The future of the paper money - page 266.

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Quote from: chaosknight on March 13, 2016, 02:23:42 PM

Quote from: SquallLeonhart on March 13, 2016, 11:31:40 AM

Quote from: DeDordtenaar on March 13, 2016, 09:18:30 AM

Quote from: 23dzmaz on March 13, 2016, 05:33:32 AM

Quote from: jaysabi on March 12, 2016, 12:26:25 PM

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.

agree. this time not all the places in the world connected to the internet. so digital era can not be implemented at this time of paper money will always be valuable.

Yes just think of poor countries where there is no access to internet and mainly people are paid on daily wages in fiat, so they will only use fiat as they don't have any other option for their spendings.

Agreed, the future of paper money is safe as I don't think that bitcoin can have an impact on it as people will use only those currency that they are comfortable and they will continue to use which is easy for them.

Fiat will always have it's place for the exact reason you detail, people are comfortable with the current system and don't have any intent on changing something that already works well, in their eyes.

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Quote from: SquallLeonhart on March 13, 2016, 11:31:40 AM

Quote from: DeDordtenaar on March 13, 2016, 09:18:30 AM

Quote from: 23dzmaz on March 13, 2016, 05:33:32 AM

Quote from: jaysabi on March 12, 2016, 12:26:25 PM

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.

agree. this time not all the places in the world connected to the internet. so digital era can not be implemented at this time of paper money will always be valuable.

Yes just think of poor countries where there is no access to internet and mainly people are paid on daily wages in fiat, so they will only use fiat as they don't have any other option for their spendings.

Agreed, the future of paper money is safe as I don't think that bitcoin can have an impact on it as people will use only those currency that they are comfortable and they will continue to use which is easy for them.

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Quote from: DeDordtenaar on March 13, 2016, 09:18:30 AM

Quote from: 23dzmaz on March 13, 2016, 05:33:32 AM

Quote from: jaysabi on March 12, 2016, 12:26:25 PM

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.

agree. this time not all the places in the world connected to the internet. so digital era can not be implemented at this time of paper money will always be valuable.

Yes just think of poor countries where there is no access to internet and mainly people are paid on daily wages in fiat, so they will only use fiat as they don't have any other option for their spendings.

DeDordtenaar

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Quote from: 23dzmaz on March 13, 2016, 05:33:32 AM

Quote from: jaysabi on March 12, 2016, 12:26:25 PM

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.

agree. this time not all the places in the world connected to the internet. so digital era can not be implemented at this time of paper money will always be valuable.

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Quote from: 23dzmaz on March 13, 2016, 05:33:32 AM

Quote from: jaysabi on March 12, 2016, 12:26:25 PM

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.

Paper money will never die it will always exist majority of people will continue to use fiat in future too as they find it easy an convenient and using bitcoin is something really complicated for them.

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Quote from: jaysabi on March 12, 2016, 12:26:25 PM

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.

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Quote from: jaysabi on March 12, 2016, 12:26:25 PM

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 think the paper money more easily lost or damaged mate in contrast to digital. I think for the future everyone is using smartphones and connected to the Internet, I think the deal and transaction as it could be done anywhere. seems to have answered your statement

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Quote from: jaysabi on March 12, 2016, 12:26:25 PM

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.

agree. as time goes by technology will be growing rapidly. someone prefers to shop through online rather than buying in the store. This is the earliest evidence right ?

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Quote from: tommorisonwebdesign on March 12, 2016, 02:35:13 PM

Paper money is always going to be needed in the future. Many people still don't even know what a Bitcoin is. In addition, many of the world's economies rely on printing it's own money. What we might see is a state sponsored altcoin to compete with Bitcoin. Banks are not in favor of Bitcoin.

State-controlled crypto defeats the purpose of having crypto. State-controlled electronic money is basically the current system we have, since the vast majority of fiat money exists electronically anyway.

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Quote from: tommorisonwebdesign on March 12, 2016, 02:35:13 PM

Paper money is always going to be needed in the future. Many people still don't even know what a Bitcoin is. In addition, many of the world's economies rely on printing it's own money. What we might see is a state sponsored altcoin to compete with Bitcoin. Banks are not in favor of Bitcoin.

Yes the future of paper money is safe and it don't have any threat from bitcoins even now and not even in future as if you compare the uses of bitcoins with fiat then you can get your answer very easily and its never easy to disappear the paper money so easily.

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Quote from: Denker on March 12, 2016, 10:03:49 AM

Quote from: poptok1 on March 12, 2016, 09:55:50 AM

I think that paper cash will end sooner that we think.
As of today some countries in EU quietly saying about abandoning
paper money. I think i was Sweden and Denmark.
"cashless society" is how they call it
If this work for them, i see no reason other states move in the same direction.
It doesnt mean that fiat is over its just may be the over of "paper"

Yes it's the scandinavian countries Norway and Sweden doing big steps in this direction. Denmark is pretty close to them.
But this is a pure nightmare to be honest. Sure for the banks and governments a dream is coming true.Total control and surveillance.Everyone who tries to move out of line will get cut out from the monetary stream.Suppression couldn't be easier.

Isnt this done in connection to the basic income?
Literally EVERY citizen recieves a basic income, which will guarantee his basic needs.
Everything else is free market, well, free market with regulations.
This would definitely not support BTC in any way.

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Paper money is always going to be needed in the future. Many people still don't even know what a Bitcoin is. In addition, many of the world's economies rely on printing it's own money. What we might see is a state sponsored altcoin to compete with Bitcoin. Banks are not in favor of Bitcoin.

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Quote from: jaysabi on March 12, 2016, 12:42:50 PM

Quote from: jaysabi on March 12, 2016, 12:26:25 PM

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.

Along that line, there would be a strong incentive to be able to hack and manipulate a foreign nation's money supply since they would have no physical currency to fall back on. It would almost guarantee that nations attempt it as an economic warfare contingency.

Well yes but remember most nations have a gold reserve too.

But i feel the need for paper money is ever lasting. I don't see it dissapearing any time soon.
People need fiat since not all shops will accept e-money.

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Quote from: jaysabi on March 12, 2016, 12:26:25 PM

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.

Along that line, there would be a strong incentive to be able to hack and manipulate a foreign nation's money supply since they would have no physical currency to fall back on. It would almost guarantee that nations attempt it as an economic warfare contingency.

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It would be a security concern to only have electronic money. It can be manipulated, or hacked, and will only be as secure as the system designed around it.

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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.

Kingno.1

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If digital currency will completely replace paper money then it will create lot of backlog.
People will have to wait too long for transactions.
We don't have very developed network yet still we face this problem but only on a smaller scale.

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Quote from: Kingno.1 on March 12, 2016, 11:43:14 AM

If digital currency will completely replace paper money then it will create lot of backlog.
People will have to wait too long for transactions.
We don't have very developed network yet still we face this problem but only on a smaller scale.

if people will use credit/debit cards then there are many people who will use only paper money as everyone cannot afford to have credit totally depends on bank procedures, but the majority of the people will continue to use paper money.

Kingno.1

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If digital currency will completely replace paper money then it will create lot of backlog.
People will have to wait too long for transactions.
We don't have very developed network yet still we face this problem but only on a smaller scale.

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Quote from: n0ne on March 12, 2016, 04:26:50 AM

Quote from: DeDordtenaar on March 11, 2016, 11:09:06 AM

Quote from: martinacar on March 11, 2016, 05:17:57 AM

Paper money will of course exist in the future. Many people need it and that is very important for them especially the older people.
But of course it will reduce. But it wont disappear. That is namely very impossible and Bitcoin will be more used in the future.

nope, I think the paper money will begin to disappear with old man who began to disappear as well. we can not ignore this. we have to admit that fewer people use paper money

What you have quoted is not true. Though bitcoin is used by most of the users paper money will be accepted and will be circulated without limitation in issue of paper money.

it is only my thoughts and predictions. You've seen a lot of people prefer to use a debit card rather than paper money, you might often see it when going shopping in the mall right ? Cheesy

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