Does paper currency and coins have a future?

Question

Basically, do you think we will keep our banknotes/bills and coins for decades to come or do you think they will become obcelete because of credit/debit cards?

Answer 1

I certainly hope not. I use credit cards for almost every purchase. I imagine that someday every vendor will accept credit and debit cards so that people won't have to use cash. I find that credit is much faster, safer, and more convenient than cash and I just hate having loose change floating around. Economically speaking, pennies are virtually worthless because of inflation and due to the rising cost of metals they actually cost more to produce than they're actually worth (it costs about 1.4 cents to produce a penny). There has been a running debate about eliminating the penny and rounding all purchases to the nearest nickel. I'm sure paper currency and some coins have a role in the future but hopefully one that is more limited than what it has been.

Answer 2

Logically, there will always be a need for bills and coins due to the number of transactions which are small in nature. If you go to buy a cup of coffee and a donut which total under $2.00 are you going to charge?  You go to McDs for a McChicken, small fries and senior coffee total of which is under $3.00. Are you going to charge ? So it stands to reason that the cash transaction will never be passe.

Answer 3

Hard currency will NEVER go away as long as we have cheaters.

Hard currency can be used to protect ourselves from credit fraud.

Hard currency can also be used to hide business transactions, there fore hide the need to pay taxes.

If no politician was currupt, we would have already done away with hard currency.

Answer 4

I am already on a totally cashless method for receiving income and paying expenses.  Since I am positive I'm not unique in this respect, there must be millions like me.

I can see a day when pennies will become obsolete and if the economy keeps reaching for the sky, dimes and nickels would be the next to go.

Government agencies are already forcing their "clients" to have checks direct deposited to their banks and in some cases they are issuing debit cards for the amount of the welfare or food stamps.

However, if we did go to a cashless society, it would most difficult for the homeless and the low income individuals to handle their finances without cash.

So, NO, I don't see a day coming when cash will be totally eliminated!  How would you tip?  lol

Answer 5

In short Judgeth, I believe they'll become obsolete.

I believe as God's word shares, and it is apparent more and more everyday, the future is heading toward a time of a cashless society/world. It will be a worldwide system of starting with electronic banking such as credit/debit cards, used by the world for all transactions while being enforced through a one world religion/government.

I agree with the idea that it increases banking speed and efficiency using electronic systems, but it's only a means to an end for that which seeks its power

Much of the world we live in, if not already, is preparing for the removal of individual sovereign currency's. This is not the only area of sovereignty being lost, now, and in the future.

Your question is well justified, a quick look at our society causes one to see a rapid change apparently for convenience sake. (which in itself isn't a bad thing) it's the end result that has my attention.

I believe the move toward scripture prophetically being fulfilled is why I can't say sovereign currency is in our future decades.

Thanks for your time and question Judgeth and have a good day.

Answer 6

I can see plastic money taking over. Well I won't see it but I believe its heading that way.

Answer 7

not if your in the movie ''logans run'' it don't

Answer 8

acording to the maching god no... we all be given numbers at least that what was written in the bible

Answer 9

Hard currency will never totally go away.

Can you buy a tank of gas or a loaf of bread with a debit card when the power is out or credit machine is down?

I have lived through many, many Hurricanes and have found that during and after emergencies, in the cities and out in rural areas and even outside the CONUS folks demand cash and cash only (including gold, silver, precious stones and etc.)

If a transition is made to a total electronic currency society we are asking for trouble.

It’s kind of hard to put  

...01010101011100100101010101110100110...

in a piggy bank or in a shoe box.

Oh sure, the computer hackers and the credit card companies would be happy. d**n sure better pray there is no computer glitches ...POOF...there goes everyone’s money!