Bitcoin Forum

Hey guys what do you think ?

Will we have a global currency?

I personally think that the idea of global currency will benefit citizens, there won't be exchange tax and other things , but at the same time it will kill the competency of the countries that the political leaders think is important , there will be no more best to worst currencies , no exchange rates and nothing.
Will it be beneficial?

I think the benefits are more than compensating for the bad effects.

I think this wide variety of currencies  do have some advantages
If we will have a global currency will it be internet based?

I don't think it can be internet based because more or so there will always be a sector which doesn't plan on using the money and worse who doesn't know how to use the internet and how do you plan on giving this advantage to the tribal people ? It will be worse , it will be like , if someone wants to kill the economy of the world entirely they just need to shut down the internet and everything, every transaction will stop.

Please share your views ?

If there were to be a dominant global currency, it will be internet based.

It simply doesn't make sense to bring back the gold standard or silver standard when there is something far more convenient, in my opinion. Especially when you take into the costs of making transactions overseas if your proposed form of global currency exists in a physical form only, it's not much better than having to exchange between different currencies right now.

Your concern about the ease of which the currency may be shut down/targeted also doesn't make sense. Shutting down the internet is a much more difficult task than what you would imagine, and if the currency is decentralised like bitcoin, even more so. It might actually be easier to overthrow a global currency that is issued in physical form by a single entity.

I don't think your assumption is correct. Let's say it's true that every sector don't adopt the internet-style of doing thing, but does that means they can do their business efficiently? I doubt that. For those who don't know the internet or tribal people, they don't even need it do they? I mean, they don't even need to use the internet at all. But of course they can learn and know about it, and hopefully it will help their society to progress further (we can debate what 'further' means though).

Saying we can kill the internet is too simple. The damage of doing such thing is probably greater than stoping some currency to be widely used via the internet. Banks or business in general will stop and no economic activities can continue.

That's a possibility and apart from that we cannot expect a single common currency for the world. Each and every country has got its own economic growth and depending on the same will be their currency value, when they too were given the common value the grown countries won't accept it. For me bitcoin now is a universal currency and has got all the access throughout the world. There isn't much issues with taxes as well.

Nobody can shut down the internet,because internet is a network of servers.Can you shut down all of them?
That's why nobody can shut down the blockchain.As long as there are miners,the blockchain will continue to exist.By the way,bitcoin can be printed on paper.Nobody is saying that bitcoin will be 100% digital. ;D
We already have a global currency.It's called US dollar and it's a pretty shitty global currency. ;D

Nope, I think it's impossible.


Which citizens? What would be its value? Without competition in the market, it will have no value. Do you think it will be adopted by major companies all around the world whos complaint with their own government rules?


Internet base currency will lack the support of normal people. Not all people can use the internet to purchase something and there are still place on the earth that is not within the reach of the internet.

You can shut it down in parts of the world, or even in a country. The internet is centralized at the moment, this is the problem. And something some people are trying to fix. If you decentralize internet, like Bitcoin with nodes distributed all over the world, then sure,,, you improve chances of servers always able to send and receive information requests.

Bitcoin is digital make it on paper does not make it physical,,, or does it? I am confused.

More or so it was a metaphor  the thing is more than 80% of the humanity lives in less than 10$ a day , and I don't think internet is accessible for them.

That section is comprising 80% and we cannot target a global currency for just 20% for them internet might as well doesn't exist.

Clean food and roof over their head is more important.
I understand that the internet is decentralized but what if a country is in a war ??
That would be easy to break all the ties with the world .
And then there are countries like North Korea more or so .
It's weird to think that the currency can be internet based.

We cannot for sure make Bitcoins on paper because then we will have to either convert it whole as a paper and that won't be good , the Bitcoin is not just Bitcoin , it's a trading outlet and making it on paper will kill the global trade it have.

Maybe we can in the future see someone willing to convert their whole wallet in paper 🤣 that will be funny enough, there won't be any trading trust me the only reason it's successful is because we are connected to the world, I am sitting in one part and talking all the way down till the poles , we cannot just roam around street to street with our paper Bitcoin asking people * hey am gonna sell it this week, are you willing to buy , lemme check the price online *

It will be so funny 😂 and thus I guess impossible
And I agree with shutting down the internet part yes it's bit of a trick but it's not impossible to be honest 🙌😁

Why would we go in that direction?! Let`s start to be honest to each other, let`s make better communication between people, let`s help everyone who needs some help. Can we live in peaceful world? Where nobody will shut down each others, where you will be able to travel without problems will someone kidnap you or take your body parts. Can we live in the world without wars?
When people of the world become united we will see better days, for that we need better communication, we need to be more connected, who else can help us with that than internet and blockchain?

I don't think that's a good idea. The forex market is currently very large and it is joined by many people around the world.
Besides, having a common currency will not bring a positive effect. developed countries will no longer want to continue to grow because they will contribute to the whole other country even though they contribute little.
This is a pretty bad plan because it has no logical division.

If there would be a global currency it would be on the internet since we don't need people to cross some ocean just because they need money from the one who's controlling the currency. But of course, each of our countries doesn't like the idea of someone controlling the currency thus there's no need for a global currency that isn't internet based. But most country would agree with the idea of using both fiat and crypto at the same time to benefit most of us people around the world.

A global currency can't be based on internet 100%, otherwise it's a currency that will never be mass adopted. Personaly I also don't want to be a 24/7 connected guys to have a payment mean. Without even considering the millions of people who don't have an internet access

It has nothing to do with taxes, fees or similar and you shouldn't care about. You're not living on collected taxes,fees, banks do but that's no more your and our business. If we won't have exchanges taxes, don't worry the governments will surely find a new tax to replace it.

I think this is not reasonable. A common currency will not be able to assess the development of each country and it is difficult to manage GPD or something.
Because financial planners care a lot of data in each field quite well to make new policies to stabilize and develop the economy.
therefore, the common coin is still unreasonable at the moment.

Why it should happen like you say? It is not necessary that global currencies will eliminate taxes. Governments still will be able to get taxes from businesses and residents. The only thing that will be changed here is that those taxes will be payed in your new global currency.

In today's world global currency is a difficult or almost impossible-to-realize idea. Reason is simple, many countries want to retain their financial sovereignty / currency, which is quite understandable. UK is as a member of the European Union always rejected the euro, and big countries like China or Russia will never give up their national currencies.

Internet based global currency is something that can work, and we have it today in form of bitcoin. Problem is to get people out of old habits, from using fiat and banks, in fact from the robotization of a human society who believes politicians, media and governments more than in itself.

Some data show that 45% of the world's population does not have internet access, so for them this kind of currency would not mean anything.

I think the government will continue to look for new sources of tax, to support their foreign exchange, so that every potential business will certainly be made a new law to regulate state tax revenues

To be honest with you, we already had a global currency buddy(Bitcoin) and if you did alot of research about Satoshi mail archives, white paper with research put together by Satoshi as said by Theymos you know that the purpose was to make Bitcoin a democracy global currency.


Alrhough, we some part of the continent where internet is a big deal and we also some people which don't like internet of a thing but we are computer age where almost people daily activities can through the internet.
However, I don't think the entire world internet can be shut down and if this happen then it will be the worlds doomsday.

Yes, every man will be treated equally and will gain their personal freedom.

I think it's possible. However I think there will still be many other currencies floating around.

I envision it to look like the current crypto scene. There are multiple coins each produced in differing ways. Some might be government-backed but they'll be in the minority.

Obviously, it cannot be 100% internet based but think about how much of the global worth economy is already "digital". I mean many people use either debit cards or credit cars or get loans to pay something and so forth so the amount of cash changing hands is getting less and less with time already.

Think of just early 2000's and how much people used cash to buy stuff and think of today, in just one or two decades people changed from cash to debit even for regular purchases let alone credit card. That is just normal life, think of all stocks and shares and Forex and derivatives or whatever its called and you got yourself a huge huge difference between money that is cash and money that is just on paper on someones screen. So, bitcoin do not have that challenge anymore not because it broke it but because it was already broken when it existed.

Hope you have heard about bitcoin. :P

Bitcoin is created for the end user to have full control over their asset rather than trusting a third party or any government. Bitcoin does not have exchange rates for sending transactions around the world. ;)
 
If you are sympathizing about tribal people for not having the advantage of bitcoin, ask your government to provide better health and education for these so called tribes and make an effort to bring them to the forefront so that things will be easy. Shutting down the entire internet is not possible, there may be some outrages here and there by cable breakages under sea, other than that it is fine. If there is no internet for one day, just imagine how a country will perform and the huge loss they will encounter because of that as everything is connected to the internet, not just transaction, the entire country will be frozen. :P

Thank you for asking this question in a very structured way!

You are talking about "one currency one world" movement! If you think it is gonna happen then what can be the best common platform for all countries? The answer is Internet!! There is no other common platform available for the world for such big scale initiatives other than internet.

Even though I don't see it happening in my lifetime, but if this happens, there will be pros and cons like every other great change and the human race will have to exist through that! But I don't see it happening without the internet.

Also the chance of shutting down the internet will be wiped off because then powerful cointries and UN will be more interested in protecting the world wide internet cable the way they protect their borders now!

Actually it is a very good sci-fi movie idea! You may want to register the idea.

The system of using currency globally / universally in my opinion it would be impossible to walk because there are more obstacles and also negative impacts compared to the positive impact. We can feel now that with hacking crimes, this will actually make the problem bigger

Is there any other thing that make the world a global place if not computer and the internet so if the countries of the world wish to adopt a global currency then there must be base on the internet and that is the only way where the world is brought under one global network of computers. That will cut the exchange and the values of money will be equal.

The only chance that we can have a global currency for this world is the internet based currency as there will be no control from any country based on blockchain.
FIAT can done it as there will be an issue on whose country will be the creator of it.

When we have some as authority of the global currency then what is the purpose of making one.

I don't think it is possible to make such currency without internet and blockchain based.Just announce gold as the accepted currency everywhere which is the only option.

We already have a lot of currencies that are used by most countries and can be considered world currencies.
World currency can hardly be based on the Internet. If it is a generally accepted world currency, it should have guarantees of security, stability, security, and so on. The currency that will exist on the Internet cannot meet such criteria. In any case, a decentralized cryptocurrency can hardly be a world currency. I admit the possibility of a world centralized cryptocurrency of one of the most powerful state or union of states.

The internet is a fast growing industry but does not yet cover a 100% of the total world population so basing a global currency completely on it would deny a certain number of people access to it.
Fiat currency as it is, is quickly adopting cashless policies and easier transactions through the Internet

And its called bitcoin. We are soon to be recognize around the world and for sure motr countries will agree on this. Its hard to have a one global currency because every country have their own belief and the power to create their own. This market can’t be control by any government, so i also believe that in order for us to have a global currency is must be base on internet.

Of course there is no need of having usd, euro, gbp and so on, all of them are backed with gold at some point, yeah? So let's make major what's in common and once was a major currency in past. I don't mean to make gold major but one global currency which will be backed by it.
But this won't happen, why? Because a lot of money is made in trading, inflation and so on, for this reason governments have huge benefit and don't care what are pros and cons for people.

Governments can adopt every piece of technology they want to provide a better overall experience, but what they don't do is stop the endless money printing, and this is where Bitcoin will always be an amazing alternative. If it isn't an alternative as currency, then it is as store of value as digital Gold.

In the end, I do not see value in one global currency. I like the fact that I can choose to use different currencies depending on the situation. Locally, fiat is super convenient and enjoys 100% adoption. Bitcoin is more a value transfer tool and an internet currency, which is very important too, but we have to admit that Bitcoin very likely won't ever have a globally accepted fixed unit value.

I can walk into any store and spend €1000 and get €1000 worth of goods. If Bitcoin tanks with 5% on the way to the store, you either have to add more Bitcoin to get your €1000 worth of goods, or you have to use fiat. If you think about it, for most people it makes more sense to skip Bitcoin and use fiat directly.

All our current currency is not backed by gold, its backed by trust on our government. Thats why central banks always print money and they call it as QE. Our currency is not internet based because it still controlled by central banks and the different between crypto is cryptocurrency is decentralized cryptocurrency and backed by secure network

We cannot integrate a universal medium which stems from the internet itself due to economic barriers surrounding the world. This would mostly affect the underdeveloped countries and their capacity as others do not have access to such.
Assuming that we have a global currency which is based on the internet, transaction fees would replace the conventional tax and other related fees. We cannot escape taxation as it is an integral part of a country's revenue to fund almost everything.

Many developing countries has no access to internet and that means there will not be able to used the global currency.  I think the way we are now is still better and since the political system and politicians will like to have their control over the financial situation in their country I strongly believe that they are not going to allow that to happen.

Exchange rates will still be present and we won't have a single unified currency, but I'm pretty sure USD would be dethroned in the coming years. It may not be bitcoin or any other crypto, but it will act like what the USD is doing today that's for sure. Knowing how many countries are there and how many wanted to claim the prime spot, there won't be unity in the near future, or perhaps even in the history of mankind. It's a utopian dream that won't happen as long as people are hungry for power.

A form of money that dominates the others has always existed in some way or form but there is a big difference between a dominant form money and having a single global currency, just think about the level of corruption that is so widespread in many governments around the world and now give to one single government the ability to print that currency, the amount of problems that such a system will bring are incredible and it is something we cannot allow to happen.

I don't think any currency that doesn't have some sort of physical representation would work in the long-term.  What happens when the internet goes down?  How about if the electric grid collapses?  People are going to have to have a way to spend their money, and there has got to be something that doesn't depend on electricity.  How do you think people are getting by in Venezuela during the blackouts?  They're using US dollars from what I've heard, and my guess is that citizens have those dollar coins that the US mint makes that never get used in their country of origin.

Bitcoin is great for what it is, which is a bank-less, government-less way to transact with low fees.  What it isn't is the go-to currency during times of crisis. 

I definitely like the 'global currency' aspect of bitcoin and always have.  Everyone who's in a signature campaign or a bounty here is earning the same currency, and it holds value all around the globe.  That isn't true of a lot of currencies (see: Venezuela).  True, someone could make a physical bitcoin but there are problems with it, and I highly doubt anyone is going to resort to that to pay for things.  More likely, it's going to be precious metals and the like.

Global currencies are currencies that are used throughout the world and everywhere. so it's impossible for all to be internet-based. because not all countries are able to support the internet network, and not all regions on planet earth have internet networks. so international paper money is still needed, namely dollars in paper form, bitcoin is not able to provide all the needs of people around the world because bitcoin can only be used if there is an internet connection.

i understand your point  but from what i observed bitcoin is already supported and being used by majority of the countries  ,  that's why it is already considered as a global currency  .  also  ,  internet is not new and im sure that almost all countries in the world  do already have an internet because internet is also useful for everyday need   .  also  ,  i dont think that usd alone is a global currency because i think every currency can also be consider a global currency because there are money changer/exchangers on every country where you can convert any currency according to your choice  .

I don’t think there are still countries without access to internet, almost all countries, even to the underdeveloped. Niue is the smallest republic in the world and it has Wi-Fi coverage in most of its island.

I have been opportune to visit some poor countries around the world and I realized there are places they get Wi-Fi and they even sell 3G dongles for their citizens that are capable of buying, so if there eventually become an online based global currency, I don’t see much difficulties in its usage. Also like you have mentioned, politicians and political system might want to continuously have control over the financial situations in their countries and so they might go against this.

I believe the world has really advanced and technology has taking over. There is literally no country that does not have internet services and if your fear would that the currency can be targeted or shut down, I think that is not possible. To shut down the internet worldwide will not be an easy task.

The US dollar for example is already considered a Global currency, although it does not hold an official title yet, it is used more on the internet for various transactions than even the cash, the only difference it has from bitcoin is that it is not decentralized and this is what makes Bitcoin has an edge over it. I think having a global currency that is 100% internet based, either in form of Bitcoin or USD would not be a problem at all.

Almost everyone is acquainted with the internet now, it will only take a little time to pull people out of the old system and introduce the new payment method.

When you say global currency, that would transcend national borders. It would include places where internet connection would be scarce so there's going to be a problem there already. And that's also going to be a challenge since many countries would oppose to have a singular currency without their own.

So you mean to have a one single currency for all the countries in the whole world? I don't think its possible. If it happens there would also be a one world government to have a one global currency and if it is global then it must be internet based to be able to move from one place to another to transfer from one country to another but from my point of view it is impossible to happen.

It wont happen even in internet.
It is like wishing for peace in the world which is impossible too.
Too many opinions and people have high prides by now.

Governments which would do anything to keep themselves on the top and would declare war if their currency value falls.
The world started with colonization and so it is by now. Who will vote for one country to be the leader of all? I doubt they will vote something else rather than their own.

Same with internet currencies. Banks would want to dominate it by using credit cards. Then there is Paypal and a lot more option. So conclusion will be: We will be dead and there wont be much changes and even our grandchildren will still see it.
So you should not stress it by now and just use what you can.

of course every country wants to have its own independence in terms of currency. I think it will also be difficult if one currency for the whole world, of course not all countries have good relations, I think there will be more contra

Very vague express and argue your opinion. What do you mean by global currency? The currency that most states would use at the international level has always been. Before paper type dollars, the euro, mankind has always used gold, silver and precious stones. Therefore, do not reinvent the wheel. It is unlikely that a currency based on the Internet can have a global status that would be recognized by most states. As for the cryptoaalyutics, it is not so simple. Let's see what will happen next.

I don't think if we have a global currency it would be internet based, the government needs this money to be able to reach everyone in the world, and for the fact that you have access to internet all of the time doesn't mean that another person somewhere else has this kind of access, so I believe they are going to consider all this and make the currency fiat and not internet based because a lot of persons will not be able to have possession of this money if it's internet based since not all regions has internet connection.

I think only if governments want we can have a global currency, but i don't think this will happen, most countries want to have their currency so they can control better the economy because maybe they are not yet prepared for a global currency.

It's impossible.If a global currency will be, it will be regulation and centralizetion. I think this idea is not real. Many countries have different levels of economic development and wealth. You forget about the countries where are taking place a  local hostilities and political crises . You are talking about electronic payments and the Internet but not one remembered about electricity! Disconnect power supplies and your gadgets will be useless without recharging.

   We have the European union already with Euro. Many countries included and they use same currency.
I know it cannot be called as globality, but it's kinda the brightest example for today.
   All countries of the Unity can basically use crypto currency in future, but I doubt that it will be spreaded whole world wide.
Today we may watch too greedy and powerful people in the top of ruling elite in some countries who will never support globalization and one currency, it's just not in their interests.

Global currency won't work as many countries are experiencing different level of success and difficulties in their economies...and this is quite reflective on variations of different fiat monies we have. This is one reason why the EURO is having a difficulty right now as EU is integrating varying economies into one system. A country's weakness and problems can easily spread to its border neighbors if we have one currency...it is even spreading right now all because we have globalization. Plus there is the question of which country or a group of people that will administer the whole one global economy as one currency really requires this. Truly, it can be impossible to achieve this dream.

Tough question, but how you going to give it to the bank and to the government, no many people accept internet money, it is very much fake, can you called the hell note as money too? They can be traded in the hell but in real life? How about in game money, play station credit, Nintendo store credit? Apps store credit? Apple Pay credit? Consumers are getting so confused with so many type of currency all over the internet, it’s making value pricing very difficult, if you going to sell an item, are you going to list 1000 type of currency price for that item? Too much workload.

I believe that the financial system can not directly depend on high technology. The simpler such a system is, the more reliable it is. If we switch to the use of cryptocurrency and something happens to the Internet, and such a possibility is not excluded, for example, due to the emergence of a new virus, then our entire financial system will collapse immediately. Therefore, we should always have various alternative reserve forms of cash payments and paper money of the states are the simplest and most reliable of them.
However, national cash and non-cash money will continue to exist for many other reasons, and above all, because they effectively interact with the state economy, and the cryptocurrency does not have such properties.

Yes, I totally agree with you. Humanity should not risk its civilization so much to trust one technology, no matter how reliable it is and, therefore, put eggs in one basket. The consequences can be too dire.
Already now, in the near-Earth orbit, a lot of different garbage is rotating as waste products of human space activity and therefore the threat of their collision with launched artificial satellites is increasing.

That can be done through physical means, such as paper wallets, coins, cards, etc.

Physical Bitcoins have continuously been used as cash throughout the years, and while it's still a niche sort of economy that consists of collectors and whatnot, it actually shows that it can work as cash. It's super anonymous since nothing moves on-chain, and for that reason you have the fungibility that Bitcoin currently lacks.

The only thing that needs to happen is to have these physical means be secure enough to actually be used by the average person.

There is no way the future of Internet I have read about  would work without a global currency.
Such global currency would require a single global leadership.
The future of humanity depends on the character of such leaders.


People who refuse to adapt or stay within the system will probably be destroyed?

One of the main problems of a single and global currency would be that we would tacitly accept centralization at its best. And par excellence, one of the main functions of any national central bank is to consolidate the autonomy of each country in matters of monetary policy, and this policy is necessary in the face of the disparity that exists in the different economies of the world, for which I doubt very much that there may be a single global currency whose usefulness and functionality is much greater than the one practically exercised by the US dollar.

I don't think that the different govs are willing to cooperate in financial things. As you can see on the tradeware USA vs China. or the different wars around israel. nobody will agree for one solution. Everyone has an other idea here and there so the only thing we can do is still supporting bitcoin. Pushing companies to accept bitcoin and show the people the benefits of bitcoin and cryptos in general. maybe there will be starting a network by itself without the need of govs. But till we are at this point, we will pass some years.

Of course it requires a very heavy calculation to believe in one technology that governs all global finance, a little risky when they are too innocent to believe in all the risks that exist today rather than not supporting but would be better to improve existing internet technology and security, everything will go hand in hand, I don't think it's time to adopt everything because the system isn't entirely safe.

I agree, indeed requires a process of understanding to be able to use a new technology. moreover the technology is contrary to the current order. but I guess let them judge and finally be able to decide

Having different types of currency to handle all our economic request will really cause chaos which is already playing out in the cryptocurrency industry too, lots of projects are dyeing  just because if the too many currencies that we have in the market.

This is therefore the reason why we all need to embrace bitcoin as the recognized global currency that will override all other internet currencies in the world, which will be used by those who wishes to operate their businesses on internet while fiat works for businesses that are offline, this is why our dear satoshi created crypto as alternative and not replacement.

There's nothing like having a global currency, even the benefits you have mentioned here doesn't make any sense to me. It is best the way it is and there's no need for anything. I'm okay with cryptocurrency and it serves more as an investment and not really much a mode of transaction, and it is best this way not so many are into it. The reason why I said this is because if lots of people happens to get involved in cryptocurrency, then it is going to make the government to shut it down and they are tackle everyone and start tracing everything to your bank and to where the money is coming from.

It will be possible mate one day, and I will tell you why,  it’s not that there has not been attempt to create one, just that such suggestion is being suppressed underground by some powerful people who would not let that happen.

Before Gadhafi was killed, he clamored for a currency that will be used in Africa generally and that is why he tried creating United State of Africa which was duly suppressed and led to his death.

I am also very sorry that I am bringing religious into this section, I am a Christian and there is a part of the bible that already prophesied that in the last day before the world becomes doomed, there will arise a currency that will be used globally, and if God had already prophesied, no matter how hard it looks to us, it will come to past. 

Thinking internet as the problem is wrong in so many levels. Unfortunately there are still couple of tribes and places that lack internet connection but you do not need that to become a global power. Yeah dollars could reach as far as world goes but if you can manage to make bitcoin used and loved by everyone who has an internet connection, mobile phones with wifi and all that then you are already over 99% as it is. Why would something need to be %100 to be the real thing?

I am pretty sure there are some islands in some Australian parts of the world where not even money is fully used, people probably just live like a tribe and do everything and eat together and basically have no need for dollars, which means even dollar is not %100 fully and that is why you don't really need to be %100 to be global power.

Since the world consists of nation-states, each country has its own currency and countries like the USA and Germany will not be willing to use the common currency during the cold war in the 21st century. Even if the common currency is used, no economic problems in the world will be solved because of the income distribution problem among the countries.

We already have world currencies for a long time. These are dollar, euro, Japanese yen, English pound and some others. Such currencies are used in international payments and for this they must enjoy the confidence of states. Cryptocurrency will not enjoy the confidence of states and, moreover, it has a high price volatility, and this makes calculations very difficult when implementing long-term contracts.

right, with shared currencies, of course, the countries that use it bear inflation together as well. so as if there were no economic problems in each country. and indeed, state wealth is different from the level of distribution

Global currencies have been around for a long time. These are the currencies that are used in international payments. These include the dollar, euro, ruble, pound and others.
Governments will not massively use decentralized cryptocurrencies for international transactions due to its high price volatility. It is possible that they will use their own cryptocurrency for this, which will be more like stable coins.

Look at what I said:


There are hundreds of people who do not have access to the Internet, and not even electricity. So access to cryptos is not very favorable for them.
Similarly, there are hundreds of people who do not have access to a bank account, so the purchase of cryptos is quickly restricted.
That is why we often say that Bitcoin can become an alternative currency and not a replacement.

bitcoin was created for that purpose, becoming a global currency in the whole world, that is very possible.
but nowadays it is not easy to realize it all with all the problems that are always associated with bitcoin making bitcoin disrupted to achieve its primary goals.

This is correct. Bitcoin is already a global currency since you can send and receive it from anywhere in the world s long as you have an internet connection available. It is not tied down to any country or people.
I know you mean glocal acceptance in the majority. I don't think crypto needs the majority of people to use it. Half is good enough. I do think that number will close though until almost everyone uses blockchain technology.

As per Twitter Ceo statement he states Bitcoin should be global internet currency for future . looking at present adoption we can see bitcoin may see future adoption to masses

money is not everything that is the only reason it will not hundred percent internet basically because the money culture will be created in recent times only before that no one will know about how a current she is and this is also one of the reason why not been internet based.

the most difficult thing is to create a financial system that is structured as a whole in the internet zone, as long as there are no developments that are full adaptations, it will not be able to be reached easily in total.

But crypto has actually provided an answer so far even though it is not a massive move that is measured by the government's consolidation, because this will continue to evolve with the existing system even though it is still conflicting.

See this is why a global currency won't work because everything will be dependent on each country, if you think think that the world will be moving forward because we unite under one currency then think again, with this kind of system we are at the mercy of the top 1%. Inflations and other economical problems will still be there. And if you are thinking that BTC is by definition of a global currency that is why you made this thread then think again, the value of BTC is still valued under the fiat system that is why they are letting it co-exist in our world now.

We cannot really judge now were bitcoin will be and what will happen as par it adoption in the world financial system. I think bitcoin should be able to be used as a "global currency" blockchain has proven to be a system that is safe and can be used in both security and speed and that is what I think can replace the current fiat system we have and it will create equality.

first of all, having a global currency is impossible because people have their personal needs and this takes it to very high and sensitive topics anyway. secondly, if we have virtual currencies as global currencies and no faint then it will cause a lot of problems as because we know that many altcoins die every day and many markets face more than 30% price fall so many people will get affected by the price. and I know there are a lot of benefits too but disadvantages are still more than benefits and some issues are very serious.

It is a great vision but I don't see it from happening. Pride, history, political reasons, there are a lot of reasons we can say that's why this will never happen. To be honest we can now call it our global currency since we can make transactions in any country that this is accepted without any exchange or third parties in that transaction.

In coming future, we will have a situation when you must use internet or have internet or you will not have anything or use anything so internet will be everywhere everywhere where people live so it can be internet based and must be i say.

it can be said that going to become a digital currency is becoming more popular, in the future it looks like internet usage will be the most important thing because by having an internet base every transaction can be completed quickly and of course it is a dream in a digital era like this

The world is constantly progressing and technologies and ways that we once never expected to work and people use are now essential part of our lives, like for example credit cards it was only something used by few people and businesses mans now it is in every person's wallet and they use it to buy everything, and today most people use the internet for basically everything they buy food cloths and even use transport through apps and digital money they no longer need to use physical money, i understand that in some areas  where internet does not exist this seems that is not going to happen for a while but with Elon musk and mark zuckerbrug sending satellite to provide internet all over the world this will change and everything will start moving towards digitization, just give it 10 more years and you will see.

Having one currency for all will certainly benefit developed and especially developing countries. But I doubt it will happen unless one country dominates every country and can impose laws and govern on every each of the country or become one. in the end what preventing this one global currency is politics and agendas of every existing government today.

There is no way we are not going to have one currency globally. I personally believe it may take years and it may take a lot of power and issues but in the end we all gonna end up with the same money all around the world and the big candidate is dollar or euro.

Look at euro for example, it is the same currency in many nations and all of them use the same currency without any problems at all, of course there are economic issues risen from the same currency thing but I am sure that is worth the loss in its profits. If 20+ nations could use the same currency and switch borders without care and basically live like a whole nation together then why not make it for the whole world ?

Maybe we can do 5 currencies total instead of just one to start with and see how it goes but currency for each nation is silly and will be done very soon.

but why not ? bitcoin is one example of a global currency because its online and all people all over the universe can use it without restriction ( because again its online ) if you country restricts you from accesing bitcoin/crypto sites you can still use vpn and other internet tools to bypass the restriction  .

cryptos and other online payment methods are more suitable as a global currency compare to non internet based currencies because you cant obtain them easily and not all merchants or people will recognize it  .

It's only a matter of time before the Euro fails. You're basically asking for problems if you use one currency in a continent that consists of very economically weak to strong countries.

Just look at what happened in Greece years ago. Currently we're not far away from seeing Italy follow the same path of destruction. If you think Greece was bad, then prepare yourself for what will happen to Europe when Italy implodes.

Direct result is that the weakest banks in Europe with significant exposure to debt in Italy will be triggered to implode too. Deutsche bank is an example of that and it has already a lot of problems without Italy threatening its existence.

if developed countries hold a very large volume compared to other countries, it will certainly be an opportunity to regulate market movements. and I think the government must find a policy for the monopoly

I am thinking of you, where I feel that to make a 100% internet based currency here still has a big negative side, unless we really are in the world where 90% must adapt to advanced technology, which we inevitably must follow the development of these technologies. For global currencies, I don't think well, if you say bitcoin is also a global currency because of its users in various countries and not limited by government control.

First, a decentralized cryptocurrency is unlikely to ever be used by all states as a single global currency. States can not rely on a "no-man" currency, which, moreover, is not secured by anything and is subject to high price volatility. Secondly, the global currency is also unlikely to "work" on the Internet. The financial world will then be very fragile. Any catastrophe that will even lead to the temporary disappearance of the Internet, then hello to a complete financial collapse. I do not think that states will not take this into account before risking their economies and switching to settlements in such currencies. The financial world just likes stability.

We do not need a global currency we just need a digital currency, right now we have a global currency that is %100 internet based, its bitcoin (well others too). I mean what do you mean by a global currency, the fact that governments should accept it? Well governments don't have to accept it, can I go work in Europe and earn some euro? Yeah sure I can, can I then buy bitcoins with it? Yes I can, then can I go to ANY country in the world and cash out my bitcoins? Yes I can.

This is the real proof that I can spend my euro that I earned from working in Europe in anywhere in the world, hell I don't have to go there personally, most things are sold with bitcoin now so I can just order something from anywhere in the world as well. As you can see we already have a global currency and its totally 100000% internet based.

That sounds good to the ear to know that twitter is also a believer of cryptocurrency, I see that virtually all social media is beginning to see how beneficial the adoption of cryptocurrency will be too them too, and I think the only one that is left among them yet to fully accept cryptocurrency is Google cooperation and I believe that we need them so much in spreading the awareness if Bitcoin is to become a global currency.

The technology of crypto is pure going to be an internet based one, if we consider those who are still yet to be in the loop for technology, they might continue with fiat, while for digital payment using crypto is best over the internet.

As time and technology develops, everything will be based on the internet and to fulfill it all, maybe that's the reason why crypto currencies are created to keep up with the times and technology with the economy

As for now, we can consider Bitcoin as our only global currency so far because there are lots of factors that a global currency will not going to happen. If the world wants a global currency i think it's Bitcoin since no one is controlling on it but the problem is that it is not stable and is subject to high price volatility. I don't think any country would accept that if there are whales lurking everywhere.

Not all of the country can support that way of living. We all know that the future is leading there but not all can do that. I mean there are a lot of third world countries that will be left out. It is true that they can just do things to catch up like making a lot of wifi hotspots or making cheap devices but I don't think they will prioritize that since they can still do things the usual way.

I agree with you. I acknowledge that the development and benefits of the Internet are great in the present era. It is very helpful in handling tasks that become faster and many other services become better.
But to have a common currency and need internet for payment would be a big problem.
not to mention people in the mountains and old people who don't know about technology and the internet.
It's not really the best solution, I think our world should still have fiat money and electronic money.

In nature and in function, Bitcoin appears to really be worthy to be called global currency but cannot carry that title until it is uniformly agreed upon by majority of world government for it to be used as global currency and there are some things that will be put into consideration before it can be legalized as global currency, we will get to that point but I doubt if they are willing to do that now because of its decentralized system, and the digital currency you talked about is already in Bitcoin too, and I think what we just need right now is to push for awareness for Bitcoin to take it’s full position as digital payment.

Dollar can be considered as a global currency used many countries in their global trades but if you talking about global currency that is used by all nations as their de facto currency, I think it won't happen. Countries had their own national currencies that often symbolizes their national identity as a nation. Rather than digital fiat as global currency, I preferred bitcoin as an internet-based global currency because it is a decentralized one and can't be controlled by governments and central banks.

Definitely, there will be a time when the world will spend one common currency although there individual country currencies. Having a total or 100% internet based currency will be a problem for now because there are still some areas or countries in the world which do not have internet connections or other computers to access the internet especially in some remote areas in Africa. The people in some of these areas cannot read and write hence cannot access the computer neither the internet even if they were to be available.

I don't think an internet based coin is something that will completely take over. The majority of the world only knows cash, and with that cash they have credit cards. And in knowing cash, they're not going to want to give up having some in their pockets, and buying little things here and there. Give a neighborhood kid a dollar. And hundreds of little things that they can do with cash.

Generally, those old people and the ones on the mountain will someday face out completely as the world continue to grow deep in technology, let’s take a look at the gsm, prior to when gsm was invented, if anyone had told people in existence then that GSM will go this far to the extent of being used by those old people you talked about, they will absolutely doubt it, but as people gets exposed to it day after day, it became widely spread till it became a part of the world fully, so as Bitcoin may be too in the long run even if it is not our generation, but global coin era can really be achieved. It may not just be in our time, or even in the time of our children.

There will never be one global currency in the world. That involves the elite of each country giving up power. The name of the game is power. Do you think they're going to be, "Oh it's a good idea because then there will be no exchange fees."

Plus wouldn't countries that are doing bad weaken the value for countries that are doing good?

Indeed, it must be recognized as an advanced technology the internet can be the basis of financial transactions throughout the world. But please note, the internet has not penetrated remote areas or far from the reach of telecommunications signals, so that internet-based currencies cannot be used.
As a reference, of course developed countries and their areas are connected to internet networks that can conduct digital transactions because their facilities and communities are adequate.

We have the concept of an international currency, that is, currencies that are used in settlements between states. In principle, any national currency of a highly developed state can be considered as a global currency that can go around the world.
I do not think that in the near or even distant future we will have only one currency for financial settlements. Each state will always have its own currency, because it is a mandatory sign of statehood. However, if only one currency would be accepted for international use, it would not in any case be a cryptocurrency.

A common mistake that people make is to think that governments would care about what people want and what would be better for their citizens. If that was the case, Bitcoin would have been a global reserve currency. Remember one thing, government salaries are paid with taxes and tax income are generated from transactions that are done via foreign exchange services and Bank settlements.

They will never allow technologies that would kill their tax cow and governments also know they can manipulate the value of Fiat currencies to balance their economy, so they will never allow a global reserve currency that they cannot manipulate.  ::)

I don't understand why people think that humanity will still choose paper money over digital when most of our lives became digital to begin with. Of course we will probably never be 100% digital because I believe we will always need some paper money or something close to it.

However, the reality is that 90% of all money is probably digital already, you may think we are only considering the money in peoples bank accounts but that is not the only money, all those stocks and investments are digital as well, do you go to a bank and buy a paper stock showing you own that stock and give them cash? No, you send money to your bank account and buy stock digitally and that company sells their stocks digitally and receive the money. Hence all in all worlds money is already digital, why insist on cash.

I'm pretty sure most people in modern economies are in favor of digital money instead of paper and metal money (at least, in my country they are). The thing however is that it's hard to part with physical money entirely because people are so used to it.

Another thing is that physical money offers people anonymity, where using digital money in form of PayPal or debit/credit cards are traceable and you can be monitored by government agencies and insurance companies.

I remember a case where someone was denied healthcare insurance because that person seemed to have a very unhealthy life style based on the things he eats and drinks. I think that's a very important reason to keep using physical money.

The diversion in currency is based on different countries and governments. In every country/government there is a certain currency, in order to have a global currency, there should be no differences and barriers between countries thus there should also be one government to avoid conflicts. In my opinion, if these happen, one government and one currency, being internet based of this one currency will still be relevant, since there are transactions made online like sending and receiving money from one location to another, online shopping and other payments made online and other related transactions.

The simpler the currency for circulation is, the more reliable it is. Therefore, a global international currency is unlikely to be based on the Internet. Although nowadays most of the payment systems work using the Internet. High technology is very vulnerable to various disasters and natural disasters. In order for the financial system to work effectively in different conditions, it must have different channels for transferring the means of payment, and not only with the help of the Internet.

We have global currency. It is called USD and is main global currency for 100 years. Such currencies are also called a world reserve currency. Next one will be peer to peer based.

agree with you, despite the actual ego and strength in every country that makes the world unable to have one global currency. EURO is one example of one global European currency, I was very impressed with the cooperation of European countries.

and for global currencies based on 100% internet, I think it is very impossible because the internet is still very vulnerable ... different if the global currency is crypto-based and blockchain, it would be very safe  ;D

Mesh networks are catching up real fast. Then we also have the Blockstream satellite that will enable people to access Bitcoin without an internet connection. It's definitely not mass ready in terms of adoption, usability and convenience, but at least it gives us a glimpse of what we can expect in the forthcoming years.

The positive thing of there not being mass adoption yet is because it's still going through its initial speculation stage. People aren't yet interested in spending it, not interested in fast and cheap transactions, etc. Great for Bitcoin because it's being given the time to actually scale. What more can you wish for? ;D

Technology is one of the thing that brings revolution to the traditional system of doing things. With internet more and more amazing services will be evolved on a daily basis. Internet is one of the thing that brings several people from different regions or environments together. I don't see any reason why the global currency shouldn't run on internet because engineers are working daily to achieve a fast and reliable system..

Of course internet-based currencies will not be able to be applied simultaneously throughout the world, because each country has problems with the internet network, especially in developing countries.
In developed countries, maybe the internet network is not a problem because the infrastructure is good, so that internet-based currencies can be applied but still as an alternative. The main currency remains fiat because it is physical and is easy to use for all people. Besides that fiat money is easily monitored by the government.

I do see this topic of global currency and all that as something stupid. Like what makes you think that there is ever going to be something like that? You do know for sure that having such a thing means that only one government will be in power and that country with the power is going to oppress those who are not in power.

So, I see this as foolishness and it is a question I hate discussing. Such a thing can even give power to racism, that’s if the government power is placed on a country where there is too much of that. Cryptocurrency alone is already enough, saying you need Something else apart from this doesn’t mean anything. What else do you want, when you already got cryptocurrency.

The world can’t be sharing one currency, stop asking annoying questions.

In order for people to change their views on digital currencies, including cryptocurrencies, at least one generation must be changed.  I believe that most of the population of our planet is not ready to use cryptocurrencies in everyday life, because not only do they lack certain knowledge and education, but they need a completely different mentality.

I believe we can have a "global" currency but it's still going to get taxed and such because states would hang on to their fiat currency by just migrating them to digital. I don't think they'll let go of it easily.

It's probably going to be our current situation with bitcoin and various alts except with wider adoption and these cryptos integrated into the economy. The only time there can only be one absolute global currency is if every nation ditched their fiat and enter a union a la EU.

The world currency should not directly depend on the degree of use of complex technical means. Technique will inevitably fail periodically and make the world financial system dependent on the state of operability of this technique will be stupid and shortsighted. In addition, the world currency can hardly be a cryptocurrency. Cryptocurrency can only be an auxiliary financial asset in ordinary currency. The global financial system can also be based only on real economies, and not on virtual values ​​that will not be provided with anything.

I doesn't make any sense because of its hindrances but once it was all properly addressed then cryptocurrency could be the biggest and greatest change will happen to humanity. However, it so frustrating to think that world adoption have a very big chance that not gonna happen at all. Like what've you said, the concept of global currency wasn't well recognized. We are all living based on the standards within our boundaries, there's no unity.

The reality is that not everyone has an acess to the internet and not everyone has knowledge about it. We can't always rely on the internet since it's not always available specially if we're not reachable by the internet service provider. No matter what happen, physical currency is still needed specially by small people who can't or doesn't have a time to connect to the internet.

We don't really need to be 100% though? I mean if we can reach even 5% of all currency spent to be crypto that would take bitcoin and all others into literally trillions of dollars easily. Right now we are not even 1% and we are already over 100 billion dollars (close to 200) just on bitcoin. That means we just need to increase it a bit more, just having 5x on adoption would ripple down to trillions of dollars in bitcoin market cap and tens of billions of dollars in transactions.

Of course, we also would need to figure out a way to keep the transaction costs lower and speeds faster while we go up in transaction numbers but that is more on the developers hands than us and with the segwit and lightning network getting attention if we go that big then those will not be alternatives but be the standards.

This is why we believe that the issue of global currency might not be achieved right now and I think this is why the government are not also pushing for it because of the technology involved, and the government knowing that money is already a problem, they will not want to create global currency out of it other than the popular usd that we are all using.

In as much as the intention of the creator of cryptocurrency is right, there are some things that are not just achievable easily like that, and I think he never even meant that cryptocurrency should even be a global currency, he just wants a system that will be an alternative to the physical cash in other to make things easier for those that are finding it hard to make use of the popular fiat easily.

If that currency tends to be global then it should be equaly accessible to everyone, no one shouldn't be excluded.
But you forget that not everyone has internet access and those who have don't have equal speed and quality. So, it's not that simple and if you ask me it's actually impossibe, at least at current stage of new technologies accessibility in the world.

The worst problem here is that they don't even know how to use or even access the internet. In our country, there are still a lot of people that can't use a mobile phone correctly. We are still in the phase where phones are still new, there are still a lot of poor people here. If they can't even use these technologies, having an ISP does not matter. That is why fiat or physical currencies are still needed, it will be a long time before these people keep up with the technology.

it can . local currencies like for example usd can be used globally on almost any countries because everyone recognize this currency   . it can be accebsible to everyone because there are money changers for every parts of the world or on any places  ( thats for sure ) you can exchange your currency to usd or usd to local currency  . and currencies like usd can also be internet based because there are payment method online like for example paypal are suporting usd or any other local currencies  .

Before making plans for making cryptocurrency the most global currency in the world, you first need to make sure that the Internet is available in every corner of the world.  This is the first.  And the second is the education of people, thanks to which they will understand not only the capabilities of the Internet and cryptocurrency, but also other high technologies that work for the benefit of mankind.  In any case, today I’m sure that more than half of the world's population do not even understand what cryptocurrency is.  And if you take into account the number of old people and children who do not use the Internet or mobile applications at all, it is still too early to talk about whether to globally switch to cryptocurrency as a means of payment or for its massive use in everyday life.

The thing he do meant is on having that global currency as a single not having those multiple local currencies that we do have now and having that single one wont really be that possible yet come to think that each country wont really collaborate to each other and has their own jurisdiction.Own local currency does symbolize its power and economy this is why having a single currency is hard to think off.Also this will result to hoarding up as much as they can yet we know that a country that had much more holdings of this fiat single currency would be considered to be the most powerful among other nations.This might sounds very interesting but this is somewhat complicated to be implied on.

So you are saying there might be people in the future that doesn't use the internet? Lol, you are wrong here. People slowly starts to adopt with everything around them. Look at people decades before. Only few of them used the internet. And now look at most of the people. They all use the internet. Same thing goes for the smartphones. Just few years back most people preferred to use the old mobile phones but now we can see everyone using smart phone. Similarly, everyone in the future will become internet dependent. They will know how to use the internet from the very beginning of their years. Similarly, they will start adopting the usage of crypto currencies.

Because there are so many locations in the world without the internet and you can't make an exchange without it. And we have a lot of underdeveloped countries, where the number of people who know the Internet is minimal because they do not have access and learn about it. There are many reasons why they cannot implement in practice.

The global currency cannot be completely dependent on the Internet. That would be very risky. In any environmental disaster that affects the normal operation of the Internet, our world will suffer financial chaos. Such an opportunity should not be allowed, even if it is minimal in probability.
The global global currency must be very reliable and provide for various types of its circulation in order to prevent various possible risks.