maybe, there will be a global economic crisis. because the majority of people in the world do not understand and know how to use the crypto currency. so that they will experience difficulties in transacting and need a longer transition time to study the crypto currency. and the financial system of a country will experience an overall change.
Exactly, a chaos with global scale, people are constantly looking for methods to convert cash into cryptocurrency, the pressure for banks will be extremely huge, companies and businesses will be stagnant in paying their wages and paying costs. In short, hundreds or millions of problems will suddenly arise and there is no solution, and of course, because the government knows this, they will not allow cryptocurrency to destroy the stability of the economy and currency. 
Topic: What will happen if the all countries convert to cryptocurrency? - page 29. (Read 12670 times)
September 15, 2018, 10:10:40 AM
September 15, 2018, 09:54:23 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
Many dozens of years must pass before all of the counties start to use the cryptos as their main currencies. Yes, the mankind has already made a great step into the cryptocurrency world but still, fiat plays the main role.
September 15, 2018, 09:33:27 AM
every country works to be strong. for example, to have a strong army. or to have a strong economy. the crypto makes the whole world equal in trade. so no government wants it. this situation can not be useful anyway. yet the infrastructure is not enough around the world. maybe 100 years later.
September 15, 2018, 09:20:49 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.
September 15, 2018, 08:56:44 AM
maybe, there will be a global economic crisis. because the majority of people in the world do not understand and know how to use the crypto currency. so that they will experience difficulties in transacting and need a longer transition time to study the crypto currency. and the financial system of a country will experience an overall change.
September 15, 2018, 08:45:30 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?
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
September 15, 2018, 08:25:38 AM
Maybe crypto currencies will revolutionize the world. And making its crypto currency recognized as a global currency in the future.
That would be a very big maybe. Cryptocurrency being recognized as a global currency with high level of adoption is totally different from it replacing fiat. As it is, what this topic is so much about is seeing a time coming where everyone will simply convert to cryptocurrency. As cool as that sounds, it is unrealistic. Everyone can certainly not end up using cryptocurrency as that would first of all take a long time before we even get to hit some good level of mainstream adoption and the fact that it would be hard in terms of the technological aspect for certain people to have access to it.
September 15, 2018, 08:23:31 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
Many dozens of years must pass before all of the counties start to use the cryptos as their main currencies. Yes, the mankind has already made a great step into the cryptocurrency world but still, fiat plays the main role.
September 15, 2018, 03:32:09 AM
The moment every country decides to convert to cryptocurrency, that is when the prices of all cryptos will just skyrocket. But I really don't know if this will happen in future.
maybe yes and maybe maybe not, I think there might be some countries not beautiful to cryptocurrency, for example in the country of Indonesia still prohibits bitcoin and crytocurrency as a substitute for money in Indonesia. September 15, 2018, 12:16:28 AM
That’s what they call digital currency at work. Something we look forward to see in the future that all are into crypyocurrency. It will give many advantage in its use for everything. No hassle. The struggle probably will only be at tge start but will be well as time goes by.
September 15, 2018, 12:07:08 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
September 14, 2018, 10:03:29 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?
Everyone should go and adapt the new technology in which there is no permanent in this world except change so either we like it or not we should embrace crypto if it will happen to supersede fiat. One advantage is the whole world is united to acknowledge Crypto in which we can use it anywhere but i see the disadvantage with the poor as most of them might be difficult to learn the new system of currency.
September 14, 2018, 07:20:09 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?
Maybe there will be no fiat currency if they all use crypto currency. Local currency will disappear over time. That will make the world chaotic to see their own currencies no longer exist.
September 14, 2018, 05:17:26 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?
Think of it as a more advanced model of the current model. The money will move faster, we will pay less fee and etc. This will be good for us. Nobody can keep a secret from anyone. We will even be aware of how much money is on the wallet of the governments. There will start new era which noone can intervene economy. Personally, i can bear disadvantages.
September 14, 2018, 03:33:51 PM
This will never happen. No state will use only crypto currency. Money always depended on the economy of the state and the rate of national money always testified about the state of the economy, that is, the national money was and is a reflection of the economy of each state. Crypto currency will destroy everything. Therefore, no state will voluntarily go on destroying its economy.
September 14, 2018, 02:00:58 PM
If all countries convert into cryptocurrency. We can see the beginning of a new era. An era of a cashless society and everything will be paid in cryptocurrency.
Yes, if all states switch to the use of crypto currency, a new era will begin - the era of economic chaos and very quickly, if the usual currency is not restored, people will switch to using the barrier, as in cave times. The value of gold and other jewelry will increase. This also, probably, will mean the end of the crypto currency. Therefore, such experiments can not be done. Crypto currency can only go in parallel with national money and fantasizing about a complete transition to the use of crypto currency is very dangerous for the economy of each state. 
September 14, 2018, 01:28:00 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?
Right now the biggest disadvantage of paying with bitcoin is that you need to wait for a confirmation, right now that is not a big problem because the network is not very busy but when the price of bitcoin goes up the transaction fees go very high and you either have to pay a high fee or accept a very slow confirmation for your transaction, this could lead you to the ridiculous scenario in which you need to wait hours in the store just to get a confirmation. September 14, 2018, 11:45:57 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 could be the evolution of currency as more people will prefer to go cashless. Although this is far to happen due to opposition with government against cryptocurrency. I think this will not happen in our lifespan as the society is not yet ready to go cashless. Although cashless is already being practice with the use of credit cards but using crypto to go cashless will increase the hackers as they can empty your wallet if you don't take extra care. 
September 14, 2018, 10:22:28 AM
I consider this outcome as extra positive and unrealistic. I predict that only several countries with low circulation of cash money will convert to crypto currencies.
One of them is Sweden. High percent of internal transactions are executed via digital currency, so it is not that hard to implement crypto as a method of payment.
I bet once Sweden buy bitcoin to fill up currency reserves of the country even if it will be a small amount, like some percents, BTC will go to the moon. Domino's effect can happen next and some countries will follow steps of this progressive country.
One of them is Sweden. High percent of internal transactions are executed via digital currency, so it is not that hard to implement crypto as a method of payment.
I bet once Sweden buy bitcoin to fill up currency reserves of the country even if it will be a small amount, like some percents, BTC will go to the moon. Domino's effect can happen next and some countries will follow steps of this progressive country.
September 14, 2018, 09:09:33 AM
I think if the whole world starts to change their currency with crypto there will be a little instability, due to several points
1. how do we differentiate between one country's currency and another
2. how do we make a purchase if one currency has different values
3. how do we exchange with people who still don't understand technology will be very difficult,
1. how do we differentiate between one country's currency and another
2. how do we make a purchase if one currency has different values
3. how do we exchange with people who still don't understand technology will be very difficult,
Jump to: