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Author Topic: Paper Money vs. Digital Currency  (Read 16461 times)

Offline LaZim

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Re: Paper Money vs. Digital Currency
« Reply #180 on: October 19, 2021, 03:32:21 PM »
In my opinion, paper money is not very efficient anymore because the cost of paper money is expensive and can have a bad impact on the environment because the main material for paper is wood, which trees can be used for oxygen production in the forest which eventually must be lost due to being cut down by humans.
This is not a true belief.People also think that gasoline cars cause more damage to the environment than electric cars.It's exactly the same here.To maintain the workability of the blockchain, a huge amount of electricity is needed.And this may even have a more negative impact on the environment than cutting down trees.

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Re: Paper Money vs. Digital Currency
« Reply #180 on: October 19, 2021, 03:32:21 PM »

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Re: Paper Money vs. Digital Currency
« Reply #181 on: November 23, 2021, 12:18:10 PM »
the need for socialization and direction about the ease of transacting digital money because it covers the whole world but if an area does not have internet access, of course it will also be a problem that it is difficult to accept digital currency
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Re: Paper Money vs. Digital Currency
« Reply #182 on: November 23, 2021, 02:43:45 PM »
It is difficult to persuade or influence someone to believe in digital currency. Because some of the brands are also still difficult to use the technology. In the world also paper currency is more trusted and known to everyone because of its tangible form and they have been using it for years as a transaction tool. This may also be the reason if people are more comfortable using paper currency.
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Re: Paper Money vs. Digital Currency
« Reply #183 on: November 23, 2021, 07:42:54 PM »
The problem for decentralized cryptocurrency is still that it is very poorly used as a means of payment. So far, this is the most speculative asset, which is expected to grow in value over time. Therefore, states will use their digitized national currencies of central banks and, most likely, they will find support among the population. Paper money will gradually decrease in turnover, but it is also needed. I don't think we will be able to get rid of cash in the near future.

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Re: Paper Money vs. Digital Currency
« Reply #184 on: November 24, 2021, 03:24:17 AM »
It is difficult to persuade or influence someone to believe in digital currency. Because some of the brands are also still difficult to use the technology. In the world also paper currency is more trusted and known to everyone because of its tangible form and they have been using it for years as a transaction tool. This may also be the reason if people are more comfortable using paper currency.

Don't worry, I know It's  difficult to influence some one to believe in crypto currency, maybe They have read negative issu or true crypto haters.
Digital money is always be digital asset and paper money will survive until the digital era come.

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Re: Paper Money vs. Digital Currency
« Reply #185 on: November 24, 2021, 11:31:34 AM »
IMO, I believe paper money is hard to replace because it was widely used and accepted globally, But because of the rising technological advantage of digital currency it might be used for payment services but it should be a form of stable coin and not a form of decentralized cryptocurrency because it's too volatile that might reduce its value during the prices movement.

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Re: Paper Money vs. Digital Currency
« Reply #186 on: November 25, 2021, 12:26:20 PM »
The problem for decentralized cryptocurrency is still that it is very poorly used as a means of payment. So far, this is the most speculative asset, which is expected to grow in value over time. Therefore, states will use their digitized national currencies of central banks and, most likely, they will find support among the population. Paper money will gradually decrease in turnover, but it is also needed. I don't think we will be able to get rid of cash in the near future.
Even if in the future all paper money will be replaced by digital, it will not mean that this money can be speculated. It will be a digital fiat. People will also pay them in the store using cards, phones. Most won't even notice the transition.

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Re: Paper Money vs. Digital Currency
« Reply #186 on: November 25, 2021, 12:26:20 PM »


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Re: Paper Money vs. Digital Currency
« Reply #187 on: November 27, 2021, 11:57:46 AM »
The problem for decentralized cryptocurrency is still that it is very poorly used as a means of payment. So far, this is the most speculative asset, which is expected to grow in value over time. Therefore, states will use their digitized national currencies of central banks and, most likely, they will find support among the population. Paper money will gradually decrease in turnover, but it is also needed. I don't think we will be able to get rid of cash in the near future.
Even if in the future all paper money will be replaced by digital, it will not mean that this money can be speculated. It will be a digital fiat. People will also pay them in the store using cards, phones. Most won't even notice the transition.

Hopefully it will happen, crypto currency will replace fiat money at the coming future.
I always imagine about it, when digital era I think everything will be digital.
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Online EthereumDev_

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Re: Paper Money vs. Digital Currency
« Reply #188 on: November 27, 2021, 06:50:50 PM »
paper money with digital money in my opinion has a very different character, paper money has a very expensive printing cost and of course requires raw materials that make the world very dry because it will lose trees because the raw material for paper is wood, while digital currency having a digital form and no physical form makes itself more efficient, maybe for now paper currency is still not completely gone, it's just that the reduction in the use of paper money seems to have started to happen because more and more digital currencies are developing.

Offline dekafee79

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Re: Paper Money vs. Digital Currency
« Reply #189 on: November 28, 2021, 05:12:57 AM »
paper money with digital money in my opinion has a very different character, paper money has a very expensive printing cost and of course requires raw materials that make the world very dry because it will lose trees because the raw material for paper is wood, while digital currency having a digital form and no physical form makes itself more efficient, maybe for now paper currency is still not completely gone, it's just that the reduction in the use of paper money seems to have started to happen because more and more digital currencies are developing.

If talking about effectivity and cost of paper money, Of course papaer money take expensive cost.
Digital currency is more effective and low cost.
But I don't think digital currency will replace fiat money.

Offline Noverteno

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Re: Paper Money vs. Digital Currency
« Reply #190 on: January 01, 2022, 07:33:09 PM »
The majority of people in the world believe in paper money. They believe it is used to buy and sell goods and services. A currency that is physically visible to the world.
But the world to come is the world of digital currency. Because it's an easy and reliable way to send and receive money anywhere in the world. We can send or receive money in minutes.
But there is a big difference between the two currencies.
Therefore, it is very difficult to adopt digital currency worldwide. Because consumers are not familiar with this new technology and they are not willing to use this payment method. Because they still don't believe in this technology.
So, how do we persuade people to adopt digital currency?

I Translate Only This Page : https://www.altcoinstalks.com/index.php?topic=187284.0
There is no need to rush to move to digital money. They are more efficient compared to non-cash forms of payments, but they cannot replace paper money. In some cases it is much more profitable to use paper money than non-cash money. Therefore, digital money, CBDC, should simply complement existing types of payments. You should not get rid of old and reliable paper money. We shouldn't be completely dependent on new technologies. It must be remembered that in various cataclysms, high technologies often fail.

Offline Andre Shelton

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Re: Paper Money vs. Digital Currency
« Reply #191 on: January 01, 2022, 08:22:44 PM »
Paper money is fading away gradually and more intentional approach are made to keep banks in checks with what the Crypto innovative world is putting in play. More often we would be having much more banking solutions that favours the users, Bitay exchange is launching its Visa card soon, this would ease fiat to crypto exchange and vice versa. Bitay which is an already established exchange with over 700k KYC users on its platform and recording up to $55,000,000 daily trading volume. Bitay coin is also launching soon with NFT and games also coming to the ecosystem this year.

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Re: Paper Money vs. Digital Currency
« Reply #192 on: January 01, 2022, 08:24:39 PM »
The majority of people in the world believe in paper money. They believe it is used to buy and sell goods and services. A currency that is physically visible to the world.
But the world to come is the world of digital currency. Because it's an easy and reliable way to send and receive money anywhere in the world. We can send or receive money in minutes.
But there is a big difference between the two currencies.
Therefore, it is very difficult to adopt digital currency worldwide. Because consumers are not familiar with this new technology and they are not willing to use this payment method. Because they still don't believe in this technology.
So, how do we persuade people to adopt digital currency?

I Translate Only This Page : https://www.altcoinstalks.com/index.php?topic=187284.0

Of course, almost all of people at the world believe in paper money than digital currency.
Digital currency will take several years to be more popular and has been accepted by many people
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Offline KaliLinux

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Re: Paper Money vs. Digital Currency
« Reply #193 on: January 02, 2022, 09:33:45 AM »
The majority of people in the world believe in paper money. They believe it is used to buy and sell goods and services. A currency that is physically visible to the world.
But the world to come is the world of digital currency. Because it's an easy and reliable way to send and receive money anywhere in the world. We can send or receive money in minutes.
But there is a big difference between the two currencies.
Therefore, it is very difficult to adopt digital currency worldwide. Because consumers are not familiar with this new technology and they are not willing to use this payment method. Because they still don't believe in this technology.
So, how do we persuade people to adopt digital currency?

I Translate Only This Page : https://www.altcoinstalks.com/index.php?topic=187284.0

Apart from believing in the technology, it is not its time yet. we still have a long way to go for many to adopt and use it just like paper money is been used. You and I and many on this platform believe in the Tech and crypto but how often have you used it for payment? So it is not only the belief but the general adoption which will be very difficult because that aspect is controlled by the Government and they too believe in the tech but are not willing to adopt because they understand the consequences of it.



Offline brijmohan

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Re: Paper Money vs. Digital Currency
« Reply #194 on: January 02, 2022, 04:23:04 PM »
PAPER MONEY IS IN REACH OF EVERYONE IN THE WORLD BUT DIGITAL MONEY HAS NOT YET REACHED THE PEOPLE.BUT THE FUTURE IS OF DIGITAL MONEY

 

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