What will happen if the all countries convert to cryptocurrency?

[srcnckr]

All countries that switch to using electronic money will be a great future for the cryptocurrency market. Then you will not need to carry cash but still be able to travel around the world only with the phone has his crypto wallet. I hope that the day that the world use cryptocurrency will not be far.

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[qwerty12]

If all countries convert their money to cryptocurrency, in principle there may be various benefits: simple efficiency of instant global electronic transactions, preventing forgery, recording and monitoring better transactions, no printing machines, etc.

But, there are major losses here. The first is that decentralization will be eliminated by "central digital currencies" and this will even be more centralized than the existing system. And another disadvantage is privacy. Cash is anonymous, giving people some freedom to spend money without having to worry about explaining their actions. But, crypto money released by the government will remove all privacy from your expenses.

[Angry_Bird]

In my opinion, although cryptocurrencies are convenient, it can't be good for economic if we stop using cash at all. Also in some situations it won't even be convenient.

[Akpuv]

I am not trying to over exaggerate here, but I believe the price of BTC will hit $100,000 if all countries accepts to convert to Bitcoin or cryptocurrency. Online businesses may benefit from it too.

[PrestonTrader]

The fact is that the question - if - can be said is resolved. now it's just a matter of time. Crypto-currency is quietly reclaiming its place.

[PrestonTrader]

I think everything will be more honest - than we say with banks. % of transfers will be small - cash will simply disappear from life. the development of progress will go by leaps and bounds.

[PrestonTrader]

I am not trying to over exaggerate here, but I believe the price of BTC will hit $100,000 if all countries accepts to convert to Bitcoin or cryptocurrency. Online businesses may benefit from it too.

that you are modest - if the whole world goes over to crypto-currency - the price of bitcoin will simply be prohibitive. but to use it unfortunately can not all - a third of the world's population do not own the skills of using the Internet. so that everything else will get to ones.

[Mr.grin]

I am not trying to over exaggerate here, but I believe the price of BTC will hit $100,000 if all countries accepts to convert to Bitcoin or cryptocurrency. Online businesses may benefit from it too.

that you are modest - if the whole world goes over to crypto-currency - the price of bitcoin will simply be prohibitive. but to use it unfortunately can not all - a third of the world's population do not own the skills of using the Internet. so that everything else will get to ones.

I don't know, maybe like everyone jumped into online business. that will make crypto prices rise, and reduce fiat value. well, of course the government won't let that happen for now. maybe the government will prohibit, or give strict rules for it.

[Tervelatuk]

I am not trying to over exaggerate here, but I believe the price of BTC will hit $100,000 if all countries accepts to convert to Bitcoin or cryptocurrency. Online businesses may benefit from it too.

that you are modest - if the whole world goes over to crypto-currency - the price of bitcoin will simply be prohibitive. but to use it unfortunately can not all - a third of the world's population do not own the skills of using the Internet. so that everything else will get to ones.

I don't know, maybe like everyone jumped into online business. that will make crypto prices rise, and reduce fiat value. well, of course the government won't let that happen for now. maybe the government will prohibit, or give strict rules for it.

i could not imagine if cryptocurrency accepted in countries.the usage of bitcoin could massively growth and everyone maybe has bitcoin as investment portofolio although in small amount.

[Muspion]

to be able to change the cryptocurrency payment must make the economic conditions in the country be good first and provide information about cryptocurrency in the country so that many people can use it and I think that will make the country very risky and maybe it can make the country a developing country

[upsidedown75]

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?

Do you have any reason as to why every country should convert to cryptocurrency? And in case you don’t know, there is no country making use of crypto, they still use fiat and none is making such plans to replace their currency with fiat.

I like Bitcoin a lot and it has really done much for us, but to make it a country’s currency, nope I’m not in support of that cause it’s likely to cause bigger problems than what we are seeing now.

[cctv0]

This is unlikely to be achieved. I don't think the number of countries can solve the problem. Only quality can solve the problem. For example, joining the cryptocurrency in the United States may be more meaningful than joining 20 African countries.

[ethereumhunter]

I don't think that we can easily to converting from cryptocurrency to local fiat because there are still not too many countries accepting crypto and use it as the second money. But there will be any advantages and disadvantages to that, and we could still guess without know what will happen. Although paying virtually will give us simplicity but still, we can only pay a few things by virtual, and I think we need to be careful because the thief can be on everywhere and they can do whatever they want and only securing our account that will help us from the thief.

[SnowAugustine]

i think if all countries using crypto, there are so much banks that are collapse, because with crypto we never need a bank because we have our own bank

and would that be a bad thing?

[cybernetik7]

In near future, digital money will overwhelm traditional money and governments are in progress to adopt regulations in order to comply with recent developments. By doing this, sending and receiving funds will become very fast and easy. It is going to lead to a growth in businesses and make life easier. We’ll see a cashless society.

Will this digital money be a cryptocurrency or not? It is too early to see which one will suppress the market. I think, crypto's will be in use and there will be a digital fiat money.

[julzcoinbit]

In near future, digital money will overwhelm traditional money and governments are in progress to adopt regulations in order to comply with recent developments. By doing this, sending and receiving funds will become very fast and easy. It is going to lead to a growth in businesses and make life easier. We’ll see a cashless society.

Will this digital money be a cryptocurrency or not? It is too early to see which one will suppress the market. I think, crypto's will be in use and there will be a digital fiat money.

You're right because the world technology is evolving and this changes is part of the evolutionary. On these days some countries already adopt cashless society together with using cryptocurrency and time will come it all countries will have it.

[33bitcoin]

I'm sure cash will be almost phased out in 20 years.  I dont think the governments will officially accept any decentralized cryptocurrency either.  They will most likely create their own that they have complete control so.  Then they will be able to print as much as they want each year according to their needs.  It will also be private so citizens can't see how much total monetary supply there actually is.

[liseff3]

i think if all countries using crypto, there are so much banks that are collapse, because with crypto we never need a bank because we have our own bank

Bank as a supplier of fiat currency (the product of a country's pride). The bank will forever remain and it cannot be demolished by anyone, as long as the country that protects it still exists, and the bank will still get a number of benefits from the transaction fees, which we spend, especially when we exchange cryptocurrency into fiat/conventional currencies, or when we buy cryptocurrency.

[Ucy]

I doubt most governments will allow their currencies to become real Cryptocurrency.  The immutablity and transparency of Blockchain will scare them off.
They'd probably create their own version of Cryptocurrency like Venezuelan petro or Cryptocurrencies that would enable them print money of thin air in total secrecy..

[East2011]

Most countries are not yet ready to convert into cryptocurrency. But if that happens. I think it will be an advantage for crypto lovers but what about those poor people who don't have any knowledge about crypto. And don't have any gadgets to use. How can they cope up with that big change? That will be a big advantage to them.