Topic: What will happen if the all countries convert to cryptocurrency? - page 10. (Read 12670 times)
September 23, 2019, 11:13:41 PM
All countries going crypto means adoption of cryptocurrency has reached its peak and it could also result in one thing, which is high demand for some particular coins which has been on the market already like Bitcoin, ETH, LTC, XRP etc. It will cause a revolutionary change in the entire cryptocurrency market cap.
September 23, 2019, 09:49:05 PM
if the country convert to cryptocurrency there will be a many benefits for the citizens and users including us, crypto can be used for payments and investments. but the disadvantage is, the country's economy will be increasingly difficult to manage because cryptocurrency is too volatile.
September 23, 2019, 02:07:41 PM
Most of countries are coming up with various mass adoption merchants and customer acceptance we can expect developed countries are first to adopt crypto currencies
September 23, 2019, 03:02:14 AM
I'm agree if we switch to cryptocurrency because it's easy and practical. but the disadvantage is, cryptocurrency can increasingly go up in price, or it can be said to be out of control. It can also have an impact on the price of staples if it often goes up in price. and not everyone knows cryptocurrency.
September 23, 2019, 12:44:01 AM
This does not make sense to discuss, since all countries will never switch to the use of cryptocurrency. The use of only cryptocurrency will never go to any state. A decentralized cryptocurrency can successfully walk in society only along with the national money of states. First of all, this is due to the high price volatility of such a cryptocurrency. However, not only this is the reason for this. The economy of the state can develop on the use of its money. A decentralized cryptocurrency for any state is not only someone else's money, but also "no man's money", which no state stands behind and which are not provided with anything. For any state, using them as your primary means of payment is simply dangerous.
September 22, 2019, 04:35:01 PM
Electronic money is the farthest thing from cryptocurrecy that you can think of: it is centralized, under state control, and you can lock it at any time with a simple mouse click.
It is difficult to go from here to crypto. But they will tell us that they will do it.
It is difficult to go from here to crypto. But they will tell us that they will do it.
September 22, 2019, 12:55:58 PM
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.
Crime will be the same since cryptocurrencies don't really reduce it.
Despite being more secure, hacks and scams are still a thing.
So better be careful, also some countries will not be aggreeing with cryptocurrencies being used in their country so keep on using fiat.
By that, carrying cryptos in the streets is like a double edged sword. But, it will probably making the criminals lost the motivation of robbing due to being really complciated anyway.
September 22, 2019, 12:26:01 PM
Making the world only use crypto for payment is very possible but one needs a device that capable of storing the app of a wallet or payment app so many unfortunate people in life cannnot afford one like a smartphone. So I think, I propose that countries should encourage using crypto only on their highly urbanized cities.
people in remote areas will find it very difficult to adopt the concept of payment via cryptocurrencybesides having to be connected to the internet, they also have to understand a little how to use a smartphone,
Unlike the case with people who live in cities, they are certainly able to use smartphones.
September 21, 2019, 10:36:09 PM
If it was ever to happen then my first impression is that it looks very cool but at the same time there can be instance that paying will be difficult. Making the world only use crypto for payment is very possible but one needs a device that capable of storing the app of a wallet or payment app so many unfortunate people in life cannnot afford one like a smartphone. So I think, I propose that countries should encourage using crypto only on their highly urbanized cities.
If we are talking about now, I don't think it will be a good idea.
It will not make payment difficult or hard, it will be easy but there are still problems
What cryptocurrency we will be using? Transacting would have a lot of fees, the government might control the cryptocurrencies hence it is not decentralized. Taxes and hidden charges will be high, can the blockchain carry out the transactions? More users mean more transactions, can it handle that? I think it is better to stay to what we have nowadays.
September 21, 2019, 10:31:10 PM
If it was ever to happen then my first impression is that it looks very cool but at the same time there can be instance that paying will be difficult. Making the world only use crypto for payment is very possible but one needs a device that capable of storing the app of a wallet or payment app so many unfortunate people in life cannnot afford one like a smartphone. So I think, I propose that countries should encourage using crypto only on their highly urbanized cities.
September 15, 2019, 01:40:45 AM
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 problem is that not too many nations will be able to do this, even if they want to. Bitcoin is having controlled supply. Unlike the case with fiat currencies, the central banks won't be able to print out banknotes without any control. And if the central banks are unable to do this, then the government may face issues in balancing the budget.
September 15, 2019, 12:03:17 AM
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.
Crime will be the same since cryptocurrencies don't really reduce it.
Despite being more secure, hacks and scams are still a thing.
So better be careful, also some countries will not be aggreeing with cryptocurrencies being used in their country so keep on using fiat.
September 14, 2019, 11:55:56 PM
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.
September 14, 2019, 11:52:03 PM
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 . September 14, 2019, 11:03:15 PM
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.
September 14, 2019, 10:28:40 PM
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.
September 14, 2019, 01:27:36 PM
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.
September 14, 2019, 10:58:11 AM
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.
September 13, 2019, 04:42:04 PM
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.
September 13, 2019, 12:41:11 PM
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. Jump to: