What will happen if the all countries convert to cryptocurrency?

[darkr]

If this happens then when all cryptocurrencies are more or less stable, then many states may well save themselves from being dependent on the dollar.

I do not see the situation when cryptocurrencies can be stable. That is why I doubt that all the countries will start using them as the main currencies. It will be too risky for economics.

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[Natalim]

If this happens then when all cryptocurrencies are more or less stable, then many states may well save themselves from being dependent on the dollar.

I do not see the situation when cryptocurrencies can be stable. That is why I doubt that all the countries will start using them as the main currencies. It will be too risky for economics.

Literally there are stable cryptocurrency, the one we called stable coins.
They are part of the big market, we should know that they are existing and they are vital as it could help us by giving an option if we like to convert our coins to see it stable. As this market progress, a lot of development will take place and the best interest of the many will definitely be serve.

[shoreno]

If this happens then when all cryptocurrencies are more or less stable, then many states may well save themselves from being dependent on the dollar.

I do not see the situation when cryptocurrencies can be stable. That is why I doubt that all the countries will start using them as the main currencies. It will be too risky for economics.

Literally there are stable cryptocurrency, the one we called stable coins.
They are part of the big market, we should know that they are existing and they are vital as it could help us by giving an option if we like to convert our coins to see it stable. As this market progress, a lot of development will take place and the best interest of the many will definitely be serve.

Indeed . stable coins are stable and helpful but we are talking about cryptos here  .  in case that all countries all over the world will join cryptos , i dont think that cryptos will become stable but cryptos can rather become more volatile or unstable , why  ?  Because the demand will not stop . people will buy to often and they will also sell often  . cryptos will only be stable if the demand will be lessen but thats not possible to happen because cryptos are now becoming popular  .

[Ellen Adarna]

If all countries will decide to convert to cryptocurrency there will be a chance that the market will become more stable and a lot of stores will start to accept crpytocurrency as a payment. Cryptocurrency can also help a country to improve their economy by helping a lot of people who does not have any source of income, so they could provide all of their basic needs. A lot of people will definitely start trading and investing in cryptocurrency, so they could get started to get more income. If they will do trading they should use a best trading platform which such as Darb finance, it has great security features so you can make sure that all of your assets are safe and secured. It is an exchange of fiats and crptocurrencies and at the same time can be also used as a wallet.

[Cosbycoin]

if what you expect happens then the crypto currency really has become a global currency that is accepted throughout the world.
and after that the FIAT currency became worthless and no longer used.

Which cryptocurrency exactly? I don’t think that’s going to work, and if it’s going to happen, there will be different cryptos that every country will be making use of, it’s not going to be one currency. But I don’t think all these are going to work. The reason some people here are talking about Cryptocurrency and preferring more than fiat is because they think it will give them freedom, but I don’t think that’s true.

If all countries are converting to cryptocurrency, it is not going to be Bitcoin cause every single one of them are going to have their own currency, and these I believe are going to be issued out by banks. Banks are going to start making use of the blockchain technology and everyone will be prompted to deposit the cash they have into banks for it to be converted to cryptocurrency.

[Coin-Desk]

If all countries convert to cryptocurrency , there will be a big change in the global economy. Then the demand for the cryptocurrency will be greatly increased. Yes, there will be a lot of benefits when all countries in the cryptocurrency are converted. People can easily do their daily work with the cryptocurrency. Then the exchange will be very easy, people can perform all the tasks through their smart phones. Again, there will be some disadvantages, but I think the probability of all countries not being converted into a cryptocurrency is more likely.

[bitcoin31]

I don't have any problems to use cryptocurrency as payment like in different stores who accepting cryptocurrency and other payment at the online world but we know that we still need because they have other uses of thiis and other use of crypto. I believe both will need but better to adapt cryptocurrenncy also as long as the money will not abolish.

[Astvile]

If we can saw all countries converting to cryptocurrency im pretty sure one of advantage would be the price boom,maybe this is where we can see the true price of cryptocurrency specially bitcoin.People using crypto will ease their life because you can pay almost everything from bills to other stuff on home using crypto

[BennyK]

Cryptocurrency market is influenced by activities of investors and traders on the market, thus the selling and buying orders determine the trend of the market. In order to attain a bull market, the buy orders must outweigh the selling order and vice versa. Once all countries go crypto, more funds will be brought in and this will increase the market value and as new investors join, there will definitely be a rise in prices of the coins on the market.

[efxtrader]

I saw a lot of conflicts on using it as a payment terms if all other kinds of payment will be eliminated or replace by cryptocurrency. However, if cryptocurrency will be only added as another option for payment options then it would be better.

I am agree, in our current economic system, central banks hold important part. If every government using cryptocurrency and there is no central banks, its hard to measure the economic because anyone make transaction peer to peer. I am prefer agree that crypto as digital asset

[BeGoods]

If every countries are ready to accept the cryptocurrency it will be a great change in this world because no other country will not ready to take a chance about accepting the cryptocurrencies in their country so I think it will be a good change for the economy and also good thought for the next development in future

First of all, it will not happen. Secondly, each country can have its own cryptocurrency to buy/sell things quickly on the Internet. In this case, their tokens will be used only inside their countries.

i think each countries will not create their own cryptocurrency,if this happen how about their official currency.meanwhile in international trades they use this.but for accepting and legalize cryptocurrency it still possible to happen.

Yeah, it's impossible in one country there are many uses of legitimate currency, how the economy works in that country if there are government-owned 2 currencies, we can't imagine that happening, chaos might occur. and the two financial systems themselves are different, crypto decentralization cannot be adopted by the government right?

[andriarto]

I agree to cryptocurrency, so the price of bitcoin will be more stable, compared to now. this happens because more and more people are looking at bitcoin, so it's distributed. and it will be difficult for the pope to manipulate it

[Sithara007]

Within a few years time, most of the countries will move towards digital cash after abandoning physical cash. Some countries such as Sweden are already trying to reduce the supply of physical cash. But that doesn't mean that decentralized crypto-currencies will be used. If the decentralized currencies become popular, then the government will lose control over the population and it will become very difficult to manage the federal debt. So this scenario is not going to happen in the foreseeable future.

[nur rochid]

Within a few years time, most of the countries will move towards digital cash after abandoning physical cash. Some countries such as Sweden are already trying to reduce the supply of physical cash. But that doesn't mean that decentralized crypto-currencies will be used. If the decentralized currencies become popular, then the government will lose control over the population and it will become very difficult to manage the federal debt. So this scenario is not going to happen in the foreseeable future.

it is indeed difficult to realize, especially for the government that cannot control it, of course with the loss of control the government must have policies that can stabilize their economy

[syamster]

I don't have any problems to use cryptocurrency as payment like in different stores who accepting cryptocurrency and other payment at the online world but we know that we still need because they have other uses of thiis and other use of crypto. I believe both will need but better to adapt cryptocurrenncy also as long as the money will not abolish.

This is really beneficial to use crypto as payment, because it saves our time, it is safe to carry with you. You will be able to obtain profit, we can buy online being at your home, it Is best invention I have ever seen, so those countries who are totally using crypto payment are lucky people because those who are not still adopting will regret.

[bitbunnny]

Another idea that sounds like utopia. Cryptocurrencies will not replace fiat currencies. Even if in some moment countries adopt and regulate cryptocurrencies and I'm sure this will happen eventualy fiat money and traditional economy system will not disappear. To my opinion the purpose of cryptocurrencies is not to replace fiat but they can exist together.

[shield132]

There were a lot of opinions posted but still I want to include my own one, don't know if something similar was posted:
1. Nothing good - in overall, what's the ratio of stores accept visa/master card compared to stores that only accept cash? (nothing to talk about bitcoin). Believe me, there are far more people who can't use visa/master card (online banking) and if we turn into cryptocurrencies, there will be chaos.
2. Unpredictable Economy - one day your money can buy galaxy s9, another day - it can't (bad example I know). But on another hand can be a little helpful for very small countries if they put some percent of their budget in bitcoin because possible rise can boost their economy but also price fall can affect them.

[Ranly123]

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?

Being cashless doesn't mean they are adopting to cryptocurrency. They are using debit cards yet if they adopt cryptocurrency then that would mean they will be adopting a much more risky type of monetary system.

[Xalata]

This would be great news to hear about the global adoption of cryptocurrency as a legal tender for the payment of goods and services. This would reallly improve the rate at which transactions are conducted in the world.

[Xising]

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, in the ideal world where that would happen, it would really chance the currency market, the business industry and the world economy as a whole. That would mean that the world and all countries, despite having their own currencies, would have an alternative currency that is carried by all other countries, which would surely affect their currencies, too. However, I think many would not support that idea because many business that are hinged on their local currencies will fall apart in time. Because, if using one single currency would be easier for most people, people would gravitate to using that, which in turn, would affect the other ones negatively.