Topic: Is there any chance of having one global currency? - page 14. (Read 2199 times)

No, I dont think it is necessary because we already have a system of fiat which is fool proof and thus we can use it seamlessly. With the rising demands of faster transactions fiat currencies are even more in demand than before now and I dont think that there is anyway crypto currencies will be able to fulfil that need ever. They are already outnumbered in their circulation, their work environment is entirely different and thus they are more or less misfit for now. I am not talking fully negative about it but I am just telling the reality of current situation. They might just remain as asset in the future too.

It can be bitcoin because no one is concentrating on other coins. I think bitcoin will rules the world and become the global currencies.

Maybe this will happen, but it takes a very long time to come true. The economy of the countries is not the same, it is difficult to use the same currency.

I think the crypto currwncy itself will be the one global currency. It will have because it was prophesied and it will have in case not the crypto though. But i believe so.

I think that we will not come to a single currency for a very long time. Each more or less strong state will not want to switch to the use of another's currency. While in us, almost all national money is tightly tied to the economy of these states. These are the laws of economics. It is possible to come to an agreement between the states on the use of a single currency in international settlements, but the state can not fully switch to the use of a single currency.

You can probably get someone anywhere in the world to take dollars with a bit of persuasion. There's a huge difference between that and all governments and economies running on one currency.

The closest equivalent to that is the Euro and as has been ably demonstrated, what causes one country to prosper ruins another.

Until we get rid of individual countries then there's no way one currency will be healthy for all of them.

In order for the world to switch to the use of a single currency, it is necessary that there be no economic and political wars in the world, I'm not talking about purely military conflicts. Only when the economies of the countries begin to converge, then the transition to the use of a single currency will be possible. Only then is it unlikely that such a currency will be a crypto currency. Can you imagine how much our society should be technocratic in order to completely switch to using crypto currency? But then the use of crypto currency will be completely controlled by the world government. You then will not be able to make any purchases in the crypto currency, so that the government is not aware of this.
 In the meantime, in our lives for a long time there will be situations when paper money will be simply necessary.

I hope that there will be a global currency that is a typical digital currency such as bitcoin that can be used to trade for the world at the lowest transaction fee.

I think there is no chance of having one global currency because every country is different, have a different cultures. If there will be one global currency, then I think some country will progress and some will go down.

Definitely yes, High technology will bring us to higher level in terms of processing so doubt after several years when wake up in the morning all level of payment must do in one direction which is crypto currency process and I know that according to the trend now Bitcoin is a number one leading crypto so no doubt guys. start from the global unity of the people followed by crypto currency.

I see the opportunity and chance for crypto currency become a global world currency is huge. Because the improvment of the crypto currency since it was created is so significant. Now it is already use by many people around the world. It has better for future.

I don't think we can have one global currency even it's digital or fiat. Because they use it for trading in different aspects. Fiat on converting to fiat is use to earn money like also to digital currency.  And the government of each country will not agree on that and never approve to we have one currency for the whole world.

The possibility of having a single global currency is very small, even it is very impossible having a single currency around the world. The fact that all countries over the world compete to make the own currency stronger than other, they take and make a particular policy about it to make it.

Crypto currency will not be a global currency but it will be an alternative currency for all countries around the world that can unite all currency.

I do not think so, the world is way to divided or complex to have a simple solution to a global problem, all countries are not in harmony

For many decades, the plan to monopolize the dollar in all developing countries-implemented. Now the dollar is trying to influence the economies of countries, thanks to the loans issued by the MVF (IMF), in times of difficult moments of development of these countries.
Now the dollar is a global currency, which may be overthrown by bitcoin in 5-10 years. But until that time, we will see the growth of many other national currencies. For example, The Russian ruble, Chinese yuan, Japanese yen. These are countries whose economies have been developing very strongly over the past 10 years.

I believe want most bitcoin proponents want is for it to become one global currency. I also think this is possible.

Lets see here.  We have central banks in almost every country.  The only countries left with no central bank are Syria, North Korea and Iran.  HMMMM  They are all being attacked right now. 

We have a brand new technology created by a mystery man that no one knows who it is.  This technology also tracks every transaction made which will make taxing every transaction a breeze. 

Not saying Bitcoin is a trap but we need to keep our eyes open and be aware. 

Generally dollar is the world currency which is used for savings, payments and so on. Any other currencies are bound with dollar much more stronger than with national economies. Moreover as far as I know all the central banks in the world are implicitly subordinated to FED therefore we can consider that dollar is the base world currency. I consider that now there are no objective reasons to change something so I am sure that we will not see any changes in the near future and you can consider that there are the global currency I mean dollar.

Yes there’s a possibilities about this thing and maybe it will be Bitcoin, because it cannot be controlled by any goverment. But we need more time for this one, adoption should happen first around the world and its not easy to be done. There’s a lot of circumstances that needs to be address with bitcoin, hopefully governments will do their best about to regulate bitcoin and have a common rules on this.

Of course. It could already be a possibility right now given enough adoption into the bitcoin network. There's already the means to do it in the form of bitcoin, all that is required is an increase in adoption worldwide to the point where bitcoin can be used worldwide without having to exchange any currency.

Obviously, that would be a pretty utopian view by our standards and probably won't happen any time soon.

More likely than not I think that if there was to be a global currency, which is a likely possibility in the future at some stage, it will still be issued by some sort of central entity, potentially a world central bank of some sort.

The other more realistic possibility is that bitcoin will not replace fiat currencies outright around the world, but rather be a globally accepted alternative to fiat. It's still a global currency, and it holds value wherever you go without having to exchange forex. But I don't think that in that bitcoin as a parallel global currency scenario you can say that it's the "single" global currency around the world.

But hey, anything could happen. Bitcoin could become the dominant currency for international business over the internet, as some sort of niche. We don't know at this point other than the fact that BTC is capable of being just that.