What will happen if the all countries convert to cryptocurrency?

[trickshot22]

Perhaps there is going to be a global economic crisis. Because most people around the world do not understand the crypto currency and know how to use it. So they will face transactional difficulties and need a longer transitional period to test the cryptocurrency. And a country's financial structure will experience an overall change.

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[meliodas]

Perhaps there is going to be a global economic crisis. Because most people around the world do not understand the crypto currency and know how to use it. So they will face transactional difficulties and need a longer transitional period to test the cryptocurrency. And a country's financial structure will experience an overall change.

I don't think that there will be an economic crisis because all of the countries will not convert to cryptocurrency without learning and teaching it to their citizens. They are not dumb like that. If there will be a transition from fiat to cryptocurrency, full time from different countries then it will be so innovative and there will be a lot of progress to overall economy of the world.

[sulendra12]

It would make a chaos.

I mean, lot of you guys are only thinking about the good side but forgetting about the bad side such as fluctuation and how does the price actually move on cryptocurrency, if all countries convert to crytocurrency and just make an example with smaller country, if the price would have fallen to the point that would make this country bankrupt then they should have not using cryptocurrency in their economy system, simple as that.

[smyslov]

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 will be good if majority or all of the countries convert to Cryptocurrency, but there will be disadvantages, like how about those places who are remote and do not have an internet connection, and there are people in this world who are hard to understand this technology are not using internet, fiat should still exist but if we are going to go all out, these circumstances should be considered and address.

[travwill]

If we lived in a society where the values of freedom and honesty prevail, we could easily switch to cryptocurrency. In this situation, I think you understand the manipulation of what scale will begin.
But we live in a world where the dominant value is private property, here are other rules of the game. Price Manipulation is a powerful tool in all financial markets.
Therefore, even in ordinary life, in some laws there are anti-monopoly laws and laws restricting price wars. In the world of cryptocurrencies, there is no such regulation yet, and I think in view of this, we now have such an unstable and dangerous market.

[senin]

Perhaps there is going to be a global economic crisis. Because most people around the world do not understand the crypto currency and know how to use it. So they will face transactional difficulties and need a longer transitional period to test the cryptocurrency. And a country's financial structure will experience an overall change.

I don't think that there will be an economic crisis because all of the countries will not convert to cryptocurrency without learning and teaching it to their citizens. They are not dumb like that. If there will be a transition from fiat to cryptocurrency, full time from different countries then it will be so innovative and there will be a lot of progress to overall economy of the world.

I can confidently say that no state will completely switch to cryptocurrency only. This will never happen. Cryptocurrency can be used in society only along with the national money of states and there are many reasons for this. Our society is gradually approaching non-cash, but this is a very long and ambiguous process. Even in the distant future, I do not think that a complete transition to a cashless society will be possible.

[Faxmate]

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 will be good if majority or all of the countries convert to Cryptocurrency, but there will be disadvantages, like how about those places who are remote and do not have an internet connection, and there are people in this world who are hard to understand this technology are not using internet, fiat should still exist but if we are going to go all out, these circumstances should be considered and address.

yeah there will be great difficulty for the people who do not know about the technology, as most of the people do not know about the exchange of bitcoin to other currency so this will lead to the loss of money from many people, i think both crypto-currency and fiat should exist and everybody should be free to use any of them.

[judaspriest]

yeah there will be great difficulty for the people who do not know about the technology, as most of the people do not know about the exchange of bitcoin to other currency so this will lead to the loss of money from many people, i think both crypto-currency and fiat should exist and everybody should be free to use any of them.

if the old generation no longer exists in this world, then the new generation will dominate, I think cryptocurrency has the potential to become a currency for countries, and of course it will be very interesting, Bitcoin will be to the moon!

[bohr]

yeah there will be great difficulty for the people who do not know about the technology, as most of the people do not know about the exchange of bitcoin to other currency so this will lead to the loss of money from many people, i think both crypto-currency and fiat should exist and everybody should be free to use any of them.

if the old generation no longer exists in this world, then the new generation will dominate, I think cryptocurrency has the potential to become a currency for countries, and of course it will be very interesting, Bitcoin will be to the moon!

The younger generation have greater knowledge and more skills with the new technology, in order for cryptocurrencies to be adopted all over the world as people want then we will need to see a generational change, there are still many people that do not even have banks accounts because they do not trust in banks and while their distrust is justified there are going to be many people that are not going to adopt bitcoin for the same reason and I think that is going to slow down the adoption of bitcoin through the world.

[k@suy]

yeah there will be great difficulty for the people who do not know about the technology, as most of the people do not know about the exchange of bitcoin to other currency so this will lead to the loss of money from many people, i think both crypto-currency and fiat should exist and everybody should be free to use any of them.

if the old generation no longer exists in this world, then the new generation will dominate, I think cryptocurrency has the potential to become a currency for countries, and of course it will be very interesting, Bitcoin will be to the moon!

The younger generation have greater knowledge and more skills with the new technology, in order for cryptocurrencies to be adopted all over the world as people want then we will need to see a generational change, there are still many people that do not even have banks accounts because they do not trust in banks and while their distrust is justified there are going to be many people that are not going to adopt bitcoin for the same reason and I think that is going to slow down the adoption of bitcoin through the world.

Actually the problem here is not only about the trust issues of the people against bitcoin or bank accounts, because how can they start a bank account if at the first place they don't have money to put in traditional banks and also what if they don't have money to convert for investing here in crypto world. There are a lot of possibilities that we should consider before creating our own speculations.

[CarnagexD]

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.

Switching to cryptocurrencies could also make or break them in the process. For instance, cryptocurrencies require large amounts of electricity to operate. A nationwide scale will require more energy which could be sustained by switching to renewable resources rather than fossil fuels. But this will take time to implement. And if the process takes long, not only will it cause a drop on the economy, they are also riskig the quality of the environment they are in.

[Wipeout2097]

It will be more easy for a common person to make transactions independently and buy,sell with the crypto. Jobless people will start earn from the crypto legit forum and the unemployment will decrease it will help the betterment of the economy.

There are also many other ways crypto will indirectly contribute for the stable economy.People will buy online with crypto which also increase the sales and the tax will generate revenue for the government and it will used for the best infrastructure f the country.

[Tylev]

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 world is truly becoming more cashless and digital. However, this does not mean at all that states can switch to the use of cryptocurrency. No state will ever allow this, and there are serious reasons for this. A cashless society is only possible in ordinary currency and a digitized national stable coin. Cryptocurrency will be able to occupy a certain niche in the financial sector only along with the circulation of the usual currency of states. It can also interact with the currency of states in various forms, and this process is inevitable and has just begun to develop.

[Tash]

Are you talking about digitizing fiat or open transparent blockchain.
Money in the past and future will gravitate to the cheapest system of transacting and least inflating (value loss).

7 years ago in the European Government, Why the whole banking system is a scam
https://www.youtube.com/watch?v=hYzX3YZoMrs

[Janation]

The world is truly becoming more cashless and digital. However, this does not mean at all that states can switch to the use of cryptocurrency. No state will ever allow this, and there are serious reasons for this. A cashless society is only possible in ordinary currency and a digitized national stable coin. Cryptocurrency will be able to occupy a certain niche in the financial sector only along with the circulation of the usual currency of states. It can also interact with the currency of states in various forms, and this process is inevitable and has just begun to develop.

Unless each government creates its own cryptocurrency.

This is the only way that I can see that. If the government creates its own cryptocurrency and they are the ones that are controlling it, it will be favorable for them. The future is leading to digital currencies, nowadays I don't think that the government can still support that. What they are studying now is the development of Blockchain technology which I think is the start since it will really develop a lot of things including the banking systems in a country.

[bitcoinst]

Of course, this is a rather scary and strange step for any developed country in which the classical financial system prevails.
After all, the economy is formed and lives due to the inflow and outflow of funds, which, as we know, are formed partly due to good turnover.
The introduction of a full 1-decentralized cryptocurrency system can very strongly and unpredictably affect the entire economy of the country.

[Spaffin]

Of course, this is a rather scary and strange step for any developed country in which the classical financial system prevails.
After all, the economy is formed and lives due to the inflow and outflow of funds, which, as we know, are formed partly due to good turnover.
The introduction of a full 1-decentralized cryptocurrency system can very strongly and unpredictably affect the entire economy of the country.

If we take the United States of America, for example, the dollar is valued all over the world due to the fact that America grants loans in national currency to other countries, and also performs any international trade operations in its national currency.  Almost any country today depends on the value of the dollar, while no one takes into account the fact that dollar inflation is increasing every year, because America does not stop printing new money.  I believe that with the transition of the whole world to cryptocurrency, for many, or rather for all countries, a very bad time is expected, because Each country will remain only with its gross product and gold reserves and no one will be able to draw up any numbers or kilograms of non-existent gold.

[Negotiation]

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.

You are right that if all countries convert to cryptocurrency it will bring us many benefits  Crypto has improved many popular before When our country's government learns about its use  every country will support crypto. Technology will be developed and the economy of the country will be fed.

[Averim]

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?

Virtual payments are available through various banking online services. Countries will adopt cryptocurrency only to get a piece from the cherry. They don't care for this domain.

[Sanugarid]

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?

Virtual payments are available through various banking online services. Countries will adopt cryptocurrency only to get a piece from the cherry. They don't care for this domain.

Definitely, if only all countries will adopt and use cryptocurrency, making any transaction worldwide is easy to do, this is good especially for business purposes and not only that, it is a good investment being involved with cryptocurrency. More investors can be encouraged to invest their money in a particular project which is actually helpful to the community. Just think of it if that happens maybe the prices of every crypto will rise up.

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.

You are right that if all countries convert to cryptocurrency it will bring us many benefits  Crypto has improved many popular before When our country's government learns about its use  every country will support crypto. Technology will be developed and the economy of the country will be fed.

Innovation is the best part with regards to cryptocurrency, because of crypto there are new technologies that can help us in so many ways like making transaction. Not only that because there are some projects that are supporting different charities and there are also projects that are supporting healthcare and also our environment. The government should allow crypto from their country.