Topic: Can it be possible for the whole wide world use a single currency? - page 10. (Read 1239 times)

The benefit is not even something we should be thinking about when the impossibility is more. Moreover, I really do not see how one system of governance is going to benefit anyone, as this is what it exactly implies in case we are not seeing that picture.

Secondly, I do not believe any government will even want to make that decision of picking bitcoin over their currency unless things have really gone so awry with their economy and this can only be done by accepting it alongside the fiat, and not imposing it as a single currency before we even start referring to the whole world.

Digital currency has emerged immensely, and is becoming more popular and recognized systematically. But the existence of fiat currency is still largely accepted compared to cryptocurrency, it has been in the global market for centuries. It is also the easiest form of exchange and trading all over the world, has legal tender and is backed up by the government. It's hard to conclude yet if single currency will be widely adapted because not all people are tech savvy, and also countries and establishments have its own jurisdiction and restrictions. Honestly, for whatever reason it's hard to foresee and its never easy, but if it will be totally regulated and legalized in the whole wide world it would take some more time. But I think cryptocurrency can still operate while fiat is also functioning on its own.

It is possible but very unlikely to happen given the circumstances currently. If the world would adapt and implement a single currency to be utilized, underdeveloped countries would suffer the most- making the rich richer and the poor, poorer. Hyperinflation would occur into different underdeveloped countries and they are subject to the abuse and manipulation of prices.
Though it may be unlikely, I still consider the possibility of having one standard of payment in the future. Maybe once countries are able to adapt change technologically and economically, then we might see the blockchain technology behind the platform.

Well, OP, that's what we kind of have now. Everyone's using bitcoin (apart from other alt-coins), so I'd say that it's being used globally.

But, if you mean that one and only one crypto will be used, then the answer is no. Creating your own crypto is easy nowdays and everyone can do it. Also, countries are developing their own.

The way I see it playing out is:

- all countries will have their own crypto, backed by fiat
- various cryptos will be used in various businesses they're designed for. One coin for one business.
- they'll probably become something of a token. Something like what steam has, but you'd be buying crypto instead of dealing with fiat on their platform



p.s. also what you're referring to is somewhat close to NWO

That's not possible to be using one currency in the whole world.

The world currently works on having lots of seperate 'floating' currencies. Because they 'float', their value changes relative to each other; for example one US Dollar buys 1.03 Canadian dollars buys 0.62 British Pound buys 0.73.

Now each country or each currency has a central bank, who can do certain things to make their currency worth more or less, depending on the needs of the day. For example, it might be really good for China to keep the value of the Yuan quite low so that Americans can buy Chinese exports for cheap and Chinese companies can make a lot of money. Countries that have to import a lot might prefer a higher valued currency and so on.

The problem is that each country has different things happening in it's economy. The Germans are very focused on exporting things like cars, which is fine, because they get money for their cars. But Greece isn't exporting much stuff at all, and in the mean time, each Euro isn't worth as much and the cost of things in the country tends to rise as a result. This is fine if you're getting more money because you work in Germany making cars and you're selling more and this year you got a bonus, but it's not so good if you're in Greece.

This is an economy that's doing two or more different things in different places and you end up with a weird situation where people in one area arent earning very much, but still have to pay the same prices as the people in the rich area.

This is a pretty simplified way of explaining it but tl;dr: Poor People would have to pay rich people prices for shit.

It’s actually very possible for that to happen in the real world but it’s going to take a lot of time and compromise for that to happen in the real world because it’s going to be hard for governments to do away with their national currency which makes it hard for them to just abandon it.

There will be many crypto currencies that will be accepted globally, but I am in doubt if Bitcoin will be one of them.

Agreed.I do not think that there will come a time that the whole universe is going to use a single currency.We have our own currencies that are centralized in nature.And since bitcoin is a decentralized one,the government cannot monitor and control it which will make it very hard and difficult to make as an official currency.

Using a single currency for the whole world will be a huge mistake, you must understand that economy of each country is different and each one of them needs their own currency so they have more flexibility to manage their economies, while I have huge faith in bitcoin I do not think we're going to see bitcoin being adopted as the official currency of any country, because bitcoin will be too restrictive to the economy of that country and they will be unable to manage their economy effectively, which means that even if cryptocurrencies will be adopted by a significant portion of the population we cannot hope to achieve that everyone adopt it.

A lot of people may adopt bitcoin usage as their preferred currency of use, but believing it would serve as a single currency in the whole world is just one absurd way of thinking. Who governs it, where is the central policy going to be from ?

I guess some of us have forgotten what it means for some countries to be independent and unless each country wants to come up with their own policies for usage as a currency in the country, I don't see how it is going to be that easy and which we both know it is not possible to even have that as no government will pick decentralization over centralization.

The governments might not agree on a single currency if it is decentralized one because they effectjvely control it and it may harm them financially and economically because of its uncontrollable volatility. These governments might instead create a unified world currency that can be adopted by all parties and this one might be centralized like ripple.

Country leaders can't agree in most things and currency will be one of them. I don't think USA would agree to use yen as global currency as well as european countries.

Bitcoin for now will only be an alternate currency and it will take a while before countries even try to accept it.

Maybe this is a great idea.
But it is not possible for bitcoins to become a global currency.
Because there are some countries currently banned bitcoin
But maybe in the future it will come true
I hope that, It is very convenient for payment in business, life ...

Every country wants to be independent and the own currency is one of such elements. So, we can see how strong is a country regarding others by looking at its currency.

Moreover, world’s experience on creating a unified currency is not very bright. Euro has been created, but there are still national currencies in use.

The world will never use the single currency. Unless the world is united, there will never be a single currency.

Because countries need to develop and use either side of the currency will do more harm than good.

The growth is not the problem but by being Anonymous and fully decentralized of bitcoin which is very hard to implement a law regarding regulating the used of bitcoin and also on how to charge taxes. The US just charge taxes on crypto that being held on exchange but if atomic swap is implemented. Then there will be no exchange needed and it's​ impossible to cut taxes.

Indeed, I think every country do not want to replace their currency with bitcoin and every country have different internet infrastructure. Every government have their economy advantages and different economic growth.

I think if the world is gonna have a single and common currency, it would benifit all, but trading currencies wouldnt be possible then, but I think if the world is gonna have one, then cryptocurrency is gonna be their choice and the most commonly known cryptocurrency is bitcoin, I think it would be better if we will have different currencies for us to be able to trade and earn big.

It is possible if government will also allow it to happen in their country since not all of the countries do really like bitcoins because of its growth that cannot be easily controlled.