The future of the paper money - page 196.

mirakal

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Quote from: Mr. Big on September 15, 2016, 12:39:27 AM

Quote from: socks435 on September 14, 2016, 12:12:24 PM

Quote from: mark coins on September 14, 2016, 12:00:46 PM

Till we keep on selling our bitcoins and keep on converting it to fiat it will be used more, but if we are able to spend bitcoins directly everywhere then it will reduce the usage of fiat in future.

I hope that our country will be the same as brazil that has 150 stores that can accept bitcoin as payment.
And i am sure that it will happen too in the future. if government accept it.

It is unstoppable, most of us here have the purpose to earn extra, and since fiat or paper money is easier to use we are selling it to use and benefit from our earnings here...

Speaking of Brazil, if it is 150 stores, that's big enough, but I think Brazil is a big country and those 150 stores would still be a small percentage of business establishments that are present in that country...

Definitely we are big already, the stores we have seen in brazil is a sign of progress that people are beginning to adopt with bitcoin and the good thing is we are not only progressive in a certain country but we are more progressive in the underworld (black market.).

Mr. Big

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Quote from: socks435 on September 14, 2016, 12:12:24 PM

Quote from: mark coins on September 14, 2016, 12:00:46 PM

Till we keep on selling our bitcoins and keep on converting it to fiat it will be used more, but if we are able to spend bitcoins directly everywhere then it will reduce the usage of fiat in future.

I hope that our country will be the same as brazil that has 150 stores that can accept bitcoin as payment.
And i am sure that it will happen too in the future. if government accept it.

It is unstoppable, most of us here have the purpose to earn extra, and since fiat or paper money is easier to use we are selling it to use and benefit from our earnings here...

Speaking of Brazil, if it is 150 stores, that's big enough, but I think Brazil is a big country and those 150 stores would still be a small percentage of business establishments that are present in that country...

Xenophoto

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I think most transactions will be done digitally in the future. Everything will be recorded and all of those data will be available for public use. If somebody would scam someone, then even when he denies that he did such a thing, people can see the logs of the transactions and can prove the scam that has happened.

We should expect a significant decrease in the use of paper money while having a significant increase in the use of Bitcoin once people embrace the idea of digital trading.

socks435

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Quote from: mark coins on September 14, 2016, 12:00:46 PM

Till we keep on selling our bitcoins and keep on converting it to fiat it will be used more, but if we are able to spend bitcoins directly everywhere then it will reduce the usage of fiat in future.

I hope that our country will be the same as brazil that has 150 stores that can accept bitcoin as payment.
And i am sure that it will happen too in the future. if government accept it.

mark coins

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Till we keep on selling our bitcoins and keep on converting it to fiat it will be used more, but if we are able to spend bitcoins directly everywhere then it will reduce the usage of fiat in future.

subhiii

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because digital currency is decentralized, the government can get their hands controlling it which makes them quite useless while paper money are easy to track, totally backed by the government so they can do what they want with it: printing, holding, tracking,... If the government decides to incorporate with digital currency, there will be nothing good as they will try to alter it and control it. Furthermore, they still don't really love bitcoin so why the hell do they want to create one and use it? So paper money are still going to be the trend for a while

leakingnoseee

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I think that paper money will still be used in future but not as often as now

eddyubachs

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Quote from: danherbias07 on September 14, 2016, 10:31:18 AM

Quote from: martinacar on September 14, 2016, 10:23:50 AM

Quote from: Huobi-USD on September 21, 2015, 02:23:32 AM

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 is going to keep existing for just a couple years but eventually everything is going to be digital I am sure of that.
But when it is going to happen I do not know that answer of that.

A couple is just two. That would be faster than I expected. I dont think it will come true in my opinion. It will be there and will be the basis of how valuable a bitcoin is. Without it how would you say the price of bitcoin is?
Something like 1btc is equal to 2 grams of gold? It is going to be hard with that.

Yeah and if everything gets digital in future we cannot ignore the fact that there will be many people who will prefer to use fiat as certain people will hesitate in using something that is totally new to them.

danherbias07

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Quote from: martinacar on September 14, 2016, 10:23:50 AM

Quote from: Huobi-USD on September 21, 2015, 02:23:32 AM

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 is going to keep existing for just a couple years but eventually everything is going to be digital I am sure of that.
But when it is going to happen I do not know that answer of that.

A couple is just two. That would be faster than I expected. I dont think it will come true in my opinion. It will be there and will be the basis of how valuable a bitcoin is. Without it how would you say the price of bitcoin is?
Something like 1btc is equal to 2 grams of gold? It is going to be hard with that.

martinacar

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Quote from: Huobi-USD on September 21, 2015, 02:23:32 AM

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 is going to keep existing for just a couple years but eventually everything is going to be digital I am sure of that.
But when it is going to happen I do not know that answer of that.

Dizaster2015

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I think it is impossible to convert paper money into a digital format. Cash paper money should be. In poor countries, still have all their savings kept only in paper money and only home. No trust have different payment systems and virtual money. Maybe in the ideal course and good to get rid of paper money, but as long as to make it impossible.

~Bitcoin~

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Quote from: BingoDog on September 08, 2016, 08:37:12 AM

Do you think that Bitcoin has the chance to also become paper money one day? Or will it just stay digital currency forever?

If you print the bitcoin paper wallet than it can be considered as bitcoin as paper money where you can load any amount of bitcoin you like and even you can spend those just by adding that address to web wallet like blockchain.info scanning private key. Grin

CrimBit

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Quote from: chaser15 on September 13, 2016, 02:08:49 PM

Quote from: botany on September 13, 2016, 11:43:31 AM

..All high value transactions are done electronically these days.

Maybe in your place or those around your country. Also it only happened for developed countries.

Yes most of the transactions are done electronically these and Im myself always do that regularly but we can only say that because we are used to it everyday.

now people hate for have biggest money at his real wallet, people not feel the secure for holding cash money, and most of people now save his money at bank, then someone will hack all bank in the world, and that's time for "the decentralization currency " bitcoin for rise due less the risk of holding it.

StoreBit

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Quote from: BingoDog on September 08, 2016, 08:37:12 AM

Do you think that Bitcoin has the chance to also become paper money one day? Or will it just stay digital currency forever?

i think it will stay digital currency for every because it is global currency and not under the influence of any state or person, but i can say that a time will come when all the people of the world will be using bitcoin instead of fiat currency.

mrhelpful

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i mean it really depends right lol.

The only way though I see bitcoin still surving is because of the trash dollar fiat - so theres no debate on that so yes it will be around.

chaser15

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Quote from: botany on September 13, 2016, 11:43:31 AM

..All high value transactions are done electronically these days.

Maybe in your place or those around your country. Also it only happened for developed countries.

Yes most of the transactions are done electronically these and Im myself always do that regularly but we can only say that because we are used to it everyday.

jak3

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banks and government control the whole country and every country have these two system but now bitcoin and other vryptocurremcys are the biggest challenge for paper money if it cam service them it will join on the digital currencys and if not then it will be extint for tje world and we will be at the future

Ayers

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Quote from: BingoDog on September 08, 2016, 08:37:12 AM

Do you think that Bitcoin has the chance to also become paper money one day? Or will it just stay digital currency forever?

no sense to have it paper, thwe meaning of bitcoin, is to be a trustless digital system, why you want to build useless paper that will have no value and promote counterfeiting and inflation and stuff like that?

botany

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Quote from: shield132 on September 13, 2016, 11:41:32 AM

oh the future of the paper money? of course it's future is burning.
Nowdays people are using visa/master card, paypal and other paying systems, if we would say it shortly, people are using paying cards. Also nowdays smartphones has built in NFC which means that we can pay without cards, only using our smartphone. Also there is virtual alternative of money and that's bitcoin. Only bitcoin can't replace paper money but payable cards and NFC system can change it.

Imagine that you don't need wallet in your pocket and money on it, use only your mobile phone and everything is done ok, I think this is the real future but it needs time to be fully and globally released because there are some poor countries.

We are getting there.
The proportion of plastic money which is used in transactions has been on the rise. All high value transactions are done electronically these days.

shield132

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oh the future of the paper money? of course it's future is burning.
Nowdays people are using visa/master card, paypal and other paying systems, if we would say it shortly, people are using paying cards. Also nowdays smartphones has built in NFC which means that we can pay without cards, only using our smartphone. Also there is virtual alternative of money and that's bitcoin. Only bitcoin can't replace paper money but payable cards and NFC system can change it.

Imagine that you don't need wallet in your pocket and money on it, use only your mobile phone and everything is done ok, I think this is the real future but it needs time to be fully and globally released because there are some poor countries.

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