Bitcoin Forum

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What if bitcoin as cryptocurrency didnt work? Do you think this kind of currency would be better?

A dream of having a single currency to be used worldwide is what bitcoin is made to. A currency that doesnt need to be converted into different local currencies with different values. If crypto fails, this idea can be better. If we can produce a coin that doesnt need to be converted and can be acceptable worldwide then its like crypto and fiat fusion. What is the odds?

- Who country will produce this?
Since we have worldwide organizations, it can be decided that way. Maybe China since they are just against crypto and maybe they want it more. They are the most capable of production anyway.

- On what value it will be based on?
I dont know much about this one but if im correct, it will be also based on worldwide economic aspects. Since it has only one value worldwide.

- Isnt it effective since the value of money is different on all the countries?
I guess so. Economically speaking, it will take years of research for this kind of project to succeed. There are a hundreds of things that should be considered. If all nations will be equal, then i dont think there's a problem in this.

What do you think?

One of the many things that bitcoin become very attractive to many people is that is it is in digital form...take that property away and you are just creating another fiat money not so dissimilar to what we already are using. In other words, there is no new innovation in there and would not make any sense (at least to me). In case bitcoin will eventually fail, the best alternative is to go back to gold -- real gold coins otherwise we just return to the normalcy. Plus you suggest the idea of involving China in making and managing the coins...that is blasphemy to say the least (lol). But I do appreciate the bitcoin image above though it is looking like a silver coin.

One world currency? we'll starting to be there at some point but you know that it's all about the government. Whatever they say, it's going to be the one that will be followed by the majority. China and US has trade war today so considering that if this will happen, it's unlikely. I don't think that we need one that will be produced by any country. We need a currency that everyone will agree to use it, I don't think that we'll find something else better than bitcoin.

I don't think it's going to happen, not every country are in favor of Chinese policy, I don't think the US and the European nation will favor China producing a world currency, nothing beats Bitcoin because it has no country of origin, it cannot be controlled by any nation any companies and it passes religion national and colour and philosophy.

then it is just another currency but the difference is that it has BTC sign on it. besides the reason cryptocurrency became popular is because of the ways you can use it and the feature that comes with it
and it is controlled by any government.

What's that fake coin with the bitcoin logo on the image?
I've seen people selling this shit for $$$. ;D
It has never been said by Satoshi that the ultimate goal of bitcoin is to become the one and only currency of the world.It's impossible to happen and even the bitcoin core users don't want it to happen.

Bitcoin coin? That's more like fiat and not digital just like the bitcoin and other cryptocurrencies are.
There also cannot be a single currency that would be used world wide, nations differ and all have their distinct currencies, I do not forsee a time when the world would all use one currency, it's impossible.

And bitcoin as a digital currency hasn't and wouldn't fail, so I do not see the need for the suggestion, one that is practically not even feasible

Dont worry about the coin. Its just a commemorative coin i guess and sold as a souvineer, collections, toys or if you want to have that. That doesnt have any value and just a representation. Since if bitcoin does have a physical aspecta then people wouldnt be want it anymore because they will not become anonymous but one currency for the whole world ia better isnt it? No discrimination. All equal.

Bitcoin is already enough. No coin could reach its achievements so another international coin wouldn't work if it will only begin and develop this time.
Bitcoin has been through a lot and is continuously developing so I don't think we still need another currency.

   The whole society is moving to digital monetary system and you seems have been stucked in the past by wishing to hold in a hand a physical coin of Bitcoin.
   And what is it "1 Bitcoin cent" at all?! Such thing doesn't exist, because of bitcoin consists from satoshies or mBTCs.
The coin from the picture is just someone's fraud.

Your question about who's going to produce is somewhat very confusing. Bitcoin is decentralised, meaning there is no authority whatsoever, so I doubt it will be successful. If in it's first year of existence and Bitcoin didn't survived, I think it will be replace by other crypto until we find someone that will take this cryptocurrency to the next level. Good thing that Bitcoin survived because it has became the torch bearer to say the least. And moving forward though, there's a lot of debate surrounding the whole single currency scenario, personally maybe in the next 50 years or so we will have a single denomination, but I don't think it will be Bitcoin though.

Bitcoin as an online currency is already enough, making a coin to circulate in the world can easily be imitated and we might see some fake coins in circulation since it's hard to verify it, and anyone can make it as we don't have a central bank to do that.

We cannot imitate the fiat system, we have our own unique way as crypto is decentralized and just an online currency.
With the blockchain, there is a trail in every transaction and its open to the public if anyone shared the address.
Physical coin, it's just impossible to track its movement and to verify the circulation in the market, that's the big difference.  

We don't need any coin inspired by Bitcoin. What we need is massive adaption so countries would notice and recognize the importance of the decentralized blockchain technology. Bitcoin has been playing a vital role in our society so I don't think any coin could replace it anymore.

Its simply impossible as you said, what is the value coming from? How do you even start? Bitcoin is already accepted in many places and yet it still needs fiat pairs to work and I just dont see how will ever not need them

Will not happen, i think bitcoin will be used as is now, and mostly we will have USD and EUR which will be used on most countries, and we will not have single currency.

It would be best for Bitcoin to remain digital which is accessible by everyone. I don't want it to be a single worldwide currency because it would only make conflict unto who will control it or benefit from it's circulations.

Now the whole world strives to internetize. There are more and more jobs that are related to the Internet and online learning. Accordingly, the digital currency is much more convenient than the paper one. Bitcoin should definitely remain a digital currency.

Now that we have the notion and the initial start that Satoshi gave us, this technology can only go forward.
I don't think that Bitcoin is prone to fail. It will keeps evolving till it will become a perfect ecosystem that will make us add value in our real life.

If this so called "one for all and all for one"  is true we could have been one country already.  But no, every country have the aim of dominating the world in any aspect especially in finance system.  So I guess, it is delusional to think that a world will use one currency.  Even if majority agree, there will always be an opposing sector and won't follow the majority.  So in reality, the whole world using one currency is an impossible dream.

I don't really think that it would happen I mean the single currency to used worldwide.
The government would not agree to it every country have their own currency for a reason.
But I like your commemorative coin I also have a physical Bitcoin coin and I want to create a customize coin where my BTC address is on that coin.

I don't see this idea being accepted because a coin controlled by the whole seven great country would be really difficult to accept. One of the reason why bitcoin is what it is today is because it's not controlled by any factor nor governmental bodies which makes it a decentralized coin. I don't see any reason we should diversify to another coin rather let's make bitcoin adoption more popular.

Exactly.Instead of resorting into bitcoin coin,i think we should focus more on bitcoin adoption by the government.For me,bitcoin will not just fail easily knowing that every year its value increases long with its popularity too.More  and more people are already inclined with bitcoin and all other forms of cryptocurrency.

right, the government holds control of a country. so every policy, of course, must be obeyed by its citizens. therefore I think this is the most effective step. and of course the policy must be in favor of the development of bitcoin

There is no single currency on this world and it will never happen for sure. Government has a own currency and they won't change it or even attend to other countries' currencies. As for bitcoin and altcoin just an alternative currency which can be use by people if they doesn't has a fiat money and also I prefer for bitcoin to be use as like that. Other than that, with the current situation as everyone knows bitcoin still considered has a less feasible to be use as payment system because it's fee is really high. Comparing with fiat, we don't need to pay fee for per transactions we made.

but is it really easy for a country to be able to control and operate bitcoin, because the movement of bitcoin is a uniqueness that cannot be regulated and moves up and down cannot be predicted at all. I think it's good to let Bitcoin grow on its own as it has happened so far. and supports so that bitcoin is more stable and moves in a positive direction

I don't think it's possible to regulate bitcoin, because of the decentralized system. no one can control bitcoin except for those who have the most supply of bitcoin. the more bitcoin is spread, I think it's increasingly difficult to control

bitcoin holder amount will make this coin could not controlled.but it still possible to regulate by local government.they only need to issue policy that contain about bitcoin regulation in their country.actually biggest bitcoin holder come from institution.retail trader has less amount.

Yes, but each country has different development and has a different economy. countries cannot equal and use the same currency.
Besides, not everyone in the world knows about the internet or blockchain. So the development and the desire to use only one currency is impossible.

It's quite funny how some people like to ask unreasonable questions. Trust me, talking about one world currency is a stupid thing and I don't even know why anyone would be coming up with such an idea. Just look at your question, a currency that doesn't need to be converted but has a crypto and fiat fusion? That's not going to happen. If you feel like you need to be making use of cryptocurrency alone then you should consider making use of stable coins and no one is accepting those now, people just make use of them for storing their their coins and nothing else. So if you make use of stable coins you're not going to find places where they are being accepted, like for e.g in an online shopping store.

What should be discussed again and indeed in this world there is no single currency and every country has their own currency with the system they built themselves for the progress of the country's economy, for cryptocurrency itself I think there are still many people who do not understand this technology and there , Many regions are lagging behind in terms of technological progress, Bitcoin still needs a lot of time to be recognized evenly throughout the world, Fiat is still the best now for each country and crypto is still largely an investment vehicle for future inventories.

It would be very difficult even impossible if bitcoin would be a real coin and could be used all over the world or even become a single currency. It remains like this and remains the most needed USD and Eur.

For me, it will be also better to see it as it is, in digital formate. Bitcoins can be stamped like fiat, I believe but they will lose their attraction - it will make crypto (!) currency not as safe as it is now.

It won't happen. It's too much to expect. Monetary values are different per country because it depends on the economic status of a certain country. Don't see how it will be possible to have a currency that has the same value per country.

Try to read some basics about Economics 101 and you will understand that even crypto isn't possible to make that.

Watch has things unfold and see if bitcoin will not eventually succeed in becoming a global currency, who would have ever thought before that there will be a time where Europeans will have single currency recognized in the whole of Europe, the only continent I see for now that still does not have single currency governing that region is Africa which Gadhafi tried to create before he was murdered.

It will be possible with time for us to have single currency because eventually someone will come up with such an idea, raise it and government of the whole world will see season why it is necessary and then implement it, but since bitcoin has already been created and known, I think they might pick bitcoin, or better still create a centralized coin.

While the whole world is turning their money into digital form it would be counter productive to actually make a new "coin" and print it out and try to make it accepted worldwide because that would result with a whole lot of centralized issues as well. Why would we want to go back in time instead of forward since we already have a futuristic currency and you want it to go back 5 steps and become a coin instead.

Hell even in today's world we use paper money more than change probably and we use cards (debit/credit) more than we use cash too so if you think about it even without crypto ever existing we are still digital because of banks and you want us to let that go and go back to printing coins. Nobody would accept something as foolish as this and it wouldn't even take off from the idea stage.

Wow that is a good design. I don`t think bitcoin as a coin will work, I mean a single coin will be worth $10,000? It will be easy to loose it or got stolen. Also, they must use gold to make the coin if it will worth $10,000 which will really impossible to happen.

I have been thinking a lot too, how regulation will encourage the government to adopt Bitcoin, but I have not really seen anything that will make regulation possible because of the reason you gave, it they regulate Bitcoin on paper, it will not hold much weight because government will still not have any clue to who uses Bitcoin for a transactions or who does not.

This is really going to be a difficult thing, the only thing they can regulate is cryptocurrency generally and which they must create their own decentralized coin before they can do so, and I think that is why India is planning to create their own digital coin instead of embracing Bitcoin.

I don't think that it would be possible to happen a one currency for the whole world to use,
Bitcoin is made to be p2p to be decentralized to make us free from banks not to take over and be the only currency .
This kind of payment system has been long gone we have done it before in the past we use gold to trade or to pay for everything but back then it isn't just gold that is being used they also use silver ,
If you would look back in the future we already using different kinds of payment in every country and it always work that way even when Fiat take over and now in digital age we could also see it just look at the crypto market we aren't just using Bitcoin but there are also tons of crypto so it is clear that a single currency wouldn't happen no matter what we do.

They actually will Decide to have a global currency only when they aren't actually fighting.
The thing is , it's hard already for everyone to get involved with the other countrie's culture and anything that originated from there.
Let us take an example :-
Which is the universal language ?
English ! Right ?
Since it originated from Britain , countries like China and Japan they actually don't use it , they think they are disrespecting their own culture , therefore it is important to first maintain peace with everyone then think about something else.

Well, having a physical coin of bitcoin isn't that a bad idea. However, the bitcoin is meant and made to be digital and that was the thing that made it unique compared to all form of currencies. You can always put addresses to the coin but for me, it is just a waste of time and money. Since it will always run with a computer/digital. Indeed, a person will not accept a physical coin until he can verify it online. So the point of having a physical coin is nonsense.

Anyone still talking about one world currency this time is a dumb person. The world doesn't need any one world currency. And by the way Bitcoin is not that so important as some of you makes it looks like. Bitcoin wasn't made for the purpose of one world currency, you failed completely by saying that,. Bitcoin was created for making transactions across the world cheap and fast.

There is no place that Satoshi Nakamoto said that Bitcoin was a one currency… it is stated clearly if you check for the meaning of Bitcoin. There is even a video on YouTube that explains that and there is also a post on the Bitcoin official website as well that addresses the purpose for Bitcoin.

I don't think this is possible, every country has its own regulations on their currencies and that is independent. Especially with the US and China, these two countries certainly disagree because they will continue to fight. And if the world only has one currency, which is bitcoin, then what is the price of bitcoin? hasn't bitcoin been assessed through fiat so far? It looks like bitcoin is more suitable to work with Fiat to improve the world economy.

1. What part of Bitcoin wouldn't work ? Any kind of cryptocurrency should be on the internet and not be physically tangible as it will characterize fiat money.

2. If any country would produce this, that would cause more imbalance on the wealth proportions of the world. Can lead to more poverty and wars.

3. Probably the same with fiat. It will all fall down on 'GOLD'.

4. Definitely not. If we look at it, one of Bitcoin's goal is to downplay the use of 'fiat'.

With a single currency i believe it will changes how we see currency right now. WIth a single currency i believe it will based only in trust of the people who are willingly  to use it for transactions and i believe the fluctuation is more into commodity cause we have a single currency that are stable where ever you are.

Till the world ends, there can never be such thing like global currency. Who would initiate it and who are the people that will sign the treaty if someone drafts any. The only country that would have initiated such idea Is also quite arrogant which is America. It is better we forget anything called global currency that will be unified and just embrace our dear satoshi’s currency called Bitcoin.

While government are fighting themselves, the citizens are ok with global currency and if bitcoin can creep its way into every humans on earth that are technologically inclined, then we will indirectly have a coin that will dominate all currencies of the world without any joint agreement by government.

Sorry, if Bitcoin doesn't work then this one is not even going to cross an inch of what Bitcoin accomplished as a cryptocurrency. This is useless, it's a coin and you hold it physically and its not going to fulfill the purpose that Bitcoin was created which was to make transactions across every country easy and quick. How are you going to make use of this coin to make payment, by shipping to the receiver's location!? Lol. This is not going to work so forget about it. What people need is Bitcoin as a cryptocurrency and if not that, then nothing else.

yes its not a bad idea but its a good idea because those physical bitcoins are being used for souveniers .


there are many online currencies out their but the only thing was made bitcoin unique is its high volatile nature .


they cant always do it especially if the coin is small because a public address/wallet address are compose of long text/characters but its not a waste of time and money beause as i said earlier it was only meant for souvenier purposes  .

There is nothing that is still not possible, just that it will make no difference from fiat if Bitcoin is created too in hard currency. The fact that fiat has a paper currency doesn’t mean it still does not have its own digital version too, look at gold too, gold is being used physically  and still have its own digital form.

If they want to create same system for crypto too, they can, just that the physical crypto will not really function same as the way it functions online, they could just make it two option, this is the only way that Bitcoin can be used globally or accepted globally when it has it’s physical form too, which can be managed very well, even if it has to do with internet.

I don't think this will work.

Who will make that coin? So what will be the value of it? The same as the price of Bitcoin? So what will be that coin made of? Plastic? If we will be making Bitcoin a coin, that will matter. If we will be making a coin of Bitcoin out of silver that means that the price of the coin will be more expensive than the digital currency which I don't like. I don't want to carry any coins or paper money with me I just want my phone, that's it.

I doubt bitcoin will become the single currency for the whole world. But he stays digital gold for a long time. Thanks to Bitcoin and Satoshi who invented it, there was a breakthrough in the IT industry, a blockchain was invented that already helps to solve many problems. And as for the single currency, will come up with loans like in the movies, but governments and corporations will still control them.

Physical Bitcoins aren't meant to be sent from country to country, but spent locally in a manner that replicates the characteristics of what makes cash such a useful means of exchange.

The benefit is that transactions are as anonymous as cash transactions because the coins don't actually move, which means that nobody other than yourself and the person you transact with knows that a transaction took place.

People use physical Bitcoins to transact already, so I'm not sure why you are so negative about it. It's extremely niche still, but I have seen enough to know that it can and already works.

I don't think Bitcoin was designed and meant to be some miracle universal currency. It is just one side effect of what Bitcoin is. It is a trackable incentive system on the Blockchain. If traditional currencies had their own blockchain and if governments made it possible, then bitcoin and all of crypto-world would become redundant. However I do not think that would happen. Ever. Although that'd answer your question about the ultimate fiat crypto fusion. Because that is what it'd be.

The idea of a common currency is really good, but the BTC is not for this, so don't mention BTC in this regard.
I understand your idea, if a new currency is born and countries can use it at a fixed price, it would be great. We can travel anywhere without exchanging money, paying orders quickly.
  But who is that challenge who will manage that currency? if it is used worldwide, all countries will be in that organization.
it will be very crowded and ineffective, that is in my opinion. anyone have a different opinion from me?

If a whole digital currency doesn’t work out in this digital era, what makes you think that the physical coin is going to be the one that will be accepted by the people.? Nah that’s not going to work. I will even be among those that will be against this coin thing. First you should try to imagine how possible it is for people to make use of this thing you have here. How exactly are they going to make use of this physical coin?? By selling it? Does that make any sense? For me I don’t really think so. And if the government gets you with this, you might even have a big problem with them.

I don’t think bitcoin will ever succeed in being a global currency but I believe that it can get the attention of at least 40 percent of each countries citizens which is quite enough to make it continue to function well, bitcoin does not have to be accepted by all, the few people that are ready to see it as solution can take it and apply it to their personal life and businesses. Fiat will also always be sustained, and this is what government does not understand.

As advanced as technology is and with the number of banks we have, the number of people that does not save their fiat in bank is even more than the people that keeps theirs on bank and bank is still functioning well with the little percentage of people that keeps money with them, same will be applicable to crypto too, irrespective of the percentage of people using crypto, bank will always gain more too for Fiat.

Thank for the info brader

We need new innovations and we need things that will make us keep up with the growth of technology, if we needed anything in hard currency, the our usual fiat that the government had corrupted for us would still have been manageable, after all, that is how we have been managing it for several years now and it has not completely destroy us.

The reason why many people accepted bitcoin technology is because of its digital form, and because it created avenue for its users to be protected through its anonymous system which other digital payment method does not have, and this is what makes it different and unique, so bitcoin in paper form or hard currency would really not attract much user to it and it would have been dead on arrival if this was the form it initially came with.