The future of the paper money - page 91.

Xester

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Quote from: Himanshu111 on July 17, 2017, 10:09:17 AM

I don't think paper money is facing any threat from Bitcoin as government will not allow the circulation of a currency they can not control and regulate. Transaction of Bitcoin also charge a high fees which makes its use impossible for small transactions.

Yes, it is certain that bitcoin will not do anything and cannot change the way paper money have. Paper money has always been here and we saw that it is really indeed a great way to pay anything with it. Although it is easy for me to earn money through bitcoin. There is no doubt that one day but not so soon, bitcoin will be considered as another currency along with paper money.

Yatsan

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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.

Himanshu111

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I don't think paper money is facing any threat from Bitcoin as government will not allow the circulation of a currency they can not control and regulate. Transaction of Bitcoin also charge a high fees which makes its use impossible for small transactions.

Sled

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Quote from: PaperBrikzz on June 30, 2017, 07:57:55 PM

I think countries similar to Germany could do this, for the rest of countries even in 50 years they will still be using paper.

Paper money will be the most used money in the world even after 50 years because there is nothing can replace paper money because it is backed and supported by the governments and a lot of people and businesses are using fiat as a primary type of payment method so there is nothing can break the future of the paper money.

PaperBrikzz

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I think countries similar to Germany could do this, for the rest of countries even in 50 years they will still be using paper.

Basmic

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Quote from: wearepoor on September 21, 2015, 11:20:45 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.

And what prevents you to use credit card in daily life? It is also very convenient. Perhaps the government will lobby for the abolition of paper money because the electronic money is easier to control.

DRaGoN RaNTaRo

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There are already attempts to limit the use of paper money, but you still have to use the Fiat money in electronical form. This means that they can still create money from nothing. I doubt that they will introduce a money system based on bitcoin, because the banks wants to keep the control of it.

Is there any real limit all over the world,i highly doubt that,paper money is the quintessential thing when it comes to local shopping and you really cannot change all those within a short period of time,no government will accept a money system to be based on bitcoin or block chain,because most of these things are not transparent and they will never make those transparent.

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Quote from: KingdomHearts on June 30, 2017, 05:23:03 PM

Yes the future of paper money seems to be at a dark phase, although the plastic money has taken some part of it but with the increasing trend of the cryptocurrency the paper money will lose its market, the paper money is expected to come to a very low level of use in the next one or two decades. As we can see people prefer credit card and debit card more than the cash now a days.

i think it is so early to say anything about that. because currently bitcoin is not yet 1% implemented on the market and i think its users also not so much that can bring such a big change. although it is possible but not so early it will take a lot of time, and i think for that it need to make bitcoin more popular in our area so that the number of bitcoin users increase with the passage of time.

FLoving

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Quote from: ?? on ??

There are already attempts to limit the use of paper money, but you still have to use the Fiat money in electronical form. This means that they can still create money from nothing. I doubt that they will introduce a money system based on bitcoin, because the banks wants to keep the control of it.

As there are several attempts done to limit the use of paper money. But still Fiat money exists in electronically format. So creation of money is comes from nothing. There should be introduced money system according to bitcoin. That all around the world uses same currency. Then there will be no issue to use bitcoin all around the world.

shayshaylaboogie

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Quote from: KingdomHearts on June 30, 2017, 05:23:03 PM

Yes the future of paper money seems to be at a dark phase, although the plastic money has taken some part of it but with the increasing trend of the cryptocurrency the paper money will lose its market, the paper money is expected to come to a very low level of use in the next one or two decades. As we can see people prefer credit card and debit card more than the cash now a days.

But paper money still serves a useful purpose for a lot of people. Cash is way more convenient and doesn't require a pin number, or an id card to use. Its a bearer instrument. If you have cash, people assume it belongs to you or at least you have permission to spend it

And if you ever want to buy anything that you might not want on your bank statement, you can always depend on cash. But it's a security risk for a lot of the same reasons, it feels way better to carry a thousand bucks on a card or check, instead of in your pocket

KingdomHearts

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Yes the future of paper money seems to be at a dark phase, although the plastic money has taken some part of it but with the increasing trend of the cryptocurrency the paper money will lose its market, the paper money is expected to come to a very low level of use in the next one or two decades. As we can see people prefer credit card and debit card more than the cash now a days.

mariahh

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I have not understand the true differences between cash and e money.I suppose fast transcactions and the feel of holdind somthing that has value are the benefits for cash money.However it seems that over the years more and more e money are used by the people.

KnightElite

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Quote from: Kawasanz on June 30, 2017, 02:50:07 AM

The concept of cryptocurrencies is generally abstruse and abstract, and understanding how and why Bitcoin works requires a level of technological knowledge.
Merchan Bitcoin recipients are still considered limited: Until now, although Bitcoin is growing, but acceptance of the digital currency is still limited. Less widely used in stores, and so forth.However, Bitcoin's journey will continue to evolve over time. In contrast to the physical currency that has been accepted by everyone.

Yeah you are correct. Their are many people who are not yet aware to the bitcoin. Like in my country, even though the bitcoin is now legalized by our government the still many people who doesn't know the bitcoin.

Kawasanz

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The concept of cryptocurrencies is generally abstruse and abstract, and understanding how and why Bitcoin works requires a level of technological knowledge.
Merchan Bitcoin recipients are still considered limited: Until now, although Bitcoin is growing, but acceptance of the digital currency is still limited. Less widely used in stores, and so forth.However, Bitcoin's journey will continue to evolve over time. In contrast to the physical currency that has been accepted by everyone.

Questat

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Quote from: Sled on June 29, 2017, 08:18:33 PM

Quote from: Zenithar on June 29, 2017, 07:58:23 PM

Quote from: BeGoods on June 29, 2017, 06:25:28 PM

Quote from: ?? on ??

There are already attempts to limit the use of paper money, but you still have to use the Fiat money in electronical form. This means that they can still create money from nothing. I doubt that they will introduce a money system based on bitcoin, because the banks wants to keep the control of it.

Yeah paper money will disappear does not mean the government will adopt bitcoin to replace paper money. Lol it is something impossible in my opinion. I'm sure the government before their lost paper money will create a new currency system to replace paper money

I think paper money is not going to disappear so easily.

Or, paper money will not disappear because even though there is a lot possible competitor for the paper money, the government is still the strongest in the country that can do what they want in order to maintain their paper money to be used primarily in their country. Cryptocurrencies will be used to support some projects but not to make paper money disappear.

This world would not be a better place to live without paper money, not everything can be done online because there are lot of people
who lacks education and it will only give them a big burden in their life.

Sled

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Quote from: Zenithar on June 29, 2017, 07:58:23 PM

Quote from: BeGoods on June 29, 2017, 06:25:28 PM

Quote from: ?? on ??

There are already attempts to limit the use of paper money, but you still have to use the Fiat money in electronical form. This means that they can still create money from nothing. I doubt that they will introduce a money system based on bitcoin, because the banks wants to keep the control of it.

Yeah paper money will disappear does not mean the government will adopt bitcoin to replace paper money. Lol it is something impossible in my opinion. I'm sure the government before their lost paper money will create a new currency system to replace paper money

I think paper money is not going to disappear so easily.

Or, paper money will not disappear because even though there is a lot possible competitor for the paper money, the government is still the strongest in the country that can do what they want in order to maintain their paper money to be used primarily in their country. Cryptocurrencies will be used to support some projects but not to make paper money disappear.

Zenithar

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Quote from: BeGoods on June 29, 2017, 06:25:28 PM

Quote from: ?? on ??

There are already attempts to limit the use of paper money, but you still have to use the Fiat money in electronical form. This means that they can still create money from nothing. I doubt that they will introduce a money system based on bitcoin, because the banks wants to keep the control of it.

Yeah paper money will disappear does not mean the government will adopt bitcoin to replace paper money. Lol it is something impossible in my opinion. I'm sure the government before their lost paper money will create a new currency system to replace paper money

I think paper money is not going to disappear so easily. actually bitcoin will take a lot of time, may be decades or even century when majority of people will start using bitcoin and will devalue paper money, therefore paper money will continue with bitcoin and people will be welling to use both the option, they will mostly use bitcoin for online purposes and fiat for local where bitcoin will not be accepted.

Fireblade

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Quote from: NEWGOODOUBLE on June 29, 2017, 07:10:03 PM

Quote from: ?? on ??

There are already attempts to limit the use of paper money, but you still have to use the Fiat money in electronical form. This means that they can still create money from nothing. I doubt that they will introduce a money system based on bitcoin, because the banks wants to keep the control of it.

It is very likely that the government will create another version of the fiat in the form of electronic or digital. This is used to replace paper money. I think there is no chance for bitcoin to take over paper money. All the key things are on the government

i do not think that government will create another version of the fiat in the form of electronic or digital but i think they will like to continue their existence fiat currency and may be they are thinking about to create their own crypto currency that will be using only in their own country but it will still not replace bitcoin, because it will still remain as centralized currency and will be under the control of their government.

NEWGOODOUBLE

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Quote from: ?? on ??

There are already attempts to limit the use of paper money, but you still have to use the Fiat money in electronical form. This means that they can still create money from nothing. I doubt that they will introduce a money system based on bitcoin, because the banks wants to keep the control of it.

It is very likely that the government will create another version of the fiat in the form of electronic or digital. This is used to replace paper money. I think there is no chance for bitcoin to take over paper money. All the key things are on the government

Jewell

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Quote from: BeGoods on June 29, 2017, 06:25:28 PM

Quote from: ?? on ??

There are already attempts to limit the use of paper money, but you still have to use the Fiat money in electronical form. This means that they can still create money from nothing. I doubt that they will introduce a money system based on bitcoin, because the banks wants to keep the control of it.

Yeah paper money will disappear does not mean the government will adopt bitcoin to replace paper money. Lol it is something impossible in my opinion. I'm sure the government before their lost paper money will create a new currency system to replace paper money

in fact government will never like to replace bitcoin by paper money. I think they will like paper money to continue, but I think it will depend on the interest of the people If people are interested in bitcoin then they will give more preference to bitcoin and will decrease the use of fiat and so the use of fait money will decrease but will still continue to be use for a long time because al most all the people of the world will become able use bitcoin I do not think so that it will ever happen.

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