What will happen if we use a one currency only? - page 5.

Odora

full member

Activity: 266

Merit: 100

Quote from: candra raditya on January 10, 2018, 01:22:56 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

It is not possible if all countries use one currency, many countries will reject it. Each country has its own currency to facilitate transactions, and if using one currency globally it will create chaos in a country's economy.

For now it is very difficult to make a single currency into a currency that is used worldwide, for example EURO used Uni European but each european countries still use their own currency, selfishness still exists in each country ..

coinfast

sr. member

Activity: 508

Merit: 254

Euro was supposed to unify the economies of Europe into one single market but right now they are on chaos after they decided to have one currency. I think everyone could buy goods at low prices, but it may be difficult, because each country has its own language, economic systems, and different resources. So, should more than one type of currency used

swordling143

full member

Activity: 360

Merit: 100

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

It could definitely work. I mean the only problem that I see here is measuring the value of every resources that each and every country has. After all is balanced, it is now easy to use just one currency. It will take time for everything to be stabilized, still it is worth the shot. That's why I think it is a great idea.

danie161

newbie

Activity: 82

Merit: 0

Each country has its own currency to facilitate transactions, and if using one currency globally it will create chaos in a country's economy.This wills also help all the countries to trade independently without paying in other currencies.

jelly19

newbie

Activity: 45

Merit: 0

Can you image having the same food for all human being is good thing? If not, than having a single currency for whole world is also not a good idea which has been repeatedly avoided by developed world nations.

The simple reason (in addition to what Mr. Akash Mane said) is if there is only one currency, than it had to bear the burden of many under-developed economies (and also of some financially defaulted countries like Greece). 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 will be highly overestimated in case of those governments who are just sitting on the couch to gain their salary.

Moreover, a single currency status would be harmful for the markets as well because the Whole gamut of Foreign Exchange (the highest financial market with nearby $5 trillion volume a DAY) will be vanished. The same would also affect some parts of the economy as it would nullify the need of financial sector employees and would generate huge Unemployment.

shezu007

full member

Activity: 336

Merit: 121

if a unique currency acceptance started in the whole world like BTC chances is more. Then user of that currency will get big relief of paying taxes because if you have your own country currency and you want to exchange it in any other country then you will have to pay taxes on that exchanging. While also one currency will make easy the way of online shopping.

Gladz29

full member

Activity: 238

Merit: 101

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

Maybe the value of money it's low.. Because money of one country its depends to other country because every country need an investor. So if different currency it became progressive country.

mamichula

sr. member

Activity: 308

Merit: 253

I'm not from Europe, but did Euro not make it so that a country that's doing bad affected a country that was doing well?

bengca84135120

newbie

Activity: 84

Merit: 0

The world as long as a currency is impossible, if winning control of the money of a single person, does this mean that the person in control of the world economy, other countries in the world will be controlled, so I think this is impossible!

iyan33

sr. member

Activity: 434

Merit: 250

if we talk in bitcoin world we do not muggkin use one currency only because bitcoin can be used all over the world If only used one currency only then level of developing country will increase nyan monetary value and other country will go bankrupt, still have to wear the currency of his own country

cheann20

full member

Activity: 344

Merit: 105

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

Well.. for me, I think it's not good. because the winner will be the one who controls the currency. Very often to heat up the economy using monetary emission. How can this be achieved if other countries are not profitable ..

NightCloudz07

member

Activity: 224

Merit: 10

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

i think it can be great but many countries cannot approve that because they loose their own country currency and more country faith is will be loose.

Allura74

full member

Activity: 546

Merit: 100

Quote from: Advicerabi on January 18, 2018, 03:04:51 AM

I think this will not happen because each country has its own reign and every country already has its own currency. The Government in each country will not allow this to happen, because it would be difficult to determine who would make the currency if we want one currency that means like have one government for all countries.

I think if the whole world has only one currency then there are country's that are benefited and there are others that will degrade. If there is only one currency then those developing country's will level up there country's monetary value using the super power currency so every country's have an equal value of money and it will also affect the trading or importation of goods from one country to another and this will be great disadvantage for those powerful country.

Advicerabi

member

Activity: 210

Merit: 10

I think this will not happen because each country has its own reign and every country already has its own currency. The Government in each country will not allow this to happen, because it would be difficult to determine who would make the currency if we want one currency that means like have one government for all countries.

Lorfarfor

jr. member

Activity: 55

Merit: 10

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

Chaos will be, people are different, different countries, different economies and different prices. And if you enter a common currency, what will happen, it is right to call everything to this currency and this transition will be prolonged for a long time.

ainunfm

full member

Activity: 252

Merit: 100

i think that would be great to hoping like that, but we already have many currency from past like barter but in different way the currency like gold,silver,meat,precious stone and many more has already exist before money

crocozino

sr. member

Activity: 420

Merit: 250

Look if there will no competitor, how can a single currency be used for trading )) so there should be a pair! or we go to barter? Seem unlucky. It will be the end of the world we do know. at least the world we live and know now.
No idea what will happen if the government start to controlling one currency and ban all others, but I guess other currencies will go to the Dark Web. .

virasisog

hero member

Activity: 1820

Merit: 537

Quote from: lelylely on January 18, 2018, 12:52:47 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

It is not possible if all nations use one currency to transact. Every nation has its own currency, they will not easily accept other currencies and turn off the local currency.

Yes, its like our fiat money we have different currency so it isn't possible to have only one currency. Perhaps altcoins and bitcoins is a digital money but as main use bitcoins is one currency that is use by most people who learns cryptocurrency. With this we have bitcoins and we have altcoins in different country in circulation.

lelylely

member

Activity: 588

Merit: 10

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

It is not possible if all nations use one currency to transact. Every nation has its own currency, they will not easily accept other currencies and turn off the local currency.

dogz12

member

Activity: 210

Merit: 15

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

One good effect would be leveling up the buying powers of every country in the world and i think that with this same reason powerful countries would not simply allow this to happen because they cannot enforce dominance over the other.

Topic: What will happen if we use a one currency only? - page 5. (Read 19477 times)