The future of the paper money - page 226.

chaser15

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Quote from: t_broom on June 22, 2016, 09:45:11 AM

The era of paper money is coming to an end, IMO.
Soon it will be entirely replaced by electronic/plastic analogues.

Oh look like you thinking is way too much. Paper will money will exist in decades. Virtual currency are meant for virtual transations same with fiat currency are for fiat transactions.

No way virtual currency can touch physical transaction without an active internet network.

t_broom

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The era of paper money is coming to an end, IMO.
Soon it will be entirely replaced by electronic/plastic analogues.

chaser15

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Quote from: Shibashi Dogemoto on June 22, 2016, 08:25:11 AM

Quote from: danherbias07 on June 22, 2016, 08:08:31 AM

Quote from: Qaoven on June 20, 2016, 05:21:46 AM

You see now indeed that there are now more people that is using Bitcoin as their payment method and that is really nice for the currency itself of course but there are still a lot of people that is using paper money.
So it is not that bad for paper money and you have to make Bitcoin more popular if you want to let it disappear.

I am sure there are really a lot more still using paper money. Specially those countries that are not developed yet and some countries that are not rich. They cant afford some technology things and cant even have a good education about how computer or a smartphone work.

That's true and they really don't care about bitcoin as they are not aware and even if they are aware they don't know how to use it because of lack of knowledge.

No it's not that they didn't care for bitcoin. Maybe even they have lots of bitcoin, possibility of using it in their place is really not present. Also exchanges are not that yet present in those third world countries. So still they will hug the art of fiat because they can use it most compare to bitcoin. Remember that bitcoin is useless without internet.

bitlancr

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Quote from: 23dzmaz on March 13, 2016, 04:33:32 AM

Quote from: jaysabi on March 12, 2016, 11:26:25 AM

Paper money is more durable than electronic money. Obviously, you cannot accept electronic money any place that is not specifically set up to take it, or when power or internet is out. I'm not sure you'll ever eliminate physical currency for that reason.

I agree with you, especially in my country there are many place that hard to get internet. So paper money very usefull on that place. I think paper money will permanent in some place.

The paper money is going to stay for a little longer I believe, it will not disappear so quick they also do not need to force it.
When the time is right the paper money is going to disappear.

BitsandBites

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I dont think there is coming a big surprise for the paper money in the world because paper money will always be the number one paying method for the most people so i dont think you should worry about that.

Shibashi Dogemoto

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Quote from: danherbias07 on June 22, 2016, 08:08:31 AM

Quote from: Qaoven on June 20, 2016, 05:21:46 AM

You see now indeed that there are now more people that is using Bitcoin as their payment method and that is really nice for the currency itself of course but there are still a lot of people that is using paper money.
So it is not that bad for paper money and you have to make Bitcoin more popular if you want to let it disappear.

I am sure there are really a lot more still using paper money. Specially those countries that are not developed yet and some countries that are not rich. They cant afford some technology things and cant even have a good education about how computer or a smartphone work.

That's true and they really don't care about bitcoin as they are not aware and even if they are aware they don't know how to use it because of lack of knowledge.

danherbias07

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Quote from: Qaoven on June 20, 2016, 05:21:46 AM

You see now indeed that there are now more people that is using Bitcoin as their payment method and that is really nice for the currency itself of course but there are still a lot of people that is using paper money.
So it is not that bad for paper money and you have to make Bitcoin more popular if you want to let it disappear.

I am sure there are really a lot more still using paper money. Specially those countries that are not developed yet and some countries that are not rich. They cant afford some technology things and cant even have a good education about how computer or a smartphone work.

Cyaren

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I don't think that paper money has any future at all, considering that it has no real value and only the government has control over its supply and nobody else. So I don't think that it is a good idea at all.

Whilst bitcoin is a great technology, that has a great future.

Altynbekova

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Quote from: mindrust on September 21, 2015, 02:40:32 AM

I like paper money. I like to feel the buying power in my hands :p Bitcoin makes me feel like a robot. I am not saying paper money is better tho.

I also have the same thing when I have real paper money instead of the Bitcoin, with the Bitcoin you know that you have money if you have Bitcoins but you will have to sell them first so it is a whole process. With paper money that is not the case at all.

nururochac

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Quote from: Dr.Osh on June 19, 2016, 08:00:10 AM

Quote from: serjent05 on June 19, 2016, 07:19:31 AM

I think the future of paper money is threaten by the release of the "paper wallet" Cheesy

In this fast pace system, paper money , might experience the same faith as snail mail when internet become popular. As more eastablishment accept digital payment, paper money will lose it's usefulness little by little. If this continue, paper money will be useless.

I do not believe in the future of paper money will not be used. I actually think that paper money is a form of money is very good, it is very easy to carry and exchanged, and it was not a hassle. and I'm pretty sure if bitcoin is growing, it would probably evolve into paper money in a matter of bitcoin

No it's not good. Once people knew that banks used to take advantage of it by making paper money out of thin air just to pay for their debts and results to inflation that's the time peopel will realize that paper money is not so good in society.

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Quote from: Qaoven on June 20, 2016, 05:21:46 AM

You see now indeed that there are now more people that is using Bitcoin as their payment method and that is really nice for the currency itself of course but there are still a lot of people that is using paper money.
So it is not that bad for paper money and you have to make Bitcoin more popular if you want to let it disappear.

Regardless, bitcoins will not sill replace paper money. As of now, we have a lot of users of paper money and the users of bitcoins is just minimal in area because some people are not comfortable in using the complicated bitcoins. I know in the future bitcoins will be popular but only for those businessman out their who use internet online payments to fast track their transactions.

Qaoven

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You see now indeed that there are now more people that is using Bitcoin as their payment method and that is really nice for the currency itself of course but there are still a lot of people that is using paper money.
So it is not that bad for paper money and you have to make Bitcoin more popular if you want to let it disappear.

goinmerry

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Quote from: Enotche on June 20, 2016, 12:58:48 AM

The transition to a cashless economy will raise public interest in such money archetypes, like gold. But it can be argued that attract considerable attention, and digital money: Bitcoin, ethers and other decentralized currency.

In 2016, with the spread of contactless payments, we are witnessing the disappearance of paper money and get closer to the clearing existence. Now sending and receiving of money is done by only one phone, which we almost always carry with them. Someone famous, describing freedom that we give Bitcoin and smartphones, very aptly:. "Now everyone in your pocket a Swiss bank account"

Paper money will disappear, people will not use them as soon as they will increase the level of technical expertise, and the state will be transferred to the new economic levels and models.

Good one. But giving smartphones and Bitcoins? Who will do this? But I can say that is the best way to make people use it. Give something that will start to push them into learning the cryptocurrency. We might also need to provide some starting preview on how they will use it.

Enotche

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The transition to a cashless economy will raise public interest in such money archetypes, like gold. But it can be argued that attract considerable attention, and digital money: Bitcoin, ethers and other decentralized currency.

In 2016, with the spread of contactless payments, we are witnessing the disappearance of paper money and get closer to the clearing existence. Now sending and receiving of money is done by only one phone, which we almost always carry with them. Someone famous, describing freedom that we give Bitcoin and smartphones, very aptly:. "Now everyone in your pocket a Swiss bank account"

Paper money will disappear, people will not use them as soon as they will increase the level of technical expertise, and the state will be transferred to the new economic levels and models.

danherbias07

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Quote from: Woshib on June 19, 2016, 08:18:09 PM

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?

The written currency is very important in our societies, it has been a while.
It is possible that the written currency disappears, but it will be a difficult change for peoples.

It is not just difficult but a really big step for change. It is like you have to kill everyone to start a new one. People are so much used to this kind of thing and that cannot be changed in just a blink. Perhaps government should make a move to make it usable first with paper money. Then change it slowly.

Woshib

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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?

The written currency is very important in our societies, it has been a while.
It is possible that the written currency disappears, but it will be a difficult change for peoples.

AndySt

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Quote from: deisik on June 19, 2016, 04:15:10 PM

Quote from: pereira4 on June 19, 2016, 10:44:36 AM

Quote from: umaOuma on June 19, 2016, 10:26:01 AM

Quote from: Positid on June 19, 2016, 10:16:08 AM

Quote from: gilangIDR on June 19, 2016, 08:03:12 AM

paper money is a payment konvensiplonal used by everyone in the world today. if it could be even greater bitcoin I believe paper money still will get a share. at least the future of paper money and bitcoin is 50%. both are still needed for economic survival in this world.

Bitcoins cannot surpass the demand of paper money and even if the future of paper money is not that attractive but we will always see them in the circulation as it was backed by the government and anything that the government made will last more than the non regulated ones.

That's true paper money has great support from the Government and it will continue in future too and Government will never allow any digital currency to be their primary currency.

Are you kidding me. There is an on going agenda to get rid of cash. In 10 years paper cash will not exist. Government hates it because they can't control it. They will release their own crypto dollars. Big names in the ECB already said they don't think cash will exist in 10 years time.

More likely that these big names in 10 years time will either turn from big names into dirty names (to scare children into obedience) or just vanish without trace in the sands of time...

It is not given that the ECB itself will still exist by then, lol

Hello brave new world with life in a fragile glass house.

deisik

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Quote from: pereira4 on June 19, 2016, 10:44:36 AM

Quote from: umaOuma on June 19, 2016, 10:26:01 AM

Quote from: Positid on June 19, 2016, 10:16:08 AM

Quote from: gilangIDR on June 19, 2016, 08:03:12 AM

paper money is a payment konvensiplonal used by everyone in the world today. if it could be even greater bitcoin I believe paper money still will get a share. at least the future of paper money and bitcoin is 50%. both are still needed for economic survival in this world.

Bitcoins cannot surpass the demand of paper money and even if the future of paper money is not that attractive but we will always see them in the circulation as it was backed by the government and anything that the government made will last more than the non regulated ones.

That's true paper money has great support from the Government and it will continue in future too and Government will never allow any digital currency to be their primary currency.

Are you kidding me. There is an on going agenda to get rid of cash. In 10 years paper cash will not exist. Government hates it because they can't control it. They will release their own crypto dollars. Big names in the ECB already said they don't think cash will exist in 10 years time.

More likely that these big names in 10 years time will either turn from big names into dirty names (to scare children into obedience) or just vanish without trace in the sands of time...

It is not given that the ECB itself will still exist by then, lol

fravia

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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?

There's a lot of discussion about this on these forums (and a lot of disagreement that comes with it), so i think it's clear that all can be made are assumptions, that being said, here are mine
Paper money will never be banned, so i don't think there's a timescale for it to be wiped out, however i'm sure that an online currency would work perfectly well once it is more stable than it currently is, the security risk is that every single thing you do, buy or sell will be recorded

stromma44

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Quote from: pereira4 on June 19, 2016, 10:44:36 AM

Quote from: umaOuma on June 19, 2016, 10:26:01 AM

Quote from: Positid on June 19, 2016, 10:16:08 AM

Quote from: gilangIDR on June 19, 2016, 08:03:12 AM

paper money is a payment konvensiplonal used by everyone in the world today. if it could be even greater bitcoin I believe paper money still will get a share. at least the future of paper money and bitcoin is 50%. both are still needed for economic survival in this world.

Bitcoins cannot surpass the demand of paper money and even if the future of paper money is not that attractive but we will always see them in the circulation as it was backed by the government and anything that the government made will last more than the non regulated ones.

That's true paper money has great support from the Government and it will continue in future too and Government will never allow any digital currency to be their primary currency.

Are you kidding me. There is an on going agenda to get rid of cash. In 10 years paper cash will not exist. Government hates it because they can't control it. They will release their own crypto dollars. Big names in the ECB already said they don't think cash will exist in 10 years time.

I don't think so, paper money will never die, even everything gets digital there will be certain people who will prefer to use paper money, as they don't want to complicate their spendings.

Topic: The future of the paper money - page 226. (Read 416598 times)