Topic: What will happen if we use a one currency only? - page 2. (Read 19477 times)

certainly in other countries will not accept our money because the currency in other countries is different but if agreed by all countries with the same currency can surely.

As much as we want to for sure that won't happen, everyone of us here does not want bitcoin to be the legal tender, and for sure it will make a big debate to the whole world if one proposes to make bitcoin as the legal tender or the only currency to be used worldwide especially those countries that until now was not accepting bitcoin to enter their county as they think that it was just a big scam.

 Sorry this cant work.  It goes against the long term principles of comparative advantage, every region of the world has its own bias and advantages.   In simple agricultural terms every hemisphere of the globe has its own season.   Not every slope is sunny and ideal to produce grapes, some exchange and variation is natural across the world and this with other reasons is why we dont hold just one currency.

If you dont believe you only have to look at the great contrast and strain the EURO is under, every country and economy in the that system varies and some of them suffer greatly for trying to use that EURO when it is not their own countries currency.    It can cause great hardship, ask the Greeks on what they think of you one currency idea.  
  Ideals can be dangerous to live under

Actually it all depends on government policy in each country when they want to preserve the original currency forever automatically the currency digital will not be easily accepted to experience the development in the country.

In the event that the planet simply applies one cash, I figure it'll be larger joblessness and neediness in every nation. Since there's no benchmark to choose the estimation of cash. what is a lot of, on the off probability that it happens there's no organization willing to offer a high compensation on the grounds that the esteem is that the same, and level of instruction doesn't mean something. Suppose someone United Nations agency attained a title, as an example, their leader or government would be hungry in lightweight of the actual fact that their pay has Associate in Nursing indistinguishable incentive from customary laborers.

Everything without the competition die down irrespective whatever that thing is, in my opinion if we will have one currency in the complete world, then who will be controlling that currency in case that currency is being supported by the central bank. Also the central bank will have more power while dictating the countries. And if there is decentralized currency than the countries will larger population will have better control to play around with that currency. I must say that it is better to have more than one currencies.

If we only use one currency i think it is good, all around the world it is good because the value of it is the same as the other country. But we will never know the value or if there is a greater rate of our currency because there is no basis of what and where to value or currency. There will be no appraisal and depreciation of our money if we only use one currency.

Yes, fiat has always existed because it is our traditional currencies and it is impossible that replace by cryptocurrency.
Every fiat in each country have different rate value it because of whole income and era in the country was not the same.
So, let us accept that the cryptocurrencies are is one other alternative currency we may be used as a digital money compared to paper money.

We dont know yet as everything can change if many countries will be allowed later the uses or to use bitcoins while any fiat can still exist within the countries that have no overall interest in online transactions. One currency to be used is not going to happen, there will always have to be an alternative with bitcoins

The main barrier to this becoming a reality is that countries will loose a way of trying to control their economy. Money supply can be used as a method in which the central bank can adapt policies to achieve their desired outcome. If there is a world currency then interest rates and money supply would be made from a central point. Interest rates will be determined by one worldwide bank.But there are advantages and disadvantages to implementing a world currency.And before having global currency,we need to follow a procedure  like,the world should become one country,all the countries , should become it's state, the citizens should become the citizens of the world.All the citizens should be governed by the common law. The products, Agriculture , Medical , Mining & technology should be available to each & every citizen of the one world.And all the citizens should enjoy the same judicial system, irrespective of the cast creed or region.After Attaining all these practically , economically the global  currency system will work.But the big problem are,every country has its own financial institution and different levels in that. Removing these flaws by bringing a common mechanism would be the major  problem.Bringing one global currency in to scene, will increase debt on countries having low value currency. For example - Indian Rupee is downgraded compare to dollar and hence such conversion may lead to increase debt level over our country.The bigger a system gets,the more it become prone to faults.Distribution of powers among developed and developing countries would be another major problem...One day it could happen who knows???

The whole countries of the world can not use bitcoin as the universal currency because that will expose them to danger and they will be open to corruption and high rate of money laundering through the use of bitcoin and no trace at all because bitcoin is a decentralized currency.

Firstly i think it can not be possible because all country in the world are not economically same. So rich country government will not allow to poor government for same currency. It has both positive and negative effect. But i will be happy as we are poor country.

I think that this is impossible. by if only one type of crypto will have no strong crypto market right now. materials crypto can develop?

No, if the government accept this concept, they used international currency many years ago without having to use the current monetary system with different currency. Competition and dictatorship are factors that make the present system still alive. The government likes it and so does the investors.

This will create problems for those countries that finance the budget through inflation.
This will not allow to regulate (increase) the competitiveness of their goods by depreciating their own currency.

Having an one cash around the whole world will give a broadened economy all through the nation who have acknowledged such a strategy. To put it plainly, this will get utilized same as the European Association than has been working long with such a consolidated gathering of nations having a similar money.

To use one currency is a sign of One nation, what I mean all countries are agree and also governments to governments. All all countries will be allied each other for short the ONE PIECE. But I don't think it will not affect the economic of each countries.

In the case of currencies I think one currency is not good because if we have more than one currencies we can start trading in these.

I think this is a good idea, by making the world only use one currency then there is no social class difference that is too high like today, we all know that many rich people in USA, China, Germany, Japan and other big country and the wealth of 1 person greater than the country's foreign exchange in Africa.

You need total economic integration and a large amount of political integration to make a single currency work well for everyone. my theory is that the higher you go up in levels of government the more that government is captured by powerful interests only working for their own profit. i would not trust the UN for international street cleaning and garbage collection so why would i trust them to manage a world currency. then it is worthless which is why too much currency speculation is a bad thing.