Topic: The future of the paper money - page 15. (Read 416565 times)
We never know what will happen in the future...to paper money if in the case that the government adapt the system of bitcoin they will have some adjustment to make then its still a long process and paper money will be no value then and everything is by virtual currency which is everyone will be using it.. but I think it will not totally be abolish there's still paper money for the sake of those people who are belong to third world country...
Many brands and corporations have greater GDPs, more assets and a higher headcount than some small countries -- so perhaps it makes sense for them to print their own money. Graphic and motion designer Jade Dalloul has gone one step further, by imagining what these company-currencies might look like.
In future, we are not using polyethene covers why because of those are very harmful to environment. That's why the paper market is gradually increasing than compare with others. And Paper is very eco-friendly.
For now l think, paper money will never be banned. It is the most accurate and the legal tender to represent the economy or financial status of a government. Digital coins are good but because it is privately run the ups and downs of the coin cannot be accurately predicted and will be a problem. Thus its hard to let virtual currencies represent real money for now because of the changing market and then the changing values.
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.
I do agree that paper money will stay at least for another few decades. However, I don't see why governments won't be interested in incorporating bitcoin (or other cryptocurrencies, maybe even issue their own?) Virtual currencies seems like an inevitable future, and perhaps it would be an incentive for governments to incorporate cryptocurrencies if there is a potential of taxing on the transaction of them, like what most governments are already doing with the transaction of stocks.
The presence of bitcoin and digital currency is believed to be a threat to paper money, the country is currently trying to make a connected system that can control the owner of money and it can only be done with digital money.
I think even without bitcoin paper money would get less and less. I think I'm gonna miss it though. I think there will still be some paper money for decades though, some countries will get rid of it earlier than others.
I bet some people will also make collections out of them and they will still get some value.
I bet some people will also make collections out of them and they will still get some value.
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.
This is true , in my own country our government were not into implementing Bitcoin to the people cause the blame may occur to their side if the profit may be lesser than what it should be, they say that Bitcoin dumps rapidly and the initial state of your money will be different in just a matter of seconds , change is inevitable, as well as the profit that you put in risk, so probably cash will still be functional because of this kind of situation.
I think that paper money wouldn't be needed in the future or it would be decreased ,
I think that in the future we would be able to pay for every thing online .
But I don't really think that we wouldn't be using paper money in the future I still think that even if we could pay every thing online we would still use the paper money sometimes .
I think that in the future we would be able to pay for every thing online .
But I don't really think that we wouldn't be using paper money in the future I still think that even if we could pay every thing online we would still use the paper money sometimes .
I also think the amount of paper money will be decreased. However, it does not mean that fiat will be never used. In many countries Bitcoin is useless.
Sweden is also talking about replacing all their paper money. They want to be fully electronic in the next few years. The future will be digital money but I can't say what tip.
When the demands of transactions are now more complex then it is difficult to maintain paper money, this has an impact on the decreasing use of paper money directly, especially for large transactions, it is time for the world to change and think ahead in order to use digital money or cryptocurrency.
It is not in our hands it is based on the demand from people which currencies are very comfortable for them if they use online currencies very much the usage of paper currencies will go slow or it will be opposite in future .
Paper money are here to stay for a long time. I do see digital money as a possibility in the future but for now governments would not give up on their paper money just like that.
Paper money has no future in the world. It's persistence it's only a matter of inertia. Cashless society will start in the Western countries and rapidly propagate evertwhere. The obsolete system of credit cars will vanish. Blockchain based systems will spread. The bad news: they'll be in totally control of governments. You thought it would an utopi - it could well end up in a dystopia.
Totally eliminating cash has never happened in any country, to date, probably for these main reasons. physically currency is basic part of many people's daily activity. if and when it is decided to go to a cashless system it will take atleast a generation to transform America's economy.
There are millions of elderly in the population who are not digitally literate, and thus still use cash and standard banking methods. cash make sense for day to day, face to face and mostly small transactions only.the other big transactions are already electronic. can't imagine someone is actually paying for their mortgage down payment in cash.
There are millions of elderly in the population who are not digitally literate, and thus still use cash and standard banking methods. cash make sense for day to day, face to face and mostly small transactions only.the other big transactions are already electronic. can't imagine someone is actually paying for their mortgage down payment in cash.
Paper money is trusted and timetested so they will stay with us for a long time. People should understand that it's very hard to change everthying fast.
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.
This is true, they will never approved to the possibility thatz bitcoin may invade government and give what do people deserve. For now the implementation of Bitcoin to may be challenging, and cash will still exist for the entire century I guess, cause public and private entities who accept Bitcoin as payment were still limited for now.
banknotes will always be used until whenever because of paper money for cash payment, if the paper money is removed then the paper money will become a valuable item because it has been a currency, now aja Kono currency expensive if it is not in effect. but paper money will still be there until whenever it may still require paper currency. bitcoin and other crypto emergency will become very valuable in the future due to relative anonymity and decentralization.
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?
There are several reasons why crypto coins can not replace paper money:
- Long transaction
- The cost is too high for small transactions
- Crypto coins are unstable and risky
- The government certainly will not let the crypto coins take over the paper money
For me paper money will still exist.
I personally don't think paper money will completely disappear any time in the near future. Paper money and metal coins have long been usedas a medium of exchange and a standard of value in almost all societies.Therefore,traditional monetary system has a cultural, historical and social backgroundthat are impossible to change. Internet banking is not always secured.
When the demands of transactions are now more complex then it is difficult to maintain paper money, this has an impact on the decreasing use of paper money directly, especially for large transactions, it is time for the world to change and think ahead in order to use digital money or cryptocurrency.
In general I agree, the use of paper money to encounter many problems such as security, high distribution costs, and the increasing number of counterfeit money, if the country uses digital money then we do not need to hear of robbery in banks, counterfeit money and various other problems. Jump to: