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Author Topic: What will happen if we use a one currency only?  (Read 19049 times)
BunnyShibe
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October 18, 2017, 10:34:54 PM
 #481

It is really hard to say how the current crypto currency could have an impact in common world wide using.
The problem to solve is a anonymity, don't understand me wrong... It is as advantage in crypto but in real world people could take loans(if we would use crypto) and then nobody could prove you that you have money to payoff installment. The economy would works better but the law could have a lot of problems. In economy only the price fluctuations would be a challenge.
In fact it look like difficult but not impossible. i think that with the passge of time when bitcoin will become more common and more and moe countires will accept bitcoin as legal currency like japan then we can think about and then it will be possible to use bitcoin as a single currency throughout the world. i think that we can expect it in future when bitcoin will be accpeted by most of the countires of the world.
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October 19, 2017, 12:28:20 AM
 #482

[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. Cheesy

I think, that would bring a better world to everyone. A world where there is an equal currency, this could mean that there will be no more division between societies, third worlds would be no more and there might be equal opportunities for every one.

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October 19, 2017, 01:26:04 AM
 #483

[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. Cheesy

I think, that would bring a better world to everyone. A world where there is an equal currency, this could mean that there will be no more division between societies, third worlds would be no more and there might be equal opportunities for every one.

I think life will be easier to sustain since the price's of food or daily needs will decrease and in that case, I think that bitcoin will lose its value since it will be easier to live and there will be no more problem entertain since the currency is internationally stable.

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October 19, 2017, 01:38:14 AM
 #484

Having an one currency around the entire world will provide a diversified economy throughout the country who have accepted such a method. In short, this will get used same as the European Union than has been functioning long with such a combined group of countries having the same currency.

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October 19, 2017, 07:26:42 AM
 #485

Having an one currency around the entire world will provide a diversified economy throughout the country who have accepted such a method. In short, this will get used same as the European Union than has been functioning long with such a combined group of countries having the same currency.
Using one type currency is a good thing but there is a more important thing that is the kind of money that is used. People in the past were used gold for transactions but it's not practically, so they entrust their gold to certain people who sit in the banca ( derivied from the romans that mean bench, now we call it bank ) to get banknotes ( paper money), but now government prints paper money regardless the amount of gold,  this is why using paper money is not fair to us. We better to looking for the alternative, probably bitcoin is the best one.

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October 19, 2017, 07:41:11 AM
 #486

Having an one currency around the entire world will provide a diversified economy throughout the country who have accepted such a method. In short, this will get used same as the European Union than has been functioning long with such a combined group of countries having the same currency.
Using one type currency is a good thing but there is a more important thing that is the kind of money that is used. People in the past were used gold for transactions but it's not practically, so they entrust their gold to certain people who sit in the banca ( derivied from the romans that mean bench, now we call it bank ) to get banknotes ( paper money), but now government prints paper money regardless the amount of gold,  this is why using paper money is not fair to us. We better to looking for the alternatif, probably bitcoin is the best one.
A global currency would affect every country and economy that the world has. It would probably unite nations or can cause more chaos. But I strongly believe that there will be a bigger competition in that since there is only one basis of every economy.

As for the gold that’s converted to paper money, in my knowledge (and to what processes we have in our country), it is the world bank that processes and prints the money worldwide— not the government— and they convert it to paper money or coins with the “conversion” they have. I don’t know how much gold to money costs, but I’m sure that there is. The gold given by the government to the worldbank is put into the money produced, whether its coin or paper — aside from their service charge.
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October 19, 2017, 07:53:01 AM
 #487

Implementing a single currency worldwide would be highly impractical, for the areas trying to to force a single currency would likely do more harm than good.The simple reason is if there is only on currency than it had to bear the burden of many under-developed economies.

It also affects some parts of the economy as it would strike down the need of financial sector employees and would generate huge unemployment.
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October 19, 2017, 08:39:06 AM
 #488

Having an one currency around the entire world will provide a diversified economy throughout the country who have accepted such a method. In short, this will get used same as the European Union than has been functioning long with such a combined group of countries having the same currency.
Using one type currency is a good thing but there is a more important thing that is the kind of money that is used. People in the past were used gold for transactions but it's not practically, so they entrust their gold to certain people who sit in the banca ( derivied from the romans that mean bench, now we call it bank ) to get banknotes ( paper money), but now government prints paper money regardless the amount of gold,  this is why using paper money is not fair to us. We better to looking for the alternatif, probably bitcoin is the best one.
A global currency would affect every country and economy that the world has. It would probably unite nations or can cause more chaos. But I strongly believe that there will be a bigger competition in that since there is only one basis of every economy.

As for the gold that’s converted to paper money, in my knowledge (and to what processes we have in our country), it is the world bank that processes and prints the money worldwide— not the government— and they convert it to paper money or coins with the “conversion” they have. I don’t know how much gold to money costs, but I’m sure that there is. The gold given by the government to the worldbank is put into the money produced, whether its coin or paper — aside from their service charge.
There are two system of printing money, pseudo gold and fiat money. In pseudo gold system, printed and circulated money is backed by gold or silver reserves owned by issuing institution, but some countries use fiat money system to print money, so the money in circulation is not supported by real asset or not even supporting by anything, tens years ago the government of my country cannot maximally collect tax from the people, so the president instructs to print money in excess. That's why we need to choose another currency to become the only currency that we use.

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October 19, 2017, 01:08:26 PM
 #489

It is a little bit of a paradox, but it is kinda like saying that product sales for X model refrigerator would sky rocket if it was the only brand out there.  One forex has a extended time to get here and by the time it does, there are probably going to be other derivatives of Bitcoin that provide that objective greater. Then picking that one particular forex will be an additional probelm.
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October 19, 2017, 01:43:36 PM
 #490

[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. Cheesy
I think it's a very good thing, because it is certain that the price of goods in all countries of the world will be the same,
but it would be impossible to make just one currency in this world,
because each country still has selfish

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October 19, 2017, 02:14:47 PM
 #491

I think its not good if use one currency only. Imagine if it is centralized only one institution will hold the production of currency and it will be prone to terrorism as it is a weak spot because lack of currency only means we will go back to not being civilized. If it is decentralized it can be easily hold by rich people and they can dictate the value of that currency and the most of the time it is not good.

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October 19, 2017, 09:44:50 PM
 #492

It is impossible to have one forex for all nations around the world. The winner will be the a single who controls the currency. Extremely typically to heat up the economy making use of financial emission. How can this be accomplished if other nations around the world are not rewarding.
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October 19, 2017, 10:20:39 PM
 #493

Having an one currency around the entire world will provide a diversified economy throughout the country who have accepted such a method. In short, this will get used same as the European Union than has been functioning long with such a combined group of countries having the same currency.
Using one type currency is a good thing but there is a more important thing that is the kind of money that is used. People in the past were used gold for transactions but it's not practically, so they entrust their gold to certain people who sit in the banca ( derivied from the romans that mean bench, now we call it bank ) to get banknotes ( paper money), but now government prints paper money regardless the amount of gold,  this is why using paper money is not fair to us. We better to looking for the alternatif, probably bitcoin is the best one.
A global currency would affect every country and economy that the world has. It would probably unite nations or can cause more chaos. But I strongly believe that there will be a bigger competition in that since there is only one basis of every economy.

As for the gold that’s converted to paper money, in my knowledge (and to what processes we have in our country), it is the world bank that processes and prints the money worldwide— not the government— and they convert it to paper money or coins with the “conversion” they have. I don’t know how much gold to money costs, but I’m sure that there is. The gold given by the government to the worldbank is put into the money produced, whether its coin or paper — aside from their service charge.
There are two system of printing money, pseudo gold and fiat money. In pseudo gold system, printed and circulated money is backed by gold or silver reserves owned by issuing institution, but some countries use fiat money system to print money, so the money in circulation is not supported by real asset or not even supporting by anything, tens years ago the government of my country cannot maximally collect tax from the people, so the president instructs to print money in excess. That's why we need to choose another currency to become the only currency that we use.
Well,if that's the case then there should be a majority decision or plan to make it work. Actually, if we use only one currency,it will be easier for us to trade our products import or export. If the currency is dollars alone,then there will be no problems for money exchanger and it's worry free bacause we can travel everywhere using one currency. If ever bitcoin is our only currency,that will be the best decision to make because it has everything and it will be easier for us to send out money to our family and save some of our money. Therefore one currency is good.


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October 19, 2017, 10:52:10 PM
 #494

Everything would be simpler. To anywhere in the world wherever you go, you could use it without having to convert to the local currency, and therefore paying exchange rates.

However, having a single currency is a bit problematic, because if it fails you have the entire world economy at risk.

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October 21, 2017, 12:50:57 AM
 #495

there is a chance that the economy will boost and there is always one thing bad will take place also, so the question here is what if we use only one particular currency if we utilised it the economic climate can boost simply because practically all of the folks will cooperate relating to to this currency they will often go over about it and the negative thing is individuals will battle towards to it.
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October 21, 2017, 02:01:59 AM
 #496

This is a good idea, with one currency of course there is no significant price difference, we will get the price of 1 kg of apples in south africa the same price as in Thailand, I agree with the idea of one world one currency.

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October 21, 2017, 05:15:01 AM
 #497

Having an one currency around the entire world will provide a diversified economy throughout the country who have accepted such a method. In short, this will get used same as the European Union than has been functioning long with such a combined group of countries having the same currency.
The monopoly of dollars will come to an end. Because in this day only dollar is acceptable all over the world. No other currency you can take with yourself if you want to travel abroad.

But when there will only one digital currency which will be acceptable all over the world then there will be no tension to convert your local money in dollars or any other required currency. I will really appreciate this thing and will be very glad to see all the people using just one currency.

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October 21, 2017, 05:51:14 AM
 #498

[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. Cheesy


I believe not. It will be good for all of us since we have uniformity. Though, we need to adjust every value of the countries products that way the economy of all the countries will not fluctuate.

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October 21, 2017, 06:04:09 AM
 #499

I assume what you are referring is a term called supercurrency, it's very subjective and basically attributed to its feasibility. To answer your question let's look into the pros and cons:

Pros:
There will be no forex trade costs and no hedging.
There is also a notion of 'a more integrated world'.
It would promote tourism since the exchange costs will be negated, in other words the world would be more interactive and united.

Cons:
Kinda self-explanatory if you look into Greece economy currently after adopting Euro.
It wipes a nation's identity, especially the weak ones.

It is a good concept but not worthwhile enough to overhaul the entire fiscal process of the world.



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October 22, 2017, 04:26:11 AM
 #500

If we will take care of bitcoin as an illustration for this variety of question then we can say that it will be a quite enormous aid for bitcoin to goes up quite large and breaks a great deal of ATH charges and make some more. The power of possessing a single forex only is by the demand from customers that can make factors crazier than just before like if we will use bitcoin only.
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