What will happen if we use a one currency only?

[niap]

The economy of each country are different so implementing only one currency is not practical, advance/developed countries would benefit a lot and under-developed countries may suffer.

[ajmapalo22]

I think that is impossible to happen because each government has the power to control their currencies and if we will be using only one currency chances are one country will have the authority over every country in the world and that is impossible besides I don't think the supply can maximize the demand as well as the market control cannot be establish properly

[harryyjjones]

In my opinion this will never happen. Also think about Greece entering Euro zone.

[Osarman]

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 do not think that there will be a time in this world where and when everyone would be using just 1 currency. A lot more depends on such things than corrupt politicians and officials. A unified currency will never happen for fiat. It will always be different to each country or territory. The only type unified currency that may be a possibility is cryptocurrencies; such as Bitcoin and Ethereum. It has the power and potential to send an receive payments in a matter of minutes from whoever and whenever you want. That is far as it goes for a single currency in this world.

You may be right but I think otherwise. I think k this will be the best thing this world will ever see if we manage to see only one currency all over the globe. The biggest advantage it will have will be that you need not to worry about keeping different money while travelling across the world.

[Paid Piper]

It is difficult to regulate and circulate one currency to all over the world,
If you asked about bitcoin, that can't happen to bitcoin because it is decentralized.

Yes I agree with you. No other currency in the world crypto or fiat will rule over the world except bitcoin and the reason is no doubt decentralization. If you observe the market of crypto currency, the most demandable and valuable currency is bitcoin. That’s shy its price took jumps in a few months. It is because the trust of people in bitcoin all over the world. and the people trust is due to its unique features.

[BunnyShibe]

The economy of each country are different so implementing only one currency is not practical, advance/developed countries would benefit a lot and under-developed countries may suffer.

I think if all the people use bitcoin as a single acceptable currency all over the world, the monopoly of US dollars will crash and the people can easily trade and deal in bitcoin without any obstacles like exchanging, buying and selling other fiat or local currencies for their travelling and purchasing through the world. People will feel relax while using only bitcoin for all purposes all over the globe.

[Gameroid]

In my opinion this will never happen. Also think about Greece entering Euro zone.

Few years ago nobody even thought about smart phone. But now we see that everyone has smart phone and without smart phone people feel not good, like they are missing something. The same is here today with bitcoin. Everybody expects that using one currency all over the world is not possible but I think that it will happen in the future that there will be no other currency to use but bitcoin.

[YTBitcoin]

one current only that mean you only depend on central bank of that money so that when loose it you will loose any thing  it is so risky so that make more than one income soruce

Exactly. Too much power would be in the hands of a very few people so that won't be advisable for any society. Too much power causes corruption even for the most straight minded person.

If power is in one hand, then you won’t be able to get right things. Reason is, you said, most straight forward and right person could even get corrupt. Power shouldn’t be consigned in one hand rather must be distributed among many other hands for better running of system.

[flashbit]

No matter the currency, corruption will be always here. Having only one currency won't change anything or if it does it's only about to increase it. Since it makes it easier. Big firms, for example, are able to corrupt in any currency, in any language, in any country...

On another side, if the only currency is Bitcoin, it can help to fight the corruption. For example, when the population pays the taxes, we could see for what purposes the money is used and where it goes, since transactions are public.

1Taxes4eg5rcr82HmO4KhjhatBvf        ===> 1Health4dezrfHolrcelojJHfhkjh5sSlmsS (address for the social security/health)
                                                          ===> 1Edu4PjJ5Quht9jugtyrFno69fegvDRGH (address for school/program education)
                                                          ===> 1Infra4khftd2fyui7nuyt4dftyhYgyu15ni (address for  infrastructures: roads,etc...)
                                                          ===> 1Social54rftgre5rtgg78KIRgijsdcde4rgr (addresss for social help, families...)

I love the idea but i can still see flaws regarding on this one.Who would be the one to handle those wallets? Who are on the possesion on its access? I bet that argument would really be long for sure.Not all governments on the world wont do nothing about on having the control of such wallet for sure they would really aim on having the power. I do see chaos on this centralization on all the funds.

The idea itself is good,should take a look about it. (new Token/ICO will be done if they see it,so don't talk about it too much:)
Anyway,this idea deserve an indepth study

[StarofBTC]

In fact using just one currency will make things easier for everyone.. Literally...for the normal people for the government and for the corrupted society too..😅 Its more like a double sided sword... It willbe easy doing transaction and everything and prices will become stabilized for everyone in a while thus will be beneficial but at the same time..it willbe easy for people to exchange... Black money because usually when you convert international currencies govt. Does take a note of it and still some people manage to do so....so.. Making that currency only one... Will make this task easier for them.

Different people think in different ways. You think that one currency will make the things easier and many people think that bitcoin will create more problems. Because the governments will never accept and legalize bitcoin in their respective countries and will ban their fiat currency.

Because every government want hold over their currency. They print if they need more, while in case of bitcoin the people will be totally free from governments rules.

[Ilikechineseefood]

one current only that mean you only depend on central bank of that money so that when loose it you will loose any thing  it is so risky so that make more than one income soruce

I agree. If you have 1 currency in the whole world. It would be easier to buy things of course. But would take a huge risk with it. Because if there is a central bank for it and it will get hacked or something. So many people will lose their money.

[Carlsen]

One currency in the fiat world, I think it would damage the economy in certain areas in a big way.
When you look at the Euro, they made that experiment with a few countries. Even some of the industry nations that were used to devaluate their fiat got real problems.
Expanding that scenario worldwide, its consequences to many countries would be even more destructive.

[krauzzer02]

One currency for all the nations of this world is a great idea it sounds like a unity for different races of human. However, there are flaws in this kind of unified system in terms of the one who will handle the authority over to that currency, they will be granted the power to control and to enforce law over to that fiat and we have to submit to it no matter what, even it is a bad law because that is the only money that the world accepts. For now it is impossible to implement that and I disagree with that kind of currency system

[rjbtc2017]

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 don't think that this will eventually work, this is certainly a good idea, very futuristic but on the other hand other nations will not surely agree on this kind of set up specially to those countries that have a great value on their monetary system locally and internationally some of them are globally competitive to other currency. Currencies' price can also mean that this country is rich and powerful with this idea this is not applicable , if this will happen, I can only imagine this after a great war.

[bakkang]

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 have only one currency it is easy for us to travel in different countries without exchanging philippine money to dollar. We can achieve world unity even in a cryptocurrency. How do corruption involved in a one cryptocurrency in the entire world? Could you please elaborate that coz i dont understand why corruption is still there well in fact we talk about the one cryptocurrency in the world.

[the rise]

Every country struggles for independence and power respectively, if the world has only one currency it will only lead to war because it is a matter of integrity and ideology of each country.

Bitcoin can only be used as a common currency, and each country can still have its own identity. If the analogy of 1 currency is the dollar, then there will be no economic equilibrium around the world, and the dollar also can not develop because there is no comparative value and stuck on one side of the price alone. Another term there will be no economic equity.

[zarados]

Well as long as its just 'if', there will be an economic chaos in the world. Because each country should have a different value, status, culture and etc. So its impossible to happen. Except, maybe the whole country have their own cryptocurrency as a replacement of its currency. Its still have different value but have same type.

[Beparanf]

Well as long as its just 'if', there will be an economic chaos in the world. Because each country should have a different value, status, culture and etc. So its impossible to happen. Except, maybe the whole country have their own cryptocurrency as a replacement of its currency. Its still have different value but have same type.

it will be hard to have a same coin,maybe in type it can possible but it will depend on many area,such as the economic growth, the status of the Country ans acceptance and a lot more.

[jamesdean35]

it is okey to me if you know rises and drops it can be good profit.But it s soo hard tired for human i think because everbody has got their own life people need to live:D

[jaysabi]

Unification of currency will breed corruption, chaos, greater poverty, hardship, backwardness. Is just like narrowing it down to communism and communism thrives more in an indigenous society and not heterogeneous. It will breed chaos. This my view anyway.

How is any of that related to what currency is being used? All of that happens in every monetary system, in fact the only constant is that it happens in every monetary system. The underlying currency is irrelevant. If the whole world switched to bitcoin and used only bitcoin, it would still happen. There would be corruption and poverty just the same. What currency such inevitabilities happen under is not consequential because the outcome is not tied to a specific currency, but to the fact that there is any currency at all.