The future of the paper money - page 260.

BruceLee007

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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?

i don't think that paper money will be banned, but everything leads to virtual money/bitcoin in future, because much easier to use

and i think that it will be hard to use them at first, but after some years people will happy to use them

shintosai

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lots of possibility that paper money will be removed because of things that is happening right now, many company already adopting crypto currency, credit card and lots of other ways to do bussiness but the question is how safe we are if we are not holding it physically? I don't want to see my grand son just ask me to have his/her own cc to candies, I still want paper money to exist just how we used it today.

knowhow

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Bitcoin wont change the paper money,the world will advance into the next generation becoming full digital all the transactions that are made with fiat paper.

YoonYeonghwa

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Even if paper money disappears, it still won't be for a very long time. It won't happen for a long time, because the government will be able to control fiat currency much easier, so bitcoin won't replace it very soon.

Erzatium

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Quote from: italianobitcoin on March 23, 2016, 04:09:39 PM

I hope the paper money still exist in about 20 years but I highly doubt it if I'm honest so that is the question.
Maybe it will fully disappear because everything is gonna be digital.

I do not think it will because indeed the whole world is gonna be digital, I think the bitcoin will take over the world.
The bitcoin is the future of all currency's globally.

bakingbad

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Quote from: martinacar on March 23, 2016, 03:43:39 PM

The paper money will disappear on some point, I'm pretty sure of it because the fact is that paper money is not the future anymore.
The world is getting more digital by day so this is why its all gonna change.

i doubt that paper money will go completely extinct because some people will still want to use it and decide not to go with bitcoins

though i think that popularity of it will decrease significantly as people will start using it less and less because of adopting bitcoin

italianobitcoin

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I hope the paper money still exist in about 20 years but I highly doubt it if I'm honest so that is the question.
Maybe it will fully disappear because everything is gonna be digital.

martinacar

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The paper money will disappear on some point, I'm pretty sure of it because the fact is that paper money is not the future anymore.
The world is getting more digital by day so this is why its all gonna change.

techgeek

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Quote from: simonloff on March 23, 2016, 08:53:14 AM

I don't think "banned" is an appropriate word, I think paper money will disappear only when people deem it unnecessary i.e when people feel they are already over it, The same happened to golden coins when they where the accepted currency "Although no government is forcing people right now".

Only time will tell those scenarios.

And thats something that no one has since our life span events can change within our life span.

What the people need to see is a form of trust which facilities the bitcoin to those dont want to bother with the education behind it.

7Priest7

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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?

Paper momey won't be banned for next 50 years for sure, people won't change to bitcoin so fast it will take time, i think that in future bitcoin will be alternative currency but not main one

Crazygreek

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Paper money is really good for real life and also good for fair deals. I think cash will exist always in different forms but it will never die.

jkrules

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Quote from: MedaR on March 23, 2016, 12:49:08 PM

Quote from: Maxsumi on March 23, 2016, 07:34:08 AM

Paper money will of course disappear in the future.

I don't understand this topic, paper money already disappearing how many transactions are done via banking services, and you don't even need to have money in hand it is much easier to have Visa or Master..
Bitcoin is different story, decentralized digital money, with small transaction fee and have use on net already
but his enemy is not paper money, but banks, they are!

I too heard this before that paper money will be replaced by some other form of money or something people use to buy stuffs.

MedaR

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Quote from: Maxsumi on March 23, 2016, 07:34:08 AM

Paper money will of course disappear in the future.

I don't understand this topic, paper money already disappearing how many transactions are done via banking services, and you don't even need to have money in hand it is much easier to have Visa or Master..
Bitcoin is different story, decentralized digital money, with small transaction fee and have use on net already
but his enemy is not paper money, but banks, they are!

Nimbulan

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Quote from: Lokfar on March 23, 2016, 10:37:14 AM

Quote from: diegz on March 22, 2016, 08:45:32 AM

Quote from: Viakor on March 22, 2016, 08:16:17 AM

I think paper money will dissappear. this will happen because it´s more modern and easier for the government and the people to control.
but it wont be so soon.

.

Your idea is possible that paper money would be gone, but I think its value would still be the same and probably be called as it was when it was still a paper..But really,it would take a long time before it happens..

No that can not happen. A lot of people need some paper money. So that is very good. Because they dont know how to use Bitcoin.
You can talk about it when Bitcoin is more popular and more acceptable later in the future.

thats not true bitcoins wallet are really easy to use to be honest and requires nearly no knowledge about how bitcoins work

also in order to use it you just need to scan a qr code with your mobile phone and thats it, i believe that in the future bitcoin will make paper money extinct

Lokfar

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Quote from: diegz on March 22, 2016, 08:45:32 AM

Quote from: Viakor on March 22, 2016, 08:16:17 AM

I think paper money will dissappear. this will happen because it´s more modern and easier for the government and the people to control.
but it wont be so soon.

.

Your idea is possible that paper money would be gone, but I think its value would still be the same and probably be called as it was when it was still a paper..But really,it would take a long time before it happens..

No that can not happen. A lot of people need some paper money. So that is very good. Because they dont know how to use Bitcoin.
You can talk about it when Bitcoin is more popular and more acceptable later in the future.

BitMaxz

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Quote from: simonloff on March 23, 2016, 08:53:14 AM

I don't think "banned" is an appropriate word, I think paper money will disappear only when people deem it unnecessary i.e when people feel they are already over it, The same happened to golden coins when they where the accepted currency "Although no government is forcing people right now".

There's no chance that paper money will be replace or banned.. because more people are ignorance about currency online so its impossible..
Digital currency is digital currency we can not change the truth..

simonloff

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I don't think "banned" is an appropriate word, I think paper money will disappear only when people deem it unnecessary i.e when people feel they are already over it, The same happened to golden coins when they where the accepted currency "Although no government is forcing people right now".

sachung

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Quote from: Viakor on March 22, 2016, 08:16:17 AM

I think paper money will dissappear. this will happen because it´s more modern and easier for the government and the people to control.
but it wont be so soon.

I don't think this will happen anytime soon IMO, although electronic money like CC, DC, PayPal and bitcoin are taking a stronger position it's still far from talking about paper money not existing at all.

Slark

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Quote from: n0ne on March 22, 2016, 10:02:35 AM

Quote from: diegz on March 22, 2016, 08:45:32 AM

Quote from: Viakor on March 22, 2016, 08:16:17 AM

I think paper money will dissappear. this will happen because it´s more modern and easier for the government and the people to control.
but it wont be so soon.

.

Your idea is possible that paper money would be gone, but I think its value would still be the same and probably be called as it was when it was still a paper..But really,it would take a long time before it happens..

Paper Money will never disappear. Its been discovered long years ago and still in use. Without paper money nothing would function. So believe that paper money would never fade off in the future.

For now I agree. Paper money are so deeply rooted in our minds and tradition that there is no way this fact is gonna change anytime soon.
However, in near future some more developed nations where internet and smartphones will be dominating this could change.
I heard some news about Sweden couple years back - they wanted to get rid of paper money and only keep digital currency like credit cards.
Some countries are even working on creating their own version of cryptocurrency - Australia for example. There maybe many more.

n0ne

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Quote from: Maxsumi on March 23, 2016, 07:34:08 AM

Paper money will of course disappear in the future. But it need time and we have to wait to let that happen.
We all know that the value will be more worth and that we can sell it later with some good profit, It will be also more used, the world is becoming modern.

Never such incident will take place, as all bitcoin users will be users of paper money, and not all paper money users will be bitcoin users. So we can see a increased usage of paper money than bitcoin.

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