The future of the paper money - page 170.

carlerha

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Quote from: CyberKuro on November 18, 2016, 06:48:58 PM

Quote from: Positid on November 17, 2016, 11:20:15 PM

Quote from: deisik on November 17, 2016, 04:19:45 PM

Quote from: Xester on November 17, 2016, 08:15:51 AM

Quote from: ?? on ??

the existence of paper money in the future will begin to decline and be replaced by digital money Roll Eyes

. payment transactions with a card, atm card and shopping. and also because paper money is less efficient if in large quantities. but it's still in the long term because of the profit they make money medium digital / electronic novelty of this period. Shocked

I beg to disagree.. the paper money will not ever replace even digital currencies. Its that’s not a concept most people can get their heads around, which has been Bitcoin’s great limitation. It might overcome that hurdle, or it might not. The only certainty is that money will keep evolving. If money represents value, and value is a reflection of our needs and desires, then money is simply a reflection of us. And it will continue to change as long as we do.

While I don't particularly disagree with your point that Bitcoin might never replace paper money (since that seems to be what you meant to say, it was hard to decipher your message), I can't possibly agree that the technicalities of Bitcoin could hinder its adoption. They can be very well hidden by the wrappers which web wallets already use. In fact, just to fill a typical bank payment order you need to spend substantially more time and effort than to make a Bitcoin payment. Even if you use a bank payment card, you still need to enter a lot of auxiliary data (such as card holder's name, expiry date, security code, maybe, something else that I don't know of) while in order to make a Bitcoin payment you need only to enter the receiving wallet address and the amount to transfer. I mean if you use a web wallet, of course...

In this way, I don't really think that the technicalities are a real obstacle

For me, it's the trust issue.. Banks are centralized and people especially the depositors are comfortable with their money as they know it's secured while in bitcoin it's not safe because it's decentralize and when the entire system is down our money will be lost. Simple as that why people continue to use paper money as it's government regulated.

Bitcoin has advantages in transaction than paper money and vice versa.
Digital currency is a future payment method but I think paper money will be still exist as long as digital currency can be hacked.
Security issue is what hinder digital currency to replace paper money, we still need a form of money (medium of exchange) to do transaction just in case.
We need both of them to store them securely, I mean when your digital currency hacked at least you still have paper money on banks or safes-box.

yes that is right to say bitcoin is easy to transfer it do not need to transfer in to local currency if you are buying some thing in another country as bitcoin is a universal currency and it has the same price every where in the world.

CyberKuro

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Quote from: Positid on November 17, 2016, 11:20:15 PM

Quote from: deisik on November 17, 2016, 04:19:45 PM

Quote from: Xester on November 17, 2016, 08:15:51 AM

Quote from: ?? on ??

the existence of paper money in the future will begin to decline and be replaced by digital money Roll Eyes

. payment transactions with a card, atm card and shopping. and also because paper money is less efficient if in large quantities. but it's still in the long term because of the profit they make money medium digital / electronic novelty of this period. Shocked

I beg to disagree.. the paper money will not ever replace even digital currencies. Its that’s not a concept most people can get their heads around, which has been Bitcoin’s great limitation. It might overcome that hurdle, or it might not. The only certainty is that money will keep evolving. If money represents value, and value is a reflection of our needs and desires, then money is simply a reflection of us. And it will continue to change as long as we do.

While I don't particularly disagree with your point that Bitcoin might never replace paper money (since that seems to be what you meant to say, it was hard to decipher your message), I can't possibly agree that the technicalities of Bitcoin could hinder its adoption. They can be very well hidden by the wrappers which web wallets already use. In fact, just to fill a typical bank payment order you need to spend substantially more time and effort than to make a Bitcoin payment. Even if you use a bank payment card, you still need to enter a lot of auxiliary data (such as card holder's name, expiry date, security code, maybe, something else that I don't know of) while in order to make a Bitcoin payment you need only to enter the receiving wallet address and the amount to transfer. I mean if you use a web wallet, of course...

In this way, I don't really think that the technicalities are a real obstacle

For me, it's the trust issue.. Banks are centralized and people especially the depositors are comfortable with their money as they know it's secured while in bitcoin it's not safe because it's decentralize and when the entire system is down our money will be lost. Simple as that why people continue to use paper money as it's government regulated.

Bitcoin has advantages in transaction than paper money and vice versa.
Digital currency is a future payment method but I think paper money will be still exist as long as digital currency can be hacked.
Security issue is what hinder digital currency to replace paper money, we still need a form of money (medium of exchange) to do transaction just in case.
We need both of them to store them securely, I mean when your digital currency hacked at least you still have paper money on banks or safes-box.

socks435

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Quote from: zombie007 on November 18, 2016, 01:39:55 PM

Quote from: Sithara007 on November 18, 2016, 06:23:46 AM

Quote from: Positid on November 17, 2016, 11:20:15 PM

For me, it's the trust issue.. Banks are centralized and people especially the depositors are comfortable with their money as they know it's secured while in bitcoin it's not safe because it's decentralize and when the entire system is down our money will be lost. Simple as that why people continue to use paper money as it's government regulated.

How can you claim that the money deposited in the banks is safe just because the system is centralized? What will happen if the bank declares itself bankrupt? Or what will happen if the government seize your savings?

government do not have any right to seize your saving without any solid reason. as we can see that when a band become bankrupt then the government try to recover the lost of the people and there are very little chances of that banks will become bankrupt therefore keeping money in banks is really not so much risky.

Why banks will bankrupt i think its not. banks are controlled by government and money made by banks that controlled by government..
Banks is still the best place to save a large amount of our money, because its more safe than bitcoin..

zombie007

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Quote from: Sithara007 on November 18, 2016, 06:23:46 AM

Quote from: Positid on November 17, 2016, 11:20:15 PM

For me, it's the trust issue.. Banks are centralized and people especially the depositors are comfortable with their money as they know it's secured while in bitcoin it's not safe because it's decentralize and when the entire system is down our money will be lost. Simple as that why people continue to use paper money as it's government regulated.

How can you claim that the money deposited in the banks is safe just because the system is centralized? What will happen if the bank declares itself bankrupt? Or what will happen if the government seize your savings?

government do not have any right to seize your saving without any solid reason. as we can see that when a band become bankrupt then the government try to recover the lost of the people and there are very little chances of that banks will become bankrupt therefore keeping money in banks is really not so much risky.

saiha

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Quote from: Sithara007 on November 18, 2016, 06:23:46 AM

Quote from: Positid on November 17, 2016, 11:20:15 PM

For me, it's the trust issue.. Banks are centralized and people especially the depositors are comfortable with their money as they know it's secured while in bitcoin it's not safe because it's decentralize and when the entire system is down our money will be lost. Simple as that why people continue to use paper money as it's government regulated.

How can you claim that the money deposited in the banks is safe just because the system is centralized? What will happen if the bank declares itself bankrupt? Or what will happen if the government seize your savings?

For each country banks are covered by the law which will help the customers,investors of that bankrupted bank.

That is what you call an insurance. So even the bank will be bankrupt still there is an alloted money for those people who the bank owed money.

So you don't have to worry about it, you just need to browse the banking secrecy law and everything about it.

Sithara007

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Quote from: Positid on November 17, 2016, 11:20:15 PM

For me, it's the trust issue.. Banks are centralized and people especially the depositors are comfortable with their money as they know it's secured while in bitcoin it's not safe because it's decentralize and when the entire system is down our money will be lost. Simple as that why people continue to use paper money as it's government regulated.

How can you claim that the money deposited in the banks is safe just because the system is centralized? What will happen if the bank declares itself bankrupt? Or what will happen if the government seize your savings?

sportis

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Veni, Vidi, Vici

Some enthusiasts say that cryptocurrencies will bring the end of paper money. But many people especially older ones they don't feel that they have real money if they cannot hold it in their hands. Furthermore many of them feel depressed if they have not a national currency and for transactions into the same country for many people paper money is the only way.

On the other side cryptocurrencies like as bitcoins gives their users speed, flexibility, transparency, security, very low fees and freedom compared to conventional money. The only sure thing, in near future, is that the rapid development of bitcoin will change the way financial credit institutions serve and behave to their customers.

Positid

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Quote from: deisik on November 17, 2016, 04:19:45 PM

Quote from: Xester on November 17, 2016, 08:15:51 AM

Quote from: ?? on ??

the existence of paper money in the future will begin to decline and be replaced by digital money Roll Eyes

. payment transactions with a card, atm card and shopping. and also because paper money is less efficient if in large quantities. but it's still in the long term because of the profit they make money medium digital / electronic novelty of this period. Shocked

I beg to disagree.. the paper money will not ever replace even digital currencies. Its that’s not a concept most people can get their heads around, which has been Bitcoin’s great limitation. It might overcome that hurdle, or it might not. The only certainty is that money will keep evolving. If money represents value, and value is a reflection of our needs and desires, then money is simply a reflection of us. And it will continue to change as long as we do.

While I don't particularly disagree with your point that Bitcoin might never replace paper money (since that seems to be what you meant to say, it was hard to decipher your message), I can't possibly agree that the technicalities of Bitcoin could hinder its adoption. They can be very well hidden by the wrappers which web wallets already use. In fact, just to fill a typical bank payment order you need to spend substantially more time and effort than to make a Bitcoin payment. Even if you use a bank payment card, you still need to enter a lot of auxiliary data (such as card holder's name, expiry date, security code, maybe, something else that I don't know of) while in order to make a Bitcoin payment you need only to enter the receiving wallet address and the amount to transfer. I mean if you use a web wallet, of course...

In this way, I don't really think that the technicalities are a real obstacle

For me, it's the trust issue.. Banks are centralized and people especially the depositors are comfortable with their money as they know it's secured while in bitcoin it's not safe because it's decentralize and when the entire system is down our money will be lost. Simple as that why people continue to use paper money as it's government regulated.

deisik

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Quote from: Xester on November 17, 2016, 08:15:51 AM

Quote from: ?? on ??

the existence of paper money in the future will begin to decline and be replaced by digital money Roll Eyes

. payment transactions with a card, atm card and shopping. and also because paper money is less efficient if in large quantities. but it's still in the long term because of the profit they make money medium digital / electronic novelty of this period. Shocked

I beg to disagree.. the paper money will not ever replace even digital currencies. Its that’s not a concept most people can get their heads around, which has been Bitcoin’s great limitation. It might overcome that hurdle, or it might not. The only certainty is that money will keep evolving. If money represents value, and value is a reflection of our needs and desires, then money is simply a reflection of us. And it will continue to change as long as we do.

While I don't particularly disagree with your point that Bitcoin might never replace paper money (since that seems to be what you meant to say, it was hard to decipher your message), I can't possibly agree that the technicalities of Bitcoin could hinder its adoption. They can be very well hidden by the wrappers which web wallets already use. In fact, just to fill a typical bank payment order you need to spend substantially more time and effort than to make a Bitcoin payment. Even if you use a bank payment card, you still need to enter a lot of auxiliary data (such as card holder's name, expiry date, security code, maybe, something else that I don't know of) while in order to make a Bitcoin payment you need only to enter the receiving wallet address and the amount to transfer. I mean if you use a web wallet, of course...

In this way, I don't really think that the technicalities are a real obstacle

arseaboy

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Quote from: mastica on November 17, 2016, 09:03:42 AM

Quote from: Xester on November 17, 2016, 08:15:51 AM

Quote from: ?? on ??

the existence of paper money in the future will begin to decline and be replaced by digital money Roll Eyes

. payment transactions with a card, atm card and shopping. and also because paper money is less efficient if in large quantities. but it's still in the long term because of the profit they make money medium digital / electronic novelty of this period. Shocked

I beg to disagree.. the paper money will not ever replace even digital currencies. Its that’s not a concept most people can get their heads around, which has been Bitcoin’s great limitation. It might overcome that hurdle, or it might not. The only certainty is that money will keep evolving. If money represents value, and value is a reflection of our needs and desires, then money is simply a reflection of us. And it will continue to change as long as we do.

I really disagree with you as well the people does use their phones for almost everything, such fact made banks provide already several services that we can do from home with a phone, soo you believe the printed system will keep being the way of currencie, it will upgrade into digital world, when i dont know but it should happen, maybe another way to have something in hands.

It may be possible that physical money may not be available but considering those people who are located outside the metro which doesn't have a good knowledge in internet technology.. if those people will be educated and give a proper introduction about bitcoins well it's possible but it may take years or decades before it happen.

mastica

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Quote from: Xester on November 17, 2016, 08:15:51 AM

Quote from: ?? on ??

the existence of paper money in the future will begin to decline and be replaced by digital money Roll Eyes

. payment transactions with a card, atm card and shopping. and also because paper money is less efficient if in large quantities. but it's still in the long term because of the profit they make money medium digital / electronic novelty of this period. Shocked

I beg to disagree.. the paper money will not ever replace even digital currencies. Its that’s not a concept most people can get their heads around, which has been Bitcoin’s great limitation. It might overcome that hurdle, or it might not. The only certainty is that money will keep evolving. If money represents value, and value is a reflection of our needs and desires, then money is simply a reflection of us. And it will continue to change as long as we do.

I really disagree with you as well the people does use their phones for almost everything, such fact made banks provide already several services that we can do from home with a phone, soo you believe the printed system will keep being the way of currencie, it will upgrade into digital world, when i dont know but it should happen, maybe another way to have something in hands.

Xester

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Quote from: ?? on ??

the existence of paper money in the future will begin to decline and be replaced by digital money Roll Eyes

. payment transactions with a card, atm card and shopping. and also because paper money is less efficient if in large quantities. but it's still in the long term because of the profit they make money medium digital / electronic novelty of this period. Shocked

I beg to disagree.. the paper money will not ever replace even digital currencies. Its that’s not a concept most people can get their heads around, which has been Bitcoin’s great limitation. It might overcome that hurdle, or it might not. The only certainty is that money will keep evolving. If money represents value, and value is a reflection of our needs and desires, then money is simply a reflection of us. And it will continue to change as long as we do.

mirakal

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Quote from: delliaerd on November 17, 2016, 01:37:45 AM

Quote from: ?? on ??

the existence of paper money in the future will begin to decline and be replaced by digital money Roll Eyes

. payment transactions with a card, atm card and shopping. and also because paper money is less efficient if in large quantities. but it's still in the long term because of the profit they make money medium digital / electronic novelty of this period. Shocked

Also media have possitive contribution to bitcoin, becouse they can attracts people attention. The price and value of bitcoin is designed to increase everytime with bitcoin trasaction volume that more and more increase everyday. Limited bitcoin supply and amount of new bitcoin which created in system is decrease every 10 minute. Bitcoin designed to get deflation. Supply of bitcoin is decrease every 4 years, we call it halvings. There are 12,5 btc that appear in each block every 10 minute and it is continuing to decrease. People in yunani, cyprus, venezuela and other are getting saturated to use paper money. A lot of country in the world is starting to addopt digital payment system. The value of global reserve currency is decrease, but bitcoin value is increase.

You are right because bitcoin is news driven, media can help but only for there positive publication. There are also media that states the negative things about bitcoin so now it only depends to a certain adopter to balance things out and make a deep research of who is telling the truth.

delliaerd

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Quote from: ?? on ??

the existence of paper money in the future will begin to decline and be replaced by digital money Roll Eyes

. payment transactions with a card, atm card and shopping. and also because paper money is less efficient if in large quantities. but it's still in the long term because of the profit they make money medium digital / electronic novelty of this period. Shocked

Also media have possitive contribution to bitcoin, becouse they can attracts people attention. The price and value of bitcoin is designed to increase everytime with bitcoin trasaction volume that more and more increase everyday. Limited bitcoin supply and amount of new bitcoin which created in system is decrease every 10 minute. Bitcoin designed to get deflation. Supply of bitcoin is decrease every 4 years, we call it halvings. There are 12,5 btc that appear in each block every 10 minute and it is continuing to decrease. People in yunani, cyprus, venezuela and other are getting saturated to use paper money. A lot of country in the world is starting to addopt digital payment system. The value of global reserve currency is decrease, but bitcoin value is increase.

Fatanut

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Quote from: Sithara007 on November 14, 2016, 08:55:31 AM

Carrying paper money around is quite irritating, as well as risky. I believe that in the near future, paper currency will be completely replaced with mobile payment options. This mobile payment option can be Bitcoin, or some other currency.

That's why you don't see millionaires carrying a million dollars in their wallet. I bet you won't be irritated when you just carry small amount of money (e.g. 100$) in your wallet. And for the very same reason, that's why people put their money in a bank or in a vault. If you do live in a first world country, they just swipe your credit card in the credit card reader that they put in their smartphones. Maybe that would solve your problem about being irritated carrying paper money.

deisik

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Quote from: Sithara007 on November 14, 2016, 08:55:31 AM

Carrying paper money around is quite irritating, as well as risky. I believe that in the near future, paper currency will be completely replaced with mobile payment options. This mobile payment option can be Bitcoin, or some other currency.

You could just use a payment card like those of Visa or MasterCard. If you set your daily payment limits wisely and enable other security measures (like SMS notifications and confirmations), then you are pretty much safe with it, even if your card gets stolen or you simply forget it somewhere. In cases like these you can lose only the card but not the money in your bank account which is linked to your card...

Using payment cards can be profitable since you might get sizable cashbacks on purchases made with them

zikel

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Quote from: Sithara007 on November 14, 2016, 08:55:31 AM

Carrying paper money around is quite irritating, as well as risky. I believe that in the near future, paper currency will be completely replaced with mobile payment options. This mobile payment option can be Bitcoin, or some other currency.

I do not believe it. Paper money used by people for a long time. It's like a fetish, a moral necessity. Therefore, the paper money does not come out of Appliances

Achargeturry78

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Just follow the rules

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.

i agree with you buddy. because they cant put tax in bitcoin. that's why they aren't interested in joining in bitcoin. btc is rapidly growing right now because many people investing in bitcoin because they believed like me that bitcoin is the future for digital currency but paper money still the same because they cant lose fiat system am i right ? with out paper money theres no circulation of economy because btc is not implemented much even my workmates dont know about btc.

Sithara007

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Carrying paper money around is quite irritating, as well as risky. I believe that in the near future, paper currency will be completely replaced with mobile payment options. This mobile payment option can be Bitcoin, or some other currency.

madwica

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Quote from: Text on November 14, 2016, 07:28:15 AM

Paper money is very useful indeed. I think it would still exist in the future for offline transaction purposes, it will not be abandoned because it is easy to use as payment for daily expenses. On the other side bitcoin will be more popular and nothing is impossible for a better progress of it like having digital money.

Agree with you mate that paper money will exist forever even the digital currency would be more popular in the future because not all people can access it specially for the poor people and they will prefer to have paper money than having digital currency.

Topic: The future of the paper money - page 170. (Read 416598 times)