Quote from: Oceat on September 12, 2018, 11:00:38 PM

Quote from: Titus Maximus on September 12, 2018, 12:51:05 AM

Quote from: Oceat on September 11, 2018, 07:12:21 PM

Quote from: Sherwood_Archer on September 11, 2018, 12:06:40 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 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.

Well, at least some major countries will start it, mainly in Japan i guess because they were just the countries that i know that loved so much of the technology. Hence, making a new technology is not that hard for them because they were too far advanced than the rest or it could be the US also.
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.

You don`t think that major countries can suffer from big financial crisis, but some of the big countries will fall first. Did you hear about expression higher you are, bigger drop it is. Japan already began this transition with legalizing bitcoins and some other altcoins, I believe those countries that start sooner with transition to crypto will suffer less from financial crisis that will come, and they will come. History is full with big crisis, we already know that many countries are on the edge and they will pull down others with them, its domino effect.