The future of the paper money - page 152.

South Park

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Quote from: Pitchblackroom on May 30, 2016, 04:38:59 PM

We will end up going towards a cashless society, but this will take a while. To be honest, in Dubai it pretty much is a cashless society there.
I think for America it will have to take more time since there is so much paper currency and it will take a while for it to be adopted.

we can end up goind towards a cashless society, but still it would take time to wait for that time. but still cashless society that runs by the crypto would be better as it saves the nature and it is more easy to carry and to use. bitcoin will always be a good thing for todays time, because this time technology is now going boundless. meaning we can do or invent something useful that can help our nature to regenarate. bitcoin can help nature by minimizing the printings of fiats that uses papers.

Well there's that possibility already and you're right, in dubai, they've mostly gone cashless already but to implement that to majority of the world's population, it may take decades or more. Paper money has been in use for such a long time already that for now, it would be unthinkable for aot of people to veer away from using it.

To move to a cashless society will take more than that since there are billions of people living with just a few dollars per day so I don't think it is realistic these persons to use anything other than cash for their transactions in the future.

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The future of paper money is not at all at risk as there are many countries who are still dependent only on fiat and have no idea about the digital payment system and in that scenario paper money will also be in demand as in poor countries the workers gets daily daily wages in fiat and we cannot expect them to use bitcoins or any other digital payment system.

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Quote from: zuyfg888 on January 23, 2017, 10:04:22 PM

Quote from: Hammerschmidt on January 23, 2017, 09:35:56 PM

Although by "paper" you probably refer to "what the paper represents" and not the actual paper itself...recall the United States destroys tons of paper bills every year because it physically gets worn out. In fact, didn't Canada experiment with a new, thin, plastic dollar? I remember seeing that on TV one night.

No matter what medium backs up the currency of a nation, it will always symbolize the "atom" of that nation's "unit of work," and therefore will probably always be with us.

We need some paper money yet, but in the future, our technology and innovation can invent a virtual money. Just like you are saying, for this day, our money is paper, and what if in the future, our money becomes virtual money, or cannot be seen through our own eyes. I think it can be invented after a few years, we all just need to be on the right track of using it.

It's always nice to have something "in hand." A system that is entirely based on virtual transactions runs the risk of total collapse in the event a loss of centralized data, or if there's chaos once the system is restored and people disagree with the new accounting.

Still, it's hard to argue against bitcoin. It has made tremendous progress due to its wide range acceptance.

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Quote from: BTCdoaA on January 23, 2017, 03:16:34 AM

I think in the coming two decades paper money will be vanished and will be replaced by the new form of payments , now in first world like euro zone,USA and Russia many prefer not to use the paper money , so only grand mothers\fathers believe else than that . i hope Bitcoin and other alts will play a basic role in the future regard to this .

You said everything what I thought. Old people are using paper money and mostly now everyone prefers to use visa/mastercard and mostly cards for payment, we can say that bitcoin can to strengthen it's position in payments system. To my mind paper money only will be in some poor countries because it needs time to make good economics in such countries but future of paper money will end mostly in Europe, Asia and America, it needs small time, not more than 50 year.

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Quote from: wearepoor on September 21, 2015, 10:20:45 AM

I think paper money have its own importance and will never dead. Though people are started using debit cards, credit cards and other digital currencies; there are some transaction which needs to be deal in traditional cash only. Paper money will be always the main mode of payment for day to day transactions.

Paper money is often counterfeited. Sorry, I disagree about your statement. Using paper money for traditional transaction is not practicaly because it is less effective for small fraction of transaction. I do not think that paper money will be always the main mode of payment because paper money of some countries is being worthless.
Also it is easy to burn or stolen. Need extra security to save big amount of fiat. Paper money isbad for us.

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Quote from: zuyfg888 on January 23, 2017, 10:04:22 PM

Quote from: Hammerschmidt on January 23, 2017, 09:35:56 PM

Although by "paper" you probably refer to "what the paper represents" and not the actual paper itself...recall the United States destroys tons of paper bills every year because it physically gets worn out. In fact, didn't Canada experiment with a new, thin, plastic dollar? I remember seeing that on TV one night.

No matter what medium backs up the currency of a nation, it will always symbolize the "atom" of that nation's "unit of work," and therefore will probably always be with us.

We need some paper money yet, but in the future, our technology and innovation can invent a virtual money. Just like you are saying, for this day, our money is paper, and what if in the future, our money becomes virtual money, or cannot be seen through our own eyes. I think it can be invented after a few years, we all just need to be on the right track of using it.

The world is moving fast, so we should be moving as well. Changes cannot be prevented anymore as innovation will happen, if it's going to be virtual then we must adopt with it and I think bitcoin is now leading and it's a good example for the future innovation of our fiat system.

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Quote from: Hammerschmidt on January 23, 2017, 09:35:56 PM

Although by "paper" you probably refer to "what the paper represents" and not the actual paper itself...recall the United States destroys tons of paper bills every year because it physically gets worn out. In fact, didn't Canada experiment with a new, thin, plastic dollar? I remember seeing that on TV one night.

No matter what medium backs up the currency of a nation, it will always symbolize the "atom" of that nation's "unit of work," and therefore will probably always be with us.

We need some paper money yet, but in the future, our technology and innovation can invent a virtual money. Just like you are saying, for this day, our money is paper, and what if in the future, our money becomes virtual money, or cannot be seen through our own eyes. I think it can be invented after a few years, we all just need to be on the right track of using it.

Hammerschmidt

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Although by "paper" you probably refer to "what the paper represents" and not the actual paper itself...recall the United States destroys tons of paper bills every year because it physically gets worn out. In fact, didn't Canada experiment with a new, thin, plastic dollar? I remember seeing that on TV one night.

No matter what medium backs up the currency of a nation, it will always symbolize the "atom" of that nation's "unit of work," and therefore will probably always be with us.

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Quote from: randy8777 on September 21, 2015, 02:35:14 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.

maybe in the near future when the developers of bitcoin and the governemnt from other nations has an approval that make the bitcoin official to their country then why not? maybe not every other nation will not approved that the bitcoin is now an official for others, but maybe some countries will make it as an official and alternative for paper moneys.

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Quote from: BTCdoaA on January 23, 2017, 03:16:34 AM

I think in the coming two decades paper money will be vanished and will be replaced by the new form of payments , now in first world like euro zone,USA and Russia many prefer not to use the paper money , so only grand mothers\fathers believe else than that . i hope Bitcoin and other alts will play a basic role in the future regard to this .

We've been on the way to becoming a cashless society for a while now. ATM cards are largely replacing your actual currency, and credit cards become like mini-loans to extend the cash you don't have on hand that you weren't using anyway because you have a debit card

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Quote from: Zadicar on January 23, 2017, 03:38:22 AM

Quote from: Mr. Big on January 23, 2017, 03:35:39 AM

Quote from: bitllionaire on January 23, 2017, 03:32:41 AM

Quote from: Mr. Big on January 23, 2017, 02:43:59 AM

Quote from: Tukang Becak on January 23, 2017, 02:30:32 AM

I am very sure, paper money survive no more than 50 years, this is because the Earth has been very badly damaged, thus the use of papers are forbidden, including to make money.

In that case the government could find an alternative, producing paper actually will really reduce due to the use of computer and other gadgets... I am thinking that it is the best solution that they could came up with... but when it comes to fiat,plastic, we have plenty of that in this world and probably it's time that we put them to use when we are out of paper or if we want to preserve the nature...

either we use paper for money only? i think if paper become a problem then we will suffer in other aspects of life. so think paper cannot be a problem for the governments, but i think the only problem can be that people will be giving more preference to online trading and shopping and thus the use of fiat currency will decrease and therefore i think government will be thinking for creating their own online currency for their people.

Probably that's the other thing that could happen, but I really do think that the use of paper money in real life won't decrease a lot and it will be used for many years, though I am thinking that there will be an options each time we bought something like if we want to pay it in cash or in card.. But as I've said, if the production of paper money cannot be stopped, I think the government will come up with an alternative...

It cant really be stopped since its being backed by the government and its existence would still remain and strong no matter what. Bitcoin maybe a trend on future but fiat would still be there the future would be the same.Id government would decide to create their own currency they will surely use another coin and would not tend to use bitcoin since its not controllable.

Sonner or later, the government system will collapse due to many reasons. People love freedom and they do not like being controlled by other people. Therefore, in about 100 years later, we will see a lot of protest, war, chaos, etc about knocking down the centralized system. Bitcoin will become the main currency and people will burn FIAT into ash

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Quote from: Mr. Big on January 23, 2017, 03:35:39 AM

Quote from: bitllionaire on January 23, 2017, 03:32:41 AM

Quote from: Mr. Big on January 23, 2017, 02:43:59 AM

Quote from: Tukang Becak on January 23, 2017, 02:30:32 AM

I am very sure, paper money survive no more than 50 years, this is because the Earth has been very badly damaged, thus the use of papers are forbidden, including to make money.

In that case the government could find an alternative, producing paper actually will really reduce due to the use of computer and other gadgets... I am thinking that it is the best solution that they could came up with... but when it comes to fiat,plastic, we have plenty of that in this world and probably it's time that we put them to use when we are out of paper or if we want to preserve the nature...

either we use paper for money only? i think if paper become a problem then we will suffer in other aspects of life. so think paper cannot be a problem for the governments, but i think the only problem can be that people will be giving more preference to online trading and shopping and thus the use of fiat currency will decrease and therefore i think government will be thinking for creating their own online currency for their people.

Probably that's the other thing that could happen, but I really do think that the use of paper money in real life won't decrease a lot and it will be used for many years, though I am thinking that there will be an options each time we bought something like if we want to pay it in cash or in card.. But as I've said, if the production of paper money cannot be stopped, I think the government will come up with an alternative...

It cant really be stopped since its being backed by the government and its existence would still remain and strong no matter what. Bitcoin maybe a trend on future but fiat would still be there the future would be the same.Id government would decide to create their own currency they will surely use another coin and would not tend to use bitcoin since its not controllable.

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Quote from: bitllionaire on January 23, 2017, 03:32:41 AM

Quote from: Mr. Big on January 23, 2017, 02:43:59 AM

Quote from: Tukang Becak on January 23, 2017, 02:30:32 AM

I am very sure, paper money survive no more than 50 years, this is because the Earth has been very badly damaged, thus the use of papers are forbidden, including to make money.

In that case the government could find an alternative, producing paper actually will really reduce due to the use of computer and other gadgets... I am thinking that it is the best solution that they could came up with... but when it comes to fiat,plastic, we have plenty of that in this world and probably it's time that we put them to use when we are out of paper or if we want to preserve the nature...

either we use paper for money only? i think if paper become a problem then we will suffer in other aspects of life. so think paper cannot be a problem for the governments, but i think the only problem can be that people will be giving more preference to online trading and shopping and thus the use of fiat currency will decrease and therefore i think government will be thinking for creating their own online currency for their people.

Probably that's the other thing that could happen, but I really do think that the use of paper money in real life won't decrease a lot and it will be used for many years, though I am thinking that there will be an options each time we bought something like if we want to pay it in cash or in card.. But as I've said, if the production of paper money cannot be stopped, I think the government will come up with an alternative...

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Quote from: Mr. Big on January 23, 2017, 02:43:59 AM

Quote from: Tukang Becak on January 23, 2017, 02:30:32 AM

I am very sure, paper money survive no more than 50 years, this is because the Earth has been very badly damaged, thus the use of papers are forbidden, including to make money.

In that case the government could find an alternative, producing paper actually will really reduce due to the use of computer and other gadgets... I am thinking that it is the best solution that they could came up with... but when it comes to fiat,plastic, we have plenty of that in this world and probably it's time that we put them to use when we are out of paper or if we want to preserve the nature...

either we use paper for money only? i think if paper become a problem then we will suffer in other aspects of life. so think paper cannot be a problem for the governments, but i think the only problem can be that people will be giving more preference to online trading and shopping and thus the use of fiat currency will decrease and therefore i think government will be thinking for creating their own online currency for their people.

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I think in the coming two decades paper money will be vanished and will be replaced by the new form of payments , now in first world like euro zone,USA and Russia many prefer not to use the paper money , so only grand mothers\fathers believe else than that . i hope Bitcoin and other alts will play a basic role in the future regard to this .

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Quote from: Tukang Becak on January 23, 2017, 02:30:32 AM

I am very sure, paper money survive no more than 50 years, this is because the Earth has been very badly damaged, thus the use of papers are forbidden, including to make money.

interesting thought , but there is a lot of crumbly paper too ,
so it shouldn't be a problem anymore if they want to keep printing the pape money ,
imho applying digital money needed hundred years ,
so i doubt within 50 year paper moneycan be replaced.

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Quote from: Tukang Becak on January 23, 2017, 02:30:32 AM

I am very sure, paper money survive no more than 50 years, this is because the Earth has been very badly damaged, thus the use of papers are forbidden, including to make money.

In that case the government could find an alternative, producing paper actually will really reduce due to the use of computer and other gadgets... I am thinking that it is the best solution that they could came up with... but when it comes to fiat,plastic, we have plenty of that in this world and probably it's time that we put them to use when we are out of paper or if we want to preserve the nature...

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I am very sure, paper money survive no more than 50 years, this is because the Earth has been very badly damaged, thus the use of papers are forbidden, including to make money.

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Quote from: onrise on January 21, 2017, 04:32:37 AM

Paper money is there and will be there though it may be more for a local reasons. While for money transferring if btc and block chain technology if country approves then for money remittance this could be used and has a bright future.

Yes it can be a good use for all of us that wants to use bitcoin for remitting money but still paper money will always remain. It's like that the remittance center will just send the amount that their customer desires to send. Then after sending, their branch to the receiver will just give it to them in terms of paper money.

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Quote from: loreykyutt05 on January 22, 2017, 09:59:50 PM

Quote from: wahb on January 22, 2017, 06:23:52 PM

Quote from: hurain on January 20, 2017, 11:01:43 AM

Quote from: rchstr on January 19, 2017, 04:09:55 AM

The future of the paper money will end i think, the technology is rising we can create money digital or online, we can always inovate anything. Plus using paper money consumes resources like trees and copper or what so ever. Making money as digital will help preserce our nature

i do not think that it is so easy that the future of fiat will come to an end. i think it will continue for long long time. because still there is not any other currency that can compet fiat. although bitcoin is becoming popular from time to time, but it still it will take decades to replace fiat. as still even not 1% people are using bitcoin.

yes that is a fact fiat is not going to an end so easily, because fiat is still the main currency of the people and they are using it primarily while those people who know about bitcoin are still taking it as secondary option. because bitcoin is still not using for shopping everywhere.

It is true when all of us will be going to use bitcoin, we all know that bitcoin will be going to be on impact. We see our primarily money is a paper money. We should all see what will be effects of bitcoin on our paper money?, is this still be on its true value? or it will be going to be one of our negative effect on our own monetary value?

Possibly it will make a negative effect of our fiat money and I don't think it will happen soon or in the future. We are very positive with accepting bitcoin in our daily life activities but that would not mean that we have to let go of fiat system. We have to do some reality check here, aren't we? Almost all of the transactions in the world are depending on fiat to make it successful, so it's hard to sacrifice the current situation.

Topic: The future of the paper money - page 152. (Read 416603 times)