The future of the paper money - page 178.

serjent05

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Quote from: mirakal on October 31, 2016, 07:18:22 AM

We are living in different world and crypto world is a different world and we cannot merge the real world and the crypto world. Try to think of it, in the real world we have the government which make it centralized but in crypto no government at all and we have all the freedom to do with our bitcoin.

Well isn't the cryptoworld created by the people in the real world? Supposedly there is no difference because of the links between the cryptoworld and real world but the government made it hard for bitcoin to be totally used and show bitcoin potential in the real world. Well we can't blame them, they want it all controlled and bitcoin is hard to control.

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Quote from: gabmen on October 31, 2016, 07:04:11 AM

Quote from: Positid on October 31, 2016, 05:06:39 AM

Quote from: Mastsetad on October 31, 2016, 03:11:01 AM

Quote from: dunfida on October 31, 2016, 01:38:09 AM

Its really impossible for paper money would be gone because its being replaced by another crypto currency which is really impossible though. As you mentioned government can produce anytime fiat money if the demand arises because of population inflation.. The future of paper money is still strong and no one could able to replace it anytime soon.

The biggest reason of fiat not being replaced by bitcoin is that paper money is produceable, any government can print any amount of paper anytime they want, and bitcoins has just a limited amount which would probably not be able to fill the gape between these two.

Actually we can also produce paper money of bitcoin, but the big question is would it be illegal or not? Of course it is illegal because the government only produce a legal tender to be use a currency of the people, and even it is unregulated, it is hard to attract the trust of the people.

Well i don't think that is possible though. Bitcoin will most likely stay as crypto and if ever it will be accepted i think it would be more like a credit card use. Considering the challenges bitcoin would be facing, it's likely that the future would still belong to fiat

We are living in different world and crypto world is a different world and we cannot merge the real world and the crypto world. Try to think of it, in the real world we have the government which make it centralized but in crypto no government at all and we have all the freedom to do with our bitcoin.

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Quote from: Positid on October 31, 2016, 05:06:39 AM

Quote from: Mastsetad on October 31, 2016, 03:11:01 AM

Quote from: dunfida on October 31, 2016, 01:38:09 AM

Its really impossible for paper money would be gone because its being replaced by another crypto currency which is really impossible though. As you mentioned government can produce anytime fiat money if the demand arises because of population inflation.. The future of paper money is still strong and no one could able to replace it anytime soon.

The biggest reason of fiat not being replaced by bitcoin is that paper money is produceable, any government can print any amount of paper anytime they want, and bitcoins has just a limited amount which would probably not be able to fill the gape between these two.

Actually we can also produce paper money of bitcoin, but the big question is would it be illegal or not? Of course it is illegal because the government only produce a legal tender to be use a currency of the people, and even it is unregulated, it is hard to attract the trust of the people.

Well i don't think that is possible though. Bitcoin will most likely stay as crypto and if ever it will be accepted i think it would be more like a credit card use. Considering the challenges bitcoin would be facing, it's likely that the future would still belong to fiat

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Quote from: Mastsetad on October 31, 2016, 03:11:01 AM

Quote from: dunfida on October 31, 2016, 01:38:09 AM

Its really impossible for paper money would be gone because its being replaced by another crypto currency which is really impossible though. As you mentioned government can produce anytime fiat money if the demand arises because of population inflation.. The future of paper money is still strong and no one could able to replace it anytime soon.

The biggest reason of fiat not being replaced by bitcoin is that paper money is produceable, any government can print any amount of paper anytime they want, and bitcoins has just a limited amount which would probably not be able to fill the gape between these two.

Actually we can also produce paper money of bitcoin, but the big question is would it be illegal or not? Of course it is illegal because the government only produce a legal tender to be use a currency of the people, and even it is unregulated, it is hard to attract the trust of the people.

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Quote from: dunfida on October 31, 2016, 01:38:09 AM

Its really impossible for paper money would be gone because its being replaced by another crypto currency which is really impossible though. As you mentioned government can produce anytime fiat money if the demand arises because of population inflation.. The future of paper money is still strong and no one could able to replace it anytime soon.

The biggest reason of fiat not being replaced by bitcoin is that paper money is produceable, any government can print any amount of paper anytime they want, and bitcoins has just a limited amount which would probably not be able to fill the gape between these two.

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I believe paper money will disappear over time naturally. In the same time bitcoin can overtook fiat currencies and many people moved over to that.

I agree that there may be paper money began to be abandoned by many people in the world, and probably will dominate the digital money. but I'm not sure bitcoin can replace fiat

We should be optimistic about digital currencies adoption, because many countries started regulating Bitcoin exchanges like Australia and some American states,therefore, digital money is on the right way.

Digital currencies are still developing, and the paper money at the end of its development. But still digital money can not replace paper. Many countries are not ready

Even if many of the poorer countries are not ready some of the most powerful and the ones that move most of the world economy are in fact ready to replace paper money just look a t credit cards.

People can and are ready, and the government - is not. That the government is addressing the issue. In many developed countries have not defined the status cryptocurrency

Nope only a few "chosen" people or users are ready to use cryptocurrency. The main reason is the connectivity issue. More than half of the globe population have no access to internet. Let alone that only a small percentage of internet users are aware of cryptocurrency, You can try to survey that and they will ask you about "What cryptocurrency is" . So in my opinion if the government wanted to replace their currency and use digital currency such is bitcoin, they need to improve and make their country population to have 100% internet access.

The future of paper money will be still the same, it doesn't make since if in the future paper money will vanish, because not all people have an internet access there were people who are living in areas not covered with modern technology specially communication. They were very particular of using the paper money and its very convenience for them compared to those who are having internet online account for their banks. If it happens that papr money will be gone, it should be mandatory for the government to generalize internet access to all areas around the world and then introduce trainings which that would take a long process to follow.

It can't be the same because the population of the world is increasing and that makes the demand of paper money increase also, but no problem with that sine the government can produce money as the need arises. Hence, if people are thinking that paper money will be gone in the circulation with the advent of bitcoin they are totally wrong.

Its really impossible for paper money would be gone because its being replaced by another crypto currency which is really impossible though. As you mentioned government can produce anytime fiat money if the demand arises because of population inflation.. The future of paper money is still strong and no one could able to replace it anytime soon.

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