What will happen if the all countries convert to cryptocurrency?

[Republikcoin.com]

The fiat system might get broken but am just imagining what would happen and thank god it hasn't happened because we don't know what this could mean for cryptocurrencies and fiat as they are in a way connected.

precisely. Fiat money will certainly be damaged, and become unstable. of course this is because each country has its own cryptocurrency. it will cause ecosystem instability. Yeah, but that will happen if all countries change it today. however, if this development is slow, I think everything will be normal and fine. of course this is a good thing for the development of crypto.

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[dat.ho12492]

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 convert to cryptocurrency we will live in a cashless society because we are all in a high technology government and so that all countries will be alarmed about whats going on.

I don't know if you accept or feel comfortable with such a society, but not just me, many people here probably won't like that society because we have used cash for many years, from a young age to marriage and stability, every day in every process of life, suddenly everything changes, we force to move to a new technology, unfamiliar and not easy to use, anger and a sense of protest are what will appear. Switching to crypto across the country is not advisable, let people get the choice, instead of deciding to help them, no one likes to follow what others have set up

[qwertyup23]

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 hindsight, it will be a disaster. Considering the political, technological, and financial statuses of other countries among the developed, developing and underdeveloped, there would be a discrepancy and potential manipulation of prices to the one who owns most of the bitcoins. Not to mention, cryptocurrencies have limited supply in their nature, which makes everything complicated.

Also do note that there are countries who cannot afford to adopt to an electronic cash system due to their insufficiency of technology (i.e. some countries in Africa, etc.).

[Spaffin]

If the cryptocurrency does not become more stable, then no state will switch to cryptocurrency instead of fiat currencies.  Otherwise, the economies of the countries will face many problems that will be very difficult to solve, and as an example we can cite the situation in 2018, when prices in the cryptocurrency market began to plummet.  What can a country that has completely switched to cryptocurrency do in such a situation?

[STT]

All countries are capable of being digital right now, so thats not a big change.    Just forcing away physical cash isnt that big, India did it overnight with one note not celebrating that but it worked just about, mostly just logistics.
   The bigger change is to either be FIAT or fixed monetary base.    When people say Libra or XRP is crypto I disagree, its a digital token but value is centralised and aligned to politics in its value.   Many western currencies are digital, even while we see coins and paper notes the vast majority of the western currencies are virtual digital value only registered between computers; but its nowhere near crypto.
 Crypto is aligned to capitalism in that the value is with the people, not that you will see anything perfect but value should not be centralised under the control of 'those who know best' and still be categorized as capitalist.   Thats important because when QE programs fail, they will blame the idea of capitalism for it and the world will turn to socialism and find the horrors also again centralised to a few in control of value.

[whyrqa-1]

In any case, the transition of states to cryptocurrency will not happen quickly, because this issue needs to be very seriously studied and all difficulties and dangers taken into account.  But for some reason it seems to me that before talking about the transition of countries to cryptocurrency, I need to work on security even better, because hackers steal cryptocurrency now much more often, in my opinion, than steal money from banks.

[Schirer]

Noting , because it wont happen.

Crypto currencies which exists now, eliminates the monetary policies of central banks. This is the essence of FIAT, it is controlled and otherwise we would have dropped back to middle ages in several occasions.

There can be Libra type currencies which can be adopted by governments but then the crypto currency loses its essence - decentralization.

[nightxglow]

cashless society doesn't mean we have to use cryptocurrency right? as long as we don't use cash and use credit card and e-money, and others, i think it's considered cashless society as well. I mean cyrptocurrency is well known now, but it's still not to the level where people start using it. Only certain people that has interest in crypto have bitcoin, and even they have problem using bitcoin because it's not really used widely now. Many countries haven't approved bitcoin as payment method yet. Even if we go cashless, it will be like making people use card more often rather than really use paper money or real money. Just money in digital form. I think we're still really far away from the future where everyone use cryptocurrency in their daily life.

[befriendmywater]

I think the world needs more time. technology era 4.0 has arrived and many people are dependent on technology, but the use of electronic money has not been well implemented.
Many countries are still poor and they don't even know what the internet is. This process will take a lot of time.

[raidarksword]

It takes more years to become a cashless society because not all people are aware of cryptocurrency and it also varies on countries that are not yet adopting crypto currency and mostly people still uses cash for immediate usage of purchasing goods. That dream maybe big but nothing is impossible as long as we continue to spread awareness and educate people about the good side of it.

[FlightyPouch]

I think not possible.but Is it likely.does not depend on the banks or the governments.If all countries accept cryptocurrency, cryptocurrency can become legitimate currency, and the use of cryptocurrency transactions will become easier.

There are a lot of countries that accepts bitcoin, some already legalized it some don't really care about it. I don't know what you are saying but it is like that you are saying that it is illegitimate, a fake currency. Well, it is not called currency most of them time but for me it is a crypto currency, it is not fake, it is legitimate crypto currency.

[Wonder_woman]

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 convert to cryptocurrency we will live in early cashless society. All transactions will become quick and easy because we will transact in a digital way in all we do. The world will become cashless world. That soon it will be a digital world.

[Ozero]

If the cryptocurrency does not become more stable, then no state will switch to cryptocurrency instead of fiat currencies.  Otherwise, the economies of the countries will face many problems that will be very difficult to solve, and as an example we can cite the situation in 2018, when prices in the cryptocurrency market began to plummet.  What can a country that has completely switched to cryptocurrency do in such a situation?

Even if the cryptocurrency becomes more stable in price over time, anyway, no state can fully switch to the use of cryptocurrency. No state will abandon its domestic national currency, because it will be detrimental to the economy of this state. Cryptocurrency cannot be the main money of any state, it is simply not intended for this.

[travwill]

Most likely, all countries will really switch to cryptocurrencies, but not the cryptocurrencies we all want, because many countries are working on creating their own cryptocurrencies. I doubt that, for example, all countries will legalize Bitcoin in the near future, but I believe that this will happen in the longer term. Perhaps in addition to BTC, other cryptocurrencies will be legalized, for example, such as ETH, XRP, XLM, TRX and others.

Cryptocurrency has an indefinite status in many countries, but in most it is legal, even if it does not have a legal status.
If everyone switches to cryptocurrency, then the already extremely manipulative world political field will turn into a battlefield, where the main weapon is the manipulation of cryptocurrency rates.
Rather, then everyone will create their own stable coins, which will not differ from ordinary national currencies.

[kennen1113]

Most likely, all countries will really switch to cryptocurrencies, but not the cryptocurrencies we all want, because many countries are working on creating their own cryptocurrencies. I doubt that, for example, all countries will legalize Bitcoin in the near future, but I believe that this will happen in the longer term. Perhaps in addition to BTC, other cryptocurrencies will be legalized, for example, such as ETH, XRP, XLM, TRX and others.

Cryptocurrency has an indefinite status in many countries, but in most it is legal, even if it does not have a legal status.
If everyone switches to cryptocurrency, then the already extremely manipulative world political field will turn into a battlefield, where the main weapon is the manipulation of cryptocurrency rates.
Rather, then everyone will create their own stable coins, which will not differ from ordinary national currencies.

More precisely, crypto does not belong to the government, it is not in the illegal and legal, this choice is up to the government but it has no actual value, and if countries turn to crypto, more economic battles will occur as you say because this system does not have a price regulation, the price is based on the desires of a group of people, and when countries join and allow people to use it, the manipulation will be at a terrible rate every day. Therefore, most countries are restraining each other, not allowing to establish a secure bridge to crypto, too many threats.

[BabyBoss]

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 the whole world will convert to Cryptocurrency we will live in a cashless society all will be digital coin and a digital transactions so that we can easily work and do all things in a high technology government. All is monitored by technology and no one can scape about the one world currency to a one world government.

[Jorge158]

In case all countries integrate cryptocurrency into their major financial systems, the cryptocurrency market will now be attributed to the fact that mass adoption has been realized. However, I believe the governments will begin to impose strict regulations on the merchants, exchanges, miners etc in order to gain some level of control over the transactions of cryptocurrency and as such, the decentralized aspect of it will be compromised.

[marcbitcoins]

Crime will reduce as It will be more secure and more convenient when you walk in the streets as you will not bring cash anymore in which people are tempted to do bad things like stealing and hold-up. You are always walking with your assets with only passwords and account number in your mind that nobody can steal it from you anywhere you will go.

[shoreno]

Crime will reduce as It will be more secure and more convenient when you walk in the streets as you will not bring cash anymore in which people are tempted to do bad things like stealing and hold-up. You are always walking with your assets with only passwords and account number in your mind that nobody can steal it from you anywhere you will go.

if that happen , criminal will also upgrade because if not then they cannot earn anymore   .  i think they will also learn how to use cryptos and if they already learned it , they will continue with thier illegal activities and whats worst is that they can now do it in both offline and online  . in offline ,they can ask for their victimes password and if that victim deny , he will be in great danger  . he will choose to give it than die there on the streets  because criminals are always armed  .

[Ewox]

It would be awesome and an advantage if most countries would convert to cryptocurrencies for we wouldn’t have to bring a lot of cash with us (other than credit cards), especially when travelling. I really think there would be less crime rates too if countries would convert to cryptocurrencies, less pickpockets and you wouldn’t have to worry bringing cash with you too.