What will happen if the all countries convert to cryptocurrency?

[Janation]

Crime will reduce as It will be more secure and more convenient when you walk in the streets as you will not bring cash anymore in which people are tempted to do bad things like stealing and hold-up. You are always walking with your assets with only passwords and account number in your mind that nobody can steal it from you anywhere you will go.

Crime will be the same since cryptocurrencies don't really reduce it.

Despite being more secure, hacks and scams are still a thing.

So better be careful, also some countries will not be aggreeing with cryptocurrencies being used in their country so keep on using fiat.

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[Vishnu.Reang]

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 problem is that not too many nations will be able to do this, even if they want to. Bitcoin is having controlled supply. Unlike the case with fiat currencies, the central banks won't be able to print out banknotes without any control. And if the central banks are unable to do this, then the government may face issues in balancing the budget.

[The Cryptologist]

If it was ever to happen then my first impression is that it looks very cool but at the same time there can be instance that paying will be difficult. Making the world only use crypto for payment is very possible but one needs a device that capable of storing the app of a wallet or payment app so many unfortunate people in life cannnot afford one like a smartphone. So I think, I propose that countries should encourage using crypto only on their highly urbanized cities.

[Janation]

If it was ever to happen then my first impression is that it looks very cool but at the same time there can be instance that paying will be difficult. Making the world only use crypto for payment is very possible but one needs a device that capable of storing the app of a wallet or payment app so many unfortunate people in life cannnot afford one like a smartphone. So I think, I propose that countries should encourage using crypto only on their highly urbanized cities.

If we are talking about now, I don't think it will be a good idea.

It will not make payment difficult or hard, it will be easy but there are still problems

What cryptocurrency we will be using? Transacting would have a lot of fees, the government might control the cryptocurrencies hence it is not decentralized. Taxes and hidden charges will be high, can the blockchain carry out the transactions? More users mean more transactions, can it handle that? I think it is better to stay to what we have nowadays.

[Renampun]

Making the world only use crypto for payment is very possible but one needs a device that capable of storing the app of a wallet or payment app so many unfortunate people in life cannnot afford one like a smartphone. So I think, I propose that countries should encourage using crypto only on their highly urbanized cities.

people in remote areas will find it very difficult to adopt the concept of payment via cryptocurrency
besides having to be connected to the internet, they also have to understand a little how to use a smartphone,
Unlike the case with people who live in cities, they are certainly able to use smartphones.

[poodle63]

Crime will reduce as It will be more secure and more convenient when you walk in the streets as you will not bring cash anymore in which people are tempted to do bad things like stealing and hold-up. You are always walking with your assets with only passwords and account number in your mind that nobody can steal it from you anywhere you will go.

Crime will be the same since cryptocurrencies don't really reduce it.

Despite being more secure, hacks and scams are still a thing.

So better be careful, also some countries will not be aggreeing with cryptocurrencies being used in their country so keep on using fiat.

If the crimes are dominated by robbery, it could definitely be reduced with the fact that every people not carrying their cash money but instead a digital money inside wallet which needs password to unlock but however, the robber or criminals will threaten your life instead.
By that, carrying cryptos in the streets is like a double edged sword. But, it will probably making the criminals lost the motivation of robbing due to being really complciated anyway.

[Brunus]

Electronic money is the farthest thing from cryptocurrecy that you can think of: it is centralized, under state control, and you can lock it at any time with a simple mouse click.
It is difficult to go from here to crypto. But they will tell us that they will do it.

[Ozero]

This does not make sense to discuss, since all countries will never switch to the use of cryptocurrency. The use of only cryptocurrency will never go to any state. A decentralized cryptocurrency can successfully walk in society only along with the national money of states. First of all, this is due to the high price volatility of such a cryptocurrency. However, not only this is the reason for this. The economy of the state can develop on the use of its money. A decentralized cryptocurrency for any state is not only someone else's money, but also "no man's money", which no state stands behind and which are not provided with anything. For any state, using them as your primary means of payment is simply dangerous.

[Luthfiyaaa]

I'm agree if we switch to cryptocurrency because it's easy and practical. but the disadvantage is, cryptocurrency can increasingly go up in price, or it can be said to be out of control. It can also have an impact on the price of staples if it often goes up in price. and not everyone knows cryptocurrency.

[bitcoinposts]

Most of countries  are coming up with various  mass adoption merchants and customer acceptance we can expect developed countries are first to adopt crypto currencies

[lonelygrimm]

if the country convert to cryptocurrency there will be a many benefits for the citizens and users including us, crypto can be used for payments and investments. but the disadvantage is, the country's economy will be increasingly difficult to manage because cryptocurrency is too volatile.

[BennyK]

All countries going crypto means adoption of cryptocurrency has reached its peak and it could also result in one thing, which is high demand for some particular coins which has been on the market already like Bitcoin, ETH, LTC, XRP etc. It will cause a revolutionary change in the entire cryptocurrency market cap.

[xabre]

If all country allowed convert to cryptocurrency maybe many country will getting much profit with bitcoin and alcoin, they can't use lower fee for export and import payment.

[Darklinkz]

Going digital worldwide with payments is inevitable so I know for sure that we are going to reach that phase. So if all countries convert to cryptocurrency then expect ease of transactions but not everyone but only majority of the population. Just visualize that moment just like how smartphones have taken the world that they dedicate half of their day surfing on the net.  So your question is essentially how the future will look like in the next 5-10 years.

[FlamingFingers]

That's gonna be awesome,  because by then it means massive adoption of cryptocurrency has taken place,  this will help in pushing up the whole total market cap of the whole cryptocurrency up,  

It's just a speculation though because I don't see all the whole countries switching  their conversion to cryptocurrency,  There will still be some countries that will not want to,  but in future majority of countries will accept it.

[seanskie18]

If all countries convert to cryptocurrency then that will be a great idea because crypto can be used as payment method to buy foods and etc. Hopefully this will happens co'z this will help us a lot, we can get benefits and profits if this will gonna happened.

[Btcvilla]

Fantastic price will be if all countries convert money to cryptocurrency, how much billion USD every hour will get higher price of bitcoin or altcoin  for second to second time, many people will join bitcoin and altcoin for investing money there,, but its less possible with many country still not allowed for bitcoin or altcoin make legal.

[hahay]

Fantastic price will be if all countries convert money to cryptocurrency, how much billion USD every hour will get higher price of bitcoin or altcoin  for second to second time, many people will join bitcoin and altcoin for investing money there,, but its less possible with many country still not allowed for bitcoin or altcoin make legal.

Moreover, it is unlikely that this will happen because of the resistance by the government itself which will make it difficult for many countries to convert it to crypto, and I don't think this is something that should be done because only with sustainable adoption is also sufficient for this market will growing bigger, compared to requiring many countries to convert it to crypto just to increase its value. I don't think it's an effective way if we really expect crypto to be used in many sectors.

[Ozero]

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?

I see no reason to discuss this topic, since no state will ever switch to using only cryptocurrencies. States will always use their national money, this is a mandatory sign of statehood. Cryptocurrency can only be used along with national money of states. Yes, and it is difficult to imagine how the value of cryptocurrency will be estimated if there is no more than the usual currency.

[Meowth05]

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?

All I can say is that were not yet ready simply because there are some places who don't even have an internet connection like in rural places in the 3rd world countries. Though it is really convenient in terms of speed of transactions and if it does excuted across the world it will be unfair for those who don't have connection.