Bitcoin Forum
November 16, 2018, 04:48:45 AM *
News: Latest Bitcoin Core release: 0.17.0 [Torrent].
 
   Home   Help Search Login Register More  
Pages: « 1 [2] 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 »  All
  Print  
Author Topic: What will happen if the all countries convert to cryptocurrency?  (Read 3049 times)
Kemarit
Legendary
*
Offline Offline

Activity: 1078
Merit: 1087


View Profile
September 11, 2018, 04:27:49 PM
 #21

Now that more and more countries are starting to go cashless (http://www.bbc.com/capital/story/20180427-does-a-cashless-society-benefit-everyone), is it possible that we also start converting to cryptocurrency?

Yes, there's that possibility that countries might go full crypto, but it doesn't mean that fiat will be obsolete. Crypto and fiat can go stand side-by-side, IMHO. Just look at Japan right now, they have both the Yen and crypto as payment methods. But you also need to look at how many countries are hostile to crypto, perhaps we might see some countries adopt while majority will remain fiat based.

If that happens, what do you think are the advantages and disadvantages? Paying virtually is very convenient for me as I do not have to bring cash and it prevents petty theft but what is the disadvantage?


Crypto offers security, just like you said you don't need to bring cash, just your mobile phone to buy stuff in groceries. And we might see bitcoin fees much lower if LN + Segwit will be fully implemented by merchants.

One disadvantage is that you always need to be connected to the Internet at some point to processed your transactions.

Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1542343725
Hero Member
*
Offline Offline

Posts: 1542343725

View Profile Personal Message (Offline)

Ignore
1542343725
Reply with quote  #2

1542343725
Report to moderator
1542343725
Hero Member
*
Offline Offline

Posts: 1542343725

View Profile Personal Message (Offline)

Ignore
1542343725
Reply with quote  #2

1542343725
Report to moderator
senin
Full Member
***
Offline Offline

Activity: 504
Merit: 136


JOIN THE NEXT MEGATREND IN CRYPTO!


View Profile
September 11, 2018, 04:40:49 PM
 #22

Now that more and more countries are starting to go cashless (http://www.bbc.com/capital/story/20180427-does-a-cashless-society-benefit-everyone), is it possible that we also start converting to cryptocurrency? If that happens, what do you think are the advantages and disadvantages? Paying virtually is very convenient for me as I do not have to bring cash and it prevents petty theft but what is the disadvantage?

It is necessary to clearly understand that states can allow the circulation of decentralized crypto currency, but they will never actively support it and make mutual settlements in it. International trade at the state level is unlikely to be widely used in crypto-alaite. Decentralized crypto currency will mainly be used by citizens. At the country level, decentralized crypto currency can only go in parallel with national money. Only in this way will the negative impact of large volatility of the crypto currency on the economy of the country not be manifested.

[ DESICO ] A PLATFORM TO ISSUE AND TRADE SECURITY TOKENS
JOIN THE NEXT MEGATREND IN CRYPTO!
      [ JOIN OUR TELEGRAM COMMUNITY ]         WEBSITE FACEBOOK TWITTER
Findingnemo
Member
**
Offline Offline

Activity: 364
Merit: 15

Keep it simple,stupid!


View Profile
September 11, 2018, 04:46:57 PM
 #23

All the governments will go poor but most of their citizen will be rich if they allow cryptos in all the places but I don't think any government will allow crypto currency in the place of their local fiat since they are running their governments only with the tax money.

mostkey
Sr. Member
****
Offline Offline

Activity: 728
Merit: 253



View Profile
September 11, 2018, 05:06:45 PM
 #24

In fact, more and more people use cash because it is convenience without having to get a loss, so far if cryptocurrency is to be what you want, there are some risks that we face are price fluctuations that can change quickly without thinking, yes it is the panic that many people experience now, cryptocurrency will be very suitable if it becomes a long-term investment for me because for trading it is very risky, the advantages and disadvantages are very clear in the current journey, opportunities are still wide open if the government wants to control to avoid things that harming a lot of people.
kaya11
Full Member
***
Offline Offline

Activity: 392
Merit: 103


JOIN THE NEXT MEGATREND IN CRYPTO


View Profile
September 11, 2018, 05:17:44 PM
 #25

If ever that will happen, I guess in my opinion Bitcoin and other decentralized crypto currencies will drastically fall or even will lose its value. Crypto currencies will battle with the version of the government-a centralized version therefore will regain its control over the popularity of decentralize such as Bitcoin and ether. Governments are making their own for one of these reasons, and another is the non stopping competency which each others economy, no one's wanting to be left behind.

[ DESICO ] A PLATFORM TO ISSUE AND TRADE SECURITY TOKENS
JOIN THE NEXT MEGATREND IN CRYPTO!
      [ JOIN OUR TELEGRAM COMMUNITY ]         WEBSITE FACEBOOK TWITTER
BorisVirla
Newbie
*
Offline Offline

Activity: 134
Merit: 0


View Profile
September 11, 2018, 05:34:20 PM
 #26

There will be a battle for the right to be the main one in cryptography.
Impulseboy
Jr. Member
*
Offline Offline

Activity: 182
Merit: 4


View Profile
September 11, 2018, 05:35:42 PM
 #27

It is possible that we convert to cryptocurrency since we are now going cashless. However, I am not sure that every single country will use cryptocurrency in the near future because some of them have not heard cryptocurrency or bitcoin before, let alone have access to the internet. But for countries that are already going cashless, it is only a matter of time before they start accepting bitcoins more.
usekevin
Hero Member
*****
Offline Offline

Activity: 840
Merit: 503



View Profile
September 11, 2018, 05:59:22 PM
Merited by gatti (1)
 #28

Now that more and more countries are starting to go cashless (http://www.bbc.com/capital/story/20180427-does-a-cashless-society-benefit-everyone), is it possible that we also start converting to cryptocurrency? If that happens, what do you think are the advantages and disadvantages? Paying virtually is very convenient for me as I do not have to bring cash and it prevents petty theft but what is the disadvantage?


Every creation had advantage and disadvantage .So cryptocurrency is similar to this. Cryptocurrency had huge advantage and some disadvantage. Advantage is your are free from lockers and money storage .You can store your entire earning in terms of cryptocurrency in your single wallet.Disadvantage of cryptocurrency is hacking issues.Some of the people are claiming, their wallet is hacked.You should secure your wallet with two factor authentication.

                 ▄███▄
                ███████░
               █████████▄
              ████████████
             ███████████▓▓▓░
            ███████████▓▓▓▓▓
          ░███████████▓▓▓▓▓░░░
         ░███████████▓▓▓▓▓░░░░░
        ░███████████▓▓▓▓▓░░░░░░░
       ░███████████▓▓▓▓▓░░░░░░░░░░
      ░███████████▓▓▓▓▓░░░░░░░░░░░░
    ░░███████████▓▓▓▓▓░░░░░░░░░░░░░░
    ░███████████▓▓▓▓▓░░░░░░░░░░░░░░░░
██
██
██
██
██
██
██
.............PayPal  of   Cryptocurrencies ...........
  Blockchain Protocol + 12 Working Modules - Use Crypto as Cash
██
██
██
██
██
██
██
...........Invest Now...........
     ▄████████████████████████▄
    ███████████████████████████▌
    ████████████████▀▀ ---¬█████
    ███████████████        █████
    ██████████████    ▄▄▄▄▄█████
    ██████████████    ▀█████████
    ██████████▌            █████
    ██████████▌            █████
    ██████████████    ██████████
    ██████████████    ██████████
    ██████████████    ██████████
    ▐█████████████    █████████
      ▀▀▀▀▀▀▀▀▀▀▀▀    ▀▀▀▀▀▀▀
▄▓█████████████████████▓▓▄
▓██████████████████████████▌
███████████████████▓▓▀  ▓██▌
██████████████▓▀▀       ▓██▌
████████▓▀▀      ▄█    ▐███▌
███▓▀        ▄▄▓▀      ▓███▌
███▓▄▄▄   ▄▓█▓         ████▌
████████▓ ▓▌          ▓████▌
█████████▓    ▄       █████▌
██████████▌ ▄▓██▓▄   ▐█████▌
███████████████████▓▓██████▌
▐██████████████████████████
  ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
▄███████████████████▄
██████████████████████▌
██████████████████████▌
████████████     █▀███▌
███   █████        ▐██▌
███               ▐███▌
███               ████▌
████             █████▌
█████▄▄         ██████▌
████         ▄████████▌
██████████████████████▌
██████████████████████▌

    ██▄▄             ▄███▄
    ███████▄        ▄████████▄▄
    ██████████     ████████████▌
    ███████████▄ ▄████████████░░
    ████████████████████████░░░░
    ███████████████████████░░░░░
    █████████████████████░░░░░░░
    █████████   ▀▀███████░░░░░░░
    █████████        ▀░░░░░░░░░░
       ▀▀████             ░░░░░░
           ▀▀                 ░░
gabmen
Hero Member
*****
Offline Offline

Activity: 966
Merit: 524

★YoBit.Net★ 350+ Coins Exchange & Dice


View Profile
September 11, 2018, 06:50:57 PM
 #29

Now that more and more countries are starting to go cashless (http://www.bbc.com/capital/story/20180427-does-a-cashless-society-benefit-everyone), is it possible that we also start converting to cryptocurrency? If that happens, what do you think are the advantages and disadvantages? Paying virtually is very convenient for me as I do not have to bring cash and it prevents petty theft but what is the disadvantage?


Every creation had advantage and disadvantage .So cryptocurrency is similar to this. Cryptocurrency had huge advantage and some disadvantage. Advantage is your are free from lockers and money storage .You can store your entire earning in terms of cryptocurrency in your single wallet.Disadvantage of cryptocurrency is hacking issues.Some of the people are claiming, their wallet is hacked.You should secure your wallet with two factor authentication.

Well more countries adopt cashless options probably but i don't think a lot would go entirely cashless. If they do, they have to be pretty established that majority of thelir population can use digital money. Of course going pure cashless has it's benefits but there's also some downsides to consider.

Oceat
Sr. Member
****
Offline Offline

Activity: 770
Merit: 255


The Exchange for EOS Community


View Profile
September 11, 2018, 07:12:21 PM
 #30

Now that more and more countries are starting to go cashless (http://www.bbc.com/capital/story/20180427-does-a-cashless-society-benefit-everyone), is it possible that we also start converting to cryptocurrency? If that happens, what do you think are the advantages and disadvantages? Paying virtually is very convenient for me as I do not have to bring cash and it prevents petty theft but what is the disadvantage?

It might happen soon and i'm pretty sure that the value of each bits is more than the value today.
The advantages of it is that, it could be faster than to transact than the banking system today and i know there is new regulations that will going to implement to us in the system before we can use the crypto currency freely in the future.

But this kind of thought is too futuristic to happen soon in our life and maybe it will happen after 20-50 years from now. I don't know what kind of technology could someone has to create during that time but i'm pretty sure it's an amazing technology.


                           ▄▄█▌
                       ▄▄██▀▀█▌
                    ▄██▀▀    █▌
 ▄              ▄▄██▀    ▄▀  █▌
▐███▄▄         ▐█▀     ▄█    █▌
▐█▌ ▀▀██▄      █▌      █ ▄▀  █▌
▐█▌    ▀▀██▄▄  █▌    ▄█▀▀    █▌
▐█▌   ▄    ▀██▄█▌  ▄█▀     ▄██
▐█▌   ▀█     ▀██▌ ▄█    ▄▄██▀
▐█▌  ▄  ▀▄    ▐█▌▄█ ▄▄██▀▀
 ██   ▀▀▄█▄   ▐███▄█▀▀
  ██▄     ▀█  ▐█▀▀
   ▀▀██▄▄   █ ▐█▌
       ▀▀██▄▄███
           ▀▀▀█▌
EOSex
EOS Exchange


   The Exchange for the EOS Community!   

███████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████
ICO: 15th October to 20th November


                           ▄▄█▌
                       ▄▄██▀▀█▌
                    ▄██▀▀    █▌
 ▄              ▄▄██▀    ▄▀  █▌
▐███▄▄         ▐█▀     ▄█    █▌
▐█▌ ▀▀██▄      █▌      █ ▄▀  █▌
▐█▌    ▀▀██▄▄  █▌    ▄█▀▀    █▌
▐█▌   ▄    ▀██▄█▌  ▄█▀     ▄██
▐█▌   ▀█     ▀██▌ ▄█    ▄▄██▀
▐█▌  ▄  ▀▄    ▐█▌▄█ ▄▄██▀▀
 ██   ▀▀▄█▄   ▐███▄█▀▀
  ██▄     ▀█  ▐█▀▀
   ▀▀██▄▄   █ ▐█▌
       ▀▀██▄▄███
           ▀▀▀█▌
WHITEPAPER
BTC                          ▄▄▄
                    ▄▄▄██████
              ▄▄▄█████▀▀████▌
        ▄▄▄████████▀ ▄██████
  ▄▄▄██████████▀▀  ▄███████▌
▀███████████▀   ▄██████████
   ▀▀▀███▀    ▄███████████▌
        █▌  ██████████████
        ▐█ ██████████████▌
         █████▀ ▀████████
          ██▀      ▀████▌
                      ▀▀
             ▄████▄▄   ▄
█▄          ██████████▀▄
███        ███████████▀
▐████▄     ██████████▌
▄▄██████▄▄▄▄█████████▌
▀████████████████████
  ▀█████████████████
  ▄▄███████████████
   ▀█████████████▀
    ▄▄█████████▀
▀▀██████████▀
    ▀▀▀▀▀
BitCryptex
Sr. Member
****
Offline Offline

Activity: 392
Merit: 374


Polish translation service https://bit.ly/2K7snsh


View Profile WWW
September 11, 2018, 09:02:05 PM
 #31

Crypto offers security, just like you said you don't need to bring cash, just your mobile phone to buy stuff in groceries. And we might see bitcoin fees much lower if LN + Segwit will be fully implemented by merchants.

One disadvantage is that you always need to be connected to the Internet at some point to processed your transactions.

The Internet connection won't be an issue in the future since all mobile plans are becoming more and more cheaper. The Internet is widely available in Europe for everyone and this is very unlikely to change. Small stores will have to use the Lightning Network or any other off-chain solution in order to benefit from low fees and encourage people to do their shopping there. We might see some kind of NFC card which will be able to sign a transaction and send it to the terminal.

Dreamchaser21
Full Member
***
Offline Offline

Activity: 448
Merit: 105


View Profile
September 11, 2018, 09:13:30 PM
 #32

Now that more and more countries are starting to go cashless (http://www.bbc.com/capital/story/20180427-does-a-cashless-society-benefit-everyone), is it possible that we also start converting to cryptocurrency? If that happens, what do you think are the advantages and disadvantages? Paying virtually is very convenient for me as I do not have to bring cash and it prevents petty theft but what is the disadvantage?

The disavantages is that, this is a decentralized market and government has no control over this one so technically we will not convert to cryptocurrency. Most of the countries will just regulate cryptocurrency, but it will still depend on you whether you will still buy coins or you will stick with your cash.
yuzefa
Newbie
*
Offline Offline

Activity: 79
Merit: 0


View Profile
September 11, 2018, 09:16:28 PM
 #33

I can't guess anything if it really happens. The scenario will be really weird, almost everything could happen. Btw I don't think it could really happen, not all country together.. that's sure.
Daseento
Jr. Member
*
Offline Offline

Activity: 207
Merit: 2


View Profile
September 11, 2018, 10:23:53 PM
 #34

Let's assume this come into reality. Then we early adopters of the system will become the new world billionaire playing the role of Bill Gates and others. But seriously, fiat will always be needed for transaction because the whole world is not digital yet and government will never want to lose its control over monetary and fiscal policy.

IOVO | INTERNET OF VALUE OMNILEDGER
# THE FIRST DECENTRALIZED HUMAN VALUE BLOCKCHAIN NETWORK
Finestream
Hero Member
*****
Offline Offline

Activity: 1050
Merit: 502


BITSLER.COM! The best Gambling site NOW*


View Profile
September 11, 2018, 10:42:06 PM
 #35

Let's assume this come into reality. Then we early adopters of the system will become the new world billionaire playing the role of Bill Gates and others. But seriously, fiat will always be needed for transaction because the whole world is not digital yet and government will never want to lose its control over monetary and fiscal policy.
I think if all countries will adopt cryptocurrency,all transactions will be cashless making them more easy and convenient to use.But i believe leaving fiat currencies won't be that easy knowing lot of people  still prefer to use them for their daily transactions.

.BITSLER.                 ▄███
               ▄████▀
             ▄████▀
           ▄████▀  ▄██▄
         ▄████▀    ▀████▄
       ▄████▀        ▀████▄
     ▄████▀            ▀████▄
   ▄████▀                ▀████▄
 ▄████▀ ▄████▄      ▄████▄ ▀████▄
█████   ██████      ██████   █████
 ▀████▄ ▀████▀      ▀████▀ ▄████▀
   ▀████▄                ▄████▀
     ▀████▄            ▄████▀
       ▀████▄        ▄████▀
         ▀████▄    ▄████▀
           ▀████▄▄████▀
             ▀██████▀
               ▀▀▀▀
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄            
▄▄▄▄▀▀▀▀    ▄▄█▄▄ ▀▀▄         
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄      
█  ▀▄▄  ▀█▀▀ ▄      ▀████   ▀▀▄   
█ █▄  ▀▄   ▀████       ▀▀ ▄██▄ ▀▀▄
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
█  ▀▀       ▀▄▄ ▀████      ▄▄▄▀▀▀  █
█            ▄ ▀▄    ▄▄▄▀▀▀   ▄▄  █
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
█ ▄▄   ███   ▀██  █           ▀▀  █ 
█ ███  ▀██       █        ▄▄      █ 
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀  
▀▄            █        ▀▀      █  
▀▀▄   ███▄  █   ▄▄          █   
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀    
▀▀▄   █   ▀▀▄▄▄▀▀▀         
▄▄▄▄▄▄▄▄▄▄▄█▄▄▀▀▀▀              
              ▄▄▄██████▄▄▄
          ▄▄████████████████▄▄
        ▄██████▀▀▀▀▀▀▀▀▀▀██████▄
▄     ▄█████▀             ▀█████▄
██▄▄ █████▀                ▀█████
 ████████            ▄██      █████
  ████████▄         ███▀       ████▄
  █████████▀▀     ▄███▀        █████
   █▀▀▀          █████         █████
     ▄▄▄         ████          █████
   █████          ▀▀           ████▀
    █████                     █████
     █████▄                 ▄█████
      ▀█████▄             ▄█████▀
        ▀██████▄▄▄▄▄▄▄▄▄▄██████▀
          ▀▀████████████████▀▀
              ▀▀▀██████▀▀▀
            ▄▄▄███████▄▄▄
         ▄█▀▀▀ ▄▄▄▄▄▄▄ ▀▀▀█▄
       █▀▀ ▄█████████████▄ ▀▀█
     █▀▀ ███████████████████ ▀▀█
    █▀ ███████████████████████ ▀█
   █▀ ███████████████▀▀ ███████ ▀█
 ▄█▀ ██████████████▀      ▀█████ ▀█▄
███ ███████████▀▀            ▀▀██ ███
███ ███████▀▀                     ███
███ ▀▀▀▀                          ███
▀██▄                             ▄██▀
  ▀█▄                            ▀▀
    █▄       █▄▄▄▄▄▄▄▄▄█
     █▄      ▀█████████▀
      ▀█▄      ▀▀▀▀▀▀▀
        ▀▀█▄▄  ▄▄▄
            ▀▀█████
[]
hildacitra
Member
**
Offline Offline

Activity: 330
Merit: 10


View Profile
September 11, 2018, 10:52:23 PM
 #36

Now that more and more countries are starting to go cashless (http://www.bbc.com/capital/story/20180427-does-a-cashless-society-benefit-everyone), is it possible that we also start converting to cryptocurrency? If that happens, what do you think are the advantages and disadvantages? Paying virtually is very convenient for me as I do not have to bring cash and it prevents petty theft but what is the disadvantage?


It sounds good but it will be a big problem around the world. There will be a global economic crisis and even global economic war. It has many impacts to the world economic stability, all countries must lose their income from the trading commodity, taxation from import and export things, and etc. It happens because people no need to pay taxes of their purchasing and other transactions due to the free system of crypto. It will be a flaming everywhere.

Tellek Garing
Full Member
***
Offline Offline

Activity: 216
Merit: 100


View Profile
September 11, 2018, 11:14:25 PM
 #37

it is very difficult to make it happen because not all countries agree with what you think, every country has a certain authority and also different capabilities in every country so to realize a cryptocurrency I think not all countries can do that
7Dyoknga5
Jr. Member
*
Offline Offline

Activity: 210
Merit: 1

dApps Development Automation Platform


View Profile
September 11, 2018, 11:25:56 PM
 #38

The time when countries convert into cryptocurrencies is the time when governments were able to regulate crypto's.

Most of the countries concern is about their government able to monitor transactions so they could provide security for their people.

▬▬▬▬▬▬▬⬢          Buddy          ⬢▬▬▬▬▬▬▬
Decentralized Development Automation Platform
▬▬▬▬▬▬▬⬢ token.buddy.works ⬢▬▬▬▬▬▬▬
A.SanchezNo7
Newbie
*
Offline Offline

Activity: 252
Merit: 0


View Profile
September 12, 2018, 12:07:11 AM
 #39

I think, if all countries convert to use cryptocurrency, then the world economy and the national economy will no longer boundaries. All payments, exchanges and dealers... are through the cryptocurrency exchanges. This idea is very good but very difficult to implement in the current condition because of the difficult control of cryptocurrency. As this is now a lot of governments have yet to accept cryptocurrency.
leeheidrick
Newbie
*
Offline Offline

Activity: 103
Merit: 0


View Profile WWW
September 12, 2018, 12:13:13 AM
 #40

I think the loss that you will get is that the money you convert to cryptocurrency will decrease or increase because the cryptocurrency price can change at any time because of fluctuations.
Pages: « 1 [2] 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 »  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!