Quote from: panganib999 on October 25, 2019, 06:48:52 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?

This would be great, cashless transactions will bring so much convenience for everyone, especially for those who are technologically inclined and advance institutions who can follow the fast-paced technological innovation and avoid physical contacted crimes and even lower cyber theft for cryptocurrency especially bitcoin are backed with blockchain which has a superior security, but the downsides are, not everyone in the world has the capability to use crypto and are not technologically inclined. There are countries that are still developing and this might be a bad idea considering their financial situation.

Apart from developing states, it will not be wrong to assume that the developed states will be soon seen legalizing crypto currencies altogether or at least bitcoin would be there for everyone. Of course even in developed states, not everyone is educated and able to use technologies easily. We need to look for majority. Even in developing states there are a good percentage of technology geeks so they will also adopt it soon.