Topic: What will happen if the all countries convert to cryptocurrency? - page 23. (Read 12677 times)
September 29, 2018, 05:35:47 AM
This is unlikely to be achieved. I don't think the number of countries can solve the problem. Only quality can solve the problem. For example, joining the cryptocurrency in the United States may be more meaningful than joining 20 African countries.
September 29, 2018, 05:18:10 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?
Do you have any reason as to why every country should convert to cryptocurrency? And in case you don’t know, there is no country making use of crypto, they still use fiat and none is making such plans to replace their currency with fiat. I like Bitcoin a lot and it has really done much for us, but to make it a country’s currency, nope I’m not in support of that cause it’s likely to cause bigger problems than what we are seeing now.
September 28, 2018, 11:04:55 PM
to be able to change the cryptocurrency payment must make the economic conditions in the country be good first and provide information about cryptocurrency in the country so that many people can use it and I think that will make the country very risky and maybe it can make the country a developing country
September 28, 2018, 03:33:14 AM
I am not trying to over exaggerate here, but I believe the price of BTC will hit $100,000 if all countries accepts to convert to Bitcoin or cryptocurrency. Online businesses may benefit from it too.
that you are modest - if the whole world goes over to crypto-currency - the price of bitcoin will simply be prohibitive. but to use it unfortunately can not all - a third of the world's population do not own the skills of using the Internet. so that everything else will get to ones.
September 28, 2018, 01:49:25 AM
I am not trying to over exaggerate here, but I believe the price of BTC will hit $100,000 if all countries accepts to convert to Bitcoin or cryptocurrency. Online businesses may benefit from it too.
that you are modest - if the whole world goes over to crypto-currency - the price of bitcoin will simply be prohibitive. but to use it unfortunately can not all - a third of the world's population do not own the skills of using the Internet. so that everything else will get to ones.
September 28, 2018, 01:38:29 AM
I am not trying to over exaggerate here, but I believe the price of BTC will hit $100,000 if all countries accepts to convert to Bitcoin or cryptocurrency. Online businesses may benefit from it too.
that you are modest - if the whole world goes over to crypto-currency - the price of bitcoin will simply be prohibitive. but to use it unfortunately can not all - a third of the world's population do not own the skills of using the Internet. so that everything else will get to ones. September 28, 2018, 01:35:35 AM
I think everything will be more honest - than we say with banks. % of transfers will be small - cash will simply disappear from life. the development of progress will go by leaps and bounds.
September 28, 2018, 01:34:00 AM
The fact is that the question - if - can be said is resolved. now it's just a matter of time. Crypto-currency is quietly reclaiming its place.
September 27, 2018, 07:06:54 PM
I am not trying to over exaggerate here, but I believe the price of BTC will hit $100,000 if all countries accepts to convert to Bitcoin or cryptocurrency. Online businesses may benefit from it too.
September 27, 2018, 06:56:50 PM
In my opinion, although cryptocurrencies are convenient, it can't be good for economic if we stop using cash at all. Also in some situations it won't even be convenient.
September 27, 2018, 06:05:21 PM
If all countries convert their money to cryptocurrency, in principle there may be various benefits: simple efficiency of instant global electronic transactions, preventing forgery, recording and monitoring better transactions, no printing machines, etc.
But, there are major losses here. The first is that decentralization will be eliminated by "central digital currencies" and this will even be more centralized than the existing system. And another disadvantage is privacy. Cash is anonymous, giving people some freedom to spend money without having to worry about explaining their actions. But, crypto money released by the government will remove all privacy from your expenses.
But, there are major losses here. The first is that decentralization will be eliminated by "central digital currencies" and this will even be more centralized than the existing system. And another disadvantage is privacy. Cash is anonymous, giving people some freedom to spend money without having to worry about explaining their actions. But, crypto money released by the government will remove all privacy from your expenses.
September 27, 2018, 04:45:18 PM
All countries that switch to using electronic money will be a great future for the cryptocurrency market. Then you will not need to carry cash but still be able to travel around the world only with the phone has his crypto wallet. I hope that the day that the world use cryptocurrency will not be far.
September 27, 2018, 04:30:10 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
September 27, 2018, 03:33:11 PM
That will become the togetherness of cryptocurrency around the world , this means that ,cryptos are accepted abd this will lead to the users ,the customers and investors to be more comfortable if the countries are really to accept the cryptocurrency technology around the globe.
September 27, 2018, 03:01:57 PM
everything will be tracked and a crypto tax will appear
The tax might appear but I do not think that it will happen ever. The counties prefer to use their own money, fiat, and the cryptocurrency still seems to them something very unprofitable and flexible.
September 27, 2018, 11:26:33 AM
the one thing that we will see is people don't carry too many cards in their wallet and they only need one wallet which supports for making payment of the transaction. although fiat still uses, with the cryptocurrency, it makes people easy to buy something and they can easily to transfer the amount from their wallet to the other wallet. maybe this will happen in the future when all countries convert to cryptocurrency.
I dont understand how that will make the government to think about the application of crypto currency in the real world and thus change everything from the fiat to the crypto currency. Thats utterly ridiculous. The crypto world and the real world are different things. They both run on trust factor and fiat runs more onto the traditional way of trading which is running since thousands of years now. The banking sector is very much strong in handling all the current financial situations with its tried and tested system which keeps improving itself all the time. I dont think crypto fit in somewhere here, its gonna take the lifetime.
September 27, 2018, 11:01:05 AM
I don't think this will even be possible because the current system runs on debt. With cryptocurrency you can't loan money that you don't actually have. With fractional lending banks create money out of thin air.
September 27, 2018, 10:53:30 AM
A terrible idea. Once all the countries convert to cryptocurrency, the less advanced countries will be taken advantage of more advanced countries. Many skilled hackers can infiltrate exchanges with cutting-edge securities, what more if the wallet (of some sort) of a country got hacked? It could potentially ruin a nation.
September 27, 2018, 10:32:10 AM
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This is a great point. As someone who has internet connection 24/7 and everyone I know is the same, I totally forgot that we all have to have the technology on all corners of the world to be able to implement totally cryptocurrency use. So stupid to let my privilege not make me think about something as simple as that.
September 27, 2018, 02:14:58 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?
I think if that would happen then transactions would be more easier. Its a hassle free for everyone but it would be impossible to become true for it needs a process to implement. Jump to: