What will happen if the all countries convert to cryptocurrency?

[Duzter]

In my own opinion, since cryptocurrency is decentralized there would be a problem when everyone in the world have converted to cryptocurrency because taxes would be no more, so there would be lack of funds on making projects or establishments such as bridges, schools, hospitals, roads, highways, and etc.

Even now for the taxes paid by common people if we ask whether the people are getting all the basic support from the governments, the answer will be no. When things go decentralized, it doesn't mean people won't be taxed. As the network gives the pseudonyms access it is difficult to tax the people who are getting benefited. There are countries that are into development even without collecting taxes from the public.

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[btc78]

the government will not be fully able to replace the existing currency into crypto, but rather be able to accept crypto as an alternative transaction tool that must be developed. if the government is able to replace the existing currency into crypto, then it is likely that the currency used will become worthless as a medium of exchange or international business

nope that is totally wrong mate,the existing currency will never be worthless even if crypto will take over the main stream.

there are still many transactions that cannot be done online so i believe that Fiat will remain functional though limited only yet will still exist right?so disregard the idea of crypto will bring fiat as worthless.

[bobitza]

If all countries converted to cryptocurrencies, all translation would be easy and fast. But I think all this will be very unlikely in the future. Because every country has its own currency, the value of each currency is different. If everyone uses cryptocurrencies, there will be no carrying cash, no fear of loss or theft. But it is inconvenient in small daily expenses.

[TRONTON]

If all countries converted to cryptocurrencies, all translation would be easy and fast. But I think all this will be very unlikely in the future. Because every country has its own currency, the value of each currency is different. If everyone uses cryptocurrencies, there will be no carrying cash, no fear of loss or theft. But it is inconvenient in small daily expenses.

translation?
well, fiat is also always on the verge of inflation, the use of cryptocurrency is not impossible, but it takes time. the generation process will touch the transfer of the algorithm to crypto and will still adapt the same fiat value based on official reserves.

your last few sentences may seem complicated, but the government can erase the cash payment mode starting from the area of ​​their strategic economic zone which is expanded every year, all will still hold on to the process.

[HarmonyA]

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 possible to convert to cryptocurrency,  but it is not possible to embrace it wholly and discard virtual currency.  Because in the places where the people are not literate, they can't run their daily businesses without virtual currency.
We shouldn't limit cryptocurrency usage within the literate class in our society,  the  illiterate population outnumber the later. So how can we cover the gap

[GideonGono]

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 possible to convert to cryptocurrency,  but it is not possible to embrace it wholly and discard virtual currency.  Because in the places where the people are not literate, they can't run their daily businesses without virtual currency.

I also see that because there are some benefits by crypto and other kind of currency. By the volatility of the price, it should difficult to use from the exchange of product. It was good that there has a currency divide happen to the exchange like we do have now.

[iamsheikhadil]

Well when the government says to go cashless, it's not to make everything digital, it's to actually regulate every transaction and place taxes on every penny of transaction and monitor them, and if people start to use crypto then they will contradict the motto of transaction regulation by the government xD so that will bring back privacy in a more secure way

[Negotiation]

If all countries are converted to cryptocurrency it will take the economy of the country to its peak. Because cryptocurrency is one of the easiest ways to earn. Everyone wants to work independently and also all countries will be transformed into cryptocurrency New things will emerge Technology will improve trade and business will evolve and things will become easier and faster.

[supercanada1]

Well when the government says to go cashless, it's not to make everything digital, it's to actually regulate every transaction and place taxes on every penny of transaction and monitor them, and if people start to use crypto then they will contradict the motto of transaction regulation by the government xD so that will bring back privacy in a more secure way

Government never wants people to simply adopt some system that is giving them complete control over their money and transactions. Crypto is giving people this freedom. Government needs money from your earnings in the form of taxes whereas crypto is sampling is going against this aim of government. Government would only adopt crypto when they have figured out a method of regulating transactions.

[jameshugo17]

Everyone becomes a member of an independent community. I think it would be very dangerous for states to adopt such a system. Because it means that the state shares its power. It doesn't make sense for states to rival other altcoins.

[kotik085]

The country will be attacked by crypto. If bitcoin stands on a par with fiat, then this threatens a financial disaster.

[Visbay]

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 possible to convert to cryptocurrency,  but it is not possible to embrace it wholly and discard virtual currency.  Because in the places where the people are not literate, they can't run their daily businesses without virtual currency.
We shouldn't limit cryptocurrency usage within the literate class in our society,  the  illiterate population outnumber the later. So how can we cover the gap

I don’t think that it’s really hard to learn the use of crypto if they will try to learn people can learn but as much we are living in the digital era so one day it is going to happen that crypto will be using same as virtual currency. Infect at some places it’s being used as currency.  There is no problem purchasing or selling with it because of the easy transaction with safe deposits.

[Polar91]

In my opinion, I really don't think a wide variety of currency will make the world better. Particularly to make a country exposed to enormous number of currencies, then their people will just then be confused which currencies to be used and also, they will have no basis on the value of these currencies. I still believe that having a fiat which are regulated will determine the value of the currencies, so there's no reason for us to convert our money to crypto entirely but to just let people choose between different instances whether to use fiats or cryptocurrency.

[meliodas]

In my opinion, I really don't think a wide variety of currency will make the world better. Particularly to make a country exposed to enormous number of currencies, then their people will just then be confused which currencies to be used and also, they will have no basis on the value of these currencies. I still believe that having a fiat which are regulated will determine the value of the currencies, so there's no reason for us to convert our money to crypto entirely but to just let people choose between different instances whether to use fiats or cryptocurrency.

I believed that the countries will not just switch to cryptocurrency without having a decent study and research about the possible outcome of it. Cryptocurrencies are not always about the money, it also has a technology that any country can use and it can boost their progress both technology and economy. A country should always focus on the overall growth and not only about the currency.

[Chrystora123]

IMO.. what will happen if all countries convert their currencies to cryptocurrency is that the price of Bitcoin will be even higher.

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 started using payments more often via digital money, as far as I experience losses there are almost none, even I have lost my smartphone and all the money in my digital wallet is safe and can recover again.

[verita1]

First, the population of the country that decides to implement cryptocurrencies as a new asset. They should be educated on how to use it because from the beginning it is long learning. The use of cryptocurrencies as we all know requires discipline and knowledge is the main thing to that adoption of the new asset to work and not cause disinterest.
The country should improve telecommunications systems throughout the urban territory. For the good and efficient use of the necessary equipment such as smartphones, Wifi among others. I believe that it will certainly bring more advantages than disadvantages if a good marketing study is carried out and that it has an excellent team of developers who create advanced technology financial products and services.

[henrybek3]

It is a complete adventure for countries to switch to such a system. Venezuela took a compulsory step. But it is unreasonable for countries with good economies to prefer such a thing. Countries should consider another system for cyrptocurrency.

[FLoving]

First, the population of the country that decides to implement cryptocurrencies as a new asset. They should be educated on how to use it because from the beginning it is long learning. The use of cryptocurrencies as we all know requires discipline and knowledge is the main thing to that adoption of the new asset to work and not cause disinterest.
The country should improve telecommunications systems throughout the urban territory. For the good and efficient use of the necessary equipment such as smartphones, Wifi among others. I believe that it will certainly bring more advantages than disadvantages if a good marketing study is carried out and that it has an excellent team of developers who create advanced technology financial products and services.

All of these development will be adopted easily when the states decide to adopt bitcoin or any other cryptocurrency for their citizens. The states can educate their citizens and can transform their banking system to blockchain technology. For a state it is not hard to improve their system according to the new system. All they need to study this technology and to adopt it for their country.

[HarmonyA]

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?

Cashless society requires a high literacy level to ensure that everyone in carried along the development stride.
Cryptocurrency engenders cashlessness, so if all countries convert to cryptocurrency, then cashless society will be easily implemented.
Though I see the reason why some countries have not gone cashless is due to some economy situation that should be resolved. But with time as the world progresses,   the western world will go fully cashless.

[Nimbulan]

It is a complete adventure for countries to switch to such a system. Venezuela took a compulsory step. But it is unreasonable for countries with good economies to prefer such a thing. Countries should consider another system for cyrptocurrency.

I don't think venezuela is actually adopting bitcoin, it just became a craphole in general with most people starving. It's hard to adopt bitcoin when you don't have any purchasing power. I believe that people should start adopting it now while it's not late, and adopt the ones that are actually decentralised not the government issued.