What will happen if the all countries convert to cryptocurrency?

[squog]

For one thing, a country can't pump up it's currency by simply expunging other currencies and even manipulate their marker because the currency is decentralized. Further more since crypto currency will be Internet based, i think the internet will have a wider range and a more ease in accessing. I just hope it does come true.

[KalaiBTC]

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?

Which countries exactly are going cashless? Are you sure you’re still in this world lol?. Because I don’t know any country in this world that is going without cash. Everywhere you go there is cash which is main thing we use. Then banks use the help of the technology to make things easy for us, that’s by making use of banks app. So I’m sorry your very wrong.

[ethereumhunter]

the one thing that we will see is people don't carry too many cards in their wallet and they only need one wallet which supports for making payment of the transaction. although fiat still uses, with the cryptocurrency, it makes people easy to buy something and they can easily to transfer the amount from their wallet to the other wallet. maybe this will happen in the future when all countries convert to cryptocurrency.

[TheWalkingCoin]

If all of around country in the world agree for bitcoin as the payment, we can imagine how much profit we can get by growing fast of bitcoin and altcoin price. but so far many country still not allowing for bitcoin using as payment system.

[Burogh]

Government can make their own cryptocurrency but the different thing between bitcoin is government cryptocurrency is decentralized crypto. Bitcoin is decentralized cryptocurrency and government can not control the supply. I think government cryptocurrency like fiat money but in digital format

[Betwrong]

Current amount of money in the world is roughly $80 trillion. If all the payments were carried out in cryptocurrency, Bitcoin with its 60% of total crypto capitalization and 17.2 million circulating supply, would cost roughly $2,800,000. This is what can happen if all the countries convert to cryptocurrency. Isn't this something all of us are waiting for?

[trauchot]

While this is impossible because we do not know all the possibilities of cryptocurrency completely and it will be dangerous now to completely switch to cryptocurrency. For this we need some more time to fully understand their potential and boundaries. Well, if it had happened that all countries would have switched to cryptocurrency, that would be a mess, because only a small part of the world knows how to use cryptocurrencies and governments  will have to train others and there will be problems, so if we will come to this, it will happen not soon.

[Shimmiry]

The moment all the countries convert to crytocurrency would be the beginning of many amazing things to happen to the world and the financial sector, the process sending and receiving funds worldwide would become very fast and easy, it would lead to growth of businesses and make life easier for citizens of the world.

I agree with this. This is the future what everyone deserves. This is surely give satisfaction to everyone especially to those business sectors because doing transactions is much easier at the same time accessible. Using cryptocurrency as the new form of world currency is something that will help us in our life to walk faster.

[Dudeperfect]

See each and every activity has its own pros and cons. Adopting cryptocurrencies for the nation might sound a great idea but I believe that we are not ready for it to run the entire nation based on international currency with volatility. On the other hand, Crypto is all about self-responsibility and we are not mature enough to use cryptocurrencies, in my honest opinion. We must build awareness on the mass level before implementing the actual decision.

[hacekd]

The moment all the countries convert to crytocurrency would be the beginning of many amazing things to happen to the world and the financial sector, the process sending and receiving funds worldwide would become very fast and easy, it would lead to growth of businesses and make life easier for citizens of the world.

I agree with this. The currency will come to a new face. The cryptocurrency will lead the world and help everyone to have a better life. Easier and accessible transactions will be done  at the same time fastest way. This will help our daily task to be an instant. This thing is not impossible to happen so lets just hold for now.

this will facilitate transactions between countries, and will not complicate those who are indeed interconnected between countries, not only that countries can freely trade their goods with bitcoin payment instruments that can be used...

[Argoo]

States, governments with their state bodies are unlikely to switch to the use of decentralized crypto currency. Citizens of these countries will transfer money to use crypto currency. If citizens mainly use crypto currency, the main drawback of this will be that by that time all data about all transactions in the crypto currency that will pass through exchangers and outlets will be transferred to the relevant authorities and therefore the state will have almost all information about transactions of citizens in the crypto currency.

[Coral27]

If all of around country in the world agree for bitcoin as the payment, we can imagine how much profit we can get by growing fast of bitcoin and altcoin price. but so far many country still not allowing for bitcoin using as payment system.

You are right it will be all profit for us and it will help us to make more income, actually the price of bitcoin is almost about the number of users and the number of investors, so if more people will buy bitcoin the more price of bitcoin will get high and it will be more income so it is all our benefit we actually need to help it make more famous and more popular so that more countries will accept it,.

[Silberman]

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 countries are converted to cryptocurrency for sure every transaction will be on blockchain technology or simply it will be digitalized. The advantage of it every transaction will be fast that you don't need to fall in line in shopping malls, but the disadvantage of it is it will be easier for hackers to steal all of your money.

I think stealing money digitally is already happening anyway. I have read a facebook thread where people with Paypal accounts got hacked. I am not sure how, maybe they just installed a keylogger or something and were unaware of it. If it's going to be on blockchain perhaps they may find a way to track it? I believe I have read somewhere that with blockchain every movement of a process/transaction can be logged and cannot be tampered with.

You are correct when you say that money is being stolen already and this problem is getting bigger by the day but the greatest advantage that fiat has over bitcoin is that banks can recover that money since they can charge back any money stolen but in bitcoin this is not the case, there is no one here in the space to protect you and if you lose your money you're never going to recover it.

[Escf4]

That could the rise of the era of cryptocurrency that the different countries are joining and accepting cryptos , it would bring unity in the cryptocurrency world ,because there are no more denial on crypto use in every country and this would benefits more to the user of cryptos and the entire cryptocurrency.

[Sanmark]

There is a long road till that! Biggest problem would be which country possess how many coins. Many countries would make their coins and who knows how many of them and try to explain that their coin is the best and most valuable...  And I don't think they would accept cryptocurrencies that are already on the market!

[samycoin]

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's depends to the country if they choose crypto as they adopt the crypto to their country. And I think many things will be consider if a one country choose crypto using to their everyday life. And before that happen many things will be discuss to consider.

[Barbarian]

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 know that there is a lot of people in the forum that want to see something like this happen but they need to stop dreaming, I really think the cryptocurrencies are going to be used by a significant portion of the population of the world but that's it, governments themselves are not going to adopt cryptocurrencies because they are very comfortable with the system they have created.

[serjent05]

It is certain that this will not happen in the near future. Only when governments and central banks have total control over the cryptocurrencies only then. Bitcoin is designed as a decentralized currency, so any government or banking control is tackling the very essence and reason for the existence of Bitcoin.

Honestly, you idea is conflicting, you tend to say they will not happen but then stated that it will happen once the government and central banks have control over cryptocurrency.

As far as we know, cryptocurrency is either centralized or decentralized, so I believe it is very possible for the world to convert to cryptocurrency but the problem would be, there are lots of people, who are unable to use or access the technology, will be left out.  The possibility of people going back to barter system will be possible for the given reason, that is if they make the paper money obsolete or not usuable.

[yonjitsu]

If that's going to happen for the first time that all countries will embrace cryptocurrencies then probably it will be the day where we can see an increase of crypto prices as more people are demanding for cryptocurrencies. So many great things is going to happen and different countries have their own strategies too no how they would handle and utilize cryptos to its full capabilities. Surely, it will be an extraordinary day for cryptoworld as a whole.

[Ctn]

the one thing that we will see is people don't carry too many cards in their wallet and they only need one wallet which supports for making payment of the transaction. although fiat still uses, with the cryptocurrency, it makes people easy to buy something and they can easily to transfer the amount from their wallet to the other wallet. maybe this will happen in the future when all countries convert to cryptocurrency.

I dont understand how that will make the government to think about the application of crypto currency in the real world and thus change everything from the fiat to the crypto currency. Thats utterly ridiculous. The crypto world and the real world are different things. They both run on trust factor and fiat runs more onto the traditional way of trading which is running since thousands of years now. The banking sector is very much strong in handling all the current financial situations with its tried and tested system which keeps improving itself all the time. I dont think crypto fit in somewhere here, its gonna take the lifetime.