Topic: What will happen if we use a one currency only? - page 7. (Read 4517 times)
I don't quite get your main point here. But I will just focus on your subject. Actually, right now, we have a world currency which is basically a default, a kind of de facto world currency. And it is the US dollar. It is much better this way. Each country will be making their own versions of fiat money because they have their own set of monetary laws and regulations. But when it comes to the larger stage, we have a common ground.
Huge thing will happen if we only use one currency, Inflation is gonna raising very easy and the whole world will be effected of it. In the last few years, your country can be dogde the inflation cause to the unique currency of your country. But if this happen there not gonna happen like that again. You have to be undergo that dominating of inflation too.
that will be a huge problem for us and one of those that surely will happen is destabilization. Since we will live in a world where one currency is only accepted, i think most commodities will become unstable to the point everyday it changes prices.
for example if we use the dollar it will certainly be bad news to see the habits of the corruptors in Indonesia, they will never do small corruption. What if they later corrupted $ 50 million or even $ 1 billion. Countries will be dizzy to tackle such corruption cases. that is if we use only one currency, for example the dollar currency
I think you are looking to much about the negative things that people do, I think having a single currency around the world will just show and encourage equality. Using one currency brings convinience as well, you can use the money that you are holding anywhere in the world without having the trouble of exchanging them.
for example if we use the dollar it will certainly be bad news to see the habits of the corruptors in Indonesia, they will never do small corruption. What if they later corrupted $ 50 million or even $ 1 billion. Countries will be dizzy to tackle such corruption cases. that is if we use only one currency, for example the dollar currency
Going toward using bitcoin only will be a great step in the fight against corruption and bribing specially . There will be no more money to be given in cash secretly to a certain person that fills a high governmental place and such calamities will be traceable and could be used as an evidence in court to sue people for their crimes . I am still trying to wrap my head around the possibilities of that, considering securities of the fund, who manages the account and how honest the body is, and even if they monitor the disbursement of fund from one party to the other using the transaction hash, until how many tree will they successfully do that ?
Probably someone with a better perspective can help out in this situation.
Global currency isn't good. Each country must have its own sovereignty, what means own currency, own culture, own laws, etc... Global currency smells globalism and that only standardizes the nations and the individuous. It's good to have lots of possibilities to use as currencies, if one goes wrong you can left it anytime to use another one.
for example if we use the dollar it will certainly be bad news to see the habits of the corruptors in Indonesia, they will never do small corruption. What if they later corrupted $ 50 million or even $ 1 billion. Countries will be dizzy to tackle such corruption cases. that is if we use only one currency, for example the dollar currency
Going toward using bitcoin only will be a great step in the fight against corruption and bribing specially . There will be no more money to be given in cash secretly to a certain person that fills a high governmental place and such calamities will be traceable and could be used as an evidence in court to sue people for their crimes . I am still trying to wrap my head around the possibilities of that, considering securities of the fund, who manages the account and how honest the body is, and even if they monitor the disbursement of fund from one party to the other using the transaction hash, until how many tree will they successfully do that ?
Probably someone with a better perspective can help out in this situation.
for example if we use the dollar it will certainly be bad news to see the habits of the corruptors in Indonesia, they will never do small corruption. What if they later corrupted $ 50 million or even $ 1 billion. Countries will be dizzy to tackle such corruption cases. that is if we use only one currency, for example the dollar currency
Going toward using bitcoin only will be a great step in the fight against corruption and bribing specially . There will be no more money to be given in cash secretly to a certain person that fills a high governmental place and such calamities will be traceable and could be used as an evidence in court to sue people for their crimes . I am still trying to wrap my head around the possibilities of that, considering securities of the fund, who manages the account and how honest the body is, and even if they monitor the disbursement of fund from one party to the other using the transaction hash, until how many tree will they successfully do that ?
Probably someone with a better perspective can help out in this situation.
The idea of us globally using one currency is great however with that would come a whole list of other problems. The rich would get richer and the poor poorer. Any form of trading would end.
for example if we use the dollar it will certainly be bad news to see the habits of the corruptors in Indonesia, they will never do small corruption. What if they later corrupted $ 50 million or even $ 1 billion. Countries will be dizzy to tackle such corruption cases. that is if we use only one currency, for example the dollar currency
It is better when we have one currency to all the world because all is going easy and quick process of all transaction especially for paying bills.Because no need to go to the money changer.Also all transact must be done all in computer and any kind of electronics processing.Its very easy to use,Thats why they are implementing BoiChips for the world processing and a one world goverment for one authority and power.
You are right about it being better, but the truth is it will never happen. There are always going to be multiple currencies and we need to accept this fact.
With that said, it is possible there could be one universal cryptocurrency from which all others trade/rely on such as Bitcoin or Ethereum. You can trade any coin/token using that "parent" one.
It will not only decrease the trading problems but also unite people. We all will be at one level but I think governments won't let it happen.
This will be possible if every leaders will agree and unite together to make this.
corruption has always existed and will continue to be the same, without the difference, one currency or several
for example if we use the dollar it will certainly be bad news to see the habits of the corruptors in Indonesia, they will never do small corruption. What if they later corrupted $ 50 million or even $ 1 billion. Countries will be dizzy to tackle such corruption cases. that is if we use only one currency, for example the dollar currency
It is better when we have one currency to all the world because all is going easy and quick process of all transaction especially for paying bills.Because no need to go to the money changer.Also all transact must be done all in computer and any kind of electronics processing.Its very easy to use,Thats why they are implementing BoiChips for the world processing and a one world goverment for one authority and power.
You are right about it being better, but the truth is it will never happen. There are always going to be multiple currencies and we need to accept this fact.
With that said, it is possible there could be one universal cryptocurrency from which all others trade/rely on such as Bitcoin or Ethereum. You can trade any coin/token using that "parent" one.
It will not only decrease the trading problems but also unite people. We all will be at one level but I think governments won't let it happen.
This will be possible if every leaders will agree and unite together to make this.
I think if we only use one currency worldwide, there would be unanimity of economic activities in the sense that trade and commerce will be based only on one value. Although the said situation highly encourages obnoxious circumstances, it may have good effects in terms of supply and demand. Nonetheless, like all other things, it has it own pros and cons.
for example if we use the dollar it will certainly be bad news to see the habits of the corruptors in Indonesia, they will never do small corruption. What if they later corrupted $ 50 million or even $ 1 billion. Countries will be dizzy to tackle such corruption cases. that is if we use only one currency, for example the dollar currency
It is better when we have one currency to all the world because all is going easy and quick process of all transaction especially for paying bills.Because no need to go to the money changer.Also all transact must be done all in computer and any kind of electronics processing.Its very easy to use,Thats why they are implementing BoiChips for the world processing and a one world goverment for one authority and power.
You are right about it being better, but the truth is it will never happen. There are always going to be multiple currencies and we need to accept this fact.
With that said, it is possible there could be one universal cryptocurrency from which all others trade/rely on such as Bitcoin or Ethereum. You can trade any coin/token using that "parent" one.
It will not only decrease the trading problems but also unite people. We all will be at one level but I think governments won't let it happen.
Both of you say that using just one currency will bring corruption but neither of you say why and I can’t see the reason. Could you elaborate more? Corruption has always existed and it doesn’t matter if there is one currency or more, there will always exist. Apart from that, the fact that only one currency is legal worldwide doesn’t mean that people cannot start using other currencies, for example, small gold coins. Cryptocurrencies are another example.
I thoroughly agree with you, they should have stated the reasons. As a matter of fact, corruption has always been on earth since the beginning of mankind. Added to that, corruption is derived from greed, thus from the seven deadly sins. In other words, if the world depended on one currency, there would always be corruption no matter what the case it. And as long as there are corrupted people, corruption will remain because it is like a virus that is spreading throughout your body. A single world currency would make international trade easier, but would subject all countries to a single macroeconomic policy. That could have the advantage of enforcing more fiscal discipline and honesty among governments, but the disadvantage of preventing central bank from intervening in markets. Personally, I’m not a fan of central bank interventions, so I would not be sorry to see a global currency, except that I think it’s politically unworkable and thus would be a disaster. A practical global currency requires a lot more international cooperation and transparency than we have today.
Never be. Currency created for the country's economy. Each state has its own structure of the economy. In order to develop the state stimulates some sectors of the economy through its monetary policy. All States have different interests and will never achieve consensus in a common currency. 
One currency system is simply hard to think about, because every country has different economic situation and when the single currency system is implemented automatically a diversification of the asset is a must. This creates a discrimination and country's won't accept the same.
A single world currency would make international trade easier, but would subject all countries to a single macroeconomic policy. That could have the advantage of enforcing more fiscal discipline and honesty among governments, but the disadvantage of preventing central bank from intervening in markets. Personally, I’m not a fan of central bank interventions, so I would not be sorry to see a global currency, except that I think it’s politically unworkable and thus would be a disaster. A practical global currency requires a lot more international cooperation and transparency than we have today.
This is something near to impossible to happen. I don’t think so that this thing will ever happen. Almost every country is using its own currency and there seems no reason to leave behind your own currency just for the sake of some other currency.
As much as we cannot predict what the future holds, but there are some things that glaringly seem impossible and that includes having a unified global currency. Do you know why every country decided to stay independently with their own currency ? Who will be in control of the unified currency and how will it be distributed. If what the OP is thinking is having bitcoin as a currency globally, then I guess he should wake up now and stop dreaming.
for example if we use the dollar it will certainly be bad news to see the habits of the corruptors in Indonesia, they will never do small corruption. What if they later corrupted $ 50 million or even $ 1 billion. Countries will be dizzy to tackle such corruption cases. that is if we use only one currency, for example the dollar currency
I think if we use only one currency the overseas workers will not need to work on abroad. The high possiton at the certain company will high payment. Maybe no more currency trading because of only one currency. Thats for me. But I dont know the effect about world economics.
Going toward using bitcoin only will be a great step in the fight against corruption and bribing specially . There will be no more money to be given in cash secretly to a certain person that fills a high governmental place and such calamities will be traceable and could be used as an evidence in court to sue people for their crimes .
And that's also why it's not likely, even if just for that point, everyone is looking after their own best interests. Those that don't care for all their movements to be easily tracked would tend to gravitate towards crypto that offers better privacy options.
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