What will happen if the all countries convert to cryptocurrency?

[1NV3ST0NM3]

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?

Yes, I agree that it will be a new era of development with all the advantages of a cashless society. But I don’t think so that will ever happen. Think about the poor people or illiterate ones, who cannot understand such technical things and cannot even afford to buy smart phones and a good internet connection; both of which are perquisites for using Bitcoin. A lot of work has to be done before countries can fully shift to cryptos.

[Twinscoin2017]

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?

Yes, I agree that it will be a new era of development with all the advantages of a cashless society. But I don’t think so that will ever happen. Think about the poor people or illiterate ones, who cannot understand such technical things and cannot even afford to buy smart phones and a good internet connection; both of which are perquisites for using Bitcoin. A lot of work has to be done before countries can fully shift to cryptos.

I agree on that this things might not happen, because i believe that not all countries support crypto currency some of the country's banned crypto Because they dont like it. Because countries has really their own way of understanding crypto and some other country really treat  crypto as an illegal things and they don't even support it even if it gives a financial support to the community.

[sheenshane]

That is impossible to happen, there are some countries did not accept bitcoin since it is decentralized. Probably it will happen if the decentralized crypto will have become a centralized and controlled by the government. So, it is really impossible that thing will happen people become cashless. Government always against on that cryptocurrency they did not support this, besides, they treat this as an illegal.
So, now how to become cryptocurrency replacing traditional fiat into digital currency.

[nyobaanweh]

Indeed, using digital currency can make it easier for us without having to carry cash, but this will lead to demonstrations for a group of people who do not have deep knowledge of this cryptocurrency.

[Finestream]

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?

Yes, I agree that it will be a new era of development with all the advantages of a cashless society. But I don’t think so that will ever happen. Think about the poor people or illiterate ones, who cannot understand such technical things and cannot even afford to buy smart phones and a good internet connection; both of which are perquisites for using Bitcoin. A lot of work has to be done before countries can fully shift to cryptos.

I think bitcoin will continue to soar even in the years to come but i don't think it will definitely replace fiat currency.But it will be an alternative for payment system.We may go on a cashless society soon but fiat currency will still remain knowing lot of people would still prefer using it.

[Fideend]

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?

Everyone should go and adapt the new technology in which there is no permanent in this world except change so either we like it or not we should embrace crypto if it will happen to supersede fiat. One advantage is the whole world is united to acknowledge Crypto in which we can use it anywhere but i see the disadvantage with the poor as most of them might be difficult to learn the new system of currency.

People will be happy all over the world because they will use only one currency throughout the world and there will be no need to convert money while shopping in other countries, buying and paying will be easy and you will feel ease while using your cryptocurrency. I am waiting for that time anxiously and I am hopeful that the day will come that people will use only bitcoin.

[beatzcoin123]

the advantages are so numerous, and it surpasses the disadvantages, but spme disadvantages is that one may get stranded in cases where there is low network coverage, we understand that services are to be paid for directly from your wallet which cannot function when there is low network coverage, another disadvantage is that it may be available to the literates in the society, who has got a vast knowledge of ICT, the non-literate and the aged may be left behind.

[richmcrich]

It will be difficult to say if the countries will convert to cryptocurrency. I don't see any such possibility. However, it will not be a very spectacular thing if it does happen. The narration of the capacity and capabilities of cryptocurrency is being overblown.

This will never happen as we know that governments of different countries have issued their own fiat currencies and they have a big profit and benefits with it so they can not leave fiat currencies fully. They can not switch into crypto currencies fully however many countries are using crypto currencies along with fiat currencies and their whole economy is the contribution of both these currencies.

[naily]

if that happens then we will get convenience in doing digital transactions, but there is one obstacle that will be found, what if there is no internet connection in an area, then we must still use paper money to make transactions

[Janation]

Much depends on banks and government. If they see the positive side when using crypto currency, then they will start using it at the national level.

This does not depend on the banks or the governments. The government will never be using cryptocurrencies since there are the feature of them that will be a problem to them, and that is the decentralization.

Bitcoin and other cryptocurrency are decentralized, saying that, the government can't control it like the currencies or fiats in their country. That might be a reason for that certain country to be controlled since the price of cryptocurrencies can be manipulated.

[davinchi]

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?

Hmph… dude please try to read well. The link you posted just said ‘does a cashless society benefit everyone?’ and it didn’t say that countries are converting to cryptocurrency, if you say lots of countries are converting to cryptocurrency, then you should mention which countries did that cause I have never seen any country that did that. And by the way, a cashless society is not going to benefit everyone. So we still need physical money.

[Naughty Princess]

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.

That could be the start of cashless society and everybody are ready to embrace the big changes and cryptocurrency can be more limited on the market. I think many are going to be greedy upon crypto because of opportunity to increase the price and no one gonna give up till they gain more higher. People gonna dont have any satisfaction in life and everything gonna be expensive.

[Duogembrot]

if in all countries start exchanging all of them to cryptocurrency then cryptocurrency will definitely be widely used and will make cryptocurrency very expensive because it is certain and I am very confident that demand will become higher and make total supply thinner.

[yitzjoe]

the world will advance if they are already aware of crypto because this is the fruit of technology that can be useful in all fields. for crypto users this is a thing that is awaited and of course they will have a lot of profit from crypto they keep

[cluit]

This may not actually be possible. There will still be some form of opposition to cryptocurrency. But if this opposition can be coerced into converting to cryptocurrency, then it will be very good for the crypto market prices.

I would not say it is not possible to see a lot of countries in the long run converting to cryptocurrency, though it may not seem to be what we want as a decentralized entity, but for countries integrating the blockchain technology, converting the monetary system into crypto and then it being centralized which is definite, as no government will for sure back decentralization, then it is possible. We all already know the impact this would have on the space itself and the economy generally if properly utilized.

[Nikolya]

If all countries switch to crypto-currency, there will be more mutual understanding on economic issues and there will be no dependence on one national currency.

[Kusnechik]

If this happens, then the interaction between the participants of the global market will become simpler, which will positively affect their economy.

[Efiraboy]

If in the current time, all countries are switching to Cryptocurrency, the world economy may have a problem affecting it. But sooner or later, the world will have to move to Cryptocurrency

Yeah you are right sooner or later the world will use cryptocurrency as their legal and regular currency even in their local markets. The world is turning towards digital currency and as we know bitcoin is the leading crypto in the world, it will take over the market and will be the mainstream in the future. It will take time but the future is that of cryptocurrency.

[martinholly167]

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 first of all we have to make sure that technology and internet is widely spread around the globe, there are some place that have civilization and population don't get electricity, if the technology is already spread evenly we can go to cashless society than after that maybe the crypto can replace the money system

[Jateng]

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 cash is totally gone amd cryptocurrency takes place, yes there will be no more holdapers but there will be more hackers. But, the source of payment which is the crypto can be now accepted at any country. No need to convert Peso to Dollar, Dollar to Peso, and so on and so fort. Every advantage has also disadvantages.
But I think it is really hard to phase out cash.