Is there any chance of having one global currency? - page 9.

Ekimzjames20

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Quote from: cathalary153 on October 22, 2018, 03:38:12 AM

To date, bitcoin has the greatest ability to become a global unit because fiat currency such as dollars like U.S. dollars are not available in all countries. But this hope also needs certain adjustments to be achieved

Yes, there is a big possibility that in the future we're using one global currency. And bitcoin is one of the strongest candidate to be a global currency. But of course we need more time to implement, and developed as well, some place.

cathalary153

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To date, bitcoin has the greatest ability to become a global unit because fiat currency such as dollars like U.S. dollars are not available in all countries. But this hope also needs certain adjustments to be achieved

Bitcotalk

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Quote from: Pattart on October 18, 2018, 07:49:22 PM

Quote from: JMD07 on October 18, 2018, 06:49:43 AM

Quote from: UconBit on September 14, 2018, 05:10:03 AM

Could you see a future wherein the entire world shares one global currency, be it fiat or crypto? If I think it in a scifi kind of way, it would most probably be some digital currency that could all just use. It doesn't even have to be in this century. Maybe the next?

This could be difficult to control when we have different culture and economy every country as the standard is not the same. Policies every country had different and this can bring chaos and misunderstanding in every people. Maybe this could be possible if we have only one leader to decide for the whole world.

of course it will cause chaos, I can't imagine if the world only has 1 currency, how to distribute to many countries, how the economy is described in a country (because there is no local currency), and who will control the circulation of this currency (if only one currency)..

A chaos that will not even be able to resolve. Every country worldwide, unless there is a country that is not independent anyway, sure do have a say for their own country, and for something like a global currency to even be a thing, there must have been a country that would want to impose it on other countries and I wonder how that is going to work out.

Just as we have had in the past with USD being a globally accepted currency and every other country still having their own local currency, I would say it is the only thing we are going to get to see which would be an alternative that is accepted worldwide and nothing else.

spongegar

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I doubt we'll ever have a one currency system in the world. Being that countries would like to have a sense of control into their economics by manipulating their money. We could see a currency that is accepted around the world like USD. but the thought that only a single currency will be used is quite absurd.

Rustamm

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Quote from: UconBit on September 14, 2018, 05:10:03 AM

Could you see a future wherein the entire world shares one global currency, be it fiat or crypto? If I think it in a scifi kind of way, it would most probably be some digital currency that could all just use. It doesn't even have to be in this century. Maybe the next?

With the existence of such a large number of states as now, it is unlikely that all of them will be able to agree on the use of a single currency. This will be possible if the states unite their economies as it is done in the European Union. True, even in this case it will not be a cryptocurrency. It is not able to be a global world currency due to many factors, including due to the high volatility.

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Quote from: S4VV4S on October 21, 2018, 03:15:01 AM

Quote from: BruceJu on October 21, 2018, 02:59:21 AM

It is obviously obvious that only Bitcoin has such a mission at present. It is not possible to circulate it in the future, but the value of coins in circulation is determined by Bitcoin.

I don't think it will happen in the future, makes Bitcoin as a Global currency is difficult to happen, because the more
people there are still who do not know about Bitcoin so it will make them so difficult using Bitcoin as currency.

So sorry to say but I am not agree with your point of view, I think soon bitcoin will be as global currency because people are using it happily more than fiat currency, now banking are supporting it, all over the world bitcoin is applicable, companies are allowing their employs salary in form of bitcoin which is making the economy really good and developed.

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Quote from: dillonplayadoe on September 16, 2018, 05:40:09 PM

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.

If blockchain doesn't have a proof-of-work ledger, do you think we got this far today? Those countries that you are talking are having a government issue and blockchain cannot do anything about it, it is the government's job to change the mind of their leader but i doubt it will happen unless they start to change their system of the government.

Dasha88fed

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In my opinion, this scenario looks unrealistic. Most likely in the future there will be more coins than they do now and they will all be used by people and exchange with each other. There are many coins that deserve to be the only coin, but there are differences between them and they have their own strong communities that develop their own coin and are not ready to give it up in favor of some other one. This is the main problem for which will never be the only one coin.

jonaire99

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Quote from: UconBit on September 14, 2018, 05:10:03 AM

Could you see a future wherein the entire world shares one global currency, be it fiat or crypto? If I think it in a scifi kind of way, it would most probably be some digital currency that could all just use. It doesn't even have to be in this century. Maybe the next?

The possibility of a unified global currency will still depend on the governments because they are the ones who can make it happen. The nations who controls the entire world can always influence the other countries to adopt bitcoin as one of their legal currency to speed the integration into one currency. But its implementations might face a big problems in the future because of different political beliefs and laws existing in each country.

niteroy

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I believe that this will not happen, at least in the next hundred years for sure. Due to the fact that there are many different countries, nationalities, cultures, attitudes, worldviews on the Planet, it is very difficult and almost impossible to achieve consistency at the state level. For example, you can look at world currencies, each country has its own currency and attempts to introduce a single currency did not succeed. For example, the dollar coexists on par with other currencies and can be considered an international currency, but it has not supplanted or replaced other currencies. Perhaps in the future Bitcoin will also coexist with other cryptocurrencies, this scenario looks real.

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Quote from: UconBit on September 14, 2018, 05:10:03 AM

Could you see a future wherein the entire world shares one global currency, be it fiat or crypto? If I think it in a scifi kind of way, it would most probably be some digital currency that could all just use. It doesn't even have to be in this century. Maybe the next?

It is not possibly i think. There are different type of countries in the world some are developed ,some are developing some are poor .So they have different type of economical situation and different tactics of service. So that actually its never been possible to be a currency for whole over the world,.

S4VV4S

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Quote from: BruceJu on October 21, 2018, 02:59:21 AM

It is obviously obvious that only Bitcoin has such a mission at present. It is not possible to circulate it in the future, but the value of coins in circulation is determined by Bitcoin.

I don't think it will happen in the future, makes Bitcoin as a Global currency is difficult to happen, because the more
people there are still who do not know about Bitcoin so it will make them so difficult using Bitcoin as currency.

margaret22

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In Europe there is Euro, which is a currency existing in many countries, with different level of economy. We have seen in Greece for example, that it can cause a big problem, if governments have no influence to the currency. So as long as there are so hugh differences between countries in salaries, standard of living,... I do not think it is possible, to have just one global currency.

BruceJu

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It is obviously obvious that only Bitcoin has such a mission at present. It is not possible to circulate it in the future, but the value of coins in circulation is determined by Bitcoin.

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Quote from: flying_bit on October 18, 2018, 07:17:42 PM

Quote from: UconBit on September 14, 2018, 05:10:03 AM

Could you see a future wherein the entire world shares one global currency, be it fiat or crypto? If I think it in a scifi kind of way, it would most probably be some digital currency that could all just use. It doesn't even have to be in this century. Maybe the next?

Isn't USD shared and used globally? I think that's how things work, coexist not phaseout everything. I don't believe even next century or next generation that world will have only one currency coz that would mean world domination and supremacy of whatever countries currency maybe. Perfect example of what I'm saying is with Euro, it's supposed to be use by all European country but GB refuse not to use English Pound (for many reason) that cause Brexit. So there's really no way there will only be one currency like it's impossible to speak just one language or believe in one ideology.

If it is about usage, even bitcoin as it is now is already being used globally as long as it is not only limited to one country alone. I am sure what the OP is trying to point out is having a single unified currency that everyone in the whole world is making use of without an alternative. That is one thing I believe it would be hard to come by as far as I am concerned.

Just like you said in the last sentence, when we do not even speak the same language globally, a lot of countries are independent of each other and can make their own decisions, I wonder how that would really work out to come together to have something in common such as a unified currency.

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Quote from: normanz on October 20, 2018, 12:54:39 PM

I think there are opportunities for cryptocurrency to become global currency, but for this to happen it will definitely require a long process. Today many deny it, but with crypto that is increasingly advanced and increasingly popular, to become a global currency, it will be able to happen.

Global currency? I think that does not happen, bitcoin is not a currency to use like a fiat. Bitcoin may be used in trading and investment to keep as an asset, as of now I didn't see this coin is to become currency like a fiat. They're having a different thing when you compared bitcoin into fiat, so, don't expect if that really happens.

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Quote from: iMark on October 12, 2018, 11:01:15 PM

Quote from: BagzMM on October 12, 2018, 10:27:26 PM

In my opinion, i don't think there would be one global currency it is because each countries has it's own government policies and laws.

You right, that's a simple but precise reason. it is impossible for the whole world to have only one currency whereas every country has
its own government and rules based on their ideology and the state of their society, unless the whole world has only 1 government, but ts not gonna happen

First of all, one day of money trading is worth trillions in Forex and having a single currency will end this trade. Besides as you said, the law of the governments. For this, the entire world must unite and become the only country. Human greed can be one of the reasons that cause it. Because, Bitcoin was the only one in the market and the feeling of earning created thousands of tokens in people. However, Bitcoin could be one.

normanz

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I think there are opportunities for cryptocurrency to become global currency, but for this to happen it will definitely require a long process. Today many deny it, but with crypto that is increasingly advanced and increasingly popular, to become a global currency, it will be able to happen.

iMark

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Quote from: Golftech on October 12, 2018, 11:18:53 PM

Quote from: iMark on October 12, 2018, 11:01:15 PM

Quote from: BagzMM on October 12, 2018, 10:27:26 PM

In my opinion, i don't think there would be one global currency it is because each countries has it's own government policies and laws.

You right, that's a simple but precise reason. it is impossible for the whole world to have only one currency whereas every country has
its own government and rules based on their ideology and the state of their society, unless the whole world has only 1 government, but ts not gonna happen

No one would accept that, government wants to rule its own society and it is really impossible to have one goals, politics and greedy people will always look for their benefits and it will affect many things including currency and economics, as per now, having one global currency is just a dream and still
far from reality.

Of course, there are a lot of economic dramas in the world to make every economy in their country improve, look at how the USA government is carrying out trade wars with Turkey and China, it is a form of government policy that wants to make their local currencies have a high exchange rate, so it's not gonna happen the world will only have 1 currency

taliwang

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I don't think it will be possible, there will certainly be many global currencies created because there will be a lot of economic developments that may in the future use digital currencies and will use both digital currencies and fiat currencies for global currencies.

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