What will happen if we use a one currency only? - page 29.

JoMarrah Iarim Dan

sr. member

Activity: 644

Merit: 252

Quote from: dawnasor on November 02, 2016, 08:53:29 AM

[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. Cheesy

Every nation use only money as the currency. But there are different currencies for every different countries. There are US dollars, European euros, Australian dollars, British pounds, Philippine peso. If you're in the Philippines you must have Philippine peso but that Philippine peso has no value when it comes to US, Australia, Britain, and Europe. You must change or convert it to the currency of the country you are going to. If it happen that there is only one currency for all different countries like bitcoin, that's great. Anywhere you go you can use your bitcoin and you will not convert or change it. Maybe the country that has not so progressive economy will have a hard time to cope up with countries that have a very progressive
economy like Philippines and US.

gracia0023

full member

Activity: 140

Merit: 100

If we will use one currency only, the value of money around the world will be the same. If that happen, more people do not have to go to other countries to work. Meaning, long distance relationships will be eliminated. There will be no inflation and deflation of currencies because all currencies are equal. The idea of having centralized currencies is interesting but it must undergo in careful and properly discussions and deliberations of all countries and clear set of rules and regulations must be formulated before launching it.

qiman

hero member

Activity: 1036

Merit: 504

The Elites will control us 100% and we will be ultimate slaves. Only a decentralized currency would work but even then, with only one currency there will be no trading and much profit will be watched. I doubt this will ever happen.

ufaiz50

hero member

Activity: 1666

Merit: 502

Quote from: Maslate on June 21, 2017, 11:33:14 PM

Quote from: HaXX0R1337 on June 21, 2017, 06:17:32 PM

Quote from: passionsurf on June 21, 2017, 02:51:04 PM

If the world only uses one currency, then we should choose alcohol. Or maybe sugar. But probably alcohol.

So you think we will be the starting the old barter system once again Grin

,that is hilarious ,it is not possible to go back to century old custom and it is not possible to accept a single currency world over,the economic structure could not work like that,but bitcoin is used as a global virtual currency,how about that,what more do you need. Grin

Single currency means there is a unity universally, that wouldn't be possible as every country is represented with a leader.
People are greedy, it will not happen, in fact countries do compete to prove who is the biggest and the strongest.

all countries are competing on who is strongest and it doesn't make sense to use one currency as the world's currency and bitcoin itself has altcoin to compete. all people have different thoughts or personalities if to be forced to be the same is very unlikely.

Maslate

hero member

Activity: 2954

Merit: 672

Message @Hhampuz if you are looking for a CM!

Quote from: HaXX0R1337 on June 21, 2017, 06:17:32 PM

Quote from: passionsurf on June 21, 2017, 02:51:04 PM

If the world only uses one currency, then we should choose alcohol. Or maybe sugar. But probably alcohol.

So you think we will be the starting the old barter system once again Grin

,that is hilarious ,it is not possible to go back to century old custom and it is not possible to accept a single currency world over,the economic structure could not work like that,but bitcoin is used as a global virtual currency,how about that,what more do you need. Grin

Single currency means there is a unity universally, that wouldn't be possible as every country is represented with a leader.
People are greedy, it will not happen, in fact countries do compete to prove who is the biggest and the strongest.

HaXX0R1337

sr. member

Activity: 574

Merit: 252

Quote from: passionsurf on June 21, 2017, 02:51:04 PM

If the world only uses one currency, then we should choose alcohol. Or maybe sugar. But probably alcohol.

So you think we will be the starting the old barter system once again Grin

,that is hilarious ,it is not possible to go back to century old custom and it is not possible to accept a single currency world over,the economic structure could not work like that,but bitcoin is used as a global virtual currency,how about that,what more do you need. Grin

tigershark

full member

Activity: 223

Merit: 100

Quote from: dawnasor on November 02, 2016, 08:53:29 AM

[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. Cheesy

The answer really depends on who controls the currency. The US dollar is controlled by the US government so they can print more money if they want to control it by reducing the value per dollar. I don't think a world currency could work if one government had all control.

I think the only way it would work for all the world to use a standard currency is if it was decentralized like bitcoin or was regulated by a group of nations together.

Hutalar

sr. member

Activity: 420

Merit: 250

Quote from: hurain on June 21, 2017, 04:17:12 PM

Quote from: Theb on June 21, 2017, 10:20:57 AM

I don't think that is a good idea because one nation can affect the rest of the countries in terms of economy, for example the minimum wage of another country is much bigger than the rest of the countries because of the standard of living. Also it can be vulnerable to crimes because a syndicate can target one country that has a weaker national security in which they can steal all of their national budget in their own ways.

to me i think it is a good idea, because bitcoin is going to compel all the people of the world to use the one and the only currency and that is bitcoin, i think it will be really in favour of all the people of the world to use a single currency through out the world.

If there will be only one currency used all over the world then it is possible that the facilities to all of the countries will also come to a same level then there will not be able issue of different wages. All of the people will be connected to each other through that currency and that currency will also increase high up.

hurain

sr. member

Activity: 462

Merit: 250

Quote from: Theb on June 21, 2017, 10:20:57 AM

I don't think that is a good idea because one nation can affect the rest of the countries in terms of economy, for example the minimum wage of another country is much bigger than the rest of the countries because of the standard of living. Also it can be vulnerable to crimes because a syndicate can target one country that has a weaker national security in which they can steal all of their national budget in their own ways.

to me i think it is a good idea, because bitcoin is going to compel all the people of the world to use the one and the only currency and that is bitcoin, i think it will be really in favour of all the people of the world to use a single currency through out the world.

bitcoin31

hero member

Activity: 1834

Merit: 523

If we have only one currency I think theres no trading and the price will not increase high because the trading or altcoins helpful because for example the trader want to buy altcoin so they buy bitcoin to buy altcoin and the price start increasing.

John Wick

full member

Activity: 232

Merit: 100

Quote from: Theb on June 21, 2017, 10:20:57 AM

I don't think that is a good idea because one nation can affect the rest of the countries in terms of economy, for example the minimum wage of another country is much bigger than the rest of the countries because of the standard of living. Also it can be vulnerable to crimes because a syndicate can target one country that has a weaker national security in which they can steal all of their national budget in their own ways.

Here you miss something, you say one nation can't handle all the burden. That's right but in bitcoin there is no nation. We're all united, aren't we? So bitcoin can do this in future.

passionsurf

hero member

Activity: 546

Merit: 500

If the world only uses one currency, then we should choose alcohol. Or maybe sugar. But probably alcohol.

ImHash

hero member

Activity: 924

Merit: 506

Expecting people to use only one currency is like our current situation, could you expect people to just stick to bitcoin and never use any other coin? if seriously you can find a way to unite all of us to just use bitcoin and no other coin whatsoever then better spell it out.
Even with a global effort and all the countries and nations agreeing on adopting a single unit of value as a global one currency there will be people using their own money, moreover with cryptocurrencies in the play, I'm assuming all the new world order plans for one world currency is ruined Cheesy

Theb

hero member

Activity: 1680

Merit: 655

I don't think that is a good idea because one nation can affect the rest of the countries in terms of economy, for example the minimum wage of another country is much bigger than the rest of the countries because of the standard of living. Also it can be vulnerable to crimes because a syndicate can target one country that has a weaker national security in which they can steal all of their national budget in their own ways.

megynacuna

sr. member

Activity: 756

Merit: 253

Quote from: Rinder on June 20, 2017, 08:41:07 AM

It wont happen at all, there is bilions of money all days over forex, and each country does take advantage from others weak currencies, bitcoin hasnt power neither supply to remove any currencie, because countries wont let it happen. Soo imagine bitcoin without altcoins, it just doesnt make sense.

I agree with you,Arbitrage trading will be abolished if we maintain a single currency globally and so those marginal traders and financial investors who make their monies from loopholes in various currencies on the Forex market will indeed resist such an attempt but we shouldn't totally say it's impossible because it's actually been predicted in the holy Bible.

RedX

sr. member

Activity: 364

Merit: 250

Quote from: crazycatwoman03 on June 20, 2017, 08:36:27 AM

We all know that currencies represents their designated countries. For example is US dollars for America, Yen for Japan, Euro for European countries, Baht for Thailand and etc. if we are going to use a single currency for all the countries in the world. Money exchange or money conversion will not be needed anymore. Using a single currency would be less hassle in buying, selling, paying or for any money transactions done online.

It will be beneficial but I also think that if this will ever happen in the future, there would be many talks, meetings and things needed to be done before the implementation or application.

Maybe crypto currency like bitcoin has a big chance to be the only currency that will remain in the future. Bitcoin’s characteristics are best suited for online transactions but just like what I have said. There are many things needed to be done before something like that happens.

Investors and people with large businessess will not let this happen. They will unite to sustain their selfishness and greediness. They are the ones who take advantage of multicurrencies and many of them hold half of the worlds businessess. So that means it's impossible.

bestluck

hero member

Activity: 658

Merit: 500

Quote from: dothebeats on June 17, 2017, 09:07:52 PM

One currency means one world government since it will be a very improbable event that the UN will introduce a currency and the government would obey. If that wkuld be the case, we would be going back to the times when trading is still a thing: rice, wine, gold etc would be the main currency if in case. Gold and silver would also be one of the main currency too.

To take a step or to change your future can be a huge step where everyone cant do if some people are using simple currency and suddenly you ask then to change their currency to another or just simple to switch to another currency could be a very huge step as it is. But to start using something good and learning something less profitable could also be a good decision as if the whole world uses only one currency then all country will be something economy will be under control by who own the international currency in this case the united case states , if all people use some currency the opposite countries would not compel to pay large taxes so I guess its good for all.

Rinder

hero member

Activity: 868

Merit: 500

It wont happen at all, there is bilions of money all days over forex, and each country does take advantage from others weak currencies, bitcoin hasnt power neither supply to remove any currencie, because countries wont let it happen. Soo imagine bitcoin without altcoins, it just doesnt make sense.

crazycatwoman03

sr. member

Activity: 588

Merit: 250

We all know that currencies represents their designated countries. For example is US dollars for America, Yen for Japan, Euro for European countries, Baht for Thailand and etc. if we are going to use a single currency for all the countries in the world. Money exchange or money conversion will not be needed anymore. Using a single currency would be less hassle in buying, selling, paying or for any money transactions done online.

It will be beneficial but I also think that if this will ever happen in the future, there would be many talks, meetings and things needed to be done before the implementation or application.

Maybe crypto currency like bitcoin has a big chance to be the only currency that will remain in the future. Bitcoin’s characteristics are best suited for online transactions but just like what I have said. There are many things needed to be done before something like that happens.

hurain

sr. member

Activity: 462

Merit: 250

Quote from: panganib999 on June 17, 2017, 08:55:48 PM

Quote from: Sled on June 17, 2017, 08:48:51 PM

It depends on what type of currency we are going to use. If we will use cryptocurrency as one currency only then it will end up rising very high because of the demand of all the people around the world and there is no organization or any type of government that will take control of cryptocurrency so it is a good option but the downside is the limited supply while if we will use fiat currency as one currency only then there will be no such thing like pump and it is like the traditional money that we have right now.

I think that is impossible, because if we use only one currency there will be exchange there will be market abnormality because our market system need other currency to apply the demand and supply law so I think the market system will be ruin if that will happen.

why not possible? in fact we are going to toward that, bitcoin is the best example for that, i am sure that very soon bitcoin will be the only currency in future that will be use by all the people of the world, because bitcoin is a universal currency and is almost used by everyone in the world having same value everywhere.

Topic: What will happen if we use a one currency only? - page 29. (Read 19529 times)