The future of the paper money - page 258.

Yakamoto

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Quote from: Mr. Big on March 26, 2016, 11:05:07 PM

Quote from: rio3233 on March 26, 2016, 08:38:28 PM

I think the paper money will survive for sure. I mean not all place can use digital currency like bitcoin. It's hard to change people culture to use paper money into digital money.

You have a point..Yeah, even this days there are still those cultural minorities who even don't have the idea what is a computer.. Most of them are still using those metal coins...When they have a paper money, it is already has a big value to them.. even if it is only in 2 digits..what about bitcoin? I don't know how they will understand those .000 or even if we convert it to satoshis of 1000, that is still hard.. so I think paper money would still be living a long life..

I highly, highly doubt a majority of the population would actually be behind moving towards a completely cashless society. There will always be paper money for at least another few decades (maybe centuries), before humanity gets super-advanced and starts expanding beyond Earth.

I'm confident we won't see a move towards a completely cashless society in the next few years, but stuff can always change.

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Quote from: rio3233 on March 26, 2016, 08:38:28 PM

I think the paper money will survive for sure. I mean not all place can use digital currency like bitcoin. It's hard to change people culture to use paper money into digital money.

You have a point..Yeah, even this days there are still those cultural minorities who even don't have the idea what is a computer.. Most of them are still using those metal coins...When they have a paper money, it is already has a big value to them.. even if it is only in 2 digits..what about bitcoin? I don't know how they will understand those .000 or even if we convert it to satoshis of 1000, that is still hard.. so I think paper money would still be living a long life..

rio3233

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I think the paper money will survive for sure. I mean not all place can use digital currency like bitcoin. It's hard to change people culture to use paper money into digital money.

richardsNY

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Quote from: jaysabi on March 26, 2016, 02:17:51 PM

Quote from: MedaR on March 25, 2016, 01:11:35 PM

It is only a matter of time when will first blockchain be used in bank systems. Thay are smart people and they will find their ways to reduce influence of bitcoin, this is certain. Nobody will watch this rise without interfering. This leads us to regulations and this is way of accepting of bitcoin so we all must vote for regulations..

If block chain technology is used by a financial institution, it is likely to be a private chain, not a public chain like Bitcoin. People seem to think Eth will be used, but I don't see it happening. Eth is a bubble right now because of blind optimism.

Banks and governments won't use any of the currently existing blockchains as that goes against their policy and way of keeping tight control over every sort of transaction. It's all about money. They can lose billions in fees and revenue every year if they have the Bitcoin blockchain as their main chain. Would you be willing to lose billions in revenue? I don't think so. They will use their own version of the blockchain.

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If you read history, we go through these cycles. Paper money and hard backed money go through cycles, taking their turns as the dominant form of money. Never before have we existed this long on a paper fiat system. Hard money, whether through a basket of commodities or some other form will become our form of money again. The question is when?

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Quote from: MedaR on March 25, 2016, 01:11:35 PM

It is only a matter of time when will first blockchain be used in bank systems. Thay are smart people and they will find their ways to reduce influence of bitcoin, this is certain. Nobody will watch this rise without interfering. This leads us to regulations and this is way of accepting of bitcoin so we all must vote for regulations..

If block chain technology is used by a financial institution, it is likely to be a private chain, not a public chain like Bitcoin. People seem to think Eth will be used, but I don't see it happening. Eth is a bubble right now because of blind optimism.

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Quote from: KennyR on March 25, 2016, 10:16:39 AM

Quote from: jaysabi on March 24, 2016, 11:02:35 PM

Quote from: MedaR on March 24, 2016, 01:03:53 PM

Quote from: FabioDelcatto on March 24, 2016, 12:54:43 PM

Paper money is now many used. And that will not change later. I also know that Bitcoin will be more used now in the future.
But many people need also their paper money, because some people dont even know what Bitcoin do, so first we must promote Bitcoin.

Bitcoin is very far from this to become danger to system.
Best he can is to kill Paypal Cheesy

but, soon as he finished his new threat for bitcoin will show up very soon.
This is good if we want some progress. We all know that many ideas from alts can be used and with bitcoins..

Bitcoin will always be a compliment to the traditional banking system, never a replacement. The main reason is that People don't treat it like a currency but a speculative asset.

This compliment would make the advancement in the banking system. Bitcoin has been considered as a speculative asset but now its been growing as a alternate currency.

Not so much. Any place it is used by merchants, it is not held by them after the transaction. They use a payment processor who immediately converts to fiat. Its use as a currency is greatly overstated, and its utility as a currency is very small because it is not a stable store of value.

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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?

i think that it is pretty easy to understand that in future there will be less and less paper money in use, while everyone use credit cards or even bitcoin, of course they still will be in use, but not that often as today

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Quote from: danherbias07 on March 26, 2016, 12:58:44 AM

Quote from: GamingBro on March 25, 2016, 12:28:51 PM

Paper money will not dissapear soon, maybe it will be replaced by smth else similar to paper but not disapear im sure about it. Always need a thing to show.

That is what I am trying to say also. You wont take paper money out just like that. You will need the power of the government plus the power the people.

I think fiat or bank will not replace paper money system with the old system of course they will make a nicer version of the paper money
because many people have had to say that paper money perishable, easily lost and easily stolen. in the future Fiat will renew it. I am sure of it

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Quote from: Mr. Big on March 26, 2016, 04:59:17 AM

Quote from: nostal02 on March 26, 2016, 02:47:31 AM

Well with the government they wont allow it,they wont accept if their national currency will be replace by a crypto currency,this will have a huge debate on their law makers.

Why not? what if bitcoin could boost their economy? The only thing I see why government won't allow their paper money is that they have no control over bitcoin..

And that's exactly the case! Controlling everything they have their part from everything, that's why they want to be the government in the first place(not all of them but the most part).

So there are two ways for Bitcoin to be accepted by governments:

1. They will find a way to controll it

2. They will find a way to have a profit without controlling it

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Quote from: GamingBro on March 25, 2016, 12:28:51 PM

Paper money will not dissapear soon, maybe it will be replaced by smth else similar to paper but not disapear im sure about it. Always need a thing to show.

I would think that the fiat will issue a version other than banknotes. However paper money can be easily damaged. and may fiat will update with new system

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Quote from: nostal02 on March 26, 2016, 02:47:31 AM

Well with the government they wont allow it,they wont accept if their national currency will be replace by a crypto currency,this will have a huge debate on their law makers.

Why not? what if bitcoin could boost their economy? The only thing I see why government won't allow their paper money is that they have no control over bitcoin..

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Quote from: danherbias07 on March 26, 2016, 12:58:44 AM

Quote from: GamingBro on March 25, 2016, 12:28:51 PM

Paper money will not dissapear soon, maybe it will be replaced by smth else similar to paper but not disapear im sure about it. Always need a thing to show.

That is what I am trying to say also. You wont take paper money out just like that. You will need the power of the government plus the power the people.

Well with the government they wont allow it,they wont accept if their national currency will be replace by a crypto currency,this will have a huge debate on their law makers.

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Quote from: GamingBro on March 25, 2016, 12:28:51 PM

Paper money will not dissapear soon, maybe it will be replaced by smth else similar to paper but not disapear im sure about it. Always need a thing to show.

That is what I am trying to say also. You wont take paper money out just like that. You will need the power of the government plus the power the people.

avw1982

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Quote from: knowhow on March 25, 2016, 10:52:17 PM

Well i doubt bitcoin will be printed as paper,or coins,to colect sure there are some already,and just.Fiat will move to digital its a question of time till that happen,mark 25 years to printed money stop,atleast it should .

i think paper money will never replaced. because paper money has been there since long ago
and to replace paper money requires a very long time, because we had to change habits.

knowhow

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Well i doubt bitcoin will be printed as paper,or coins,to colect sure there are some already,and just.Fiat will move to digital its a question of time till that happen,mark 25 years to printed money stop,atleast it should .

Pab

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Paper money will stay for long long time now even in Sweden people want paper money comeback
Many people in the world are getting pay in paper money Banks will like to move everything to virtual
but it will not happen better ask when bitcoin will be issued in paper

luciann

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Intially the value of paper money falls off at a certain point.

But the question is when? lol. I mean we might not even live to see around to see it die.. thats the sad truth.

JosNekoKopa

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Paper money is in use for a very long time so this transaction to btc or something different will be very painful so you must expect great resistance, old habits..Paper money is actually good for small people, if you are poor or don't have money in bank account..

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Quote from: terapia on March 25, 2016, 01:13:13 PM

Paper money will be replaced over the next years,it will become digital ,but well it will take some years till that happen but be sure we are moving into the digital era.

Meh it won't happen that fast.
Paper money will be around us for a few more decades I believe.
That doesn't mean it will still be pure backed by nothing fiat money.
I believe the next monetary system will be again money back by something.Question is just what will back it.

Topic: The future of the paper money - page 258. (Read 416566 times)