What will happen if we use a one currency only?

[Red Fish]

It will never happen, governments will not agree with that. Each country have own economy, so one currency can ruin whole world economy. It is just simple dream, which never happen. The other question is European Union ( more than 20 countries ), when it is possible and EUR is reality.

[raven7886]

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.

Actually this is not possible in actual world because you see if each country would use a common currency then how would we determine if a country is rich or poor compared to others ?
I think online we can use a common payment method like bitcoins to make all transactions, but a common fiat wont be approved by any country's government.

[crwth]

If everyone would have the same currency, there would be certain advantages that can be achieved when every currency is the same and disadvantages when also having the same currency.

First, having one currency means easier transaction with people. Of course there are no other currencies to be used and everyone would know that currency, because it's the only one.

Disadvantages of it is you can't earn anymore from spreads or just trade to gain profit. No other currencies try to invest, try to use. The printing of it and regulation of the money would be really hard. Producing it and managing it would be hard.

My thoughts on this one.

[wxa7115]

A single currency for the whole world will be a mistake since who is going to print that currency? Probably a central bank, but that central bank will need to recognition of all the countries of the world in order to print that currency, and I doubt that we can reach that kind of consensus peacefully.

[Supercrypt]

A single currency for the whole world will be a mistake since who is going to print that currency? Probably a central bank, but that central bank will need to recognition of all the countries of the world in order to print that currency, and I doubt that we can reach that kind of consensus peacefully.

Why not we assume that we have achieved that kind of consensus already. Yes bitcoin must be that one single currency and it is minted by people and has been recognised by people. Then we can also assume we are already in half way to the world of one single currency. With bitcoin I believe it could be possible.

[Factmine]

A single currency for the whole world will be a mistake since who is going to print that currency? Probably a central bank, but that central bank will need to recognition of all the countries of the world in order to print that currency, and I doubt that we can reach that kind of consensus peacefully.

Why not we assume that we have achieved that kind of consensus already. Yes bitcoin must be that one single currency and it is minted by people and has been recognised by people. Then we can also assume we are already in half way to the world of one single currency. With bitcoin I believe it could be possible.

The world will not use Bitcoin as the single currency. Because it is not controlled by the government. Without control the government will not be able to control inflation, the market prices, prices of food, how much money is in circulation. How will they get money to run the services of the government? The concept of a global and single currency is really far from the truth as of now.

[wxa7115]

A single currency for the whole world will be a mistake since who is going to print that currency? Probably a central bank, but that central bank will need to recognition of all the countries of the world in order to print that currency, and I doubt that we can reach that kind of consensus peacefully.

Why not we assume that we have achieved that kind of consensus already. Yes bitcoin must be that one single currency and it is minted by people and has been recognised by people. Then we can also assume we are already in half way to the world of one single currency. With bitcoin I believe it could be possible.

Bitcoin is great but not even a single country back it up, even if we think the backing of the governments is unnecessary and that we only need the backing of the people this is simply not true at the moment, maybe with bitcoin development we could go to countries with smaller governments with less influence but currently that is not the case.

[Kevin77]

Why not we assume that we have achieved that kind of consensus already. Yes bitcoin must be that one single currency and it is minted by people and has been recognised by people. Then we can also assume we are already in half way to the world of one single currency. With bitcoin I believe it could be possible.

If printing one single currency and distributing properly is the big concern for the concept of one single currency then bitcoin must be the right solution here. Because we have already into a system that satisfying all the criteria and need of one single currency world.

I am also agreeing and not have any doubts that bitcoin is moving towards position of only one currency.

[xIIImaL]

Why not we assume that we have achieved that kind of consensus already. Yes bitcoin must be that one single currency and it is minted by people and has been recognised by people. Then we can also assume we are already in half way to the world of one single currency. With bitcoin I believe it could be possible.

If printing one single currency and distributing properly is the big concern for the concept of one single currency then bitcoin must be the right solution here. Because we have already into a system that satisfying all the criteria and need of one single currency world.

I am also agreeing and not have any doubts that bitcoin is moving towards position of only one currency.

If only one currency in the world there is no economic differences between the countries. Then you all people again go old barter system and there is no sense of earning money in this world.

[GregH37]

It will never happen, governments will not agree with that. Each country have own economy, so one currency can ruin whole world economy. It is just simple dream, which never happen. The other question is European Union ( more than 20 countries ), when it is possible and EUR is reality.

Yes governments may not be interested in doing so as they may have some limitation from that, but I think people from all over the world will welcome it, as  it will become more convenient for them to use bitcoin directly from all over the world without converting it into any other currency. 

[deadpoolx]

If you refer to the possibility of all countries adopting a single fiat currency, it is a very difficult scenario to predict, but the fact is that for governments it would be a decision that would not make much sense. The reason is that each government wants to have control over a currency, so there would be conflict of interest if all countries adopted the same currency.
On the other hand, in the case of a decentralized cryptocurrency, this would bring a number of positive results for the nations.

[rickadone]

If printing one single currency and distributing properly is the big concern for the concept of one single currency then bitcoin must be the right solution here. Because we have already into a system that satisfying all the criteria and need of one single currency world.

I am also agreeing and not have any doubts that bitcoin is moving towards position of only one currency.

Bitcoin must be an appropriate medium of exchange to be used worldwide as one single currency. Because with no central power to put unnecessary regulations but facilitating people with all needed thing as per the modern requirement of digitalisation yes everything comes under bitcoin ecosystem.

[choppork]

If everyone would have the same currency, there would be certain advantages that can be achieved when every currency is the same and disadvantages when also having the same currency.

First, having one currency means easier transaction with people. Of course there are no other currencies to be used and everyone would know that currency, because it's the only one.

Disadvantages of it is you can't earn anymore from spreads or just trade to gain profit. No other currencies try to invest, try to use. The printing of it and regulation of the money would be really hard. Producing it and managing it would be hard.

My thoughts on this one.

I think it would be a digital currency if there's only currency which can be converted into fiat form. It would be hard to print a lot of fiat to be distributed in each and every country. If we're to do this, would the government distribute it evenly for each country? Where are the funds would come from? There's a lot of questions that needs an answer but we're not anywhere near this situation so there's no need for us to problematize this. It's still just an idea right now and nothing else. We're simply fantasizing this idea.

[Shenzou]

If the whole word uses one currency than all country will be equal and there will be no poor countries , the thing is economy is controlled by the big guys who owns the international currency which is the usd and in this case the united states , if we say we all use international currency like bitcoin than the smaller and poorer countries won't have to pay a lot when it comes to taxes.

[Bitcoinsummoner]

If the whole word uses one currency than all country will be equal and there will be no poor countries , the thing is economy is controlled by the big guys who owns the international currency which is the usd and in this case the united states , if we say we all use international currency like bitcoin than the smaller and poorer countries won't have to pay a lot when it comes to taxes.

But it is impossible to happen that only one currency we were using.. every country has own currency use. just like here we are just using our currency.
There is different value of those coin.. and there is different rankings of every currency..
If we convert into one currency or only bitcoin we are using it can affect our economy..

[d@nte]

If the whole word uses one currency than all country will be equal and there will be no poor countries , the thing is economy is controlled by the big guys who owns the international currency which is the usd and in this case the united states , if we say we all use international currency like bitcoin than the smaller and poorer countries won't have to pay a lot when it comes to taxes.

Countries would probably converge to a more similar standard of living, it could be something positive or negative. At the beginning of this there could be problems related to conflicts of interest between nations, in addition, if they continued with the fiat currency system, this would cause more centralization, therefore more problems.

[wxa7115]

Why not we assume that we have achieved that kind of consensus already. Yes bitcoin must be that one single currency and it is minted by people and has been recognised by people. Then we can also assume we are already in half way to the world of one single currency. With bitcoin I believe it could be possible.

If printing one single currency and distributing properly is the big concern for the concept of one single currency then bitcoin must be the right solution here. Because we have already into a system that satisfying all the criteria and need of one single currency world.

I am also agreeing and not have any doubts that bitcoin is moving towards position of only one currency.

While a lot of people have access to the Internet thanks to smart phones there is also a significant amount of population without access to it so bitcoin cannot be the right solution at this particular point of time because it cannot reach every single person in the planet.

[Noctis Connor]

if its happen there will be no more exchange on our economy on each countries thats why we need to have different currency because it could actually help our country but if we all using us dollars i think we're not into going to US just to have job and get more income because we can work and find a job in our country because we're only using one currency.

[jvc12]

well if we all down to using one currency well it will be good there will be easy transactions any were you go but in that case it also has it own disadvantage cause there will be no room for currency trading again so the means of getting money will be very difficult it will be only for the few to get money.

[Bitcoin0916]

It's a good idea, I think it is very good for equitable world economy. the world can be divided into many countries, but with the existence of a single currency then the world will be merged. Prosperity will be easy evenly so there is no world hard.