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Dormilon

Has the end of physical money come?

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Hi my dear. This dream is possible if access to internet is everywhere and people are well educated how to deal with cryptocurrency. They do not trust on electrical and virtual money.

I think it is very helpful that crypto currency will have an impact in this world

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I don't think thats possible, a world without physical money but there's no doubt that the crypto currencies would play a vital and interesting role just as the physical money or even far better.

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Yes one day the physical money will end but we may not see this in our lifetimes.  I think it is too early to talk about this. In this present age we should follow on what we currently have and how to make it better.  I hope you will get my point.  However,  your question was interesting and right.  The physical money will absolutely end one day. 

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The degital currency take place in market soon the traditional currencies will be end every thing going to the digital due to the technology and it's uses of all. 

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With this in some years to come peoples will start doing real business and much transaction on digital money and with this the technology will advance and a lot of people will benefit the issue of banks will start discharging their workers because the work is know more like before and with this investment will also be digital.

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In order to make the future better and encourage the buying and selling processes, digital currencies were developed. Very soon, local currencies will be replaced by digital currency, even though governments are trying to combat this, but people will increase their use of these currencies.

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I think, my friend, it is a good idea and it will facilitate work in the future in financial trading, and I believe that cryptocurrencies will be official in many countries in the near future because dealing with them is easier.

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On 10/11/2020 at 11:22 PM, Dormilon said:

According to news in recent days, the Asian giant, China, is testing to launch a digital currency, the e-yuan, which would come to compete in the hegemony of the US dollar worldwide, the difference between the two currencies is technology that each one entails, while for the US printing dollars includes expenses in paper and ink, in addition to physical space for storage, the e-yuan will be a digital currency, specialized in financial exchange through devices that will make the modern era of world finance.
With the e-yuan, physical money in China will remain in the memory of many and in the showcases of collectors as something that has completed a cycle within the country.
I must clarify that it is not a Cryptocurrency, it is different, it is centralized and traceable by the Chinese government, which is its issuer, with this this country tries to have its own payment architecture similar to the swift used today by different countries , but whose protagonist is the dollar, the e-yuan will, of course, be more advantageous for these exchanges than the dollar.
Modern times are coming and the existence of physical money is coming to an end, now our money will walk on our devices.
Other information in this regard can be seen at this link:
https://www.dw.com/es/china-lidera-la-carrera-por-la-moneda-digital/a-55174170#:~:text=El banco central de China,digital soberana % 20important% 20del% 20mundo. & Text = From% 20principios% 20de% 20este% 20a% C3% B1o, backed% 20by% 20el% 20central bank% 20.

It is in Spanish, but you can use the translator 🙂

 

 

 

e-yuan.png

I think its not end yet. But the transactions digital currencies in every countries very sharp from some previous years. But its not end up. Because it will may take more than a decade more. Thanks for your guidelines.❤

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On 10/11/2020 at 11:22 PM, Dormilon said:

According to news in recent days, the Asian giant, China, is testing to launch a digital currency, the e-yuan, which would come to compete in the hegemony of the US dollar worldwide, the difference between the two currencies is technology that each one entails, while for the US printing dollars includes expenses in paper and ink, in addition to physical space for storage, the e-yuan will be a digital currency, specialized in financial exchange through devices that will make the modern era of world finance.
With the e-yuan, physical money in China will remain in the memory of many and in the showcases of collectors as something that has completed a cycle within the country.
I must clarify that it is not a Cryptocurrency, it is different, it is centralized and traceable by the Chinese government, which is its issuer, with this this country tries to have its own payment architecture similar to the swift used today by different countries , but whose protagonist is the dollar, the e-yuan will, of course, be more advantageous for these exchanges than the dollar.
Modern times are coming and the existence of physical money is coming to an end, now our money will walk on our devices.
Other information in this regard can be seen at this link:
https://www.dw.com/es/china-lidera-la-carrera-por-la-moneda-digital/a-55174170#:~:text=El banco central de China,digital soberana % 20important% 20del% 20mundo. & Text = From% 20principios% 20de% 20este% 20a% C3% B1o, backed% 20by% 20el% 20central bank% 20.

It is in Spanish, but you can use the translator 🙂

 

 

 

e-yuan.png

I think its not end yet. But the transactions digital currencies in every countries very sharp from some previous years. But its not end up. Because it will may take more than a decade more. Thanks for your guidelines.❤

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In fact with look of things physical money is gradually coming to an extinction even some experts predicted that by 2025 digital currency would be rampant than expected

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Cryptocurrency is dominating some sectors around the world and actually people now prefer to mske investment in digital currency than using fiat money which is making fiat to be else use and affect the economy of fiat country which they have no option than to upgrade to digital economy. 

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as much as i know physical money will never end. crypto has its own place but physical money has its own magic & can never be replaced with any other comodities or anything else. this is anoter reason why we might say that the phase of physical money may never end.

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Yes China try this act. But so many countries which have digital currency but i think paper money can't end at that time and next days because technology is not use on that countries so i think paper money can be end if the technology increases. 

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I also believe that cryptocurrencies will spread widely in the world and I believe that this step by the country of China will accelerate the spread of cryptocurrencies, but I do not think that cryptocurrencies will replace regular currencies because each one of them has many benefits

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Dear dude I think that physical money will never end because it is used in all over the world and there is a lot of countries who do not know about cryptocurrency and do not believe on it. So I think that it is impossible that people's leaves the physical money. 

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Hello, very good friend, your information, I believe that with the advancement of technology, it will lead us to the fact that in the future it will no longer be printed there and it is all by technological means, we must be updating every day for when that moment arrives and those who It is going to be easier for the young people because they today, because of the pandemic, had to update with technology to be able to study and we adults also to help them, everything costs but it is not impossible.

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Not at all.

Physical money has it uses and advantages while digital currencies or money also has it's own as well.

It only has to do with the circumstances you really want to use at hand.

And I mean here is;

Digital currency can be use online while physical money has long way to take before it's possibility.

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In fact, dealing with cryptocurrencies is much easier than dealing in physical currencies, as it maintains privacy and its cost is very low. It may be 0% for usdt and its transfer is very fast around the world, for all these reasons I believe that cryptocurrencies will be essential in the future and will be adopted by millions of people.

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think it is still too soon to discuss this .. Genuine and unmistakable cash will in any case have an extraordinary significance more than digital currencies since individuals are as yet beleiving it ! 

Yet, from my modest perspective, in the end the period of genuine cash will end, and the time of advanced monetary forms will come all things being equal

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You are absolutely right my friend It may be that this physical money inside the future will end, because we are working today like digital currency is like BTC. Many people are investing a lot of money on it and almost all businesses are getting into this online digital currency nowadays. Future has many chances of ending physical money and lacnched the digital currency's  in future .

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it's still a long way from being valid, actual cash will be around for any longer than you might suspect, computerized cash are as yet not open for a wide scope of individuals around the globe, and advanced security can in any case be improved, up to that point advanced monetary standards will keep on acquiring prevalence yet actual cash won't disappear that without any problem.

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Dear friend I do not think so because in many countries and areas there is no internet access and they do not know about the digital currency but I think that in the near future digital currency will be used in all over the world because more peoples show their interest in digital currency and very soon it dominate in all the world and then it will be the end of physical money.

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Yes dear i really agreed aith your opinion. Buts its not the time of such thing. Its take a lot of time. There are many more areas where the access of internet is not available. So in future it may be possible that physical money is deleted from our societies and only digital currencies are available.

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On 1/18/2021 at 8:13 PM, Danylo600 said:

Well that's a welcomed development for cryptocurrency if  China the second most richest countries in the world would convert it's yuan into e-yuan as that would bring a shift of focus from fiat currencies to digital currencies .we can't wait for that to happen

It may certainly be a welcome development to the china's as they will found it more interesting and easy to access both digital currencies and physical money but that will not be favorable to many other countries as there is differences of level of development from each part of the world.

That's my opinion dude

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In my own opinion I dont think the end of physical currency has come because there is some part of the world that still dont have good internet connection but with time thing will change and digital currency will be accepted world wide

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McGlone emphasized that the Tether (USDT) stablecoin, pegged to the US dollar, typically trades twice as much per day as bitcoin. "I can access the US dollar anywhere in the world from my phone using Tether. Tether is the number one trading token. It's the number one cryptocurrency for trading. It's the dollar. The whole world has moved to the dollar. Why? Because it's the least bad of all fiat currencies," the Bloomberg expert stated.   While Mike McGlone merely downgraded bitcoin's attractiveness, Cardano founder Charles Hoskinson simply buried it. He equated bitcoin to a religion and stated that the industry has outgrown its dependence on it. According to Hoskinson, "the industry no longer needs bitcoin to survive." He pointed out critical threats to the leading cryptocurrency, including insufficient adaptability and dependence on the Proof-of-Work algorithm. Franklin Templeton analysts, on the contrary, consider L2 protocols, along with Ordinals, Runes, and DeFi primitives, as one of the main drivers of bitcoin's innovation revival. Strike CEO Jack Mallers defended the first cryptocurrency. According to him, the Lightning Network, created for instant and cheap transactions, a second-layer solution based on the BTC blockchain, can further increase the demand for the first cryptocurrency. Mallers believes that thanks to this, bitcoin can be used for everyday purchases, such as paying for a cup of coffee. Former BitMEX CEO Arthur Hayes called the native token of the Cardano blockchain (ADA) "dog shit" due to its low use in protocols.   As of the time of writing this review on the evening of Friday, 31 May, ADA is trading at 0.45 USD per coin, while bitcoin and Ethereum are faring significantly better: BTC/USD is trading at $67,600, and ETH/USD at $3,790. The total cryptocurrency market capitalization is $2.53 trillion ($2.55 trillion a week ago). The Bitcoin Fear & Greed Index remained almost unchanged over 7 days, staying in the Greed zone at 73 points (74 a week ago).   It should be noted that ETH/USD failed to break through the $4,000 resistance this past week. The local maximum was recorded on Monday, 27 May, at $3,974. The lack of an immediate pump is explained by the fact that everyone who wanted to buy Ethereum in anticipation of the SEC's historic decision already did so. Meanwhile, according to some analysts, there is a high probability that immediately after the launch of the long-awaited spot exchange funds, Ethereum will enter a deep drawdown, similar to what happened in January with bitcoin. Then, over 12 days, it fell by 21%.   One of the key reasons for BTC's drawdown at that time was the unlocking of GBTC fund assets from Grayscale, which was converted into a spot fund from a trust. It began losing investments daily at a rate of $500 million. It is possible that something similar could happen with Ethereum, where Grayscale's ETHE fund holds $11 billion worth of ETH. As soon as this fund is converted into a spot fund and its assets are unlocked, short-term investors might start taking profits, potentially causing ETH/USD to fall to the strong support zone of $2,900-3,200. Pessimists among bearish factors also cite the uncertain legal status of the altcoin, as the SEC has not yet clearly defined whether ETH is a commodity or a security. Additionally, the regulator has many complaints about the staking program.   Staking is a way to earn cryptocurrency by "locking" a certain amount of coins in a wallet on the Proof of Stake (PoS) algorithm to support the network. In return, the user receives rewards in the form of additional coins. According to Wall Street legend Peter Brandt, "the biggest disasters in the cryptocurrency sphere that are yet to happen will be related to staking." The expert noted that such assets as Ethereum are often rented out to earn such income, often in the form of interest, which strongly reminds him of collapsed financial pyramids. As staking becomes more widespread, Brandt warned, it could attract increased attention from central banks, treasuries, and other authorities. This could lead to tighter regulation, significantly altering the crypto space and potentially resulting in the cessation of staking and bankruptcies for those involved. NordFX Analytical Group   Notice: These materials are not investment recommendations or guidelines for working in financial markets and are intended for informational purposes only. Trading in financial markets is risky and can result in a complete loss of deposited funds.   #eurusd #gbpusd #usdjpy #btcusd #ethusd #ltcusd #xrpusd #forex #forex_example #signals #cryptocurrencies #bitcoin #stock_market   https://nordfx.com/ 
    • Даа, кроме нас на форуме остались рекламщики обменников и все). А у вас было монета not, он очень хорошо вырос. Надо было покупать сразу после листинга. Даа, упускаем моменты). Биткоин продолжает коррекцию делать, а я купил какие то щитки и вынужден ждать. 
    • Крупный банкир получил тюремный срок за криптомошенничество   Бывший инвестиционный банкир Рашон Рассел приговорён к 41 месяцу тюремного заключения за мошенничество с использованием цифровых активов. В результате расследования правоохранительные органы США выяснили, что обвиняемый начал опробовать свою мошенническую схему на друзьях, бывших одноклассниках и коллегах по работе в криптофонде R3 в ноябре 2020 года. Рассел обещал им гарантированную доходность инвестиций от 25% до 100%. Чтобы его слова были ещё убедительнее, он пустил в ход свой опыт инвестиционного банкира и сфабрикованные документы (поддельные счета, переводы). Сначала он использовал часть полученных обманным путём средств для выплаты долгов более ранним инвесторам. Остальные деньги Рассел тратил на азартные игры и поддержание роскошного образа жизни. Такая мошенническая схема работала до августа 2022 года. В апреле 2023 года Рашона Рассела арестовали, а в сентябре он признал свою вину. Тогда же выяснилось, что Рассел незаконно приобрёл около 100 кредитных и дебетовых банковских карт на имена других людей. По мнению следователей, он планировал использовать карты для проведения транзакций с полученными незаконным способом деньгами. Минюст США подсчитал, что потери инвесторов от мошеннической схемы Рассела составили $1,5 млн. Именно эту сумму подсудимый должен выплатить своим жертвам в качестве компенсации. Источник - https://ru.investing.com/news/cryptocurrency-news/article-2428894
    • CryptoRank поделился списком крупнейших разлоков июня.        Будьте осторожны в отмеченные дни, ведь увеличение предложения может вызвать давление со стороны продавцов. ARB — $105.21 млн;APT — $103.03 млн;UNI — $87.93 млн;STRK — $75.67 млн;DYDX — $66.3 млн;SEI — $63.81 млн;ID — $55.82 млн;IMX — $54.96 млн;MERL — $42.21 млн;ENS — $36.65 млн.  
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    • В Татарстане построят майнинговую ферму стоимостью $100 млн   В Иннополисе, городе высоких технологий в Республике Татарстан, реализуют майнинговый проект стоимостью $100 млн. Об этом на криптофоруме в Казани сообщил заместитель премьер-министра Татарстана Роман Шайхутдинов и заместитель министра цифрового развития, связи и массовых коммуникаций РФ Александр Шойтов.     В 2023 году Россия поднялась на второе место по майнингу криптовалют. По оценке экспертов, в майнинге может быть использовано до 5 гигаватт электрической мощности, что позволит стране занять лидирующие позиции в отрасли, — сказал Александр Шойтов.   В середине февраля компания по добыче биткоинов BitRiver также обнародовала планы по запуску крупнейшего в России дата-центра, ориентированного на искусственный интеллект.   В РФ пока нет чётких правил по контролю майнинга. В конце апреля российские законодатели представили новую версию законопроекта, направленного на регулирования рынка добычи криптовалют. По словам одного из его авторов, правила могут вступить в силу уже в сентябре этого года.
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