Post
Topic
Board Economics
Re: The future of the paper money
by
deisik
on 04/05/2017, 08:53:51 UTC
digital money more safer than paper money... future is digital concept

both of them is safe, its depending about your privacy, and how you safe it.
if you safe your bitcoin at online wallet then somone hack your account, you will lost too Roll Eyes
Yes agree that paper money is the most common form of money used in the world and it will be common for some more time. The digital money is insecure as compare to it but after taking the interest of the government it will not be that much insecure, the reason on the digital currency hacking and stuff is due to the lack of interest of the government. 

That seems a little bit off. Digital fiat is heavily supported by the government but we still see people getting their cards hacked. We still see people losing their digital currency funds. And let's say that the government will give interest to bitcoins, will they secure it? Will they even help securing it? The government is the administration of the country, they are not the Dark Army that can protect us from the possible attacks that can happen.

And let's just say that bitcoin network becomes even more secured, the 51% attack is still possible to do. It requires tons of money. It will only take one rich villain to do that

In fact, fiat currency is not very far from Bitcoin in this regard either

When you mentioned "one rich villain", I immediately thought of George Soros and his attack against the British pound in general and the Bank of England in particular. Soros won, while the British pound was then back and still is today one of the major currencies out there (along with the US dollar, Swiss frank and Euro). So my claim should be even truer with respect to smaller and thus weaker currencies. Governments can basically do nothing against big fish of Soros calibre unless they impose strict controls on currency operations (read speculation), but that alone would instantly render this currency as non-marketable