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Author Topic: What will happen if we use a one currency only?  (Read 19049 times)
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November 02, 2016, 01:53:29 PM
 #1

[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

                       
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November 02, 2016, 03:00:40 PM
 #2

The question makes no sense because anything can be used as a currency, such as beer or rice or gold or litecoin or even toilet paper issued at no cost to the issuers though of course that wouldn't be recommended Smiley 


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November 02, 2016, 03:24:07 PM
 #3

What do think if all nation use only a one currency?, What happen to our world?, What the effect of the nation's economy?, It can make people's start to work each other without competing others?Any opinion. Cheesy

there will be a huge chaos if this is really happened because regulation and situations of economic for each countries is very different and some people could destroy the economy of particular country and there is a country will too dominant rather than other countries and basically you were asking impossible question
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November 02, 2016, 03:26:06 PM
 #4

What do think if all nation use only a one currency?, What happen to our world?, What the effect of the nation's economy?, It can make people's start to work each other without competing others?Any opinion. Cheesy

It will put a stop to all these pathetics currency wars. It would already be a good point. On the other hand it would present some serious challenges as every part of the world is not on the same level of productivity.
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November 02, 2016, 03:55:18 PM
 #5

Using a single currency will be a disaster if we talk only about Fiat because how could anyone supervise it, i mean a country could print an extra amount so...
But if you talk about cryptocurrencies including bitcoin then yea it is a good idea.
Aren't we using the same money (BTC) while we are from different countries?  Wink

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November 02, 2016, 04:01:24 PM
 #6

I wonder how all countries would be able to use just one currency if it is about fiat, because the government of every country has control on the money or on the economic system of that country so if the currency is the same for all the countries, who will be controlling it? Wont that become a reason for fights or wars between states?


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November 02, 2016, 04:03:57 PM
 #7

What do think if all nation use only a one currency?, What happen to our world?, What the effect of the nation's economy?, It can make people's start to work each other without competing others?Any opinion. Cheesy

I think the overall effect on the world economy will be positive, because international trade is greatly facilitated - especially if all nations use a easily transferable and decentralized currency like Bitcoin. There will be significant differences regarding the extent to that specific countries will profit from a one world currency.

In general, competition will increase, because market access is facilitated for all countries. This most likely will result in lower prices for many products and services. The countries that will be able to produce cheaply will see the most positive impacts - regardless if cheap production is achieved via automation or low labor costs. In my view, developing countries might profit the most from Bitcoin as a one world currency, because labor costs tend to be low and many smaller businesses in these countries will have improved possibilities to offer their products on the international marketplace.

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November 02, 2016, 04:06:21 PM
 #8

Governments will not allow it, because each state sets it apart an economy
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November 02, 2016, 04:11:09 PM
 #9

If that will happen a lot of people will be fucked.

Let's pretend for a second that this is happening.

The biggest and powerful country will want to have the lead.

By the lead I mean she will try to approximate the value of the coin we all use.

1.00000000 coin everyone use is 100 USD.

One person who is working in the country I mentioned get a paycheck of 50.00000000 coins

One person who is working in the weakest country on the same position will get 5.00000000 coins

And now comes the best part.

prices for bread in the fist country 0.00500000 coins

and guess what the price will be for bread in the weakest country? 0.00520000 coins

This scenario is inspired by real life salary and prices, the only difference is that everyone will know it for sure as a lot of people are not good at conversions and if they are they don't care about prices in other countries.
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November 02, 2016, 04:40:05 PM
 #10

I think this can unite all world. Now with so many currencies we have to many manipulations, companies are making ( stealing ) billions of dollars each year cause of different rates.
We actually don't know how banks are operating, different investment companies that earn money in this economy chaos.
I believe bitcoin can make some order in the world economy, who knows will that happen, I don't think current establishment will just let bitcoin to overtake world economy.

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November 02, 2016, 04:53:05 PM
 #11

The World economy will collapse... We have seen what has happened with the Euro {Struggling countries} The world economy are being

manipulated by their governments... They print money to solve their problems, but instead of solving the real problems... they just delay

it further... At some stage, all of this has to collapse... One currency will not solve the problem, if it was based on the fiat model.  Roll Eyes

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November 02, 2016, 04:56:52 PM
 #12

I don't know but what will the value of that one currency be based on? Having only one currency will make all the countries be affected economically as one country collapse the value of it will follow. Also having that kind of system will allow the inevitable for counterfeiters to do business as it only has one target. Different countries have different currencies as the value of the currency reflects to the economy of a country.

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November 02, 2016, 04:59:27 PM
 #13

What do think if all nation use only a one currency?, What happen to our world?, What the effect of the nation's economy?, It can make people's start to work each other without competing others?Any opinion. Cheesy
If there is only one currency in the world, humankind on this planet will unite as one. There will be only one government, one country, one nation. And because of that, it will be easier for developing the Earth. And i think within a century, humankind can be able to explore and study universe which is far far away from Earth. We can find new species

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November 02, 2016, 05:03:25 PM
 #14

What do think if all nation use only a one currency?, What happen to our world?, What the effect of the nation's economy?, It can make people's start to work each other without competing others?Any opinion. Cheesy
If there is only one currency in the world, humankind on this planet will unite as one. There will be only one government, one country, one nation. And because of that, it will be easier for developing the Earth. And i think within a century, humankind can be able to explore and study universe which is far far away from Earth. We can find new species

These are just imaginations, but none of them can be true even if that one currency thing happens.
It will only make clashes between countries but nothing else, every country would fight for getting the control on that one currency and in a result the world will become much worse than now where humanity is seen very less these days.
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November 02, 2016, 05:16:54 PM
 #15

Well if we have only one currency i think there is no trading currency online like this .. but it is impossible to happen you will never experience this kind of question. . better this thread is on off topic..

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November 02, 2016, 09:33:06 PM
 #16

What do think if all nation use only a one currency?, What happen to our world?, What the effect of the nation's economy?, It can make people's start to work each other without competing others?Any opinion. Cheesy
I think if only 1 currency available, inflation and deflation aren't a problem to everyone and also trading activity will be hard or even no trading activity around the world(currency trading).
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November 02, 2016, 09:42:45 PM
 #17

Do you mean as in One Fiat Currency? For example one "Earth" dollar.  In that case Purchasing Power Parity would be wiped from existence since the price level in each country would be based on the supply of that good.  It may work if the entire earth was aggregated into one entity with free trade since it would be based on the supply on the entire earth.
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November 02, 2016, 11:16:05 PM
 #18

What do think if all nation use only a one currency?, What happen to our world?, What the effect of the nation's economy?, It can make people's start to work each other without competing others?Any opinion. Cheesy

I think that the value of that only currency will be much higher than it is now and maybe the value would be like the dollar that was in 1913 which had a much higher value comparing with $1 today. But still people will trade things for things as the currency can't be always used.


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xuan87
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November 02, 2016, 11:43:25 PM
 #19

I think if that happen it will cause chaos and the economic will unstable, if the currency spread is not balance then it will cause inflation in the country that got least currency, so it's really important for each country to have it's own currency, so they have the power to control the inflation rate and their economic

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November 03, 2016, 03:51:01 AM
 #20

What do think if all nation use only a one currency?, What happen to our world?, What the effect of the nation's economy?, It can make people's start to work each other without competing others?Any opinion. Cheesy

I think if there would be only one currency being used by all nations, the world would be borderless. In the sense that there would be no limitation from one country to another. Goods and services can be bought without any conversion of money. Imagine that? We could pay imported goods without wondering what could be it's equivalent amount in our country if sold. And if ever this thing is possible, i think the value of imported goods doesn't matter anymore.
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