What will happen to Bitcoin if IMF & World bank create ON WORLD Currency?

[Invester08]

Lately so much has been said about a New World order which will cripple the world ecconomy and introduce a new currency.
Does any one know what kind of crypto or paper currency they will Use?

[1714689587]

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[AGD]

Lately so much has been said about a New World order which will cripple the world ecconomy and introduce a new currency.
Does any one know what kind of crypto or paper currency they will Use?

Worldcoin

[davis196]

Lately so much has been said about a New World order which will cripple the world ecconomy and introduce a new currency.
Does any one know what kind of crypto or paper currency they will Use?

There will never be a single world currency.It doesn`t matter if it`s going to be fiat or crypto.
No country would want to lose it`s central bank and it`s own national currency.
What will happen to bitcoin?Absolutely nothing...

[Amph]

you are assuming that other country will use it only because it will be centralized and regulate, basically an "euro coin" that work with all the country

you see already all the issue with the euro, what make you think this will work instead? the only currency that can work a globally level is a decentralized one

[pinkflower]

But we already do have a new world order currency issued by the banks themselves. Theyre called credit cards. You can use it all over the world, its totally controlled by them, and the minute you use it its nothing but numbers in their system not backed by anything.

[vnvizow]

Lately so much has been said about a New World order which will cripple the world ecconomy and introduce a new currency.
Does any one know what kind of crypto or paper currency they will Use?

There will never be a single world currency.It doesn`t matter if it`s going to be fiat or crypto.
No country would want to lose it`s central bank and it`s own national currency.
What will happen to bitcoin?Absolutely nothing...

True, especially with the Euro-zone fails rn countries are now more reluctant than ever to give up their own currencies

[Juggy777]

This will never happen as no single country will allow a different country to work in his home at the cost of its own currency. For eg trump has said he wants to make $ strong and that's what each and every country tries to do. With the brexit looming do you think they would opt for it. Each and country has different currency and to find a common coin for them is very difficult. They earn in currency exchange, so they won't ever agree on the same coin, their earnings will be limited and the country that has all the coins can devastate the entire world economy. Sadly the one coin logic won't ever fit in

[Dudeperfect]

It would definitely create an impact on the world economy but still, bitcoin will retain its value even in that case because global acceptance is just one feature of bitcoin. The main reason for popularity is the complete control of the funds and even if world bank, IMF creates their own currency, it will be just another fiat IMO.

[BitcoinHodler]

people like you who say things like this have one thing in common: they don't know what bitcoin is and most probably have never used bitcoin.
bitcoin is a decentralized currency and that alone makes it different than any other so called currency that any bank or other centralized entities create. and because of it bitcoin will always remain useful as long as it is good to use and nothing is broken about it.

[franky1]

IMF & Worldbank wont make a one world currency par-say.

they have/will however control, secure, be the transport conduit, and the auditor of all the future FIAT currencies that get into using blockchains.
much like merging SWIFT, RTGS and other international wire transfer protocols into one

hyperledger allows subchains(sidechains/altcoins) that are all in the end audited by the hyperledger.
hyperledger itself wont have a 'coin' but will have a ledger to list and secure the audits of the other FIAT chains that join to the hyperledger network.

IMF, worldbank and BIS wont make money just having a "one world currency". they make money on the trades (forex swaps) between the different currencies and the demand/ supply of different currencies.

so there wont be a "one world currency" but there could/would be a one world network

[Xester]

Lately so much has been said about a New World order which will cripple the world ecconomy and introduce a new currency.
Does any one know what kind of crypto or paper currency they will Use?

Nobody knows except for the New World Order organization itself. But there is one thing for sure they will try to be the number one holder of that currency that will hit the world. And they will not stop on just having the huge amount of that currency on their disposal but they will use it to get political power and control over the military, society and the financial system.

[aoluain]

IMF & Worldbank wont make a one world currency par-say.

they have/will however control, secure, be the transport conduit, and the auditor of all the future FIAT currencies that get into using blockchains.
much like merging SWIFT, RTGS and other international wire transfer protocols into one

hyperledger allows subchains(sidechains/altcoins) that are all in the end audited by the hyperledger.
hyperledger itself wont have a 'coin' but will have a ledger to list and secure the audits of the other FIAT chains that join to the hyperledger network.

IMF, worldbank and BIS wont make money just having a "one world currency". they make money on the trades (forex swaps) between the different currencies and the demand/ supply of different currencies.

so there wont be a "one world currency" but there could/would be a one world network

Yup this sounds like a good theory.
would I be right in saying that really this is what Ethereum primarily is edging towards?

[Zadicar]

This wont happen since not all countries would really decide to approve such idea on making a world currency.As been said above they wont decide to give up their own currency since we all know that its currency symbolizes its sovereignty and power on a certain country.

[franky1]

Yup this sounds like a good theory.
would I be right in saying that really this is what Ethereum primarily is edging towards?

edging... yes
achieving.. no

banks WONT use any of the decentralised open altcoins or bitcoin as their mechanism.
banks will develop their own which they can control 100%. but have the 'automation' and security of auditing and transport of data features that blockchains offer.

in short making the world movements of 'money' more efficient. but still controlled by bankers

[sportis]

As I have read the idea behind a world currency it's not new and has been a matter of discussion of many people worldwide the last years. There is an article in 2009 IMF blog about a world reserve currency after the US Dollar. Even though is quite old it refers to a truly global currency which could be a store of value disconnected from local currencies and their inherent problems. I do not think that it was by chance in January 2009 the creation of the genesis bitcoin block. On the other side it's quite obvious that governments and banks will not let bitcoin to dominate as international currency. For this reason there are already some tries from banks to create their own digital cash using private and centralized blockchains. Who will be the winner is difficult to say. But if we remember something that known entrepreneur Antonopoulos Andreas had said that in the last we will win.

[franky1]

As I have read the idea behind a world currency it's not new and has been a matter of discussion of many people worldwide the last years. There is an article in 2009 IMF blog about a world reserve currency after the US Dollar. Even though is quite old it refers to a truly global currency which could be a store of value disconnected from local currencies and their inherent problems. I do not think that it was by chance in January 2009 the creation of the genesis bitcoin block. On the other side it's quite obvious that governments and banks will not let bitcoin to dominate as international currency. For this reason there are already some tries from banks to create their own digital cash using private and centralized blockchains. Who will be the winner is difficult to say. But if we remember something that known entrepreneur Antonopoulos Andreas had said that in the last we will win.

...a world "reserve" currency detached from local currencies...
check out the swaps the IMF are doing.. using .. SDR's. which are then converted to local currencies.
this too will be sidechained near the top of the hyperledger pyramid

but does not mean all local currencies will go and everyone just trading goods for crypto SDR's

[Kprawn]

How many countries do you know that would give up their local currency for some one world currency and what would be the benefit of that?

You have seen what happened to the Euro when some of the smaller countries economies failed.... the Euro suffered. Can you see Muslim

countries accepting the same currency as their enemies? .....North Korea using the dollar?  

[franky1]

How many countries do you know that would give up their local currency for some one world currency and what would be the benefit of that?

You have seen what happened to the Euro when some of the smaller countries economies failed.... the Euro suffered. Can you see Muslim

countries accepting the same currency as their enemies? .....North Korea using the dollar?  

countries wont want to give up their 'local currencies' but they will join together their SWIFT, RTGS and other transfer mechanisms to get a more practical, efficient and secure method of transporting value.

but in my mind let the banks play with their closed door fiat networks.

and let bitcoin be separate as the open currency for anyone to have without all the barriers and headaches or worries of government seizures simply for not paying tax on time or having a bank charge. due to them not having privkey access to funds be default

[Slark]

With one global currency countries would give up power over their own fiat, they wouldn't be able to devalue this new currency.
Devaluing help balance a budget, bring down debt levels and make exports more competitive (China is doing it all the time).
Local government will lose money if they couldn't use quantitative easing as a tool to regulate their economy so they will not accept One World Currency.

[Mometaskers]

I don't see this happening soon. Governments currently love their fiat and there are influential people who make most of their money from trading currencies,  they won't easily let this happen. Not to mention how hard it is to implement. When you lump economic powerhouses like Germany with laggards like Greece and make them use the same currency, you're going to have problems. Recent developments in the EU would definitely make other economic blocks like GCC and ASEAN think twice before adopting a single currency.