What will happen if the all countries convert to cryptocurrency? - page 28.

creeps

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Quote from: juki35man on September 16, 2018, 01:56:28 PM

the biggest risk is in terms of security
because digital assets are badly hacked by others
but in terms of its many benefits we will get from efficiency etc.

Security will be no longer an issue if anyone accepts cryprocurrency, even government will ensure that for sure. This will not be easy, government will not make that easy crypro enthusiast should be more patient for this one and if everyone used cryptocurrency then the price will go higher.

orarider

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All will be upset. The world monetary system will face many difficulties. Banks will disappear. The first investors will earn huge profits.

tsinelas

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Quote from: scoin9 on September 10, 2018, 07:34:31 PM

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.

Cryptocurrency have the advantages in the part of trading industry, which have a less fee, anonymous and can be used worldwide. Do we really need to transact worldwide when there's a good economy in our country? If all the countries convert to crypto, i think the crypto can control everything and we would not like that. We are people created by God, we are the most intelligent creations , so think before you agree.

Girlsbit

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It will be great. Finally, our economy will move to a new stage of development.

newbie-hero

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Quote from: carlisle1 on September 15, 2018, 07:45:30 AM

Quote from: Sherwood_Archer on September 10, 2018, 07:06:40 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?

The advantage is everything will become accessible and accurate in regards to virtual payments since it was cashless,but the disadvantage is wht about in instances that internet is not available and we need to be electronic free transacting,better not to expect a cashless society because this will never happen for sure

Globally, the cashless society is not possible at all. Never forget about the counties where people do not even know how to use the phones. They might never have the Internet.

Norihiro

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APOLLOX Protocol

If that will happen probably market cap will increase to unreal positions like 5 trillion or even higher, just imagine worth of all money in the world, it is around 200 trillion, if I'm not wrong.

Bionicgalaxy

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Quote from: Sherwood_Archer on September 10, 2018, 07:06:40 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?

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.

juki35man

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the biggest risk is in terms of security
because digital assets are badly hacked by others
but in terms of its many benefits we will get from efficiency etc.

burakdat

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"I invest and Doing Bounty Campaign"

Quote from: Sherwood_Archer on September 10, 2018, 07:06:40 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?

It could be impossible because as we all know that bitcoin and other cryptocurrency are decentralized in form and where ever economics book you will read there is no good thing to have an absolute decentralized system. This is why decentralized and centralized system should be balance and should not be taken absolutely because it could not do good with a certain organization.

sempak bulong

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Quote from: Sherwood_Archer on September 10, 2018, 07:06:40 PM

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.

Neraj Evad

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That will be the time the bitcoin will really be recognized and the holders of this bitcoin will have the comfortable way of using their bitcoin anytime , anywhere in the world and the bitcoin is legit and accepted anywhere.

justspare

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Quote from: reynald70 on September 12, 2018, 07:08:52 PM

Quote from: TranTrongit on September 12, 2018, 09:05:28 AM

If it happens it will be very interesting. We will make a quick and convenient payment on a daily basis using crypto. But I think it's impossible. How do governments and banks accept crypto? Most crypto are decentralized. and they can not control them.

Yes, that's right, today there aren't many governments in the world that accept bitcoin as a currency in their country. because bitcoin is anonymous in transactions, there is no institution that regulates it. so it's very difficult the whole world can use Bitcoin as a legitimate payment. it takes a long time for Bitcoin to become the legal currency in the world.

Yeah, no government likes the idea of decentralization, but you also have to understand that you can decide to create a centralized coin on the blockchain anyway. We have so many of them starting with ripple, yes, it is centralized. Then we have the stable coins like USDT, TUSD and so on. Now, my point is that it is definite that most governments at a point will want to tap from the blockchain technology and discard the printing of money, since everything is simply going digital these days anyway and with that, we could just see other decentralized digital currencies going hand in hand.

cryptoalfs76

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▰▰▰ MODULE ▰▰

Quote from: Sherwood_Archer on September 10, 2018, 07:06:40 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?

Will,if we approximately happen if all country been convert the monetary fund into cryptocurrency and become a cashless society i thinks its great advantage,to those all of us,because we create a worlds thats make all transaction become easier,and everythings would become possible in crypto world and everything would become convenient,otherwise this all only speculation,but why not if this would happen,its a big positive impact to all of us,especially in the part of this community.

winterland

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This is probably one of those questions that you can ask but that you're not going to get a meaningful answer because it's going to be impossible for all the countries around the world to convert to cryptocurrencies, I think that only a few countries will do that, and that will happen when people lose confidence in the currency printed by their governments and a possible case could be Venezuela.

Oasisman

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Quote from: Sherwood_Archer on September 10, 2018, 07:06:40 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?

Cryptocurrency would not be the 1st nor to the 5th option if a nation decides to implement a cashless society. Volatility and decentralization is the main reasons. Cashless society means, creating digital wallets through mobile phones, or online accounts and wallets that could be accessed by several physical scanning. The government are more likely to allow this if they have the full control to everything, since the idea of cashless society allows our transactions being transparent, thus preventing fraud and illegal activities. But, there are always a drawbacks that can be developed on the latter part.

optap

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all will become legal and less valuable

SkvorNyc777

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Swipe!

I think that economical system will become more fair actually because crypto is devoted to bring fair ideas into todays economics.

Larva14

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Quote from: Sherwood_Archer on September 10, 2018, 07:06:40 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?

It is good and transaction will be more convenient and fast, however many scammers and hackers will used it to exploit other accounts which can be resulted in hacking and stealing of money. It is need to have more better security for everyone. Also many things will be have taxed, which we don't experience right now. Maybe also the transaction will be taxed.

boboto

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I think that everything will be taxed

stephanirain

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Freshdice.com

Quote from: Cryptoville247 on September 15, 2018, 08:20:49 AM

We all are still patiently waiting for this to take off in every country. This is going to be very good for cryptocurrency. It means by then, we should be celebrating a lot of crypto millionaires.

People who are using cryptocurrencies are all waiting to be used by everyone in the world because it will have a more better future if all the countries start to convert to cryptocurrency. Hoping that one day countries will start to accept cryptocurrency.

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