The future of the paper money - page 222.

groll

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Quote from: Huobi-USD on September 21, 2015, 03:23:32 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?

This ideas are still on experimental level. Right now the banks or governments or any in the financial institutions has not yet foresee the negative impacts that this initiative will bring. People have adaptive capacity they will adjust and find answers and alternatives if problems occurred during the implementation. Hence, ther is no need to worry, no guts no glory as they say.

danherbias07

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Quote from: avikz on June 26, 2016, 10:40:56 AM

I see no threat to the future of paper money. Not at least now!

The paper money will be used forever and ever for your daily transactions. If you are not buying everything from a supermarket and using small shops to buy your daily supplies, then paper money is the only thing that is accepted.

Remember, most of the world population is unaware about bitcoin and all they know is paper money. So I see no threat to paper money for the next 30 years at least.

Super correct. Sone people here dont know that. There is still that big population of poor people who cant afford an average education to at least know what a computer is. Yes some got smartphone but are they educated enough to some languages to understand it?
A lot of reason to just use paper money.

techgeek

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Quote from: serjent05 on June 29, 2016, 12:02:09 PM

Quote from: PokerFace3 on June 29, 2016, 08:55:59 AM

Quote from: sishendaoye on June 26, 2016, 07:36:00 PM

Quote from: trickshot22 on June 26, 2016, 03:59:21 PM

As far as paper money situation go, it's highly unlikely it's going to disappear any time soon. It'll take a long time for BTC currency or any other digital currency to adapt and be stable.

However if that happens, it's likely for other currencies to literally disappear, paper money I mean, EUR/USD etc, so I think it's going to happen, but definitely with a price...

I do not think its gonna disappear but in the future it wil indeed not really used anymore that is what I can say about it.
its just a matter of time before its getting almost never be used..

I think some things should be there to compare the BTC value.. Paper money are not only the paper but its the way to communicate to others... Previously we practiced bartery system now we are using money....but still for making money we are using gold... So we are still in practice of barter system.So paper money will not disappear

I think people will go back to barter system (people in rural area) since some country is implementing a cashless system. Implementing such don't need of paper money. Since the government have control on the paper money, they can cease the production of it and them push the cashless system. One thing they can't control is the barter trade. So goods trading (barter) will be effective during that time.

The day we go back to the barter system is the day this economy just crumbles.

Theres no way since it goes back to the original problem, if the recipient doesnt want what they have. Then what? its why gold coins were formed etc.

virasog

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Quote from: chaser15 on June 29, 2016, 01:42:02 PM

Quote from: nururochac on June 29, 2016, 12:25:07 PM

You can also change the system thru gold to digital currency. So I think it is just a matter of era. Where in era where technology is the main thing we refer for our daily life and that will be adopted in the future. So as what like you said, barter system replaced to money and in the future money will be replace to digital currency.

It's not an easy as 1,2,3 even we count for many decades that won't happen.

Even how strong the technology is, it can't be applied globally and that is the reality.

Paper money is been there for centuries and you cant say it will be ended soon. It will take time for this to happen. or maybe it will never happen.

chaser15

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Quote from: nururochac on June 29, 2016, 12:25:07 PM

You can also change the system thru gold to digital currency. So I think it is just a matter of era. Where in era where technology is the main thing we refer for our daily life and that will be adopted in the future. So as what like you said, barter system replaced to money and in the future money will be replace to digital currency.

It's not an easy as 1,2,3 even we count for many decades that won't happen.

Even how strong the technology is, it can't be applied globally and that is the reality.

nururochac

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Quote from: PokerFace3 on June 29, 2016, 08:55:59 AM

Quote from: sishendaoye on June 26, 2016, 07:36:00 PM

Quote from: trickshot22 on June 26, 2016, 03:59:21 PM

As far as paper money situation go, it's highly unlikely it's going to disappear any time soon. It'll take a long time for BTC currency or any other digital currency to adapt and be stable.

However if that happens, it's likely for other currencies to literally disappear, paper money I mean, EUR/USD etc, so I think it's going to happen, but definitely with a price...

I do not think its gonna disappear but in the future it wil indeed not really used anymore that is what I can say about it.
its just a matter of time before its getting almost never be used..

I think some things should be there to compare the BTC value.. Paper money are not only the paper but its the way to communicate to others... Previously we practiced bartery system now we are using money....but still for making money we are using gold... So we are still in practice of barter system.So paper money will not disappear

You can also change the system thru gold to digital currency. So I think it is just a matter of era. Where in era where technology is the main thing we refer for our daily life and that will be adopted in the future. So as what like you said, barter system replaced to money and in the future money will be replace to digital currency.

serjent05

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Quote from: PokerFace3 on June 29, 2016, 08:55:59 AM

Quote from: sishendaoye on June 26, 2016, 07:36:00 PM

Quote from: trickshot22 on June 26, 2016, 03:59:21 PM

As far as paper money situation go, it's highly unlikely it's going to disappear any time soon. It'll take a long time for BTC currency or any other digital currency to adapt and be stable.

However if that happens, it's likely for other currencies to literally disappear, paper money I mean, EUR/USD etc, so I think it's going to happen, but definitely with a price...

I do not think its gonna disappear but in the future it wil indeed not really used anymore that is what I can say about it.
its just a matter of time before its getting almost never be used..

I think some things should be there to compare the BTC value.. Paper money are not only the paper but its the way to communicate to others... Previously we practiced bartery system now we are using money....but still for making money we are using gold... So we are still in practice of barter system.So paper money will not disappear

I think people will go back to barter system (people in rural area) since some country is implementing a cashless system. Implementing such don't need of paper money. Since the government have control on the paper money, they can cease the production of it and them push the cashless system. One thing they can't control is the barter trade. So goods trading (barter) will be effective during that time.

PokerFace3

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Quote from: sishendaoye on June 26, 2016, 07:36:00 PM

Quote from: trickshot22 on June 26, 2016, 03:59:21 PM

As far as paper money situation go, it's highly unlikely it's going to disappear any time soon. It'll take a long time for BTC currency or any other digital currency to adapt and be stable.

However if that happens, it's likely for other currencies to literally disappear, paper money I mean, EUR/USD etc, so I think it's going to happen, but definitely with a price...

I do not think its gonna disappear but in the future it wil indeed not really used anymore that is what I can say about it.
its just a matter of time before its getting almost never be used..

I think some things should be there to compare the BTC value.. Paper money are not only the paper but its the way to communicate to others... Previously we practiced bartery system now we are using money....but still for making money we are using gold... So we are still in practice of barter system.So paper money will not disappear

danherbias07

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Quote from: Positid on June 26, 2016, 09:17:37 AM

Quote from: universe_ on June 26, 2016, 09:05:53 AM

I doubt it will disappear anytime soon, maybe in a fifty to hundred years once it become irrelevant as society evolves

if it'd disappear now, btc price would not skyrocket that much as well, because we have electronic banking, which we'd surely use

Absolutely, we cannot eliminate paper money in the circulation since it is very simple to use it and we cannot expect all the population in this to have that kind of education as we have, with that said, they will having a hard time to adopt bitcoins.

It is not people being lazy to get knowledge about bitcoin byt the lack of advertising so that society will see how cool it is or how it could take over the online transaction. Still ends with that point and if everyone will accept it.

sishendaoye

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Quote from: trickshot22 on June 26, 2016, 03:59:21 PM

As far as paper money situation go, it's highly unlikely it's going to disappear any time soon. It'll take a long time for BTC currency or any other digital currency to adapt and be stable.

However if that happens, it's likely for other currencies to literally disappear, paper money I mean, EUR/USD etc, so I think it's going to happen, but definitely with a price...

I do not think its gonna disappear but in the future it wil indeed not really used anymore that is what I can say about it.
its just a matter of time before its getting almost never be used..

diodio5

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Quote from: goinmerry on June 26, 2016, 12:26:32 AM

I think we should stop watching to much movies. Reality is different than those movies. Very different. Paper money will be there for a very long time. Dont say people will stop using it. It is absurd, not cool. You want an innovation that will make a war.

I think it is not absurd dude. I'm sure in the future people will prefer the simple things included in the payment. even today you can see many people who use a credit card or debit card to pay goods? it proves that age is more advanced and paper money has started at left

Cyaren

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Quote from: JumperX on June 26, 2016, 04:20:09 PM

Quote from: lexuz on June 26, 2016, 11:02:24 AM

Quote from: simplelife888 on June 26, 2016, 09:33:03 AM

There is no future for paper money and there is future for digital money like Bitcoin i think paper money is outdated system for acomomic system for this centuries and bitcoin is big chance for to change this aconomic system and i know it will change and we will only use bitcoin in the future.

I don't agree anyhow the banknotes it has a very strong foundation in real life because they were created by the government and of course there are legal regulations inside it.

Yeah paper money has backing and support from the Government and it will always there, and Government will never love to see that any digital currency replacing their traditional currency.

No country wants that, but it is bound to happen when you really think about the logic, we are the digital age and we will make most things go digital until we realize what a giant mistake that was and go back to like the stone age.

JumperX

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Quote from: lexuz on June 26, 2016, 11:02:24 AM

Quote from: simplelife888 on June 26, 2016, 09:33:03 AM

There is no future for paper money and there is future for digital money like Bitcoin i think paper money is outdated system for acomomic system for this centuries and bitcoin is big chance for to change this aconomic system and i know it will change and we will only use bitcoin in the future.

I don't agree anyhow the banknotes it has a very strong foundation in real life because they were created by the government and of course there are legal regulations inside it.

Yeah paper money has backing and support from the Government and it will always there, and Government will never love to see that any digital currency replacing their traditional currency.

trickshot22

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As far as paper money situation go, it's highly unlikely it's going to disappear any time soon. It'll take a long time for BTC currency or any other digital currency to adapt and be stable.

However if that happens, it's likely for other currencies to literally disappear, paper money I mean, EUR/USD etc, so I think it's going to happen, but definitely with a price...

lexuz

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Quote from: simplelife888 on June 26, 2016, 09:33:03 AM

There is no future for paper money and there is future for digital money like Bitcoin i think paper money is outdated system for acomomic system for this centuries and bitcoin is big chance for to change this aconomic system and i know it will change and we will only use bitcoin in the future.

I don't agree anyhow the banknotes it has a very strong foundation in real life because they were created by the government and of course there are legal regulations inside it.

avikz

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I see no threat to the future of paper money. Not at least now!

The paper money will be used forever and ever for your daily transactions. If you are not buying everything from a supermarket and using small shops to buy your daily supplies, then paper money is the only thing that is accepted.

Remember, most of the world population is unaware about bitcoin and all they know is paper money. So I see no threat to paper money for the next 30 years at least.

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Quote from: BitcoinHodler on June 26, 2016, 08:55:55 AM

Quote from: nururochac on June 26, 2016, 08:48:43 AM

Quote from: tygeade on June 26, 2016, 07:24:57 AM

Quote from: Zooplus on June 26, 2016, 07:13:32 AM

Quote from: MTBTT on June 26, 2016, 05:43:57 AM

Quote from: neochiny on June 26, 2016, 02:40:41 AM

Quote from: Cyaren on June 25, 2016, 08:44:04 PM

Quote from: betohell on June 25, 2016, 06:02:50 PM

Quote from: Mr.grin on June 25, 2016, 11:41:57 AM

I think bitcoin will never replace the role of paper money. today people are already accustomed to using paper money, even a little child already knows how to use it. I think bitcoin will only be part of the Internet, or digital currency

bitcoin will never replace fiat or paper money. but I am sure paper money will disappear and be replaced by a new version of fiat? how bitcoin? maybe options available for fiat

Paper money will eventually dissapear because we are the innovation generation we started most of the innovating in the world, we will change the world to digital currency, even if that currency ends up just being the same ones we use today but just online, it will mostly be online! Cheesy

well your talking far into the future, yes paper will disappear one day and be replace by a money probably digital if the whole planet is capable of giving everyone a gadget that is able to use the said currency. but, rightnow and for the several decades to come paper money
will reign, bitcoin might be able to become alternate currency but that is for the best.

yeah I thought so that paper money will definitely be replaced with something more inovativ and more advanced course.
but all the people will not know when it will happen?

You cannot replace paper money because that is the simplest means in doing your transactions daily. People who does not know how to use internet will be comfortable in using paper money.

Paper money is still the best when it comes to buy anything physically, as there are many places where only paper money can take care of, and I think it will survive forever.

It is indeed the best currency for now as we have no choice other than paper money that accept most of the transaction from buying in market, buying services, etc. we do everyday. If there will be a new option(which is most likely to be the digital currency like bitcoin) then I think the opinion will be half in the future.

i couldn't agree more.
the current situation is showing that for a digital currency and the technology that blockchain has introduced us, bitcoin is the best thing that we could ever hope for.
and unless there is a new technology that can beat bitcoin's tech in the far far future i don't see anything replacing it.

yes bitcoin technology is one of the best technology regarding cryptocurrency but i doubt bitcoin will be the one to replace paper money
if the government ever wanted a digital currency to replace theirs they will just make their own that suits their way of controlling it.
i dont think we can compare bitcoin deflation system to government digital currency if they made one they will probably make a inflation type system rather than deflation.

simplelife888

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There is no future for paper money and there is future for digital money like Bitcoin i think paper money is outdated system for acomomic system for this centuries and bitcoin is big chance for to change this aconomic system and i know it will change and we will only use bitcoin in the future.

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Quote from: Positid on June 26, 2016, 09:17:37 AM

Quote from: universe_ on June 26, 2016, 09:05:53 AM

I doubt it will disappear anytime soon, maybe in a fifty to hundred years once it become irrelevant as society evolves

if it'd disappear now, btc price would not skyrocket that much as well, because we have electronic banking, which we'd surely use

Absolutely, we cannot eliminate paper money in the circulation since it is very simple to use it and we cannot expect all the population in this to have that kind of education as we have, with that said, they will having a hard time to adopt bitcoins.

well as far as education goes, it's not really that, it's just that they are not aware of the benefits BTC has, can't blame them for that. They go with something they are very attached to.

also if by any chance usa/europe switches to BTC, we'd have an economical crisis for sure, other (undeveloped) countries (not to insult them though) are very "ego" on the new changes.

Positid

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Quote from: universe_ on June 26, 2016, 09:05:53 AM

I doubt it will disappear anytime soon, maybe in a fifty to hundred years once it become irrelevant as society evolves

if it'd disappear now, btc price would not skyrocket that much as well, because we have electronic banking, which we'd surely use

Absolutely, we cannot eliminate paper money in the circulation since it is very simple to use it and we cannot expect all the population in this to have that kind of education as we have, with that said, they will having a hard time to adopt bitcoins.

Topic: The future of the paper money - page 222. (Read 416566 times)