Topic: The future of the paper money - page 33. (Read 416603 times)
For my understanding the future of paper money maybe will decrease in the future. But paper money will never be gone. Its only decreasing because we have a new generation that money will be always money even if it visual or crypto currencies.
In my opinion use of paper money will go to considerable decrease. The cryptocurrency is the ideal tool on their replacement. However time hasnt come completely to replace yet. it will be smooth process within many years.
banknotes including fiat money managed by the government. if in appeal to cripto money very much different, because fiat money will get many rules from the government such as taxes. while crypto money will not be affected by the government.
Not all the people think like this several courtiers are even thinking to make bitcoin as the legal and regular money of their country. For me whenever I go to some markets I mostly saw a board written as bitcoin payment service is available. So it is not a big deal to have bitcoin now a lot of countries are going to make it legal. Bitcoin demand is now very high and people are using it as legal currency so future of paper money it in danger zone.There are maximum chances of getting robbed when you are having cash with you but this is not seen with bitcoin. Bitcoin is having very clear edge over cash.
The future of paper money will continue to survive until whenever, not all things can be eliminated, the current example is a book from the paper can still survive though whitepaper easier to use.
I agree, I think paper money will continue to survive, paper money has existed thousands of years ago and thousands of years paper money will continue to be available, state protection is a guarantee that paper money continues to survive.
There is no future for paper money. The currency you have in your pocket today is probably the last currency that will be printed. Its all going to be crypto currencies
Paper money is the current currency and Bitcoin is the future digital currency. Somewhere around a decade before people used gold and silver coins for exchange, slowly that has been converted to paper and this would slowly converted to digital (cryptocurrency). It my take years but for sure crypto currency would replace paper currency.
Government wants everything in their control and cryptocurrency is not with their expectation since Bitcoin is decentralised one. This makes government to slow their drive in cryptocurrency. May be this would change if any developed countries accept Bitcoin first and other countries may follow them.
As mentioned in your post that England is planning for digital economy, may be this is the stepping stone for cryptocurrency to replace paper currency.
Government wants everything in their control and cryptocurrency is not with their expectation since Bitcoin is decentralised one. This makes government to slow their drive in cryptocurrency. May be this would change if any developed countries accept Bitcoin first and other countries may follow them.
As mentioned in your post that England is planning for digital economy, may be this is the stepping stone for cryptocurrency to replace paper currency.
I do not understand what state-backed digital currency based on bitcoin means? They will probably create their own state-backed digital currency but surely independent of bitcoin, because otherwise how could they manipulate its value and the economy?
This is probably centralized cryptocurrency supported by governments. It's more like digital money rather than literal cryptocurrency.
The future of paper money is quite bleak and the reason is very obvious. It is mostly hard to manage it even in banks or at homes. You need to pay taxes all the time.
Bitcoin will continue to survive especially now that it is stable , good price and used by many . I make sure that they will be silent and began to trust the bitcoin. It will then do something better than anyone else .
The paper money is now using all over the world it is easy for every one to use it every where while the digital form of money it is difficult for uneducated people and in the less developed area it is hard to educate them for accepting bitcoin as a payment currency. in the future may the use of paper money will be less as compared to the digital and electronic money.
I dare to ensure that the future of paper money will continue to survive because as we know that paper money is a tool of the state that will be protected until whenever, besides without paper money will certainly make bigger problems in the state transactions.
I don't think that the paper money will be banned entirely as i feel it as something foolish even if some of the government are trying to implement complete digital currency i don't feel they will ban paper money as it will affect the people in low class society.
Funny, and what is future technology without paper money. No matter how far technology goes, there will always be a paper money cause they are very important. Even if not used by majority of the people, they will always be found in Banks. You should first of all reason, before you comment and not just comment what you feel like commenting. Paper money will be never eliminated since there is somewhere you can not use the internet.
Yes it seems so, paper money never disappear because the state protects completely, paper money is the symbol of the country so anything will be done to protect paper money.
I think the future of paper money is worst day by day. When the digital money is taking the lead at this moment.
Paper money will be never eliminated since there is somewhere you can not use the internet.
I don’t understand why people are so worried for paper money. Paper money is here since hundred years & will remain there for next so many years. As compared to $83 Trillion world economy, fiat currency has $31Trillion where as cryptocurrencies share is $100million. So how fiat currencies future is in danger? Fiat currency is the most convenient and highly used currency in all parts of the world. Their centralised nature assures its holder a security. They are owned and controlled by government or by central bank so less volatile in nature. Any class of society can use it without any infrastructure.
People are worried about paper money because governments want to eliminate cash and while bitcoin creates an alternative to fiat at the same time it is another blow to paper money, paper money is incredibly practical and that is why it is still used all over the world as one of the preferred payment methods.Bitcoin is the best digital currency and we all know that the number of bitcoin users are increasing day by day which indicates that bitcoin is the future currency of the world and it would easily replace paper money. In short, the importance of paper money will decrease.
I like paper money. I like to feel the buying power in my hands :p Bitcoin makes me feel like a robot. I am not saying paper money is better tho.
I agree with I also like that way to know by other people that you can also make things happened using a paper money but I also say that paper money is more better than bitcoin because bitcoin for me is more better than paper money.Bitcoin will become more popular because it's also a great investment and those people who love to transact online can benefit with the decentralized system.
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?
In the future, paper money continues to be the most popular currency in the world and it still dominates the monetary world. I do not have any idea what altcoin can replace it in the future. 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?
The use of digital money continues to grow, we can see that almost all transactions do not want to receive cash and must use digital money so I'm sure that the future of paper money will soon disappear.
The population is growing so you cannot just say that paper money will disappear, if we can only make all people adopt with the online currencyit would be possible but the reality is not, most people are still uneducated with online currency and they will continue to patronize paper money.
The use of digital money continues to grow, we can see that almost all transactions do not want to receive cash and must use digital money so I'm sure that the future of paper money will soon disappear.
I think that paper money will survive for sure. I mean that not all the place can use a digital currency, such as bitcoyne. It is difficult to change the culture of people to use paper money in digital money.
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