The future of the paper money - page 275.

Amph

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Quote from: ruggedman_dan on November 21, 2015, 07:59:12 AM

I don't think paper money will be banned, I think each 'concept of money' can coexist with no problem.

it would be fun to have some government bannind them and other no, so you can always exchange for cash if you go abroad

i'm very in doubt that cash will be banned in every part of the world, there is heavy mafia running in some country, they will not let it happen...

pitham1

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Quote from: ruggedman_dan on November 21, 2015, 07:59:12 AM

I don't think paper money will be banned, I think each 'concept of money' can coexist with no problem.

Unless you become technologically obsolete.
For example: Rai Stones Tongue

umaOuma

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Quote from: Digit-0 on November 21, 2015, 07:49:11 AM

Quote from: AsaroUk on November 18, 2015, 11:25:09 AM

It will take years and years for paper money to be banned and for digital currency to take over.

The risk of this will be hackers, there's a bunch out there and it's not completely save.

Believe me, there is more "hackers" working with paper money, fiat, than with digital currencies, from my point of view we will be more safe with crypto than with all those fiat guys....

Ofc new "ways" to do "the same" will come, but it will not be as worst as now with fiat money.

I believe that paper money will exist for so many years, I don't see any replacement for paper money in the coming years, If we talk about cryptos then they will be more popular in coming years but I don't think that it can replace paper currency as the market cap of paper currency is very high and there are users who will never leave paper currency.

ruggedman_dan

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I don't think paper money will be banned, I think each 'concept of money' can coexist with no problem.

zencomp

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when ever new thing is applied old has to banish, in the century before barting system was done for trading, then they introduced coins then gold silver, then came paper currency, and then came online marketing business, ecommerce, online banking, and now bitcoin so when ever new comes old has to go. so when bitcoin becomes mode of payment paper money will become antique

Digit-0

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Quote from: AsaroUk on November 18, 2015, 11:25:09 AM

It will take years and years for paper money to be banned and for digital currency to take over.

The risk of this will be hackers, there's a bunch out there and it's not completely save.

Believe me, there is more "hackers" working with paper money, fiat, than with digital currencies, from my point of view we will be more safe with crypto than with all those fiat guys....

Ofc new "ways" to do "the same" will come, but it will not be as worst as now with fiat money.

pitham1

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Quote from: acroman08 on November 20, 2015, 10:23:14 AM

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?

banning paper money entirely is a bad idea, and many people who dont know what digital currency will have a
hard time trusting it, even those who knows what digital currency still having a hard time accepting it.

If you ban paper money, it just means that people will use only credit and debit cards. It doesn't mean that you shift to cryptocurrencies.
Cash payments in France have already been limited to 1,000 EUR.
http://www.french-property.com/news/money_france/cash_payments_limits

acroman08

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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?

banning paper money entirely is a bad idea, and many people who dont know what digital currency will have a
hard time trusting it, even those who knows what digital currency still having a hard time accepting it.

bitart

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Quote from: botany on November 19, 2015, 12:32:21 PM

Quote from: mouneshwar123 on November 19, 2015, 05:46:15 AM

Paper money won't exist in the future. But it will not happen in the next two or three decades. It will take time for the governments to adopt a digital currency. There will be issues regarding single person holding multiple anonymous wallets, wallet security etc.,

We have coins now, although paper money is far more convenient.
Coins haven't really been wiped out and exist side by side with paper money.
So to think about paper money not existing in the future is a bit extreme.

Paper money will exist but people won't use it as heavily as nowdays. Today many of my friends select shops or merchants based on the information if they're accepting contactless bank cards or not. People started to carry less and less cash and withdrawal from ATM became expensive, so why not to pay with card if it's possible, easy and quick (PayPass)
Today you can choose if you want to carry coins or paper money if you don't want to use bank card. If you want to do the weekend shopping, you can choose to carry coins (that amount will be heavy enough

) or paper money or bank card (or voucher, loyality cards, etc) but less and less people pays with cash.
The important thing is the ability to choose how we can carry our money with us, and in the future less and less people will choose physical money instead of digital

botany

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Quote from: mouneshwar123 on November 19, 2015, 05:46:15 AM

Paper money won't exist in the future. But it will not happen in the next two or three decades. It will take time for the governments to adopt a digital currency. There will be issues regarding single person holding multiple anonymous wallets, wallet security etc.,

We have coins now, although paper money is far more convenient.
Coins haven't really been wiped out and exist side by side with paper money.
So to think about paper money not existing in the future is a bit extreme.

mouneshwar123

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Paper money won't exist in the future. But it will not happen in the next two or three decades. It will take time for the governments to adopt a digital currency. There will be issues regarding single person holding multiple anonymous wallets, wallet security etc.,

CryptoBjorn

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Quote from: Huobi-USD on September 21, 2015, 02:23:32 AM

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 money maybe it will be banned, but i dont think so it will happend when people don't use anymore. (more & more people don't use cash anymore so yeah)

* Maybe 5 or 10 years maybe 25% of 100% people will use cash and in 20 years I think no will use it. (It depends in poor country)

* Would it work.. mmm yes I think so. But the only concern is how save would it be.

* Well I am still afraid if something happend to my Bitcoin Wallet so I don't know. But in the bank I am not that afraid that I lose money is just they can see andcontrol.

* Wil bitcoin private is not a issue. But if it is the bank than I don't know they can control.

neurotypical

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http://dcebrief.com/apple-ceo-tim-cook-your-kids-will-not-know-what-money-is/

Apple CEO just said that "our kids will not know what money is". Of course it turns he meant paper money. So that's the idea basically, everyone is pushing into a future where physical cash is just not there, therefore, our only hope to not become victims of the biggest surveillance state we've ever seen is Bitcoin.

AsaroUk

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It will take years and years for paper money to be banned and for digital currency to take over.

The risk of this will be hackers, there's a bunch out there and it's not completely save.

makcik

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Paper money, also called fiat currency or simply cash is a mode of payment since ancient times and is still being used in many countries.
As far as I can see, future of paper money is hell dark.. Technology is advancing, people prefer wireless things now, and thats the reason why people are liking bitcoins this much..
The reasons behind darkness for paper currencies is its failure of availness at every place and need of physical contact. Though there are banks but they are hell slow and still you will have to visit bank for them..
These disadvantages make it a thumb down for future.

LuckyYOU

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Quote from: avw1982 on November 17, 2015, 01:39:11 PM

Quote from: Possum577 on November 17, 2015, 01:16:16 AM

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

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

Agreed. BUT if Governments decide to end their paper format of currency Bitcoin will fill in the void of the anonymous currency.

Paying with cash is easy and anonymous...without it Bitcoin would thrive much faster.

But Bitcoin is can make any transaction in a fraction of second from wallet to wallet easily. you can make online transaction also fraction Now Cheapair.com is accepting for Flight ticketing and Many website are BTC now. In future Sure Online shopping will accept BTC. then move up happily and fast.

With more and more companies starting to adopt Bitcoin, we will see bitcoin gaining more popularity. Eventually it Bitcoin will take over.

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Quote from: Meuh6879 on November 16, 2015, 08:23:17 PM

and that's why war exist ... since this process.
we can stop this on this decade with a massive adoption in a trusted network solution.
network controlled by people and not by corporation.

P2P solution have already resolve many problem in file transfer and resistance to age (freenet, emule, torrent).

Exactly, that is what Governements don't want. They want and need to monitor people and companies. Why don't you think any country is adopting bitcoin, or launch their own crypto currency...

The network, the control will be gone. Applying taxes will cost more time to conduct and even with the best manpower they will never catch the anon experts, since that is the main benefit of bitcoin/crypto currency's in general.

avw1982

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Quote from: Possum577 on November 17, 2015, 01:16:16 AM

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

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

Agreed. BUT if Governments decide to end their paper format of currency Bitcoin will fill in the void of the anonymous currency.

Paying with cash is easy and anonymous...without it Bitcoin would thrive much faster.

But Bitcoin is can make any transaction in a fraction of second from wallet to wallet easily. you can make online transaction also fraction Now Cheapair.com is accepting for Flight ticketing and Many website are BTC now. In future Sure Online shopping will accept BTC. then move up happily and fast.

MaxTax

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I don't think paper money will ever get banned. At least not worldwide, it really depends on the country you're living in.

If paper money will get banned, a lot of companies will go bankrupt, people will lose their jobs etc.

Xeelee

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There is no future. Every paper money system was collapsing after some time. The same will happen again. It's just a matter of time. I own also gold and silver in addition to bitcoin and altcoins.

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