Can it be possible for the whole wide world use a single currency? - page 8.

jcarlo

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Quote from: BartS on May 08, 2018, 09:59:17 AM

Quote from: masterchief001 on May 06, 2018, 09:14:04 AM

I think that if everyone in the world uses the same currency they are very good. But this is unlikely. Because a country will have its own currency, value and symbol for each country. The culture of each country is different to create its own identity. Currency too.

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.

Beside that, central bank every country must be wont agree with single currency. Central banks must be do not want to loss control on money supply and they will not approve regulation on single currency

TiffanyLien23

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Well i dont think so. Coz if you pay for some service with fiat money, and somebody deceive you, you can complain to the authorities and you will receive your refund eventually. With bitcoin, you can't find out real owner of btc wallet and can't complain to the authorities and request refund. Because of it, banks or financial institutions will never accept bitcoin for their business.

Ryanpogi

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maybe that happens, but not yet. The difference is that the bitcoin is possible for all the currency the hardest people will be able to adjust. thanks ..

Arkyo

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Fortunately, this prospect is totally unrealistic. There is a huge variety of currencies in everyday life and in the crypto currencies world. And this feature allows investors to make good money by combining different coins in their portfolios.

klasik1980

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A single currency must be accompanied by many other measures for integration and harmonization. It would require a strong and effective world monetary authority or central bank, working in the common interest and freed from political manipulation, to manage the world currency, regulate the money supply, and ensure adequate liquidity without inflation.

Tukang Becak

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Quote from: almaerk08 on May 09, 2018, 10:09:41 PM

Quote from: BagzMM on May 09, 2018, 10:05:30 PM

Quote from: mackenzie5 on May 09, 2018, 10:16:51 AM

Bitcoin can be useful as a common currency world wide mean time it will be essential to maintain the local currency as well to maintain the economic balance of each country.For the concept of a single currency world wide means it will be a time consuming one to come up to that standard for the global community.All countries in the world are not maintaining the same living standard and the education systems it will be impossible to handle the single currency system though the bitcoin is the most powerful currency in the world.

Yeah I see this idea of having a single currency whole world will not make in a reality as what have you said we have in different economic situation and have different set of standard cost of living. The economic style of Asian country is not same from the European country. Also the leaders of every country will not support on this plan as they can't control their economic rating.

Yes, I agree with you. Having a single currency around the world will never work for all of us. The economic situations of each countries are different, so it would be very difficult for us and for the government to accept this idea.

Yes true, besides the economic problems of all different countries of course if using a single currency then it would be easy for a strong country to control a poor country like in asia or africa, I do not agree the world uses a single currency because it makes the world become unstable.

almaerk08

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Quote from: BagzMM on May 09, 2018, 10:05:30 PM

Quote from: mackenzie5 on May 09, 2018, 10:16:51 AM

Bitcoin can be useful as a common currency world wide mean time it will be essential to maintain the local currency as well to maintain the economic balance of each country.For the concept of a single currency world wide means it will be a time consuming one to come up to that standard for the global community.All countries in the world are not maintaining the same living standard and the education systems it will be impossible to handle the single currency system though the bitcoin is the most powerful currency in the world.

Yeah I see this idea of having a single currency whole world will not make in a reality as what have you said we have in different economic situation and have different set of standard cost of living. The economic style of Asian country is not same from the European country. Also the leaders of every country will not support on this plan as they can't control their economic rating.

Yes, I agree with you. Having a single currency around the world will never work for all of us. The economic situations of each countries are different, so it would be very difficult for us and for the government to accept this idea.

BagzMM

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Quote from: mackenzie5 on May 09, 2018, 10:16:51 AM

Bitcoin can be useful as a common currency world wide mean time it will be essential to maintain the local currency as well to maintain the economic balance of each country.For the concept of a single currency world wide means it will be a time consuming one to come up to that standard for the global community.All countries in the world are not maintaining the same living standard and the education systems it will be impossible to handle the single currency system though the bitcoin is the most powerful currency in the world.

Yeah I see this idea of having a single currency whole world will not make in a reality as what have you said we have in different economic situation and have different set of standard cost of living. The economic style of Asian country is not same from the European country. Also the leaders of every country will not support on this plan as they can't control their economic rating.

Faxmate

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Quote from: Risktaker31 on May 09, 2018, 09:53:42 AM

Quote from: Zhagedu on April 28, 2018, 07:37:33 AM

I think that Bitcoin can be use as a matter of fact to be globally accepted. What is your take and which currency can you suggest to be accepted globally?

There won't be a single currency around the world where anyone can use it. Because fiat money are sometimes known to be legacy of the different country and sometimes it is the national treasure or identity of their country.

Yeah fiat has been very common for sure but it was an old age currency mate if we look at the time now we are in modern age where people prefer using digital currency instead of fiat money, now everyone is busy they hardly find time to pay for fees and to pay for bills so bitcoin gives them relaxation and it is very easy way to pay for goods what they need in life, I think it is very possible to see bitcoin at top than fiat currency.

Mazand

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It may be one main, most stable, trustful and popular. Like dollar on the fiat field. But like situation fiat there will be always a place for some local and specific cryptocurrencies. Even if they will be less stable, not so widely spread and less comfortable to use becaouse of this.

3la9l_kolbaCa

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Quote from: Zhagedu on April 28, 2018, 07:37:33 AM

I think that Bitcoin can be use as a matter of fact to be globally accepted. What is your take and which currency can you suggest to be accepted globally?

Yes that would be possible to happen and for sure it is a single way transaction in different way. As of these days we use fiat but many people use bitcoin for any transaction will do. It could be an online buying, paying bills, home credit and others. It is very acceptable at this moment and in the pass years because it uses in different areas. All I know bitcoin is the most and commonly use globally.

ene1980

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Quote from: kokorotomoto on May 09, 2018, 01:29:22 PM

I think it is impossible, if the whole world uses a single currency. I think many countries are experiencing economic crisis.

It is not that impossible for bitcoin to be the single currency traded around the globe, here most of them think that you need to replace the fiat currency, that is not possible but anyone can trade bitcoin throughout the globe and it will be the currency being traded worldwide in a few years.

kokorotomoto

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I think it is impossible, if the whole world uses a single currency. I think many countries are experiencing economic crisis.

Rustamm

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Bitcoin lover!

Quote from: Zhagedu on April 28, 2018, 07:37:33 AM

I think that Bitcoin can be use as a matter of fact to be globally accepted. What is your take and which currency can you suggest to be accepted globally?

I do not think that bitcoin can be used as a single currency under interstate trade agreements. The reason for this is the same high volatility of bitcoins. International agreements are concluded well in advance and before practical implementation takes some time, sometimes even very significant. If during this time bitcoin will rise very strongly in price or vice versa, it will fall much, one of the parties will suffer big losses. Will these countries be able to play roulette with bitcoin for a long time? And why do they need it?

Dudeperfect

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Bitcoin is already a global currency but when it comes to the using single currency, I don't think that any cryptocurrency suitable for that job as of now because we don't have high literacy level on a global scale when it comes to the technology and thus most of the people would not be able to use any digital currency. On the other hand, there will be people always prefer using fake currency is it that you are the advantages of cryptocurrencies. Thus, it is not the right time at the right time to think about implementing single currency system.

Tomborneque_1102

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well, if we are looking forward to seeing Bitcoin as the main currency in the whole world, then all the people must have an Internet Connection in their Houses. and all of the transactions will be done electronically. that means we must require even the homeless ones to use Bitcoin as Currency. Not unless Bitcoin will become physical money and can be used by anyone.

wireless1889

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Quote from: Zhagedu on April 28, 2018, 07:37:33 AM

I think that Bitcoin can be use as a matter of fact to be globally accepted. What is your take and which currency can you suggest to be accepted globally?

Nothing is impossible and it is applicable to this idea. Since we are diversed by continents and countries and etc. We have our own cultures beliefs and everything including currency. Maybe in the near future governments will legalize bitcoin for the greater good of all and for the innovation to currency they will make it as a universal currency for all to use since it is known throughout the world it is possible for this to happen.

supine

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Quote from: Zhagedu on April 28, 2018, 07:37:33 AM

I think that Bitcoin can be use as a matter of fact to be globally accepted. What is your take and which currency can you suggest to be accepted globally?

I believe that it is possible because we all know that our technology these days is already advanced. I think it would really just take time for us to have a single currency because there are still lots of things to consider. Educating people about crypto matters as well specially nowadays that people are into digital currency but there are also people around us who don't have any idea about it.

umar22pk

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Till now all countries want to use their own currencies and it’s difficult they agree on one currency.
But it can possible in near future they all together on crypto platform, and if it happen than bitcoin & ethereum will make a big contribution.

TonyFat

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I do not think that this is possible, people in different countries have different thoughts and different goals, one currency is not profitable for them

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