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 this can happen all over the world, then cryptocurrency will be recording its greatest boom ever. Let us all pray for this to happen. 
Topic: What will happen if the all countries convert to cryptocurrency? - page 34. (Read 12679 times)
September 11, 2018, 06:50:38 AM
September 11, 2018, 05:51:55 AM
the advantage is that the initial investors will get very basic profits. prices will soar fiat will be lost replaced by crypto
September 11, 2018, 04:48:25 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?
It doesn't really make a difference in my opinions.
If nations convert to cryptocurrency as an entire state then it means that they are simply issuing fiat in another form. The currency being issued is still going to be centralized, except it is on a blockchain. It's sort of going to be like a national cryptocurrency scheme such as the Petro, I'd imagine.
It is going to be convenient but it's not going to be any different from the fiat we've got now, just in an online form and stored on a blockchain ledger. Unless it's a grassroot movement to adopt decentralized cryptos as an alternative currency, I don't think this is necessarily good news if any country does do it as it essentially allows the government to exert even more direct control over the economy, and opens up opportunity for even more debasement of the value of the currency.
September 11, 2018, 04:44:24 AM
If everyone will convert and start using crypto's and the government will be converting fully to crypto's, there will be a lot of regulations worldwide but isn't it amazing that everyone's into crypto's? which we think before is an impossible thing. Cashless society is the future but we are unsure if crypto's will be use or there will be a digital fiat money.
September 11, 2018, 04:32:58 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?
It is difficult for all countries to legalize ceyptocurrency, which can threaten the country's conventional banks, but if the country in the world makes the right regulation cryptocurrency will be able to open unlimited global trade that will affect the world economy
September 11, 2018, 12:30:50 AM
is it possible that we also start converting to cryptocurrency?
Anything is possible. Is it likely? No...it's very far from likely. Countries don't put their wealth in investments that fluctuate so frequently. And people won't use a "currency" that isn't boringly stable in value.
If that happens, what do you think are the advantages and disadvantages?
Advantages: Faster payment processing - minutes instead of days. Cheaper transactions. More control in the hands of the people, rather than the banks.
Disadvantages: Those in power will seek to corrupt the cryptocurrency system. This in power are afraid to give more control to the people or a system that delivers true equality.
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?
Paying virtually doesn't equal paying with cryptocurrency. You are paying virtually when you use a debit card, or when you use PayPal. Disadvantages are that if your mobile wallet i on your phone and you lose your phone you lose your mobile wallet. It doesn't have to be petty theft...you're out your money. That's the only real disadvantage...it requires each person to maintain greater involvement of security in their own financial affairs.
September 11, 2018, 12:25:59 AM
If it happens so that all countries converted on crypto then in my view or according to my mind world will be free for everything because everyone will do what they want easily things will become more simpler than before and people will enjoy tax heaven .. it will be very attractive if this happens.
September 11, 2018, 12:15:38 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 10, 2018, 11:39:35 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.
that would be really amazing if could happen.but i think it just our imagination and could not happen in near future.moreover many government still confuse with bitcon regulation. September 10, 2018, 11:29:48 PM
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
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.
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?
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