Topic: What will happen if the all countries convert to cryptocurrency? - page 30. (Read 12679 times)
September 14, 2018, 07:15:21 AM
It will be difficult to say if the countries will convert to cryptocurrency. I don't see any such possibility. However, it will not be a very spectacular thing if it does happen. The narration of the capacity and capabilities of cryptocurrency is being overblown.
September 14, 2018, 07:02:00 AM
The disadvantage is that wallets would be transparent to hackers. That is why you should store your coins in many wallets with a good security. And if all countries convert to cryptocurrency, we will not have to see the price because there will not be any money to buy crypto. Honestly, I do not want all countries to start relying on crypto because crypto does exist because of fiat currency. They both coexist. But I like to be more optimistic about crypto in general.
September 14, 2018, 06:58:52 AM
If granted that all countries convert to cryptocurrency ,then this will bexthe reality that cryptocurrency will be in its era , the people which are holders of bitcoin would be glad that this is now the time of a cashless society.
September 14, 2018, 06:07:51 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 13, 2018, 07:21:42 PM
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 13, 2018, 06:53:00 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?
USD would immediately lose its position as global reserve currency.Digitalising would definitely help to consume time and make ease the process.But allowing cryptos would definitely be a challenge for governments as it would be difficult for them to trace all transactions. 
September 13, 2018, 11:22:00 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?
Well the disadvatages would be goverments would not be able to make more money. I think sometimes goverments could help others by making more money to prevent devaluation and inflation. But i think it would be really convenient to use digital currency in everything in our daily transaction. September 13, 2018, 09:16:07 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 switched to using cryptocurrency, trade exchanges will take place quickly and more smoothly nowadays. Just have the Internet as you can buy and trade with anyone around the world. However, as I repeatedly mentioned, cryptocurrency still exists many risks and has not yet been able to fully control so the idea you mentioned can only be in the future. September 13, 2018, 03:08:48 AM
If all countries convert to cryptocurrency , that would mean that technology has well tsken over and that businesses can now transact effortlessly etc
September 13, 2018, 02:46:48 AM
If countries convert the crypto market. That would be a simple, convenient exchange. The development of the digital age will not be limited by government regulations.
September 13, 2018, 02:21:13 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?
Progressive country, that will happen to all country if ever crypto currency would be the primary use in all transaction specially in bitcoin crypto currency. we have to suffer the difficult situation in the beginning but after how many years by using Bitcoin process all transaction of become very easy use.
September 13, 2018, 01:56:43 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.
I agree with this. The currency will come to a new face. The cryptocurrency will lead the world and help everyone to have a better life. Easier and accessible transactions will be done at the same time fastest way. This will help our daily task to be an instant. This thing is not impossible to happen so lets just hold for now.
September 13, 2018, 12:08:59 AM
If all the countries invest in cryptocurrency then we will see cryptocurrency market as trillion dollar business which will happen sooner or later by this coming year 2019
First it is impossible to happen because every country will always manage their own local currency, but if they think that happens, of course the price of each coin in cryptocurrency will have a very high price, let alone bitcoin, with mass adoption of course the price will soar 
September 12, 2018, 11:39:03 PM
Easy and Fast transaction, and if this happen in all over the world, this probably safe, for sure they improve security in transaction. But this is far away, but we hope this happen in the future.
September 12, 2018, 11:17:58 PM
States will not switch to the use of decentralized crypto currency instead of their national money. This is utopia. It can only allow the circulation of decentralized crypto-currency in its territory along with its national money. Citizens can use any kind of crypto currency, but this will not have any significant impact on this process.
September 12, 2018, 07:38:24 PM
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.
September 12, 2018, 07:22:37 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.
you say it right but if all countries convert to bitcoin then bitcoin delivery and receipt will be very slow, you can imagine yourself if every day there are 1 million more transactions while 1 transaction takes 15 minutes, so you can imagine it will be very slow with this long queue, and this is specifically for converting to bitcoin, but it might be different if you convert to another coin that has a faster confirmation speed than bitcoin. September 12, 2018, 07:16:28 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 might happen soon and i'm pretty sure that the value of each bits is more than the value today.The advantages of it is that, it could be faster than to transact than the banking system today and i know there is new regulations that will going to implement to us in the system before we can use the crypto currency freely in the future.
But this kind of thought is too futuristic to happen soon in our life and maybe it will happen after 20-50 years from now. I don't know what kind of technology could someone has to create during that time but i'm pretty sure it's an amazing technology.
Not all countries want transparency and a finite supply of their currency. Just look at how many countries have corrupt governments just want to fill their own pockets...a decentralised ledger does not make that easier.
Therefore it is unlikely we see all countries evolve, but I also think it's realistic to see at least a majority of countries adopt and replace fiat with crypto in the next decades...a possible next financial crisis might be a catalyst to speed the process up.
These two giant countries in the scene of technology will make a great new discovery in the future but it's just too far to happen yet.
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a possible next financial crisis might be a catalyst to speed the process up.
I don't think this could happen in most major countries but i think someone will fill their gap in financial crisis to make it happen.Japan is probably among the most likely countries that would be doing such a step, after all Japan has the most crypto friendly and suportive government in whole asia, after all they are very proud as Satoshi Nakamoto seems to have japaneese origin, even though no one could track him down so far.
September 12, 2018, 07:08:52 PM
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. September 12, 2018, 06:32:00 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?
We all be rich theb bitcoin price coukd increase ten folds from its currebt ath.. It will be better for the community and technology
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