Topic: What will happen if we use a one currency only? - page 17. (Read 19529 times)
If that happen, no more overseas worker, because most of the people go to the other country because the currency they want to go is bigger than their local currency.
[Edited to make it more understandable question]
What if all nation use only a one currency or one global currency?, What will happen to our world?, What is the effect of every nation's or every country economy?, It can make people's unite each other?Any opinion.
Since it's edited I'll give a little bit different answer. It will prevent crisis in some countries because some of them depends on local currency/USD price, theyvare usually importers so when USD rises, wages are lowered and prices are becoming higher. So one currency is better of course, it will fix problems but there are some big players who enjoy multi currencies because they usually plan manipulating of price and make a big profit, so it more likely won't happen.What if all nation use only a one currency or one global currency?, What will happen to our world?, What is the effect of every nation's or every country economy?, It can make people's unite each other?Any opinion.
I have the feeling that this will be the trend in the not too distant future: economic unification. It is true that for practical purposes the dollar has been a commonly accepted currency throughout the world, from the most exotic places to the most remote village, but a currency with official acceptance is necessary in all countries, and the euro has been a good experiment in that sense. Is it a crypto, in this case bitcoin, the answer? We will see over the years.
Well i don't see this feasible just yet and even if it's implemented i guess it will signal the end of the world as the good book"The Bible" says and so it's not going to stand the test of time and should be treated as a ridiculous idea.
I have the feeling that this will be the trend in the not too distant future: economic unification. It is true that for practical purposes the dollar has been a commonly accepted currency throughout the world, from the most exotic places to the most remote village, but a currency with official acceptance is necessary in all countries, and the euro has been a good experiment in that sense. Is it a crypto, in this case bitcoin, the answer? We will see over the years.
[Edited to make it more understandable question]
What if all nation use only a one currency or one global currency?, What will happen to our world?, What is the effect of every nation's or every country economy?, It can make people's unite each other?Any opinion.
Since it's edited I'll give a little bit different answer. It will prevent crisis in some countries because some of them depends on local currency/USD price, theyvare usually importers so when USD rises, wages are lowered and prices are becoming higher. So one currency is better of course, it will fix problems but there are some big players who enjoy multi currencies because they usually plan manipulating of price and make a big profit, so it more likely won't happen. What if all nation use only a one currency or one global currency?, What will happen to our world?, What is the effect of every nation's or every country economy?, It can make people's unite each other?Any opinion.
That means practically to cancel trading, which will have as a result many people to loose interest in cryptos. Also, that means that there will be no diversity in anyone's portfolio with a result the economy to stabilize at some point and stay neutral. Also, the one coin will turn to be controlled easier by governments.
There are disadvantage and advantages of having one currency the simplest advantage is the transaction cost of every ordinary people visiting from country to country and beyond will be lessen and i think the disadvantage is that every country will based its currency value with the economics status of one's country i think there is a conflict that's need to be dig up for the super power country and the third world country.
That means practically to cancel trading, which will have as a result many people to loose interest in cryptos. Also, that means that there will be no diversity in anyone's portfolio with a result the economy to stabilize at some point and stay neutral. Also, the one coin will turn to be controlled easier by governments.
There are disadvantage and advantages of having one currency the simplest advantage is the transaction cost of every ordinary people visiting from country to country and beyond will be lessen and i think the disadvantage is that every country will based its currency value with the economics status of one's country i think there is a conflict that's need to be dig up for the super power country and the third world country.I guess exchanges will die. It also brings a whole forex and now cryptocurrency market down and these are places where people like to speculate and invest. This money put there will have to be invested elsewhere, so I guess we would see other markets developed or a big pour of money to stocks. I also think, that the world is not even close to being ready to adapt a one currency, because of differences in various economies and countries wealths. I mean, a loaf of bread would cost in one country $1 while in the other only $0.3 and these price ranges are too wide for a one currency to healthy remain in all countries.
There will no longer any kind of exchange and all the people who are into trader and all that stuff will have to look for some other ways of earning money. I don’t think so that this thing will happen in this world. It is because of the reason that it is really a difficult task to convince each and everyone us and especially the governments of different countries to stop using their currencies. 
That means practically to cancel trading, which will have as a result many people to loose interest in cryptos. Also, that means that there will be no diversity in anyone's portfolio with a result the economy to stabilize at some point and stay neutral. Also, the one coin will turn to be controlled easier by governments.
There are disadvantage and advantages of having one currency the simplest advantage is the transaction cost of every ordinary people visiting from country to country and beyond will be lessen and i think the disadvantage is that every country will based its currency value with the economics status of one's country i think there is a conflict that's need to be dig up for the super power country and the third world country. [Edited to make it more understandable question]
What if all nation use only a one currency or one global currency?, What will happen to our world?, What is the effect of every nation's or every country economy?, It can make people's unite each other?Any opinion.
All countries arround the world has different types of governments so it is impossible to have one currency but on be half of your ideas and curiousity I will answer it but not sure about my speculations. If we are using one cryptocurrency or fiat money worldwide I think the price is multiplied by ten as what we have today due to high demand and supply is low most especially in Bitcoin. Maybe it had happened once with our ancestors way back thousands of years ago as what I've seen and read on books and television that they used precious metal like gold to buy goods and we all know that gold or silver is widely used during that time as form of currency. If that really had happened then I think that there have been no exchanges ever existed until today. I am not sure on what is the effect of having one currency in every countries economy since it is really hard to speculate impossible things to happen. What if all nation use only a one currency or one global currency?, What will happen to our world?, What is the effect of every nation's or every country economy?, It can make people's unite each other?Any opinion.
Yes it may possibly make people united and will not make people confused or spend time and money to exchange into every local currencies especially the travellers or foreign tourists.
It's a fun pipedream, but it'll never happen. Big governments love their monetary policy and currency manipulation. For those non-economists, monetary policy relies on manipulating the money supply to alter the value of the fiat currency. So every governing body that has control over a currency can (and almost always does) implement monetary policy. Thus, if there was only one currency, the entire world would have to agree on a singular monetary policy. Never going to happen! Hell, the euro is barely holding it together because different European countries want vastly different policies. Now imagine that on the worldwide scale
Then if you want to say that the universal currency should be bitcoin, there'd be no monetary policy at all as the money supply is fixed in the long term. I guess the central bank could buy and then burn btc, but this is obviously very difficult compared to current monetary policy, perhaps prohibitively so. Also, you wouldn't be able to prevent other agents from doing the same, so yea it wouldn't really work.
Then if you want to say that the universal currency should be bitcoin, there'd be no monetary policy at all as the money supply is fixed in the long term. I guess the central bank could buy and then burn btc, but this is obviously very difficult compared to current monetary policy, perhaps prohibitively so. Also, you wouldn't be able to prevent other agents from doing the same, so yea it wouldn't really work.
If everyone would have the same currency, there would be certain advantages that can be achieved when every currency is the same and disadvantages when also having the same currency.
Having one currency means easier transaction with people. Of course there are no other currencies to be used and everyone would know that currency, because it's the only one.
Having one currency means easier transaction with people. Of course there are no other currencies to be used and everyone would know that currency, because it's the only one.
[Edited to make it more understandable question]
What if all nation use only a one currency or one global currency?, What will happen to our world?, What is the effect of every nation's or every country economy?, It can make people's unite each other?Any opinion.
What if all nation use only a one currency or one global currency?, What will happen to our world?, What is the effect of every nation's or every country economy?, It can make people's unite each other?Any opinion.
I think it would cause chaos to the economy of almost all the country. It is not a good idea to to use only one currency especially now that it is every country already has a stable currency.
I guess exchanges will die. It also brings a whole forex and now cryptocurrency market down and these are places where people like to speculate and invest. This money put there will have to be invested elsewhere, so I guess we would see other markets developed or a big pour of money to stocks. I also think, that the world is not even close to being ready to adapt a one currency, because of differences in various economies and countries wealths. I mean, a loaf of bread would cost in one country $1 while in the other only $0.3 and these price ranges are too wide for a one currency to healthy remain in all countries.
That means practically to cancel trading, which will have as a result many people to loose interest in cryptos. Also, that means that there will be no diversity in anyone's portfolio with a result the economy to stabilize at some point and stay neutral. Also, the one coin will turn to be controlled easier by governments.
You are so right. If there will no competitor, how can a single currency be used for trading.It will be end of this profession, at least the digital trading one. I don’t know what will happen if the government will become able of controlling one currency easily because at the present, there are not many issues rather governments don’t care about them but the point is having only one currency for the whole world is a bad idea and practically impossible too.
That means practically to cancel trading, which will have as a result many people to loose interest in cryptos. Also, that means that there will be no diversity in anyone's portfolio with a result the economy to stabilize at some point and stay neutral. Also, the one coin will turn to be controlled easier by governments.
You are so right. If there will no competitor, how can a single currency be used for trading.It will be end of this profession, at least the digital trading one. I don’t know what will happen if the government will become able of controlling one currency easily because at the present, there are not many issues rather governments don’t care about them but the point is having only one currency for the whole world is a bad idea and practically impossible too.
That means practically to cancel trading, which will have as a result many people to loose interest in cryptos. Also, that means that there will be no diversity in anyone's portfolio with a result the economy to stabilize at some point and stay neutral. Also, the one coin will turn to be controlled easier by governments.
I agree with the idea if we use a one currency only, because with one currency it will make the transaction easier and of course the distribution of money will be better than using a lot of currency.
there will be a lot of problem , even a chaos. i can not believe if this idea could really realized , almost impossible as we are live in different economy situations , different place and different culture which causing different point of view.every government will always try to regulate it for the good ( actually for the greedy they have ) , impossible to happened.
I think this is a very good idea and should be applied soon, I hope that with one currency then there is no poverty and wealth can be spread more equitable and there is no longer a very high economic gap..
There is much alternative and individuals are willing bitcoin to end up plainly a world just a single cash on the grounds that bitcoin can breath life into satisfaction while different monetary forms are simply making wars and government issues while bitcoin have never made something to that effect.
When there is only one currency then there will be shortage ot it or there will be problem with distribution. Some will be rich and some will be in poor state because of un equal distribution. Its better if we have other option so that its not a problem if anyone has an access.
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