The future of the paper money - page 62.

Sanitough

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Quote from: z38630610 on October 17, 2017, 03:07:57 PM

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?

You should think about how many people use credit or bank cards or mobile payment systems. If it grows paper money will start to lose reputation. Maybe 30 or 40 years later, there will be no paper many in the world. İmagine that all people uses mobile phones for payment.

It's actually growing and yet the demand of paper money is still here, paper money might less demand but it not be loss in circulation.
A lot of people are still relying on paper money in their transaction so it will stay and we can only see a lot of choices and we choose based on our convenience.

z38630610

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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?

You should think about how many people use credit or bank cards or mobile payment systems. If it grows paper money will start to lose reputation. Maybe 30 or 40 years later, there will be no paper many in the world. İmagine that all people uses mobile phones for payment.

usorin

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If we look back in the history we can imagine those big oversized note from the chinese (they introduced the paper money), and if we compare it with the present paper or brother plastic money i would say that it is inevitable to avoid the digital money. Paper money brings a lot of trouble and they are more expensive, and not for last, they can't be traced so it is harder to find out what where goes...so the paper money will vanish at some point.

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Quote from: kamilah147 on October 13, 2017, 08:06:37 AM

Quote from: pejuang_mamak on October 12, 2017, 10:41:12 PM

Quote from: Protomono on October 12, 2017, 10:16:03 PM

Paper money maybe will lose, but certainly takes very long time. And indeed, now a technological era where financial transactions can be done using card or even in the presence cryptocurrency will further accelerate the displacement paper money.

if you can quickly replace the paper money means cryptocurrency will be increasingly known to many people and the more expensive the price but maybe it will impact on the currency of the country that resulted in such a country of China

if I think the paper money will not be invincible, because paper money is something that has been built before bitcoin appears. in this case also paper money is a symbol for the country. because this is the struggle of the heroes of the past. so we as a successor must guard it, not replace it.

You also know the fact is we do not have much people use paper money in large countries as U.S, China, U.K ... Most people are using Visa/Mastercard instead of bring wallet have paper money, of course, the benefit of Visa/Mastercar has overcome paper money. So, I think in someday, we will not need to use paper money is possible.

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Quote from: Bitcoincole on October 16, 2017, 08:00:26 AM

Quote from: wearepoor on September 21, 2015, 10:20:45 AM

I think paper money have its own importance and will never dead. Though people are started using debit cards, credit cards and other digital currencies; there are some transaction which needs to be deal in traditional cash only. Paper money will be always the main mode of payment for day to day transactions.

Digital currencies are already in its verge of popularity especially in higly developed countries.However, I don't believe that paper money will lose its value anytime in the future.Maybe lesser percentage of people will be using it in the rich countries but in the third world countries paper money will still be the leading source of payments.

Yes the popularity of the digital currency is increasing, more and more people more investing in the digital currency so I think it is very good to buy the bitcoin and then hold the bitcoin for more profit, the digital service is now available in all the areas of the country and a lot of people are investing in it. The more you will make it popular the more you will be able to get the profit through using the digital currency only.

futile-resistance

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Quote from: gunungkembar on October 12, 2017, 11:05:38 PM

the future of of the paper money will echange to digital money or digital currency using digital more healhty and safe the jungle

This is something for which we need to wait, only then we can know exactly what will happen. In my opinion, paper money will remain at its very own place in the future and people will keep on using paper money as well. This might happen that the use of paper money will become less but it cannot be entirely vanished out from this society.

Bitcoincole

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Quote from: wearepoor on September 21, 2015, 10:20:45 AM

I think paper money have its own importance and will never dead. Though people are started using debit cards, credit cards and other digital currencies; there are some transaction which needs to be deal in traditional cash only. Paper money will be always the main mode of payment for day to day transactions.

Digital currencies are already in its verge of popularity especially in higly developed countries.However, I don't believe that paper money will lose its value anytime in the future.Maybe lesser percentage of people will be using it in the rich countries but in the third world countries paper money will still be the leading source of payments.

Blackwhite69

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Quote from: BarbieCasino on October 15, 2017, 11:31:16 AM

Quote from: plucking23 on October 13, 2017, 07:17:12 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?

everything is temporary even paper money
they will be exchange by something that is greater with it
I think it would work because its already happening

The future of the paper money is now very dull according to me, the people are aware of the new technologies and they are using these things for the betterment of the bitcoin and the crypto currency, the value of the bitcoin is high and the importance of the bitcoin is increasing more and more. The bitcoin is now being use by a lot of the people and the future of the crypto currency is very bright as compare to the fiat money.

I have felt it because it seems that virtual currency is now very much the talk of everyone around the world.
Everyone told me about it.

johnne

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Quote from: d.mas on October 10, 2017, 12:06:19 PM

I personally don't think paper money will completely disappear any time in the near future. It is true that electronic transactions have become more and more common over the last few decades and I see no reason why this trend will not continue. We may even get to the point where paper money transactions become incredibly rare. At that point, the tables could turn and what we now consider paper money may actually act as the backing to our electronic currency, the way the gold standard once backed paper money.

With electronic money there is question of privacy security and many people don't believe in electronic money they still prefer physical money and this will prevail in the future too.

Digital money is very develop now in most of the countries because using of digital money is easy as compare than paper money but keep in mind that paper money have his own value everywhere and it is not possible that paper money will complete disappear from the world because without paper money currency is not possible of any country.

BarbieCasino

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Quote from: plucking23 on October 13, 2017, 07:17:12 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?

everything is temporary even paper money
they will be exchange by something that is greater with it
I think it would work because its already happening

The future of the paper money is now very dull according to me, the people are aware of the new technologies and they are using these things for the betterment of the bitcoin and the crypto currency, the value of the bitcoin is high and the importance of the bitcoin is increasing more and more. The bitcoin is now being use by a lot of the people and the future of the crypto currency is very bright as compare to the fiat money.

ugarpice

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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?

Maybe that would happen in 30 or 50 years time. We cannot determine when will the cash be gone and replaced by bitcoin. The paper money is protected and regulated hy the government thats why it wodmbe gone soon.

Tukang Becak

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Although the use of paper money for transactions is diminishing as many countries are diverting to digital money but I am sure that paper money will always exist and will never disappear.

ausbit

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Quote from: Protected101 on September 23, 2017, 11:35:45 PM

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

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

Yes paper money would last forever because the first money that we have.it is also our currency that can we used to buy other things.but there is also an important thing about coins its can helps us because it is digital currency that we can used in electronic system.

I do not agree with you because with the passage of time everything change and so will be happens with the paper money. If we look the past there was no paper money. All the trade would be done through barter system.

Then gold took place and then after a long tine paper money was introduced and now the time comes that digital currency will take place and the paper money will be disappear.

AjithBtc

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Vave.com - Crypto Casino

Without paper money we could have never thought of such an innovation. So this will serve as the base for the entire economic framework. In particular without paper money nothing will function, some countries have digitalized their currency, but haven't abolished paper money. So till the last minute of the world paper money gets used.

kamilah147

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Quote from: pejuang_mamak on October 12, 2017, 10:41:12 PM

Quote from: Protomono on October 12, 2017, 10:16:03 PM

Paper money maybe will lose, but certainly takes very long time. And indeed, now a technological era where financial transactions can be done using card or even in the presence cryptocurrency will further accelerate the displacement paper money.

if you can quickly replace the paper money means cryptocurrency will be increasingly known to many people and the more expensive the price but maybe it will impact on the currency of the country that resulted in such a country of China

if I think the paper money will not be invincible, because paper money is something that has been built before bitcoin appears. in this case also paper money is a symbol for the country. because this is the struggle of the heroes of the past. so we as a successor must guard it, not replace it.

plucking23

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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?

everything is temporary even paper money
they will be exchange by something that is greater with it
I think it would work because its already happening

biskitop

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I think there is no problem with paper money, though in the future bitcoin as a digital currency is getting more and more popular in use. I think people still need paper money for payment directly, especially when doing transactions in traditional markets.

Moonrunner

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I think bitcoin can easily get paper money because it is really popular right now and the market is doing very good actually. So bitcoin might as well get paper money and be like the second paying method in the world.

TheGreatPython

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Quote from: Haldor on September 21, 2017, 07:07:05 PM

Quote from: coolstory on September 21, 2017, 04:51:49 PM

Quote from: winterland on September 21, 2017, 04:46:26 PM

Quote from: Sled on September 16, 2017, 06:35:32 PM

Quote from: winterland on September 16, 2017, 05:08:27 PM

Quote from: Md Saad on September 11, 2017, 02:03:16 AM

you can't imagine the world without paper money, it is impossible to ban paper money for ever. do you know how many people are using plastic money and card?
I think this number is very small in comparison to the whole population. and virtual currency also being used by the small number of people. most of the people are feeling comfortable to keep or use paper money still now. regarding paper money, only security is the problem in order to carry out, but for me, still, there is nothing to be a replacement for paper money. so it will last for ever.

Most money now is in electronic form than in cash form about 7% of all the money of the world is in the form of cash the rest are just a bunch of numbers on the databases of banks and governments so I think we are closer to the elimination of cash as a form of money than what you imagine.

The form of money is slowly evolving and it is from being a physical cash to a virtual cash like paypal or mobile wallet and i think that in the near future we can see bitcoins or other form of cryptocurrencies that are being used in different transactions like paying things up and get different services with just the use of cryptocurrency.

This is why bitcoin has such a bright future, bitcoin does not need to create the demand for online payments the demand is already there many people in the first world already know how to send payments online so the only thing bitcoin needs to do is to convince people to use it.

One might believe that bitcoin will have a strong future, this is normal, but when you say paper money will be replaced by bitcoin, this is just not meaningful. Paper money will survive till the end of the world.

I believe that fiat currency will last forever but paper money will be replaced by digital currency issued by governments. This is the future.

The paper currency now is usable all over the world and in the future it will be, because digital currency is not acceptable in many countries till date. Therefore I realize in the near future there is no chance for its death, but in the long run it may be disappear from the world.

But it depends upon the trust and faith of the people and also the investment. When all the people convert their paper currency to digital one that will be the end of paper currency.

kpcian

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I am sure that paper money will last for a long time besides digital money. Because most of the people don't want to use the digital money due to getting the lack of credibility. they usually want to make their transaction in the conventional system. so paper money will be used until this financial system exists.

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