What will happen if we use a one currency only? - page 37.

burner2014

hero member

Activity: 952

Merit: 515

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

That's very interesting huh. I think that even if we only use one currency I think the price/currency value would still vary depending on the country. It would still have no effect since we have different economic situation especially in money.

X-ray

hero member

Activity: 3066

Merit: 536

Leading Crypto Sports Betting & Casino Platform

Quote from: romero121 on December 15, 2016, 09:44:55 PM

One currency system is not possible other than digital transaction, because each country has its economy based upon currency value. When ever country starts using a single currency the economy of country gets affected based upon the holding of currency. In such instance small countries gets much affected and storing of black money will be easier.

That's right. the wealth country with many natural resource could reserve the big percentage of the money thus they got profit when the value is increased.the rest countries which are poor will only have a little percentage of those money so they will remain to be poor forever. one currency looks good but not possible if this world want to annihilate the poverty

Botnake

hero member

Activity: 2856

Merit: 667

Quote from: sportis on December 16, 2016, 05:26:02 AM

As someone wrote above if we speak about fiat then this would be our financial grave, a real nightmare. Have you ever imagine this case? that would be only one bank and could regulate anything (loans, interests) and so on without gives a penny to their customers?

Only with bitcoins where any user is simultaneously bank and customer; this case would be viable.

One currency that would represent us to connect is good, and for me that is bitcoin. While with fiat, it cannot be possible to use only one currency since we are not living in the same country and we do not have the same culture, though we can unite but we still have disagreements on a lot of things.

sportis

sr. member

Activity: 406

Merit: 252

Veni, Vidi, Vici

As someone wrote above if we speak about fiat then this would be our financial grave, a real nightmare. Have you ever imagine this case? that would be only one bank and could regulate anything (loans, interests) and so on without gives a penny to their customers?

Only with bitcoins where any user is simultaneously bank and customer; this case would be viable.

romero121

legendary

Activity: 3234

Merit: 1214

Vave.com - Crypto Casino

One currency system is not possible other than digital transaction, because each country has its economy based upon currency value. When ever country starts using a single currency the economy of country gets affected based upon the holding of currency. In such instance small countries gets much affected and storing of black money will be easier.

lOvE mE forEvEr

full member

Activity: 238

Merit: 100

This is my dream and a lot of people, I will easily bring money and buy whatever I want in other countries without having to use a calculator to calculate the exchange rate. The best step we must soon realization. I sure many benefits we can take if this world one currency.

OrangeII

hero member

Activity: 2170

Merit: 503

Reward: 10M Shen (Approx. 5000 BNB) Bounty

Quote from: NEWGOODOUBLE on December 15, 2016, 06:05:14 PM

Quote from: Bitcoin0916 on December 13, 2016, 08:20:49 PM

It's a good idea, I think it is very good for equitable world economy. the world can be divided into many countries, but with the existence of a single currency then the world will be merged. Prosperity will be easy evenly so there is no world hard.

nope it will make a mess. What will happen to the stock market, how are people working in trade and so on. I think it uses a lot of currency in each country will be much better and profitable

you are right. besides the currency of each country has a different quality. of course there will be losses and gains in this regard, but, most likely the loss obtained will be greater. Well, a lot of jobs that use the currency different. if everyone uses the same currency, would very much appear unemployed, and the poor state of existing in the world will increase.

eugene265

newbie

Activity: 53

Merit: 0

Good question,I think it will be bad,but why can't say Wink

StevensonCarl

member

Activity: 85

Merit: 10

I think that it would not be good at all due to the fact that the economy all over the world will be ruined without any doubts!!

NEWGOODOUBLE

sr. member

Activity: 476

Merit: 250

Quote from: Bitcoin0916 on December 13, 2016, 08:20:49 PM

It's a good idea, I think it is very good for equitable world economy. the world can be divided into many countries, but with the existence of a single currency then the world will be merged. Prosperity will be easy evenly so there is no world hard.

nope it will make a mess. What will happen to the stock market, how are people working in trade and so on. I think it uses a lot of currency in each country will be much better and profitable

wxa7115

hero member

Activity: 2814

Merit: 734

Bitcoin is GOD

Quote from: Noctis Connor on December 13, 2016, 12:45:02 AM

if its happen there will be no more exchange on our economy on each countries thats why we need to have different currency because it could actually help our country but if we all using us dollars i think we're not into going to US just to have job and get more income because we can work and find a job in our country because we're only using one currency.

The problem with a single currency is that different countries have different necessities that a single currency cannot answer, what if a country needs to print some money but another prefers that country does not? By each country having their own currency then it does not matter if another country wants to print more currency since it will not affect the supply of their own currency.

delliaerd

hero member

Activity: 672

Merit: 500

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

If every nation in the world only use one cyrrency it will be good becouse no one can destroy country economy like happen in 1997 in asean. The other advantage is inflation no more and every market will really fair. But I think the best currency to use is bitcoin or gold becouse government or anyone only can supply it by minning. So no more endless print like fiat that mean the value will more stable.

Bitcoin0916

full member

Activity: 238

Merit: 100

It's a good idea, I think it is very good for equitable world economy. the world can be divided into many countries, but with the existence of a single currency then the world will be merged. Prosperity will be easy evenly so there is no world hard.

jvc12

newbie

Activity: 14

Merit: 0

well if we all down to using one currency well it will be good there will be easy transactions any were you go but in that case it also has it own disadvantage cause there will be no room for currency trading again so the means of getting money will be very difficult it will be only for the few to get money.

Noctis Connor

hero member

Activity: 1008

Merit: 540

if its happen there will be no more exchange on our economy on each countries thats why we need to have different currency because it could actually help our country but if we all using us dollars i think we're not into going to US just to have job and get more income because we can work and find a job in our country because we're only using one currency.

wxa7115

hero member

Activity: 2814

Merit: 734

Bitcoin is GOD

Quote from: Kevin77 on December 08, 2016, 01:15:22 PM

Quote from: Supercrypt on December 08, 2016, 02:14:30 AM

Why not we assume that we have achieved that kind of consensus already. Yes bitcoin must be that one single currency and it is minted by people and has been recognised by people. Then we can also assume we are already in half way to the world of one single currency. With bitcoin I believe it could be possible.

If printing one single currency and distributing properly is the big concern for the concept of one single currency then bitcoin must be the right solution here. Because we have already into a system that satisfying all the criteria and need of one single currency world.

I am also agreeing and not have any doubts that bitcoin is moving towards position of only one currency.

While a lot of people have access to the Internet thanks to smart phones there is also a significant amount of population without access to it so bitcoin cannot be the right solution at this particular point of time because it cannot reach every single person in the planet.

d@nte

hero member

Activity: 490

Merit: 500

Quote from: Shenzou on December 11, 2016, 12:58:19 PM

If the whole word uses one currency than all country will be equal and there will be no poor countries , the thing is economy is controlled by the big guys who owns the international currency which is the usd and in this case the united states , if we say we all use international currency like bitcoin than the smaller and poorer countries won't have to pay a lot when it comes to taxes.

Countries would probably converge to a more similar standard of living, it could be something positive or negative. At the beginning of this there could be problems related to conflicts of interest between nations, in addition, if they continued with the fiat currency system, this would cause more centralization, therefore more problems.

Bitcoinsummoner

hero member

Activity: 1456

Merit: 624

Maintain Social Distance, Stay safe.

Quote from: Shenzou on December 11, 2016, 12:58:19 PM

If the whole word uses one currency than all country will be equal and there will be no poor countries , the thing is economy is controlled by the big guys who owns the international currency which is the usd and in this case the united states , if we say we all use international currency like bitcoin than the smaller and poorer countries won't have to pay a lot when it comes to taxes.

But it is impossible to happen that only one currency we were using.. every country has own currency use. just like here we are just using our currency.
There is different value of those coin.. and there is different rankings of every currency..
If we convert into one currency or only bitcoin we are using it can affect our economy..

Shenzou

sr. member

Activity: 1400

Merit: 283

If the whole word uses one currency than all country will be equal and there will be no poor countries , the thing is economy is controlled by the big guys who owns the international currency which is the usd and in this case the united states , if we say we all use international currency like bitcoin than the smaller and poorer countries won't have to pay a lot when it comes to taxes.

choppork

hero member

Activity: 588

Merit: 500

Quote from: crwth on December 07, 2016, 02:08:51 PM

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.

First, 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.

Disadvantages of it is you can't earn anymore from spreads or just trade to gain profit. No other currencies try to invest, try to use. The printing of it and regulation of the money would be really hard. Producing it and managing it would be hard.

My thoughts on this one.

I think it would be a digital currency if there's only currency which can be converted into fiat form. It would be hard to print a lot of fiat to be distributed in each and every country. If we're to do this, would the government distribute it evenly for each country? Where are the funds would come from? There's a lot of questions that needs an answer but we're not anywhere near this situation so there's no need for us to problematize this. It's still just an idea right now and nothing else. We're simply fantasizing this idea.

Topic: What will happen if we use a one currency only? - page 37. (Read 19529 times)