What will happen if we use a one currency only?

[serjent05]

One thing im sure if the world use one currency, there will be mass lay-off, those who are working at money exchanges, the same thing will happen to forex staffs.  There is no need of money exchange so all of their employees will be jobless.  This will have a great effect on the countries whose currency is not used.  Though transaction will be easier since there is no need of conversion, those that are living in the developing country will most probably benefits from this event.

In fact, a single world currency would likely end up killing people even more when it comes to inflation, due to an increased labor market and presumably increased inflation, meaning only the third-world earns "more" and everyone gets shafted.

even with multiple curriencies, crimes like robbing, killing for money is already rampant.  So there is no news about it happening when the world decided to use one currency.

[Slark]

One question: who will be in charge of that global currency? Are we even talking about old school FIAT system here?
Introduction of global FIAT currency means that countries will lose the way to manage their own currency.
In case of some local economic crisis something like lowering interest rates and increase the money supply to stimulate economic growth would be impossible.

[virusasog]

When all of us begin to us only one currency, I think it would be easy to transact since everyone uses the same currency and we will not need an exchanger at all. It will cause some people to lose their jobs but it will ease everyone's spending even when buying online. If this will happen it might be because all of the countries are under one government. That happening I think is great.

First, This will not practically happen. Then No any Government will accepts one centralized currency for all the countries to avoid economical imbalance. By miracle if it comes, This would be best go for the normal peoples and bad for scammers and multi national companies.

[Oilacris]

When all of us begin to us only one currency, I think it would be easy to transact since everyone uses the same currency and we will not need an exchanger at all. It will cause some people to lose their jobs but it will ease everyone's spending even when buying online. If this will happen it might be because all of the countries are under one government. That happening I think is great.

It would not be  great as  you think  , spending  with ease  anywhere on the world  would be the  advantage  on having a   one currency  but still you  wouldnt  know  that there would be  soo many negative effects   on this  . Competition would  arise  on each country grasping   more  money   hence   more of it  would symbolizes on how  powerful a country would become. Chaos would surely arise  on this  matter when theres only one currency and  many countries  would not   let  this thing to happen and they want to make their own currency.

[coynedterm]

[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.

if we will use only one currency then tge opportunity of increase our business whole about the world will be easy because of the reason of direct deal without foreign currency problems .
but a bad thing in this sense will be that , we will not able to make trade with multiple currencies .

[freedomgo]

One question: who will be in charge of that global currency? Are we even talking about old school FIAT system here?
Introduction of global FIAT currency means that countries will lose the way to manage their own currency.
In case of some local economic crisis something like lowering interest rates and increase the money supply to stimulate economic growth would be impossible.

That's the thing and I think it will be impossible to happen as even countries in the this world has no unity.. That would only be good if we have the same interest and we all follow on golden rule, it's like God ruling the world under that scenario and not even all of us here believes in God.

[varyspro]

This idea was embodied in the EU. when on the territory of several countries, one currency is introduced.

Oneness will be always good in my humble opinion. Because, the differences makes conflicts and difficulties.
When we are having a single government in this world there will not be any need of any restrictions and there will not be any chances of war too.

If there will be only one currency to use, I believe that will be solving many financial problems, but practically it will not be possible across different continent countries.

We, the people may bring that revolution by adopting bitcoins.

Theoretically - yes, practically - see this does not turn out to do. Bitcoin is a currency alternative, and not all of her trust. People like paper money.

[Fatanut]

Fiat currency is another way of finding out how good the economy of a country is. If their currency went from 1 unit = 0.05$ to 1 unit = 0.15$, then that's a huge improvement for their country. They tripled the value of their currency. Currency is also another way of the government to control us. Once there's only one currency, then that means that the whole world is ruled by one government and the presidents of different countries are below them.

I don't think that this will happen at all because there will always be a country that will refuse to the idea. The whole world will have to use resources for the printing of the new currency and the previous currency will just go to waste.

[MONKEYJUNK]

Fiat currency is another way of finding out how good the economy of a country is. If their currency went from 1 unit = 0.05$ to 1 unit = 0.15$, then that's a huge improvement for their country. They tripled the value of their currency. Currency is also another way of the government to control us. Once there's only one currency, then that means that the whole world is ruled by one government and the presidents of different countries are below them.

I don't think that this will happen at all because there will always be a country that will refuse to the idea. The whole world will have to use resources for the printing of the new currency and the previous currency will just go to waste.

What about a descentralized currency? So no single government will have the control

So what about create more fiat currencys? For example 1 for each state of an country?

[Sithara007]

I don't think that it is possible to implement the idea of a single fiat currency. So many questions will arise. Who is going to print this money? Who can sell treasury bonds denominated in this currency?

[Roger Burton]

It will create a huge disaster. You can use the same currency in the whole world so you don't have to change it every time in another currency, but the price of that currency will fall down and it can make new wars about whom will control the currency. I think it's better each country has different currencies because first it will makes it different from another( I mean that each country will have their own ''personality''), and also will make the people understand that they can make their currency more important for the world.

[erikalui]

Different countries have different rules in terms of taxes and economy and hence there would need to be an agreement between each country with regards to the division and the taxation which would be practically impossible. As of now, only USD is considered the global currency and it's rate defines the rates of other currencies but if we start using only one, the forex market would shut down completely and would instead be a risk as to which country would control the currency. It's like having only one Government for all countries.

[stark101]

The simple reason is if there  is only one currency,  than it had to bear  the burden of many  under-developed economies. Hence, the value  of that currency  would be highly  undermined  in terms of the performance of those economies which are struggling hard  to maintain their  status while the same value be highly overestimated  in case of those  governments who are just sitting  on the couch to gain their salary.

[MingLee]

It will create a huge disaster. You can use the same currency in the whole world so you don't have to change it every time in another currency, but the price of that currency will fall down and it can make new wars about whom will control the currency. I think it's better each country has different currencies because first it will makes it different from another( I mean that each country will have their own ''personality''), and also will make the people understand that they can make their currency more important for the world.

It would be pretty easy to do something where there is a single, permanent controller of the currency, there is no need to move it around or have it set up where a country controls it as an entity. For example, with the Euro, they have a single bank that maintains most of it. It isn't split between countries or controlled by a country, it is (technically) a state-less entity that exists and does its thing.

[buwaytress]

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.

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.

ya.ya.yo!

Quite agree that in the broadest economic sense, single currency systems are beneficial and bring the fastest growth to the least developed countries. This was the vision for regional currencies like the Euro and proposed mena currency (dinar).

Inevitably, the richer nations later air these grievances as they feel smaller nations develop at their cost (euro skeptics please feel free to pop in).

[coin-investor]

[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.

You mean not a crypto currency but a fiat money?I doubt if this is possible it will not unite people,because people are fighting for their own ideology and religious and each one to to impress one's belief to another.

Is it possible for a christian to use a money with words and symbols of another religion and vice versa?

[Rizky Aditya]

Every country would be arguing with each other on how to control the currency and it would be a huge mess. That's why w it would never work and each country should have their own currency that they can control.

It would also ruin the point of Bitcoin because there would be no more decentralization because people would be fighting over control of it.

[Zadicar]

[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.

You mean not a crypto currency but a fiat money?I doubt if this is possible it will not unite people,because people are fighting for their own ideology and religious and each one to to impress one's belief to another.

Is it possible for a christian to use a money with words and symbols of another religion and vice versa?

I dont think that theres a religion involve on printing out on fiat money. Maybe on the culture but not on religion itself. Having one currency will really make trouble because countries will surely accumulate and get more money since it will surely symbolizes the power of a particular country and this war or scenario would never end. Beliefs and culture do really differ and making one currency will surely create a big debate from all leaders of the world.

[zero1ten]

That would be very beneficial to ordinary people because there would be no inflation on currencies and the value of money will remain the same and that would mean a better purchasing power across all social status, not just the rich people.

[X-ray]

Every country would be arguing with each other on how to control the currency and it would be a huge mess. That's why w it would never work and each country should have their own currency that they can control.

It would also ruin the point of Bitcoin because there would be no more decentralization because people would be fighting over control of it.

If there's only one currency in this world then no country could take control over it but all countries will be unite and making an organization to control it with and each country will have their representation on deciding anything. things work like democration and every move will be decided with voting
i guess that's what is going to happen if the world only have one currency