08 AM

I believe paper money will eventually go away, but not because its a good thing, but rather because goverments will control every aspect of life. It will be very difficult to do anything anonymous, but thats why we need decentralized money, thats why BTC and other alts are so important.

Governments will try that is for sure, but that does not mean they are going to succeed, there are many intelligent people doing their best to counter that tendency with new developments, and encryption seems like the best way to protect your privacy, at least while you are online.

Let us look on a more broader sense. In a country a government runs the progress of their society, what would you think will happen if money in that country is decentralized? Of course the government won't be the only one controlling the country's money but other people can, It can lead into more abuse than you think. Having a money that is controlled by the government is much safer.

What kind of abuses could happen with a decentralized currency that could not happen with a centralized currency? Money laundering? That already happens and it is more widespread with fiat than with bitcoin. Counterfeit? There is no way to counterfeit bitcoin unlike fiat.

I guess he has a point dude, the world is created to have a centralization for the government to monitor and maintain the peace and order in this world. Without peace and order, your money has no value, the economy will collapse and crimes will be rampant. With decentralization, some might manipulate the system and crimes will come, think that when government has no power to control the crime online, it will be a big threat for us.

then why are we speaking about the global worlds. do you not think that if the whole world combine on one point and decide to live in group and finish the border differences, currency differences. we can live like one nation and hope that there will be more peace harmony and love for each other, but i think it is not such an easy job.

Not an easy job as well the chances were very low. Countries have differences of opinion when it comes to border to other development. If it happen peace and harmony will not be there, often violence out burst as people belonging to each country live as a group.

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Quote from: Natalim on February 03, 2017, 10:23:45 PM

Quote from: South Park on February 03, 2017, 05:41:39 PM

Quote from: Theb on February 02, 2017, 01:26:47 PM

Quote from: South Park on February 02, 2017, 01:19:47 PM

Quote from: Grdas130979 on February 01, 2017, 01:55:08 AM

I believe paper money will eventually go away, but not because its a good thing, but rather because goverments will control every aspect of life. It will be very difficult to do anything anonymous, but thats why we need decentralized money, thats why BTC and other alts are so important.

Governments will try that is for sure, but that does not mean they are going to succeed, there are many intelligent people doing their best to counter that tendency with new developments, and encryption seems like the best way to protect your privacy, at least while you are online.

Let us look on a more broader sense. In a country a government runs the progress of their society, what would you think will happen if money in that country is decentralized? Of course the government won't be the only one controlling the country's money but other people can, It can lead into more abuse than you think. Having a money that is controlled by the government is much safer.

What kind of abuses could happen with a decentralized currency that could not happen with a centralized currency? Money laundering? That already happens and it is more widespread with fiat than with bitcoin. Counterfeit? There is no way to counterfeit bitcoin unlike fiat.

I guess he has a point dude, the world is created to have a centralization for the government to monitor and maintain the peace and order in this world. Without peace and order, your money has no value, the economy will collapse and crimes will be rampant. With decentralization, some might manipulate the system and crimes will come, think that when government has no power to control the crime online, it will be a big threat for us

War and peace

Do you really believe in what you say? That the government is there "to monitor and maintain the peace and order in this world"? Do you think that it is not governments (people who rule the government) that start wars? I don't think that ordinary people are looking for a fight with a neighbor country. At max, they can rise and overthrow their own government if the latter makes their life totally unbearable as it happened many times throughout history. But this doesn't go well with the concept of government maintaining "peace and order" (even in their countries, let alone world)

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Quote from: Natalim on February 03, 2017, 10:23:45 PM

Quote from: South Park on February 03, 2017, 05:41:39 PM

Quote from: Theb on February 02, 2017, 01:26:47 PM

Quote from: South Park on February 02, 2017, 01:19:47 PM

Quote from: Grdas130979 on February 01, 2017, 01:55:08 AM

I believe paper money will eventually go away, but not because its a good thing, but rather because goverments will control every aspect of life. It will be very difficult to do anything anonymous, but thats why we need decentralized money, thats why BTC and other alts are so important.

Governments will try that is for sure, but that does not mean they are going to succeed, there are many intelligent people doing their best to counter that tendency with new developments, and encryption seems like the best way to protect your privacy, at least while you are online.

Let us look on a more broader sense. In a country a government runs the progress of their society, what would you think will happen if money in that country is decentralized? Of course the government won't be the only one controlling the country's money but other people can, It can lead into more abuse than you think. Having a money that is controlled by the government is much safer.

What kind of abuses could happen with a decentralized currency that could not happen with a centralized currency? Money laundering? That already happens and it is more widespread with fiat than with bitcoin. Counterfeit? There is no way to counterfeit bitcoin unlike fiat.

I guess he has a point dude, the world is created to have a centralization for the government to monitor and maintain the peace and order in this world. Without peace and order, your money has no value, the economy will collapse and crimes will be rampant. With decentralization, some might manipulate the system and crimes will come, think that when government has no power to control the crime online, it will be a big threat for us.

then why are we speaking about the global worlds. do you not think that if the whole world combine on one point and decide to live in group and finish the border differences, currency differences. we can live like one nation and hope that there will be more peace harmony and love for each other, but i think it is not such an easy job.

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Quote from: South Park on February 03, 2017, 05:41:39 PM

Quote from: Theb on February 02, 2017, 01:26:47 PM

Quote from: South Park on February 02, 2017, 01:19:47 PM

Quote from: Grdas130979 on February 01, 2017, 01:55:08 AM

I believe paper money will eventually go away, but not because its a good thing, but rather because goverments will control every aspect of life. It will be very difficult to do anything anonymous, but thats why we need decentralized money, thats why BTC and other alts are so important.

Governments will try that is for sure, but that does not mean they are going to succeed, there are many intelligent people doing their best to counter that tendency with new developments, and encryption seems like the best way to protect your privacy, at least while you are online.

Let us look on a more broader sense. In a country a government runs the progress of their society, what would you think will happen if money in that country is decentralized? Of course the government won't be the only one controlling the country's money but other people can, It can lead into more abuse than you think. Having a money that is controlled by the government is much safer.

What kind of abuses could happen with a decentralized currency that could not happen with a centralized currency? Money laundering? That already happens and it is more widespread with fiat than with bitcoin. Counterfeit? There is no way to counterfeit bitcoin unlike fiat.

I guess he has a point dude, the world is created to have a centralization for the government to monitor and maintain the peace and order in this world. Without peace and order, your money has no value, the economy will collapse and crimes will be rampant. With decentralization, some might manipulate the system and crimes will come, think that when government has no power to control the crime online, it will be a big threat for us.

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Life is a game, you either play it or get played.

Since BTC or other digital currencies require people to be in communities or become tech savvy to figure out, entirety remains with its reliance on exchanging to and from fist. The need to be in every country may be unattractive if so few countries become dependent.

Don't ignore using it, but paper is universal and tied to infrastructure across the globe. People use USD, AUD, GBP + Euro as reserve currencies in 76+ countries so making exclusive amendments locally will likely turn to changes in what's stockpiled.

People will always use paper as a secure solution for expensive savings + leisure trade.

South Park

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Quote from: Theb on February 02, 2017, 01:26:47 PM

Quote from: South Park on February 02, 2017, 01:19:47 PM

Quote from: Grdas130979 on February 01, 2017, 01:55:08 AM

I believe paper money will eventually go away, but not because its a good thing, but rather because goverments will control every aspect of life. It will be very difficult to do anything anonymous, but thats why we need decentralized money, thats why BTC and other alts are so important.

Governments will try that is for sure, but that does not mean they are going to succeed, there are many intelligent people doing their best to counter that tendency with new developments, and encryption seems like the best way to protect your privacy, at least while you are online.

Let us look on a more broader sense. In a country a government runs the progress of their society, what would you think will happen if money in that country is decentralized? Of course the government won't be the only one controlling the country's money but other people can, It can lead into more abuse than you think. Having a money that is controlled by the government is much safer.

What kind of abuses could happen with a decentralized currency that could not happen with a centralized currency? Money laundering? That already happens and it is more widespread with fiat than with bitcoin. Counterfeit? There is no way to counterfeit bitcoin unlike fiat.

rchstr

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Quote from: Bitcoinsummoner on February 02, 2017, 02:34:21 PM

Quote from: bitllionaire on February 02, 2017, 09:55:40 AM

Quote from: President79 on February 02, 2017, 05:25:47 AM

According to prediction, the paper money in 50 years will disappear. can't argue with that paper money a lot of weaknesses, such as fake money crimes, money laundering and illegal transactions. With digital money then a person or community is suspected of committing crimes will be easily frozen.

i think we cannot give any time frame for disappearing the fiat currency, no one know about it that what will happen to fiat in 50 years or more. but if we conclude it thin it is even looking difficult that either after 50 years bitcoin will disappear. to me i think will still survive bur the use of bitcoin will increase more and people will then giving more preference to digital currency.

its obvious that more people will use bitcoin we are growing and i think new comers will think about bitcoin to be a paper money..
Fiat is almost used by each country that its impossible to replace by bitcoin government not letting them to use as local currency since bitcoin is anonymous and people if they are scam they can not direct who are the scammers. since almost everything in bitcoin is anonymous.. no id no real information.. you can hide in bitcoin.

but i think fiat will not diminished as it will be the last sort of payment for the near future. bitcoin can be the main payment for our daily needs. from shopping or paying our bills, for gas and for other things that we may use payment. bitcoin can handle those things as it is very easy to use. and for the technology this day. it might happen soon.

Topic: The future of the paper money - page 145. (Read 416566 times)