Post
Topic
Board Economics
Re: The future of the paper money
by
deisik
on 25/04/2017, 12:45:37 UTC
Who gets in the way of paper money?
I use them often and I have doubts that they will ever cease to exist. Bitcoin is not a competitor to them. This is a completely different system and it does not need to be compared with fiat.
Paper money will cease to exist. First, their production costs money, the second counterfeiting brings damage to the economy, in the third government does not control, and current trends lead to gain control over people. Be it bitcoin or the national currency is not important

Without telling the specific terms it is no more than empty verbiage

I could just as well claim that everything will cease to exist and now try to prove me wrong. Other than that, even if some stupid government bans cash from circulation today, people will just start using some foreign currency bills and coins tomorrow for cash payments and settling accounts between themselves. There is no point in forbidding something when you lack the power to enforce the ban. Moreover, it will be counterproductive since people will just start distrusting their government even more than usual