Topic: The One World Currency: Is it Bitcoin? - page 8. (Read 1331 times)

If we not talk about laws and use our own perspectives we can say that this is happening already since we are already dealing with bitcoins every now an then and we have different nationality so if government will allow this well the adjustment period to us will not take long and all of us will get benefited on it if this one will happen.

It's not just about equal economic parity, it's just that the economic system of any state is not adapted to the use of any world currency. Any state conducts its own monetary policy and the issue of its own national currency is a good help in this matter, and no truly sovereign state will refuse such an instrument, because the one who controls the currency controls the situation in the country.

It could very well be a precursor to a one world currency, but the token that would succeed bitcoin cannot be centralized, otherwise people aren't going to dive in it. This goes without saying, that a decentralized currency like bitcoin can't be used by any one world government that may rise up in the future, and they may need to employ a new currency to facilitate their newly formed economy.

I do believe that it definitely has the chance especially given its technology where it puts the people free from any control from any third-party consensus.

I remember, I previously mentioned that if bitcoin will not be the 'main' currency in the future, I am confident that such currency would definitely be similar to bitcoin that also uses the blockchain technology. The blockchain technology cannot be simply be brushed away as its innovation and complexity introduced a modern way of transactions.

Right now I do not think that we will be even close to achieving a one world currency. Since there are disputes everywhere, economic instability, situation of pandemic is worsening what can one expect? There would still be countries like North Korea who would run the farthest when things like that would happen.

Even if we think about Bitcoins, there are countries like China who wants to take over the mining power and attack BTC. How can these countries support it ?
 
At the same time I do think that there will always be a resistance from countries like India who think that BTC is nothing but a fraud and people are still fighting over this since ages.

These few counties were just on the top of my head and there are indeed numerous like these. I do think that we might achieve something like that in the future for sure but that also 30-40 years afterwards. Right now it would be more useful if countries can stabilize their own economy first.

This is a conspiracy theory of the deranged and the bible thumpers (ha, same thing). It's not a new theory. Anyone spouting it is instantly outed as someone who doesn't live in the reality and discredited as an independent thinker. I'm sure there is remarkable overlap in the venn diagram of "one world governmenters" and people who believe George Soros secretly controls the world.

I was considering more like "people would use it as global currency" and not really any nations specifically. As long as nations do not ban it, that means we can use bitcoin anyway we like and that means we could make it a global currency ourselves.

I am not expecting USA government to come up and say that bitcoin is their favorite foreign currency or something, or maybe start using it for themselves or anything, something like that will probably will never happen or EUROPE decides to give up all of their euro and decided that from now on their one currency in all of Europe is bitcoin. That wasn't really what I assumed, what I assumed is that most nations will accept bitcoin as legal tender so after that we are going to end up using bitcoin to pay each other all over the world without putting government into our wallets which would be quite good.

I don't think it's possible to have one world currency. Atleast until every country in the world has equal economic parity. Without government run economy would make it almost impossible to develop public infrastructure and basic necessities required for anyone. Moreover labour exploitation would reach the biggest heights as someone in Africa would work for peanuts for anyone in the USA. Not talking about the fees problem as there can be some other replacement or alt which can serve the purpose. This thing looks pretty difficult.

currently i think it was the us dollar is the one world currency because almost all the country are familiar to its value and they often use a usd as thier secondary currency for conversion .
 but in the future btc has a chance to steal it to usd .
 every country will easily accept it because no one owns btc not unlike to usd that owned by usa and they will think that  united states are only going to get all the benefits .

You think having a high marketcap is going to make bitcoin "The One World Currency"? Nope. Market cap means nothing. Look at what happens when the network gets heavily loaded. Slow network confirmation. Crazy fees. Now imagine, when the whole world starts using it. Network is going to get insanely overloaded and be prepared to pay hundreds of dollars as a fee for quick confirmation. Bitcoin isn't ready to be the one world currency. There are flaws in it. It is best suited to be used as a store of value.

I also agree that in the future bitcoin is the only world currency that will become a means of transaction. but can it happen if other countries do not have control over bitcoin. bitcoin is decentralized and not centralized, that's a fact. and somehow the world will use digital money in the future with the symbol of the currency of their respective countries which evolves into digital money.

My opinion is that bitcoin cannot become the "currency of the world", it is clear that the supply in nature of bitcoin will not be able to meet the needs of daily existence, in life, economics as  a regular (fiat) currency.  The currency of a world has very strict equilibrium requirements and regulations, in which bitcoin is highly volatile.  Bitcoin will now become a unique intellectual property and the net value it will acquire based on the transformative trend of a new economy.

The idea of everyone holding a full bitcoin is bullshit, there is a reason for Satoshi keeping a limit for the amount of coins in circulation and it means that you can have any sub division of a bitcoin. There are lot of lost coins and then there are a million coins supposedly owned by Satoshi which is not in circulation and the number of coins lost to scammers and some of them are still idle, bitcoin is the universal coin and you do not need a government to agree on anything, all you need to do is to start using it for global transaction.

Into becoming the one world currency, that's what I do not know. I believe that Bitcoin will become the best-stored value asset that anybody could have and that anybody in the world could buy as long as they know how to. Isn't that what makes the "One World Currency"? If anyone and everyone are willing to accept that particular asset. Just like the USD right now.

Can it sustain the growing population though, I mean there isn't bitcoin for everyone in the world to go around, not to mention that there are a lot of lost coins, I like the idea of one currency for the whole world, the only problem is scaling and every government agreeing on one currency.

One world currency sounds good and it's happening as the marketcap keeps growing. It's also a digital gold that could surpass the marketcap of gold in the future. Currently we are still at number 8, but we know how fast bitcoin could pump since its our currency, so maybe soon we will be in the top 3 before we get to the top 1. That has been my dream and I think it will come into reality in the future.

"One World Currency" sounds a lot like some sort of conspiracy theory or doomsday scenario. I believe that there will never be such thing as single global government and single global currency, at least not in the next 1000 years.

Bitcoin being global by nature does not automatically make it the future single world currency, a lot of things need to happen for that - the collapse of major governments, full solution to Bitcoin's scalability, lack of competition from centralized systems like Visa that can just issue their own currency in such scenario.

This is a topic that I have always wondered about, as a child they told me that this was going to happen, a single world currency, if we go to the sacred scriptures at the end of time they talk about this and a seal, Sometimes I think that the seal It is the QR code, but already leaving the religious plane and of particular formation, Bitcoin can be the only currency in the world, because it is decentralized and because it is not controlled by governments or banks.

It is a currency that everyone can have access to, of course countries or great powers are against Bitcoin, it is normal, because their liquidity based on FIAT money is affected, they could no longer devalue their currency, because compared to Bitcoin it is worse . In traditional economics, very little is actually what FIAT money is backed with gold, yet Powell, chairman of the FED, takes into account the possible gold substitute that has been Bitcoin, even though Bitcoin does not have a solid financial backing, only supply and demand and blockchain.

Countries will begin to fight each other, in fact it is already happening, they will begin to launch their own stablecoins based on Blockchain, but over time it will give the same result, because the more bills that are printed will have the same debt and inflation problem, in cryptocurrencies would have to limit their supply, and I don't think they will.

Although Bitcoin was born on the idea A Peer-to-Peer Electronic Cash System, at this point it is also more than obvious that its application is quite different, because for most investors it is not a currency, but just a way to make a profit or store of value.

It is my opinion that it is unrealistic to expect the world's greatest powers to ever give up their monetary sovereignty in favor of something they cannot control, and that can be called Bitcoin or some xCoin. Maybe something like this is possible in the distant future, but for now fiat will remain something that people still believe in the most - and when it comes to Bitcoin, we are still very far from any significant adaptation - unless someone thinks that 1-2% of the world's population involved in crypto is something significant?

There will never be, one currency for all countries in the world.  Even the dollar cannot be used as currency for all countries, neither can BTC.  Every country has its own needs and interests.  How can different needs be combined with one medium of exchange.  This will be very difficult to implement.  BTC which was good enough was not accepted by all countries and China immediately made its competitors.  So that whether it's BTC or not, no one will be able to unite the country's currency.