Re: The future of the paper money

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

Your claim is related to the faith; it’s true so no need to comment on it. The other part is if the government bans cash circulation or something, it has also been tried in a form that the government decides to change the money bills and coins. It has been practiced several times in many countries.

Banning the cash transaction can only happen in the extreme situation and people will definitely find a way out to ease their lives

But how are you going to implement this in real life?

The only route that I can think of is not about banning cash as such. It is about declaring bills of certain denominations as no longer valid and legit. In most extreme cases (as you say), a government may just announce that all denominations of cash money are null and void, though when this practice was actually followed in real life, the reasons for that had certainly been different from banning cash itself. Whatever they might be, the effect is essentially the same, i.e. people distrusting their national currency and converting their monetary savings and earnings into some foreign currency (most likely the US dollar)