Topic: Can it be possible for the whole wide world use a single currency? - page 9. (Read 1239 times)
May 09, 2018, 11:25:13 AM
Every country must have uniqueness and problems in transactions, if the world uses a single currency then this is not fair for a third country because that regulate and control the money of course is a strong country so I do not agree to the world using a single currency.
May 09, 2018, 11:23:07 AM
It is not possible to use a single currency in the whole world, even if it will be possible it will be bitcoin and it will have to under go so many development because bitcoin is for educated and smart people
May 09, 2018, 11:16:51 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.
May 09, 2018, 11:14:40 AM
I don't think it's realistic idea.
For something like this we will need one world government, one central bank and one country.
Currency is an important part of every national sovereignty and also average people like idea to have own country, nationality, currency etc.
This is not an idea for our age.
For something like this we will need one world government, one central bank and one country.
Currency is an important part of every national sovereignty and also average people like idea to have own country, nationality, currency etc.
This is not an idea for our age.
May 09, 2018, 11:04:30 AM
I see this space ending more like stocks in the long run.
That's the most likely scenario, but the thing with Bitcoin is that we don't depend on just one aspect, and that alone makes Bitcoin a very powerful tool. In the end, with how professional parties will take over this market and the stability they bring, it will incentivize people to actually start using it as currency, and that's something people here don't yet think about.
The only thing we see people say is that Bitcoin is slow, expensive, volatile, etc.
All these aspects are part of an emerging market that yet has to make a complete transition. We can't expect a market filled with idiots and get rich quick noobs to become stable. Professional parties, which happen to be mostly conservative, will take over the major part of this market eventually. If you add that exchanges will be subject to very strict regulations, similar to what rules stock markets are subject to, extreme volatility will no longer exist.
- Bitcoin's investment aspect will flourish, although it being in a much slower pace later on.
- Bitcoin's store of value aspect will flourish.
- Bitcoin's currency aspect will flourish.
- Bitcoin's use as high value transaction tool will flourish.
Small transactions creating high volumes will be dealt with through LN, and the rest of the high value transaction will be dealt with on-chain. Solid.
May 09, 2018, 10:53:42 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.
May 09, 2018, 10:39:08 AM
Quote
Can it be possible for the whole wide world use a single currency?
A heavily centralized currency built around a monopoly?
A number of competing currencies could be preferable.
Bitmain having a monopoly over the ASIC market could have strong parallels to a world forced to utilize a single currency. Likewise microsoft's monopoly over the OS market, google's monopoly over search engines, banks having monopolies over many markets leading to industry wide stagnation and a lack of innovation for spanning decades.
AMD versus intel and coke versus pepsi could be a better abstract for currencies. Competition offering consumers better options and terms, while fueling industry wide progress and innovation. Two or more currencies could achieve this, while one currency could be prone towards a zero incentive atmosphere where there is no effort made to improve as there is no competition from which to draw useful comparisons.
Everyone is dreaming to such a thing, one world,one currency. But the present status is other wise. We are from different country of origin,with its own Governing laws to follow. We are leaving separately, divided by water,by region, by our own belief and different currency. The entry of crypto currency in global market trading as its presented as it is an alternative currency vs FIAT for its global transaction experience a lot of resistance, plus the issues on Banned,Scammer,Regulation whether or not they will allow crypto currency transaction without FIAT. I am looking forward though that the said issues were address and crypto currency transaction will be globally accepted.
May 09, 2018, 10:15:46 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?
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.
You think governments all over the world will want to give up their currency for a decentralized digital currency ?
You better think again, because that is a total level of impossibility. Sure, we may get to see regulation and adoption of cryptocurrency with each country playing its own role the way she best fit, but it would only be in par with the normal currency and I see this space ending more like stocks in the long run.
May 09, 2018, 07:39:35 AM
=\;l
Really appreciate your move here. There is a possibility but it would take decades to have bitcoin as a common currency to be used worldwide. But authorities would not led bitcoin rule over their local currency as local currency has been its major supportive from the day one. Heavy competition is already in place. So lets see.
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?
Really appreciate your move here. There is a possibility but it would take decades to have bitcoin as a common currency to be used worldwide. But authorities would not led bitcoin rule over their local currency as local currency has been its major supportive from the day one. Heavy competition is already in place. So lets see.
May 09, 2018, 03:41:55 AM
I think Bitcoin is already Globally accepted by Other Countries as you can see Asians or American's are using Bitcoin now.
May 09, 2018, 03:38:06 AM
Somewhere in the future, we will all use one currency, yes. The world and free economy always strive towards the simplification, it is only the Governments that complicate things, but in the long run, they are powerless.
Governments should be there only to correct the misses of the free economy (like segregation between rich and poor), however mostly they only induce it.
Same as the European Union having a common currency for usage, in the future there is possibility for a single currency usage around the globe. For the same, majority of the countries need to give approval which is not gonna happen in a short time period because economically grown countries will oppose it. Governments should be there only to correct the misses of the free economy (like segregation between rich and poor), however mostly they only induce it.
May 09, 2018, 03:28:32 AM
Somewhere in the future, we will all use one currency, yes. The world and free economy always strive towards the simplification, it is only the Governments that complicate things, but in the long run, they are powerless.
Governments should be there only to correct the misses of the free economy (like segregation between rich and poor), however mostly they only induce it.
Governments should be there only to correct the misses of the free economy (like segregation between rich and poor), however mostly they only induce it.
May 09, 2018, 03:22:35 AM
Its possible and its probably coming in this century I can help but see visions of all the dystopian films I have seen growing up when thinking about a one world government. Skynet will probably be the leader of this world haha. On a serious not though this is why I really love btc because its a version of cash that would suit this new cashless society
May 09, 2018, 03:03:50 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?
In my own opinion, it was really possible for that to happen in the future but since fiat on different countries does not have the same value of money then there is no doubt that government will not really agree on it.
May 09, 2018, 02:52:06 AM
Since bitcoin is decentralized, it is a world currency and does not belong to any country. Bitcoin is the currency of the people, which unites the whole world.
May 09, 2018, 02:51:40 AM
Bitcoin cannot be and it will not be the world wild single currency that everyone will use in the whole world and will not any single currency that will be accepted world wild in my opinion.
May 09, 2018, 02:47:30 AM
I'm sure bitcoin must be able to dominate the world. all countries will use bitcoin as a legitimate transaction tool. but despite that. the world still will not be separated from paper money. because paper money can be made as a symbol or a sign of the country.
One of Bitcoin's main principles is that there are no borders it has to respect or abide by. It's one protocol that has no equal, and one that at the same time can't be stopped. It's pointless to focus on what paper money will be like by that time, we should only care about what matters for us, and that's slowly taking distance from dealing with fiat. Let countries have their paper money, we have Bitcoin, that's more than enough. In current times it requires only our smartphone to transact with others or buy our daily needs in stores. I could perfectly use Bitcoin as sole currency if it enjoyed more adoption and stability. Fiat is a mixture of state and corporation money, while Bitcoin is people's (everyone's) money.
There would be a day when bitcoins and fiat currency would be against one another in usage. Then their mutual combination can give relief to the mankind.
May 09, 2018, 02:01:31 AM
I think that Bitcoin can be use as a matter of fact to be globally accepted.
Right now it is being used as a payment system and it's already globally accepted. Although there are some countries that prohibited it but the number on how many adopted it is many.What is your take and which currency can you suggest to be accepted globally?
We are in bitcoin forum so it's obvious that I want to see bitcoin accepted globally without any problem. As I've said it's already accepted but it's better if those countries that banned it will remove the sanction.
May 08, 2018, 03:51:21 PM
I'm sure bitcoin must be able to dominate the world. all countries will use bitcoin as a legitimate transaction tool. but despite that. the world still will not be separated from paper money. because paper money can be made as a symbol or a sign of the country.
One of Bitcoin's main principles is that there are no borders it has to respect or abide by. It's one protocol that has no equal, and one that at the same time can't be stopped. It's pointless to focus on what paper money will be like by that time, we should only care about what matters for us, and that's slowly taking distance from dealing with fiat. Let countries have their paper money, we have Bitcoin, that's more than enough. In current times it requires only our smartphone to transact with others or buy our daily needs in stores. I could perfectly use Bitcoin as sole currency if it enjoyed more adoption and stability. Fiat is a mixture of state and corporation money, while Bitcoin is people's (everyone's) money.
There would be a day when bitcoins and fiat currency would be against one another in usage. Then their mutual combination can give relief to the mankind.
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.
May 08, 2018, 03:33:11 PM
Despite the increasingly global nature of trade, the economies of each country around the world continue to differ significantly and require different management. Bringing all countries into one monetary policy could lead to political decisions that would benefit some countries at the expense of others.
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