Topic: What will happen if we use a one currency only? - page 20. (Read 19480 times)

This is a good idea, with one currency of course there is no significant price difference, we will get the price of 1 kg of apples in south africa the same price as in Thailand, I agree with the idea of one world one currency.

there is a chance that the economy will boost and there is always one thing bad will take place also, so the question here is what if we use only one particular currency if we utilised it the economic climate can boost simply because practically all of the folks will cooperate relating to to this currency they will often go over about it and the negative thing is individuals will battle towards to it.

Everything would be simpler. To anywhere in the world wherever you go, you could use it without having to convert to the local currency, and therefore paying exchange rates.

However, having a single currency is a bit problematic, because if it fails you have the entire world economy at risk.

Well,if that's the case then there should be a majority decision or plan to make it work. Actually, if we use only one currency,it will be easier for us to trade our products import or export. If the currency is dollars alone,then there will be no problems for money exchanger and it's worry free bacause we can travel everywhere using one currency. If ever bitcoin is our only currency,that will be the best decision to make because it has everything and it will be easier for us to send out money to our family and save some of our money. Therefore one currency is good.

It is impossible to have one forex for all nations around the world. The winner will be the a single who controls the currency. Extremely typically to heat up the economy making use of financial emission. How can this be accomplished if other nations around the world are not rewarding.

I think its not good if use one currency only. Imagine if it is centralized only one institution will hold the production of currency and it will be prone to terrorism as it is a weak spot because lack of currency only means we will go back to not being civilized. If it is decentralized it can be easily hold by rich people and they can dictate the value of that currency and the most of the time it is not good.

I think it's a very good thing, because it is certain that the price of goods in all countries of the world will be the same,
but it would be impossible to make just one currency in this world,
because each country still has selfish

It is a little bit of a paradox, but it is kinda like saying that product sales for X model refrigerator would sky rocket if it was the only brand out there.  One forex has a extended time to get here and by the time it does, there are probably going to be other derivatives of Bitcoin that provide that objective greater. Then picking that one particular forex will be an additional probelm.

There are two system of printing money, pseudo gold and fiat money. In pseudo gold system, printed and circulated money is backed by gold or silver reserves owned by issuing institution, but some countries use fiat money system to print money, so the money in circulation is not supported by real asset or not even supporting by anything, tens years ago the government of my country cannot maximally collect tax from the people, so the president instructs to print money in excess. That's why we need to choose another currency to become the only currency that we use.

Implementing a single currency worldwide would be highly impractical, for the areas trying to to force a single currency would likely do more harm than good.The simple reason is if there is only on currency than it had to bear the burden of many under-developed economies.

It also affects some parts of the economy as it would strike down the need of financial sector employees and would generate huge unemployment.

A global currency would affect every country and economy that the world has. It would probably unite nations or can cause more chaos. But I strongly believe that there will be a bigger competition in that since there is only one basis of every economy.

As for the gold that’s converted to paper money, in my knowledge (and to what processes we have in our country), it is the world bank that processes and prints the money worldwide— not the government— and they convert it to paper money or coins with the “conversion” they have. I don’t know how much gold to money costs, but I’m sure that there is. The gold given by the government to the worldbank is put into the money produced, whether its coin or paper — aside from their service charge.

Using one type currency is a good thing but there is a more important thing that is the kind of money that is used. People in the past were used gold for transactions but it's not practically, so they entrust their gold to certain people who sit in the banca ( derivied from the romans that mean bench, now we call it bank ) to get banknotes ( paper money), but now government prints paper money regardless the amount of gold,  this is why using paper money is not fair to us. We better to looking for the alternative, probably bitcoin is the best one.

Having an one currency around the entire world will provide a diversified economy throughout the country who have accepted such a method. In short, this will get used same as the European Union than has been functioning long with such a combined group of countries having the same currency.

I think life will be easier to sustain since the price's of food or daily needs will decrease and in that case, I think that bitcoin will lose its value since it will be easier to live and there will be no more problem entertain since the currency is internationally stable.

I think, that would bring a better world to everyone. A world where there is an equal currency, this could mean that there will be no more division between societies, third worlds would be no more and there might be equal opportunities for every one.

In fact it look like difficult but not impossible. i think that with the passge of time when bitcoin will become more common and more and moe countires will accept bitcoin as legal currency like japan then we can think about and then it will be possible to use bitcoin as a single currency throughout the world. i think that we can expect it in future when bitcoin will be accpeted by most of the countires of the world.

That is an ideal not the reality, this is not theory as we have the current merging of economies and currency in Europe within the EU they operate the EURO.    This has seen Germany paired to Greece, which has greatly differing economies.  Greece might benefit from tourism where as Germany is an exporter of goods, one of the largest in the world.

Obviously any country can change but its not automatically beneficial for everyone to share exactly the same cost of money via the same interest rates across a large area, different languages and cultures.   Unfortunately I think the EURO does not benefit many countries and Germany sees a lower currency value then they would have otherwise.   As Germany exports the lower value to EURO helps them stay competitive and allows politics to benefit from high employment and ease of business.

Despite appearance one currency only does not create equality.  Its inevitable that every area needs some variance and accommodation to local circumstances.  I'm not a great believer in fixed currency standard like that.  The fixed interest rate operated by central banks such as the ECB is not capitalism, I'd hope crypto currency would do better and that seems likely as no one entity controls the returns on money given in the way that central banks do with FIAT

It is really hard to say how the current crypto currency could have an impact in common world wide using.
The problem to solve is a anonymity, don't understand me wrong... It is as advantage in crypto but in real world people could take loans(if we would use crypto) and then nobody could prove you that you have money to payoff installment. The economy would works better but the law could have a lot of problems. In economy only the price fluctuations would be a challenge.

But the nature of Bitcoin is counteracting the purpose of the government.
The government do not want to have any international currency for worldwide.
So, I think the road growht of Bitcoin still be far, maybe we need to spend few decades is possible.

Nightmare. This would give leverage of the national bank controlling this currency over all other other nations. You can see how it works now for the poor nations which have oil for example - they get delivered "democracy" and can say goodbye to their oil resources. I'm pretty sure in this case situation would be similar.