Topic: What will happen if the all countries convert to cryptocurrency? - page 13. (Read 12677 times)
if this happens, of course, it will have a good impact on the crypto world, we don't have to carry money that is vulnerable to theft, we just have to carry our money and do transactions more practically.
if all the countries in this world converted into Bitcoin then the supply of Bitcoin was slightly not been enough for all the people in this world so it is not possible in the future also.
it has been said that there were only 21million bitcoin supply and the number of people around the world is close to billions but a one whole bitcoin can still be divided into smaller chunks that are called mbtc and sats .
not all can afford to buy a one whole bitcoin , so i think the 21 million bitcoin supply is already enough for everyone . people do also sell and some will buy , so the bitcoins will still circulate and everyone has the ability to own and use it .
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 the countries in this world converted into Bitcoin then the supply of Bitcoin was slightly not been enough for all the people in this world so it is not possible in the future also.
basically, if we look at / read history in the past it has been predicted that in the future there will be no time when the current banknotes that we use will not be of any value and we will all return to using gold as a transaction tool later.
perhaps with the technological developments that have taken place at this time that cryptocurrency is the beginning of the payment means that we use and will later return to gold with crypto coin nominal.
what is clear is that there are many benefits that we can get by using crypto coins as payment and loss, maybe a problem with hackers who will get our coins by breaking into our wallets.
perhaps with the technological developments that have taken place at this time that cryptocurrency is the beginning of the payment means that we use and will later return to gold with crypto coin nominal.
what is clear is that there are many benefits that we can get by using crypto coins as payment and loss, maybe a problem with hackers who will get our coins by breaking into our wallets.
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 the countries in this world converted into Bitcoin then the supply of Bitcoin was slightly not been enough for all the people in this world so it is not possible in the future also.
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 the countries in this world converted into Bitcoin then the supply of Bitcoin was slightly not been enough for all the people in this world so it is not possible in the future also. 
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 will ever fully switch to the use of cryptocurrency. They will always support their national money, because they interact with the country's economy, and the cryptocurrency does not have such an opportunity. So far there are also big problems for the use of cryptocurrency by business structures due to the high price volatility of cryptocurrency. It is most beneficial when using it between citizens. I think even if a country changes their currency with crypto then I will hear it might be destroyed sooner or later anyway, because macroeconomics must have a big effect on the original currency no longer cashless inflation from crypto can not be damed by anything
while the original currency can be calculated and estimated correctly it is rather horrifying if everything uses cashless (crypto)
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.
Here it is necessary to clarify what the expression means "if the states switch to cryptocurrency." If it means that the states will legalize cryptocurrency and will use it along with their national money, then indeed it will increase the level of economic development. If someone suggested that the states will be able to abandon their national money and switch to using cryptocurrencies exclusively, then an economic catastrophe will begin, because a normal market economy will be completely paralyzed. However, no state will ever make such a stupid step. 
I think if all countries convert to cryptocurrency, the market can go bullrun and gradually increasing of price in long period of time because many people will adopt it and can get benefits on it. It will happen because Cryptocurrency can do a lot of things that can easily adopt by any country who have internet.
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.
I believe we want crypto adoption to be mainstream but it's just impossible to happen that it's all crypto in the online market. Our digital currencies will still exist and that makes the market more healthy as everyone have different options, I just don't think we can ever replace fiat.
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.
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.
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.
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.
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.
~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.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.
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.
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. 
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.
Jump to: