Topic: The future of the paper money - page 283. (Read 416598 times)

That's hardly possible, unless the demand for cash from general public somehow fizzles out completely. If some government decides to squeeze cash out of circulation (despite the existing demand), people will find a substitute. It may be a foreign currency, or the remaining cash will part in value with the purely digital money...

Physical money will eventually die, or will be something that only hipsters use, just like vinyl. Everyone else will be using digital media. Physical money is inconvenient, and just annoying, once you have the digital alternative.
We better have improved anonymity features by then to, because that's the gov's ultimate wet dream: digital only money and all the stuff being accessible for them in an huge transparent ledger (while big corps keep their shit hidden in secret vaults).

Honestly if said person had any common sense. They'll know when to stop. I see what you're saying but that's just an excuse for people

Furthermore, with bank cards people tend to spend more than they would do if they had paper money on hands. This is purely psychological, since you don't see your money leaving your pockets and don't know where to stop, wtf...

Thereby bank cards promote relentless consumerism, not a good thing if you are going to save a little

Yeah agree,bank cards and paper money are totally different, in fact people prefer paid their needs with their card (debit or credit) morover if the amount of payment is large.
this is one of the technology that helping people like bitcoin's did

Bank cards are essentially different from paper money only by their variable "denomination" (if we are talking about the form of money). In other words, a bank card is like a hypothetical banknote which changes its denomination on each transaction...

I am talking about the form of the money. I can say those card also based of coin (yeah the metal thing to pay your beverages in vending machine) Anyway, those cards are really different with paper money, although both of them have similar function.

I also agree with you
banknotes have an important role in the real world and the digital money as well as having an important role in cyberspace
each type of money has a very important role

With age people usually begin saving instead of spending, or just save more than they did before

Nah, paper money will stay forever. It's faster to buy some food or in a convenient store or in a market using paper money you'll just handed it. While bitcoin needs some process.

Good topic.  The modern monetary and financial systems are so baked into the heads of mainstream economists that they can't seem to envision a profoundly different and better world.

You have to ask why inflation is "necessary."  It's considered necessary because, otherwise, people would hoard money and drive prices and demand down until most people are unemployed.

But this entire narrative is based on the modern inequality and fragile demand (that is, a huge portion of economic activity being based directly or indirectly on serving the whims of the rich and moderately rich) that were created by centrally planned money in the first place.

With the central planning at the heart of the modern system, the elites use state power to prop up the values of the financial assets issued by states and banks.  This is really designed to give unearned power and wealth to the elites who issue these assets, but has the side effect that investors don't always trust the values of the assets, since they know the values are artificial.  If some event makes investors think the authorities are losing control, they will liquidate their assets and the economy will suffer.  Inflation is one of the many ways to nudge investors into staying invested in risky assets.

In a truly free market, lack of demand (deflation) is naturally self limiting.  As savers get older, richer, and prices get lower, at some point, it will make sense to consume.  Consumption will then drive investment.  The problem is that the modern economy is so addicted to asset inflation that it can't afford to wait for this process to take effect.

The economy needs inflation in the same way that a sick person needs to sleep 20 hours a day.  Better to cure the disease.

Not necessarily. You just need to keep the amount of money in circulation balanced with the size of the economy. Fiat (credit) money serves this purpose the best, but its power is often abused by governments...

You can believe me too, I also studied economics and finances, lol

Never is a long time, I wouldn't be so sure about it. I've got to say that I agree that paper money are here to stay and will be in our hands for the next 50 years or so imo. Digital money may be functioning parallel to standard paper money without problems for many many years.

But the cards and stuff that you talk about is based off paper money.

Every money have their own time to exist, and at this decade, some people have began to leave paper money and prefer card to pay their stuffs. People always choose more practice and secure thing for their life, and I think paper money is not that thing for now.

Holding paper money is the only way for normal people to defend against a negative interest environment. By removing paper money, banks can easily pressure people to spend their money by charge interest for their money in the bank account

And that's where bitcoin will take over

This current paper money is money that is popular in the real world, so it is likely that the bills will last a long time in the appeal of coins in the real world

Yeah agree plastic money,how could i dont think about it?
we have to realize that people had moved into plastic money as knowing as credit or debit cards
people prefer using debit or credit card than using paper money,morover transaction with the large amount

I think paper money will always exist. People are afraid of the security of bitcoin. Paper money has been reliable in the past and will continue to be in the future.

I think Bitcoin is part of the natural evolution of money. Of course paper money will be still needed for certain transactions, but I believe that Bitcoin will eventually be as ubiquitous as credit or debit cards, it's just a matter of time for people to adapt.