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Author Topic: Can it be possible for the whole wide world use a single currency?  (Read 971 times)
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April 28, 2018, 11:15:48 PM
 #21

if it becomes a global single currency it will be very dangerous for the whole world because just a few would have the control of the entire market and the entire single currency by being a monopol
You are right, but there won't be a monopoly if the global single currency would be something that no entity can control(decentralized). This is where blockchain comes in.
Bitcoin as a single currency is an awful idea. It would collapse economies all around the world, there would be nothing to measure it against, and not to mention not everybody would have access. That would fragment the world wide markets and for that reason it can't happen.
At least it can reach 6-7 figures and it has the potential to be the gold in digital money(since it is the pioneer) but for now I don't see it becoming an alternative way to pay stores globally in the future(because people use it merely for speculative purposes, and the number of stores that will accept it as a payment would be limited to stores that have access to it just like credit card).

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April 28, 2018, 11:22:35 PM
 #22

yeah, maybe if all people in this world are agree to using it and not just about that but must getting trough the govermet if you want to make it realize in our common transaction

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April 29, 2018, 12:52:51 AM
 #23

yes, it is posible! for as long as it is widely accepted in exchange of good and services then that would be find... europe is using 1 currency and they are find. it is not also imposible that bitcoin will be a single currency of world wide.
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April 29, 2018, 09:31:24 AM
 #24

I think that Bitcoin can be use as a matter of fact to be globally accepted. What is your take and which currency can you suggest to be accepted globally?
If this is about to replace fiat currency, it is possible but very unlikely to happen because no governments will ever give up the control of monetary system in their countries, governments will always wants to have that control. If it is about Bitcoin to be globally accepted, it is already but the problem is there are still some countries that don't like the idea of a currency being decentralized and highly volatile, that is why they want to prohibit or ban the use of cryptocurrencies. For me Bitcoin is still far from being a currency that can be used for daily needs, but it is still good as an investment or asset.
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April 29, 2018, 09:53:50 AM
 #25

I think that Bitcoin can be use as a matter of fact to be globally accepted. What is your take and which currency can you suggest to be accepted globally?
If this is about to replace fiat currency, it is possible but very unlikely to happen because no governments will ever give up the control of monetary system in their countries, governments will always wants to have that control. If it is about Bitcoin to be globally accepted, it is already but the problem is there are still some countries that don't like the idea of a currency being decentralized and highly volatile, that is why they want to prohibit or ban the use of cryptocurrencies. For me Bitcoin is still far from being a currency that can be used for daily needs, but it is still good as an investment or asset.
right, now cryptocurrency is better for investment, because it does not have a wide reach in the world. this is indeed related to the attitude of the government that has not legalized it. but i think it hard to get approvals from all countries into a single currency

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April 29, 2018, 10:20:22 AM
 #26

In my opnion, we will always have many various currencies to choose from. We could even treat gold, silved and other precious metals as currencies which won't disappear anytime soon. It is possible to create a currency which would be accepted in the vast majority of places in the world but don't expect every government to use it as their national currency. Everyone would like to have as much money as possible. How they can achieve it? By controlling the supply.

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April 29, 2018, 02:10:16 PM
 #27

No currency could be used in that way.Even USD getting accepted worldwide,it still is not able to replace other currencies of various nations.Bitcoin too has some drawbacks like limited supply which could not be changed,able to be used only online and could be used easily only by the literate people.

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April 29, 2018, 02:27:10 PM
 #28

I think that Bitcoin can be use as a matter of fact to be globally accepted. What is your take and which currency can you suggest to be accepted globally?
Wthat kind of noob question is this?after mentioning that Bitcoin can be use globally,then after asking what currency to be suggested in accepting globally?are you illiterate?or just dont know what you are saying?next time before trying to make a thread make sure that you understand whats the topic is..

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April 29, 2018, 02:33:12 PM
 #29

I think its gonna be somewhat hard if we'll be using bitcoin as our currency, the only currency I think it'll be hard since bitcoin is somewhat outdated because altcoins these days offer smart contracts while bitcoin does not, the devs must make huge improvements before we even start talking about bitcoin being a single currency, but again it is not impossible for that to happen, I'd like to experience that one day wherein we would all be using one single currency, and I'd like to see what currency will be it.














 

 

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April 29, 2018, 03:20:05 PM
 #30

Yes. And bitcoin can be the single currency worldwide since it is virtually and it has named in the society nowadays.
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April 29, 2018, 03:42:39 PM
 #31

Don't be stupid. Did you even put some thought before you wrote this? The total bitcoins that can ever be mined is 21 million and there are more than 7 billion people in this world. Even if each person has half a bitcoin, it won't be enough. Anyone who needs to use bitcoin needs to have a computer, an internet connection and basic knowledge of bitcoin.

The number of bitcoins really shouldn't matter, because each Bitcoin is divisible into 100 million satoshis. Plus the velocity of money is another variable in this equation. If bitcoins change hands quickly enough, then it could automatically serve a large number of people.


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April 29, 2018, 03:44:40 PM
 #32

I think its already happen all of us use single digital currency as a main credit payment of all we recieve from salary here or the service we provide to earn money and btc really help us due to fast and easy transaction we made.

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April 29, 2018, 03:49:43 PM
 #33

it would be very good of course but i think it is a bit early for this. because still bitcoin is not enough known and not proper for it. transaction times, fees etc everything should be revised andit would be very good of course but i think it is a bit early for this. because still bitcoin is not enough known and not proper for it. transaction times, fees etc everything should be revised and upgraded more. but in mid term i believe thiss will happen either bitcoin or an other crypto currency will rule the world upgraded more. but in mid term i believe thiss will happen either bitcoin or an other crypto currency will rule the world


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April 29, 2018, 03:55:53 PM
 #34

I think that Bitcoin can be use as a matter of fact to be globally accepted. What is your take and which currency can you suggest to be accepted globally?

I think so if they decided to but it comes with a lot of debates before it will done.

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April 29, 2018, 04:03:43 PM
 #35

I think that Bitcoin can be use as a matter of fact to be globally accepted. What is your take and which currency can you suggest to be accepted globally?

US Dollar you can already use worldwide; the merchant will accept it or you'll find somebody that will exchange for you a couple of dollars to get to solve your problem, at least this is what I've seen around.
If you want one currency to get the universal currency on Earth, there's a lot of politics (and maybe wars too) necessary to reach that point. It's quite far imho.
And if you want that currency to be independent from central banks (yes, I mean Bitcoin-like) then there's one more step to go, and it's a big one; for this the way of thinking has to be changed all over the world.

So imho this is tough.

There's a possible shortcut though. And Bitcoin can do that. A coin can become officially accepted everywhere as a secondary coin, not as the country's official currency. And I think that this is the best we can do for now. This is possible.

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April 29, 2018, 05:53:42 PM
 #36

No currency issued by a country can be single currency to me but bitcoin fits that though countries still use their currencies, bitcoin is used by everyone.
Over time, perhaps it will. When most countries legalize crypto currency, bitcoin and some other crypto-currencies such as ethereum, litecoin, monero can be used internationally as a single currency for various trade transactions and other types of financial settlements. However, it should be borne in mind that the crypto currency has very high volatility, and international agreements from the stage of preliminary agreement to the practical implementation of the agreement can take a very long time. The cost of crypto currency during this time can significantly change. Will it be profitable in these circumstances for states to carry out transactions in the Crypto-currency, time will tell.

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April 29, 2018, 06:09:13 PM
 #37

impossible
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April 29, 2018, 06:18:44 PM
 #38

The world cannot use a single currency as we have different economic level and development globally, the world cannot be on the same level,Bitcoin fit in as the global currency, but value is being determine in fiat  with dolloar rate.

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April 29, 2018, 06:19:00 PM
 #39

It is possible for the whole wide world to "accept" one or two currency, but I don't think it is possible to "use" a single currency in the entire world. You see, when bitcoin was first introduced, there was no need to have more than a thousand online money. But things happen. Almost every country accept dollars now. But that doesn't mean it's gonna be useful in the entire world. Economy is not the same in every country, the price of commodities varies from place to place. That's why this is probably not possible.
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April 29, 2018, 07:08:59 PM
 #40

I think that Bitcoin can be use as a matter of fact to be globally accepted. What is your take and which currency can you suggest to be accepted globally?
I'm sure bitcoin must be able to dominate the world. all countries will use bitcoin as a legitimate transaction tool. but despite that. the world still will not be separated from paper money. because paper money can be made as a symbol or a sign of the country.

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