Topic: The future of the paper money - page 171. (Read 416606 times)
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.
We are very far from the time where people will accept the digital currency and will abolish paper money. That is, when people started use paper money didn't stop to hold their gold coins.
We would know when the time comes, even though we are in the digital world paper money will still be use by a lot of people of course. It's simple and easy to use and we cannot deny that, it would maybe be bitcoin will be gone first but paper money will never lose it's popularity. 
We are very far from the time where people will accept the digital currency and will abolish paper money. That is, when people started use paper money didn't stop to hold their gold coins.
If bitcoin gets on the mainstream then paper money will loose its popularity and users too, as if bitcoin gets widely used and accepted then people will prefer to use bitcoin more in compare to paper money as it will give them freedom of going for shopping cashless and things will become more easier.
Paper money will always exist, even if it costs more than the value of the paper money they produce, and bitcoin can never change that or make it disappear.., Just imagine the limit of bitcoin that will be produced, it won't suffice to supply the whole population, even if it goes mainstream, it won't change anything about paper money...
If bitcoin gets on the mainstream then paper money will loose its popularity and users too, as if bitcoin gets widely used and accepted then people will prefer to use bitcoin more in compare to paper money as it will give them freedom of going for shopping cashless and things will become more easier.
Paper money will always exist, even if it costs more than the value of the paper money they produce, and bitcoin can never change that or make it disappear.., Just imagine the limit of bitcoin that will be produced, it won't suffice to supply the whole population, even if it goes mainstream, it won't change anything about paper money...
If bitcoin gets on the mainstream then paper money will loose its popularity and users too, as if bitcoin gets widely used and accepted then people will prefer to use bitcoin more in compare to paper money as it will give them freedom of going for shopping cashless and things will become more easier.
Storage, production and the material itself is very expensive for the production of paper money. And if the popular will cryptocurrency, then paper money will be bid farewell ,.Till paper money has support from the Government I don't think it will face any issue and we cannot expect that each and every person will start using bitcoins in future and bitcoin will always be treated as an secondary currency to paper money, and fiat will keep on enjoying its monopoly even in future.
If bitcoin gets on the mainstream then paper money will loose its popularity and users too, as if bitcoin gets widely used and accepted then people will prefer to use bitcoin more in compare to paper money as it will give them freedom of going for shopping cashless and things will become more easier.
Storage, production and the material itself is very expensive for the production of paper money. And if the popular will cryptocurrency, then paper money will be bid farewell ,.Till paper money has support from the Government I don't think it will face any issue and we cannot expect that each and every person will start using bitcoins in future and bitcoin will always be treated as an secondary currency to paper money, and fiat will keep on enjoying its monopoly even in future.
If bitcoin gets on the mainstream then paper money will loose its popularity and users too, as if bitcoin gets widely used and accepted then people will prefer to use bitcoin more in compare to paper money as it will give them freedom of going for shopping cashless and things will become more easier.
Storage, production and the material itself is very expensive for the production of paper money. And if the popular will cryptocurrency, then paper money will be bid farewell ,. 
If bitcoin gets on the mainstream then paper money will loose its popularity and users too, as if bitcoin gets widely used and accepted then people will prefer to use bitcoin more in compare to paper money as it will give them freedom of going for shopping cashless and things will become more easier.
Maybe better to earn and increase bitcoin, so use it as a commodity, and the use of paper money and more. It may even have a positive impact on the general public opinion on bitcoin.
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?
paper money, real fiat money until next 10 year
cant't replace, nothing is digital curency replace position paper money fiat money
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?
paper money, real fiat money until next 10 year
cant't replace, nothing is digital curency replace position paper money fiat money
I think paper money there will exist be at least 50 years, and they will gradually be replaced with electronic money.
Maybe in rich countries because you can't do it in the poor ones.
People talk a lot about bitcoin be anonymous but sometimes they forget that paper money is anonymous too
and fast, that's why we will see cash for a long time.In poor and grown country life moves in a similar way, but the usage access differ based upon the requirement of the people residing in localities. Possibly even after very huge adoption paper money still paper money gets used around every part of the world without any difference in the country's growth.
Bitcoin will be more popular in future and many more people will start using it but their primary choice would be paper money and will keep bitcoin as an secondary option but if we find many places to spend bitcoins directly then the popularity of paper money would be decreased but it won't disappear for sure.
Major issue is that many people don't know how to use it or how to earn it so in that case we cannot expect that they will start using bitcoins and even if they are aware its hard to believe that many of them will start using bitcoins and would prefer to use what is easy for them.
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?
paper money, real fiat money until next 10 year
cant't replace, nothing is digital curency replace position paper money fiat money
I think paper money there will exist be at least 50 years, and they will gradually be replaced with electronic money.
Maybe in rich countries because you can't do it in the poor ones.
People talk a lot about bitcoin be anonymous but sometimes they forget that paper money is anonymous too
and fast, that's why we will see cash for a long time.In poor and grown country life moves in a similar way, but the usage access differ based upon the requirement of the people residing in localities. Possibly even after very huge adoption paper money still paper money gets used around every part of the world without any difference in the country's growth.
Bitcoin will be more popular in future and many more people will start using it but their primary choice would be paper money and will keep bitcoin as an secondary option but if we find many places to spend bitcoins directly then the popularity of paper money would be decreased but it won't disappear for sure.
I think paper money there will exist be at least 50 years, and they will gradually be replaced with electronic money.
Maybe in rich countries because you can't do it in the poor ones.
People talk a lot about bitcoin be anonymous but sometimes they forget that paper money is anonymous too
and fast, that's why we will see cash for a long time.In poor and grown country life moves in a similar way, but the usage access differ based upon the requirement of the people residing in localities. Possibly even after very huge adoption paper money still paper money gets used around every part of the world without any difference in the country's growth.
Bitcoin will be more popular in future and many more people will start using it but their primary choice would be paper money and will keep bitcoin as an secondary option but if we find many places to spend bitcoins directly then the popularity of paper money would be decreased but it won't disappear for sure.
Despite the fact that there are projections, if mankind abandons the usual paper money during detyati years and switch to digital, I think you need to do more to take into account the fact that probably more than half the people are not ready and not even heard of bitcoin. Therefore, all will be very difficult.
I think paper money there will exist be at least 50 years, and they will gradually be replaced with electronic money.
Maybe in rich countries because you can't do it in the poor ones.
People talk a lot about bitcoin be anonymous but sometimes they forget that paper money is anonymous too
and fast, that's why we will see cash for a long time.In poor and grown country life moves in a similar way, but the usage access differ based upon the requirement of the people residing in localities. Possibly even after very huge adoption paper money still paper money gets used around every part of the world without any difference in the country's growth.
I think paper money there will exist be at least 50 years, and they will gradually be replaced with electronic money.
Probably not within 50 years. Let us remember gold was replaced by paper money only after about 4,000 years of use. Paper money has only been in use for around 200 years. So probably we'll see paper money until we die.
I think paper money there will exist be at least 50 years, and they will gradually be replaced with electronic money.
Maybe in rich countries because you can't do it in the poor ones.
People talk a lot about bitcoin be anonymous but sometimes they forget that paper money is anonymous too
and fast, that's why we will see cash for a long time.In poor and grown country life moves in a similar way, but the usage access differ based upon the requirement of the people residing in localities. Possibly even after very huge adoption paper money still paper money gets used around every part of the world without any difference in the country's growth.
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