Topic: The future of the paper money - page 276. (Read 416566 times)
It definitely won't survive long at all. There is no real value in the money.
Paper money will stay forever.
Why? Because its easier to make than coins.
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.
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).
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).
the problem is not the "e-money" ... the problem is the QE associate to this.
that's why Bitcoin win at the end.
because QE don't serve people.
bitcoin serve (and save) people.
https://www.youtube.com/watch?v=joITmEr4SjY
that's why Bitcoin win at the end.
because QE don't serve people.
bitcoin serve (and save) people.
https://www.youtube.com/watch?v=joITmEr4SjY
QE is an extreme form of currency debasement. It is tough for governments to have access to easy money and resist the temptation to take it. Currency debasement has existed for centuries.
the problem is not the "e-money" ... the problem is the QE associate to this.
that's why Bitcoin win at the end.
because QE don't serve people.
bitcoin serve (and save) people.
https://www.youtube.com/watch?v=joITmEr4SjY
that's why Bitcoin win at the end.
because QE don't serve people.
bitcoin serve (and save) people.
https://www.youtube.com/watch?v=joITmEr4SjY
The need for e-money is growing. Paper money is oldskool and card payments are slowly taking over. From there wireless payments will take over.
Since bitcoin can be used in both wireless and card payments, a big oppertunity has come. Give if 5 years and we will see major party's getting rid of paper money which is;
expensive to print & store
hard to protect & safeguard
just dirty
Since bitcoin can be used in both wireless and card payments, a big oppertunity has come. Give if 5 years and we will see major party's getting rid of paper money which is;
expensive to print & store
hard to protect & safeguard
just dirty
Cash will be something of the past that only old people use in isolated villages, or maybe weird hipster people (and that's if it doesn't become straight illegal). The rest of the people will be using either centralized e-fiat or Bitcoin.
There will always be psyhical shops and they need a tender, i can't see paper/coin money dissapear.. ever. What i do see is that the amount of transactions with psyhical tender will decrease till less then 1% of all transactions. That day none of us will see though.
I dont even care about taxing it, they could create a legal tender cryptocurrency that would have transaction tax implemented in it, and that would be it.
I am a big proponent of transaction tax, only, and this TX tax would replace all other taxes (income,VAT, property,tariffs,etc.)
A constant 1% tax on every transaction would be a fair tax, and no other taxes. It would be hardcoded into the protocol and the genesis address would be owned by the government.
This would keep politicians happy, and would be significantly better than a 30% income tax. But bitcoin would serve as a tax free commodity to hold your reserve in
I am a big proponent of transaction tax, only, and this TX tax would replace all other taxes (income,VAT, property,tariffs,etc.)
A constant 1% tax on every transaction would be a fair tax, and no other taxes. It would be hardcoded into the protocol and the genesis address would be owned by the government.
This would keep politicians happy, and would be significantly better than a 30% income tax. But bitcoin would serve as a tax free commodity to hold your reserve in
1% tax hard coded into the protocol? I do not think we get that consensus all over the world, even though I think unified tax is better.
They implemented this tax paralell with the other taxes that were already in use, and they didn't decreased any of the taxes.
As for me there is no future in paper money,cause you can`t keep $10k in you pocket.But with btc,you won`t have any troubles.
One hundred years ago, you could not keep $100 in your pocket. Today, you can easily keep $1k in your pocket. In 10 years, you can keep $10 in your pocket easily. Bitcoin is futuristic, You can keep numerious bitcoin in your pocket. It beats all the currencies.
You can keep a billion $ worth of bitcoins in your pocket if its encrypted, and nobody knows its there, because they might try to force you to reveal your password.
It's not the pickpocketing thats the big danger but the extortionists robbers.
Or the government trying to tax the last bit out of your pocket. Everything goes to government eventually.
how can they know about your treasure? the only way is if you convert a portion
then they can ask you if you have more, another way is if you buy somethign every expensive in bitcoin
if you buy small thing here and ther,e there is no way they can ever know about it
True, but what is the point of being a millionaire if you can only buy small things with them?
Imagine that in 10 years, your bitcoin stack is worth a million dollars. Will you really just use it to buy a new computer or new shoes or something?
If you can't use it to buy big things and invest, you aren't really rich. Unfortunately, I don't see any other ways around this but getting taxed. So if your Bitcoins are worth a million, after taxes I have no idea how much they will be.. I assume a lot less. But you will be able to buy a house and rent it, or invest it in something else that gives you more money back. You can't do this with untaxed Bitcoin..
Yes, if my bitcoins or one bitcoin worth one million dollars means I will not work any more. From the bank interest or from lending money I can make a decent living in my country. But I need to take care of taxes which may not allow one million completely with my bitcoin earnings.
I dont even care about taxing it, they could create a legal tender cryptocurrency that would have transaction tax implemented in it, and that would be it.
I am a big proponent of transaction tax, only, and this TX tax would replace all other taxes (income,VAT, property,tariffs,etc.)
A constant 1% tax on every transaction would be a fair tax, and no other taxes. It would be hardcoded into the protocol and the genesis address would be owned by the government.
This would keep politicians happy, and would be significantly better than a 30% income tax. But bitcoin would serve as a tax free commodity to hold your reserve in
I am a big proponent of transaction tax, only, and this TX tax would replace all other taxes (income,VAT, property,tariffs,etc.)
A constant 1% tax on every transaction would be a fair tax, and no other taxes. It would be hardcoded into the protocol and the genesis address would be owned by the government.
This would keep politicians happy, and would be significantly better than a 30% income tax. But bitcoin would serve as a tax free commodity to hold your reserve in
1% tax hard coded into the protocol? I do not think we get that consensus all over the world, even though I think unified tax is better.
As for me there is no future in paper money,cause you can`t keep $10k in you pocket.But with btc,you won`t have any troubles.
One hundred years ago, you could not keep $100 in your pocket. Today, you can easily keep $1k in your pocket. In 10 years, you can keep $10 in your pocket easily. Bitcoin is futuristic, You can keep numerious bitcoin in your pocket. It beats all the currencies.
You can keep a billion $ worth of bitcoins in your pocket if its encrypted, and nobody knows its there, because they might try to force you to reveal your password.
It's not the pickpocketing thats the big danger but the extortionists robbers.
Or the government trying to tax the last bit out of your pocket. Everything goes to government eventually.
how can they know about your treasure? the only way is if you convert a portion
then they can ask you if you have more, another way is if you buy somethign every expensive in bitcoin
if you buy small thing here and ther,e there is no way they can ever know about it
True, but what is the point of being a millionaire if you can only buy small things with them?
Imagine that in 10 years, your bitcoin stack is worth a million dollars. Will you really just use it to buy a new computer or new shoes or something?
If you can't use it to buy big things and invest, you aren't really rich. Unfortunately, I don't see any other ways around this but getting taxed. So if your Bitcoins are worth a million, after taxes I have no idea how much they will be.. I assume a lot less. But you will be able to buy a house and rent it, or invest it in something else that gives you more money back. You can't do this with untaxed Bitcoin..
As for me there is no future in paper money,cause you can`t keep $10k in you pocket.But with btc,you won`t have any troubles.
One hundred years ago, you could not keep $100 in your pocket. Today, you can easily keep $1k in your pocket. In 10 years, you can keep $10 in your pocket easily. Bitcoin is futuristic, You can keep numerious bitcoin in your pocket. It beats all the currencies.
You can keep a billion $ worth of bitcoins in your pocket if its encrypted, and nobody knows its there, because they might try to force you to reveal your password.
It's not the pickpocketing thats the big danger but the extortionists robbers.
Or the government trying to tax the last bit out of your pocket. Everything goes to government eventually.
So, that's why government trying move to cashless money.
So, everyone will keep their money in bank & government will have full control over citizens money.
That's why we don't need paper or coin money & fiat, bitcoin is the only solution.
As for me there is no future in paper money,cause you can`t keep $10k in you pocket.But with btc,you won`t have any troubles.
One hundred years ago, you could not keep $100 in your pocket. Today, you can easily keep $1k in your pocket. In 10 years, you can keep $10 in your pocket easily. Bitcoin is futuristic, You can keep numerious bitcoin in your pocket. It beats all the currencies.
You can keep a billion $ worth of bitcoins in your pocket if its encrypted, and nobody knows its there, because they might try to force you to reveal your password.
It's not the pickpocketing thats the big danger but the extortionists robbers.
Or the government trying to tax the last bit out of your pocket. Everything goes to government eventually.
how can they know about your treasure? the only way is if you convert a portion
then they can ask you if you have more, another way is if you buy something very expensive in bitcoin
if you buy small thing here and ther,e there is no way they can ever know about it
As for me there is no future in paper money,cause you can`t keep $10k in you pocket.But with btc,you won`t have any troubles.
One hundred years ago, you could not keep $100 in your pocket. Today, you can easily keep $1k in your pocket. In 10 years, you can keep $10 in your pocket easily. Bitcoin is futuristic, You can keep numerious bitcoin in your pocket. It beats all the currencies.
You can keep a billion $ worth of bitcoins in your pocket if its encrypted, and nobody knows its there, because they might try to force you to reveal your password.
It's not the pickpocketing thats the big danger but the extortionists robbers.
Or the government trying to tax the last bit out of your pocket. Everything goes to government eventually.
As for me there is no future in paper money,cause you can`t keep $10k in you pocket.But with btc,you won`t have any troubles.
One hundred years ago, you could not keep $100 in your pocket. Today, you can easily keep $1k in your pocket. In 10 years, you can keep $10 in your pocket easily. Bitcoin is futuristic, You can keep numerious bitcoin in your pocket. It beats all the currencies.
You can keep a billion $ worth of bitcoins in your pocket if its encrypted, and nobody knows its there, because they might try to force you to reveal your password.
It's not the pickpocketing thats the big danger but the extortionists robbers.
As for me there is no future in paper money,cause you can`t keep $10k in you pocket.But with btc,you won`t have any troubles.
One hundred years ago, you could not keep $100 in your pocket. Today, you can easily keep $1k in your pocket. In 10 years, you can keep $10 in your pocket easily. Bitcoin is futuristic, You can keep numerious bitcoin in your pocket. It beats all the currencies.
because digital currency is decentralized, the government can get their hands controlling it which makes them quite useless while paper money are easy to track, totally backed by the government so they can do what they want with it: printing, holding, tracking,... If the government decides to incorporate with digital currency, there will be nothing good as they will try to alter it and control it. Furthermore, they still don't really love bitcoin so why the hell do they want to create one and use it? So paper money are still going to be the trend for a while
In your lifetime paper money will exist, there are many countries in the world, where people using mainly only paper money 
Paper money will dissapear over time naturally, but the central banks/govs will still issue whatever currency as they wont want to give all the power and control away. It would be great if bitcoin overtook fiat currencies naturally and people just gradually moved over to that and refused to use any state backed currency.
Jump to: