Topic: The future of the paper money - page 211. (Read 416566 times)

Quote from: tabas on July 22, 2016, 10:07:15 AM

In the light of the current discussion on helicopter money, with known inflation consequences, it could be that bitcoins become the much more popular. With high inflation, as people start fleeing towards a safe currency which could be the bitcoin.

Well you are right people are looking for a safe currency which is going to give them convenience at all. And with paper money there are robbers that are going to hunt you down if you are going to hold a lot of money. But with bitcoin it is safe on your bitcoin wallet.

Yeah due to the robbers people try to stay with digital system, like bank cards etc, and if they will know about bitcoin and will know about its features they will start to love it and will adopt it for their uses and security.

I think it is still very difficult to use digital money, maybe there are still many places that do not provide it. paper money may still be used for prolonged periods of time because the most important reason is that people have become accustomed to using paper money, it may take a very long time so that people can understand about digital transactions

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Quote from: Whosdaddy on July 22, 2016, 11:02:12 AM

In the light of the current discussion on helicopter money, with known inflation consequences, it could be that bitcoins become the much more popular. With high inflation, as people start fleeing towards a safe currency which could be the bitcoin.

Well you are right people are looking for a safe currency which is going to give them convenience at all. And with paper money there are robbers that are going to hunt you down if you are going to hold a lot of money. But with bitcoin it is safe on your bitcoin wallet.

Yeah due to the robbers people try to stay with digital system, like bank cards etc, and if they will know about bitcoin and will know about its features they will start to love it and will adopt it for their uses and security.

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Quote from: betohell on July 22, 2016, 04:13:55 AM

Quote from: bitcoinisfurture on July 21, 2016, 01:38:49 AM

Future remains intact of the paper money as worldwide there cannot be one currency. Paper money will not disappear anytime soon, maybe it will be replaced by something else similar to paper. Bitcoin could act as an secondary currency if country adopts it.

I think the paper money will not be replaced by other banknotes version but will be replaced by something more sophisticated like digital currency. perhaps currencies like bitcoin could take over

Bitcoin has all the potential to replace paper money. But the question is what is the level of understanding about bitcoin by people and how many people from around the globe are having awareness on bitcoin payment system. Without any proper answers for above questions, it is highly insane if we are expecting bitcoin to replace paper money.

Bitcoin is actually not that popular, some of the users of bitcoins are from the major countries only like USA, EUROPE, and CHINA. If we want to see bitcoin to be a popular global currency we also need to see some countries adopting with bitcoins.

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Hallo world!

I travel a lot in last month. I see that paper money is near to be banned to a lot of governement that looks for be sure that people pay all the due in taxes. I was in italy for example, and i cannot pay forc cash a Luis Vuitton bag because it coste over 1000 euro. Such a stupid thing!

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Quote from: betohell on July 22, 2016, 04:13:55 AM

Quote from: bitcoinisfurture on July 21, 2016, 01:38:49 AM

Future remains intact of the paper money as worldwide there cannot be one currency. Paper money will not disappear anytime soon, maybe it will be replaced by something else similar to paper. Bitcoin could act as an secondary currency if country adopts it.

I think the paper money will not be replaced by other banknotes version but will be replaced by something more sophisticated like digital currency. perhaps currencies like bitcoin could take over

Bitcoin has all the potential to replace paper money. But the question is what is the level of understanding about bitcoin by people and how many people from around the globe are having awareness on bitcoin payment system. Without any proper answers for above questions, it is highly insane if we are expecting bitcoin to replace paper money.

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It will be a long time before paper money is no longer used.
Everyone would need a device with them (smartphone etc) that can send and receive payments.
It will happen one day though. People already use credit cards and pay with their smartphone app.

And just because currency is digital, doesn't mean you are safe from getting robbed!
In the future we will see people being held at gunpoint until they reveal the password to the account,
and hackers stealing money online instead of bank robbers running away with an armored car full of cash!

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Quote from: nururochac on July 22, 2016, 05:38:07 AM

In the light of the current discussion on helicopter money, with known inflation consequences, it could be that bitcoins become the much more popular. With high inflation, as people start fleeing towards a safe currency which could be the bitcoin.

Well you are right people are looking for a safe currency which is going to give them convenience at all. And with paper money there are robbers that are going to hunt you down if you are going to hold a lot of money. But with bitcoin it is safe on your bitcoin wallet.

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Quote from: Mr. Big on July 21, 2016, 04:25:38 AM

Quote from: bitcoinisfurture on July 21, 2016, 01:38:49 AM

Future remains intact of the paper money as worldwide there cannot be one currency. Paper money will not disappear anytime soon, maybe it will be replaced by something else similar to paper. Bitcoin could act as an secondary currency if country adopts it.

I think this is more depending on generations. The older generations want their paper money, which they can feel and carry around. But the younger generations prefer the plastic money by just having one credit card. In the next 20-30 years we will see the paper money more and more disappear.

For politics it would be great to get rid of all paper money as they can fully control virtual currencies.

Well, it depends, younger generations may want their card so as the old want the paper money, but they won't be the one deciding when will paper money disappear.. It is the government that will decide which one is better for the state... Most probably, politicians might probably the first one to object to going digital..For sure they will hate the transition period... Grin

Most valid reason so far. Although we're in a progressive development of technology if other people choose to have their own simple way of living like sticking on what they already know which is fiat, it won't make the paper money obsolete.

As of today's current state of the economy, I don't think paper money will be lose in circulation. Paper money is the simplest bill to use in majoirity of transactions in our life, bitcoins is great but having different options to spend is way more better.

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Quote from: Mr. Big on July 21, 2016, 04:25:38 AM

Quote from: bitcoinisfurture on July 21, 2016, 01:38:49 AM

Future remains intact of the paper money as worldwide there cannot be one currency. Paper money will not disappear anytime soon, maybe it will be replaced by something else similar to paper. Bitcoin could act as an secondary currency if country adopts it.

I think this is more depending on generations. The older generations want their paper money, which they can feel and carry around. But the younger generations prefer the plastic money by just having one credit card. In the next 20-30 years we will see the paper money more and more disappear.

For politics it would be great to get rid of all paper money as they can fully control virtual currencies.

Well, it depends, younger generations may want their card so as the old want the paper money, but they won't be the one deciding when will paper money disappear.. It is the government that will decide which one is better for the state... Most probably, politicians might probably the first one to object to going digital..For sure they will hate the transition period... Grin

Most valid reason so far. Although we're in a progressive development of technology if other people choose to have their own simple way of living like sticking on what they already know which is fiat, it won't make the paper money obsolete.

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Quote from: bitcoinisfurture on July 21, 2016, 01:38:49 AM

In the light of the current discussion on helicopter money, with known inflation consequences, it could be that bitcoins become the much more popular. With high inflation, as people start fleeing towards a safe currency which could be the bitcoin.

Last time, helicoptered money ran directly into gold and silver. I don't think this time it will be much different, but Bitcoin may well get its due share of "easy" money

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In the light of the current discussion on helicopter money, with known inflation consequences, it could be that bitcoins become the much more popular. With high inflation, as people start fleeing towards a safe currency which could be the bitcoin.

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Future remains intact of the paper money as worldwide there cannot be one currency. Paper money will not disappear anytime soon, maybe it will be replaced by something else similar to paper. Bitcoin could act as an secondary currency if country adopts it.

I think the paper money will not be replaced by other banknotes version but will be replaced by something more sophisticated like digital currency. perhaps currencies like bitcoin could take over

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Quote from: neochiny on July 21, 2016, 10:12:54 AM

bluetooth and scanning can be used without internet. and if ever the government made their own digital currency
they would consider everything speed of transaction,features of the coin in question,efficiency,security etc..
internet wont be the main factor on a transaction if the government made a digital currency.

Governments already have digital monies. It is the same fiat money existing only in digital form. In fact, the cashless form is overwhelming by amount, paper money makes up only a tiny percentage of all money in circulation in today's economies

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Quote from: ASHLIUSZ on July 21, 2016, 10:09:23 PM

Bitcoin is a relatively new form of currency that is just beginning to hit the mainstream, that is far faster than any inter-bank transfer and survives for long. Paper money is the old one that remains the same and cannot be replaced by bitcoin.

some governments are also developing their own digital currency to speed up transmission and reduce cost.

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Quote from: peta4e on July 21, 2016, 10:22:53 AM

Quote from: chaser15 on July 21, 2016, 04:40:33 AM

Quote from: milewilda on July 21, 2016, 02:40:44 AM

Quote from: milewilda on July 21, 2016, 02:29:35 AM

Quote from: bitcoinisfurture on July 21, 2016, 01:38:49 AM

Future remains intact of the paper money as worldwide there cannot be one currency. Paper money will not disappear anytime soon, maybe it will be replaced by something else similar to paper. Bitcoin could act as an secondary currency if country adopts it.

Paper money would not disappear since its been used for many centuries even there are lots of kinds of currency out there, one would be replace and one currency would exist . You stated that bitcoin would act as secondary, yes it would since theres no possibility that bitcoin could replace paper money since btc was made of codes it a different story and shouldnt be compare.

In the future it could be more on digital money rather than paper money but we cannot predict when it will happen. There is a good possibility that it will happen because the world is starting to switch into paperless economy.

Well you have a point since technology is upgrading everyday maybe those digital currencies would be adopt by a certain country but i would take time too too replace paper currency. Lets see what would be the potential of digital currency like bitcoin would contribute and developed in the future.

Let's make things easy to understand,

Paper money is on the real world while bitcoin is on virtual world. How come a paper money can dominate the digital transactions, also same goes for bitcoin on how can it dominates the physical transactions without using an internet.

The fact is both will survive in long run and people will use both of them according to their convenience as I don't think that bitcoin can ever take place of paper money.

Bitcoin is a relatively new form of currency that is just beginning to hit the mainstream, that is far faster than any inter-bank transfer and survives for long. Paper money is the old one that remains the same and cannot be replaced by bitcoin.

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Quote from: chaser15 on July 21, 2016, 04:40:33 AM

Quote from: milewilda on July 21, 2016, 02:40:44 AM

Quote from: milewilda on July 21, 2016, 02:29:35 AM

Quote from: bitcoinisfurture on July 21, 2016, 01:38:49 AM

Future remains intact of the paper money as worldwide there cannot be one currency. Paper money will not disappear anytime soon, maybe it will be replaced by something else similar to paper. Bitcoin could act as an secondary currency if country adopts it.

Paper money would not disappear since its been used for many centuries even there are lots of kinds of currency out there, one would be replace and one currency would exist . You stated that bitcoin would act as secondary, yes it would since theres no possibility that bitcoin could replace paper money since btc was made of codes it a different story and shouldnt be compare.

In the future it could be more on digital money rather than paper money but we cannot predict when it will happen. There is a good possibility that it will happen because the world is starting to switch into paperless economy.

Well you have a point since technology is upgrading everyday maybe those digital currencies would be adopt by a certain country but i would take time too too replace paper currency. Lets see what would be the potential of digital currency like bitcoin would contribute and developed in the future.

Let's make things easy to understand,

Paper money is on the real world while bitcoin is on virtual world. How come a paper money can dominate the digital transactions, also same goes for bitcoin on how can it dominates the physical transactions without using an internet.

The fact is both will survive in long run and people will use both of them according to their convenience as I don't think that bitcoin can ever take place of paper money.

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Quote from: chaser15 on July 21, 2016, 04:40:33 AM

Quote from: milewilda on July 21, 2016, 02:40:44 AM

Quote from: milewilda on July 21, 2016, 02:29:35 AM

Quote from: bitcoinisfurture on July 21, 2016, 01:38:49 AM

Future remains intact of the paper money as worldwide there cannot be one currency. Paper money will not disappear anytime soon, maybe it will be replaced by something else similar to paper. Bitcoin could act as an secondary currency if country adopts it.

Paper money would not disappear since its been used for many centuries even there are lots of kinds of currency out there, one would be replace and one currency would exist . You stated that bitcoin would act as secondary, yes it would since theres no possibility that bitcoin could replace paper money since btc was made of codes it a different story and shouldnt be compare.

In the future it could be more on digital money rather than paper money but we cannot predict when it will happen. There is a good possibility that it will happen because the world is starting to switch into paperless economy.

Well you have a point since technology is upgrading everyday maybe those digital currencies would be adopt by a certain country but i would take time too too replace paper currency. Lets see what would be the potential of digital currency like bitcoin would contribute and developed in the future.

Let's make things easy to understand,

Paper money is on the real world while bitcoin is on virtual world. How come a paper money can dominate the digital transactions, also same goes for bitcoin on how can it dominates the physical transactions without using an internet.

bluetooth and scanning can be used without internet. and if ever the government made their own digital currency
they would consider everything speed of transaction,features of the coin in question,efficiency,security etc..
internet wont be the main factor on a transaction if the government made a digital currency.

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Quote from: Mr. Big on July 21, 2016, 04:25:38 AM

Quote from: bitcoinisfurture on July 21, 2016, 01:38:49 AM

Future remains intact of the paper money as worldwide there cannot be one currency. Paper money will not disappear anytime soon, maybe it will be replaced by something else similar to paper. Bitcoin could act as an secondary currency if country adopts it.

I think this is more depending on generations. The older generations want their paper money, which they can feel and carry around. But the younger generations prefer the plastic money by just having one credit card. In the next 20-30 years we will see the paper money more and more disappear.

For politics it would be great to get rid of all paper money as they can fully control virtual currencies.

Well, it depends, younger generations may want their card so as the old want the paper money, but they won't be the one deciding when will paper money disappear.. It is the government that will decide which one is better for the state... Most probably, politicians might probably the first one to object to going digital..For sure they will hate the transition period... Grin

Yeah you are right. But any government would prefer electronic money to paper money as the control abilities are much higher for virtual currencies. For example now negative interest rates for consumers are just not feasible as the consumer would just pick up the money and store it at home.
With virtual currencies there is no way around it anymore.

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Quote from: milewilda on July 21, 2016, 02:40:44 AM

Quote from: milewilda on July 21, 2016, 02:29:35 AM

Quote from: bitcoinisfurture on July 21, 2016, 01:38:49 AM

Future remains intact of the paper money as worldwide there cannot be one currency. Paper money will not disappear anytime soon, maybe it will be replaced by something else similar to paper. Bitcoin could act as an secondary currency if country adopts it.

Paper money would not disappear since its been used for many centuries even there are lots of kinds of currency out there, one would be replace and one currency would exist . You stated that bitcoin would act as secondary, yes it would since theres no possibility that bitcoin could replace paper money since btc was made of codes it a different story and shouldnt be compare.

In the future it could be more on digital money rather than paper money but we cannot predict when it will happen. There is a good possibility that it will happen because the world is starting to switch into paperless economy.

Well you have a point since technology is upgrading everyday maybe those digital currencies would be adopt by a certain country but i would take time too too replace paper currency. Lets see what would be the potential of digital currency like bitcoin would contribute and developed in the future.

Let's make things easy to understand,

Paper money is on the real world while bitcoin is on virtual world. How come a paper money can dominate the digital transactions, also same goes for bitcoin on how can it dominates the physical transactions without using an internet.

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