What will happen if we use a one currency only?

[Afnan_faizah]

Having an one currency around the entire world will provide a diversified economy throughout the country who have accepted such a method. In short, this will get used same as the European Union than has been functioning long with such a combined group of countries having the same currency.

Using one type currency is a good thing but there is a more important thing that is the kind of money that is used. People in the past were used gold for transactions but it's not practically, so they entrust their gold to certain people who sit in the banca ( derivied from the romans that mean bench, now we call it bank ) to get banknotes ( paper money), but now government prints paper money regardless the amount of gold,  this is why using paper money is not fair to us. We better to looking for the alternative, probably bitcoin is the best one.

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[Casmania]

Having an one currency around the entire world will provide a diversified economy throughout the country who have accepted such a method. In short, this will get used same as the European Union than has been functioning long with such a combined group of countries having the same currency.

Using one type currency is a good thing but there is a more important thing that is the kind of money that is used. People in the past were used gold for transactions but it's not practically, so they entrust their gold to certain people who sit in the banca ( derivied from the romans that mean bench, now we call it bank ) to get banknotes ( paper money), but now government prints paper money regardless the amount of gold,  this is why using paper money is not fair to us. We better to looking for the alternatif, probably bitcoin is the best one.

A global currency would affect every country and economy that the world has. It would probably unite nations or can cause more chaos. But I strongly believe that there will be a bigger competition in that since there is only one basis of every economy.

As for the gold that’s converted to paper money, in my knowledge (and to what processes we have in our country), it is the world bank that processes and prints the money worldwide— not the government— and they convert it to paper money or coins with the “conversion” they have. I don’t know how much gold to money costs, but I’m sure that there is. The gold given by the government to the worldbank is put into the money produced, whether its coin or paper — aside from their service charge.

[kutongcoin]

Implementing a single currency worldwide would be highly impractical, for the areas trying to to force a single currency would likely do more harm than good.The simple reason is if there is only on currency than it had to bear the burden of many under-developed economies.

It also affects some parts of the economy as it would strike down the need of financial sector employees and would generate huge unemployment.

[Afnan_faizah]

Having an one currency around the entire world will provide a diversified economy throughout the country who have accepted such a method. In short, this will get used same as the European Union than has been functioning long with such a combined group of countries having the same currency.

Using one type currency is a good thing but there is a more important thing that is the kind of money that is used. People in the past were used gold for transactions but it's not practically, so they entrust their gold to certain people who sit in the banca ( derivied from the romans that mean bench, now we call it bank ) to get banknotes ( paper money), but now government prints paper money regardless the amount of gold,  this is why using paper money is not fair to us. We better to looking for the alternatif, probably bitcoin is the best one.

A global currency would affect every country and economy that the world has. It would probably unite nations or can cause more chaos. But I strongly believe that there will be a bigger competition in that since there is only one basis of every economy.

As for the gold that’s converted to paper money, in my knowledge (and to what processes we have in our country), it is the world bank that processes and prints the money worldwide— not the government— and they convert it to paper money or coins with the “conversion” they have. I don’t know how much gold to money costs, but I’m sure that there is. The gold given by the government to the worldbank is put into the money produced, whether its coin or paper — aside from their service charge.

There are two system of printing money, pseudo gold and fiat money. In pseudo gold system, printed and circulated money is backed by gold or silver reserves owned by issuing institution, but some countries use fiat money system to print money, so the money in circulation is not supported by real asset or not even supporting by anything, tens years ago the government of my country cannot maximally collect tax from the people, so the president instructs to print money in excess. That's why we need to choose another currency to become the only currency that we use.

[borislt]

It is a little bit of a paradox, but it is kinda like saying that product sales for X model refrigerator would sky rocket if it was the only brand out there.  One forex has a extended time to get here and by the time it does, there are probably going to be other derivatives of Bitcoin that provide that objective greater. Then picking that one particular forex will be an additional probelm.

[Tumanggor]

[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 it's a very good thing, because it is certain that the price of goods in all countries of the world will be the same,
but it would be impossible to make just one currency in this world,
because each country still has selfish

[Ilegendph]

I think its not good if use one currency only. Imagine if it is centralized only one institution will hold the production of currency and it will be prone to terrorism as it is a weak spot because lack of currency only means we will go back to not being civilized. If it is decentralized it can be easily hold by rich people and they can dictate the value of that currency and the most of the time it is not good.

[ruslanv]

It is impossible to have one forex for all nations around the world. The winner will be the a single who controls the currency. Extremely typically to heat up the economy making use of financial emission. How can this be accomplished if other nations around the world are not rewarding.

[Cherylstar86]

Having an one currency around the entire world will provide a diversified economy throughout the country who have accepted such a method. In short, this will get used same as the European Union than has been functioning long with such a combined group of countries having the same currency.

Using one type currency is a good thing but there is a more important thing that is the kind of money that is used. People in the past were used gold for transactions but it's not practically, so they entrust their gold to certain people who sit in the banca ( derivied from the romans that mean bench, now we call it bank ) to get banknotes ( paper money), but now government prints paper money regardless the amount of gold,  this is why using paper money is not fair to us. We better to looking for the alternatif, probably bitcoin is the best one.

A global currency would affect every country and economy that the world has. It would probably unite nations or can cause more chaos. But I strongly believe that there will be a bigger competition in that since there is only one basis of every economy.

As for the gold that’s converted to paper money, in my knowledge (and to what processes we have in our country), it is the world bank that processes and prints the money worldwide— not the government— and they convert it to paper money or coins with the “conversion” they have. I don’t know how much gold to money costs, but I’m sure that there is. The gold given by the government to the worldbank is put into the money produced, whether its coin or paper — aside from their service charge.

There are two system of printing money, pseudo gold and fiat money. In pseudo gold system, printed and circulated money is backed by gold or silver reserves owned by issuing institution, but some countries use fiat money system to print money, so the money in circulation is not supported by real asset or not even supporting by anything, tens years ago the government of my country cannot maximally collect tax from the people, so the president instructs to print money in excess. That's why we need to choose another currency to become the only currency that we use.

Well,if that's the case then there should be a majority decision or plan to make it work. Actually, if we use only one currency,it will be easier for us to trade our products import or export. If the currency is dollars alone,then there will be no problems for money exchanger and it's worry free bacause we can travel everywhere using one currency. If ever bitcoin is our only currency,that will be the best decision to make because it has everything and it will be easier for us to send out money to our family and save some of our money. Therefore one currency is good.

[CloudStrife]

Everything would be simpler. To anywhere in the world wherever you go, you could use it without having to convert to the local currency, and therefore paying exchange rates.

However, having a single currency is a bit problematic, because if it fails you have the entire world economy at risk.

[ivaniyc1]

there is a chance that the economy will boost and there is always one thing bad will take place also, so the question here is what if we use only one particular currency if we utilised it the economic climate can boost simply because practically all of the folks will cooperate relating to to this currency they will often go over about it and the negative thing is individuals will battle towards to it.

[King Sastro]

This is a good idea, with one currency of course there is no significant price difference, we will get the price of 1 kg of apples in south africa the same price as in Thailand, I agree with the idea of one world one currency.

[SirLancelot]

Having an one currency around the entire world will provide a diversified economy throughout the country who have accepted such a method. In short, this will get used same as the European Union than has been functioning long with such a combined group of countries having the same currency.

The monopoly of dollars will come to an end. Because in this day only dollar is acceptable all over the world. No other currency you can take with yourself if you want to travel abroad.

But when there will only one digital currency which will be acceptable all over the world then there will be no tension to convert your local money in dollars or any other required currency. I will really appreciate this thing and will be very glad to see all the people using just one currency.

[WannaCry]

[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 believe not. It will be good for all of us since we have uniformity. Though, we need to adjust every value of the countries products that way the economy of all the countries will not fluctuate.

[waynechong1995]

I assume what you are referring is a term called supercurrency, it's very subjective and basically attributed to its feasibility. To answer your question let's look into the pros and cons:

Pros:
There will be no forex trade costs and no hedging.
There is also a notion of 'a more integrated world'.
It would promote tourism since the exchange costs will be negated, in other words the world would be more interactive and united.

Cons:
Kinda self-explanatory if you look into Greece economy currently after adopting Euro.
It wipes a nation's identity, especially the weak ones.

It is a good concept but not worthwhile enough to overhaul the entire fiscal process of the world.

[evgeniyosda]

If we will take care of bitcoin as an illustration for this variety of question then we can say that it will be a quite enormous aid for bitcoin to goes up quite large and breaks a great deal of ATH charges and make some more. The power of possessing a single forex only is by the demand from customers that can make factors crazier than just before like if we will use bitcoin only.

[gabmen]

[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 believe not. It will be good for all of us since we have uniformity. Though, we need to adjust every value of the countries products that way the economy of all the countries will not fluctuate.

You understand that it will be easier for corrupt people, who unfortunately sits in powerful positions, to hold everyone in the neck.  It's going to be good if we have honest people at the top.of the heirarchy but the way it stands, having a single currency may very well be used for personal gains by a few people

[musharaf]

In the case of currencies I think one currency is not good because if we have more than one currencies we can start trading in these and in the case of one currency if only one that may be devalue in the future and because of that you will lose the original value of your money. As for as one currency concern if you want to make money for the future you will not stake to only one currency. Now a days people are purchasing things online then if you want to do this you must have digital currencies for enjoying in your life.

[flyingcat]

[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 believe not. It will be good for all of us since we have uniformity. Though, we need to adjust every value of the countries products that way the economy of all the countries will not fluctuate.

You understand that it will be easier for corrupt people, who unfortunately sits in powerful positions, to hold everyone in the neck.  It's going to be good if we have honest people at the top.of the heirarchy but the way it stands, having a single currency may very well be used for personal gains by a few people

We do not have a one currency only because the world have not anyone can keep their greed when they have power. Therefore, we need to split many currencies and look like as decentralized the currency system on the world 

[Whosdaddy]

[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 believe not. It will be good for all of us since we have uniformity. Though, we need to adjust every value of the countries products that way the economy of all the countries will not fluctuate.

You understand that it will be easier for corrupt people, who unfortunately sits in powerful positions, to hold everyone in the neck.  It's going to be good if we have honest people at the top.of the heirarchy but the way it stands, having a single currency may very well be used for personal gains by a few people

Every picture has two sides, positive one and negative one. We are not going to get any fruitful results if we keep on looking at the negative side of the picture. In my opinion, the usage of only one currency by all the people living anywhere in the world will be the best thing for the good of all of us.

This will remove all the differences and we’ll be able to buy all the things at the same price. Moreover, there will be no need of keeping different currencies.