What will happen if we use a one currency only? - page 40.

KoinKartel

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Quote from: dawnasor on November 02, 2016, 09:53:29 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 that were ever to be the case, then hopefully this 'one world currency' is one that is governed by a system of decentralised issuance - or else we'd all be subject to one mega, monolithic, global, central bank.

Power will be concentrated within this one organisation, and they'll have the ability to do alot of crafty things to further empower themselves at the expense of the rest of the world's population.

However, if this one world currency was (or similar to) Bitcoin, then this may also bring about a fair share of turmoil. Bitcoin is a deflationary currency, which benefits it's earliest adopters - putting them in a position of power over 99% of it's users. Alot of interesting things can be done when you possess more than 20% of a digital currency's entire supply.

In short, a "one world currency" would be disastrous for the progression of economics in general - and will cause alot more harm than you'd naturally expect.

I personally think we are fast on track to a system of "niche currencies." Currencies based on specific markets, uses and functionalities. This is a departure from our current system of 'geo-political currencies.'

bitjoin

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Quote from: AicecreaME on December 05, 2016, 07:06:39 AM

You mean bitcoin when you said "one currency", right? For me it would not be the problem I think, because bitcoin's price is just the same all over the world. But if you were saying that "currency" is real money then I think it would be not also a problem as long as we are always have the same thought about using it fairly. But don't you think that it is a little boring to use only one?, just my opinion.

If we have a 1 fiat currency system it means we have 1 world government which could be very bad unless its some kind of decentralized gov set up. Then if it is decentralized gov set up you wonder why we need money in first place.

AicecreaME

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You mean bitcoin when you said "one currency", right? For me it would not be the problem I think, because bitcoin's price is just the same all over the world. But if you were saying that "currency" is real money then I think it would be not also a problem as long as we are always have the same thought about using it fairly. But don't you think that it is a little boring to use only one?, just my opinion.

bitjoin

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Quote from: dawnasor on November 02, 2016, 09:53:29 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

Using 1 currency would unite the world but the drawbacks could be we still have people at the top holding all the power. We would have no way to compete with the powers at the top this way it seems. I think its better we have multiple cryptos but maybe BTC at 70% dominance.

Bitcoin0916

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I think this is a good idea, one world one currency. So, if this happen I sure increase world economic and nothing poor countries. We know that big problem from poor countries is if they will transactions in the world must use Dollar & euro, so their currency will not accept by other country and make they depend with Dollar or euro.

epitome

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Quote from: towrenting on December 05, 2016, 06:34:18 AM

Quote from: epitome on December 05, 2016, 06:32:36 AM

Quote from: dawnasor on November 02, 2016, 09:53:29 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

You can call bitcoin and all the other crypto currencies as global currencies as they don't belong to any bank or government .Basically we have over 180 legal currency tenders accepted world wide.But a single fiat currency for the entire globe is not a possibility

Well all of our entity would become one.. language political system and army..chaos i think..

Language political system and army joining forces .Are you aware of the current affairs and the situation in which we are living or just bluffing Cheesy

.These things are impossible no matter which dictator takes over and rule the world,these things are just a fantasy

towrenting

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Quote from: epitome on December 05, 2016, 06:32:36 AM

Quote from: dawnasor on November 02, 2016, 09:53:29 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

You can call bitcoin and all the other crypto currencies as global currencies as they don't belong to any bank or government .Basically we have over 180 legal currency tenders accepted world wide.But a single fiat currency for the entire globe is not a possibility

Well all of our entity would become one.. language political system and army..chaos i think..

epitome

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Quote from: dawnasor on November 02, 2016, 09:53:29 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

You can call bitcoin and all the other crypto currencies as global currencies as they don't belong to any bank or government .Basically we have over 180 legal currency tenders accepted world wide.But a single fiat currency for the entire globe is not a possibility

Betwrong

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Quote from: nara1892 on December 05, 2016, 04:59:46 AM

Quote from: snipie on November 02, 2016, 11:55:18 AM

Using a single currency will be a disaster if we talk only about Fiat because how could anyone supervise it, i mean a country could print an extra amount so...
But if you talk about cryptocurrencies including bitcoin then yea it is a good idea.
Aren't we using the same money (BTC) while we are from different countries? Wink

bitcoin is one of global currency, but it is not used by all people alive. so it is not part of the question.

in my opinion, if there is only one kind of currency that is used by all people around the world, there will be no poor countries like Zimbambwe. because no inflation between one currency with another.

It is not so simple. Actually there is no such thing as a "poor country" where everybody is poor. Take Zimbabwe for example. There many very rich people there, people who have much more money than most of the Americans. Take a look at the list:

http://nehandaradio.com/2015/05/24/top-50-richest-people-in-zimbabwe/

So even if Bitcoin becomes the only one global currency that will change nothing fo rthe poor. Rich people will collect most of the coins and the poor people will be left with nothing once again.

nara1892

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Quote from: snipie on November 02, 2016, 11:55:18 AM

Using a single currency will be a disaster if we talk only about Fiat because how could anyone supervise it, i mean a country could print an extra amount so...
But if you talk about cryptocurrencies including bitcoin then yea it is a good idea.
Aren't we using the same money (BTC) while we are from different countries? Wink

bitcoin is one of global currency, but it is not used by all people alive. so it is not part of the question.

in my opinion, if there is only one kind of currency that is used by all people around the world, there will be no poor countries like Zimbambwe. because no inflation between one currency with another.

Xester

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Quote from: pinkflower on December 05, 2016, 02:47:32 AM

Quote from: dawnasor on November 02, 2016, 09:53:29 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

Then I ask you, who controls and distributes this currency? A group of the worlds biggest banks? If thats the case then the world will be worse than it is today because they will manipulate the world's boom and bust cycles by using monetary control. In that world will come a programmer who will use the screen name Satoshi Nakamoto and invent a better type of currency.

Just like banks manipulate fiat currency having bitcoin as the only currency in the world is a dilemma. It will mean one person dominating the whole world financial system and could dictate how financial system works. If that person who has control over all has sympathy to people the it will be advantageous but if he is ruled by greed then it is a mess. We will all suffer and the elites will smile and look down on us.

pinkflower

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Quote from: dawnasor on November 02, 2016, 09:53:29 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

Then I ask you, who controls and distributes this currency? A group of the worlds biggest banks? If thats the case then the world will be worse than it is today because they will manipulate the world's boom and bust cycles by using monetary control. In that world will come a programmer who will use the screen name Satoshi Nakamoto and invent a better type of currency.

X-ray

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Quote from: Rizky Aditya on December 05, 2016, 02:37:10 AM

Every country would be arguing with each other on how to control the currency and it would be a huge mess. That's why w it would never work and each country should have their own currency that they can control.

It would also ruin the point of Bitcoin because there would be no more decentralization because people would be fighting over control of it.

If there's only one currency in this world then no country could take control over it but all countries will be unite and making an organization to control it with and each country will have their representation on deciding anything. things work like democration and every move will be decided with voting
i guess that's what is going to happen if the world only have one currency

zero1ten

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That would be very beneficial to ordinary people because there would be no inflation on currencies and the value of money will remain the same and that would mean a better purchasing power across all social status, not just the rich people.

Zadicar

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Quote from: coin-investor on December 05, 2016, 02:33:34 AM

Quote from: dawnasor on November 02, 2016, 09:53:29 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

You mean not a crypto currency but a fiat money?I doubt if this is possible it will not unite people,because people are fighting for their own ideology and religious and each one to to impress one's belief to another.

Is it possible for a christian to use a money with words and symbols of another religion and vice versa?

I dont think that theres a religion involve on printing out on fiat money. Maybe on the culture but not on religion itself. Having one currency will really make trouble because countries will surely accumulate and get more money since it will surely symbolizes the power of a particular country and this war or scenario would never end. Beliefs and culture do really differ and making one currency will surely create a big debate from all leaders of the world.

Rizky Aditya

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Every country would be arguing with each other on how to control the currency and it would be a huge mess. That's why w it would never work and each country should have their own currency that they can control.

It would also ruin the point of Bitcoin because there would be no more decentralization because people would be fighting over control of it.

coin-investor

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Quote from: dawnasor on November 02, 2016, 09:53:29 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

You mean not a crypto currency but a fiat money?I doubt if this is possible it will not unite people,because people are fighting for their own ideology and religious and each one to to impress one's belief to another.

Is it possible for a christian to use a money with words and symbols of another religion and vice versa?

buwaytress

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Quote from: yayayo on November 02, 2016, 12:03:57 PM

Quote from: dawnasor on November 02, 2016, 09:53:29 AM

What do think if all nation use only a one currency?, What happen to our world?, What the effect of the nation's economy?, It can make people's start to work each other without competing others?Any opinion. Cheesy

I think the overall effect on the world economy will be positive, because international trade is greatly facilitated - especially if all nations use a easily transferable and decentralized currency like Bitcoin. There will be significant differences regarding the extent to that specific countries will profit from a one world currency.

In general, competition will increase, because market access is facilitated for all countries. This most likely will result in lower prices for many products and services. The countries that will be able to produce cheaply will see the most positive impacts - regardless if cheap production is achieved via automation or low labor costs. In my view, developing countries might profit the most from Bitcoin as a one world currency, because labor costs tend to be low and many smaller businesses in these countries will have improved possibilities to offer their products on the international marketplace.

ya.ya.yo!

Quite agree that in the broadest economic sense, single currency systems are beneficial and bring the fastest growth to the least developed countries. This was the vision for regional currencies like the Euro and proposed mena currency (dinar).

Inevitably, the richer nations later air these grievances as they feel smaller nations develop at their cost (euro skeptics please feel free to pop in).

MingLee

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Quote from: Roger Burton on November 05, 2016, 01:19:33 PM

It will create a huge disaster. You can use the same currency in the whole world so you don't have to change it every time in another currency, but the price of that currency will fall down and it can make new wars about whom will control the currency. I think it's better each country has different currencies because first it will makes it different from another( I mean that each country will have their own ''personality''), and also will make the people understand that they can make their currency more important for the world.

It would be pretty easy to do something where there is a single, permanent controller of the currency, there is no need to move it around or have it set up where a country controls it as an entity. For example, with the Euro, they have a single bank that maintains most of it. It isn't split between countries or controlled by a country, it is (technically) a state-less entity that exists and does its thing.

stark101

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The simple reason is if there is only one currency, than it had to bear the burden of many under-developed economies. Hence, the value of that currency would be highly undermined in terms of the performance of those economies which are struggling hard to maintain their status while the same value be highly overestimated in case of those governments who are just sitting on the couch to gain their salary.

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