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Author Topic: Paper Money vs. Digital Currency  (Read 16454 times)

Offline Andalusy

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Re: Paper Money vs. Digital Currency
« Reply #30 on: January 24, 2021, 02:15:40 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?

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You don't need to persuade people to use digital currency, the most important thing to start using digital currency is to make people around the world able to use smart technology that is currently available. that way people will begin to understand the more practical and concise use of digital currency. without understanding the use of technology we will find it difficult to use digital currency.

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Re: Paper Money vs. Digital Currency
« Reply #30 on: January 24, 2021, 02:15:40 PM »

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Re: Paper Money vs. Digital Currency
« Reply #31 on: January 24, 2021, 02:42:15 PM »
In the future digital currencies will dominate the payment system, and banknotes will be abandoned.  Everyone will use digital currency without being persuaded, otherwise they will be left behind.

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Re: Paper Money vs. Digital Currency
« Reply #32 on: January 24, 2021, 05:04:09 PM »
In the future digital currencies will dominate the payment system, and banknotes will be abandoned.  Everyone will use digital currency without being persuaded, otherwise they will be left behind.

Yes, I have seen applications such as modes of transportation and online shop platforms have digital payment methods using stable money such as USDT.
There are many payment options on various trading and transportation platforms, but now crypto has entered into an important component of the transaction system, with its transparency, the Paypal company is willing to buy Bitcoin because they see that there are many crypto users who use Bitcoin for transactions, now we are can send and make transactions using Bitcoin on paypal.
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Offline kulkhan

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Re: Paper Money vs. Digital Currency
« Reply #33 on: January 24, 2021, 05:35:57 PM »
Now a days Digital Currency is very popular. Because it is more then easier from Paper Money. Digital currency is very easy for transection, and transection fee is low from Paper Money. And Digital currency has no regulatory from government but Paper money controlled by Government. So i think Digital Currency is Best.

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Re: Paper Money vs. Digital Currency
« Reply #34 on: January 24, 2021, 07:05:58 PM »
I remember when plastic bank cards were first introduced, the situation was similar, no one understood and did not believe in this payment system, but now in developed countries it is difficult to find a person without a plastic card, so it will be the same with cryptocurrency.
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Re: Paper Money vs. Digital Currency
« Reply #35 on: January 24, 2021, 07:09:40 PM »
I don't think the use of paper money is very important. People around the world are now more confident in virtual transactions. Everyone is benefiting by virtual transactions. In other words, it is possible to transact a lot of assets in a very short time. The third does not require any authority. So virtual transactions are now popular. Paper currency transactions are declining.

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Re: Paper Money vs. Digital Currency
« Reply #36 on: January 24, 2021, 07:49:48 PM »
Some country paper money suffers what they call inflation due to lack of value so therefore the value depreciate in value, while digital currency have what we call internal value despite that it's anonymous and volitility but if you have the valueable crypto project that has long time investment plan it Will be more better than some country paper money.
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Re: Paper Money vs. Digital Currency
« Reply #36 on: January 24, 2021, 07:49:48 PM »


Offline nakmantu99

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Re: Paper Money vs. Digital Currency
« Reply #37 on: January 24, 2021, 07:50:20 PM »
I don't think the use of paper money is very important. People around the world are now more confident in virtual transactions. Everyone is benefiting by virtual transactions. In other words, it is possible to transact a lot of assets in a very short time. The third does not require any authority. So virtual transactions are now popular. Paper currency transactions are declining.

Yes , I see Many people prefer in virtual transaction. It is easier and safety.I think at the coming future we will see virtual transaction  is more popular than use paper money. I hope digital era will come soon.
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Re: Paper Money vs. Digital Currency
« Reply #38 on: January 24, 2021, 08:02:16 PM »
Yes @Anak Mantu, but a lot of time still has to pass for that. The next generations will use and understand it without any problem, and our generation will too. But I don't think older people feel comfortable or safe. We must remember that there are still many older people who do not know how to use a credit card, and that right now is a difficult problem to solve.
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Offline bigcash2011

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Re: Paper Money vs. Digital Currency
« Reply #39 on: January 24, 2021, 08:11:35 PM »
Obviously digital money is the way forward whether it will be crypto or the CBDCs the future form of the money is definitely going to be digital like we have seen almost everything going digital and smart.

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Re: Paper Money vs. Digital Currency
« Reply #40 on: January 24, 2021, 11:22:22 PM »
I think we need a comparison to see future trends:
Crypto:
+ Advantages: transparent, safe, decentralized, cheap transaction cost, high speed, no intermediaries required;
+ Disadvantage: requires modern equipment & internet. Legal issues that threaten the power of governments.

Fiat:
+ Advantages: Government issue & value guaranteed. Easily accessible to everyone.
+ Disadvantage: devaluation, lack of transparency, easy to be counterfeited.

As such, crypto will become a trend for users with conditions and in countries that are open to crypto. And fiat will continue to exist in developing countries and reach normal people, who don't have chance to use smart devices and internet.
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Re: Paper Money vs. Digital Currency
« Reply #41 on: January 24, 2021, 11:38:00 PM »
Are digital currency and cryptocurrency the same? I have no idea to persuade people to use digital currency in my country. Especially, to use digital currency for payment purposes. Our government doesn't allow us to use cryptocurrency for payment purposes. We just use it for digital investment.
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Re: Paper Money vs. Digital Currency
« Reply #42 on: January 24, 2021, 11:53:46 PM »
both paper money and also digital currency have their own characteristics, positive and also negative sides. Imagine that this is a technology ear, so the use of digital currency should be much better in order to find a good place for the crypto to stand with good beleive and also trust especially that crypto will make the easier and more efficient story

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Re: Paper Money vs. Digital Currency
« Reply #43 on: January 25, 2021, 02:35:41 AM »
I don't think the use of paper money is very important. People around the world are now more confident in virtual transactions.
In certain circumstances paper money is certainly important, but this is where we must understand, paper money and digital money are both we need, because in certain circumstances we need one of them to facilitate transactions.
As an example for transactions between countries, of course we will choose digital money because it is very easy to use,
but when formal transactions require using paper money, of course we will use paper money instead of digital money.

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Re: Paper Money vs. Digital Currency
« Reply #44 on: January 25, 2021, 04:50:18 AM »
banknotes can be used for traditional transactions and of course currently paper money is still widely used for local transactions because not all places have internet access and not everyone understands transactions using digital currency, so banknotes and digital currencies will go hand in hand.

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