What will happen if the all countries convert to cryptocurrency?

[coin-investor]

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 have no doubts that it's going to happen, the advantages outweigh the disadvantages, we are already using ATM to all our transactions online and it will happen to Cryptocurrency, but we still need fiat, to transact because it is internet-based and not all country and every corner of this world has internet access, here in our country there are only a few ATM-based Cryptocurrency, but in the next 5 years if the adoption continues we will have more around the world.

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[blckhawk]

If there's nothing to govern this mode of payment and will be used widely across the world, then chances are more thefts and illegal activities would go untraceable. No insurances from anyone since there's no one to regulate cryptocurrencies. It's controlled by a distributed network and identifying who transacts to whom would be difficult. In case of its advantages, using crypto would further make transactions faster and limitless and since no one controls it, no additional fees to pay as it cuts the middleman out of the equation.

[mamahdedeh]

If that happens then all fiat money will no longer be valid in the world, everyone will use Cryptocurrency as a payment method for transactions and I think it will be difficult to happen. Because not everyone understands the world of Crypto. Even only a few people in this world who understand Crypto well.

maybe it can happen but not in the near future. many interests refuse to legalize bitcoin in many countries. but if all countries have legalized it, I think the supply of bitcoin will decrease further, due to many factors. this will make the price very high, because it is caused by shrinking supply and increasing demand

[Btcvilla]

If all county convert using cryptocurrency maybe crypto become higher price, cash money will have low transaction every day if all country have allowed cryptocurrency. Some time I want to see with many country want to adopt bitcoin or altcoin for digital currency payment to bring easy way for many transaction kinds.

[Magkirap]

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 think making all the payment digital can make every transaction convenient. Also, I believe that someday everybody will accept these cryptocurrencies. However, we needed cash today since a lot of things are dependent on tangible money. One disanvantage of using crypto is the chance that it will change its value through time and this was not good especially when the price dumps. The only thing we should do now is to support this crypto so that it will attract new investors

[AicecreaME]

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.

I bet fiat would be useless since all of the people around the world will start to use bitcoin too, and the cashless society we've been dreaming of for so long would finally happen if countries will use cryptocurrencies instead of fiat. Plenty of things would be implemented, like putting WIFIs in all public place because we need that in order to use cryptocurrency, opening our wallets and sending transaction in a fastest way than before.

[djselery]

It is not going to happen at least in the near future. Most governments around the world are still using mainly fiat currencies and banking systems for financial purposes. However, assuming that happened, it is sure that the prices of Bitcoin and most promising altcoins will go to the moon in a short amount of time.

[lab rat hoax]

All countries will sooner or later use crypto currency. This is inevitable, so what happens next?
The first people to invest in crypto money will probably be the richest people of those days, because the supply is limited and prices will boom when the whole world moves here.
The need for internet will increase. because you will always need to stay connected to the internet when paying

[bitzizzix]

If all countries convert to cryptocurrency, it will be good news for cryptocurrency, because it will increase the price of cryptocurrency and each country will facilitate cryptocurrency for transactions and internet networks will be strengthened and expanded so that all can be accessed because using cryptocurrency requires the Internet.
but that does not mean that cryptocurrency can replace fiat currencies in every country and both will still be used together.

[ropyu1978]

many people consider it a good thing but we don't know the situation will come, that is, began to question the concern about the stability affected by it
maybe if anyone becomes a pioneer and gets success it is very open for other countries to follow the steps

[Shinpako09]

That's a real massive adaptation and demands will increase resulted into skyrocket price. But of course I don't bother to think about it because it's impossible to happen. Maybe number of countries accepting crypto will increase in the near future but going to convert in crypto, for me it's impossible. Even technology is gettng better every year, I don't think one country will abandoned and won't used a fiat currency. Still, it's more convenient and faster to used fiat physically.

[Jorge158]

If the whole world goes crypto, then we can strongly say that the much anticipated future is here and that cryptocurrency has now finally achieved its mass adoption. It will be an incredible experience because the entire market cap will rise massively as the demand keeps coming.

[ReiMomo]

That's a real massive adaptation and demands will increase resulted into skyrocket price. But of course I don't bother to think about it because it's impossible to happen. Maybe number of countries accepting crypto will increase in the near future but going to convert in crypto, for me it's impossible. Even technology is gettng better every year, I don't think one country will abandoned and won't used a fiat currency. Still, it's more convenient and faster to used fiat physically.

Well, that's good to hear. If that will happen it will be a good help to millions of people all over the world because it is less hassle for them rather than bringing fiat which is not safe to the theif. But the disadvantage is that if it is the value is still volatile then, We can have a hard time to buy if the price drops down so much better to make the value more stable. So, I think the local currency will not replace digital currency but the good thing is if they are working together.

[Vinalians]

I don't think all the countries in the world will survive on this especially those who are not that technology updated. There are still many people around the world who doesn't know what bitcoin or any cryptocurrency is right. So they will be the ones who will suffer if this will happen. Cryptocurrency needs time to be known around the world and once that happen for sure the society will easily adopt the when all countries convert into cryptocurrency.

[Google+]

if many countries exchange their assets for cryptocurrency it will have a good impact on the price of cryptocurrency but will provide a very high risk for countries participating in the exchange of assets with cryptocurrency, for the market side the price of coins will soar high because demand is increasing but for a the country can provide a threat of bankruptcy because it is certain that there will be a trade war.

[ice098]

I think it never gonna happen. But if does, banks will be close, government will put a very high taxes in every transaction that will be made ,they can regulate the flow of cryptocurrency because they finally legalized it  , it could be many illegal transaction will be made for things that cannot be bought so easily, im sorry but this one is true.

[supercanada1]

I don't think all the countries in the world will survive on this especially those who are not that technology updated. There are still many people around the world who doesn't know what bitcoin or any cryptocurrency is right. So they will be the ones who will suffer if this will happen. Cryptocurrency needs time to be known around the world and once that happen for sure the society will easily adopt the when all countries convert into cryptocurrency.

The world can rely on crypto currencies as an additional or mainstream currency piled up with local currency. If we stay realistic, not everyone country in the world is using advanced forms of gadgets or technology. For their convenience and reliability, we need provide them both options i.e. digital or paper currency. Educated people can use crypto.

[Omega Weapon]

If all the countries convert to cryptocurrency then it will be more convenient for them to do their daily activities. The flow of their task will be much smoother because they will not use paper anymore and they will go full digital through cryptocurrency. All their records will be on the cloud and for sure it is more secure because they will build a lot of nodes.

They can already do that with fiat so it is unlikely they will want to use cryptocurrencies just for that reason alone, besides they are not going to want to abandon their fiat and will only do it under extreme circumstances like some countries that had such problems with their currency that they have decided to adopt the US dollar as their official currency, but even those countries after a period of stability have tried to once again release its own currency and that is because it gives them too much power over the economy, a power they do not want to give up.

[Apes]

if a country wants to change its currency from fiat to cryptocurrency, to connect app to the blockchain network.
they should pay attention to improve their internet network coverage and security
because cryptocurrencies payment cannot be separated from smartphones that need internet access anywhere when making payments.

[dmamigo]

This would be great, but unfortunately few countries are planning to ban all the other cryptos and introduce an implement only their own crypto. Anyway, this would also be great but banning other cryptos will be the same and the main benefits of this technology will not be used.

Moreover, they will never stop using their fiat and not all people will be using these as all won't be able to.

But if this happens, then I personally believe this is going to change the transaction scenario. The benefits will not be less than more. Also, this is a very far vision in the future, so technology will innovate new things with more benefits.