What will happen if we use a one currency only?

[passionsurf]

If the world only uses one currency, then we should choose alcohol. Or maybe sugar. But probably alcohol.

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[John Wick]

I don't think that is a good idea because one nation can affect the rest of the countries in terms of economy, for example the minimum wage of another country is much bigger than the rest of the countries because of the standard of living. Also it can be vulnerable to crimes because a syndicate can target one country that has a weaker national security in which they can steal all of their national budget in their own ways.

Here you miss something, you say one nation can't handle all the burden. That's right but in bitcoin there is no nation. We're all united, aren't we? So bitcoin can do this in future.

[bitcoin31]

If we have only one currency I think theres no trading and the price will not increase high because the trading or altcoins helpful because for example the trader want to buy altcoin so they buy bitcoin to buy altcoin and the price start increasing.

[hurain]

I don't think that is a good idea because one nation can affect the rest of the countries in terms of economy, for example the minimum wage of another country is much bigger than the rest of the countries because of the standard of living. Also it can be vulnerable to crimes because a syndicate can target one country that has a weaker national security in which they can steal all of their national budget in their own ways.

to me i think it is a good idea, because bitcoin is going to compel all the people of the world to use the one and the only currency and that is bitcoin, i think  it will be really in favour of all the people of the world to use a single currency through out the world.

[Hutalar]

I don't think that is a good idea because one nation can affect the rest of the countries in terms of economy, for example the minimum wage of another country is much bigger than the rest of the countries because of the standard of living. Also it can be vulnerable to crimes because a syndicate can target one country that has a weaker national security in which they can steal all of their national budget in their own ways.

to me i think it is a good idea, because bitcoin is going to compel all the people of the world to use the one and the only currency and that is bitcoin, i think  it will be really in favour of all the people of the world to use a single currency through out the world.

If there will be only one currency used all over the world then it is possible that the facilities to all of the countries will also come to a same level then there will not be able issue of different wages. All of the people will be connected to each other through that currency and that currency will also increase high up.

[tigershark]

[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.

The answer really depends on who controls the currency. The US dollar is controlled by the US government so they can print more money if they want to control it by reducing the value per dollar. I don't think a world currency could work if one government had all control.

I think the only way it would work for all the world to use a standard currency is if it was decentralized like bitcoin or was regulated by a group of nations together.

[HaXX0R1337]

If the world only uses one currency, then we should choose alcohol. Or maybe sugar. But probably alcohol.

So you think we will be the starting the old barter system once again   ,that is hilarious ,it is not possible to go back to century old custom and it is not possible to accept a single currency world over,the economic structure could not work like that,but bitcoin is used as a global virtual currency,how about that,what more do you need.

[Maslate]

If the world only uses one currency, then we should choose alcohol. Or maybe sugar. But probably alcohol.

So you think we will be the starting the old barter system once again   ,that is hilarious ,it is not possible to go back to century old custom and it is not possible to accept a single currency world over,the economic structure could not work like that,but bitcoin is used as a global virtual currency,how about that,what more do you need.

Single currency means there is a unity universally, that wouldn't be possible as every country is represented with a leader.
People are greedy, it will not happen, in fact countries do compete to prove who is the biggest and the strongest.

[ufaiz50]

If the world only uses one currency, then we should choose alcohol. Or maybe sugar. But probably alcohol.

So you think we will be the starting the old barter system once again   ,that is hilarious ,it is not possible to go back to century old custom and it is not possible to accept a single currency world over,the economic structure could not work like that,but bitcoin is used as a global virtual currency,how about that,what more do you need.

Single currency means there is a unity universally, that wouldn't be possible as every country is represented with a leader.
People are greedy, it will not happen, in fact countries do compete to prove who is the biggest and the strongest.

all countries are competing on who is strongest and it doesn't make sense to use one currency as the world's currency and bitcoin itself has altcoin to compete. all people have different thoughts or personalities if to be forced to be the same is very unlikely.

[qiman]

The Elites will control us 100% and we will be ultimate slaves. Only a decentralized currency would work but even then, with only one currency there will be no trading and much profit will be watched. I doubt this will ever happen.

[gracia0023]

If we will use one currency only, the value of money around the world will be the same.  If that happen, more people do not have to go to other countries to work. Meaning, long distance relationships will be eliminated.  There will be no inflation and deflation of currencies because all currencies are equal.  The idea of having centralized currencies is interesting but it must undergo in careful and properly discussions and deliberations of all countries and clear set of rules and regulations must be formulated before launching it.

[JoMarrah Iarim Dan]

[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.

Every nation use only money as the currency. But there are different currencies for every different countries. There are US dollars, European euros, Australian dollars, British pounds, Philippine peso. If you're in the Philippines you must have Philippine peso but that Philippine peso has no value when it comes to US, Australia, Britain, and Europe. You must change or convert it to the currency of the country you are going to. If it happen that there is only one currency for all different countries like bitcoin, that's great. Anywhere you go you can use your bitcoin and you will not convert or change it. Maybe the country that has not so progressive economy will have a hard time to cope up with countries that have a very progressive
economy like Philippines and US.

[deisik]

We all know that currencies represents their designated countries. For example is US dollars for America, Yen for Japan, Euro for European countries, Baht for Thailand and etc. if we are going to use a single currency for all the countries in the world. Money exchange or money conversion will not be needed anymore. Using a single currency would be less hassle in buying, selling, paying or for any money transactions done online.

It will be beneficial but I also think that if this will ever happen in the future, there would be many talks, meetings and things needed to be done before the implementation or application.

Maybe crypto currency like bitcoin has a big chance to be the only currency that will remain in the future. Bitcoin’s characteristics are best suited for online transactions but just like what I have said. There are many things needed to be done before something like that happens.

Investors and people with large businessess will not let this happen. They will unite to sustain their selfishness and greediness. They are the ones who take advantage of multicurrencies and many of them hold half of the worlds businessess. So that means it's impossible

I can't agree with this view

It is in fact these big-time investors and owners of large business and multinational corporations who are going to profit most from the world currency. It seems to be sort of consensus here that such a currency would make the rich even richer while the poor even poorer. And the rich are these dudes precisely. Really, if you own a business like Apple which has global presence, local currencies are a hindrance to your worldwide operations. With one currency, it will be a lot easier for these corporations to steal the wealth of nations

[South Park]

[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.

This is bad idea, just look what it is happening in the euro zone, countries have different economic realities, some need to increase the supply of money at different rates but since all of them use the same currency then they cannot do it, that is why countries like Greece are going to be indebted forever if they keep themselves on the euro.

[star citizen]

It will be a long road ahead, but when that happens society will achieve a level of freedom and progress never achieved before. But only if the currency maintains the properties that make it decentralized.

[Vikingr]

[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.

This is bad idea, just look what it is happening in the euro zone, countries have different economic realities, some need to increase the supply of money at different rates but since all of them use the same currency then they cannot do it, that is why countries like Greece are going to be indebted forever if they keep themselves on the euro.

I think if we rely on a single currency which will be totally decentralized and which will not have a single country are authority and as a national power of that currency then all of the countries of the world will feel fair in using that single currency.

[South Park]

[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.

This is bad idea, just look what it is happening in the euro zone, countries have different economic realities, some need to increase the supply of money at different rates but since all of them use the same currency then they cannot do it, that is why countries like Greece are going to be indebted forever if they keep themselves on the euro.

I think if we rely on a single currency which will be totally decentralized and which will not have a single country are authority and as a national power of that currency then all of the countries of the world will feel fair in using that single currency.

The problem is this is impossible, many people in the world live with very low salaries, so they cannot pay internet or a smart phone, so they cannot use cryptocurrencies so they will have to rely on cash for that and the only entities at the moment emitting cash are central banks so I don’t see how that is a viable solution until technology becomes dirt cheap.

[el kaka22]

[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.

This is bad idea, just look what it is happening in the euro zone, countries have different economic realities, some need to increase the supply of money at different rates but since all of them use the same currency then they cannot do it, that is why countries like Greece are going to be indebted forever if they keep themselves on the euro.

When there will be a single currency for all the countries then I guess individual country should not have right to mint money alone. That must be the problem those European countries are facing.
I guess we are slowly moving toward the world of having one single currency. Even governments will not be doing this, people must be making this into reality in coming years.

[FLoving]

It will be a long road ahead, but when that happens society will achieve a level of freedom and progress never achieved before. But only if the currency maintains the properties that make it decentralized.

I agree with your point as if we will rely on only one coin then we will get more success in that one currency and then we will fully get all of the benefits from that one currency because almost all of the developers will also work for bitcoin currency.

[jayc89]

It will be a long road ahead, but when that happens society will achieve a level of freedom and progress never achieved before. But only if the currency maintains the properties that make it decentralized.

In that situation there would be a bunch of people trying to get Bitcoin while there won’t be enough Bitcoin to go around in Bitcoin Exchanges, that will cause the price of Bitcoin to increase so far it would be pretty sad to have it compared to the price that it is right now. We’ll see.