The future of the paper money - page 162.

virasog

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Quote from: Mastsetad on December 28, 2016, 12:35:35 PM

Quote from: avikz on December 28, 2016, 11:15:02 AM

The future of paper money seems brighter tan ever. I see no threat to the future of paper money. Obviously most of the government is trying to introduce cashless transaction and promotion digital awareness, but that doesn't mean that paper money will be worthless.

The economy size of the country will be determined by the money available in the country physically and not electronically. So paper money will never be worthless even after 20 years.

20 years is a really small period of time, we should think about higher then that, and for sure there are chances of digital money taking over paper money in future, because every thing has to be updated once after it gets too old and now the technology has reached to the sky and i'm sure this revolution will take place too.

Paper money will be there for a long time because we haven't found a way to make internet connectivity and electricity to be available
in every part of the world. There are millions of people who are not connected to internet and are not aware of it. For them, paper currency
is the only option.

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Quote from: danherbias07 on December 30, 2016, 01:52:49 AM

Quote from: agamasrori on December 29, 2016, 11:41:53 PM

When the government print more paper money, its value is automaticaly decrease. Its not good for us becouse goevernment can print it anytime they want. I am sure that people will leave paper money soon.

No. They cant print just anytime they want. There are things that are needed to be passed in order to do it. There is just always a number of money that can be printed. It goes deep and need more understanding about finance to know about this.

The government can print its own currency if they sees the need to do it, they have all the authority to do it, hence it makes the paper money subject for inflation as the supply is not limited although the demand increases. Bitcoin has a big difference with paper money since it's online and the supply is pretty limited and no inflation at all, some consider paper money as investment but we all consider bitcoin as an investment.

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Quote from: agamasrori on December 29, 2016, 11:41:53 PM

When the government print more paper money, its value is automaticaly decrease. Its not good for us becouse goevernment can print it anytime they want. I am sure that people will leave paper money soon.

No. They cant print just anytime they want. There are things that are needed to be passed in order to do it. There is just always a number of money that can be printed. It goes deep and need more understanding about finance to know about this.

agamasrori

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When the government print more paper money, its value is automaticaly decrease. Its not good for us becouse goevernment can print it anytime they want. I am sure that people will leave paper money soon.

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Quote from: carlerha on December 29, 2016, 05:37:29 PM

Quote from: mrcash02 on December 29, 2016, 11:38:53 AM

Quote from: sportis on December 29, 2016, 11:13:38 AM

Quote from: darkangel11 on December 28, 2016, 05:35:29 PM

People like to keep money in their wallets. If you are from the older generation you should know the difference between handing someone a bill and a plastic card. Money is still treated differently. You can wave your card in public all you want and noone will notice, but start waving some Franklins and all eyes are on you. I'm sure I'll be long dead before the world stops using paper money.

It is quite sure that in the nearby future will live in a cashless world. Governments they impose laws initially τo restrict and then to completely ban the circulation of paper money. From my point of view next years people will do their transactions mainly with cards and mobile or web banking. Small value notes will be in circulation so as older people learn the new payment system. I suppose that next or after next generation people will use only digital coins in every day transactions.

I believe it will only happen in a very far far away future. In the present days, the technology already advanced a lot and reached to many places, but there are still a lot of people living without the information, technology and progress. Until these people left the paper money to start using only virtual transactions, will take a lot of time. Things are advancing, but there are a lot of time yet until we reach to a cashless society.

yes that is a fact that in most areas still people do not hear the name of bitcoin, while in some area still there are not present the facilities of internet therefore these people do not know about bitcoin, they still require a good time to know and then start using bitcoin.

We have to understand that awareness will take a lot of process, we have to wait for the right time without stopping our support with bitcoin. The progress will continue and at the right time, people will know and understand about bitcoin and hopefully they can adopt as well.

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Quote from: Mastsetad on December 29, 2016, 01:12:52 PM

Quote from: sportis on December 29, 2016, 11:13:38 AM

Quote from: darkangel11 on December 28, 2016, 05:35:29 PM

People like to keep money in their wallets. If you are from the older generation you should know the difference between handing someone a bill and a plastic card. Money is still treated differently. You can wave your card in public all you want and noone will notice, but start waving some Franklins and all eyes are on you. I'm sure I'll be long dead before the world stops using paper money.

It is quite sure that in the nearby future will live in a cashless world. Governments they impose laws initially τo restrict and then to completely ban the circulation of paper money. From my point of view next years people will do their transactions mainly with cards and mobile or web banking. Small value notes will be in circulation so as older people learn the new payment system. I suppose that next or after next generation people will use only digital coins in every day transactions.

Obviously, the governments will have to do that in coming time when the world will be almost totally digitalized and then they will have no choice but to turn their faces towards digital payment systems and when that happens paper money system will get vanished for once and for all.

The decentralized world that is coming is going to change life as everybody knows it, we may not be around long enough to see the full effects in action but once governments see that they are no longer in control of key assets then they will start to impose laws that take away even more of our personal freedoms all in the name of a safer world.

It has already started, they can track just about everything you do via your cell phone now and in a cashless society they will be able to keep track of everything you spend your money on.
Give me some freedom, give me bitcoin.

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Quote from: mrcash02 on December 29, 2016, 11:38:53 AM

Quote from: sportis on December 29, 2016, 11:13:38 AM

Quote from: darkangel11 on December 28, 2016, 05:35:29 PM

People like to keep money in their wallets. If you are from the older generation you should know the difference between handing someone a bill and a plastic card. Money is still treated differently. You can wave your card in public all you want and noone will notice, but start waving some Franklins and all eyes are on you. I'm sure I'll be long dead before the world stops using paper money.

It is quite sure that in the nearby future will live in a cashless world. Governments they impose laws initially τo restrict and then to completely ban the circulation of paper money. From my point of view next years people will do their transactions mainly with cards and mobile or web banking. Small value notes will be in circulation so as older people learn the new payment system. I suppose that next or after next generation people will use only digital coins in every day transactions.

I believe it will only happen in a very far far away future. In the present days, the technology already advanced a lot and reached to many places, but there are still a lot of people living without the information, technology and progress. Until these people left the paper money to start using only virtual transactions, will take a lot of time. Things are advancing, but there are a lot of time yet until we reach to a cashless society.

yes that is a fact that in most areas still people do not hear the name of bitcoin, while in some area still there are not present the facilities of internet therefore these people do not know about bitcoin, they still require a good time to know and then start using bitcoin.

Mastsetad

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Quote from: sportis on December 29, 2016, 11:13:38 AM

Quote from: darkangel11 on December 28, 2016, 05:35:29 PM

People like to keep money in their wallets. If you are from the older generation you should know the difference between handing someone a bill and a plastic card. Money is still treated differently. You can wave your card in public all you want and noone will notice, but start waving some Franklins and all eyes are on you. I'm sure I'll be long dead before the world stops using paper money.

It is quite sure that in the nearby future will live in a cashless world. Governments they impose laws initially τo restrict and then to completely ban the circulation of paper money. From my point of view next years people will do their transactions mainly with cards and mobile or web banking. Small value notes will be in circulation so as older people learn the new payment system. I suppose that next or after next generation people will use only digital coins in every day transactions.

Obviously, the governments will have to do that in coming time when the world will be almost totally digitalized and then they will have no choice but to turn their faces towards digital payment systems and when that happens paper money system will get vanished for once and for all.

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Quote from: mrcash02 on December 29, 2016, 11:38:53 AM

Quote from: sportis on December 29, 2016, 11:13:38 AM

Quote from: darkangel11 on December 28, 2016, 05:35:29 PM

People like to keep money in their wallets. If you are from the older generation you should know the difference between handing someone a bill and a plastic card. Money is still treated differently. You can wave your card in public all you want and noone will notice, but start waving some Franklins and all eyes are on you. I'm sure I'll be long dead before the world stops using paper money.

It is quite sure that in the nearby future will live in a cashless world. Governments they impose laws initially τo restrict and then to completely ban the circulation of paper money. From my point of view next years people will do their transactions mainly with cards and mobile or web banking. Small value notes will be in circulation so as older people learn the new payment system. I suppose that next or after next generation people will use only digital coins in every day transactions.

I believe it will only happen in a very far far away future. In the present days, the technology already advanced a lot and reached to many places, but there are still a lot of people living without the information, technology and progress. Until these people left the paper money to start using only virtual transactions, will take a lot of time. Things are advancing, but there are a lot of time yet until we reach to a cashless society.

I don't think it will lot of time because the process has already started to make cash less economy. Day by day online banking transaction are increasing and mobile wallet transactions too. The problem is coming in cash less economy that is lac of knowledge and banking transaction fees. The banking transaction fees is 1st reason that stops people doing cash less transaction. For example If I fill up petrol in my bike using mobile wallet than there will be some charge for doing this transaction while cash transaction has no charges.

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Quote from: sportis on December 29, 2016, 11:13:38 AM

Quote from: darkangel11 on December 28, 2016, 05:35:29 PM

People like to keep money in their wallets. If you are from the older generation you should know the difference between handing someone a bill and a plastic card. Money is still treated differently. You can wave your card in public all you want and noone will notice, but start waving some Franklins and all eyes are on you. I'm sure I'll be long dead before the world stops using paper money.

It is quite sure that in the nearby future will live in a cashless world. Governments they impose laws initially τo restrict and then to completely ban the circulation of paper money. From my point of view next years people will do their transactions mainly with cards and mobile or web banking. Small value notes will be in circulation so as older people learn the new payment system. I suppose that next or after next generation people will use only digital coins in every day transactions.

I believe it will only happen in a very far far away future. In the present days, the technology already advanced a lot and reached to many places, but there are still a lot of people living without the information, technology and progress. Until these people left the paper money to start using only virtual transactions, will take a lot of time. Things are advancing, but there are a lot of time yet until we reach to a cashless society.

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Quote from: darkangel11 on December 28, 2016, 05:35:29 PM

People like to keep money in their wallets. If you are from the older generation you should know the difference between handing someone a bill and a plastic card. Money is still treated differently. You can wave your card in public all you want and noone will notice, but start waving some Franklins and all eyes are on you. I'm sure I'll be long dead before the world stops using paper money.

It is quite sure that in the nearby future will live in a cashless world. Governments they impose laws initially τo restrict and then to completely ban the circulation of paper money. From my point of view next years people will do their transactions mainly with cards and mobile or web banking. Small value notes will be in circulation so as older people learn the new payment system. I suppose that next or after next generation people will use only digital coins in every day transactions.

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Quote from: crockoo on December 29, 2016, 06:29:58 AM

Quote from: mikecgna on December 28, 2016, 06:36:34 PM

The banking system can move completely to digital version of the provision of services to clients. With the crisis of cards the whole problem will be solved. But I think that in the total destruction or a ban on the use of paper money, the banks do not go as well as their country.

the banking system will never go on cryptocurrency. The reason for this is that the banking system is controlled by the government. And it does not want to accept Bitcoin

Many countries have already accepted Bitcoin

So it all basically comes down to how they are going to categorize Bitcoin. If Bitcoin is legally accepted as a commodity, banks obviously would not be able to use it as a financial asset. On the other hand, if Bitcoin is considered as a foreign currency, and the same laws will be applicable to it just like to any other such currency, I see no legal reason why Bitcoin can't be used by banks. The government doesn't control any foreign currency after all, but this doesn't prevent banks from using these currencies, for example, to open deposit accounts in such a currency

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Quote from: mikecgna on December 28, 2016, 06:36:34 PM

The banking system can move completely to digital version of the provision of services to clients. With the crisis of cards the whole problem will be solved. But I think that in the total destruction or a ban on the use of paper money, the banks do not go as well as their country.

the banking system will never go on cryptocurrency. The reason for this is that the banking system is controlled by the government. And it does not want to accept Bitcoin

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Quote from: d-trixx on December 28, 2016, 06:57:22 PM

Quote from: Yuuto on December 28, 2016, 06:23:02 PM

Quote from: darkangel11 on December 28, 2016, 05:35:29 PM

People like to keep money in their wallets. If you are from the older generation you should know the difference between handing someone a bill and a plastic card. Money is still treated differently. You can wave your card in public all you want and noone will notice, but start waving some Franklins and all eyes are on you. I'm sure I'll be long dead before the world stops using paper money.

There are some quite prestigious cards out there, even ones with diamonds engraved on it. So no, i think your point is flawed. Being able to "show-off" with your cash isn't a valid point to make about why paper currency is better.

Also cash can attract thiefs and bandits especially if you carry it around in your wallet in a place that you are not familiar with. With bitcoin your coins are secure in cold storage and nobody can steal it off you without the private key.

If criminals or scammers want to or are intended to take my money, they did not stop. I do not think that a barrier for them if the money just in your pocket or in my electronic purse. Each specializes in its bandit methods of extraction of other people's money.

It is indeed true and I see that the thieves have a lot of purses so it will drain a lot of time for us to be able to track and make calculations to him. And most of the thieves doing the action to those who only have a bad security. It all happened because everyone will certainly find a loophole that can be obtained, however I am sure that the online wallet that much better than the wallet in the other. Because in the online wallet we get double protection where we get protection from the providers and our own protection

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Quote from: Yuuto on December 28, 2016, 06:23:02 PM

Quote from: darkangel11 on December 28, 2016, 05:35:29 PM

People like to keep money in their wallets. If you are from the older generation you should know the difference between handing someone a bill and a plastic card. Money is still treated differently. You can wave your card in public all you want and noone will notice, but start waving some Franklins and all eyes are on you. I'm sure I'll be long dead before the world stops using paper money.

There are some quite prestigious cards out there, even ones with diamonds engraved on it. So no, i think your point is flawed. Being able to "show-off" with your cash isn't a valid point to make about why paper currency is better.

Also cash can attract thiefs and bandits especially if you carry it around in your wallet in a place that you are not familiar with. With bitcoin your coins are secure in cold storage and nobody can steal it off you without the private key.

If criminals or scammers want to or are intended to take my money, they did not stop. I do not think that a barrier for them if the money just in your pocket or in my electronic purse. Each specializes in its bandit methods of extraction of other people's money.

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The banking system can move completely to digital version of the provision of services to clients. With the crisis of cards the whole problem will be solved. But I think that in the total destruction or a ban on the use of paper money, the banks do not go as well as their country.

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Quote from: darkangel11 on December 28, 2016, 05:35:29 PM

People like to keep money in their wallets. If you are from the older generation you should know the difference between handing someone a bill and a plastic card. Money is still treated differently. You can wave your card in public all you want and noone will notice, but start waving some Franklins and all eyes are on you. I'm sure I'll be long dead before the world stops using paper money.

There are some quite prestigious cards out there, even ones with diamonds engraved on it. So no, i think your point is flawed. Being able to "show-off" with your cash isn't a valid point to make about why paper currency is better.

Also cash can attract thiefs and bandits especially if you carry it around in your wallet in a place that you are not familiar with. With bitcoin your coins are secure in cold storage and nobody can steal it off you without the private key.

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Paper money will go into the past just as fast, which will introduce new technology in the world at every step that it was available to the general public.

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Quote from: darkangel11 on December 28, 2016, 05:35:29 PM

People like to keep money in their wallets. If you are from the older generation you should know the difference between handing someone a bill and a plastic card. Money is still treated differently. You can wave your card in public all you want and noone will notice, but start waving some Franklins and all eyes are on you. I'm sure I'll be long dead before the world stops using paper money.

I understand that people like are calculated in the shops and services of digital money. For this is the future. But how do the people of glubinok, which sometimes do not even have internet. Yes Yes. That there are still within the scope of the world. For a long time.

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People like to keep money in their wallets. If you are from the older generation you should know the difference between handing someone a bill and a plastic card. Money is still treated differently. You can wave your card in public all you want and noone will notice, but start waving some Franklins and all eyes are on you. I'm sure I'll be long dead before the world stops using paper money.

Topic: The future of the paper money - page 162. (Read 416566 times)