Bitcoin Forum

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

Unification of currency will breed corruption, chaos, greater poverty, hardship, backwardness. Is just like narrowing it down to communism and communism thrives more in an indigenous society and not heterogeneous. It will breed chaos. This my view anyway.

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 think it'll be easier, since all of the countries will be using one currency, so trading will be easier than now. cheers brother !!

this currency should have a lot of feature that are probably un-realizable:
- infinite and illimitate supply (you need to serve all world!)
- probably to be adopted online this currency need a sort of blockchain
- be clear (cyrillic? latin letters? suggestion?) from taiwan to seattle, passing from paris and jakarta. (this is not easy at all).
- who will issue this? who have the right to print this new currency?
No I don't think it's possible use only one currency for only one planet :)

Having once currency would be also a good way on resolving those issues but i would bet that not all countries would really allow this thing to happen specially US dollars have been used,in this case we are all in the power of US government since their currency is being used and countries wont really like for this thing to happen this is why we do see lots of currencies because i do believe that their own monetary unit signifies its power.

In my opinion, one currency will have one world, one government and there will be no freedom. Everything is in uniformity. Boring and monopolized.

One currency is a centralized paradigm.

Centralized paradigms are very similar, possibly identical to monopolies.

Monopolism could restrict innovation, advancement and progress.

An example of a centralized paradigm or monopoly is the telecommunications monopoly that existed in the united states until the 1980's. It wasn't until after that monopoly was broken up that real progress in the industry was made in the form of push button phones, cell phones, cheaper long distance calls, lower monthly phone bills.

When one currency has control of the entire market, there's no need for it to improve or grow.

Advancement typically comes from competition such as AMD vs intel. If either AMD or intel had a monopoly over the market for the past 10 years there's no way chips would have advanced or innovated as much as they have. Competition and progress tend to be found together.

Also monopolies and centralized paradigms are correlated with exploitation and unethical business practices. One currency is similar to pharmaceuticals in the healthcare industry which raise their drug prices 1000% due to them being the only drug on the market.

There would be a few benefits with using one currency such as reduced transaction costs and greater price transparency but the main issue lies in the fact that different regions have different economies and any shocks to these economies need to be accounted for in terms of changes to supply/demand/price. In the case of their being only one currency it would take far longer for these changes to occur which could lead to greater unemployment. I think that is the jist of it, we did a short paper on it in class a few years ago.

It'll be bad. If one country screws up their economy, it'll influence the rest of the world very hard. I don't remember the exact term, but extreme inflation is a thing, and can screw things up pretty badly. Countries likes to be in control of their own economy, that's why using Euros isn't always as popular.

No matter the currency, corruption will be always here. Having only one currency won't change anything or if it does it's only about to increase it. Since it makes it easier. Big firms, for example, are able to corrupt in any currency, in any language, in any country...

On another side, if the only currency is Bitcoin, it can help to fight the corruption. For example, when the population pays the taxes, we could see for what purposes the money is used and where it goes, since transactions are public.

1Taxes4eg5rcr82HmO4KhjhatBvf        ===> 1Health4dezrfHolrcelojJHfhkjh5sSlmsS (address for the social security/health)
                                                          ===> 1Edu4PjJ5Quht9jugtyrFno69fegvDRGH (address for school/program education)
                                                          ===> 1Infra4khftd2fyui7nuyt4dftyhYgyu15ni (address for  infrastructures: roads,etc...)
                                                          ===> 1Social54rftgre5rtgg78KIRgijsdcde4rgr (addresss for social help, families...)

This will creat chaos in very short period of time because equalising the currency means there will be no upward or downward velocity for the trades and investment or to the price of things that we buy with it. The equalisation will just make it very challenging to operate in all the countries because the most powerful country in the world might just take more authority over regulating it. They might show off their power and may restrict different countries with its use and this will generate poor operations. Look like aftermath won't be very thoughtful in this regard and equalisation of currency.

If we will use one currency only, it has an advantages and disadvantages.  Some of the advantages of it is the value of currency all over the world is equal so, there is no need to go to other country to be able to earn more money because the value of money in other country is much higher compared to the value of money here in the Philippines  (ex: peso vs dollar).  If you want to go to other country, you do not need to look for money changer because everybody use the same type of money. Some of  he disadvantages of this is the possible effect on those people who invest in foreign exchange and stocks.  If all currency is equal meaning the value of money is the same.  So the foreign exchange will be useless.  That is a bad news for those people who earn through investing to foreign exchange. 

This used to be the case, not anymore in a post-bitcoin environment.

If all governments on the planet somehow arrived at the (logical) conclusion that it's better to have bitcoin as a global currency, everyone would be operating under the same rules and more bullshit would go on as we have seen with fiat currencies, but governments will never give up on the control of their currency, they will never willingly accept and open source, decentralized currency as the rules of the game, they want their own rules, in other words, closed source and centralized, this is why BTC will either remain as digital gold and a global neutral currency thanks to Lightning Network or if people all over the planet reject fiat and accept BTC only then they will be forced to give up and BTC will be everything. Both scenarios in the long term will make long term holders rich anyway.

You are thinking only the exchanger's loss. if it happens then the entire world financial system will change and suppose USD become universal currency all country financial system information will be available in the USA. This no country can accept because it will affect their country economy and many legal issues will occur. The idea is good, but the implementation is very tough.

For me if we use one currency all people to all the world will understand each other through electronics devices and all transactions to all the world.This is also for easy communications and others for quick transacting to all over the world.And all countries will unite also for the one world goverment.

Using only one cryptocurrency would be really bad, because they are all different and solve different problems. However using one real currency, is better. Dollar is pretty much a universal currency already. I think many smaller countries with bad economies would rather use dollar than their country's currency which often has insane inflation.

its impossible to happen mate, people or government around the world will not accept this they will still continue using their own fiat as a symbol of their
independence and controlled over their people, one currency means that everyone can easily transact to anyone without a trace coming from the government
who handle them.

I love the idea but i can still see flaws regarding on this one.Who would be the one to handle those wallets? Who are on the possesion on its access? I bet that argument would really be long for sure.Not all governments on the world wont do nothing about on having the control of such wallet for sure they would really aim on having the power. I do see chaos on this centralization on all the funds.

Corruption is always there especially if the government are involved with huge lump sum of money involved, so either we are using one currency or a lot of currencies it does not really matter if corruption is involved. But if ever we would be using one currency I think mass poverty would take place plus the economy would go bad for sure.

we will use one currency this is better for us. ::) ::) ::)

,well as for my own opinion, corruption is really present and wont never be erased in the economic system, so just what if we use one currency? does it really taking away the word corruption? or does it more or less leading to corruption? well i think it wouldn't really be taken away and let us just accept the fact that it is being taken advantage by some people, and the idea of using one currency i guess it is impossible though.

if ever we will use only one currency all over the world, most probably the economy will depreciate since now the value of money is the same.

The economy will not depreciate when using one currency. It's just that the rich will have more money, but the poor have less money. The use of one currency will not affect the economy.

To be honest the question is pretty confusing. You asked "what will happen if we use a one currency only?" which you mean is that, what happens if there is only one currency. Then you blurt out some non-sense on your main post.

If we only had one currency then there would be still the same problem. Poor countries will still be poor. It would just be easier though to travel and do crossboarder trades.

I don't think that is possible, one just currency can't exist. It would make the life more easier and simple but this is not going to happen because countries still look at national currencies as a part of their sovereignity and something they will not give up. Even Bitcoin can't change that attitude.

what happens if there is only one currency ? Whatever you use the currency, the nation would still have corruption appears, increasing inflation, tax problems ...., all depends on the Government, and how to solve the problems of each country.

corruption of a country already anticipates why with one currency what there is called with one currency let's just talk 1 bitcoin alone is worth thousands a state of corruption until bitcoin juice is able to create its own country

I think this is a good thing, everything is flat and no one can dominate. one currency will make the transaction very easy and simple because it does not need exchange or a third party (strong currency).

if we only use only one currency, no one would ever be confuse how to calculate money from different country transferred or brought to another. All money denomination would no longer have prints based on a country's history.

This is the reason why greed countries wants to stop local Bitcoin exchanges . They want to control everything. Centralization will always lead to corruption, hate, and poverty thats why Satoshi nakamoto created crypto currency to give us freedom to this.

If we are going to use one currency only then it is a great way to have a unity in the whole world because one currency means one nation and all the people are connected with one another and there will be no barrier like what we have right now and if that happen then a lot of people will become friendly and the war will not exist anymore.

One currency for the whole world can only happen and can only be successfully implemented if there would also be ONE global government. And getting the whole world to unite can be a fantastic idea but it will only exist in our euphoric dreams...it will never happen for as long as humans are on the helms of the governments.

The issue here is not only economic but also sovereignty and that right to pursue our own different vision, mission and goals as a country. In fact, conflicts are arising because we have different views on many things and nobody in his right mind would allow anyone to trample on that right.

Human nature is such a big area to study and understood well though this is not discussed much these days but it has become one of the many underlying cores of the things happening right now all over the world.

one currency only ? not crypto currency ? if you're talking about the fiat system. the world will be on a disaster because there will be an imbalance in the system that cause corruption and many bad motives on the system. i hope it will not happen i would go for one crypto but not on one fiat currency.

 think your point is there will be an easy corruption if there is only one currency for all. Because there will be only one who controls the movement of the currency.

Your question is different from what you have said in your main post. However, if this will happen that one currency will be used in the world, then there will be a good and bad side to it. Good side, is that transactions will be made easier and the bad side is that, there will have the one who will control it and poor will still be the poor. Nevertheless, that is just an example and I think this will not happen.

This will create chaos. We have seen what has happened with the attempt to do this with the Euro. Some countries have very bad governments and their bad decisions will have a ripple affect on the other countries that are using their currency as a reserve currency. < They might pull the strong economies down, with their bad decisions >

You will also have a lot more conflict, because there will not be a single authority making all the monetary decisions < each country will have representatives for their countries and they will fight more over monetary policies >

You can have Bitcoin with no central authority, but countries will target developers to implement their monetary policies and agendas.

Countries will never agree to that. Governments need regional control and need a means to adjust this (by having their own currency) if everyone uses the same currency, there would be more unemployment and financial mayhem overall

I don't know why it would cause more unemployment. Yes it will bring a negative result but I think that is not unemployment. Work is not a problem but the pride of the people in the governments will be thinking this is kind of a slavery since they are using the same currency with bigger and more richer country. It will be ending up other countries using other currencies so this will not happen. Also, this will be showing the biggest corrupts on every country.

In my own opinion, if we only use a one currency i think the world will still be the same because only the currency has change. But i think it will be much better if we only have one currency because there will be less corruption in every country and there are no worries in exchanging your money.

Currency is just a agreement made by the government that it will pay equivalent value if asked in gold, and also I don't think that everyone will trade their currency entirely just for the currency of another country even the US too, so this can't happen in real life and it's hard to achieve than just talking about it.

Economic global conditions and associated with them would be monotonous if were only a single currency used by all countries in the world. The disadvantage for me is, i cann't do forex trading anymore.

if it's on the internet, I think that's a good idea, and bitcoin could be that currency. but if it's for all the countries of the world, I'm not sure of that. because so many things to consider, each country has its own economic state, so having its own money will be an easy thing to control.

i think we are already progressing toward that. i am sure that after some time whne bitcoin will become so common that all the people of the world will start using bitcoin for everything then we can expect that all the world will combine to one place to start using bitcoin for everything, and i am sure that it will have very good impact of the world peace and prosperity.

It is right to think about it that what will actually happen. The price of the bitcoin is high and people are thinking to make it the world currency but if the world will use only one currency then the process of the investment will be slow as compare to the present age because having multi currencies are Improving the economical condition of the country so it is good to have the multi currencies.

In fact using just one currency will make things easier for everyone.. Literally...for the normal people for the government and for the corrupted society too..😅 Its more like a double sided sword... It willbe easy doing transaction and everything and prices will become stabilized for everyone in a while thus will be beneficial but at the same time..it willbe easy for people to exchange... Black money because usually when you convert international currencies govt. Does take a note of it and still some people manage to do so....so.. Making that currency only one... Will make this task easier for them.

What do you think's going to happen. There's a difference between using one currency and eliminating commodities. Right now we can have the US dollar in Bitcoin because Bitcoin is considered a commodity, something that you can find for simple research. In the current situation if we say the bitcoin will be the one world currency, its too early to assume that. Things change too quickly in crypto world.

Why a lot of US high profiles are interested with the gold rather than fiat money? They are know about the truth of gold. If many people try to read about the historical of gold and the fiat will be useless,
That was just like a manipulation by the goverment and try to exchange the fiat that was printing anytimw with the gold.

I do not think that there will be a time in this world where and when everyone would be using just 1 currency. A lot more depends on such things than corrupt politicians and officials. A unified currency will never happen for fiat. It will always be different to each country or territory. The only type unified currency that may be a possibility is cryptocurrencies; such as Bitcoin and Ethereum. It has the power and potential to send an receive payments in a matter of minutes from whoever and whenever you want. That is far as it goes for a single currency in this world.

Yes, I feel the same and that is the reason that many people will never accept bitcoin in their lives. The up growing price and the instable system give the people a suspicious aspect of bitcoin and they think that it would be the greatest blunder in the world of online business. When more and more people invest in bitcoin suddenly the miners and developers will disappear form the screen. It is also untraceable

I think bitcoin is the solution to many great problems which humankind has for a long time.bitcoin is just a payment method so anyone can accept it for whatever they want there is no laws or banks and the network is simi-anonymous so no one has to tackle all the hassle of creating an account simple download a wallet and you are ready to accept the bitcoin. just imagine it in 500years ago banks would have no chance if btc exist at that time.

I even think cryptocurrency can make it possible,but I won't buy the idea because corruption will be too much.   

Important, when we use one a one currency for our economy and finance, who is manager this currency? International banks? Or United Nations? No countries want to give their economy to someone for them control their country, no one.

There will be the time, if you are aware of the conspiracies that are being discussed in the internet, there will be a possible time that everyone will be using one currency. And if you are aware of the one world government, it's possible. I have read it many times and that's possible to happen so that everyone can rely on every country and has the control in finance.

Using only one currency as the main currency world wide has its own pros and cons. It would help in trading between the countries and would end the currency differences between the countries. But if there would be only one currency then the economical conditions of each country is very different from other so there will be a problem in currency distribution in the country.

We are not ready for these right now. Maybe in future altcoins will rise and interruct with us mere deeply.

One currency will make us global village in true sense and many problems will be brought to end by this decision. The World Bank will be controlling the currency and corruptions like money laundering etc will no more be done. Yep there will be no need to go through hectic procedures of exchanging money bla bla.

one current only that mean you only depend on central bank of that money so that when loose it you will loose any thing  it is so risky so that make more than one income soruce

Exactly. Too much power would be in the hands of a very few people so that won't be advisable for any society. Too much power causes corruption even for the most straight minded person.

It is difficult to regulate and circulate one currency to all over the world,
If you asked about bitcoin, that can't happen to bitcoin because it is decentralized.

The economy of each country are different so implementing only one currency is not practical, advance/developed countries would benefit a lot and under-developed countries may suffer.

I think that is impossible to happen because each government has the power to control their currencies and if we will be using only one currency chances are one country will have the authority over every country in the world and that is impossible besides I don't think the supply can maximize the demand as well as the market control cannot be establish properly

In my opinion this will never happen. Also think about Greece entering Euro zone.

You may be right but I think otherwise. I think k this will be the best thing this world will ever see if we manage to see only one currency all over the globe. The biggest advantage it will have will be that you need not to worry about keeping different money while travelling across the world.

Yes I agree with you. No other currency in the world crypto or fiat will rule over the world except bitcoin and the reason is no doubt decentralization. If you observe the market of crypto currency, the most demandable and valuable currency is bitcoin. That’s shy its price took jumps in a few months. It is because the trust of people in bitcoin all over the world. and the people trust is due to its unique features.

I think if all the people use bitcoin as a single acceptable currency all over the world, the monopoly of US dollars will crash and the people can easily trade and deal in bitcoin without any obstacles like exchanging, buying and selling other fiat or local currencies for their travelling and purchasing through the world. People will feel relax while using only bitcoin for all purposes all over the globe.

Few years ago nobody even thought about smart phone. But now we see that everyone has smart phone and without smart phone people feel not good, like they are missing something. The same is here today with bitcoin. Everybody expects that using one currency all over the world is not possible but I think that it will happen in the future that there will be no other currency to use but bitcoin.

If power is in one hand, then you won’t be able to get right things. Reason is, you said, most straight forward and right person could even get corrupt. Power shouldn’t be consigned in one hand rather must be distributed among many other hands for better running of system.

The idea itself is good,should take a look about it. (new Token/ICO will be done if they see it,so don't talk about it too much:)
Anyway,this idea deserve an indepth study

Different people think in different ways. You think that one currency will make the things easier and many people think that bitcoin will create more problems. Because the governments will never accept and legalize bitcoin in their respective countries and will ban their fiat currency.

Because every government want hold over their currency. They print if they need more, while in case of bitcoin the people will be totally free from governments rules.

I agree. If you have 1 currency in the whole world. It would be easier to buy things of course. But would take a huge risk with it. Because if there is a central bank for it and it will get hacked or something. So many people will lose their money.

One currency in the fiat world, I think it would damage the economy in certain areas in a big way.
When you look at the Euro, they made that experiment with a few countries. Even some of the industry nations that were used to devaluate their fiat got real problems.
Expanding that scenario worldwide, its consequences to many countries would be even more destructive.

One currency for all the nations of this world is a great idea it sounds like a unity for different races of human. However, there are flaws in this kind of unified system in terms of the one who will handle the authority over to that currency, they will be granted the power to control and to enforce law over to that fiat and we have to submit to it no matter what, even it is a bad law because that is the only money that the world accepts. For now it is impossible to implement that and I disagree with that kind of currency system

I don't think that this will eventually work, this is certainly a good idea, very futuristic but on the other hand other nations will not surely agree on this kind of set up specially to those countries that have a great value on their monetary system locally and internationally some of them are globally competitive to other currency. Currencies' price can also mean that this country is rich and powerful with this idea this is not applicable , if this will happen, I can only imagine this after a great war.

I think if we have only one currency it is easy for us to travel in different countries without exchanging philippine money to dollar. We can achieve world unity even in a cryptocurrency. How do corruption involved in a one cryptocurrency in the entire world? Could you please elaborate that coz i dont understand why corruption is still there well in fact we talk about the one cryptocurrency in the world.

Every country struggles for independence and power respectively, if the world has only one currency it will only lead to war because it is a matter of integrity and ideology of each country.

Bitcoin can only be used as a common currency, and each country can still have its own identity. If the analogy of 1 currency is the dollar, then there will be no economic equilibrium around the world, and the dollar also can not develop because there is no comparative value and stuck on one side of the price alone. Another term there will be no economic equity.

Well as long as its just 'if', there will be an economic chaos in the world. Because each country should have a different value, status, culture and etc. So its impossible to happen. Except, maybe the whole country have their own cryptocurrency as a replacement of its currency. Its still have different value but have same type.

it will be hard to have a same coin,maybe in type it can possible but it will depend on many area,such as the economic growth, the status of the Country ans acceptance and a lot more.

it is okey to me if you know rises and drops it can be good profit.But it s soo hard tired for human i think because everbody has got their own life people need to live:D

How is any of that related to what currency is being used? All of that happens in every monetary system, in fact the only constant is that it happens in every monetary system. The underlying currency is irrelevant. If the whole world switched to bitcoin and used only bitcoin, it would still happen. There would be corruption and poverty just the same. What currency such inevitabilities happen under is not consequential because the outcome is not tied to a specific currency, but to the fact that there is any currency at all.

This will unifies the world economically but it will take a lot of time to unite the whole world on the basis caste, creed and color. It is very difficult to unite the whole world only on the basis of currency. People have different mindsets, they belong to different religions and different cultures. Although bitcoins will help to globalize the world.

The only problem that we have is communication. Different countries, different people, different culture, different tradition and last but not the least is the different languages and that is the most important that we need if we are going to have one currency because if we have one language then understanding other and then the mindsetting and getting agree to each other is easy.

Yes I agree with you 100 percent that the governments all over the world would be many obligations about bitcoin as a one digital currency all over the world. Different currencies are the sign marks of the countries.

So I also think that all the governments will never agree on this that bitcoin should be the only usable digital currency all over the world. Wait for future and see the result.

One currency? This would be a landmark achievement but the practicability of it is what I am not envisaging happening in that even if government is ready to implement such (which is likely impossible), I don't see how citizens will accept because of the religious connotations that will bring and what people attach to such prophecy and its implications as well.

I see it can help bring a leveling playing field globally most especially when it comes to importation/exportation. However, there is what they call currency risk in international trade (you can google to browse more about that) and it is obvious that the developed countries will benefit more.

Now, this is in terms relating with traditional currency such as USD etc. However, relating it with bitcoin being a decentralized currency, we may however see almost the same thing but since it cannot be controlled, then we may see different outcome. Nevertheless, I do not see situations like this playing out as it is quite impractical.

for sure the government will just manipulate the price of it though the people will be unite and will make more understanding to each other but the point here is the government they will absolutely do whatever they want for sure.

I am a big fan of diversification and risk minimizing.
Using one currency only creates a bottleneck, a vulnerable spot in the economy.
I think for every important structure a backup is needed. That counts for currency systems as well.

First of in this world no country is going to united with out boundaries so every country will have their own Identity through the countries currency only. So there will be no exchange income and taxes how you differentiates this basic things also not how we controlled.

Who would be that government?What country would hold up the dictation or hold up the ruling? Having once currency would really create chaos knowing that not all leaders of each country would unit on their own the same motives or will.There would really be people would raise up their hands to have the control or governance.Local fiat currencies signifies power and i dont see this thing to happen.

If we use a one currency ONLY there will be no foreign exchange. How you evaluate and compare the money. Simply saying final exam without result and showing. Finals ends without knowing who is the winner

One currency I think will lead to monopoly and this is an easy way for the few to control majority. Monopoly itself is corruption riden. So, one currency in my view won't really be nice as it won't lead to choice and when you don't have choice, that means being caged.

If we use one currency only we have no choice as to follow the rules. But in this case yes you are right in every country there is no identity happen. So it is best to stay as is now that we have different currency in every country.

Many of us currently appreciate the variety of currencies. Because for some independent nation should have own currency, for others number of curriencies is the number of potential investment on many exchanges.
But for majority, one common currency would bring many advantages and benefits. The Europe is interesting example, in countries who have the same currency(EUR) the companies have opportunity to trade without loss because of spread in exchanges, the comparing salaries etc. is much easier, and more you will be able to find in wikipedia. So we can boldly say that one currency should in theory bring more good for majority.

There may be probably good advantages when thete will be one currency like the ease of transaction and trading without loss, but it may also leaf to monopoly where the control is for only the few. Rich will become richer and poor becomes poorer. And alsi, I think having one currency will just lead to chaos. Having one currency in the world is only through cryptosystem. But the traditional currency will never be change anymore.

If we have one way of communicating to other people where we can understand each other despite of the different countries that we came from and our traditions then we can rely on one currency but if we don't have one currency only then like you said, it will only lead to chaos because people will just panic since they don't know how to transact and it will become a long adjusting stage for the other people who can't even speak english.

I think this can't be applied. One of the problem will be the traffic on network. Huge traffic incoming if this will happen.

Although bitcoin is growing so rapidly but it becomes a legal currency and means of global payment transactions will require a wiser consideration because it will only lead to financial instability from various countries and can be a monopolistic practice of finance from some developed countries that have been legalized first against bitcoin

Will never happen. It is always possible to create new cryptocurrencies. There will always be new ones coming out all of the time.

If the world will use one currency only it would be easier to transact to different parts of the world the value is fair for everyone and no country is going to be poor because no need for exchange rate everybody will be a successful country.

Well there would be no need for exchange rates because all the countries in the world will have uniform currency. The issue of import and export charges would be solve because there is no problem in converting the currency. The problem with this is that who would be the one who would manage the printing of money. There should be a federal reserve of the world or a bank version of united nations so that there would be proper handling of the transactions.

There is a possibility of corruption still but then whether there is the same or different currencies, it still exist and this would only be eliminated if all the transactions are transparent like in blockchain technology where the transactions are traceable. It would be doable but I don't think all countries would agree to have the same currency because it is one of their pride having a higher value than other currencies.

That is the only reason behind declaring bitcoins illegal. Governments better know what the benefits of bitcoin are and how beautifully they can enhance the economy. They only don’t want to make it decentralized, rather want to have fully control over and that can’t happen for any reasons hopefully.

When there will be only lesser chances for only one currency to be used then we never worry about bitcoin to be getting as a centralized one.

making the currency simple and unified, in my opinion will eliminate and demolish the works of corrupt individuals tryng to exploit the weakness of the currency system they currently have. Every other country has their own currency system and their weaknesses meanwhile there are people that will and will always exploit this weaknesses and the unification to one currency will,I  think will be effective to banish this kinds of doings.

If we will use one currency only there would be uniformity to all the countries in the world. No more distinction of rich and poor country because all equal and no more discrimination. All transactions would be simple and easy to do.

I don't think we will ever use one currency, but Bitcoin will be the world's reserve currency and there will be other digital currencies from countries and govts that base their price off of BTCs.

I would like to suggest to Op used bitcoin instead of US dollars. When I've read it the first thing that have worried me is china, do they agree with it? We all know currencies is a pride of one nation and if that country is taken such privileged or own identity as independent body it would not last a month. War will eventually occurred. I hope it just a mere suggestion and won't happen in reality.

that will never happen , but if it happen it means all nation will be unified by one currency through up and downs ... if it goes down all will be affected by that certain changes

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.

Before Indonesia can proceed to do the corruption there should be unification of the single currency and which is impossible to happen in the first place. Why any country would go behind that chaos of making one single currency of world. This will imbalance the prices of goods and services, every country will have same economy which just seems impossible to happen. Because it may be just not possible to have many kings of single kingdom! The money is power and the one who holds most of the value is the powerful in the world. That will be imbalanced and before that happens we will face world war over the currency. So I don't think it's much bothering thing to think of single currency in the world.

There is a huge relationship between government and bitcoin because governments are looking bitcoin activities on daily based because many countries allowing bitcoin as payment method so what do you think more.

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.

I think this is impossible, of course the country has a desire to be able to control the full financial, if the world 1 currency then there will be chaos, certain countries easily destroy the economy of other countries, I think every country or region better have its own currency and there is an alternative currency for transactions.

I don't imagine that we can use in one currency, we have a different country so we also need a different currency, but you said " what if , there is no overseas workers , because the value of money is the same in the country their living.

If we are going to use one currency only then there is no higher type of people in the world because we will have an equal type of money and we can't underestimate the other people because of the value of their money and if we are going to depend in one currency then it is automatic that we will have a balance world because one currency means one nation.

If we are to have only one currency I think countries would be closer to equality, the pay would be in same currency baseline and I think poverty will be greatly lessen if not solved. The problem of exchanging money to different currencies would be no more and life would be a be better I think.

You have rightly said. There will be so many factors on which this thing will depend on. But if this thing happens, I think this will be the best thing for the good of all the citizens living in that country.

It will help you in doing trade quite comfortably as well as you will be having no worries of keeping so many currencies at the same time.

I think that nothing will happen if all over the world will use only one currency. The rich will have more money, and the poor have less, because no action will be taken, but simply replace the currency.

This will not be beneficial to all parties as some will gain more that the others. The monetary policies will be uniform that means interest rates will be the same and countries that are in recession will suffer more economic hardship that those that are booming.


 

There is nothing which is impossible. We never know what will happen in the future and I am in favor of this thing that there should be only one currency all over the globe. This will no doubt be very much profitable for all of us. We’ll be having no worries to trade across the borders.

You have rightly said and I will support your argument. 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.

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 .

Thats not possible unless all the world become united under global government, which is a bit magical idea. There is hundreds of countries using a lot of fiat currencies and that's natural, also there is so many crypto currencies nowadays and people trade many of them.
People are different, that's their nature, and we cant force people to use just one currency.

In a case where the government has one single account which is being used for holding and transferring into other sectors right ?

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.

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.

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.

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.

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.

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.

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.

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.

When I first heard about bitcoin and discovered its decentralized nature, I wished it to become the only international currency which will be used by the whole world equally. Now I have high hopes of t becoming true. Like you, I am in favor of this idea.

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.

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. 

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

That is for sure, if we are going to have one currency only then there will be a unity in every country and all the leaders will agree to each other in order to make it happen and that is possible to happen if we are going to unite and forget all the bad history that happen between the different countries in the world and start a new united countries with one currency.

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.

We can never use bitcoin as the sole currency of the world but yes it does make sense of using bitcoin as the international currency of the whole world along with paper money. Bitcoin is the only currency available at present that can give world the real meaning of global village and I am sure soon they will be used by everyone.

It will only take time and then it will not be any issue for any of us to use bitcoin as a one currency. Currently we are feeling it hard because in the current world bitcoin is not being used everywhere when it will start to use everyone then it use everywhere will be more convenient.

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.

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.

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.

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.

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.

Good idea but i think it will never happen . but if we use only one currency it's a good to remove corruption in all of country so i hope someday one currency in all country will become approve. :D

Privacy is given by the bitcoin but it also can give the status to the concerned authorities who are investigating about such matters and money laundering is impossible in this because there is history of each and every transaction in the data base and any countries are working on this thing that corrupt people can use it and they are near to solve their concerns about it,

I think corruption is a different topic when we talk about having bitcoin as our international currency. In my opinion, having bitcoin as our worlds currency would open more opportunities not only to the first world countries but even to the third world countries or as we can say, the poorest of the poorest.

I do not think that one use of one currency in the world will lead to a change in the prices of goods, rather the contrary, prices will become more stable as there will be no competition between currencies.

i think everything will just fine and nothing happen as long as all people in the world is agree for only using one currency. but I don't think this will work because there are too many country that want to use their own currency like today and every country want to make contribution for this world. beside that, the living cost in every country is different and how we can exchange it or buy something that has imported from the other country with high price? the poor country can not buy that product because they don't have money to buy.

Using one currency only will be like a reset button for the world and it needs a lot of agreement from different countries in order to make it happen because if they will not become united then it is impossible for them to have a one world currency only policy. In reality and basing on the things right now, i can say that it is not worth it to wish for that because it is like a fantasy that will never happen.

The perspective of the existance of only one coin fist if all it hits the cuktural wall. Secondary it would be only one country or non, so it's imposuble such thing. Related to the corruption, there willl always be an interest for valuebal money/assets.

Civilizations are formed from the interests of various countries and agree on their respective sovereignty, if they impose a single currency then there will be a big problem because there must be a step intervention against the currency, In this case if bitcoin applies as single currency, then it will be more problem great because the state can not make majority arrangements.

There are good and bad for this it will cause corruption, governments wants to be on top they want to gain power and to get some taxes that why i have the civilization now a days. hope for the next 10 years it would be different.

I don't see it as competition honestly. Governements people care about their national currency. It is important they can support it. For international trade i see bitcoin being the main currency. Especially f.e. If the monetary fund will support it.

I think it will be better, however, it is not a simple as we think. It will bring effects and consequences which is beyond on our expectation. Having one currency only for global, it has no correlation to the corruption. Corruption has been exist since many years ago and it probably will never end. It is not caused by having one currency only.

I do not think that it will happens since from the start there are always so many kind of currency. And if only this happens, many people trying to change everything they have just to get that currency will make this world turn into chaos. Let say there would be bitcoin in this world, where can people start to earn money when there is no one hold the coin and there is no bank too thst provide this kind of service here

Bitcoin is the best example for that, As bitcoin is a universal and decentralized currency and we are using it throughout the world equally, I think this is really a very good feeling that if you want to purchase something abroad and you can pay them online in a friction of time without changing any currency into their local currency, and we can hope that in future we will be really using a single currency.

Bitcoin has potential to be declared as the global currency but it will take time to do so more work on its advertisement is needed and this thing will occur sooner as by seeing its popularity charts everyone is going to accept that it is kind of revolutionary thing that is influencing life of every single investor and if it becomes the global currency then world would be better place to live.

Probably it could be happen since bitcoin price is very vulnerable for changes in the market and it could affect the entire community.
If it happens that we are using a single currency, probably it could create trouble along with the consumers/users versus the investors. And I believe that government will never support this.

It could be so dificult to use one currency.If this happens maybe all our transactions would be going thru the computer.But this is really hard and need to be studied and do some wide research as much as possible.This could create a disaster if this is happening.

The Central Bank would surely be the most powerful organization and the one who is sitting would surely have the power to manipulate the entire market which the governemtns would not allow since it will weaken thwir power to exercise the rule of law in its jurisdiction. The world needs different currency in each country and a universal currency which is Bitcoin.

One currency throughout the world is possible but not beneficial for all countries.
like everything has pros and cons
Let's talk about pros.
1. Easier to do trade between countries for eg. in Europe only one currency Euro throughout, Trade Loc  between all countries.
2. Only one central bank who bear responsibility to rules and regulations.

cons
1. maybe country can take advantages on one world currency like if US dollar be the one than USA has more advantage and independent in terms of others
    countries.  

Its like were having one language at the same time. We can transact money internationally and send abroad. We could use it as a access pass in other countries.

Yes, this is the reason why every country has a different currency, the currency in one country is not answered and problem by other country if one of its citizens make an illegal, its hard if you use only one currency but its eqsy because if you travel to other places, its not hard to exchange for the money that the country accepts

I think there are a lot of valid view points here.

Corruption is a big deal.

I think the struggle with adoption will make most of the currencies that we have now obsolete. Everyone wants to be a millionaire but it takes money to make money and you can only stretch it so far. Place you bets wisely and understand that sometimes you have have to lose to really win. Invest smart and confidently.

if that happen, the price of that currency will grow much. one currency for whole world it so very difficult to think/provide, because government will also provide more currency of $ to be use of all people all around the world. its more difficult that you expected to implement your idea.

If humanity will use only one currency, then it seems to me that every person will have a lot of opportunities and there will be a comparison of all countries in the economic sphere. Perhaps this will be even the best scenario, but I'm not sure about it.

I do not think that's possible, because it will affect the whole world if we only use one currency, because according to the currency pocket also includes the identity of the country, so not mengkin applying one currency only.

The danger of corruption will be carried out by proper check and balance on conversions and transactions and this will allow the clean and clear investment, if whole world will start using one currency there will be no economic crisis anywhere in the world and every country will be stable and, bitcoin is solution to the problem and it will be implement in future,

Well it seems difficult at present but not impossible. If the whole world can be declared as global village then why we cannot use a single currency.

Single currency will resolve so many problems such as taxes on transactions especially international ones, conversion of currencies into one another etc. There will be no need to understand the differences between different currencies.

Yes that's true, but the level of economy of each country is still matter. Like third world country and a first class country, If they have the same currency, all those who are in poor countries will migrate to the rich countries because of low cost of living.

It will be the worst idea, the economy of the world will collapse. Because not all the countries are on the same level, there are some rich and some poor countries too, in order to make a single currency all the countries should be on same level otherwise poor countries will suffer a lot. There will be no trading of currencies and so there will be no exchanges, and also a single authority to print and control currency for whole world will be a mess.

Corruption will always has place to be till government will not accept any strong methods to it's removing. But corruption exists mostly in governments structures and not so many politics decide to work against of themselves and their colleagues, so corruption is generally blossoming.
I wouldn't love to American dollar would take as the one currency, it's going to be the greatest support for the US. The same with any other currencies. Bitcoin should be taken as the one international currencies, cause of no one own it and all countries will be in the same rights for this currency, so there is not going to be someone better and powerful against other.

Using one currency does not mean that the bank will control this currency. Don't you think that bitcoin or another cryptocurrency will become the only currency in the future? When it happens, banks will no longer exist on our world and the people will be their own bank. The world will be a better place and people can easily travel to other countries without worrying about converting their money to the local area currency. Everything will be faster and it will take less than a minute to transfer money from place to place

Fortunately it's just a possibility. But if this is going to happen it can be dangerous. It will be a lot of unemployment, poverty, hunger and malnutrition. It's just my assumption that maybe other people also agree with me

I do not think that will ever happen.  No one will do it and the US will not let it happen.  All prices or commodities when exchange to other countries were based on usd.  When you import or export, it is like all have equivalent to US currency.  But we are lucky to experience that one currency through bitcoin.

Now world economy is based on the USD.One new technology was came to replace that.It's none other than our beloved Bitcoin.But take some more time to replace the dollar. Many country try to abolish bitcoin from their country. But it was not even possible. Even U.S tried this, but unfortunately it was not possible.

The one world currency is part of a long planned world domination by the illuminati. When they get control of the currency,  they will control the world. 😒

I guess more like the end of the world. Unification would make the world monotonous and moving in one direction.

Anyway, I don't see the possibility of using one currency worldwide except the world is ending as described in the bible.

Not only on Biblical aspect but also having one currency wont really be possible no matter how we do such thing knowing that All countries do have their own sovereignty and there would really be showdown of power and wont really plan to have a unite currency because they will surely accumulate as much as they can because the more of it the more powerful it would be.I cant imagine on how these things actually works.

the country will also be dizzy when they have to read your thread purely translated from google.
if we only use one currency around the world then centralization will happen whether desired or not there must be an institution to regulate the circulation of so much money, then if something regulate it there will be a monopoly and monopolize. and if we look at the economic differences in each country, it’s a difficult thing to do because the economy of each country requires different treatment.
 

There is an "if" so it should be answered regardless if it may happen or not.
I guess that is a dream of one who have the kindest heart of all. It is already telling that there is world peace of ever there is one currency being used or circulating.
You just talked about the corrupts but there are bigger things that it will do when there is one currency. No more looking who is the strongest country since they are all looking forward to telling other countries they are strong by means of currency value.

using one currency will certainly have a positive side to solve various problems that exist at this moment, but I bet there’ll be many countries reject that one currency before it’s inaugurated because it will disrupt the economic stability and competition. because this is just same like to interfere the affairs of the country and the country will become so dependent on the other countries policies.

for now, applying 1 currency for the world use would be very impractical. theoretically a mixed approach is certainly more desirable. in some areas, like Europe which adopting one currency gradually can produce substantial profits, but even so many European countries refuse to join using Euro. and for other regions, trying to enforce the one currency will likely occur more losses and dangerous to their economy.

   Having just one currency is not simple. I can not imagine any traditional currencyas global and
universal currency, used by all. Creator of this thread mentioned dollar, I can not imagine that
some countries accept dollar as their own currency, that will not happen.
   There are many questions about this global currency, who will be supplier, who will print it, who
will be the distributor?
   Until now using single currency worldwide would be highly impractical. Now we have blockchain
technology and bitcoin. Many questions now have an answers, and if something can unite all
countries in this world that is technology.

There is an article that I read before about having a one currency system. One of the debated downside of this will be since currencies are affected by how an economy performs if one of the economies collapsed then the currency will also be greatly affected. One of the example of it is the previous issue in europe where the euro is greatly affected because of the economic crisis that had happened where bank lending and investment triggered most of the problem.

I don't think there will be only one crypto, as there are many blockchain projects that have their own advantages and can coexist

I believe that using one currency will not change anything. The poor will have less money, but the rich have more. Simply, the currency will be replaced, but the possibility of earning will not change.

I think it makes all countries using one currency will have a lot of positive impact, as if you travel you do not have to bother to swap currencies, because the currency in use is the same, but there is a negative side that we should know together when using the same currency, because every government has different attributes and regulations, and maybe there will be those who want to make their own currency so that they can manage and manage, by their own government, so that they are not controlled and dependent by another regime that will set it up

Corruption is the other thing but the first thing is the bitcoin and the application of the bitcoin, the importance of the bitcoin is increasing as the new people are getting into the bitcoin, the crypto currency is getting famous because the new generation is using the currency as the saving and the investment, a lot of people are investing in the bitcoin and getting the high profit for so that they will be able to have the bright future.

I suppose this kind of question you can find in the financial phd. In my opinion the use of only one currency it is almost impossible, i believe that there are more chances to eliminate the existence of any coin then to use only one coin. Everything it is related to the resources. For example the reason why the american dollar become, for some time the international trade currency, it was by the simple fact that United States of America had the biggest natural resources of gold.

I think the worst thing is chaos, imagine that everyone is focused on one coin and everything is circling around it and there are no indicators of its height or rise or fall.

But beside that, when we using one currency for the worldwide, we will have some troubles about the economy and finance for every country. We use many currencies because it can creates economic competition and makes poor countries need to improve more if do not want abandoned :).

In the past when there were barter system things were exchange for things at that time there were no standard for things to exchange at the same rate in different areas. Just like that now it is impossible to say that in the world there will be only one currency. For the current time there is no chance while in the future may be this happen some other time.

Using one currency globally is not that good idea. Each country has its different and unique currency with approximate value and it should not be disturbed. Even we have bitcoin as a global currency which will be used in each country after maybe some years.

First and foremost not everyone is born rich but they way he carries himself in life determines whether he dies rich or not,the best thing you can do is to work hard and do your education at the given time and not to waste your time and energy during that period and if you could do that then there is a guarantee that you wont die poor,bitcoin is a single currency,but i am not sure what OP is trying to tell here.

I think that we are already going toward that, i think bitcoin is a good step for starting as one currency to be use throughout the world. Because bitcoin is a decentralize currency and can be use throughout the world without changing it into any fiat currency.

I think if everyone in the world uses a currency, the deal is easy. People are closer together. The gap between rich countries and poor countries will be reduced. Printing money machines is also easier. Facilitating many aspects: economy, life.

It would remove inefficiencies from the system, but the gap can't be shortened with just that. It could very well get larger.

Certain regions just have it much better in terms of natural resources, population size, and higher education standards, it all affects the population's productivity.

------------------------------------------------------------
One language. One purpose. One humankind.

Too many don't care for that. Something about us.

Having one currency is not a good idea due to being highly impractical. If there is only one currency, then it had to bear the burden of many under-developed economies. It would likely do more harm than good if we only have one currency.

Only one world currency has not found favor with most countries. Each country has different conditions and potentials that determine different lives. Bitcoins may be global currency but it shouldn't be the only currency.

Although many were surprised by this unusual announcement, the idea of a world currency is certainly not a new one, In my own perspective, Developed nations would certainly benefit since there would no longer be currency risk in international trade. In addition there would be somewhat of a leveling of the global playing field since nations like China could no longer use currency exchange as a means to make their goods cheaper on the global market.

If we will use the only currency then I think the only thing that will get change is the bitcoin and the importance of the bitcoin. In the past the bitcoin is being famous and it is the source of income for me. The currency of the bitcoin is not just the currency but it is the saving and the investing as well so I think it is very good to have so I think if we will use the only one side income.

Nothing will happen but the thing you have mention will never be happened. Because the world is so much divided in groups on financial bases religious bases and geo political bases. So in next few century this can not be happen. But may be our grand sons are much wiser  humans who can solve the problems faxing by the world and make it a global village in real meaning where borders and nations divisions have no place.

Yes it possible because the world is becoming a global village and in one village there cant be multiple currencies. So the world has to be get down foe people betterment and easiness. If the concept of time traveling become true then there should be one currency for people who can use it every place because after the use of Time travelling someone setting in Australia will be in new York with in 5 minutes.

I think that one currency over worldwide is a good idea.
As today different countries have different currencies, which leads to these banks and transaction companies to earn their bread as when we transfer money from one currency to another,  these companies or organisation get some share of it,  if there is a single currency a person don't need to depend on these banks.  Transaction will be easier.
But it's has its disadvantages also.
As single currency will give chance to smugglers to smuggle more easily. 
And there will be increased in corruption also.

I agree with him, He's rumour was a lot of knowledge to everyone. We all knows that if we have once currency only into the whole world. It leads corruption in any side of government, therefore poor people have no chance to increase their type of life because it's hard for them to get some money. I'm pretty sure that war are explode because everyone in any country were want to become rich, more powerful and more money. They want to become on top of everyone due to greediness to the power of money.

Then every country will be easier to live and it will be an advantage for those people who really work hard to feed their family but bitcoins will not be used anymore since the value is very high and government will not allow to use it because it will affect the balance of the currency.

There will be a bright chance that in future that whole world will use only one currency and that will be bitcoin because bitcoin is neutral to each and every region of the world, it blesses everyone equally and it is the most accepted currency all over the world and it is not confined to boundaries and if this will happen economy will move upward and no one will be low.

If there a only one currency globally than there will be total unbalance of all trades and big company will fall. This will also effect many transaction at local level. Currency of a country decides its economic growth and its GDP also is affected due to the currency. Also there will be a large amount of black works done in the society due to this as criminals can exchange there money very easily and can do any trade. there will also be increase in global trade due to this.

The are both advantages and disadvantages of making one currency legal globally but i think it will not be a good decision for every one and we should continue what we follow now about currency

the possibility of a world money is absolutely not another one, In my own particular point of view, Developed countries would positively profit since there would never again be cash chance in universal exchange. Likewise there would be fairly a leveling of the worldwide playing field since countries like China could never again utilize cash trade as a way to make their merchandise less expensive on the worldwide market.

If we use one currency only then a lot of problems will occur to us in the life because we know that we are all dependent on each other, I mean if we visit to another country and we have our own country currency then what will we do? This is the problem I want to say so then no one will help us  not our money and also not our country so the best option then we need to choose is to use that new country currency to live life easily without any problem.

It is getting more and more modern age now, all the people are trying the new things, so I think it is very important to use the different currencies as well, I like to use the bitcoin first and the most because the importance of the bitcoin is getting high and the investors are investing the money in the bitcoin for th profit and the high income so it is the modern age and the people like to use the new things and the new currencies.

I am looking it as impossible because there are uncountable number of currencies in the world and perhaps it happens the it will definitely negatively affect the big companies I mean it will have a drastic and epidemic effect on the economy of the whole world.

If this thing would really happen then expect there would really be a chaos since countries would really fight on accumulating as much as they can if the entire supply of one currency is somehow smaller or even on bigger side they will surely strive to get as much as they can. One currency wont really be possible even on my dreams.

Using one currency will not solve corruption in fact it will cause more corruption, Anarchy and chaos. the poor will be poorer and the rich will be richer. by the way every nation have constitution that guide and protect the nation. unitary currency will cause trade imbalance and many company will be affected people will loss job and crime rate will increase. migration policy will also be affected. having one currency is practically a bad idea

Things won’t really be good…meeh…some will feel like they’re being cheated or something like that. And some people will want to go to a country where they will earn bigger money, cause they will discover their money isn’t worth anything.

Every products from technology, agriculture and all of them would be made for everyone, and this would make some feel like they’re getting cheated when they have to produce most of the things needed. So one Currency is a very big bad idea.

If we use a single currency, this even thought make so many dreams unfold.  If there will a single currency there will be no banks for imposing restrictions on transaction taking place all over world.  There will be whole different world.  This advancement will turn the whole economy balance, there will be no forgery,  theft,  no fear.  Even crime rate will declined.  Nobody is dependent on banks for extracting their money.  There is a whole different world.  There will be peace and there will no fights among countries on money based issues.  Crypto currency will take over the money.  People will enjoy the benefits of crypto currency like bitcoins. A whole better world.  This is my point of view.

Yes, it would be the end of meritocracy. Some lazy fools would have access to the same money people are working hard to boost its price. That never works, it's one of the reasons some regions of countries want to be independent, because while they work and boost the country's economy, the other regions just enjoy and do mistakes. One currency only is what globalists want.

Easy to rule a world of most alienated fools and some people working hard to maintain the globalist's elite on the supreme command.

I agree with this. If our world uses only one currency. government on each country will be greedy in corruption and it will cause chaos also if this happen there will be a one-sided rules through out the world which will be the low class sociaty will be wipe-out no freedom and no peace.

there may not be developed countries and developing countries are usually influenced from the currency itself, it's good also everyone uses the currency only one they will not seek to another country

That, my friend would be one of the worst decisions ever made ,worse decision than the children of forest who decided to create white walkers. We will see the whole world economy collapse and all monetary assets would start to go down because of so many disbeliefs and misconceptions that people have. We will get to see THE GREAT DEPRESSION PART 2  and this would lead to the emergence of another world war.

Not a good idea. This will lead to a central authority maintaining it, and the diversity in the different economies is another thing to take into matter.

This will be a good idea only when there is only one central authority in the whole world. And this means that there will not be different governments and different states. But we all understand that this is impossible

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…..

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.
 

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.

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.

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.

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.

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.

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.

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...

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.

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

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 ..

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.

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.

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.

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.

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.

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.

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.

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.

The world will be like a local market and all the people can buy and sell their needs to anybody in the world without exchanging their money. I think that will be a dream world that all the people in the world will use only one currency. I will feel that I am purchasing in another city of my country if it is out of the country. I will feel so much excitement while using one currency all over the world.

Of having a single currency used, we can't assured that everyone  would be comfortable for this. This could make trouble to the community as they had already satisfied before. Even though this just a speculation, but still we can't ignored this and possibilities to happen as it will continue grow and consistently on top.

How do you see it when everyone discovers that someone in their position is being paid a bigger amount in a different country, do you think that’s really good? Everyone would want to migrate to the country that pays a bigger amount. Well, not really that, I’m just not in support of a one currency.

That would probably lead to a lot of economic problems - high price of product, weak economy, corruption, etc. One of the things that gives essence to economy is the currency of the different country. Dollar is the father of all currency in the world (as to bitcoin in cryptocurrency). If there is only 1 currency in the world, there will be no trading of money between countries, and countries will not progress in terms of its economic status, especially those under-developed and developing countries. And the worst thing, money (dollar, in this case) will lose its value since there is nothing to compare it (imagine all people eating same food). What is the sense of using a single currency in different countries? Nothing.

Today, i think it appears that implementing a single  or only one currency worldwide is impractical. It may lead to considerable advantages but also disadvantages. But if we force a single and only one currency, it would lead to harmful effects than good.

if all the world will start using one currency then it will give a big profit to all the users because no one can change currency in any other country and this will protect him from paying taxes to exchanger and also people will be able to pay anywhere in the world form any country so this will be great facility for all people.

Well, that would be something very unique. But by the way, if we talk about it I remember the conspiracy theory of the one world government. In many European countries, this is already applied and their currency is only one, that is Euro. Maybe it can happen, but it will take a long time and gradual effort. What will happen if that happens? To be honest, I do not know. But now we are familiar with some popular currencies and used by many people. Among others: Dollar, Euro, Bitcoin, and so on.

Typically, the price of such a currency will be very expensive when compared to currencies in thirld-world countries.

I am sorry but I have entirely different opinion and what I believe is that we are already living in global village and we believe that our world is turning into global village. We are now living in digital community or era and here people travel a lot.

It is really big issue for these businessman to convert their country currency into the one where they are travelling to. Using just one currency will help travelers a lot on their business tours.

All other coins became worthless and one as bitcoin is may be 20k each.

Well, now almost so it is, the national currency in relation to the two most advanced is the euro and the dollar. And it is on this indicator that one can understand how much local currency is good or vice versa with respect to the dollar. Translate all into dollars and all you can, only then will there be a complete collapse in the economies of many countries.

I guess corruption will prevail if we use one currency only. And people will experience poverty in exchange for the idea. The goverment will always be present to interrupt all the transactions of the people. Unlike if we have multiple currency, even though there are still corruption present atleast people will still live.

if we use only one currency this will make corrupt people to do more corruption because as you said if we start using dollars then countries which are poor eg pakistan the politicians are corrupt and if dollars will be the currency they will start corruption in dollars which will cause huge loss to the countrys economy

Of course, the application of a single currency system across the globe will bring no small change; if it can not be said the change is unfair. One of them is developed countries will benefit massively because there will be no more currency risk in the international trade arena. There will also be changes in the global game arena as countries such as China will no longer be able to capitalize on the exchange of currencies to leverage their goods in global markets.

If we use a one currency for whole world is also not a good idea which has been repeatedly avoided by developed world nation it can take steps to deflate it currency making it cheaper and therefore make it export more appealing to other countries with only one global currency having single currency is not enough to raise a question you also have to state of countries have the right to print their own currency if people of one country can go and buy or sell in another country without any cess or taxes people are free to invest in any country.

In our case in Philippines, we are not so glad about that system. There are many Overseas Filipino workers in the other countries that are working for their families. They are very glad when the time comes that they will send their money to their family for it will be change into a higher value when it has been converted into peso. In fact, one dollar is equal to 50 pesos here on Philippines and it was a great opportunity for many families here. So I personally about having one currency.

There will be some problems with the distribution of wealth. For example, are they going to give each country the same amount of that currency. Or are people are going to buy it and it will have a supply and demand going on. The money that we have right now will be such a waste of resource because it will have zero value. The equipment that was made to create those money will just be disposed since it doesn't have any other use as well as the money itself.

The new universal currency is probably going to be a digital one and people have to convert their fiat money into it. But if fiat essentially doesn't have any value, how much would be the equivalent of it to the new currency. There will be people buying that currency earlier than everyone else and be able to buy it at a lower price. The people that have been left out are prolly going to be people that doesn't have a strong internet connection. They are the poor ones. They don't have that much money to convert and by the time that they are about to convert to that certain currency, the price has already risen a lot. So they are even more poorer and the rich people are even richer.

There's this imbalance distribution of wealth that's going to happen for sure. I don't know what it is but it's hard to distribute something to each and every single person in Earth since everyone's going to convert their money into the new currency.

If we use one currency only, loss of Import-Export businesses are possible to happen. Since they are profit-based, having a single currency for the whole world would not be a great incentive, because these businesses often rely on the value of certain currencies going up in the future.

It will be not good in some already rich country and not good also in some developing and poor countries to have one type of currency, i found the idea chaotic.

Implementing a single currency worldwide would be highly impractical. Indeed, the prevailing theory is that a mixed approach is more desirable. In certain areas, such as Europe, gradually adopting a single currency may lead to considerable advantages. But for other areas, trying to force a single currency would likely do more harm than good.

I don't think that will happen, in order to do that one person or government must conquer the whole world which is very impossible because it will be the great defeat ta a one person or a nation if he will attempt to make a war against the world.