The future of the paper money - page 153.

loreykyutt05

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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?

wahb

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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.

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Quote from: MMA on January 21, 2017, 03:22:47 AM

Quote from: South Park on January 20, 2017, 05:50:21 PM

Quote from: President79 on January 20, 2017, 09:57:02 AM

I think the paper money in 20 years will be destroyed and replaced with digital money. The main issue is that the government should fully control the money supply. Now in my country, more than 40℅ people save money under the pillow, after their digital money would eliminate such manner.

Governments already control the money supply, after all they are the ones printing it, they want to monitor every single transaction made, according to them they want to do this for the public safety but it is nothing but a lie, they want full control of you and your money.

very honestly governments are responsible for providing basic needs, security and shelter to their to their citizen, therefor they must have full control over all the activities of their citizens, and may that is the main reason that they are not accepting bitcoin as legal currency, but i am still hopeful that still they will find out some good solution for that problem and will accept bitcoin without effect the original status of bitcoin.

Disagree, governments must have some degree of control over their citizens that is true but to have full control over the activities of their citizens as you suggest? Of course not, why the governments of the world need to know if you like football better than baseball? Theres is not a reason for that but that is what they are doing.

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Quote from: emezh10 on January 22, 2017, 05:30:41 AM

I think no I preferred using fiat money ir paper money for may daily lives because if you will replace paper money with bitcoins how will vendors work? How will beggar can obtaine money from begging? So it is beyond impossible to replace paper money with bitcoins although I preferred bitcoin in online transaction but in over all I will go fir paper money because it something you can keep.

It's not impossible if time will come that bitcoin will replace paper money, but that time then, the beggars are more advance. lol..

But seriously, are you really that concern about the beggars that it's one of the factors you considered as hindrance why paper money should not be replace? Actually, my prediction is it will not happen that bitcoin will replace paper money, however, we do not foreseen nor hold the future, anything can happen and that include the possibilities on the aforementioned.

emezh10

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I think no I preferred using fiat money ir paper money for may daily lives because if you will replace paper money with bitcoins how will vendors work? How will beggar can obtaine money from begging? So it is beyond impossible to replace paper money with bitcoins although I preferred bitcoin in online transaction but in over all I will go fir paper money because it something you can keep.

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Quote from: jaysabi on January 21, 2017, 01:29:39 PM

Quote from: Hammerschmidt on January 17, 2017, 02:02:22 PM

Paper money is only limited by earth's supply of trees

At least digital currency is "backed" by the mining's ever-soaring level of difficulty. This built-in scarcity model prevents deflation of bitcoin value, raises the miners' bar for return on investment, and thereby guarantees a steady climb in price. Each transaction buyer wants to hold for a later price rise, and so on down the line. Not every trader can outwait their own need for their own fiat currency, so naturally there are trades at a loss. Whoever has the most patience and greatest wealth can end up with a large hoard of bitcoins.

Mining difficulty in no way backs the value of bitcoin. Mining difficulty is only a result of how many computers are solving the algo that mints coins. Whether bitcoin was worth $1000 or $1, it wouldn't directly affect the difficulty of the mining.

The built-in scarcity does not give it a floor value. If that was true, any altcoin with fewer than 21 million possible coins would have a price point higher than bitcoin. What gives bitcoin value is the collective belief by people holding it or seeking to buy it that it will continue to have value. It's just a confidence game.

Well in mining there is more chance of running out coins to be mines than trees running out first. Also if Trees are the problem there is a lot of ways now creating a new fiat currency and that is the use of Fibers from fruits and other materials. Also the government does not need to develop new prints of money because it creates an imbalance in the economy. Remember they control the flow of currency in the country.

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Quote from: Hammerschmidt on January 17, 2017, 02:02:22 PM

Paper money is only limited by earth's supply of trees

At least digital currency is "backed" by the mining's ever-soaring level of difficulty. This built-in scarcity model prevents deflation of bitcoin value, raises the miners' bar for return on investment, and thereby guarantees a steady climb in price. Each transaction buyer wants to hold for a later price rise, and so on down the line. Not every trader can outwait their own need for their own fiat currency, so naturally there are trades at a loss. Whoever has the most patience and greatest wealth can end up with a large hoard of bitcoins.

Mining difficulty in no way backs the value of bitcoin. Mining difficulty is only a result of how many computers are solving the algo that mints coins. Whether bitcoin was worth $1000 or $1, it wouldn't directly affect the difficulty of the mining.

The built-in scarcity does not give it a floor value. If that was true, any altcoin with fewer than 21 million possible coins would have a price point higher than bitcoin. What gives bitcoin value is the collective belief by people holding it or seeking to buy it that it will continue to have value. It's just a confidence game.

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Quote from: gabmen on January 21, 2017, 01:22:50 PM

Quote from: rchstr on January 21, 2017, 12:19:57 PM

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.

this day, paper money is being used by the majority of the world. but we cant say that crypto currencies cant be implemented on the near future. some countries still dont know what are those cryto coins. maybe if those coins are introduced and had a seminars about implementing it. maybe crypto coins can be used as the main money of all the country.

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Quote from: rchstr on January 21, 2017, 12:19:57 PM

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.

rchstr

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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.

markyminer

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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.

no doubt about this that the future of paper money is still safe. actually bitcoin is not yet adopt by majority of people, actually most of the people still do not proper knowledge about bitcoin while in some places where people have even knowledge about bitcoin but they do not have internet access, therefore they also cannot use bitcoin, and therefore they are still depending on fiat, actually in most of the areas the bitcoin facilities to be use as currency is not available everywhere.

onrise

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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.

jeraldskie11

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The government officials is the only one handle a digital currency because the money is start from them. They cannot control a crypto-currencies cause it only found in the network like research paper it usually called bitcoin but if they did not consider it to use in our country because they can't control they choose to banned it.
For there is no problem about bitcoin in our country so since there is no issue about bitcoin in our country, I will used it.

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Quote from: South Park on January 20, 2017, 05:50:21 PM

Quote from: President79 on January 20, 2017, 09:57:02 AM

I think the paper money in 20 years will be destroyed and replaced with digital money. The main issue is that the government should fully control the money supply. Now in my country, more than 40℅ people save money under the pillow, after their digital money would eliminate such manner.

Governments already control the money supply, after all they are the ones printing it, they want to monitor every single transaction made, according to them they want to do this for the public safety but it is nothing but a lie, they want full control of you and your money.

very honestly governments are responsible for providing basic needs, security and shelter to their to their citizen, therefor they must have full control over all the activities of their citizens, and may that is the main reason that they are not accepting bitcoin as legal currency, but i am still hopeful that still they will find out some good solution for that problem and will accept bitcoin without effect the original status of bitcoin.

millgates

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Quote from: President79 on January 20, 2017, 09:57:02 AM

I think the paper money in 20 years will be destroyed and replaced with digital money. The main issue is that the government should fully control the money supply. Now in my country, more than 40℅ people save money under the pillow, after their digital money would eliminate such manner.

Agree, I do not think that people still fine to use paper money. When all people in the world choose digital money as the one currency in the world, government can not do anything. Fiat usage will be decrease.

rchstr

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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.

but its a good solution for preserving the nature, we all know that everyday national banks all over the world produces money. then everyday hundreds or thounsands of tree's are uses just to make our fiat. now if we make our money digital there would be a big factor that our nature will be preserve and taken care of.

South Park

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Quote from: President79 on January 20, 2017, 09:57:02 AM

I think the paper money in 20 years will be destroyed and replaced with digital money. The main issue is that the government should fully control the money supply. Now in my country, more than 40℅ people save money under the pillow, after their digital money would eliminate such manner.

Governments already control the money supply, after all they are the ones printing it, they want to monitor every single transaction made, according to them they want to do this for the public safety but it is nothing but a lie, they want full control of you and your money.

hurain

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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.

President79

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I think the paper money in 20 years will be destroyed and replaced with digital money. The main issue is that the government should fully control the money supply. Now in my country, more than 40℅ people save money under the pillow, after their digital money would eliminate such manner.

noel2123

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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
[/quote

With the help of our new technologies and the invent of the virtual money, I think the future of the paper money will be obsolete or will not lasts when a bitcoin or any kind of virtual money will be invented. Once a local government implemented a rule or law to make bitcoins or any virtual money, the future of paper money will be a history only

Topic: The future of the paper money - page 153. (Read 416603 times)