The future of the paper money - page 239.

expert4knowledge

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I like bitcoins a lot, paper money is very risky especially when bringing it in a dangerous place. I think the world is a better place to live if we all go digital. In that sense we could easily track our expenses and even required the government to give us the information to track public spending.

Even I like so much pal, The future of the paper money is pretty bad because everything is gonna be digital so that is good for the bitcoin but bad for the paper money.

Paper money will never extinguish but the use of it for sure will be decreased in the next years.

I see no decrease even for the next 50 years. Paper money will still prevail and all kinds of transactions are possible in paper money rather by bitcoin which you only have the ability to accessed it by online.

But I think the usage of paper money will be decreased in the next 50 years as the percentage of people who constantly have always paper money in their pockets decreased or at least the level of money they use decreased.

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Quote from: mindrust on September 21, 2015, 03:40:32 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.

Day by day the world is going to be part of Digital. As I feel in the digital world paper money is going to vanish and online banking system already started, there is many kind of card as like Master card, Visa Card ect.

Could be or for those who easily got access with it. Maybe for a country with high technology. But poor countries with a lot of rural areal will never get use to this.

Example is how would you give a beggar money? You will swipe the master card in what? Grin

Agreed, there are few things where only paper money can help and you cannot use bitcoin, there are many people who work on daily wages especially labors we cannot expect them using bitcoin.

the beggar the labors and some other categories cannot accept bitcoin because they are uneducated and cannot understand the technology of bitcoin, but if the governments worked to provide proper training to all the citizens then I think everyone will accept payment in bitcoin, and then the beggars will not need any beg but they will be able to get to do some work for earning.
But still I will say that paper money will have the same value in future as is now.

There is no competition for paper money from bitcoin in future and people will continue to use it in future too as they are more comfortable in using it.

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Quote from: btcltccoins on May 19, 2016, 06:29:52 AM

Quote from: Corenin on May 19, 2016, 06:20:55 AM

Quote from: danherbias07 on May 19, 2016, 05:30:26 AM

Quote from: Marbit on May 19, 2016, 05:20:39 AM

Quote from: mindrust on September 21, 2015, 03:40:32 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.

Day by day the world is going to be part of Digital. As I feel in the digital world paper money is going to vanish and online banking system already started, there is many kind of card as like Master card, Visa Card ect.

Could be or for those who easily got access with it. Maybe for a country with high technology. But poor countries with a lot of rural areal will never get use to this.

Example is how would you give a beggar money? You will swipe the master card in what? Grin

Agreed, there are few things where only paper money can help and you cannot use bitcoin, there are many people who work on daily wages especially labors we cannot expect them using bitcoin.

Exactly, because they( labors) have no little bit knowledge about all coins currencies, most of the labors are uneducated in many countries, if we tell them but they can't use it because they can never understand to use the ways of bitcoins or the other coins. same situation with our farmers, in my country, most of the farmers are uneducated, may be a few member are educated, but they have no interest to use the bitcoins, because they don't know about internet, so in this way, paper money too much easy for that kind of the peoples.

I m agree to your point, where i m living in my country, my farmers and labors are very poor peoples, also they are uneducated, even they don't know about credit and others cards, they are only using paper money. so it can't happened that online currencies damage to paper money.

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Quote from: Corenin on May 19, 2016, 06:20:55 AM

Quote from: danherbias07 on May 19, 2016, 05:30:26 AM

Quote from: Marbit on May 19, 2016, 05:20:39 AM

Quote from: mindrust on September 21, 2015, 03:40:32 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.

Day by day the world is going to be part of Digital. As I feel in the digital world paper money is going to vanish and online banking system already started, there is many kind of card as like Master card, Visa Card ect.

Could be or for those who easily got access with it. Maybe for a country with high technology. But poor countries with a lot of rural areal will never get use to this.

Example is how would you give a beggar money? You will swipe the master card in what? Grin

Agreed, there are few things where only paper money can help and you cannot use bitcoin, there are many people who work on daily wages especially labors we cannot expect them using bitcoin.

the beggar the labors and some other categories cannot accept bitcoin because they are uneducated and cannot understand the technology of bitcoin, but if the governments worked to provide proper training to all the citizens then I think everyone will accept payment in bitcoin, and then the beggars will not need any beg but they will be able to get to do some work for earning.
But still I will say that paper money will have the same value in future as is now.

btcltccoins

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Quote from: Corenin on May 19, 2016, 06:20:55 AM

Quote from: danherbias07 on May 19, 2016, 05:30:26 AM

Quote from: Marbit on May 19, 2016, 05:20:39 AM

Quote from: mindrust on September 21, 2015, 03:40:32 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.

Day by day the world is going to be part of Digital. As I feel in the digital world paper money is going to vanish and online banking system already started, there is many kind of card as like Master card, Visa Card ect.

Could be or for those who easily got access with it. Maybe for a country with high technology. But poor countries with a lot of rural areal will never get use to this.

Example is how would you give a beggar money? You will swipe the master card in what? Grin

Agreed, there are few things where only paper money can help and you cannot use bitcoin, there are many people who work on daily wages especially labors we cannot expect them using bitcoin.

Exactly, because they( labors) have no little bit knowledge about all coins currencies, most of the labors are uneducated in many countries, if we tell them but they can't use it because they can never understand to use the ways of bitcoins or the other coins. same situation with our farmers, in my country, most of the farmers are uneducated, may be a few member are educated, but they have no interest to use the bitcoins, because they don't know about internet, so in this way, paper money too much easy for that kind of the peoples.

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Quote from: danherbias07 on May 19, 2016, 05:30:26 AM

Quote from: Marbit on May 19, 2016, 05:20:39 AM

Quote from: mindrust on September 21, 2015, 03:40:32 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.

Day by day the world is going to be part of Digital. As I feel in the digital world paper money is going to vanish and online banking system already started, there is many kind of card as like Master card, Visa Card ect.

Could be or for those who easily got access with it. Maybe for a country with high technology. But poor countries with a lot of rural areal will never get use to this.

Example is how would you give a beggar money? You will swipe the master card in what? Grin

Agreed, there are few things where only paper money can help and you cannot use bitcoin, there are many people who work on daily wages especially labors we cannot expect them using bitcoin.

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Quote from: Marbit on May 19, 2016, 05:20:39 AM

Quote from: mindrust on September 21, 2015, 03:40:32 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.

Day by day the world is going to be part of Digital. As I feel in the digital world paper money is going to vanish and online banking system already started, there is many kind of card as like Master card, Visa Card ect.

Could be or for those who easily got access with it. Maybe for a country with high technology. But poor countries with a lot of rural areal will never get use to this.

Example is how would you give a beggar money? You will swipe the master card in what? Grin

Marbit

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Quote from: mindrust on September 21, 2015, 03:40:32 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.

Day by day the world is going to be part of Digital. As I feel in the digital world paper money is going to vanish and online banking system already started, there is many kind of card as like Master card, Visa Card ect.

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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?

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.

I do not think that paper money will disappear this quickly because some countries like in Europe have made new bills and stuff. I also think that it is going to be per country and that it will not happen all at once.

Yeah it is not going to disappear this quickly because we have not seen any hints yet of this going to happen. It is also true that this is going to be different per country.
It will not happen to all countries at once, they do not all have the money to do that.

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Quote from: goinmerry on May 19, 2016, 02:10:02 AM

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Quote from: avw1982 on May 15, 2016, 10:32:31 AM

Quote from: Zooplus on May 15, 2016, 03:30:26 AM

I like bitcoins a lot, paper money is very risky especially when bringing it in a dangerous place. I think the world is a better place to live if we all go digital. In that sense we could easily track our expenses and even required the government to give us the information to track public spending.

Even I like so much pal, The future of the paper money is pretty bad because everything is gonna be digital so that is good for the bitcoin but bad for the paper money.

Paper money will never extinguish but the use of it for sure will be decreased in the next years.

I see no decrease even for the next 50 years. Paper money will still prevail and all kinds of transactions are possible in paper money rather by bitcoin which you only have the ability to accessed it by online.

Actually it did decrease a long time ago. Thanks to credit cards. But you still cant erase the fact that it is mostly used. Specially when you are at the poor side or the average ones who cant afford to lose some money through annual fees from credit cards.

I think there's no decreases for paper money and its increasing.. Even if there's a credit cards it can't decrease the amount of paper money because if somebody use credit card to withdraw they need to cashout a paper money.. so i think there's no decreases and banks are generating new paper money every year..

Nice explanation the prodigy and it did cleared to me and understand it concisely.
In short explanation, there is already a sequence for the creation of paper money and it will just continue.

Sorry I didnt explained my side thoroughly. What I mean is the usage. The "dont need to bring paper money" the "card only needed when going to a supermarket" .

Well that would be cashless society if that happens, by just only swiping of our cards, the goods that we bought at supermarket will be paid instantly and no need to punch it all one buy one. We are also near to that scenario.

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