The future of the paper money - page 279.

jeffthebaker

legendary

Activity: 1526

Merit: 1034

Quote from: cutesakura on October 18, 2015, 06:06:10 PM

For now, the paper money is still the financial needs of the world community, they can not be separated from it, plus the infrastructure of bitcoin that has not been increased and growing, there are still many products - products that are sold in the market, has not received bitcoin as a medium of exchange trade
while there are some laws in some countries that do not acknowledge bitcoin as a medium of exchange trade

Actually, a lot of the world is starting to use paper currency less and less. There are many places in the world that still rely on using paper as a means of currency, but much of the developed world is switching to electronic payment systems over their physical counterparts.

cutesakura

full member

Activity: 158

Merit: 100

For now, the paper money is still the financial needs of the world community, they can not be separated from it, plus the infrastructure of bitcoin that has not been increased and growing, there are still many products - products that are sold in the market, has not received bitcoin as a medium of exchange trade
while there are some laws in some countries that do not acknowledge bitcoin as a medium of exchange trade

bitart

hero member

Activity: 1442

Merit: 629

Vires in Numeris

Quote from: cellard on October 16, 2015, 01:32:55 PM

Did anyone see this yet?

http://timesofindia.indiatimes.com/business/international-business/Sweden-may-become-worlds-first-cashless-nation/articleshow/49419797.cms

"Sweden is on track to becoming the world's first cashless society, thanks to the country's embrace of information technology as well as a crackdown on organized crime and terror, according to a new study. "

So it seems is going to happen and faster than we thought. Interesting times ahead indeed. I wonder if they will wake up from the scam and get on Bitcoin before its too late.

OK but you should know that those people are really special in connection with finance questions. The whole country is well educated in these kind of questions, this is the base of a successfull implementation of the cash free world. Those people (the whole country) are really above the average in connection with responsibility (both the person and society) and it's really uniqe in the EU even in the world.
The rest of the countries are really far away from it yet so don't be afraid to miss this chance.
Sweeden is a really different in this case from other countries. Maybe it would be wise to test them with bitcoin, I would be curious if they accept it easily or not.

cellard

legendary

Activity: 1372

Merit: 1252

Did anyone see this yet?

http://timesofindia.indiatimes.com/business/international-business/Sweden-may-become-worlds-first-cashless-nation/articleshow/49419797.cms

"Sweden is on track to becoming the world's first cashless society, thanks to the country's embrace of information technology as well as a crackdown on organized crime and terror, according to a new study. "

So it seems is going to happen and faster than we thought. Interesting times ahead indeed. I wonder if they will wake up from the scam and get on Bitcoin before its too late.

QUEDOS

newbie

Activity: 37

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?

When gold was unpegged from the major fiat currencies, owning gold was made illegal by law and each person who had gold was required ot turn in their gold for it's cash equivalent, so I could easily see this happening with digital currencies

n2004al

legendary

Activity: 1134

Merit: 1000

Quote from: bitart on October 13, 2015, 05:09:39 PM

If countries wants to ban paper money, people are smart enough to find a workaround solution for it. They can use small golden rings instead of coins and paper money for example, so they will have something phisically to own and they assign value to them in their minds. Gold won't be banned anytime, currencies may change and can be digitalized later on.

So you are telling that if I want to have money without end it is enough to take a piece of paper and draw something on it (for example a house or a tree) and then, give with my mind value to that piece of paper and that's it? I can give that piece of paper the value that I want (for example 100 000 us dollar) and with it in hand by a house? Huh

Very good idea. I haven't thought about this. But I will use it firstly to buy my everyday bread. Then step by step will use it for all my expenses. At the end will put some from this money in a bank (no one know its future). Cheesy

bitart

hero member

Activity: 1442

Merit: 629

Vires in Numeris

If countries wants to ban paper money, people are smart enough to find a workaround solution for it. They can use small golden rings instead of coins and paper money for example, so they will have something phisically to own and they assign value to them in their minds. Gold won't be banned anytime, currencies may change and can be digitalized later on.

TastyChillySauce00

legendary

Activity: 3010

Merit: 1028

Leading Crypto Sports Betting & Casino Platform

just my opinion, people nowadays still worried to use digital money / digital currency , cause of malware , they think digital money will be easily stolen but in fact if they can protect it with 2factor authentication or etc, it will be safe but still have chance to be stolen , and i think, papermoney will be still exist atleast next 30years

n2004al

legendary

Activity: 1134

Merit: 1000

Quote from: StevenLiang on October 11, 2015, 09:32:29 AM

Quote from: n2004al on October 09, 2015, 08:21:49 AM

Quote from: StevenLiang on October 07, 2015, 10:12:46 AM

Yes it is true.

Most of the governments will like to control currency and want to track all the transactions who has done what to protect the system.
So as of now this is not possible in bitcoins because they can only trace the transactions but very difficult to find out who as done the transactions so paper or fiet money will be there 4 eva.

You must know that in any democratic country is not the Government which control the money but the Central Banks of the country. There is a big difference between the control of the money from the Government and the control of those from a Central Bank. Are two subjects (Authorities) completely different with each other.

Goverments in here stand to all aspecs. All Bank or Central Bank surely will follow goverments rules.

We cannot see "goverments" really control currencies. But in "bold line", the one who make paper money and give it to all citizen (people) is the goverments itself, not from Central Bank.

You are in big wrong. The Central Banks have the own rules make from they themselves. They are governed by a Supervisory Council which practically has the power of Government. They approve all the rules about all the "life" within the Central Bank and the rules regarding all the behavior of the commercial banks regarding the money. In few words: everything which has to do with the money of a country regulated and approved only by them.

StevenLiang

full member

Activity: 168

Merit: 100

Quote from: n2004al on October 09, 2015, 08:21:49 AM

Quote from: StevenLiang on October 07, 2015, 10:12:46 AM

Yes it is true.

Most of the governments will like to control currency and want to track all the transactions who has done what to protect the system.
So as of now this is not possible in bitcoins because they can only trace the transactions but very difficult to find out who as done the transactions so paper or fiet money will be there 4 eva.

You must know that in any democratic country is not the Government which control the money but the Central Banks of the country. There is a big difference between the control of the money from the Government and the control of those from a Central Bank. Are two subjects (Authorities) completely different with each other.

Goverments in here stand to all aspecs. All Bank or Central Bank surely will follow goverments rules.

We cannot see "goverments" really control currencies. But in "bold line", the one who make paper money and give it to all citizen (people) is the goverments itself, not from Central Bank.

n2004al

legendary

Activity: 1134

Merit: 1000

Quote from: StevenLiang on October 11, 2015, 03:25:54 AM

I think paper money will remain in future also but there are many chances that their use will be decreased.

Nowdays everyone is using plastic money like debit cards and credit cards so there is less use of traditional paper money.

People are also using more and more online methods for payments of bills and shopping and now due to the introduction of digital money there will be more decrease in the use of paper money but it will remain in the economy.

The decrease of the usage of paper money it is not matter of future. It is happening every day in our days. Especially in every developed country the paper money decreased more and more and are replaced with debit and credit cards. More developed is the country more is decreased the amount of paper money in circulation in that country.

StevenLiang

full member

Activity: 168

Merit: 100

I think paper money will remain in future also but there are many chances that their use will be decreased.

Nowdays everyone is using plastic money like debit cards and credit cards so there is less use of traditional paper money.

People are also using more and more online methods for payments of bills and shopping and now due to the introduction of digital money there will be more decrease in the use of paper money but it will remain in the economy.

qiwoman2

legendary

Activity: 2114

Merit: 1023

Oikos.cash | Decentralized Finance on Tron

In Greece now because of all the tax evasion and corruption that is rife, both among the people and the old government bodies, they are introducing plastic now to pay for a lot of services etc so I think this is a good way to go. Paper money has created too much under the table corruption so I hope that Bitcoin can be another way to generate income for the Government.

pitham1

legendary

Activity: 1232

Merit: 1000

Quote from: Anmol_Verma on October 09, 2015, 09:03:59 PM

There is a lot of paper money in this world and they can't simply ban it so paper money will be same in the future also

Yes, they can.
Do you remember how the Euro was implemented?
Similarly, fiat paper money can be replaced by digital money, if the government has the will.

Anmol_Verma

member

Activity: 112

Merit: 10

There is a lot of paper money in this world and they can't simply ban it so paper money will be same in the future also

neochiny

hero member

Activity: 756

Merit: 503

Crypto.games

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 they did this there will be a wide spread confusion about paper money and digital currency,
and it will have a huge negative effect on their economy, it would take a long time for people
to adopt to the new digital currency completely.

elmar01

member

Activity: 98

Merit: 10

Bitcoin Resale Market - CopyrightXchange.com

Paper money has a long story so it will continue as long as people sees value to it. In my country (PH) only a few percentage knows bitcoin/digital currency because most are used to paper money/coins.

Also digital currency has too many flaws in terms of security, anonymity, etc.

n2004al

legendary

Activity: 1134

Merit: 1000

Quote from: StevenLiang on October 07, 2015, 10:12:46 AM

Yes it is true.

Most of the governments will like to control currency and want to track all the transactions who has done what to protect the system.
So as of now this is not possible in bitcoins because they can only trace the transactions but very difficult to find out who as done the transactions so paper or fiet money will be there 4 eva.

You must know that in any democratic country is not the Government which control the money but the Central Banks of the country. There is a big difference between the control of the money from the Government and the control of those from a Central Bank. Are two subjects (Authorities) completely different with each other.

neonshium

hero member

Activity: 1134

Merit: 515

Quote from: arnav95 on October 07, 2015, 12:47:59 PM

Ooh please do not do this. You must be realistic, there is no danger to the future of paper money, sure for a replacement of paper governments can use plastic, if you think bitcoin would dominate paper money then my friend you are absolutely wrong.

Paper money is going to be always the primary mode for transactions pertaining to day to day dealings.I think paper money has its own relevance all of which will never ever be lifeless. Despite the fact that every individuals are begun utilizing plastic cards, and other advanced electronic payment system, still I believe paper money will have it's significance.

arnav95

newbie

Activity: 56

Merit: 0

Ooh please do not do this. You must be realistic, there is no danger to the future of paper money, sure for a replacement of paper governments can use plastic, if you think bitcoin would dominate paper money then my friend you are absolutely wrong.

Topic: The future of the paper money - page 279. (Read 416598 times)