Topic: The future of the paper money - page 180. (Read 416566 times)
Paper money is always going to be needed in the future. Many people still don't even know what a Bitcoin is. In addition, many of the world's economies rely on printing it's own money. What we might see is a state sponsored altcoin to compete with Bitcoin. Banks are not in favor of 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?
t wil be not banned, it will be issued as much as there will be interest. At some point almost none. How long wil take that there will be issued almost none paper money. I would say about 20 years. Maybe more, for sure not less.
paper money will be at the same time here.
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?
Look, it costs a lot of money for the government to print and to take care of the paper money in any country. With their own, state Blockchain's these costs would be decreased a lot. We should expect that the governments and banks both will do this fairly quickly.
The thing that bothers me and that I am pretty sure will happen if these state blockchains come to existence is a level of control that a government can induce while operating one such system. Not just control, but surveillance, limiting how and when you will spend your money, etc..
This is much easier doable with the electronic money than with the cash money and I don't doubt that the governmental stupidity and greed will try to do something like this, which will essentially be the end of these decentralized blockchains altogether.
And how would public and privately issued monies interact?
the future odf the paper money what would it be i dont think that the paper money will disappear becuase i know for sure that lots of people will not let that happemn for srue te paper money will be there for sujre. Paper money will be banned entirely?
How long do you think that happens?
would it work?
What security and privacy risks would it raise?
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?
Look, it costs a lot of money for the government to print and to take care of the paper money in any country. With their own, state Blockchain's these costs would be decreased a lot. We should expect that the governments and banks both will do this fairly quickly.
The thing that bothers me and that I am pretty sure will happen if these state blockchains come to existence is a level of control that a government can induce while operating one such system. Not just control, but surveillance, limiting how and when you will spend your money, etc..
This is much easier doable with the electronic money than with the cash money and I don't doubt that the governmental stupidity and greed will try to do something like this, which will essentially be the end of these decentralized blockchains altogether.
And how would public and privately issued monies interact?
What will the future bringfor the paper moneyu i dont think that the paper money will go away and not replaced by the bitcoin becuase the bitcoin needs
the paper money otherwise he is worthless.
the paper money otherwise he is worthless.
Paper money will stay forever.
Why? Because its easier to make than coins.
Why? Because its easier to make than coins.
they are also easy to counterfeit than bitcoin or electronic payment, i guess they will eventually fade away slowly or reduced for only small business in the future
I think future of paper currency is still long because many people don't even know what crypto currency do, so first we must promote crypto currency.
It's been so many years and yet under 20 million people heard about Bitcoin or used it. However, it'll take way less time for the number to double because of the pyramidal scheme: the more people there are interested in it, the more people will hear about it. Yes, we gotta make Bitcoin heard about but that will take a few more years. However, when it'll become a big thing, governments will do something about it.
There is no bad effects anyway if fiat continue to exists or remain the most used currency in the world. Bitcoin is not made to replace them anyway. Bitcoin is an alternative payment scheme that gets away from using third party. But since the world is going more online, bitcoin will be the future currency to be used. It may not be immediately, but in the future it will be.
Paper money will stay forever.
Why? Because its easier to make than coins.
Why? Because its easier to make than coins.
they are also easy to counterfeit than bitcoin or electronic payment, i guess they will eventually fade away slowly or reduced for only small business in the future
paper money can't be removed in this world until all people have free internet conection, use digital system, and have hardware (smartphone, trezor wallet etc.), because in this world still have place without internet conection, and far from city.
It is right. People need to remember that there are poor countries. In these countries, some people do not even use the Internet. Therefore, they have paper money - the only means of payment. Paper money will be a very long time
They cannot be reached by tehnology that is the problem or they dont want to.
Tribes dont like that idea. They want to live by their traditions and just keep living just like that.
I do think it is healthuer that any country with a high technology.
But for us, if bitcoin want to get global then that will be just for those rich countriea.
There is still much to tackle before it can happen. Paper money will be here for a long time.
I agree with you, internet may be out due to disasters or any calamities. As Electricity goes out so is internet and bitcoin transactions. I will say that bitcoin should not replace fiat but will represent fiat online. The number of your bitcoins online will reflect your paper money deposited on banks etc. Fiat currency is much stable and safer than bitcoin but I love bitcoin and I hope fiat currency and bitcoin will stay.
paper money can't be removed in this world until all people have free internet conection, use digital system, and have hardware (smartphone, trezor wallet etc.), because in this world still have place without internet conection, and far from city.
It is right. People need to remember that there are poor countries. In these countries, some people do not even use the Internet. Therefore, they have paper money - the only means of payment. Paper money will be a very long time
They cannot be reached by tehnology that is the problem or they dont want to.
Tribes dont like that idea. They want to live by their traditions and just keep living just like that.
I do think it is healthuer that any country with a high technology.
But for us, if bitcoin want to get global then that will be just for those rich countriea.
There is still much to tackle before it can happen. Paper money will be here for a long time.
I agree with you, internet may be out due to disasters or any calamities. As Electricity goes out so is internet and bitcoin transactions. I will say that bitcoin should not replace fiat but will represent fiat online. The number of your bitcoins online will reflect your paper money deposited on banks etc. Fiat currency is much stable and safer than bitcoin but I love bitcoin and I hope fiat currency and bitcoin will stay.
There is no chance that fiat will disappear in future as bitcoin is not yet familiar to everyone and people who don't follow latest technology will always keep on using fiat and in future bitcoin will be the best online currency but it don't have that high potential to replace fiat.
paper money can't be removed in this world until all people have free internet conection, use digital system, and have hardware (smartphone, trezor wallet etc.), because in this world still have place without internet conection, and far from city.
It is right. People need to remember that there are poor countries. In these countries, some people do not even use the Internet. Therefore, they have paper money - the only means of payment. Paper money will be a very long time
They cannot be reached by tehnology that is the problem or they dont want to.
Tribes dont like that idea. They want to live by their traditions and just keep living just like that.
I do think it is healthuer that any country with a high technology.
But for us, if bitcoin want to get global then that will be just for those rich countriea.
There is still much to tackle before it can happen. Paper money will be here for a long time.
I agree with you, internet may be out due to disasters or any calamities. As Electricity goes out so is internet and bitcoin transactions. I will say that bitcoin should not replace fiat but will represent fiat online. The number of your bitcoins online will reflect your paper money deposited on banks etc. Fiat currency is much stable and safer than bitcoin but I love bitcoin and I hope fiat currency and bitcoin will stay.
paper money can't be removed in this world until all people have free internet conection, use digital system, and have hardware (smartphone, trezor wallet etc.), because in this world still have place without internet conection, and far from city.
It is right. People need to remember that there are poor countries. In these countries, some people do not even use the Internet. Therefore, they have paper money - the only means of payment. Paper money will be a very long time
They cannot be reached by tehnology that is the problem or they dont want to.
Tribes dont like that idea. They want to live by their traditions and just keep living just like that.
I do think it is healthuer that any country with a high technology.
But for us, if bitcoin want to get global then that will be just for those rich countriea.
There is still much to tackle before it can happen. Paper money will be here for a long time.
paper money can't be removed in this world until all people have free internet conection, use digital system, and have hardware (smartphone, trezor wallet etc.), because in this world still have place without internet conection, and far from city.
So true, as we can easily jump to bitcoin suddenly. It takes time to do this, that is to eliminate the paper money. Infrastructure must be ready,hardware, and the demand. As of now,the bitcoin penetration is so slow but we are moving as more business are coming out to support bitcoin.
I don't think that this is going to happen in the future that we are going to easily shift into bitcoins. Even though this is going to be a good way to make bitcoins price increase.
But as long as the government will not implement this usage, the future of paper money is still great and still be used by all people.
Government wont really let this thing to happen though even how much bitcoin would progress in the future. Fiat would still remain strong and would be commonly used by most people all over the world because they only knew about fiat and if they heared about bitcoin they would still use fiat after all.
to make transaction, we don't need to replace it and change the fact that most people will still use paper money even btc will grow in the near future.
paper money can't be removed in this world until all people have free internet conection, use digital system, and have hardware (smartphone, trezor wallet etc.), because in this world still have place without internet conection, and far from city.
So true, as we can easily jump to bitcoin suddenly. It takes time to do this, that is to eliminate the paper money. Infrastructure must be ready,hardware, and the demand. As of now,the bitcoin penetration is so slow but we are moving as more business are coming out to support bitcoin.
I don't think that this is going to happen in the future that we are going to easily shift into bitcoins. Even though this is going to be a good way to make bitcoins price increase.
But as long as the government will not implement this usage, the future of paper money is still great and still be used by all people.
Government wont really let this thing to happen though even how much bitcoin would progress in the future. Fiat would still remain strong and would be commonly used by most people all over the world because they only knew about fiat and if they heared about bitcoin they would still use fiat after all.
paper money can't be removed in this world until all people have free internet conection, use digital system, and have hardware (smartphone, trezor wallet etc.), because in this world still have place without internet conection, and far from city.
So true, as we can easily jump to bitcoin suddenly. It takes time to do this, that is to eliminate the paper money. Infrastructure must be ready,hardware, and the demand. As of now,the bitcoin penetration is so slow but we are moving as more business are coming out to support bitcoin.
I don't think that this is going to happen in the future that we are going to easily shift into bitcoins. Even though this is going to be a good way to make bitcoins price increase.
But as long as the government will not implement this usage, the future of paper money is still great and still be used by all people.
paper money can't be removed in this world until all people have free internet conection, use digital system, and have hardware (smartphone, trezor wallet etc.), because in this world still have place without internet conection, and far from city.
It is right. People need to remember that there are poor countries. In these countries, some people do not even use the Internet. Therefore, they have paper money - the only means of payment. Paper money will be a very long time
They cannot be reached by tehnology that is the problem or they dont want to.
Tribes dont like that idea. They want to live by their traditions and just keep living just like that.
I do think it is healthuer that any country with a high technology.
But for us, if bitcoin want to get global then that will be just for those rich countriea.
There is still much to tackle before it can happen. Paper money will be here for a long time.
paper money can't be removed in this world until all people have free internet conection, use digital system, and have hardware (smartphone, trezor wallet etc.), because in this world still have place without internet conection, and far from city.
So true, as we can easily jump to bitcoin suddenly. It takes time to do this, that is to eliminate the paper money. Infrastructure must be ready,hardware, and the demand. As of now,the bitcoin penetration is so slow but we are moving as more business are coming out to support bitcoin.
paper money can't be removed in this world until all people have free internet conection, use digital system, and have hardware (smartphone, trezor wallet etc.), because in this world still have place without internet conection, and far from city.
It is right. People need to remember that there are poor countries. In these countries, some people do not even use the Internet. Therefore, they have paper money - the only means of payment. Paper money will be a very long time
paper money can't be removed in this world until all people have free internet conection, use digital system, and have hardware (smartphone, trezor wallet etc.), because in this world still have place without internet conection, and far from city.
Paper money will not be completely banned. What will happen is the legalization of the digital money thus giving options to the people either to transact through the paper one or digital based. Digital currency and to be specific, bitcoins when accepted by a majority of countries as a official currency will mean that banks will have no option but cope up with the trend. As much as there are people who value digital money, there are those who will still be glued to paper money and thus it can not be scrapped away.
That should not be said in the first place, why would the government ban paper money when they created it for the people to used it. And if you take a look on the different culture and lifestyle of the people in this earth, you will be convince that only portion are using digital currency and even the users of digital currency are also comfortable of using paper money.
Paper money will not be completely banned. What will happen is the legalization of the digital money thus giving options to the people either to transact through the paper one or digital based. Digital currency and to be specific, bitcoins when accepted by a majority of countries as a official currency will mean that banks will have no option but cope up with the trend. As much as there are people who value digital money, there are those who will still be glued to paper money and thus it can not be scrapped away.
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