What will happen if the all countries convert to cryptocurrency?

[patarfweefwee]

One thing is if everyone is using crypto currency then everyone vould have access to the internet anywhere since it will be used for businesses. Next, if everyone is on crypto currency, I'm sure that countries will create their own coin so they can at least maintain a certain control on the market. Lastly, every one will have to have register so people will not use it for laundering.

[Layers318]

All countries converting to cryptcurrency means a good news to the entire crypto market. The market will see full green for a long period because there will be an increase demand as users trade with the various coins on the market.

[senin]

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?

On the non-cash form of payment of the state can go further. However, they will never be able to fully switch to the use of cryptocurrency. Cryptocurrency can never replace the national money of states. This is absolutely unrealistic in view of the fact that a decentralized cryptocurrency has a very high volatility, but on the other hand, it can in no way be associated with the economy of a particular state.

[bitcon]

I doubt most governments will allow their currencies to become real Cryptocurrency.  The immutablity and transparency of Blockchain will scare them off.
They'd probably create their own version of Cryptocurrency like Venezuelan petro or Cryptocurrencies that would enable them print money of thin air in total secrecy..

It will not happen globally but I can admit that in a few years, many European countries will start using the cryptocurrencies more actively. For instance, many people in Germany regularly use the cryptos now.

[kodtycoon]

If all countries or all people use crypto there is no exchange rate which means they will make their own coins to replace their national currency. I just thought it was just a thing that should not be applied or wanted for the future.

[ethereumhunter]

Then the mass adoption of cryptocurrency will explode and will success since all people will know about cryptocurrency. I am sure that they won't let the chance is gone because now, they can get the benefits of cryptocurrency. They can have a new type of investment, and I think they will start to invest their money in crypto. It will bring new changes in all countries, and the new era will begin.

[BaraxLo]

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.

There is not a single chance that will ever happen but if you want a realistic answer just take a look at the  europe. People have been working as a together one country on euro and using it as a single currency for so many countries.

If you do that on a global scale you can have countries with less economical problems, if there was one currency in the whole world than you could have done better with countries like venezuale and turkey and won't have those however countries like greece would cripple everyones economy even if you are doing well. So you are giving at the same time but getting nothing in return aside from headache.

[adolf512]

I believe that cryptocurrency still has a long way to accept and legalize worldwide as a means of payment. Nevertheless, at the moment many projects and technologies are being created, which will make it easier and more convenient to use digital currencies as a means of payment.

[Uhde]

countries can not convert to cryptocurrency my friend. people can start using cryptocurrencies more often. crypto is decentralized so it is not related with any government or country. and meaning of cryptocurrencies is there are no taxes or commissions, so governments are scared about cryptocurrencies.

[andriw]

But whether these countries are ready with the application of cashless technology when viewed from the readiness of their infrastructure, especially in developing country. Unpreparedness in applying the new technology will actually worsen economic conditions.

[margaret22]

Cryptocurrency adoption will take a long time IMO. Just like credit cards, first it was quite rare, now almost everybody has it, at least where I live.

[Ziscadas]

many countries at the moment are simply not ready to switch to a payment system of cryptocurrencies, especially in African countries. In the future, this is a possible variant, but this transition can last for years and without doubt it will only bring benefit.

[legenduim]

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?

No state can fully switch to using cryptocurrency only. If this happens, especially in many states, chaos will simply begin and the economies of the states will collapse. Therefore, no state will ever fully switch to the use of cryptocurrency. Cryptocurrency can go in the state only in parallel with the national money of this state.

The governments of all the countries sure understand it. That is why it will never happen. Even the countries where the crypto is legal will not convert to the digital money.

[dmamigo]

This will mean 100% digital financial system been adopted, which is quite tough and impractical at the moment. In some countries, there is a lack of proper infrastructure, utility support to apply this change. This will take loads of time, maybe a few decades or maybe a century after this thought clicks in the mind of the officials of the respective country.

[TwtRedeo]

One thing is if everyone is using crypto currency then everyone vould have access to the internet anywhere since it will be used for businesses. Next, if everyone is on crypto currency, I'm sure that countries will create their own coin so they can at least maintain a certain control on the market. Lastly, every one will have to have register so people will not use it for laundering.

If the countries convert to cryptocurrency we will enjoy cashless world and there would be no need for money change. One world and one currency and that would be definitely bitcoin. That world is the era of new generation. We would enjoy that time very much. People will feel ease while using their coins. Shopping and payment throughout the world will be easy than that of today.

[amphibian]

A lot of things will happen ranging from positive to negative stuffs with the negative stuffs doing more harm than good. Well, if all countries convert to cryptocurrency, all trading and transactions will be done with ease and faster. The only problem will be trust among parties on the blockchain. What I am trying to mean is the issue of scammimg others. Once this issue can be sorted and prevented, I think all countries converting to cryptocurrency will go a long way to help the economy of most countries.

[wxa7115]

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?

There are several disadvantages when it comes to using digital systems of payment, to begin with the amount of infrastructure that you need to have a payment system like bitcoin or to use any fiat currency is huge, and in poor countries this infrastructure is not enough to satisfy the needs of all the population, so you still need a form of money that doesn't need that infrastructure, when it comes to fiat we have cash and if you want something even better than that you could use gold or silver.

So there are some countries that could make that transition but it's something that I personally do not like because that means that banks will know everything that you do with your money and it's possible that they will try to control what you do with it in the future.

[max fray]

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 main disadvantage of crypto is that it's still highly volatile meaning that its value with respect to goods and services bought is unstable. I know I'm saying unpopular thing but there should be some kind of regulation to make crypto more stable if we want it to be used a a currency in the direct meaning of this word.

[kenel]

bitcoin is a universal convenient payment, I believe that this is a very important method of payment, which should be promoted

[marine4u]

A lot of things will happen ranging from positive to negative stuffs with the negative stuffs doing more harm than good. Well, if all countries convert to cryptocurrency, all trading and transactions will be done with ease and faster. The only problem will be trust among parties on the blockchain. What I am trying to mean is the issue of scammimg others. Once this issue can be sorted and prevented, I think all countries converting to cryptocurrency will go a long way to help the economy of most countries.

This is the dream of many people investing in cryptocurrency because then the value they get will be huge. But I think for cryptocurrency to be used completely in the world it takes a lot of time and that will not be easy to happen. Fiat currency is still the top choice in the world.