Post
Topic
Board Economics
Re: What will happen if the all countries convert to cryptocurrency?
by
sunflower_11438
on 12/09/2018, 12:26:47 UTC
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?


advantage:
#it won't be easy for someone who is bad to make counterfeit money
#we can bring almost all our wealth everywhere without worrying as long as we make some back up data

disadvantage:
#because the blockchain can only advance and cannot back down then we must be very careful in making transactions if done manually