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.
Topic: What will happen if the all countries convert to cryptocurrency? - page 24. (Read 12679 times)
September 26, 2018, 08:19:16 PM
September 26, 2018, 07:48:04 PM
Much depends on banks and government. If they see the positive side when using crypto currency, then they will start using it at the national level.
They are never going to see cryptocurrencies in a positive light, cryptocurrencies are an enemy for banks and government because they are allow people to transact money all over the world without the need of any of them, do you think they're going to like a system like that? Of course not and they're going to do everything to stop it. September 24, 2018, 01:32:23 PM
If that happens the prophecy will be grant that digital currency will become world currency and Fiat will no longer be useful at all. But lets face the real truth about those prediction, in the application of the reality it won't be happen anyway for now, maybe in the near future that's possible but still not sure of it, only my assessment to that things anyway digital currency mostly volatile.
September 24, 2018, 01:53:10 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?
This is not impossible in the future and since cryptocurrency brings transparency to all users it will be the best tools to fight theft and corruptions but even in the digital world we cannot escape on criminals hackers etc this thing cryptocurrencies will also be a target of many hackers even most secured networks can be penetrated now by this criminals they can collect huge amount of money without being traced at all there are many ways. September 24, 2018, 01:19:39 AM
If that's going to happen for the first time that all countries will embrace cryptocurrencies then probably it will be the day where we can see an increase of crypto prices as more people are demanding for cryptocurrencies. So many great things is going to happen and different countries have their own strategies too no how they would handle and utilize cryptos to its full capabilities. Surely, it will be an extraordinary day for cryptoworld as a whole.
But sad to say it will never happen bitcoin is volatile it can not be control government would afraid to launch it world wide. hero member
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September 22, 2018, 07:39:05 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.
I think it's not ridiculous. Maybe this will happen in the future as we don't know yet and many of the government still don't use it as the new payment solution, but I think in Japan and Korea, we can use cryptocurrency to buy something in the real world, maybe if I visit those countries, I will tell you
We are in the technology era, so I think it possible to happen, and I know that the government needs to set up everything especially for connecting between the digital life and the real life. Besides that, I am sure that cryptocurrency is not just for trading only or the investment, but it's more than that because, with cryptocurrency, our life will be simple and easy. We don't have to exchange our fiat into local fiat because we can use cryptocurrency to buy something in other places.
September 22, 2018, 07:32:20 AM
If all countries accept cryptocurrency, cryptocurrency can become legitimate currency, and the use of cryptocurrency transactions will become easier.
September 22, 2018, 07:09:16 AM
Advantage:
~ We will be able to transact everything digitally.
~ We are able to help our countries economy as Pay taxes.
~ Investments in other cryptos for gaining profit will not be difficult as everybody accepts crypto.
~ improvement of capabilities of a country through technology.
Disadvantage:
- low price of cryptocurrency of a country will affect the economy of a country.
- exchanger might take advantage of asking high price in exchange.
- at the start of its use, there will be a great struggle to those who are poor and unaware of crypto.
These are only some of the advantage and the disadvantage from my vantage point of view though due to technologies improvement and awareness of people the advantages will be more and lesser disadvantage in the future.
~ We will be able to transact everything digitally.
~ We are able to help our countries economy as Pay taxes.
~ Investments in other cryptos for gaining profit will not be difficult as everybody accepts crypto.
~ improvement of capabilities of a country through technology.
Disadvantage:
- low price of cryptocurrency of a country will affect the economy of a country.
- exchanger might take advantage of asking high price in exchange.
- at the start of its use, there will be a great struggle to those who are poor and unaware of crypto.
These are only some of the advantage and the disadvantage from my vantage point of view though due to technologies improvement and awareness of people the advantages will be more and lesser disadvantage in the future.
September 22, 2018, 06:34:03 AM
everything will be tracked and a crypto tax will appear
September 22, 2018, 02:28:28 AM
if in all countries start exchanging all of them to cryptocurrency then cryptocurrency will definitely be widely used and will make cryptocurrency very expensive because it is certain and I am very confident that demand will become higher and make total supply thinner.
there will much multiple effect from this condition.first thing is cryptocurrency price will rise extremely.and also blockchain technology could improved well by much nations. 
September 22, 2018, 02:21:32 AM
If that's going to happen for the first time that all countries will embrace cryptocurrencies then probably it will be the day where we can see an increase of crypto prices as more people are demanding for cryptocurrencies. So many great things is going to happen and different countries have their own strategies too no how they would handle and utilize cryptos to its full capabilities. Surely, it will be an extraordinary day for cryptoworld as a whole.
If we look at the statement a bit critically, i do not think this will ever happen. All the countries will never be on the same pages due to their political interests. Politics has been in the policies formulation since the beginning. However let’s assume if it ever happen, it will be an ear that will give birth to new concepts and new policies. The demand for USD might fall critically and hence its price as well. One currency will be enough to deal around the world. Besides, the price of Bitcoin will also surge up but as Bitcoin i snot the national currency of US, it will mind seeing Bitcoin replacing USD.
September 22, 2018, 02:14:47 AM
If that's going to happen for the first time that all countries will embrace cryptocurrencies then probably it will be the day where we can see an increase of crypto prices as more people are demanding for cryptocurrencies. So many great things is going to happen and different countries have their own strategies too no how they would handle and utilize cryptos to its full capabilities. Surely, it will be an extraordinary day for cryptoworld as a whole.
The demand would increase the supply decrease which cased bitcoin price will be on moon a lots of good thing will be happen it can be effect on economy too poverty can be decrease. 
September 21, 2018, 08:22:47 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?
If cash is totally gone amd cryptocurrency takes place, yes there will be no more holdapers but there will be more hackers. But, the source of payment which is the crypto can be now accepted at any country. No need to convert Peso to Dollar, Dollar to Peso, and so on and so fort. Every advantage has also disadvantages.
But I think it is really hard to phase out cash.
September 21, 2018, 07:21:06 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 first of all we have to make sure that technology and internet is widely spread around the globe, there are some place that have civilization and population don't get electricity, if the technology is already spread evenly we can go to cashless society than after that maybe the crypto can replace the money system September 21, 2018, 07:10:58 AM
If in the current time, all countries are switching to Cryptocurrency, the world economy may have a problem affecting it. But sooner or later, the world will have to move to Cryptocurrency
Yeah you are right sooner or later the world will use cryptocurrency as their legal and regular currency even in their local markets. The world is turning towards digital currency and as we know bitcoin is the leading crypto in the world, it will take over the market and will be the mainstream in the future. It will take time but the future is that of cryptocurrency. September 21, 2018, 06:26:59 AM
If this happens, then the interaction between the participants of the global market will become simpler, which will positively affect their economy.
September 21, 2018, 05:49:46 AM
If all countries switch to crypto-currency, there will be more mutual understanding on economic issues and there will be no dependence on one national currency.
September 21, 2018, 05:32:16 AM
This may not actually be possible. There will still be some form of opposition to cryptocurrency. But if this opposition can be coerced into converting to cryptocurrency, then it will be very good for the crypto market prices.
I would not say it is not possible to see a lot of countries in the long run converting to cryptocurrency, though it may not seem to be what we want as a decentralized entity, but for countries integrating the blockchain technology, converting the monetary system into crypto and then it being centralized which is definite, as no government will for sure back decentralization, then it is possible. We all already know the impact this would have on the space itself and the economy generally if properly utilized. September 21, 2018, 04:35:51 AM
the world will advance if they are already aware of crypto because this is the fruit of technology that can be useful in all fields. for crypto users this is a thing that is awaited and of course they will have a lot of profit from crypto they keep
September 21, 2018, 04:25:54 AM
if in all countries start exchanging all of them to cryptocurrency then cryptocurrency will definitely be widely used and will make cryptocurrency very expensive because it is certain and I am very confident that demand will become higher and make total supply thinner.
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