The future of the paper money - page 89.

whaawh

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Quote from: PrayForkts on July 28, 2017, 02:43:40 PM

Quote from: Huobi-USD on September 21, 2015, 03:23:32 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?

Paper money will be banned entirely? Maybe, but that will be in more than 30 years. And i don't think if it would work at all, i mean many people would be able to do the diary transactions with it. But poverty will only raise in numbers and maybe die because they couldn't afford food with this new tech.

The fact is that I would not have so much to give up paper money so much. The fact is that Bitcoin and other crypto currency despite the increase in popularity in the world, still can not fully replace the real currency. For everyday life, Bitcoin is not very suitable for new people.

Frost

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Quote from: kpcian on July 28, 2017, 02:38:34 PM

still, people all around the world have faith in paper money, they really feel comfortable to spend paper money by at large. if you count the number of people who are using plastic or electronic money then you can find a little portion of a number regarding this issue. so paper money is the best way to spend for a lot of people. that is why i think Paper money has a bright future.

Yes because basically people have long used paper money, so the future of the paper money will remain and will not be replaced by digtal money like bitcoin. Bitcoin is just an alternative to making payments or transacting online, but it is also possible, if bitcoin has a good future because we know that bitcoin has been legalized in some countries.

PrayForkts

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Quote from: Huobi-USD on September 21, 2015, 03:23:32 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?

Paper money will be banned entirely? Maybe, but that will be in more than 30 years. And i don't think if it would work at all, i mean many people would be able to do the diary transactions with it. But poverty will only raise in numbers and maybe die because they couldn't afford food with this new tech.

kpcian

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still, people all around the world have faith in paper money, they really feel comfortable to spend paper money by at large. if you count the number of people who are using plastic or electronic money then you can find a little portion of a number regarding this issue. so paper money is the best way to spend for a lot of people. that is why i think Paper money has a bright future.

Potato Chips

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yesssir! 🫡

Quote from: wumBowo on July 28, 2017, 01:23:58 PM

Quote from: Himanshu111 on July 28, 2017, 11:53:04 AM

I don't think paper money is facing any risk from Bitcoin as Bitcoin transactions charge very high fees which makes their use impossible for small transactions. Moreover Bitcoin does not work offline. So paper money future is absolutely safe.

That is one of the reason why segwit is happened.
About Bitcoin does not work offline.Did you know almost all developed countries are likely tend to use credit card for pay their bills or even their daily needs and sure these transactions need a connection.This is one step ahead for bitcoin to reach on general society/public atleast on developed country first.

Its expensive but theres a thing called wireless terminal where you can process card transactions without an internet connection, if they are really advance i'm sure they can

afford it. then again an internet connection is a must have when you have a large business--has many perks to add on it'll be a lot faster to process transactions through it. so if

i'm a merchant i'll go for the internet connection with the regular machine. and imo i think he's not talking about cards there but its the paper money e.g. face to face transaction

where you hand money to the seller anyways to sum it up, i agree that bitcoin is not a threat right now on paper money. just look at how small the

community? maybe you can ask this question again a few more years later. Just give it more time to grow.

wumBowo

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tozex.io

Quote from: Himanshu111 on July 28, 2017, 11:53:04 AM

I don't think paper money is facing any risk from Bitcoin as Bitcoin transactions charge very high fees which makes their use impossible for small transactions. Moreover Bitcoin does not work offline. So paper money future is absolutely safe.

That is one of the reason why segwit is happened.
About Bitcoin does not work offline.Did you know almost all developed countries are likely tend to use credit card for pay their bills or even their daily needs and sure these transactions need a connection.This is one step ahead for bitcoin to reach on general society/public atleast on developed country first.

MMA

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Quote from: BeGoods on July 28, 2017, 05:47:37 AM

Quote from: Yatsan on July 17, 2017, 10:25:35 AM

Bitcoin can be the future of the paper money but I think it will need a few decades more because the bitcoin progress is not that fast for the world will be able to adopt and now 2017 several countries are accepting bitcoin so I think after few decades it will be more popular.

I think that the future of bitcoin will be bright because of the good bitcoin potential with many interested users and potential users and start adopting bitcoin but it will not necessarily replace paper money in the future. I think paper money can still survive will not even disappear even though everything will be all digital

yes there is no doubt that bitcoin has a very bright future. and the reason is that bitcoin users are increasing regularly. people are now getting awareness about bitcoin. and those people who understand about bitcoin they do no wast the time and trying to invest money in bitcoin.

arpon11

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I do have this thought that bitcoin wil take the position of fiat currencies in the near by future. The major reasons been that fiat is too expensive and that is the reason why many countries are currently in inflation and financial crisis. Bitcoin is very good system for government and to me the security problems is less compared to fiat money.

Himanshu111

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I don't think paper money is facing any risk from Bitcoin as Bitcoin transactions charge very high fees which makes their use impossible for small transactions. Moreover Bitcoin does not work offline. So paper money future is absolutely safe.

qwertyup23

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Quote from: Rostadom on July 28, 2017, 09:57:06 AM

Quote from: albertvert on July 28, 2017, 06:49:39 AM

Quote from: Bitcoin_Delivery on July 28, 2017, 05:50:51 AM

Quote from: BeGoods on July 28, 2017, 05:47:37 AM

Quote from: Yatsan on July 17, 2017, 10:25:35 AM

Bitcoin can be the future of the paper money but I think it will need a few decades more because the bitcoin progress is not that fast for the world will be able to adopt and now 2017 several countries are accepting bitcoin so I think after few decades it will be more popular.

I think that the future of bitcoin will be bright because of the good bitcoin potential with many interested users and potential users and start adopting bitcoin but it will not necessarily replace paper money in the future. I think paper money can still survive will not even disappear even though everything will be all digital

So true. Many experts speculate that the future of paper money will be replaced by digital money. But they do not mention bitcoin is what they mean.I think that bitcoin is what they mean

Ya correct so .Many said paper currency is replaced only by digital currency. Since bitcoin is the King of digital currency, for bitcoin their are lot of chances to replace the same.At first it will replace the dollar and then it will replace the entire paper currency. Then the world over transactions will only made with bitcoin.

*slow clap*

Stop being delusional. Bitcoin is not even the king of digital currencies. The king of digital currencies is digital fiat. In some places, it's even the king of all currencies because they don't really use paper money in their place, only digital fiat. First, I want to ask why would bitcoin replace dollar first and not any other currencies? Is dollar already dying today? I don't think so. Dollar is still a strong currency.

You think bitcoin becoming mainstream is such a straightforward thing to happen, but it's not. No country will just allow their currency to be replaced by a foreign currency, let alone an unregulated with no government issue currency.

I think the biggest problem of bitcoin is its nature being available only online. More than half of the population in the world does not have access in the internet and the dream of replacing the dollar soon is near impossible at the moment. Before that happens, they must first address the issue of having internet access across the world and about the alleviation of poverty. Bitcoin being the universal money in all countries would potentially destroy the economies of developing countries due to being regulated by the developed countries.

Rostadom

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Quote from: albertvert on July 28, 2017, 06:49:39 AM

Quote from: Bitcoin_Delivery on July 28, 2017, 05:50:51 AM

Quote from: BeGoods on July 28, 2017, 05:47:37 AM

Quote from: Yatsan on July 17, 2017, 10:25:35 AM

Bitcoin can be the future of the paper money but I think it will need a few decades more because the bitcoin progress is not that fast for the world will be able to adopt and now 2017 several countries are accepting bitcoin so I think after few decades it will be more popular.

I think that the future of bitcoin will be bright because of the good bitcoin potential with many interested users and potential users and start adopting bitcoin but it will not necessarily replace paper money in the future. I think paper money can still survive will not even disappear even though everything will be all digital

So true. Many experts speculate that the future of paper money will be replaced by digital money. But they do not mention bitcoin is what they mean.I think that bitcoin is what they mean

Ya correct so .Many said paper currency is replaced only by digital currency. Since bitcoin is the King of digital currency, for bitcoin their are lot of chances to replace the same.At first it will replace the dollar and then it will replace the entire paper currency. Then the world over transactions will only made with bitcoin.

*slow clap*

Stop being delusional. Bitcoin is not even the king of digital currencies. The king of digital currencies is digital fiat. In some places, it's even the king of all currencies because they don't really use paper money in their place, only digital fiat. First, I want to ask why would bitcoin replace dollar first and not any other currencies? Is dollar already dying today? I don't think so. Dollar is still a strong currency.

You think bitcoin becoming mainstream is such a straightforward thing to happen, but it's not. No country will just allow their currency to be replaced by a foreign currency, let alone an unregulated with no government issue currency.

Distinctin

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No dream is too big and no dreamer is too small

Quote from: TheFriends on July 28, 2017, 07:05:23 AM

I think the money issue will be within reach of anyone. It has happened in the past, in the past centuries, the state has created the monopoly that only benefits the state and the banks.

Right now I think it can still happen and maybe there is a good reason why bitcoin was invented to avoid from that manipulation again.
With bitcoin we are in control of our money and not only that there is a bonus for our trust since the value will definitely increase.

TheFriends

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I think the money issue will be within reach of anyone. It has happened in the past, in the past centuries, the state has created the monopoly that only benefits the state and the banks.

albertvert

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Quote from: Bitcoin_Delivery on July 28, 2017, 05:50:51 AM

Quote from: BeGoods on July 28, 2017, 05:47:37 AM

Quote from: Yatsan on July 17, 2017, 10:25:35 AM

Bitcoin can be the future of the paper money but I think it will need a few decades more because the bitcoin progress is not that fast for the world will be able to adopt and now 2017 several countries are accepting bitcoin so I think after few decades it will be more popular.

I think that the future of bitcoin will be bright because of the good bitcoin potential with many interested users and potential users and start adopting bitcoin but it will not necessarily replace paper money in the future. I think paper money can still survive will not even disappear even though everything will be all digital

So true. Many experts speculate that the future of paper money will be replaced by digital money. But they do not mention bitcoin is what they mean.I think that bitcoin is what they mean

Ya correct so .Many said paper currency is replaced only by digital currency. Since bitcoin is the King of digital currency, for bitcoin their are lot of chances to replace the same.At first it will replace the dollar and then it will replace the entire paper currency. Then the world over transactions will only made with bitcoin.

Bitcoin_Delivery

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Quote from: BeGoods on July 28, 2017, 05:47:37 AM

Quote from: Yatsan on July 17, 2017, 10:25:35 AM

Bitcoin can be the future of the paper money but I think it will need a few decades more because the bitcoin progress is not that fast for the world will be able to adopt and now 2017 several countries are accepting bitcoin so I think after few decades it will be more popular.

I think that the future of bitcoin will be bright because of the good bitcoin potential with many interested users and potential users and start adopting bitcoin but it will not necessarily replace paper money in the future. I think paper money can still survive will not even disappear even though everything will be all digital

So true. Many experts speculate that the future of paper money will be replaced by digital money. But they do not mention bitcoin is what they mean.I think that bitcoin is what they mean

BeGoods

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Quote from: Yatsan on July 17, 2017, 10:25:35 AM

Bitcoin can be the future of the paper money but I think it will need a few decades more because the bitcoin progress is not that fast for the world will be able to adopt and now 2017 several countries are accepting bitcoin so I think after few decades it will be more popular.

I think that the future of bitcoin will be bright because of the good bitcoin potential with many interested users and potential users and start adopting bitcoin but it will not necessarily replace paper money in the future. I think paper money can still survive will not even disappear even though everything will be all digital

Pejoh Asu

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Quote from: kupido14 on July 27, 2017, 11:39:39 PM

Quote from: randy8777 on September 21, 2015, 03:35:14 AM

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.

Yes, and I think there's a big possibility that paper money and bitcoin is about to merge, and I hope if that happened, bitcoin will definitely raise its value,

I think it's hard to put them together, because bitcoins are impossible to print on paper, I think the future of paper money will last up to 75 years, which will be replaced with digital money.

kupido14

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Quote from: randy8777 on September 21, 2015, 03:35:14 AM

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.

Yes, and I think there's a big possibility that paper money and bitcoin is about to merge, and I hope if that happened, bitcoin will definitely raise its value,

Sanitough

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Quote from: batang_bitcoin on July 27, 2017, 09:27:57 PM

Quote from: hammo on July 27, 2017, 05:36:55 PM

paper money will die but goverment will create their own blockchain so they will not use bitcoin for sure and it should be PoS.

No, paper money will keep on existing as the government will gradually implement the digital money / crypto currency. I don't think they will set aside the idea of using and adopting bitcoin, they won't mind using many currencies for different transactions as long as it will generate profit and it has value for the taxation of them.

When the govern will decide that they will change the present paper money in to digital currency then they will make their own
digital currency and it's not going to be bitcoin. However, that progress will bring good effect to bitcoin's market because people will
be more educated on digital currency which bitcoin belongs as well.

batang_bitcoin

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Quote from: hammo on July 27, 2017, 05:36:55 PM

paper money will die but goverment will create their own blockchain so they will not use bitcoin for sure and it should be PoS.

No, paper money will keep on existing as the government will gradually implement the digital money / crypto currency. I don't think they will set aside the idea of using and adopting bitcoin, they won't mind using many currencies for different transactions as long as it will generate profit and it has value for the taxation of them.

Topic: The future of the paper money - page 89. (Read 416565 times)