Topic: What will happen if the all countries convert to cryptocurrency? - page 21. (Read 12679 times)
October 11, 2018, 03:46:33 AM
many countries at the moment are simply not ready to switch to a payment system of cryptocurrencies, especially in African countries. In the future, this is a possible variant, but this transition can last for years and without doubt it will only bring benefit.
October 11, 2018, 03:45:32 AM
Cryptocurrency adoption will take a long time IMO. Just like credit cards, first it was quite rare, now almost everybody has it, at least where I live.
October 11, 2018, 03:16:05 AM
But whether these countries are ready with the application of cashless technology when viewed from the readiness of their infrastructure, especially in developing country. Unpreparedness in applying the new technology will actually worsen economic conditions.
October 11, 2018, 02:24:21 AM
countries can not convert to cryptocurrency my friend. people can start using cryptocurrencies more often. crypto is decentralized so it is not related with any government or country. and meaning of cryptocurrencies is there are no taxes or commissions, so governments are scared about cryptocurrencies.
October 11, 2018, 02:05:04 AM
I believe that cryptocurrency still has a long way to accept and legalize worldwide as a means of payment. Nevertheless, at the moment many projects and technologies are being created, which will make it easier and more convenient to use digital currencies as a means of payment.
October 10, 2018, 07:38:36 AM
The moment all the countries convert to crytocurrency would be the beginning of many amazing things to happen to the world and the financial sector, the process sending and receiving funds worldwide would become very fast and easy, it would lead to growth of businesses and make life easier for citizens of the world.
I agree with this. The currency will come to a new face. The cryptocurrency will lead the world and help everyone to have a better life. Easier and accessible transactions will be done at the same time fastest way. This will help our daily task to be an instant. This thing is not impossible to happen so lets just hold for now.
If you do that on a global scale you can have countries with less economical problems, if there was one currency in the whole world than you could have done better with countries like venezuale and turkey and won't have those however countries like greece would cripple everyones economy even if you are doing well. So you are giving at the same time but getting nothing in return aside from headache.
hero member
Activity: 2912
Merit: 541
Leading Crypto Sports Betting & Casino Platform
October 10, 2018, 03:56:36 AM
Then the mass adoption of cryptocurrency will explode and will success since all people will know about cryptocurrency. I am sure that they won't let the chance is gone because now, they can get the benefits of cryptocurrency. They can have a new type of investment, and I think they will start to invest their money in crypto. It will bring new changes in all countries, and the new era will begin.
October 10, 2018, 01:29:38 AM
If all countries or all people use crypto there is no exchange rate which means they will make their own coins to replace their national currency. I just thought it was just a thing that should not be applied or wanted for the future.
October 09, 2018, 11:26:46 PM
I doubt most governments will allow their currencies to become real Cryptocurrency. The immutablity and transparency of Blockchain will scare them off.
They'd probably create their own version of Cryptocurrency like Venezuelan petro or Cryptocurrencies that would enable them print money of thin air in total secrecy..
They'd probably create their own version of Cryptocurrency like Venezuelan petro or Cryptocurrencies that would enable them print money of thin air in total secrecy..
It will not happen globally but I can admit that in a few years, many European countries will start using the cryptocurrencies more actively. For instance, many people in Germany regularly use the cryptos now.
October 09, 2018, 11:22:33 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?
On the non-cash form of payment of the state can go further. However, they will never be able to fully switch to the use of cryptocurrency. Cryptocurrency can never replace the national money of states. This is absolutely unrealistic in view of the fact that a decentralized cryptocurrency has a very high volatility, but on the other hand, it can in no way be associated with the economy of a particular state. October 09, 2018, 11:02:17 PM
All countries converting to cryptcurrency means a good news to the entire crypto market. The market will see full green for a long period because there will be an increase demand as users trade with the various coins on the market.
October 09, 2018, 10:50:45 PM
One thing is if everyone is using crypto currency then everyone vould have access to the internet anywhere since it will be used for businesses. Next, if everyone is on crypto currency, I'm sure that countries will create their own coin so they can at least maintain a certain control on the market. Lastly, every one will have to have register so people will not use it for laundering.
October 09, 2018, 04:47:48 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?
No state can fully switch to using cryptocurrency only. If this happens, especially in many states, chaos will simply begin and the economies of the states will collapse. Therefore, no state will ever fully switch to the use of cryptocurrency. Cryptocurrency can go in the state only in parallel with the national money of this state. October 09, 2018, 02:49:16 PM
loss for myself, I think almost nothing. but for the country, that is clearly a big loss. because transactions using crypto are not taxed at all. and also when fiat is not used, it means that the economy in the country cannot be said to be advanced because there is no longer a benchmark for the value of their currency.
for example, import and export, is a country's economic activities to improve their economy and their currency exchange rate. if all use crypto, it will be difficult because crypto is racing against global exchange rates, not individual countries,
but for personal use, I think crypto is pretty good, but still not on a large scale or to make large transactions overseas. because the country really needs tax.
Governments need taxes, I agree with that, but the amount of taxes that they are charging you and the general population is simply too much, the current taxation level is unsustainable and at some point in the future governments will need to accept the fact that they cannot be as big as they want to be and they will need to reduce their taxes. for example, import and export, is a country's economic activities to improve their economy and their currency exchange rate. if all use crypto, it will be difficult because crypto is racing against global exchange rates, not individual countries,
but for personal use, I think crypto is pretty good, but still not on a large scale or to make large transactions overseas. because the country really needs tax.
October 09, 2018, 04:33:07 AM
At the moment, such changes can greatly affect the economy of the countries, as the cryptocurrency market has great risks. To begin with, it is necessary to organize market control in order to avoid fraud.
what you have said now is that the central bank has started investing in crypto even though it is not clear. in front of them they prohibit crypto from developing but behind them they continue to try to catch up with investment from many people. which I fear when they dominate certain crypto, they will be free to create prices and regulations as they wish. this is far from the blockchain philosophy
October 09, 2018, 04:24:50 AM
If Country start using cryptocurrency, i think they should have a regulation about it. It will good for cryptocurrency market because crypto industry will growing more bigger with support from government
I might possible that the price of bitcoin will never decrease its become non volatile and people use it as world wide currency.On the other side it can be used in crimes too. Criminals can sell there drugs more plus it can be effect on economy 
October 08, 2018, 04:35:08 PM
i think if all countries using crypto, there are so much banks that are collapse, because with crypto we never need a bank because we have our own bank
Bank as a supplier of fiat currency (the product of a country's pride). The bank will forever remain and it cannot be demolished by anyone, as long as the country that protects it still exists, and the bank will still get a number of benefits from the transaction fees, which we spend, especially when we exchange cryptocurrency into fiat/conventional currencies, or when we buy cryptocurrency.
Good connection iMark. I can only imagine that banks and money are the only choice for a country, to use it as a tool / asset / indicator to advance its economy, even though the country is suffering, for example, hyperinflation, as is the case in Zimbabwe or Venezuela. That's when crytocurrency will enter the joints of the economy of its citizens. However, crytocurrency in attendance will only be an option (as said iMark).
i think if all countries using crypto, there are so much banks that are collapse, because with crypto we never need a bank because we have our own bank
Bank as a supplier of fiat currency (the product of a country's pride). The bank will forever remain and it cannot be demolished by anyone, as long as the country that protects it still exists, and the bank will still get a number of benefits from the transaction fees, which we spend, especially when we exchange cryptocurrency into fiat/conventional currencies, or when we buy cryptocurrency.
It is just one number ommited from someones account and goes back to someone elses account. I wouldn't be shocked if countries decide to create their own currency and create a crypto currency that will be basically doing the same thing as the fiat currency they are using right now.
Along with the development of technology, various innovations also continue to be developed, including the financial sector. The presence of new technology has been able to modernize one's life and fiat currency performance, especially in the area of transactions. The fiat currency of this century, is not always presented in physical form, the government / banking has formed into two types of money namely physical and digital (as said ausbit). That means where there has been a shift in objects / types of currencies, from physical to digital forms, even there are already several countries, which implement blockchain technology into their transaction systems. If they have understood blockchain performance, it's not impossible 'cryptocurrency, government version too' maybe will be created.
October 08, 2018, 09:32:52 AM
global crisis begins. and sanctions over the economy become more effective.
some countries are making the necessary arrangements to work with domestic currencies because of the economic embargo imposed by the United States. this is a precaution. if the entire world begins to work with crypto, it causes a global crisis. sources of the whole country are not enough.
some countries are making the necessary arrangements to work with domestic currencies because of the economic embargo imposed by the United States. this is a precaution. if the entire world begins to work with crypto, it causes a global crisis. sources of the whole country are not enough.
October 08, 2018, 09:13:33 AM
Actually just forgot to bring cash to the market today, and only realised, when I was about to pay. Felt quite stupid 
Wouldnt miss cash.
Wouldnt miss cash. 
October 08, 2018, 09:06:11 AM
If Country start using cryptocurrency, i think they should have a regulation about it. It will good for cryptocurrency market because crypto industry will growing more bigger with support from government
Maybe a lots of new thing would appeared. The price of bitcoin increase and the people use bitcoin more than now. People will sell there gold, silver everything just to increase their money. If that would happen that is a big blessings for all bitcoiners. A convinient and easy to transact, a modern technology make our life better.
Jump to: