What will happen if the all countries convert to cryptocurrency?

[Gheka]

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.

I don't think the world will tend to give up cash to choose cryptocurrency in the future because you should consider the role of cash, contributing a lot in the processes of daily life, although some countries are planning to completely eliminate cash but until now, the development of these plans is too slow and not welcomed by the people. In addition, cryptocurrency is not a tool that can easily be managed by the government, which makes me believe that we will have an upgrade of cash in the future, rather than accepting cryptocurrency

[usorin]

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?

In this situation the impossible becomes reality and unlimited financial solutions will be available for everybody.

[bonker]

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 disadvantage of fiat cashless payment is theft,recently I found that there are some devices which can take out money from wallet by scanning the card numbers but in crypto there is no point of stealing either you need to decide when to pay or not to pay.

[goaldigger]

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?

A cashless society is pure convinience knowing you dont need to bring cash just to purchase something but there is always threat since it can easily stole unnoticeable by hacking. When the time comes that we are already in this kind of society, i know that the government or organizations who manages it will imement security for the users.

[galundan9]

Capitalism will recede, but it will have a more negative impact because it does not reach all humans, especially governments that are not ready for this. Cryptocurrencies are also susceptible to price stability so that it will greatly affect the commodity goods traded later, this will cause confusing social impacts.

[logicgate]

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.

 Yeah I think so, it will bring new revolution in price and value of crypto currency. it will bring economical equality in countries, people will not get jealous or effected by the progress of other country, because crypto currency gives equal chances of making money to everyone who is interested in it, I am sure with time it will happen.

[Bagaji]

Adoption of crypto currency all over the world will lead to an increase in the crypto currency market value which I believe is everyone prayer particularly those who have saved a lot of Bitcoin and other crypto currency. One of the negative impact could be increase in money laundry.

[Kez1817]

If all countries convert to cryptocurrency it will lead to the increase of value of crypto currency. It also increase the demands of crypto which make it become more valuable. I also think more amazing things to be happen in crypto world if mass adoption continue to increase all over the world.

[CandyIzDelicious]

Indeed, if all countries install crypto is very good, because facilitating us in transactions and trade between the world will be easier, except in my opinion for everyday life around us is very difficult to implement, because the crypto value is unstable and it is certain become an obstacle.

[acholagi]

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.

To do this, in terms of payments and services, this is indeed a good option, especially since the economy is now developing where there are many payments that use digital. what is clear is that the legality or recognition is something that is mandatory for every country to do

[Ozero]

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 switch to the use of cryptocurrency. If the state switches to the use of cryptocurrency, its economy is very quickly deregulated and will not be able to work. In fact, in such circumstances, the state switches to using other people's money, which will in no way be connected with the country's economy. Such an economy will not be able to exist for a long time. If we also take into account the high price volatility of cryptocurrency, then only its use looks very funny at all, the prices for everything will change every minute, nothing will be permanent. How many months or even days will such a state exist?

[sana54210]

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 don’t really fancy all these stuffs. No matter how much you all try to hype all these tech stuffs, yes I believe they are good but still there is need to what we are making use of now. Don’t think that because we have technology and everything seem advanced now, that there is no need for paper…. 😔Nah, paper will always be important no matter. Everything has areas where they are very important. And cryptocurrency and Blockchain are not the way, fiat is still good and banks are getting more advanced in the use of technologies.

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.

The government at this time does not really recognize cryptocurrency, so you can’t really say if it’s legal or illegal in lost countries (but there have been a few countries where it has been recognized and declared illegal. So if in your country it  hasn’t been said to be illegal yet then you’re free to be making use of it, since there is no law on whether you’re to be making use of it or not. There are lots of places online today that you can buy whatever you need with Bitcoin and other coins like Ethereum, Litecoin and bitcoin cash.

[Ailmand]

I believe bitcoin and crypto is convenient to have, however for a country to let go of fiat and move to crypto without being aware, regulation of it will be foolish. It can lead to economic down fall due to it's volatility. This will come soon once mass awareness and adaptation happens.

[markstivn98]

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 that really happens, currency exchange will be faster among countries. Buying goods will be much easier and the global economy will be affected a lot, but I do not think that can happen or it may take a lot of time to realize.

[Lonthe]

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.

Of course, if all countries convert to crypto then the top 10 coins will skyrocket, especially bitcoin can reach $ 1 to 1 satoshi, maybe this is difficult in the near future so we must be patient.

[onecall123]

~snip~
If that really happens, currency exchange will be faster among countries. Buying goods will be much easier and the global economy will be affected a lot, but I do not think that can happen or it may take a lot of time to realize.

That’s the point. The only thing that is relevant is ease of use. It's simple and much faster. Crypto is easier than a bank account most having zero idea how the banking system actually works. The moment it happens It’ll change the livelihood without hassles. I believe the government will adopt crypto network till then we must wait.

[mersal]

If it is happened the currency format will be totally changed and the transaction between one country to another country will be very easy and people who are in the different situations will be very happy to make transfer their money to different country very easily and it will remove the economic partiality between the country.

[Sum24]

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.

Of course, if all countries convert to crypto then the top 10 coins will skyrocket, especially bitcoin can reach $ 1 to 1 satoshi, maybe this is difficult in the near future so we must be patient.

I know it will reduce the value of crypto currency because it will be available everywhere and people will get it easily but at the same time we know when something we use more and more it increases the value, so I think it is good for your profit, I want to see crypto currency all over the world, that time is not so far when crypto currency will become all legal currency of the world.

[joinfree]

That would be great as this would reduce the high cost of transactions that people have to bear when making payments through Central Banks. Payments and transactions would also be faster if every country is legalizing the use of cryptocurrencies to make transactions. But honestly speaking i doubt if we would ever reach a stage where every country in the world would legalize cryptocurrencies to be used as payments for transactions.

[hahay]

That would be great as this would reduce the high cost of transactions that people have to bear when making payments through Central Banks. Payments and transactions would also be faster if every country is legalizing the use of cryptocurrencies to make transactions. But honestly speaking i doubt if we would ever reach a stage where every country in the world would legalize cryptocurrencies to be used as payments for transactions.

No need to doubt, so far there has been a lot of adoption carried out and many countries legalize cryptocurrency which states if it is a commodity which is a good opportunity for every community that trades it. That way of course in the future cryptocurrency will become a means of payment or a transaction tool that will be accepted in many places in the world.