Topic: What will happen if we use a one currency only? - page 2. (Read 4517 times)

If there will be a single currency it will come with advantages and disadvantages both.   It will benefit the local people they will roam any country's without the need to exchange their money in country one.  Their will be no transaction fees imposed.  Banks will go in  loss.  Less interest rate will be there.  Although it may not benefit economy but it will benefit the people.  Talking about its disadvantages,  this will boost confidence of criminals.  They will flew with the illegal money anywhere and start new life.  They can use it for illegal purpose.  For paying terrorism.

i am agree with every country have different value and it is true, there will be a gap for the people in each country and they will live in the country which have many of source so they will use it to earn money. i think its related with the money for them because with the many of source that they can use, they can be able to do many things to make money which is their primary needs to continue their life. and because of this, the country which have power will become more powerfull because they have the source and they have capability to conquer the weak country.

I believe also that it will not result for a productive way for everyone because that is now how the world works. It needs a lot of difference for the world to work well because if the world will have one currency then all of the people will be just equal which is not the best thing to happen since people will not obey the others command if they are just equal at the same level.

If that will happen, there will be no more foreign exchange rate. Each country symbolizes different currency to give distinction. If we have only one currency I guess that would be a long debate to make especially for countries who are very devoted to each and every culture they preserve. There will always be a regulation for that to maintain peace and order. We must always consider the welfare of everybody. If everyone had already adapted with bitcoin and other digital currencies then that would be great. But as I've mention it will take a long debate and understanding.

It is not good and it will not be a good benefits for every country to contain a one currency. Every country have different value when it comes to their monetary. It will not become more productive for everyone.

I think if that'll happen, in terms of manpower, there wouldnt be people who goes on other country to earn dollars. There would be more workers on our country and the people will be served better with those skilled professionals who need to find their living by working on other countries.

I think idea one world one currency is not good, we all know that there is a huge gap between european countries, asia and africa, if this is applied then the third countries will continue to be poor and too dependent on debt.

If that happens that we are only dependent on one currency, I think its not a good idea because there can be no circulations of money value not trading will happen between currencies. That really creates problem in the system, and the value of the entire currency remains the same so you cannot appreciate the advantages of each currency usage like spending and trading it unlike what we are experiencing daily as we encounter if we are trading digital currency fluctuations always a normal scenario of currency when we are buying and selling.

which happens if we only use one type of currency is going to disappear the trade market and the trading will disappear,
because we do not have competition or currency benchmark it ..

It is possible. The world will become better if there is only one currency. Everyone can use mney in any place and regions without any restriction. And there will be no discrimination, racism or war if there is only 1 currency only. Hope that we can see this thing in the far future. Everything is change in order to make the world a better place to live

I'm not professional economist but as i remember from the university it is always better to have many different choices than just one. I mean if will be only one currency in the world it will be centralised as hell. Because most powerfull and rich people will rule it. I dont think it's possible to make just one currency for effective  macro economy.

Trading will be easier but unless you bring external help to some countries they can´t keep up with the prizes. Check the Euro zone. Since countries don´t have currencies to control they rely on external help to try and keep up with the rischest...

The usage of only one currency type all over the world might bring chaos to every nation especially if that currency will be based from one participating country because it literally mean that they have over powered all the nations in the world since the main basis of the world's currency came from them. Not all the countries would allow that to happens that only one country will be recognize to be the strongest country and it would take wars to eliminate and see which country is the toughest among all so it is still better if we will stick on our different currencies and can also use and designated currency but do no claim that it must be the basis of all the currencies in the world.

this is impossible. because every country has its own trade volume. even if we use the same currency, the value of the volume in each country will not be the same. it creates a problem that system.

Actually no matter how I like the idea of Bitcoin, I would not want to have it to be the only currency. Because there are different factors that affects each country's economy and this their currency. If Bitcoin will be used alone, then it will be more volatile.

Yes it is, it will breed corruption poverty and any other inhumane system which degrades people without money. If this happened soon I think it will be the start of deletion of the societal illness involving one's capacity to obtain money to use for themselves I think it will be the start of change since all the products will cost the same and people doesn't need to navigate just to earn much.

The concept of One currency only not possible even if we have how we evaluate the rate of the currency every country has their own policy and their growth of economy deside the value of currencies each country you cannot feed same diet food to the 25 year old to 5 year old and 50 year old person same like that it wont be suitable to any country and the concept has to be dropped it wont work.

Then there can be 2 options. Or there will be  lot of activity in the market for the bitcoin. Or no one will be interested in bitcoin anymore because there probably wont be much money to make from it anymore.

If we only use one currency alone is certainly there are advantages and disadvantages. the benefits are just as we traveled the world we don't need to exchange currency and also do not have to calibrate the price difference. However, the application of the system of the single currency all over the world will take no small change or can be called unfair. especially for the developed countries, there are some benefits with no currency risk in international trade. like China can no longer utilize the exchange value of the currency/currency exchange to cheapen goods in the global market.
 

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.

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.

To sum up, in order to have different delicacies in global environment, generating capacity to pay the hard-workers and punish the weaker economies, together with giving rise to need of Smart Employees, it is better to avoid thinking of single currency.

Hope it helped…..