First off, there wouldn't be a "One World Government" not now and not ever.
Secondly, Bitcoin is hardly ever going to be generally accepted as a "One World Currency" because of these major challenges.
1) Technological issues
2) Transactional issues- It is too volatile
3) Regulatory issues
Topic: The One World Currency: Is it Bitcoin? - page 2. (Read 1331 times)
Yes but in decentralized form and not centralized. However, it may be good if we compare to centralized currency. As we all know the so many benefits of decentralized currency.
If you can have the whole world agree that bitcoin becomes the main currency for everyone around the globe and make USA relinquish their US Dollar status as a reserve currency for many countries then there's a possibility that you can make bitcoin the one world currency, also worth mentioning that China wants to be the next reserve currency so I don't think that they will easily bulge.
Bitcoin is a decentralized cryptocurrency. It is not controlled by governments and banks and can be traded at any time around the world. I don't think Bitcoin will become a world currency yet. It will still be restricted by some countries or regions. Compared with currency, Bitcoin is now more suitable as a store of value, and people prefer to invest in Bitcoin to profit from it.
Bitcoin is not yet a world currency, it is more used as a store of value. There are still some countries that do not accept Bitcoin, and Bitcoin cannot be used as currency in these countries, but Bitcoin can be used for payment in many areas, especially in El Salvador that has already adopted Bitcoin as legal tender. With people's recognition and demand for Bitcoin, Bitcoin is the future development trend.
In the future world, digital currency will become the mainstream currency, and Bitcoin is forward-looking. In recent years, the emergence of multiple digital currencies has failed to shake Bitcoin's position in the encrypted market, and people's recognition and use of Bitcoin are also increasing. Bitcoin is not subject to national restrictions and can be circulated and traded all over the world. And El Salvador has adopted Bitcoin as legal tender, and some regions also want to use it. Cryptocurrency is the future trend, and Bitcoin may also become the world currency.
At present, I think it is not feasible enough to circulate Bitcoin as a world currency. First, as a world currency, it needs to have circulation capabilities, but the circulation of Bitcoin is not very good now; because Bitcoin is limited, the total amount is limited. Fixed, it is austerity. As the amount of mining gradually decreases, people may be more inclined to collect, rather than sell Bitcoin. In this respect, it is not suitable as a world currency; and when Bitcoin is used as a means of payment , Transaction costs and time, the cost of small payments is higher, although through LN may effectively improve this problem, I hope to achieve fast payment in the future, no fees.
No government is behind the creation of bitcoin even though any government created it based on one world one currency still it doesn't make any sense simply because bitcoin is completely decentralized so even of you hold the bitcoin you can't alter the codes in it, if you try to change the nodes then it will become invalid so Satoshi is someone from middle class but have the economic futuristic thinking created it before the one currency concept.
It is said that Bitcoin is the precursor of the "One World Currency" that will be used in a "One World Government". In the past, it has been predicted that a "One World Currency" would come into fruition as the current monetary system collapses in its entirety. It is today where we have Bitcoin, a Peer-to-Peer digital cash system that's decentralized, used globally by many people worldwide. Essentially, Bitcoin is a "One World Currency" although not backed by any government or trusted entity of any kind.
What do you think? Is Bitcoin the "One World Currency"? Or will another currency take its place in the future? If that happens, which currency do you think will become the "One World Currency"? Will it be the US Dollar, the Euro, or the Chinese Yuan? Do you think governments will unanimously agree to use a single currency for everything? Your input will be greatly appreciated. Thanks
I really don't think that bitcoin is in any position or on its way of becoming a one currency that is used all over the world, and that is due to a lot of issues and a lot of problems, lie high fees and long transaction time, and these pose a problem when it comes to the day to day or microtransactions that people usually do, like shopping or paying for small things, so unless this problem is solved i don't think that people would prefer to use bitcoin over the normal payment methods. What do you think? Is Bitcoin the "One World Currency"? Or will another currency take its place in the future? If that happens, which currency do you think will become the "One World Currency"? Will it be the US Dollar, the Euro, or the Chinese Yuan? Do you think governments will unanimously agree to use a single currency for everything? Your input will be greatly appreciated. Thanks
bitcoin is not really intended to become the "only money" at all. As said by other posters, that it technically nearly impossible, not just for the limitation of the network, but because the mechanism to float the value of goods in different countries is nowadays solved by having all currencies float respective to each other. If that did not exist, you would need to change the price of goods almost every minute in every place.
Bitcoin can however become the dominant way of transferring value for transactions of certain value, across borders, international commerce,... There is no particular need to pay for your coffee with bitcoin as there is no need to pay for it with gold bullion coins.
Bitcoin can however become the dominant way of transferring value for transactions of certain value, across borders, international commerce,... There is no particular need to pay for your coffee with bitcoin as there is no need to pay for it with gold bullion coins.
It can never be because bitcoin is not stable as a currency. For it to be widely adopted, it should not be volatile and the fees should not be expensive, people will only use it that way, not the current situation. Bitcoin, as it stays longer, has not become a currency according to its purpose, instead, it becomes a speculative asset and its purpose now becomes an investment.
Never say never, but still, on the whole, I agree with you. Despite my generally positive attitude to cryptocurrencies, it is worth saying that in general, the idea of one or a single world currency is not feasible in modern economic and political conditions, and even if this idea were to come to life one day, it would hardly be bitcoin. Because the adoption of bitcoin as a single world currency would mean the collapse of the entire political and economic world order, when states suddenly cannot support their currencies and manage the economic mechanism in the state through the national currency. In general, if this idea suddenly comes to fruition, what does it mean that a disaster has happened to the whole world and state institutions have suddenly stopped working.
It can never be because bitcoin is not stable as a currency. For it to be widely adopted, it should not be volatile and the fees should not be expensive, people will only use it that way, not the current situation. Bitcoin, as it stays longer, has not become a currency according to its purpose, instead, it becomes a speculative asset and its purpose now becomes an investment.
Never say never, but still, on the whole, I agree with you. Despite my generally positive attitude to cryptocurrencies, it is worth saying that in general, the idea of one or a single world currency is not feasible in modern economic and political conditions, and even if this idea were to come to life one day, it would hardly be bitcoin. Because the adoption of bitcoin as a single world currency would mean the collapse of the entire political and economic world order, when states suddenly cannot support their currencies and manage the economic mechanism in the state through the national currency. In general, if this idea suddenly comes to fruition, what does it mean that a disaster has happened to the whole world and state institutions have suddenly stopped working.It can never be because bitcoin is not stable as a currency. For it to be widely adopted, it should not be volatile and the fees should not be expensive, people will only use it that way, not the current situation. Bitcoin, as it stays longer, has not become a currency according to its purpose, instead, it becomes a speculative asset and its purpose now becomes an investment.
Never say never, but still, on the whole, I agree with you. Despite my generally positive attitude to cryptocurrencies, it is worth saying that in general, the idea of one or a single world currency is not feasible in modern economic and political conditions, and even if this idea were to come to life one day, it would hardly be bitcoin. Because the adoption of bitcoin as a single world currency would mean the collapse of the entire political and economic world order, when states suddenly cannot support their currencies and manage the economic mechanism in the state through the national currency. In general, if this idea suddenly comes to fruition, what does it mean that a disaster has happened to the whole world and state institutions have suddenly stopped working. 
It can never be because bitcoin is not stable as a currency. For it to be widely adopted, it should not be volatile and the fees should not be expensive, people will only use it that way, not the current situation. Bitcoin, as it stays longer, has not become a currency according to its purpose, instead, it becomes a speculative asset and its purpose now becomes an investment.
I think Bitcoin is not stable enough to be used as a world currency alone. If the national policy allows Bitcoin to become a social product, there is no problem as a means of payment. In addition, the value of Bitcoin and its function as a means of payment also depend on whether the whole society accepts it. Therefore, it seems that Bitcoin is unrealistic as a single currency in circulation. In this sense, Bitcoin is just an asset, a value-preserving product of the same nature as gold, and a product of consensus. Its value as an investment asset is still acceptable.
For now, it really seems like Bitcoin will maintain its place when it comes to being "The One World Currency". But this does not mean that Bitcoin will always be at the top of all of the cryptocurrencies. There is always going to be a possibility for us to see another coin taking Bitcoin's place in the future.
At the moment we see more and more countries baning crypto currencies. It seems that countries are not ready yet to give up the control over their own money supply. Bitcoins could really become the world newest number one currency. But as long as countries are being so protective of their own currency, this will not happen.
But what good thing is those countries who ban bitcoin are now opening their door to adopt the new changes of financial system. And I don't convince about bitcoin is the one they want to use since for sure they are aiming for USD to became more stronger, bitcoin is little bit new so expect that billionaires and government are not supporting this idea.
Actually, it is right when a state ban you something, particularly a currency, that an alarm bell should ring and warn everyone that particular item is precious. US forbit gold, every totalitarian state forbid owning foreign currencies. These are the signs bitcoin is still needed as the asset pc individual sovereignty.
For now, it really seems like Bitcoin will maintain its place when it comes to being "The One World Currency". But this does not mean that Bitcoin will always be at the top of all of the cryptocurrencies. There is always going to be a possibility for us to see another coin taking Bitcoin's place in the future.
At the moment we see more and more countries baning crypto currencies. It seems that countries are not ready yet to give up the control over their own money supply. Bitcoins could really become the world newest number one currency. But as long as countries are being so protective of their own currency, this will not happen.
But what good thing is those countries who ban bitcoin are now opening their door to adopt the new changes of financial system. And I don't convince about bitcoin is the one they want to use since for sure they are aiming for USD to became more stronger, bitcoin is little bit new so expect that billionaires and government are not supporting this idea.
For now, it really seems like Bitcoin will maintain its place when it comes to being "The One World Currency". But this does not mean that Bitcoin will always be at the top of all of the cryptocurrencies. There is always going to be a possibility for us to see another coin taking Bitcoin's place in the future.
There could be a lot of candidates but this is not bitcoin for sure. How you can use it as global currency with 2 transactions per second
I understand that Bitcoin's limited transaction capacity makes it unsuitable as a global currency. This no longer becomes an issue with the Lightning Network in play. Even with a limited supply of 21 million coins, there's more than enough Bitcoin for anyone to enjoy. That's because Bitcoin is divisible to 8 units, meaning there are quadrillions of satoshis for everyone.
What's stopping Bitcoin from being used as a global currency is its decentralized network architecture. If it wasn't by that, most (if not all) countries would've adopted Bitcoin already. After all, governments want something than can manipulate to their own benefit. Time will tell us whenever countries will have a diversity of currencies at their disposal or unify themselves with a single, global currency for all. Just my opinion
It is not bitcoin.
I don't really believe we'll see this happen for hundreds of years. One world currency essentially means we will have achieved "World Peace" by one standard, or another. That idea looks different depending on the soil you stand on... And there might be some fighting the world would have to do if one were to impose their version of this idea on another.
I don't believe it's impossible, but I don't believe bitcoin is the means to achieve it.
I believe we'll see capitalism usher in new innovations in blockchain as a product, like a commodity money for different networks of trade and access tokens for different products.
I see the future hierarchy of the digitalized global economy, in terms of the currencies and mediums of exchange looking something like:
Fiat (USD, Euro, and albeit begrudgingly, the Yuan)
Bitcoin (Store of value for all digital assets "gold for crypto")
Altcoins (Ethereum, Polkadot, etc.)
Product Tokens (Tokens built on altcoin networks that function as a digitalized, interchangeable, commodity money for goods and services rendered by various forms of organizations using new business models backed by various forms of blockchains, dapps and smart contracts)
It is quite possible that the idea of a "one world currency" may actually be antiquated by the proliferation of blockchain. Unless a single government takes over the world, I honestly don't understand the point with digital money and global internet access happening as we speak... If anything, trade is about to get a lot more interesting and profitable for every first world nation, and every citizen and organization of those nations paying attention.
After the world gets a handle on covid, with the race between the Digital Yuan and the Digital USD, Global trade expansion is going to be very interesting with starlink fully operational and the further maturation of blockchain.
I don't really believe we'll see this happen for hundreds of years. One world currency essentially means we will have achieved "World Peace" by one standard, or another. That idea looks different depending on the soil you stand on... And there might be some fighting the world would have to do if one were to impose their version of this idea on another.
I don't believe it's impossible, but I don't believe bitcoin is the means to achieve it.
I believe we'll see capitalism usher in new innovations in blockchain as a product, like a commodity money for different networks of trade and access tokens for different products.
I see the future hierarchy of the digitalized global economy, in terms of the currencies and mediums of exchange looking something like:
Fiat (USD, Euro, and albeit begrudgingly, the Yuan)
Bitcoin (Store of value for all digital assets "gold for crypto")
Altcoins (Ethereum, Polkadot, etc.)
Product Tokens (Tokens built on altcoin networks that function as a digitalized, interchangeable, commodity money for goods and services rendered by various forms of organizations using new business models backed by various forms of blockchains, dapps and smart contracts)
It is quite possible that the idea of a "one world currency" may actually be antiquated by the proliferation of blockchain. Unless a single government takes over the world, I honestly don't understand the point with digital money and global internet access happening as we speak... If anything, trade is about to get a lot more interesting and profitable for every first world nation, and every citizen and organization of those nations paying attention.
After the world gets a handle on covid, with the race between the Digital Yuan and the Digital USD, Global trade expansion is going to be very interesting with starlink fully operational and the further maturation of blockchain.
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