What will happen if we use a one currency only?

[djselery]

Thats not possible unless all the world become united under global government, which is a bit magical idea. There is hundreds of countries using a lot of fiat currencies and that's natural, also there is so many crypto currencies nowadays and people trade many of them.
People are different, that's their nature, and we cant force people to use just one currency.

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[n691309]

for example if we use the dollar it will certainly be bad news to see the habits of the corruptors in Indonesia, they will never do small corruption. What if they later corrupted $ 50 million or even $ 1 billion. Countries will be dizzy to tackle such corruption cases. that is if we use only one currency, for example the dollar currency

Going toward using bitcoin only will be a great step in the fight against corruption and bribing specially . There will be no more money to be given in cash secretly to a certain person that fills a high governmental place and such calamities will be traceable and could be used as an evidence in court to sue people for their crimes .

In a case where the government has one single account which is being used for holding and transferring into other sectors right ?

I am still trying to wrap my head around the possibilities of that, considering securities of the fund, who manages the account and how honest the body is, and even if they monitor the disbursement of fund from one party to the other using the transaction hash, until how many tree will they successfully do that ?

Probably someone with a better perspective can help out in this situation.

[PMmesexycoins]

Going toward using bitcoin only will be a great step in the fight against corruption and bribing specially . There will be no more money to be given in cash secretly to a certain person that fills a high governmental place and such calamities will be traceable and could be used as an evidence in court to sue people for their crimes .

And that's also why it's not likely, even if just for that point, everyone is looking after their own best interests. Those that don't care for all their movements to be easily tracked would tend to gravitate towards crypto that offers better privacy options.

[Milo_Kidd]

for example if we use the dollar it will certainly be bad news to see the habits of the corruptors in Indonesia, they will never do small corruption. What if they later corrupted $ 50 million or even $ 1 billion. Countries will be dizzy to tackle such corruption cases. that is if we use only one currency, for example the dollar currency

I think if we use only one currency the overseas workers will not need to work on abroad. The high possiton at the certain company will high payment. Maybe no more currency trading because of only one currency. Thats for me. But I dont know the effect about world economics.

[Kevin77]

This is something near to impossible to happen. I don’t think so that this thing will ever happen. Almost every country is using its own currency and there seems no reason to leave behind your own currency just for the sake of some other currency.

As much as we cannot predict what the future holds, but there are some things that glaringly seem impossible and that includes having a unified global currency. Do you know why every country decided to stay independently with their own currency ? Who will be in control of the unified currency and how will it be distributed.

If what the OP is thinking is having bitcoin as a currency globally, then I guess he should wake up now and stop dreaming.

[Ajan08]

A single world currency would make international trade easier, but would subject all countries to a single macroeconomic policy. That could have the advantage of enforcing more fiscal discipline and honesty among governments, but the disadvantage of preventing central bank from intervening in markets. Personally, I’m not a fan of central bank interventions, so I would not be sorry to see a global currency, except that I think it’s politically unworkable and thus would be a disaster. A practical global currency requires a lot more international cooperation and transparency than we have today.

[Ayiranorea]

One currency system is simply hard to think about, because every country has different economic situation and when the single currency system is implemented automatically a diversification of the asset is a must. This creates a discrimination and country's won't accept the same.

[Coffee135]

A single world currency would make international trade easier, but would subject all countries to a single macroeconomic policy. That could have the advantage of enforcing more fiscal discipline and honesty among governments, but the disadvantage of preventing central bank from intervening in markets. Personally, I’m not a fan of central bank interventions, so I would not be sorry to see a global currency, except that I think it’s politically unworkable and thus would be a disaster. A practical global currency requires a lot more international cooperation and transparency than we have today.

Never be. Currency created for the country's economy. Each state has its own structure of the economy. In order to develop the state stimulates some sectors of the economy through its monetary policy. All States have different interests and will never achieve consensus in a common currency.

[Aikidoka]

Both of you say that using just one currency will bring corruption but neither of you say why and I can’t see the reason. Could you elaborate more? Corruption has always existed and it doesn’t matter if there is one currency or more, there will always exist. Apart from that, the fact that only one currency is legal worldwide doesn’t mean that people cannot start using other currencies, for example, small gold coins. Cryptocurrencies are another example.

I thoroughly agree with you, they should have stated the reasons. As a matter of fact, corruption has always been on earth since the beginning of mankind. Added to that, corruption is derived from greed, thus from the seven deadly sins. In other words, if the world depended on one currency, there would always be corruption no matter what the case it. And as long as there are corrupted people, corruption will remain because it is like a virus that is spreading throughout your body.

[fasdorcas]

for example if we use the dollar it will certainly be bad news to see the habits of the corruptors in Indonesia, they will never do small corruption. What if they later corrupted $ 50 million or even $ 1 billion. Countries will be dizzy to tackle such corruption cases. that is if we use only one currency, for example the dollar currency

It is better when we have one currency to all the world because all is going easy and quick process of all transaction especially for paying bills.Because no need to go to the money changer.Also all transact must be done all in computer and any kind of electronics processing.Its very easy to use,Thats why they are implementing BoiChips for the world processing and a one world goverment for one authority and power.

You are right about it being better, but the truth is it will never happen. There are always going to be multiple currencies and we need to accept this fact.

With that said, it is possible there could be one universal cryptocurrency from which all others trade/rely on such as Bitcoin or Ethereum. You can trade any coin/token using that "parent" one.

You have rightly said and I will support your argument. This is something near to impossible to happen. I don’t think so that this thing will ever happen. Almost every country is using its own currency and there seems no reason to leave behind your own currency just for the sake of some other currency.

When I first heard about bitcoin and discovered its decentralized nature, I wished it to become the only international currency which will be used by the whole world equally. Now I have high hopes of t becoming true. Like you, I am in favor of this idea.

It will not only decrease the trading problems but also unite people. We all will be at one level but I think governments won't let it happen.

[Gotottack]

I think if we only use one currency worldwide, there would be unanimity of economic activities in the sense that trade and commerce will be based only on one value. Although the said situation highly encourages obnoxious circumstances, it may have good effects in terms of supply and demand. Nonetheless, like all other things, it has it own pros and cons. 

[Milo_Kidd]

for example if we use the dollar it will certainly be bad news to see the habits of the corruptors in Indonesia, they will never do small corruption. What if they later corrupted $ 50 million or even $ 1 billion. Countries will be dizzy to tackle such corruption cases. that is if we use only one currency, for example the dollar currency

It is better when we have one currency to all the world because all is going easy and quick process of all transaction especially for paying bills.Because no need to go to the money changer.Also all transact must be done all in computer and any kind of electronics processing.Its very easy to use,Thats why they are implementing BoiChips for the world processing and a one world goverment for one authority and power.

You are right about it being better, but the truth is it will never happen. There are always going to be multiple currencies and we need to accept this fact.

With that said, it is possible there could be one universal cryptocurrency from which all others trade/rely on such as Bitcoin or Ethereum. You can trade any coin/token using that "parent" one.

You have rightly said and I will support your argument. This is something near to impossible to happen. I don’t think so that this thing will ever happen. Almost every country is using its own currency and there seems no reason to leave behind your own currency just for the sake of some other currency.

When I first heard about bitcoin and discovered its decentralized nature, I wished it to become the only international currency which will be used by the whole world equally. Now I have high hopes of t becoming true. Like you, I am in favor of this idea.

It will not only decrease the trading problems but also unite people. We all will be at one level but I think governments won't let it happen.

This will be possible if every leaders will agree and unite together to make this.

[kdiag]

corruption has always existed and will continue to be the same, without the difference, one currency or several

[Sled]

for example if we use the dollar it will certainly be bad news to see the habits of the corruptors in Indonesia, they will never do small corruption. What if they later corrupted $ 50 million or even $ 1 billion. Countries will be dizzy to tackle such corruption cases. that is if we use only one currency, for example the dollar currency

It is better when we have one currency to all the world because all is going easy and quick process of all transaction especially for paying bills.Because no need to go to the money changer.Also all transact must be done all in computer and any kind of electronics processing.Its very easy to use,Thats why they are implementing BoiChips for the world processing and a one world goverment for one authority and power.

You are right about it being better, but the truth is it will never happen. There are always going to be multiple currencies and we need to accept this fact.

With that said, it is possible there could be one universal cryptocurrency from which all others trade/rely on such as Bitcoin or Ethereum. You can trade any coin/token using that "parent" one.

You have rightly said and I will support your argument. This is something near to impossible to happen. I don’t think so that this thing will ever happen. Almost every country is using its own currency and there seems no reason to leave behind your own currency just for the sake of some other currency.

When I first heard about bitcoin and discovered its decentralized nature, I wished it to become the only international currency which will be used by the whole world equally. Now I have high hopes of t becoming true. Like you, I am in favor of this idea.

It will not only decrease the trading problems but also unite people. We all will be at one level but I think governments won't let it happen.

This will be possible if every leaders will agree and unite together to make this.

That is for sure, if we are going to have one currency only then there will be a unity in every country and all the leaders will agree to each other in order to make it happen and that is possible to happen if we are going to unite and forget all the bad history that happen between the different countries in the world and start a new united countries with one currency.

[btcprospecter]

The idea of us globally using one currency is great however with that would come a whole list of other problems. The rich would get richer and the poor poorer. Any form of trading would end.

[jostorres]

for example if we use the dollar it will certainly be bad news to see the habits of the corruptors in Indonesia, they will never do small corruption. What if they later corrupted $ 50 million or even $ 1 billion. Countries will be dizzy to tackle such corruption cases. that is if we use only one currency, for example the dollar currency

Going toward using bitcoin only will be a great step in the fight against corruption and bribing specially . There will be no more money to be given in cash secretly to a certain person that fills a high governmental place and such calamities will be traceable and could be used as an evidence in court to sue people for their crimes .

In a case where the government has one single account which is being used for holding and transferring into other sectors right ?

I am still trying to wrap my head around the possibilities of that, considering securities of the fund, who manages the account and how honest the body is, and even if they monitor the disbursement of fund from one party to the other using the transaction hash, until how many tree will they successfully do that ?

Probably someone with a better perspective can help out in this situation.

We can never use bitcoin as the sole currency of the world but yes it does make sense of using bitcoin as the international currency of the whole world along with paper money. Bitcoin is the only currency available at present that can give world the real meaning of global village and I am sure soon they will be used by everyone.

[Superways]

for example if we use the dollar it will certainly be bad news to see the habits of the corruptors in Indonesia, they will never do small corruption. What if they later corrupted $ 50 million or even $ 1 billion. Countries will be dizzy to tackle such corruption cases. that is if we use only one currency, for example the dollar currency

Going toward using bitcoin only will be a great step in the fight against corruption and bribing specially . There will be no more money to be given in cash secretly to a certain person that fills a high governmental place and such calamities will be traceable and could be used as an evidence in court to sue people for their crimes .

In a case where the government has one single account which is being used for holding and transferring into other sectors right ?

I am still trying to wrap my head around the possibilities of that, considering securities of the fund, who manages the account and how honest the body is, and even if they monitor the disbursement of fund from one party to the other using the transaction hash, until how many tree will they successfully do that ?

Probably someone with a better perspective can help out in this situation.

We can never use bitcoin as the sole currency of the world but yes it does make sense of using bitcoin as the international currency of the whole world along with paper money. Bitcoin is the only currency available at present that can give world the real meaning of global village and I am sure soon they will be used by everyone.

It will only take time and then it will not be any issue for any of us to use bitcoin as a one currency. Currently we are feeling it hard because in the current world bitcoin is not being used everywhere when it will start to use everyone then it use everywhere will be more convenient.

[mrcash02]

for example if we use the dollar it will certainly be bad news to see the habits of the corruptors in Indonesia, they will never do small corruption. What if they later corrupted $ 50 million or even $ 1 billion. Countries will be dizzy to tackle such corruption cases. that is if we use only one currency, for example the dollar currency

Going toward using bitcoin only will be a great step in the fight against corruption and bribing specially . There will be no more money to be given in cash secretly to a certain person that fills a high governmental place and such calamities will be traceable and could be used as an evidence in court to sue people for their crimes .

In a case where the government has one single account which is being used for holding and transferring into other sectors right ?

I am still trying to wrap my head around the possibilities of that, considering securities of the fund, who manages the account and how honest the body is, and even if they monitor the disbursement of fund from one party to the other using the transaction hash, until how many tree will they successfully do that ?

Probably someone with a better perspective can help out in this situation.

We can never use bitcoin as the sole currency of the world but yes it does make sense of using bitcoin as the international currency of the whole world along with paper money. Bitcoin is the only currency available at present that can give world the real meaning of global village and I am sure soon they will be used by everyone.

Bitcoin has potential to be declared as the global currency but it will take time to do so more work on its advertisement is needed and this thing will occur sooner as by seeing its popularity charts everyone is going to accept that it is kind of revolutionary thing that is influencing life of every single investor and if it becomes the global currency then world would be better place to live.

Global currency isn't good. Each country must have its own sovereignty, what means own currency, own culture, own laws, etc... Global currency smells globalism and that only standardizes the nations and the individuous. It's good to have lots of possibilities to use as currencies, if one goes wrong you can left it anytime to use another one.

[UchihaRukawa]

for example if we use the dollar it will certainly be bad news to see the habits of the corruptors in Indonesia, they will never do small corruption. What if they later corrupted $ 50 million or even $ 1 billion. Countries will be dizzy to tackle such corruption cases. that is if we use only one currency, for example the dollar currency

I think you are looking to much about the negative things that people do, I think having a single currency around the world will just show and encourage equality. Using one currency brings convinience as well, you can use the money that you are holding anywhere in the world without having the trouble of exchanging them.

[samtarly]

that will be a huge problem for us and one of those that surely will happen is destabilization. Since we will live in a world where one currency is only accepted, i think most commodities will become unstable to the point everyday it changes prices.