Topic: The future of the paper money - page 18. (Read 416565 times)
I'm forced to believe that paper money will start to be withdrawn from circulation in the next ten to fifteen years. It is difficult to say how long this process will take, but it is already inevitable
I think we'll have paper money still for a long time, because there are too many technical problem to solve.
Generalized use of bitcoin implies that every one has a pc and a cell phone.
But who knows, may be we'll have an underskin chip...
Generalized use of bitcoin implies that every one has a pc and a cell phone.
But who knows, may be we'll have an underskin chip...
the government still doubts about bitcoin, because the government considers this bitcoin can not be controlled. if the state wants to make regulations that regulate the bitcoin may be possible, but it takes a long time, because it still needs adjustment. for now and so on I think banknotes still in need, but for developed countries maybe 10-20 years.
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?
This is what will happen inavitably. Every company will be having its coins...there will not be fiat currencies related to georgaphy (countries). Instead, there will ctyprocurrencies of the function (utility) with no boarders.
Digital currency will replace paper money. If we are talking about the means to which we use currency, then yes, paper money will be replaced by digital currency. But I do not mean that something like Bitcoins will replace traditional currency. I am speaking of transactions that use something like a debit card or credit card.
completely paper money will not go away, this process is very slow, especially in the underdeveloped countries. in my own way exactly in 100 years)
With technology everything can be fast, now many studies to use digital money, and I think no more than 50 years paper money will disappear, and with bitcoin seems to be faster.
The problem with technology is that it has many single points of failure for everyday use, so not a big deal to keep paper for that. Bitcoin will rule its own kingdom.
The "paper money" is still in very healthy conditions and it seems like it will stay like that for a long time. It is quite resistan for everyday use... no tech, no problems,...
Who knows, money evolved in so different ways in the last 5.000 years that it's difficult to make predictions.
Very likely, some "world government" will put a tattoo with a QRcode on the arm, and we'll pay with it.
It's written in Bible...
"And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads: And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name."
Revelation Chapter 13, 17/18
Very likely, some "world government" will put a tattoo with a QRcode on the arm, and we'll pay with it.
It's written in Bible...
"And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads: And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name."
Revelation Chapter 13, 17/18
Paper money will remain in this world. Especially for those countries who banned cryptocurrency in their place. But i think paper money will not use in the future in countries that start cryptos as mode of payment.
You're right, especially when the poverty still exist in this world, paper money will always be there. It will be hard for third world countries to adopt these kind of changes with the way we pay goods and services. It will take a long time before cryptocurrencies will take over paper money, it is not even in the near future.It will be necessary to provide these countries with the necessary equipment, as well as to spend time for learning people. This will require a lot of time and very high costs. Therefore, I think that paper money will not disappear very soon.
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 I think will gone and government think that paper money are wasting of resources like tree that's why cryptocurrency is the best currency when the paper currency is useless. 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?
That's is only for conducting cash transactions based on the cryptocurrency, you need a very advanced technical base, intuitive even for a person who does not know how to work with modern technologies.
Many people on this forum said that Bitcoin will soon replace paper money in the near future and i think it is difficult to happen because bitcoin is existing many problem which make bitcoin can't wide application in the life, example speed transaction is too slow. Altcoins which overcome the problem of bitcoin in the future but to replace paper money then i think we need more 100 years anymore when society of human is total automatic by machine.
There is a lot of useless discussion about this subject: even if bitcoin will have a general acceptance (and I think this will take a lot of time) there will be a part of population that for different reason will continue to use paper money (in the same way that - even if car exist - lot of people prefer to walk)
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 I think will gone and government think that paper money are wasting of resources like tree that's why cryptocurrency is the best currency when the paper currency is useless. 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 is practically impossible to eradicate paper money will always show is presence in future too, as the market cap of paper money is huge .it will really take a long time before cryptocurrencies fully take over
Well, our world is really fast in technology innovations. Did you ever notice that most of malls and gasoline stations or mostly everywhere in monetary transactions are already using digital transactions by using such electronic cards? then maybe that is where our world will be, a great feasibility exist because of the world is now interconnected and in the next coming generations paper money will slowly abolished and digital transaction will lead the way. 
actually bitcoin is better than physical money, and maybe bitcoin will also really be the money of the future. But besides that there are still many people who do not understand about digital money.
You can't blame them. There are a lot of people who do not really know what bitcoin is and other digital currencies. Some of them are busy to their lives, some of them are not interested in such technology and most of them are not really using such technology in their lives and are just using some like radios and mobile phones which I see most of the time in our place since we are just a province in a third world country.
Paper money is still the main currency in daily payments. Do not worry about that.
It will not be replaced paper money, because from the beginning we have used with paper money and coin money. If one day it will not be completely replaced, because for now where money is everything.
But if time to time with more sophisticated technology alone there could be a change in this case, but I'm sure that possibility is not 100% change.
But if time to time with more sophisticated technology alone there could be a change in this case, but I'm sure that possibility is not 100% change.
Paper money is practically impossible to eradicate paper money will always show is presence in future too, as the market cap of paper money is huge .it will really take a long time before cryptocurrencies fully take over
I am sure that the future of paper money will continue to improve although the use of digital money continues to increase, this is because all transactions can be done with paper money but not all transactions can be done digital money or cryptocurrency, for example is a transaction in the forest or the middle of the sea that no have internet access.
Paper money will remain in this world. Especially for those countries who banned cryptocurrency in their place. But i think paper money will not use in the future in countries that start cryptos as mode of payment.
You're right, especially when the poverty still exist in this world, paper money will always be there. It will be hard for third world countries to adopt these kind of changes with the way we pay goods and services. It will take a long time before cryptocurrencies will take over paper money, it is not even in the near future. Jump to: