What will happen if we use a one currency only?

[BrendaGee]

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.

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.

[saymynem]

It's a fun pipedream, but it'll never happen. Big governments love their monetary policy and currency manipulation. For those non-economists, monetary policy relies on manipulating the money supply to alter the value of the fiat currency. So every governing body that has control over a currency can (and almost always does) implement monetary policy. Thus, if there was only one currency, the entire world would have to agree on a singular monetary policy. Never going to happen! Hell, the euro is barely holding it together because different European countries want vastly different policies. Now imagine that on the worldwide scale  

Then if you want to say that the universal currency should be bitcoin, there'd be no monetary policy at all as the money supply is fixed in the long term. I guess the central bank could buy and then burn btc, but this is obviously very difficult compared to current monetary policy, perhaps prohibitively so. Also, you wouldn't be able to prevent other agents from doing the same, so yea it wouldn't really work.

[0t3p0t]

[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.

All countries arround the world has different types of governments so it is impossible to have one currency but on be half of your ideas and curiousity I will answer it but not sure about my speculations. If we are using one cryptocurrency or fiat money worldwide I think the price is multiplied by ten as what we have today due to high demand and supply is low most especially in Bitcoin. Maybe it had happened once with our ancestors way back thousands of years ago as what I've seen and read on books and television that they used precious metal like gold to buy goods and we all know that gold or silver is widely used during that time as form of currency. If that really had happened then I think that there have been no exchanges ever existed until today. I am not sure on what is the effect of having one currency in every countries economy since it is really hard to speculate impossible things to happen. Yes it may possibly make people united and will not make people confused or spend time and money to exchange into every local currencies especially the travellers or foreign tourists.

[zhelis74]

That means practically to cancel trading, which will have as a result many people to loose interest in cryptos. Also, that means that there will be no diversity in anyone's portfolio with a result the economy to stabilize at some point and stay neutral. Also, the one coin will turn to be controlled easier by governments.

There are disadvantage and advantages of having one currency the simplest advantage is the transaction cost of every ordinary people  visiting from country to country and beyond will be lessen and i think the disadvantage is that every country will based its currency value with the economics status of one's country i think there is a conflict that's need to be dig up for the super power country and the third world country.

[super5star]

I guess exchanges will die. It also brings a whole forex and now cryptocurrency market down and these are places where people like to speculate and invest. This money put there will have to be invested elsewhere, so I guess we would see other markets developed or a big pour of money to stocks. I also think, that the world is not even close to being ready to adapt a one currency, because of differences in various economies and countries wealths. I mean, a loaf of bread would cost in one country $1 while in the other only $0.3 and these price ranges are too wide for a one currency to healthy remain in all countries.

There will no longer any kind of exchange and all the people who are into trader and all that stuff will have to look for some other ways of earning money. I don’t think so that this thing will happen in this world. It is because of the reason that it is really a difficult task to convince each and everyone us and especially the governments of different countries to stop using their currencies.

[stergium]

That means practically to cancel trading, which will have as a result many people to loose interest in cryptos. Also, that means that there will be no diversity in anyone's portfolio with a result the economy to stabilize at some point and stay neutral. Also, the one coin will turn to be controlled easier by governments.

There are disadvantage and advantages of having one currency the simplest advantage is the transaction cost of every ordinary people  visiting from country to country and beyond will be lessen and i think the disadvantage is that every country will based its currency value with the economics status of one's country i think there is a conflict that's need to be dig up for the super power country and the third world country.

Yes good and bad aspects are always there for everything. But i think that if we start using one kind of currency, for which we are already struggling in form of bitcoin i am sure that it will have more advantage. I think in present modern time, it is much more important to have a single currency throughout the world and where we do not feel any need for changing it into fiat or any other currency.

[ButtCrack]

That means practically to cancel trading, which will have as a result many people to loose interest in cryptos. Also, that means that there will be no diversity in anyone's portfolio with a result the economy to stabilize at some point and stay neutral. Also, the one coin will turn to be controlled easier by governments.

There are disadvantage and advantages of having one currency the simplest advantage is the transaction cost of every ordinary people  visiting from country to country and beyond will be lessen and i think the disadvantage is that every country will based its currency value with the economics status of one's country i think there is a conflict that's need to be dig up for the super power country and the third world country.

Yes good and bad aspects are always there for everything. But i think that if we start using one kind of currency, for which we are already struggling in form of bitcoin i am sure that it will have more advantage. I think in present modern time, it is much more important to have a single currency throughout the world and where we do not feel any need for changing it into fiat or any other currency.

Certainly, if the world do not have not Bitcoin, we do not need to replace all FIAT and using only one currency for the whole world. Therefore, we need to use Bitcoin to create this revolution. But, do you think it is necessary for the growth of the world?

[shield132]

[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.

Since it's edited I'll give a little bit different answer. It will prevent crisis in some countries because some of them depends on local currency/USD price, theyvare usually importers so when USD rises, wages are lowered and prices are becoming higher. So one currency is better of course, it will fix problems but there are some big players who enjoy multi currencies because they usually plan manipulating of price and make a big profit, so it more likely won't happen.

[Gabb]

I have the feeling that this will be the trend in the not too distant future: economic unification. It is true that for practical purposes the dollar has been a commonly accepted currency throughout the world, from the most exotic places to the most remote village, but a currency with official acceptance is necessary in all countries, and the euro has been a good experiment in that sense. Is it a crypto, in this case bitcoin, the answer? We will see over the years.

[megynacuna]

I have the feeling that this will be the trend in the not too distant future: economic unification. It is true that for practical purposes the dollar has been a commonly accepted currency throughout the world, from the most exotic places to the most remote village, but a currency with official acceptance is necessary in all countries, and the euro has been a good experiment in that sense. Is it a crypto, in this case bitcoin, the answer? We will see over the years.

Well i don't see this feasible just yet and even if it's implemented i guess it will signal the end of the world as the good book"The Bible" says and so it's not going to stand the test of time and should be treated as a ridiculous idea.

[nethan1btc]

[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.

Since it's edited I'll give a little bit different answer. It will prevent crisis in some countries because some of them depends on local currency/USD price, theyvare usually importers so when USD rises, wages are lowered and prices are becoming higher. So one currency is better of course, it will fix problems but there are some big players who enjoy multi currencies because they usually plan manipulating of price and make a big profit, so it more likely won't happen.

Yeah, it is impossible to happened, it would not be easy like that, but if that will happened someday I guess, the idea of using one global currency will create equality for all nation. We will break racial discrimination through that but of course, it will bring a great impact to our global economy and many people might not easily accept it.

[Dheo]

If that happen, no more overseas worker, because most of the people go to the other country because the currency they want to go is bigger than their local currency.

[ivrynx]

if we all use one currency, and we use bitcoin as the world currency, then there will be equality. if for example you are a teacher and in your country you are paid 1 bitcoin per month, then if you ask a teacher from other countries, their salary will also be the same, all the fares, goods and services, will all be in the same amount, there would be no inflation, since thee is no foreign exchanges, there would be no rich and poor, as far as i can see, people from the first world countries today has a very great advantage over the people from the third world countries, that is due to the dollar exchange, their fiat might be worth more if they went to a third world county which has a very cheaper price when it comes to goods and services, but if we have only one currency, that will change, the price all will be the same, but there is a disadvantage, if there is one currency only, hoarding might take place and all countries should agree on one thing, who will manage that currency, who will tell them the price, who will make decisions, i think if we have one currency, though it seems to be a good thing, we should study it further, to benefit all.

[Vaskiy]

[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.

Since it's edited I'll give a little bit different answer. It will prevent crisis in some countries because some of them depends on local currency/USD price, theyvare usually importers so when USD rises, wages are lowered and prices are becoming higher. So one currency is better of course, it will fix problems but there are some big players who enjoy multi currencies because they usually plan manipulating of price and make a big profit, so it more likely won't happen.

Yeah, it is impossible to happened, it would not be easy like that, but if that will happened someday I guess, the idea of using one global currency will create equality for all nation. We will break racial discrimination through that but of course, it will bring a great impact to our global economy and many people might not easily accept it.

Just the countries which are in the growing level might show positive signal, but the grown countries will not support this move. The reason is that, such a move will surely affect people who have made a bigger earning residing in different countries. Just the same is not gonna make a change in the racial discrimination.

[di.ako.toh]

I think if there is only one currency, there is no need to monitor the exchange rates of currency. There no such things as investments and trading in business world because of no conversion of monetary values and prices.

[arthotdog]

This will never happen,because there will always a dominant country and if this single currency implemented all the nations will be equal in terms of all aspect in which bigger country wont allow.how could they get what they want if this thing equality works.

For me living in a thirdworld country will be glad having this one currency thing,but for sure those DOMINANT COUNTRY SURELY OPPOSE THIS IDEA..

[mickeybuddy27]

That means practically to cancel trading, which will have as a result many people to loose interest in cryptos. Also, that means that there will be no diversity in anyone's portfolio with a result the economy to stabilize at some point and stay neutral. Also, the one coin will turn to be controlled easier by governments.

You are so right. If there will no competitor, how can a single currency be used for trading.It will be end of this profession, at least the digital trading one. I don’t know what will happen if the government will become able of controlling one currency easily because at the present, there are not many issues rather governments don’t care about them but the point is having only one currency for the whole world is a bad idea and practically impossible too.

Thats correct. There will be equality when use only one currency which is impossible and government will be against. It also means that the economy become equal in any aspects so there will be no trading and investment going to happen.

[Ayush rana]

Using one currency all over the globe means a good and easy trading between two countries. If we use a global currency then the value of that currency get increase and this will help to lower the poverty of the developing countries.

[ongels]

With a single unified currency,countries no longer have the luxury of devaluing their local currency to make their product more competitive,
Weaker countries, had to become more competitive with larger, stronger countries, because weaker countries will enjoy higher purchasing power without having to produce more goods and services.

[megynacuna]

With a single unified currency,countries no longer have the luxury of devaluing their local currency to make their product more competitive,
Weaker countries, had to become more competitive with larger, stronger countries, because weaker countries will enjoy higher purchasing power without having to produce more goods and services.

There wouldn't be a fair trade uif we use one currency and it will also spell doom  for the world as the good book predicted that one world currency and econmic system will signal the end of the world  for the bad guys to take over.