Topic: What will happen if the all countries convert to cryptocurrency? - page 27. (Read 12670 times)
September 17, 2018, 10:36:58 AM
What is certain is that when everyone uses cryptocurrency as a payment tool there will be lots of people going and the price of each crypto will rise high and the technology will be used by many people and compete to collect as much bitcoin as possible
September 17, 2018, 10:29:43 AM
That is right that Crypto and blockchain technology today are growing fast, and the wide spread is more and more. The time of digital era is sooner. People now days are interested much in Crypto currency due to its offered system. However, it is to hard to convert virtual currency every countries into crypto currency, because it will rise many problems. I think crypto currency will only be an alternative even thought it can be used for payment but can not change and replace the virtual money.
September 17, 2018, 08:24:29 AM
In order for the crypto currency to become a universal medium of exchange, all countries must unite in one state.
September 17, 2018, 07:01:38 AM
We are toward the cashless society, unfortunately the one in the government's mind is the digital money not crypto currencies, crypto do give a big benefit for the users, it's very easy and convenient to use, I think a country need to regulate the crypto before trying to adopt it, the reason is because crypto is decentralised, without any balance in using fiat and crypto it can cause serious inflation to the country, if crypto being implemented correctly, it will create a better economic situation for the country
I so agree with this. Cryptocurrency is very convenient although not a lot of people in the world are already aware of it. Perhaps when awareness of its benefits are spread to everyone then more people would demand for their governments to legalize crypto. Right now, when I mention cryptocurrency to some of my friends, all they know is bitcoin and the recent fall of it. 
September 17, 2018, 07:00:52 AM
If all countries convert to cryptocurrency maybe the fiat currency will be gone and our purchasing power will not control by the government or banks. Our financial system will be change. But I dont think that fiat currency will be gone and it will co-exist with cryptocurrency. Bitcoin will be our digital gold and if all the people believe and accept it .. The price of bitcoin will skyrocket and will bring big fortune to us early adopters.
Unfortunately, these are things that are going to be a bit hard to see happen as no government will certainly allow everyone to dive into cryptocurrency without trying to bring up some form of limitation as they simply know this would be a very hard thing for them to control over time and the fact that they are losing that control on its own which fiat has given them over time, it would be hard to let go as far as I am concerned. However, in the real sense and logically, this is something that would have happened. September 17, 2018, 06:18:17 AM
If in our imagination anything like this happens then we will be able to transact the borderless transaction very easily and with cheap rates and also we can show the tax proofs for the same. As if currently we can do the same but if we are transacting huge amount of money across the border then it is not good and can be seen as the money laundering act as there are no rules and regulations over it. But things will change in the upcoming days if and only if all the counter start accepting the crypto currency legally. This may affect the current banking system and also the exchanger services which do the foreign trades all the time.
September 17, 2018, 06:10:05 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.
What amazing things to the world and financial sector would the benefits be apart from faster and easier sending and receiving of money? I hope there will be a more specific answer to the question as I am also intrigued by it. Everything seems to be going digital nowadays and I am sure that in no time currency would follow if not this decade but most probably in this century. September 17, 2018, 05:59:19 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.
This will happen one day and I am waiting for that time anxiously but I think it will take long time and will not happen in my life because I am 43 years old, but I am sure that our children will see this new era and the use of bitcoin all over the world. Blockchain will take over the market in the future and the whole world will use only digital currency for their needs. September 17, 2018, 05:29:02 AM
We are toward the cashless society, unfortunately the one in the government's mind is the digital money not crypto currencies, crypto do give a big benefit for the users, it's very easy and convenient to use, I think a country need to regulate the crypto before trying to adopt it, the reason is because crypto is decentralised, without any balance in using fiat and crypto it can cause serious inflation to the country, if crypto being implemented correctly, it will create a better economic situation for the country
Sorry if it sounds ignorant but how could crypto create a better economic situation? I like it for its possibility of convenience in payment and such but I do not know how it would be better economically. I just see crypto as just another type of currency, one that I could use digitally. But yes, if countries regulate crypto it would be great for people for the convenience part. September 17, 2018, 05:25:11 AM
Apparently there is also a discussion about this that is in reddit. https://www.reddit.com/r/newzealand/comments/8xrqho/a_cashless_society_in_10_years/
I guess a lot of people are still skeptical about having a cashless society although, of course, there are also many people who are not necessarily interested with bitcoin that also like the idea of not having cash with them at all times and find it convenient to pay virtually.
I guess a lot of people are still skeptical about having a cashless society although, of course, there are also many people who are not necessarily interested with bitcoin that also like the idea of not having cash with them at all times and find it convenient to pay virtually.
September 17, 2018, 05:22:09 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 all countries are converted to cryptocurrency for sure every transaction will be on blockchain technology or simply it will be digitalized. The advantage of it every transaction will be fast that you don't need to fall in line in shopping malls, but the disadvantage of it is it will be easier for hackers to steal all of your money. September 17, 2018, 05:20:42 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?
Most of the people are going to be happy since there are a lot of people today who wants a digital transactions in order to have efficient and fast transferring of money on different market and online stores.
September 17, 2018, 05:17:40 AM
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?
actually that's the thing I'm waiting for that crypto can be used as a transaction tool, but the problem is that the government hasn't legalized it. I don't think there is a loss, it's just that crypto is difficult to control.I guess that is a start. A lot of them do not totally consider bitcoin as a legal currency but most on the list are already accepting of it. This looks like a good sign. I am thinking that once banks find a way to control crypto, more countries will legalize it.
September 17, 2018, 05:09:24 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?
Its very possible. Once the banks start to take over the cryptocurrency market and have 100% control over it, that when its ready for mass adoption.
The advantage would make it very easy for banks to track your payments for you.
Theres no disadvantage because it will be the banks job to process your payments directly without the need for physical cash.
Are those the answers you were looking for?
September 17, 2018, 02:43:45 AM
If all the countries all over the world accept bitcoin and convert to currency.. then there are many things happen.. changes in the system and changes in their economy and among others, off course there will be advantages such as fast transaction and everything turn out to be digital, but then again there are also some disadvantage such bank would be less and less client and so their worker is, as a result addition to unemployed people. For me that's not possible, countries convert to cryptocurrency? No. We used to follow the traditional way and mostly people prefer to stick with what's usual.
September 16, 2018, 09:50:53 PM
If all the countries all over the world accept bitcoin and convert to currency.. then there are many things happen.. changes in the system and changes in their economy and among others, off course there will be advantages such as fast transaction and everything turn out to be digital, but then again there are also some disadvantage such bank would be less and less client and so their worker is, as a result addition to unemployed people. 
September 16, 2018, 08:36:30 PM
True pating digital is indeed easier. But the fact remains that we need a heck of alot of infrastructure to make it possible that every man, woman and child coukd have access to their crypto currency account. S big hump also is the fact that crypto currency is internet based. I doubt that everyone has internet access in their pockets.
September 16, 2018, 07:55:10 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 all countries will turn their fiat currency into digital currency then it is a great opportunity for the holders today. BTC will hike and we will expect a large amount that bitcoin and altcoin will increase. Aside from that, ICO are meant to be regulated specially that the government upholds the system. I think it is advantage in the part of current people who knew already this industry and those who have already coins to be hold. September 16, 2018, 07:25:40 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?
I think that's the time that all people living around the world are learned about digital money currency and know how to use in different kind of transaction. And crypto currencies is entitled as a new generation of currency as replacement of fiat money.
September 16, 2018, 06:59:24 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?
Most of the people are going to be happy since there are a lot of people today who wants a digital transactions in order to have efficient and fast transferring of money on different market and online stores.
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