What will happen if we use a one currency only?

[freeyourmind]

This is something that European union has tried and partialy successeded, to use one currency for all member states. And still there are problems so I don't think it's possible for entire world to use only one currency. Many countries consider currency as part of their sovereignity and something that economy is dependent on so it's hard to abandone that.

The experiment of the euro has been a completely failure in my opinion, they tried to impose a single currency to different nations with different needs and we are seeing the consequences of that terrible mistake, I would not like to live in a country in which politicians are risking the future of the people in order to try to make an experiment work.

Consequences such as....? The Euro has made doing business and banking across borders much easier. Traveling has become much more comfortable without having to exchange money all the time. I don't want to think about how complicated buying Bitcoin would have been without the Euro.

There might be a shortage in supply , yet it will be much easier to travel plus to have more access in different activities worldwide. Though chance that it will be impossible to implemented since tgere are a lot of countries that are not in good terms to be able to happen this there must be a leader that everyone listened too.

The supply wouldn't be that important, because prices would need to change given whatever the money supply is.

A countries monetary policy would go away, which would be the ability to manipulate the money supply and cost of debt.

[mirakal]

[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.

There is no need to have one kind od currency. You can convert it to another anyway. But that would be hard to imagine.

It's not possible even in the future, we have different government and their power relies on what they can control and having one currency only is very complicated as there might be some chaos due to power control. The current system will continue, we shall still used different currencies but we can have one payment system if we will choose, and it could be bitcoin.

[Sled]

[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.

There is no need to have one kind od currency. You can convert it to another anyway. But that would be hard to imagine.

Having one currency is possible if we are united and acting as one nation but if there is a lot of countries that are separated to each other then expecting to use a one currency only is very impossible. One of the requirement also for that one currency is, it is easy to use in transacting not only by physical money but also virtually so there will be no problem in transactions.

[buwaytress]

This is something that European union has tried and partialy successeded, to use one currency for all member states. And still there are problems so I don't think it's possible for entire world to use only one currency. Many countries consider currency as part of their sovereignity and something that economy is dependent on so it's hard to abandone that.

The experiment of the euro has been a completely failure in my opinion, they tried to impose a single currency to different nations with different needs and we are seeing the consequences of that terrible mistake, I would not like to live in a country in which politicians are risking the future of the people in order to try to make an experiment work.

Issues of sovereignty aside, economically, the Euro has both successes and failures, but is not mature enough to conclusively be called "complete failures", no matter how hard the Euroskeptics will wish to be proven correct. It isn't the only regional currency to have been proposed, and I was surprised more countries were against this single economy concept. The UK held out, but with Scotland possibly out of the picture, the pound has taken a heavy battering.

[qiwoman]

This is very hard for all government to use one currency for the whole countries, technically it is impossible so that I think there is no need to make any comment about this from my point of view, there is big difference among their economy some countries are poorest.

[qwertyup23]

This is very hard for all government to use one currency for the whole countries, technically it is impossible so that I think there is no need to make any comment about this from my point of view, there is big difference among their economy some countries are poorest.

Agreed. Every country has different economies depending on how developed it is. If there is only one currency in the world, this would give rise to destruction and chaos from different parts of the world and would also create an unbalance in the system. Having only one currency will only make the poor poorer, and the rich richer due to the availability of the funds to them. Expect war from countries happening and poverty around the world increasing.

[HeRetiK]

I do not believe in the idea of launching a single currency for everyone, because a global currency already exists: The American Dollar.

Global currency would imply that you can use the American Dollar anywhere without exchanging it, which is far from the case. Of course there's a couple of countries with weak currencies where people take USD directly, but there's still... the rest of the world.

[deisik]

For practical purposes, in fact the American dollar is the universal currency par excellence since it is perfectly identifiable by most human beings and can be admitted even in the most remote corners of the planet. It is true that the dollar is subject to the great problems and weaknesses that the fiat money represents, but this does not diminish the desire of every human being  to obtain sooner or later his first million dollars. The financial experiment that has represented the euro is a proof that "inventing" a new universal currency from scratch represents many difficulties and solves few structural problems, so I do not believe in the idea of launching a single currency for everyone, because a global currency already exists: The American Dollar.

I don't quite agree with this view

While I concur that the US dollar is identifiable almost everywhere, it is certainly not accepted (or "admitted" in your terms) "even in the most remote corners of the planet". This is obviously not so. For example, in Europe you will have a lot of pain in the ass trying to pay with cash dollars. I guess it would be even worse in the remote corners of the world. So dollars are far from being the universal currency, at least, in the way you think. In fact, this has been discussed many times already

[Rostadom]

I wonder how will they distribute the money. Is it going to be a digital one? How are we going to convert our current currency to that new currency? Is the government free to continuously print it like the way they do in the current currency? A lot of confusion might happen but one thing is for sure, it will create chaos. Nations will be fighting over this new currency because there will be millionaires, maybe even a whole country, holding the currency to put a lack of supply of the currency to make its value go higher. There will be hardcore holding going on.

Humans aren't the type of people that will attain peace just because we all use the same piece of paper as a payment medium. I absolutely see no point on throwing out all the existing paper money and then reprinting one currency that's enough for the whole world.

[deisik]

This is something that European union has tried and partialy successeded, to use one currency for all member states. And still there are problems so I don't think it's possible for entire world to use only one currency. Many countries consider currency as part of their sovereignity and something that economy is dependent on so it's hard to abandone that.

The experiment of the euro has been a completely failure in my opinion, they tried to impose a single currency to different nations with different needs and we are seeing the consequences of that terrible mistake, I would not like to live in a country in which politicians are risking the future of the people in order to try to make an experiment work

Personally, I wouldn't demonize Euro-bureaucrats

Everyone seems to be hell-bent on cursing them while the European economy as a whole firmly retains its second place, only a little behind the economy of the US. Further, if the Euro currency in a complete failure as you claim, why then 1 Euro costs 1.14 American dollar as of now? When this currency had barely started in the late 1990's, it cost well below parity. Any way you look at that, it can't be viewed as a complete failure (perhaps, only in your eyes)

[oegarod]

Probably War 3 - Who knows?!!!

Possibly a war never happens anymore because now people has started to realize the value of human to some extent. The one currency system will not be effective as there will be discriminated growth happening between Countries.

[mostkey]

I think if the world has only one currency, it will be a bit chaotic, and the financial system will be irregular, due to different economic factors in each country.
This is not a good idea because it will only disrupt the world

[hurain]

I think if the world has only one currency, it will be a bit chaotic, and the financial system will be irregular, due to different economic factors in each country.
This is not a good idea because it will only disrupt the world

in very beginning it look like difficult, but with the passage of time everything will become ok. although implementation is not is not so easy it s time consuming but we need to take the step and start working and only then it can be possible. otherwise only planning is just to waste the time. 

[South Park]

This is something that European union has tried and partialy successeded, to use one currency for all member states. And still there are problems so I don't think it's possible for entire world to use only one currency. Many countries consider currency as part of their sovereignity and something that economy is dependent on so it's hard to abandone that.

The experiment of the euro has been a completely failure in my opinion, they tried to impose a single currency to different nations with different needs and we are seeing the consequences of that terrible mistake, I would not like to live in a country in which politicians are risking the future of the people in order to try to make an experiment work.

Consequences such as....? The Euro has made doing business and banking across borders much easier. Traveling has become much more comfortable without having to exchange money all the time. I don't want to think about how complicated buying Bitcoin would have been without the Euro.

The euro was not needed for that, they could have used the dollar or exchange their own currencies for that, the euro has caused that countries with high debt to be unable to inflate the debt away by printing their currency since they no longer have control over the currency, this means that an economic crisis that could be cut short by taking such measures now seems to be something that is never going to end.

[mostkey]

I think if the world has only one currency, it will be a bit chaotic, and the financial system will be irregular, due to different economic factors in each country.
This is not a good idea because it will only disrupt the world

in very beginning it look like difficult, but with the passage of time everything will become ok. although implementation is not is not so easy it s time consuming but we need to take the step and start working and only then it can be possible. otherwise only planning is just to waste the time. 

It seems that you think too shallow. Not just at the beginning. This will continue, if it can be realized so badly that there will be so much poverty in the world, dikarnakan can not keep up with monetary developments.

[GreenBits]

This is something that European union has tried and partialy successeded, to use one currency for all member states. And still there are problems so I don't think it's possible for entire world to use only one currency. Many countries consider currency as part of their sovereignity and something that economy is dependent on so it's hard to abandone that.

The experiment of the euro has been a completely failure in my opinion, they tried to impose a single currency to different nations with different needs and we are seeing the consequences of that terrible mistake, I would not like to live in a country in which politicians are risking the future of the people in order to try to make an experiment work.

Consequences such as....? The Euro has made doing business and banking across borders much easier. Traveling has become much more comfortable without having to exchange money all the time. I don't want to think about how complicated buying Bitcoin would have been without the Euro.

The euro was not needed for that, they could have used the dollar or exchange their own currencies for that, the euro has caused that countries with high debt to be unable to inflate the debt away by printing their currency since they no longer have control over the currency, this means that an economic crisis that could be cut short by taking such measures now seems to be something that is never going to end.

To many trade-offs with a global currency. Developed nations would love it since there would no longer be currency risk in international trade. Nations like China could no longer use currency exchange as a means to make their goods cheaper on the global market. But like the Euro, regional monetary policy would have to take a back seat to global momentary policy, and those that fall behind will stay behind because they can't manipulate their fiat, say, lowering interest rates to lessen the severity of a recession. But places with rampant inflation, is corrupt third world countries, it would be the bees knees. Imagine Zimbabwe on a dollar standard. Or Nigeria.

[NEWGOODOUBLE]

I think if the world has only one currency, it will be a bit chaotic, and the financial system will be irregular, due to different economic factors in each country.
This is not a good idea because it will only disrupt the world

in very beginning it look like difficult, but with the passage of time everything will become ok. although implementation is not is not so easy it s time consuming but we need to take the step and start working and only then it can be possible. otherwise only planning is just to waste the time. 

It seems that you think too shallow. Not just at the beginning. This will continue, if it can be realized so badly that there will be so much poverty in the world, dikarnakan can not keep up with monetary developments.

I do not know what makes someone want to make the currency into one? If there is only one currency then the balance will be destroyed. Imagine what will happen to the market when there is only one currency?
I think there's no need to think about it. We can use dollars anywhere. Without losing any other currency

[wilwxk]

There is the possibility of the price of the coin pumps high and who buy the coin in the first days will be rich, but if this coin breaks, hard forked or anything, everyone will lose much money.

[rizkyhiw]

I think if the world has only one currency, it will be a bit chaotic, and the financial system will be irregular, due to different economic factors in each country.
This is not a good idea because it will only disrupt the world

in very beginning it look like difficult, but with the passage of time everything will become ok. although implementation is not is not so easy it s time consuming but we need to take the step and start working and only then it can be possible. otherwise only planning is just to waste the time. 

nothing good will happened if the scenario applied ,
one currency indeed will only causing some chaotics ,
it's just like a random idea which should not considered at all as a serious one ,
the world will just turn crazy , and it's impossible to happened i guess.

[Shutup]

If we used one currency all over the world it is better because its easy to use anywhere we used to go.No need to go to money changer to have cash.But if we have currency only one person will become president or ruler in this worl so that this  world will become a one goverment.