Topic: The future of the paper money - page 71. (Read 416603 times)
All people will prefer to use bitcoin over fiat money when it is accessible even offline but for now it is not possible. Paper money will not disappear easily and yeah some people tend to use now credit/debit cards but what if there is a calamity and ATM machine is not availabe due to massive power breakdown so we still always need paper money on our side especially for emergency purposes.
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?
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?
Paper money will not be banned why would it be. They sre just going to be phased out. Like an old car replacing a new one. And that new one is the digital currency, cryptocurrency or should I say bitcoins. Because I know that in the future we will use more of our technology that will come to the point that our money is also a digital which cannot be seen, cannot be hold but it is there. It is more convenient than paper money that is hassle to vring with. But there are always be disadvantages in moving into digital currency.
Paper money is now on the verge of extinction as more and more people nowadays are open to the use of cryptocurrency. Their curiosity leads them to know more about the new trend in business. So, we cannot halt or stop as we are leading to the world of technology so as everything we are using now will end us digitally...
Yes i agree paper money will fall, because now more people are now using their credit cards in stead of their paper money even more people are using bitcoins to buy things.
Eventually in a few years paper money will be gone. Everyone will use credit cards and bitcoins.
still be in circulation and the government always listen to the voice of the majority and to their benefits.
We can see bitcoin progress and other digital currencies but paper money will remain.
Paper money is now on the verge of extinction as more and more people nowadays are open to the use of cryptocurrency. Their curiosity leads them to know more about the new trend in business. So, we cannot halt or stop as we are leading to the world of technology so as everything we are using now will end us digitally...
Yes i agree paper money will fall, because now more people are now using their credit cards in stead of their paper money even more people are using bitcoins to buy things.
Eventually in a few years paper money will be gone. Everyone will use credit cards and bitcoins.
Paper money is now on the verge of extinction as more and more people nowadays are open to the use of cryptocurrency. Their curiosity leads them to know more about the new trend in business. So, we cannot halt or stop as we are leading to the world of technology so as everything we are using now will end us digitally...
Yes i agree paper money will fall, because now more people are now using their credit cards in stead of their paper money even more people are using bitcoins to buy things.
Eventually in a few years paper money will be gone. Everyone will use credit cards and bitcoins.
You cannot remove the current system and it is somehow hard to live with just digital currency. People cannot buy something without internet. Many people just use bitcoin for investment, they change it back to fiat whenever they will use it to buy something.
governments simply aren't interested in incorporating bitcoin. they can't deal with the fact that it is something they can't control. paper money will stay at least for another 10-20 years.
There are various system in terms of governemnt. So there are still possibilities for paper money to get involved in the bitcoin system. Because as a crypto-currency that deal with transactions it also needs a basis of value which is the dollar to it to have value for investments and trading. So it would be a good thing for both Bitcoin and the fiat if it become the time where it would help each other to experience development and growth.Paper money could not be completely banned.Even in most developed countries like US,paper money is still used even when most of money transactions are digitized. There are people belonging to older generation and also illiterate people in under developed countries who know only the paper currency.
The future of paper money is looking bleak as it continues to fail on the centralized system it runs on. Bitcoin is decentralized and open source and voluntary therefore it is on it's way to replacing the dollar.
I had no idea if the paper money had a bleak future and I think bitcoin would only be a viable online transaction tool. I see the future of paper money will be fine as long as the government can manage it well and there is no financial crisis in a country.If the money of paper money drops, also the money that you have in your bank is going to drop.
Don't forget that paper money represents money, and also your money in your bank represents money.
The OP talked about paper money and if it could be replaced in the future.
I think it does, soon enough you won't need anything beside your smartphone in order to pay for something and it will be much easier then carrying paper money with you.
governments simply aren't interested in incorporating bitcoin. they can't deal with the fact that it is something they can't control. paper money will stay at least for another 10-20 years.
As of now governments were starting to do a review regarding this system how can they use this to improve their own country , which means they are open for the possibilities and potentials of bitcoin but I will stand in the fact that paper money will still run in different nation since we cannot force every people to use bitcoin for their daily lives and it also has limitation in which oayment will take a bit long when bitcoin is the currency in the sense that that we will open the gadget , connect to a wifi so on, unlike in paper money you will just give and goodbye.
Paper money is now on the verge of extinction as more and more people nowadays are open to the use of cryptocurrency. Their curiosity leads them to know more about the new trend in business. So, we cannot halt or stop as we are leading to the world of technology so as everything we are using now will end us digitally...
Paper money could not be completely banned.Even in most developed countries like US,paper money is still used even when most of money transactions are digitalized.There are people belonging to older generation and also illiterate people in under developed countries who know only the paper currency.
They don't own even a debit card or credit card.They are comfortable only with using the paper money which they could feel it in their hands.
So,we could surely expect paper money to be used continuously.
They don't own even a debit card or credit card.They are comfortable only with using the paper money which they could feel it in their hands.
So,we could surely expect paper money to be used continuously.
The future of paper money is looking bleak as it continues to fail on the centralized system it runs on. Bitcoin is decentralized and open source and voluntary therefore it is on it's way to replacing the dollar.
I had no idea if the paper money had a bleak future and I think bitcoin would only be a viable online transaction tool. I see the future of paper money will be fine as long as the government can manage it well and there is no financial crisis in a country.
The future of paper money is looking bleak as it continues to fail on the centralized system it runs on. Bitcoin is decentralized and open source and voluntary therefore it is on it's way to replacing the dollar.
I had no idea if the paper money had a bleak future and I think bitcoin would only be a viable online transaction tool. I see the future of paper money will be fine as long as the government can manage it well and there is no financial crisis in a country. 
governments simply aren't interested in incorporating bitcoin. they can't deal with the fact that it is something they can't control. paper money will stay at least for another 10-20 years.
There are various system in terms of governemnt. So there are still possibilities for paper money to get involved in the bitcoin system. Because as a crypto-currency that deal with transactions it also needs a basis of value which is the dollar to it to have value for investments and trading. So it would be a good thing for both Bitcoin and the fiat if it become the time where it would help each other to experience development and growth.I guess nowadays bitcoin and fiat were compatible to each other, but it's not possible to eliminate cash type of transactions due to some method of spending still uses it specially when there's no internet at local markets. When time comes it's legally used for all races there will be proper development between fiat cash to be an option for physical holding and bitcoin as a digital holdings served as a storage of funds convertible to cash at all exchanges, same applied with other crypto currencies.
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?
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?
I do not thinknthat paper money will be banned, instead they will not be used anymore or it will be phased out in our society. Bitcoins are the one who will replace that thing, or when the government knows how to work with the blockchains maybe they will create their own cryptocurrency in their own country. Because it is more convenient than paper money. We will now pay our bills using our phones by scanning codes. And that will be less hassle on bringing some cash or credit cards because phone are always in your hands and so does your money.
I think the future they have, but certainly not for long years 10 somewhere like that. So, how soon everyone will switch to e-money and cards.
Very likely that's what going to happen, most of the transactions will be that way. This is happening already so there's no reason that paper money will be staying. And look on how many people wanted to depend on this type of e-money transactions because it's very fast to have the cashless way. I preferable still to use paper money so that we can have other choice when we are trying to purchase some goods.
I'm also hearing and reading news about big tech companies are starting to get into blockchain technology and if that happens for sure there will be a lot of changes in terms financing. I also watched a lot of videos that about scanning qr codes and they are already paid. In China there is a store that doesn't receive cash, instead it is receiving alipay which is their very own payment method from alibaba.
The future of paper money is looking bleak as it continues to fail on the centralized system it runs on. Bitcoin is decentralized and open source and voluntary therefore it is on it's way to replacing the dollar.
Bitcoin and fiat are different currency so it won't affect each other except if government start to make regulation about bitcoin.
My country still forbid bitcoin so the chance to get legalize still small so fiat still be the lead and still popular rather than bitcoin
The future of paper money is looking bleak as it continues to fail on the centralized system it runs on. Bitcoin is decentralized and open source and voluntary therefore it is on it's way to replacing the dollar.
I think the future they have, but certainly not for long years 10 somewhere like that. So, how soon everyone will switch to e-money and cards.
Very likely that's what going to happen, most of the transactions will be that way. This is happening already so there's no reason that paper money will be staying. And look on how many people wanted to depend on this type of e-money transactions because it's very fast to have the cashless way. I preferable still to use paper money so that we can have other choice when we are trying to purchase some goods.
I think the future they have, but certainly not for long years 10 somewhere like that. So, how soon everyone will switch to e-money and cards.
Very likely that's what going to happen, most of the transactions will be that way. This is happening already so there's no reason that paper money will be staying. And look on how many people wanted to depend on this type of e-money transactions because it's very fast to have the cashless way. I preferable still to use paper money so that we can have other choice when we are trying to purchase some goods.
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