What will happen if we use a one currency only?

[pinkflower]

[Edited to make it more understandable question]
What if all nation use only a one currency or one global currency?, What will happen to our world?, What is the effect of every nation's or every country economy?, It can make people's unite each other?Any opinion.

Then I ask you, who controls and distributes this currency? A group of the worlds biggest banks? If thats the case then the world will be worse than it is today because they will manipulate the world's boom and bust cycles by using monetary control. In that world will come a programmer who will use the screen name Satoshi Nakamoto and invent a better type of currency.

Just like banks manipulate fiat currency having bitcoin as the only currency in the world is a dilemma. It will mean one person dominating the whole world financial system and could dictate how financial system works. If that person who has control over all has sympathy to people the it will be advantageous but if he is ruled by greed then it is a mess. We will all suffer and the elites will smile and look down on us.

One person dictating the whole financial system? You dont mean Satoshi dont you? If you really think that then it would be time to step back and learn more about BTC.

[STT]

[Edited to make it more understandable question]
What if all nation use only a one currency or one global currency?, What will happen to our world?, What is the effect of every nation's or every country economy?, It can make people's unite each other?Any opinion.

Gold has been the one world currency before (there is always more local money, could be bundles of wheat anything at all) and some think it will be again as its been so time tested over thousands of years and politics generally breaks down anything more transient.   People will fight over gold like they do now over any money, some will trade it at a premium and some will gain it more cheaply through effort or just luck.

There is no perfect justice system to money, the only thing that varies is the access to the ability to produce and gain the ability to demand money and exchange goods.  When free trade is allowed, it generally makes that society richer and the money just is the communication of that business not the reason for the wealth.  So you can say the currency is not relevant, right now dollar has too much influence and interference I would say but who knows if its really as extreme as other times in past regimes.  Bitcoin does have utility, it can help create wealth if that was your question.  Some think it negative for not having fixed value or physical link but in communication reliability its a positive I hope

[Sithara007]

I don't think that this idea will work out. For example, if the US Dollar is declared as the sole fiat currency in the world, then the United States can target its rivals by disrupting the money supply to those nations (I am assuming that in such a scenario, only the US will be having the right to print USD banknotes).

[btcdiggingmaster]

This is not completely acceptable my friend because every nation has their own rules and regulation beyond that nobody will not rescue like that single currency is not all possible to all the nation.In this case government cannot handle how much money is floating in a particular nation and more over lot of allegations will rise. Definitely this will be big task for the governments.

[gabmen]

[Edited to make it more understandable question]
What if all nation use only a one currency or one global currency?, What will happen to our world?, What is the effect of every nation's or every country economy?, It can make people's unite each other?Any opinion.

I don't think that would be beneficial or even necessary. a country's currency also gives a nation it's own distinction so having one global currency would for me, bring more harm than good. I think the way things are right now for the dollar and other currencies would be the better way than having just one currency as it would be more susceptible to being manipulated by a single government.

[doublebit21]

Well in my own thoughts i think it can be the same result it is just a currency and i think it is still a value.. we can be still change the different value but the same currency.. depends of the rank of the country. sample if our currency is usd here in my country 1 usd is high and compare we are using it in united state it will be the same as value there.
One currency is a sign that almost all country will be one. .

[deadsilent]

What will happen if we only use one currency? Well, i think every country are equal. It is pointless because if you use for trading, you will get smaller profit because the currency you are using are the same at value. It is not a good idea to use only one currency. It will disastrous to every country. I think its better not to use one currency. It better to do barter change. Trading product in exchange for other product.

[Cactushrt]

This is not completely acceptable my friend because every nation has their own rules and regulation beyond that nobody will not rescue like that single currency is not all possible to all the nation.In this case government cannot handle how much money is floating in a particular nation and more over lot of allegations will rise. Definitely this will be big task for the governments.

Exactly. Every country has their own leaders and also rules its very impossible to use one currency in whole globe it can affect foreign exchange specially in trading many of us are getting profit in every exchange

[STT]

This is not me speaking my opinion exactly but what Ive read is that the next world currency to take over from US Dollars will be the International Monetary Fund notes or IMF issued Fiat.   Again this is a central bank with gold reserves and supported by all the other central banks, the difference here this is not a national bank or tied to one political system.

So IMF currency is truly a global standard, it possibly may be more attractive then it should be because of this.   The name of this currency if you want to look further is SDR or special drawing rights and they already exist however they are not circulated by populations but only by other central banks which can hold them and use them for global trade I believe.   I dont think companies have access to them yet or the smaller banks not able to issue their own currency.   Only the IMF can issue this currency, its a very central standard.   Where as gold can mined and traded by anyone, decentralised.  Same for bitcoin which draws some comparisons

In the review conducted in November 2015, the IMF decided that the Renminbi (Chinese yuan) would be added to the basket effective October 1, 2016.[6] From that date, the XDR [SDR] basket now consists of the following five currencies: U.S. dollar 41.73%, Euro 30.93%, Chinese yuan 10.92%, Japanese yen 8.33%, British pound 8.09%

[robelneo]

[Edited to make it more understandable question]
What if all nation use only a one currency or one global currency?, What will happen to our world?, What is the effect of every nation's or every country economy?, It can make people's unite each other?Any opinion.

I don't know if it possible,because using a money where the one printed is a chinese character or not your government issue is a sign that you are under that system,currency is a sign of a country's sovereignty if you are not using your own money but from other government they have control of your economy and of your people..
It's possible if there only exist one country one flag and one system..

[Harlot]

[Edited to make it more understandable question]
What if all nation use only a one currency or one global currency?, What will happen to our world?, What is the effect of every nation's or every country economy?, It can make people's unite each other?Any opinion.

I don't know if it possible,because using a money where the one printed is a chinese character or not your government issue is a sign that you are under that system,currency is a sign of a country's sovereignty if you are not using your own money but from other government they have control of your economy and of your people..
It's possible if there only exist one country one flag and one system..

Yes, having one global currency will create problems, one is there will be imbalance in the world as that 1 currency will only have once price some countries will be more richer and some will be poorer. We can't make it happen as not all countries'  government are not friends with each other. All I can say is that it will create more problems than having a solution.

[zhangswujip]

Governments will not allow it, because each state sets it apart an economy.Different countries have different currencies as the value of the currency reflects to the economy of a country.
I think it will not happen in the last few decades, unless the world is peaceful, or the world is unified.

[hisuka]

If were only using one currency, I think it can give a problem
in the government. Anyone will suffer its difficulty, because
each of us here will hard to exchange it in the other country.
This will suffer imbalance, not unified in each country.

[Babayega31]

Governments will not allow it, because each state sets it apart an economy.Different countries have different currencies as the value of the currency reflects to the economy of a country.
I think it will not happen in the last few decades, unless the world is peaceful, or the world is unified.

As the question states what will happen if one currency will be use we should not reason out about government may resist but we point out whats the possible effect. There will be no currency exchange in every country if the whole world uses one currency and the economic growth still be stable at all no competition of businesses may happen to different countries. Global market will possibly go down due to no exchange ratings of currency.

[BitcoinHodler]

Governments will not allow it, because each state sets it apart an economy.Different countries have different currencies as the value of the currency reflects to the economy of a country.
I think it will not happen in the last few decades, unless the world is peaceful, or the world is unified.

As the question states what will happen if one currency will be use we should not reason out about government may resist but we point out whats the possible effect. There will be no currency exchange in every country if the whole world uses one currency and the economic growth still be stable at all no competition of businesses may happen to different countries. Global market will possibly go down due to no exchange ratings of currency.

the problem with this suggestion is that it is assuming every country in the world is going to come to a consensus about using a single unit for currency and we all know that there has never been any case in which all countries agreed upon and when it is about their financial matters the situation is even worse. and it is not just the government, the people also are not going for it.

[adi33]

Maybe if a country uses only one currency. the country that produces the currency will become a country rich in this pitch. problems may arise from the many wars and other crimes

[OrangeII]

I feel that it would be easier for people to conduct transactions wherever he is. Well, it has many advantages, but, it also makes a lot of harm, especially, for those who make money in the field of trading. Well, if everyone uses only one currency, then, there will be no such thing as trading forex.

[crairezx20]

I feel that it would be easier for people to conduct transactions wherever he is. Well, it has many advantages, but, it also makes a lot of harm, especially, for those who make money in the field of trading. Well, if everyone uses only one currency, then, there will be no such thing as trading forex.

If we use only one currency trading is useless right now with bitcoin unless if they are trading online with products gold or silver.. any thing that has value..
We know many advantage using bitcoin but it is not good idea if we using one currency like bitcoin because some places there is no internet we can not use bitcoin in some places.. bitcoin is good only if you want to transact money in far places and you are just paying for a small fee.

[Wandering Soul~]

It would bring a lot of problems and disadvantages,  Having a currency each country serves a purpose .
You can even check the economic status of a country based on its currency .  But the biggest problem is how can we identify the value of the currency if there is no trading .

Many people have proposed this thing but it is least likely to happen unless the world has a only one government .

[clickerz]

I feel that it would be easier for people to conduct transactions wherever he is. Well, it has many advantages, but, it also makes a lot of harm, especially, for those who make money in the field of trading. Well, if everyone uses only one currency, then, there will be no such thing as trading forex.

That is right,since forex trading can be done with other currencies. But on the other side, if  we have only one currency I think it is easy to transact across the world since no need for currency conversion.