The future of the paper money - page 26.

ororch

newbie

Activity: 46

Merit: 0

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?

If you ask people who actually print the money, does not care about their prospect of a cashless future, they answer: not at all. "In truth, looking at a steady increase in cash turnover, we do not expect that cash will disappear in the near future - and even not the closest," says Eric Ziegler of Crane Currency's design and manufacturing company.

suvo05

sr. member

Activity: 1162

Merit: 260

When we are all concern about the misuse of bitcoin by terror funding, the paper money itself have a great problem and the problem is fake notes, though technology have grown so much, but there are lots of country where fake currency is a big problem. And this fake currency not only destroys economy is also used for many illegal work like terror funding. This is the major draw back of paper money.
Still I think paper money will not vanish totally as it is the simplest to use and no internet or electricity need. But it is obvious that the use of paper money will decrease gradually.

altcointalk14

sr. member

Activity: 751

Merit: 253

Quote from: Osarman on January 13, 2018, 01:21:03 AM

Quote from: Farvin2 on January 06, 2018, 11:36:42 PM

In the future all will gonna be digital, and it is pretty bad for paper money.
But not now because still a lot of people who are not that intellectual to using digital thing even many poor countries still do not have internet access.

It is really very much difficult to comment on this thing right now. The most important thing which will count the most in this aspect will be the recognition of the crypto currencies as legal currency.

If there comes a time that all the crypto currencies which are there in the present world gets legal, then there are chances that use of paper money will be greatly reduced. The modern world will switch over digital money.

Paper money loses its value quickly because of the possibility for central banks to print paper without having to coverage something. This makes people spend the "bad" paper money and save the "good" bitcoin.Under this scheme, paper money diminishes

Osarman

hero member

Activity: 952

Merit: 503

Quote from: Farvin2 on January 06, 2018, 11:36:42 PM

In the future all will gonna be digital, and it is pretty bad for paper money.
But not now because still a lot of people who are not that intellectual to using digital thing even many poor countries still do not have internet access.

It is really very much difficult to comment on this thing right now. The most important thing which will count the most in this aspect will be the recognition of the crypto currencies as legal currency.

If there comes a time that all the crypto currencies which are there in the present world gets legal, then there are chances that use of paper money will be greatly reduced. The modern world will switch over digital money.

RicardoRicky

newbie

Activity: 73

Merit: 0

I think paper money is in recent years its use is reduced because of the technique or new payment option in non-cash, digital, virtual and e-money is very practical, easy and effective to do. so if this non-cash usage is evenly distributed in every country I think paper money will only be around 30% of the total.

juki35man

newbie

Activity: 86

Merit: 0

Nobody really like to carry those currencies and coins in their pockets. It ain't that safe, many will debate about carrying credit cards, even then at some point we will have to withdraw or pay our bills with cash. But if digital currencies come into existence there wont be any hassle. Cool

Vikingr

hero member

Activity: 798

Merit: 500

Quote from: asexypotato on January 11, 2018, 11:53:45 PM

Paper money is disappearing, thankfully, we do have the technology and capability to create more secure and paperless transactions, also crime would go down in an alarming rate, another type of criminals would rise too but anyways the entire world could be a safer place

It is really very much difficult to predict the future of paper money at the very present time. It is because of the fact that still people do believe in paper money and other than this, none of the crypto currency has been declared as legal currency so far. Till that time, there will remain the existence of paper money in this world but after that, things will be changed very much significantly.

aznboy84

full member

Activity: 137

Merit: 100

Paper money is never going to disappear, at least, not for now when are the regulations are trying to do not make it happen. But who knows, maybe in a near future everybody will switch to digital money like cryptos.

Tukang Becak

hero member

Activity: 896

Merit: 500

I estimate that the fate of paper money immediately follows products that use paper such as magazines, newspapers, books and so on, the presence of cryptocurrency and digital money will make paper money disappear soon.

santieevanz

full member

Activity: 238

Merit: 100

In my opinion, I don’t think that the government of each country will allow the plan or solution of Andre Haldane because in every country, controlling the currency should be done in order to control the economy. Protecting and improving the economy of one country are the governments concern and it will be difficult to come up with a thumbs up or agreement regarding digital currency and paper money.

ocid

sr. member

Activity: 588

Merit: 256

Quote from: edward222 on September 21, 2015, 03:24:40 AM

Paper money will stay forever.
Why? Because its easier to make than coins.

Yes,is true
the future of paper money will remain secure and will not be jeopardized by any altcoin because paper money is very easy to use in the transaction process by any circle, and paper money can be used anywhere where and whenever we do not need to look for special outlets to use it. so it is very easy for everyone to make transactions or meet the needs of his life.

mbluxs

sr. member

Activity: 938

Merit: 250

Quote from: goldcoinminer on January 12, 2018, 01:37:05 AM

Quote from: asexypotato on January 11, 2018, 11:53:45 PM

Paper money is disappearing, thankfully, we do have the technology and capability to create more secure and paperless transactions, also crime would go down in an alarming rate, another type of criminals would rise too but anyways the entire world could be a safer place

I don't think it's disappearing, still paper money is very useful in this world and it will never happen that it will disappear.
The trend is online transaction but it's good to see we are given different options so can transaction online and offline and this will serve people
with different purpose.

That's right. paper money will not go away just for the greatest possible payment will be no choice. virtual money or paper money. all of that goes back to each individual

goldcoinminer

hero member

Activity: 952

Merit: 500

Quote from: asexypotato on January 11, 2018, 11:53:45 PM

Paper money is disappearing, thankfully, we do have the technology and capability to create more secure and paperless transactions, also crime would go down in an alarming rate, another type of criminals would rise too but anyways the entire world could be a safer place

I don't think it's disappearing, still paper money is very useful in this world and it will never happen that it will disappear.
The trend is online transaction but it's good to see we are given different options so can transaction online and offline and this will serve people
with different purpose.

asexypotato

jr. member

Activity: 48

Merit: 10

Paper money is disappearing, thankfully, we do have the technology and capability to create more secure and paperless transactions, also crime would go down in an alarming rate, another type of criminals would rise too but anyways the entire world could be a safer place

BILGPS

full member

Activity: 378

Merit: 100

With the passage of time the bitcoin is increasing day by day so as a result the use of paper money is decreasing and we have to be worry about the future of the paper money. It is good to be the digital world then the outsiders will not be involved for any thing but the paper money can not be diminished from the earth. for those who have no idea of the digital money they will still use the paper money and the world with out paper money is not possible.

zeaderza

hero member

Activity: 896

Merit: 502

Quote from: Bondho Kompeni on January 08, 2018, 06:45:26 PM

All things related to the paper will disappear, magazines, newspapers, books and so have disappeared and no more than 20 years from now paper money will disappear.

The way technology is developing and making advancements, it would not remain anymore a dream of illusion to go cashless completely. Paper money is already replaced by plastic money to very extent. It is true that we have been using it for centuries but now paper money is not able to meet the demands of current era where everything is so fast. Things need to be done within seconds. Fats transactions are not possible with cash.

Good tbc

member

Activity: 115

Merit: 10

The future of paper money can not be determine by the current rate of the paper money in use or demanded for. The digital currency have come to ease and help humans from poverty. Other transactions are carried out without necessary using paper money.The use of paper money may reduce but does not indicates its total removal from circulation in the future.

FLoving

hero member

Activity: 1022

Merit: 521

Quote from: neerv on January 10, 2018, 09:25:34 PM

To me, this is not even a question. Paper money has already started dying and has no future. Even if we let aside cryptocurrencies, even the regular fiat has come into the digital mode entirely, with mobile app wallets making the transaction of money a lot easier compared to paper money transactions!

The market of paper money has been adversely affected and that is only because of the introduction of digital currencies. If all the crypto currencies which are there in the modern world gets legalized, then there are chances that the existence of paper money remains no more. Most of the people amongst us will go for using crypto currencies instead of paper money.

readygoaw

full member

Activity: 476

Merit: 105

Quote from: neerv on January 10, 2018, 09:25:34 PM

To me, this is not even a question. Paper money has already started dying and has no future. Even if we let aside cryptocurrencies, even the regular fiat has come into the digital mode entirely, with mobile app wallets making the transaction of money a lot easier compared to paper money transactions!

Now paper money is needed. Many countries are very undeveloped and can not refuse them. But I'm sure there will be much less paper money in the future.

readygoaw

full member

Activity: 476

Merit: 105

Quote from: neerv on January 10, 2018, 09:25:34 PM

To me, this is not even a question. Paper money has already started dying and has no future. Even if we let aside cryptocurrencies, even the regular fiat has come into the digital mode entirely, with mobile app wallets making the transaction of money a lot easier compared to paper money transactions!

Now paper money is needed. Many countries are very undeveloped and can not refuse them. But I'm sure there will be much less paper money in the future.

Topic: The future of the paper money - page 26. (Read 416603 times)