Topic: One nation one currency... - page 2. (Read 957 times)

Humans are inherently greedy by nature. Acting within one's self interest is how humans were able to evolutionarily survive and become the dominant species on the planet over some hundreds of thousands of years. There can't be one nation, there are too many culturally divergent societies with different value systems. For that reason, there would not be a single currency either but for a decentralized currency system like Bitcoin. Bitcoin could take the place of USD as the world's reserve currency because it acts independently of politics and culture and I anticipate that process happening over the next decades as countries act negligently with their own currencies.

I would say, humans could get a lot done if they put down the weapons of war and worked together to innovate for the betterment of mankind,. Unfortunately that's rather a fanciful hope.

The fact that each country has its own legal currency, its own rules and policies, so its really hard for all the countries to end up having a single currency, especially if its bitcoin since majority of the government are against in it. Though its quite possible for a single country to adopt bitcoin as a legal tender like El Salvador, but you can't expect for other countries to have the same views and perceptions too like El Salvador sees bitcoin.

So there's a metaverse game that's on one of the longest Bitcointalk.org forum altcoin creators and he created an interstellar game where each planet has a nation and that nation has a currency that either he created on a blockchain and moved off to Open-Transactions contracts then to STELLAR and Horizon (yes the NXT clone with HZ currency) as assets/tokens representing each of the nations blockchain born currencies. You'll find some you recognize and some if you weren't around in 2011 that you gotta do a little historical research on. But I was thinking about this meta game and its last 11.5 years. It even existed before Bitcoin blockchain currencies. Why DO we allow ourselves to have more than one national currency these days? That is fiat issued debt money by central banks? In the end its all about closed circuit systems, CB to Bank, Bank to CB. Customers withdrawing cash merely get IOUs from the Central Bank (in our case "Federal Reserve Notes" accepted everywhere by mandate and false trust in a system that burned us all at least once in our adult livelihood - as a millennial the 2008-today period has been a real kick in the sack.

I think the game teaches a lot though. Even though each nation or "civilisation" of planets has their own national blockchain currencies (7 were private made from early 2010 bitcoin client modifications to the conf file/testnets and the rest were publicly released outside this game here on this forum) - the treasuries work that every currency and every share of the corps within these planets in this game back each currency in the treasuries system. So everything that backs one particular coin in the treasury has a value for each coin per unit. To get the price per coin you take the treasuries value back each coin and divide it by the amount of blockchain coins minted per that unit. To do this he runs a script over and over looped until every value backing every chose coin in the system works in all directions. It's some pretty advanced computational cycled math. If there was a worldwide treasury backing a total of under say, 42 national currencies and it worked like that, that would make sense to me and also encourage everyone with a national currency to be as responsible and honest with its issuance/rates. In that system the only one who screws up their currency with everyone else backing it is the issuer imo.

Here's a bitcointalk post by 'markm' explaining the treasuries system from recently in early 2022:

https://bitcointalksearch.org/topic/m.59411967


To me the game really is a big simulation on what a one world treasury might bring about in the end...

More info on the metaverse/metagame Galactic Milieu (economics): https://www.devtome.com/galactic_milieu

Here's a calculator with every treasuries currency from the game that can help you get values for any coin against another one of our Devcoin developers did to speed up rates based on the last time the currencies script was run (markm runs maybe 1-2 times a month based on his game): https://latestrates.traxo.me/?from=DVC&to=USD

Here's the best update he's given in 2022 as well with ELI5 type talk and how the in-game economics really do cross over to the real world since blockchain has made real money from what began as valueless or game currencies (remember Bitcoin was bootstrapped in a big way by VirWoX + Second Life. A writer who covered it in 2013 during Bitcoin's bull run mentioned he had L$ from simply logging into Second Life daily from an early time in the 2000's and used that money to buy a good amount of Bitcoin (BTC) off VirWoX!

2022 Update (Freeciv, Galactic Milieu treasuries): http://forum.freeciv.org/f/viewtopic.php?f=16&t=92170&p=104907#p104907

Sometimes the best way to create a working system in the real world is to test it with the world of real people connected to the internet inside of a simulation/game...

if in this world there is only one nation, of course this can be bad, because with the existence of various nations this occurs due to differences in views by the leaders of each nation, and that is where the main attraction is, so that we can respect and need each other, because Every nation has its own advantages. and with the current situation it is still difficult to use a currency that can be accepted anywhere. therefore we will not know what will happen in the future, about the changes in the times that will occur

One nation one currency is something that makes it easy for the country to be able to control the value of money, if it is in circulation and there are many currencies, of course it will make things unexpected, and of course will make the use of legal currency abandoned.

Currency cannot be unified because it lies within the borders of each country's interests.  Previously, the "Bretton Woods" meeting had suggested that the dollar should be linked to gold, the currency for the rest of the countries to be linked to the dollar, in which the United States plays a leading role and this leads to profits great benefit and it has been overused to increase the dominant interest of "money".  This is one of the reasons, to unify currencies to a common standard, there is no need for any leader or middleman – yes, bitcoin can.

USD is very popular and one of the strongest currencies in the world. Even if it can be said that USD is one of the global currencies, it cannot be the only currency of the world. The power of one currency is determined by the weakness of another currency. So, there can't be one global currency.
If there is one global currency and inflation hits the currency, the whole world will suffer.
If bitcoin becomes the only world currency and during crash the world will bleed also.

This is like a fantasy novel where things are as simple as you saying.
But we live in a real world with 8 billion peoples with different races and different cultures to follow. To engage with that many peoples, it not possible for a single nation to hold same type of rules as the whole world geographically not the same then how can peoples living in it could be same.
With this in mind we only can think of a  common goal to follow where each and every human beings toward a better living place for coming generations and for those who are still living here.
 

We can actually consider USD as global currency since as we see this one used by many country especially when they are dealing some product overseas or even online. Also bitcoin can be consider as that also but unfortunately majority of the country is not supporting it and most of them prefer fiat over digital currency this is why it will take time before bitcoin will be recognize as a global currency.

I hope there is 1 or 2 global currencies so that it can be a global price standard, and in my opinion crypto is a better thing than fiat so it is worthy of being a global currency that is recognized by the state, and I hope the state can accept crypto because of more benefits, whereas if if if Only depending on single currency certainly makes the economy vulnerable from problems such as inflation.

This can never be possible mate, because even from the beginning, (I mean from the creation of heaven and earth) it wasn't so, God almighty Himself created the world, and people and separated them by nations, in the days of the old testament, there were several nations in tht world, but God choose Israelite as His own, why did he choose only Israelite as His own? Why not the entire nations of the world? He even destroyed the nation of Egypt just to make sure that Israelite is set free from captivity.
This is something God had ordained right from creation, if God wanted the entire nations of the world to be one, He would have made it to be one right from the beginning of creation.

This idea will never be a possibility because of nationalism. As long as people do not divide themselves on the basis of their nationality, skill color, or language then it will remain a dream forever. We need to think we all are equal as human beings and white is not above black or an English man is not above the class of an Asian guy. If we can not put equality among all the people of the world there won't be tolerance among people for each other for their difference.

Well I don't recall such prohibition in our place, especially where the foreigner goes or spend their time like resorts and other sorts of places. I remember one time on a known beach resort they accept dollars for payment of their services, so it just depends on the country and their rules. I think there are advantages too, because the people who received foreign currencies exchange it to people who are paying taxes so the government could get profits from it, or maybe not.

Yes, I believe that in the future Mankind will be one big nation. 

This will be facilitated by neurointerface technologies.  People will be able to feel emotions and experiences of each other.  Enmity and misunderstanding between people will disappear.  On the one hand, people will retain their individuality, on the other hand, they will be able to unite their consciousnesses into a single supermind. 

Such Mankind is described in the fantastic novels of the humanist writer Ivan Efremov "The Andromeda Nebula" and "The Hour of the Bull". 

Will such a Humanity have a single currency? 

With this level of development of people, they no longer need currency. 

There will probably be reputation tokens that will evaluate the contribution of each individual to the roadmap for the development of Humanity.

Really, well I have known some countries who prohibited using foreign currencies in their local economy and with that the main reason why it is prohibited is the thing we don't know. Here in our country we are still centralised using our own fiat currency and even though we are not prohibited using foreign currencies but we can't use it either so we still need to go on a money changer and exchange it to our used fiat. Regarding on the statement of one nation one currency was and always the main concern of each nation.

"One nation one currency" debates will end when everyone starts to discuss which currency will this one and what nation will be selected as a starting point. In fact, this will lead to a more fragmented society. Nobody will want to loose their individuality. Every single person is unique, and that is why "One nation one currency" will never happen. This can be possible only in movie, where is only one tyrant leader. And we all know how this movies usually ends.

That will never happen, the countries that are the leading powers in the world have no reason to integrate and live in the same house with poor countries.
This is too farfetched, all governments have different crazy dreams they will never lose their power or share it with anyone. The wars happen mostly because they crave power rather than building a peaceful world, that's how the world works.

Of course the state must be able to control the state finance system so that the state only allows 1 currency, even in my country there is a prohibition on using foreign currencies for transactions, if transactions use foreign currencies, it is certain that many problems can occur and economic control can only be done if Seeing the performance of Legal Currency.

Government doesnt really like on things which are decentralized or cant really be controlled thats why thinking for Bitcoin to be one main currency then this wont really happen even in our lifetime.
Its true that most likely it would be ending up to be a side currency on which people could really deal off with or would be having some options.So its better not to mind off about
the possibilities and just like what most people been saying on here that its really that impossible for it to happen.

OP, it seems to me to realize your dream is very unlikely now and in the future especially if to see all countries have only one currency (bitcoin or other). I don't think it could happen in the future either in the next 50-100 years or more, but it is still possible to feel the growing adoption of crypto as an alternative means of payment to fiat.

The government wants centralization for its financial system and so far almost all countries in the world have their own currency. It's not easy to expect the world to adopt a single currency, so it should be a dream that won't come true.