What will happen if the all countries convert to cryptocurrency?

[Romanianz]

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?

In this situation the impossible becomes reality and unlimited financial solutions will be available for everybody.

it is true that the financial condition in cryptocurrecy is currently not good but from financial topics without limits it is also impossible to happen but if the development of cryptocurrency is higher then all possibilities can occur.

[Natalim]

That would be great as this would reduce the high cost of transactions that people have to bear when making payments through Central Banks. Payments and transactions would also be faster if every country is legalizing the use of cryptocurrencies to make transactions. But honestly speaking i doubt if we would ever reach a stage where every country in the world would legalize cryptocurrencies to be used as payments for transactions.

I believe we want crypto adoption to be mainstream but it's just impossible to happen that it's all crypto in the online market.
Our digital currencies will still exist and that makes the market more healthy as everyone have different options, I just don't think we can ever replace fiat.

[dameh2100]

I think if all countries convert to cryptocurrency, the market can go bullrun and gradually increasing of price  in long period of time because many people will adopt it and can get benefits on it. It will happen because  Cryptocurrency can do a lot of things that can easily adopt by any country who have internet.

[Tylev]

If all countries convert to cryptocurrency it will lead to the increase of value of crypto currency. It also increase the demands of crypto which make it become more valuable. I also think more amazing things to be happen in crypto world if mass adoption continue to increase all over the world.

Here it is necessary to clarify what the expression means "if the states switch to cryptocurrency." If it means that the states will legalize cryptocurrency and will use it along with their national money, then indeed it will increase the level of economic development. If someone suggested that the states will be able to abandon their national money and switch to using cryptocurrencies exclusively, then an economic catastrophe will begin, because a normal market economy will be completely paralyzed. However, no state will ever make such a stupid step.

[yanetriwidia]

I think even if a country changes their currency with crypto then I will hear it might be destroyed sooner or later anyway, because macroeconomics must have a big effect on the original currency no longer cashless inflation from crypto can not be damed by anything
while the original currency can be calculated and estimated correctly it is rather horrifying if everything uses cashless (crypto)

[senin]

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?

No state will ever fully switch to the use of cryptocurrency. They will always support their national money, because they interact with the country's economy, and the cryptocurrency does not have such an opportunity. So far there are also big problems for the use of cryptocurrency by business structures due to the high price volatility of cryptocurrency. It is most beneficial when using it between citizens.

[akram143]

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?

if all the countries in this world converted into Bitcoin then the supply of Bitcoin was slightly not been enough for all the people in this world so it is not possible in the future also.

[Robotbitcoin22]

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?

if all the countries in this world converted into Bitcoin then the supply of Bitcoin was slightly not been enough for all the people in this world so it is not possible in the future also.

surely if all countries use bitcoin I think that is not possible, because most countries are developed with their own national currency and not thanks to bitcoin. yes, it might be side by side with fiat money but only a few countries.

[kemetz]

basically, if we look at / read history in the past it has been predicted that in the future there will be no time when the current banknotes that we use will not be of any value and we will all return to using gold as a transaction tool later.
perhaps with the technological developments that have taken place at this time that cryptocurrency is the beginning of the payment means that we use and will later return to gold with crypto coin nominal.
what is clear is that there are many benefits that we can get by using crypto coins as payment and loss, maybe a problem with hackers who will get our coins by breaking into our wallets.

[Kimonoe]

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?

if all the countries in this world converted into Bitcoin then the supply of Bitcoin was slightly not been enough for all the people in this world so it is not possible in the future also.

surely if all countries use bitcoin I think that is not possible, because most countries are developed with their own national currency and not thanks to bitcoin. yes, it might be side by side with fiat money but only a few countries.

if for developing countries maybe not all convert bitcoin, with their different internal problems. but there are some countries that are experiencing a crisis instead of changing their currencies with bitcoin, like Venezuela

[shesheboy]

if all the countries in this world converted into Bitcoin then the supply of Bitcoin was slightly not been enough for all the people in this world so it is not possible in the future also.

it has been said that there were only 21million bitcoin supply and the number of people around the world is close to billions  but a one whole bitcoin can still be divided into smaller chunks that are called mbtc and sats .

not all can afford to buy a one whole bitcoin , so i think the 21 million bitcoin supply is already enough for everyone  .  people do also sell and some will buy , so the bitcoins will still circulate and everyone has the ability to own and use it  .

[haidil]

if this happens, of course, it will have a good impact on the crypto world, we don't have to carry money that is vulnerable to theft, we just have to carry our money and do transactions more practically.

[hahahafr]

If all the nations really adopt the use of cryptocurrencies it would improve the speed at which transactions are made among peers, businessmen and in organizations. Also, users would be less burdened with high cost of transaction fee. The only disadvantage that i have about the adoption of cryptocurrencies is to educate the masses to understand the rudiments of making a transaction in cryptocurrencies so that we don't get people making a whole lot of mistakes whiles making transactions.

[Airbuxf]

It is possible in future because printing cash is most costly production of money now. Doing blockchain monay as country's currency get many savings in economy and it can move public money somewhere else or effect in tax reduction.

[blockchainwriters]

sooner or later we may see cryptocurrencies as a major transaction mostly online transactions and merchant transactions we can already see japan south Korea and other countries are adopting to cryptocurrencies

[A L I E N]

If all the nations really adopt the use of cryptocurrencies it would improve the speed at which transactions are made among peers, businessmen and in organizations. Also, users would be less burdened with high cost of transaction fee. The only disadvantage that i have about the adoption of cryptocurrencies is to educate the masses to understand the rudiments of making a transaction in cryptocurrencies so that we don't get people making a whole lot of mistakes whiles making transactions.

It will not happen as European countries, the USA, Australia, and Canada cooperate with the countries with the poor economy. They cannot use cryptocurrencies for these operations (the other side can refuse it).

[awik p]

If all the nations really adopt the use of cryptocurrencies it would improve the speed at which transactions are made among peers, businessmen and in organizations. Also, users would be less burdened with high cost of transaction fee. The only disadvantage that i have about the adoption of cryptocurrencies is to educate the masses to understand the rudiments of making a transaction in cryptocurrencies so that we don't get people making a whole lot of mistakes whiles making transactions.

It will not happen as European countries, the USA, Australia, and Canada cooperate with the countries with the poor economy. They cannot use cryptocurrencies for these operations (the other side can refuse it).

right, maybe this is not a problem for developed countries that have good facilities and human resources. but for countries that have not met these requirements it will be difficult to follow them, so that it takes time to be used throughout the country

[blockchainwriters]

if a country use cryptocurrencies which is definitely a good move we may see in the next 50 years or so we may see less inflation and more security of funds and even government can also track the currency and less taxation many positive developments we can see in every country economy

[fiulpro]

Hackers will be at major advantage and there will be problems regarding online security , people would have to employ more engineers to strengthen it.

The old people and the very young one's won't be able to understand what is happening and will feel left out .

This major change will make it difficult for the economics of a society to be evaluated since there won't be any one central currency for everyone but rather it will be a global currency and there won't be anything such as a countries economy it will be the world's economy then .

We would loose all boundaries and will become a one big nation eventually is what I think.

[iv4n]

What will happen WHEN all the countries adopt crypto is not hard to imagine! We will have better arranged system! There are frauds in crypto by the people who are using this technology in the early stages to scam people who are here for the first time, but as the time is passing people will learn whom to trust.
For me it`s not question "if" it`s "when". I believe in better world with crypto in charge, than with this fucking broken system.