What will happen if we use a one currency only?

[pragna]

Firstly i think it can not be possible because all country in the world are not economically same. So rich country government will not allow to poor government for same currency. It has both positive and negative effect. But i will be happy as we are poor country.

[awawo]

The whole countries of the world can not use bitcoin as the universal currency because that will expose them to danger and they will be open to corruption and high rate of money laundering through the use of bitcoin and no trace at all because bitcoin is a decentralized currency.

[romeo23]

The main barrier to this becoming a reality is that countries will loose a way of trying to control their economy. Money supply can be used as a method in which the central bank can adapt policies to achieve their desired outcome. If there is a world currency then interest rates and money supply would be made from a central point. Interest rates will be determined by one worldwide bank.But there are advantages and disadvantages to implementing a world currency.And before having global currency,we need to follow a procedure  like,the world should become one country,all the countries , should become it's state, the citizens should become the citizens of the world.All the citizens should be governed by the common law. The products, Agriculture , Medical , Mining & technology should be available to each & every citizen of the one world.And all the citizens should enjoy the same judicial system, irrespective of the cast creed or region.After Attaining all these practically , economically the global  currency system will work.But the big problem are,every country has its own financial institution and different levels in that. Removing these flaws by bringing a common mechanism would be the major  problem.Bringing one global currency in to scene, will increase debt on countries having low value currency. For example - Indian Rupee is downgraded compare to dollar and hence such conversion may lead to increase debt level over our country.The bigger a system gets,the more it become prone to faults.Distribution of powers among developed and developing countries would be another major problem...One day it could happen who knows???

[virasisog]

The whole countries of the world can not use bitcoin as the universal currency because that will expose them to danger and they will be open to corruption and high rate of money laundering through the use of bitcoin and no trace at all because bitcoin is a decentralized currency.

We dont know yet as everything can change if many countries will be allowed later the uses or to use bitcoins while any fiat can still exist within the countries that have no overall interest in online transactions. One currency to be used is not going to happen, there will always have to be an alternative with bitcoins

[sheenshane]

The whole countries of the world can not use bitcoin as the universal currency because that will expose them to danger and they will be open to corruption and high rate of money laundering through the use of bitcoin and no trace at all because bitcoin is a decentralized currency.

We dont know yet as everything can change if many countries will be allowed later the uses or to use bitcoins while any fiat can still exist within the countries that have no overall interest in online transactions. One currency to be used is not going to happen, there will always have to be an alternative with bitcoins

Yes, fiat has always existed because it is our traditional currencies and it is impossible that replace by cryptocurrency.
Every fiat in each country have different rate value it because of whole income and era in the country was not the same.
So, let us accept that the cryptocurrencies are is one other alternative currency we may be used as a digital money compared to paper money.

[Mystika]

If we only use one currency i think it is good, all around the world it is good because the value of it is the same as the other country. But we will never know the value or if there is a greater rate of our currency because there is no basis of what and where to value or currency. There will be no appraisal and depreciation of our money if we only use one currency.

[syamster]

If we only use one currency i think it is good, all around the world it is good because the value of it is the same as the other country. But we will never know the value or if there is a greater rate of our currency because there is no basis of what and where to value or currency. There will be no appraisal and depreciation of our money if we only use one currency.

Everything without the competition die down irrespective whatever that thing is, in my opinion if we will have one currency in the complete world, then who will be controlling that currency in case that currency is being supported by the central bank. Also the central bank will have more power while dictating the countries. And if there is decentralized currency than the countries will larger population will have better control to play around with that currency. I must say that it is better to have more than one currencies.

[johnnythunder]

In the event that the planet simply applies one cash, I figure it'll be larger joblessness and neediness in every nation. Since there's no benchmark to choose the estimation of cash. what is a lot of, on the off probability that it happens there's no organization willing to offer a high compensation on the grounds that the esteem is that the same, and level of instruction doesn't mean something. Suppose someone United Nations agency attained a title, as an example, their leader or government would be hungry in lightweight of the actual fact that their pay has Associate in Nursing indistinguishable incentive from customary laborers.

[ngefek berat]

Actually it all depends on government policy in each country when they want to preserve the original currency forever automatically the currency digital will not be easily accepted to experience the development in the country.

[STT]

 Sorry this cant work.  It goes against the long term principles of comparative advantage, every region of the world has its own bias and advantages.   In simple agricultural terms every hemisphere of the globe has its own season.   Not every slope is sunny and ideal to produce grapes, some exchange and variation is natural across the world and this with other reasons is why we dont hold just one currency.

If you dont believe you only have to look at the great contrast and strain the EURO is under, every country and economy in the that system varies and some of them suffer greatly for trying to use that EURO when it is not their own countries currency.    It can cause great hardship, ask the Greeks on what they think of you one currency idea.  
  Ideals can be dangerous to live under

[biboy]

Sorry this cant work.  It goes against the long term principles of comparative advantage, every region of the world has its own bias and advantages.   In simple agricultural terms every hemisphere of the globe has its own season.   Not every slope is sunny and ideal to produce grapes, some exchange and variation is natural across the world and this with other reasons is why we dont hold just one currency.

If you dont believe you only have to look at the great contrast and strain the EURO is under, every country and economy in the that system varies and some of them suffer greatly for trying to use that EURO when it is not their own countries currency.    It can cause great hardship, ask the Greeks on what they think of you one currency idea.  
  Ideals can be dangerous to live under

As much as we want to for sure that won't happen, everyone of us here does not want bitcoin to be the legal tender, and for sure it will make a big debate to the whole world if one proposes to make bitcoin as the legal tender or the only currency to be used worldwide especially those countries that until now was not accepting bitcoin to enter their county as they think that it was just a big scam.

[harimauagam]

certainly in other countries will not accept our money because the currency in other countries is different but if agreed by all countries with the same currency can surely.

[Kittygalore]

I think having only one currency is good because the value would be very much stable and no hassle to any payment methods, no more converting into other currency. This is just less hassle to everything that we do. Unfortunately for investors of Bitcoin its just gonna be hard because when we use one currency I don't think that the value will still increase, I think it will be more fixed on a certain amount.

[Faxmate]

In the event that the planet simply applies one cash, I figure it'll be larger joblessness and neediness in every nation. Since there's no benchmark to choose the estimation of cash. what is a lot of, on the off probability that it happens there's no organization willing to offer a high compensation on the grounds that the esteem is that the same, and level of instruction doesn't mean something. Suppose someone United Nations agency attained a title, as an example, their leader or government would be hungry in lightweight of the actual fact that their pay has Associate in Nursing indistinguishable incentive from customary laborers.

I see this close very happening  but not close too soon, though it is very gradual process, we have investment and it is developing more and more investment, we have an accounting standard this is applicable across countries among all other things, it won’t be far before we get a currency that will be adopted throughout the world. I would like bitcoin to use more than paper money so I like bitcoin to be the only currency in the world.

[kwarto]

it could be happen if nations will unite ang agree to that proposal then why not... it could not give any harm to the world if only one currency for as long as nations agreed to it.

a good example is europe... most of europian countries unite and agreed to use one currency and they are still stable and nothing goes wrong with their economy.. if this applies to the world with the same principle then that would be fine...

[Nivir]

It will be hard to imagine for a single currency worldwide. If ever it happens then it still the top countries like the USA, China, UK and the others that will decide the system which will surely be in their favor too.

[tuikindu01]

The institutions or countries that issue money control the entire world economy, and the wealth is highly unified, resulting in uneven distribution, which can directly or indirectly manipulate other countries' economies for their own benefit.

[Botnake]

It will be hard to imagine for a single currency worldwide. If ever it happens then it still the top countries like the USA, China, UK and the others that will decide the system which will surely be in their favor too.

It would not happen even bitcoin will be one of the popular currency, every country has different agenda
and they have different leaders and a country's currency represent the status of the county based on the value of its own currency.
Bitcoin will just help to facilitate transaction but at the end of the day, we all use our own currency.

[Elips1]

[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 think the powerful nation will rule all over the world and it causes a united one nation. So, a one currency it means that it should be a one King or a one President. Then, the rules and regulations must be in a common to all people in the world.

[Sled]

It will be hard to imagine for a single currency worldwide. If ever it happens then it still the top countries like the USA, China, UK and the others that will decide the system which will surely be in their favor too.

I don't think that it will be hard because it will be so easy for the countries to have one currency to use because they just need to be united in order to do that and they need to agreed on one thing before they can use one currency and it is very possible if they will talk to each other. Using one currency might give the best thing in our world because we can be just one country overall.