What will happen if the all countries convert to cryptocurrency?

[finzyoj]

if a country wants to change its currency from fiat to cryptocurrency, to connect app to the blockchain network.
they should pay attention to improve their internet network coverage and security
because cryptocurrencies payment cannot be separated from smartphones that need internet access anywhere when making payments.

You are right! But the problem is several countries still can't have internet services due to poor economic status. Well, the others got internet connection however they're not as fast as what like the first world countries or Singapore have.

Therefore, attaining for worldwide adoption is nearly impossible. It's very hard to swallow but it's true. The problem doesn't only revolve in the intrtnet connection , if you will analyze there are greater factors which hinders and one of it is the disapproval of governments.

[Zanzibet]

This will not be easy to happen in the short term due to governments' regulation. However, if it is to happen it will be a far easier way to transact globally . Of course this need to be aided by strict universal rules.

[robelneo]

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?

Advantages :
It would make things easy because people will not have to carry a lot of cash if people are going to use cryptocurrency everything can be accountable and recorded  

Disadvantages
Like what is written in the articles some areas in a country cannot go cashless and the elderly people are more convenient using notes and coins
and there are areas in the country that do not have internet access, so it's impossible to transact with cashless transactions

[bitzizzix]

All of this requires a long process and I hope that the progress of bitcoin is evenly distributed throughout the world and many countries convert it.
The internet network is very influential for bitcoin to be developed because not all regions can access the internet network that supports it, and that is one that must be developed so that bitcoin can be used evenly.

[xen1oph]

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?

It's happening by small steps. Like, couple hours ago I found out that in Japan they let people make donations via cryptocurrency. And that's indeed more convenient when you have an opportunity to pay virtually.
Who needs paper pieces anyway?

[Colt81]

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 my own personal opinion, if every countries starts to convert to cryptocurrencies it will be a good news for us because it will be convenient for us to make transactions that we are no longer need to convert our cryptocurrency into fiat and we don't need to bring any paper money. But i think the only disadvantage that we will encounter is that the government might put taxes on every of our transactions.

[ice098]

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 my own personal opinion, if every countries starts to convert to cryptocurrencies it will be a good news for us because it will be convenient for us to make transactions that we are no longer need to convert our cryptocurrency into fiat and we don't need to bring any paper money. But i think the only disadvantage that we will encounter is that the government might put taxes on every of our transactions.

Yes it will be a good news to everyone , however that cons to it is government would handle it, they will put a huge amount of tax on it ,why? Because they know that bitcoin has  a great value than any other currency also to altcoins. If all of the country will convert to bitcoin I think some of the citizen of a one country will try to hoard, not all the countries have the same economic capacity.

[btcdie]

not that easy, converting local currency to cryptocurrency, it requires a process and must discuss between the government and its people. Many countries of society do not agree with the system of bitcoin and others.

for the advantages, we are easier to transact, discounted fees are cheaper than using other payments, certainly safer.

the drawback, more hackers will roam around in our country to find ways to steal our assets, such as phishing activities, malware and others. there are countries that still lack internet access. make it easier for a person to commit a crime. tax payments will be greater.

[Genemind]

That is possible but couldn't happen so soon since there are still lots of people who aren't aware of crypto. However, if there will be a cashless society, there will be a complete convenience yet there will still be lots of conflicts. It might be the answer to the financial freedom that we're all waiting for but it could also be an easier way for hackers to steal money.

[Irvinn]

That is possible but couldn't happen so soon since there are still lots of people who aren't aware of crypto. However, if there will be a cashless society, there will be a complete convenience yet there will still be lots of conflicts. It might be the answer to the financial freedom that we're all waiting for but it could also be an easier way for hackers to steal money.

I believe that people can be trained and they will learn about cryptocurrency and learn how to use it, but this only applies to younger generations.  I believe that old people today are not able to use cryptocurrency in everyday life.  So cryptocurrency will come into the world with full daily use only after a while.  As for what happens if all countries use cryptocurrency, then in this case the quality of human services will definitely improve.  At least it will be a bit like payment systems, where we use cashless payments.

[doomistake]

I think it never gonna happen. But if does, banks will be close, government will put a very high taxes in every transaction that will be made ,they can regulate the flow of cryptocurrency because they finally legalized it  , it could be many illegal transaction will be made for things that cannot be bought so easily, im sorry but this one is true.

They could put taxes on it if they could go through the blockchain, but they can't, so doing such thing is impossible for them. Legalizing it will just increase the chances of bitcoin adaptation but it won't change its nature which is being decentralized, and regulating the flow is just a dream for them, bitcoin is not fiat, it is a digital currency that could run on its own without anyone behind its back, think of it as a super AI network.

[ReiMomo]

I think it never gonna happen. But if does, banks will be close, government will put a very high taxes in every transaction that will be made ,they can regulate the flow of cryptocurrency because they finally legalized it  , it could be many illegal transaction will be made for things that cannot be bought so easily, im sorry but this one is true.

They could put taxes on it if they could go through the blockchain, but they can't, so doing such thing is impossible for them. Legalizing it will just increase the chances of bitcoin adaptation but it won't change its nature which is being decentralized, and regulating the flow is just a dream for them, bitcoin is not fiat, it is a digital currency that could run on its own without anyone behind its back, think of it as a super AI network.

Well, speaking of adoption but this is regulated because of governments wants I think that is not reasonable for bitcoin to become profitable.
Bitcoin will remain a digital currency and not the same as fiat. So, it's not gonna happen they will convert into cryptocurrency and leave their own local currency. Each country has its own revenue or era and that what base on local currency value. There is a chance that it will alternate currency to fiat through the internet payment system.

[Faxmate]

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?

Advantages :
It would make things easy because people will not have to carry a lot of cash if people are going to use cryptocurrency everything can be accountable and recorded  

Disadvantages
Like what is written in the articles some areas in a country cannot go cashless and the elderly people are more convenient using notes and coins
and there are areas in the country that do not have internet access, so it's impossible to transact with cashless transactions

Just to overcome this disadvantage, we need to make both crypto currencies and cash available for public so that those who are illiterate or old enough to not be able to grab the idea of crypt currencies face on issues. On the other hand, those who want fast transactions or business deals, they opt for crypto without any hesitation.

[Xxmodded]

Will get positive economic for every country want to adopt and allow bitcoin as legal payment, but many country look dislike with bitcoin become legal digital currency payment in their country and never give place for bitcoin become legal payment, with give space for bitcoin can help many people for investing or become payment for get much profit.

[meliodas]

If all of the countries converted into the world of cryptocurrency then our world will be decentralized and the government will not have any of its power like before. Cryptocurrency are so powerful and that power will be given to the people and the decision making will be based on majority so it is a fair system since people will decide on what is going to happen because of decentralization.

[Omega Weapon]

If all of the countries converted into the world of cryptocurrency then our world will be decentralized and the government will not have any of its power like before. Cryptocurrency are so powerful and that power will be given to the people and the decision making will be based on majority so it is a fair system since people will decide on what is going to happen because of decentralization.

Which is why it will never happen, do you think that any government is going to want to give up their power? Not only that all of those that are rich under the current system will like for things to remain the same since many have gotten an unfair advantage over the rest of us, if cryptocurrencies were adopted by every single country this will level the playing field and believe me that is the last thing the powerful want because for the first time in a long time they will have to compete against everyone else under the same conditions.

[EdvinZ]

I think that a full transition of all countries to cryptocurrencies is impossible in the near future. We have different political systems on the planet and some of them do not support the idea of cryptocurrencies. But I agree that with the use of cryptocurrencies and blockchain systems in General, economic growth is inevitable. These new technologies simplify many processes in the functioning of the infrastructure of entire countries and provide businesses with great advantages.

[arifteguhr]

This is actually very dangerous for each of these countries because bitcoin can potentially bubble. And it could also later be a price game for those who have power or money on a large scale will control the market for personal gain. and it can be guessed that every country could suffer losses from this. very high enough risk

[yulionoo]

this might happen but I think it will take a long time maybe in 10-20 years. because right now the cryptocurrency mass adoption hasn't materialized there is still a lot of rejection in some countries. most governments reject crypto because the crypto's anonymous nature will tend to be used for criminal acts. and bitcoin is also decentralized and cannot be controlled by the government. so I think fiat money will remain until later.

[ardentvolcanoes]

I think that a full transition of all countries to cryptocurrencies is impossible in the near future. We have different political systems on the planet and some of them do not support the idea of cryptocurrencies. But I agree that with the use of cryptocurrencies and blockchain systems in General, economic growth is inevitable. These new technologies simplify many processes in the functioning of the infrastructure of entire countries and provide businesses with great advantages.

The idea to become crypto based system can happen only if all the countries around the world embrace blockchain system. Though the concept will changed up between decentralization to centralized system. We can't avoid this since government will not accept the idea of not having any control with financial system
surely they will create their own versions of crypto using blockchain.

It will workout if greed will not be the priorities but instead adopting for better growth of the economy they've handled.