Can it be possible for the whole wide world use a single currency?

[BartS]

I think that if everyone in the world uses the same currency they are very good. But this is unlikely. Because a country will have its own currency, value and symbol for each country. The culture of each country is different to create its own identity. Currency too.

Using a single currency for the whole world will be a huge mistake, you must understand that economy of each country is different and each one of them needs their own currency so they have more flexibility to manage their economies, while I have huge faith in bitcoin I do not think we're going to see bitcoin being adopted as the official currency of any country, because bitcoin will be too restrictive to the economy of that country and they will be unable to manage their economy effectively, which means that even if cryptocurrencies will be adopted by a significant portion of the population we cannot hope to achieve that everyone adopt it.

[Finestream]

I think that if everyone in the world uses the same currency they are very good. But this is unlikely. Because a country will have its own currency, value and symbol for each country. The culture of each country is different to create its own identity. Currency too.

Using a single currency for the whole world will be a huge mistake, you must understand that economy of each country is different and each one of them needs their own currency so they have more flexibility to manage their economies, while I have huge faith in bitcoin I do not think we're going to see bitcoin being adopted as the official currency of any country, because bitcoin will be too restrictive to the economy of that country and they will be unable to manage their economy effectively, which means that even if cryptocurrencies will be adopted by a significant portion of the population we cannot hope to achieve that everyone adopt it.

Agreed.I do not think that there will come a time that the whole universe is going to use a single currency.We have our own currencies that are centralized in nature.And since bitcoin is a decentralized one,the government cannot monitor and control it which will make it very hard and difficult to make as an official currency.

[shulio]

There will be many crypto currencies that will be accepted globally, but I am in doubt if Bitcoin will be one of them.

[yoseph]

It’s actually very possible for that to happen in the real world but it’s going to take a lot of time and compromise for that to happen in the real world because it’s going to be hard for governments to do away with their national currency which makes it hard for them to just abandon it.

[stripewhite]

The world currently works on having lots of seperate 'floating' currencies. Because they 'float', their value changes relative to each other; for example one US Dollar buys 1.03 Canadian dollars buys 0.62 British Pound buys 0.73.

Now each country or each currency has a central bank, who can do certain things to make their currency worth more or less, depending on the needs of the day. For example, it might be really good for China to keep the value of the Yuan quite low so that Americans can buy Chinese exports for cheap and Chinese companies can make a lot of money. Countries that have to import a lot might prefer a higher valued currency and so on.

The problem is that each country has different things happening in it's economy. The Germans are very focused on exporting things like cars, which is fine, because they get money for their cars. But Greece isn't exporting much stuff at all, and in the mean time, each Euro isn't worth as much and the cost of things in the country tends to rise as a result. This is fine if you're getting more money because you work in Germany making cars and you're selling more and this year you got a bonus, but it's not so good if you're in Greece.

This is an economy that's doing two or more different things in different places and you end up with a weird situation where people in one area arent earning very much, but still have to pay the same prices as the people in the rich area.

This is a pretty simplified way of explaining it but tl;dr: Poor People would have to pay rich people prices for shit.

[Odebode5]

That's not possible to be using one currency in the whole world.

[Tyrantt]

Well, OP, that's what we kind of have now. Everyone's using bitcoin (apart from other alt-coins), so I'd say that it's being used globally.

But, if you mean that one and only one crypto will be used, then the answer is no. Creating your own crypto is easy nowdays and everyone can do it. Also, countries are developing their own.

The way I see it playing out is:

- all countries will have their own crypto, backed by fiat
- various cryptos will be used in various businesses they're designed for. One coin for one business.
- they'll probably become something of a token. Something like what steam has, but you'd be buying crypto instead of dealing with fiat on their platform



p.s. also what you're referring to is somewhat close to NWO

[qwertyup23]

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?

It is possible but very unlikely to happen given the circumstances currently. If the world would adapt and implement a single currency to be utilized, underdeveloped countries would suffer the most- making the rich richer and the poor, poorer. Hyperinflation would occur into different underdeveloped countries and they are subject to the abuse and manipulation of prices.
Though it may be unlikely, I still consider the possibility of having one standard of payment in the future. Maybe once countries are able to adapt change technologically and economically, then we might see the blockchain technology behind the platform.

[Chachacoin17]

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.

One of Bitcoin's main principles is that there are no borders it has to respect or abide by. It's one protocol that has no equal, and one that at the same time can't be stopped. It's pointless to focus on what paper money will be like by that time, we should only care about what matters for us, and that's slowly taking distance from dealing with fiat. Let countries have their paper money, we have Bitcoin, that's more than enough. In current times it requires only our smartphone to transact with others or buy our daily needs in stores. I could perfectly use Bitcoin as sole currency if it enjoyed more adoption and stability. Fiat is a mixture of state and corporation money, while Bitcoin is people's (everyone's) money.

very good input. with the bitcoin going to be one of the transactions, bitcoins and fiat currencies can go together without intercourse, they will have their mutual manifest. when fiat money can not reach inter-country transactions at low cost, we can take advantage of a bitcoin payment system, with minutes and no high fees

I believe this would be happening just in coming few years. Because this has a solid root cause. Bitcoins can’t just live in this world all alone, without presence of fiat money. While the fiat money can exist independently. But as bitcoins are getting more famous and popular.

There would be a day when bitcoins and fiat currency would be against one another in usage. Then their mutual combination can give relief to the mankind.

A lot of people may adopt bitcoin usage as their preferred currency of use, but believing it would serve as a single currency in the whole world is just one absurd way of thinking. Who governs it, where is the central policy going to be from ?

I guess some of us have forgotten what it means for some countries to be independent and unless each country wants to come up with their own policies for usage as a currency in the country, I don't see how it is going to be that easy and which we both know it is not possible to even have that as no government will pick decentralization over centralization.

Digital currency has emerged immensely, and is becoming more popular and recognized systematically. But the existence of fiat currency is still largely accepted compared to cryptocurrency, it has been in the global market for centuries. It is also the easiest form of exchange and trading all over the world, has legal tender and is backed up by the government. It's hard to conclude yet if single currency will be widely adapted because not all people are tech savvy, and also countries and establishments have its own jurisdiction and restrictions. Honestly, for whatever reason it's hard to foresee and its never easy, but if it will be totally regulated and legalized in the whole wide world it would take some more time. But I think cryptocurrency can still operate while fiat is also functioning on its own.

[rickadone]

I think if the world is gonna have a single and common currency, it would benifit all, but trading currencies wouldnt be possible then, but I think if the world is gonna have one, then cryptocurrency is gonna be their choice and the most commonly known cryptocurrency is bitcoin, I think it would be better if we will have different currencies for us to be able to trade and earn big.

The benefit is not even something we should be thinking about when the impossibility is more. Moreover, I really do not see how one system of governance is going to benefit anyone, as this is what it exactly implies in case we are not seeing that picture.

Secondly, I do not believe any government will even want to make that decision of picking bitcoin over their currency unless things have really gone so awry with their economy and this can only be done by accepting it alongside the fiat, and not imposing it as a single currency before we even start referring to the whole world.

[KotBas]

Despite the increasingly global nature of trade, the economies of each country around the world continue to differ significantly and require different management. Bringing all countries into one monetary policy could lead to political decisions that would benefit some countries at the expense of others.

[KenChanYu]

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.

One of Bitcoin's main principles is that there are no borders it has to respect or abide by. It's one protocol that has no equal, and one that at the same time can't be stopped. It's pointless to focus on what paper money will be like by that time, we should only care about what matters for us, and that's slowly taking distance from dealing with fiat. Let countries have their paper money, we have Bitcoin, that's more than enough. In current times it requires only our smartphone to transact with others or buy our daily needs in stores. I could perfectly use Bitcoin as sole currency if it enjoyed more adoption and stability. Fiat is a mixture of state and corporation money, while Bitcoin is people's (everyone's) money.

very good input. with the bitcoin going to be one of the transactions, bitcoins and fiat currencies can go together without intercourse, they will have their mutual manifest. when fiat money can not reach inter-country transactions at low cost, we can take advantage of a bitcoin payment system, with minutes and no high fees

I believe this would be happening just in coming few years. Because this has a solid root cause. Bitcoins can’t just live in this world all alone, without presence of fiat money. While the fiat money can exist independently. But as bitcoins are getting more famous and popular.

There would be a day when bitcoins and fiat currency would be against one another in usage. Then their mutual combination can give relief to the mankind.

A lot of people may adopt bitcoin usage as their preferred currency of use, but believing it would serve as a single currency in the whole world is just one absurd way of thinking. Who governs it, where is the central policy going to be from ?

I guess some of us have forgotten what it means for some countries to be independent and unless each country wants to come up with their own policies for usage as a currency in the country, I don't see how it is going to be that easy and which we both know it is not possible to even have that as no government will pick decentralization over centralization.

Precisely! I understand that we purposely want to have Bitcoin to be used as a single currency in the entire world to experience its uniqueness that sets apart from the traditional way of banking or investment. However government has a strong authority or influence and that's why it's hard for cryptocurrency to take over the spotlight of centralization that's already in the traditional market for generation. I still consider that it's going to be possible, since cryptocurrency has already been making noise from across the world, and many have acknowledged its value, but I don't think the process would be smooth and simple for its wide adaptation to become a single currency because of some considerable factors that might affect each objectives. After all, the choice is ours, either cryptocurrency will be used as a single currency or not, we can still use either of these as each of them offers different beneficial services.

[coinfinger]

I think that Bitcoin can be use as a matter of fact to be globally accepted.

Right now it is being used as a payment system and it's already globally accepted. Although there are some countries that prohibited it but the number on how many adopted it is many.

What is your take and which currency can you suggest to be accepted globally?

We are in bitcoin forum so it's obvious that I want to see bitcoin accepted globally without any problem. As I've said it's already accepted but it's better if those countries that banned it will remove the sanction.

The future is that of cryptocurrency and bitcoin is the king of this world. No doubt that in the future all the people will use bitcoin for their daily needs. Bitcoin will be the mainstream in the future. Now more and more people are investing in bitcoin because they know the advantages and usefulness of bitcoin. The use is easy and holding can give you a big profit after some time.

[Rizky Aditya]

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.

One of Bitcoin's main principles is that there are no borders it has to respect or abide by. It's one protocol that has no equal, and one that at the same time can't be stopped. It's pointless to focus on what paper money will be like by that time, we should only care about what matters for us, and that's slowly taking distance from dealing with fiat. Let countries have their paper money, we have Bitcoin, that's more than enough. In current times it requires only our smartphone to transact with others or buy our daily needs in stores. I could perfectly use Bitcoin as sole currency if it enjoyed more adoption and stability. Fiat is a mixture of state and corporation money, while Bitcoin is people's (everyone's) money.

very good input. with the bitcoin going to be one of the transactions, bitcoins and fiat currencies can go together without intercourse, they will have their mutual manifest. when fiat money can not reach inter-country transactions at low cost, we can take advantage of a bitcoin payment system, with minutes and no high fees

I believe this would be happening just in coming few years. Because this has a solid root cause. Bitcoins can’t just live in this world all alone, without presence of fiat money. While the fiat money can exist independently. But as bitcoins are getting more famous and popular.

There would be a day when bitcoins and fiat currency would be against one another in usage. Then their mutual combination can give relief to the mankind.

Though bitcoin has not gone mainstream yet and it absolutely needs a good amount of time before becoming legalized everywhere but once that will happen, there won’t be any room for paper money or fiat. Why would anyone go with slow and sloppy methods when they will have the option of wrapping up matters in seconds with ease? Bitcoin is the future of money and digital currencies are destined to replace traditional money methods.

[Bagaji]

Bitcoin cannot be and it will not be the world wild single currency that everyone will use in the whole world and will not any single currency that will be accepted world wild in my opinion.

[ProstoInvestor]

Since bitcoin is decentralized, it is a world currency and does not belong to any country. Bitcoin is the currency of the people, which unites the whole world.

[developer101dev]

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?

In my own opinion, it was really possible for that to happen in the future but since fiat on different countries does not have the same value of money then there is no doubt that government will not really agree on it.

[Arabella.Theo]

Its possible and its probably coming in this century I can help but see visions of all the dystopian films I have seen growing up when thinking about a one world government. Skynet will probably be the leader of this world haha. On a serious not though this is why I really love btc because its a version of cash that would suit this new cashless society

[dado7]

Somewhere in the future, we will all use one currency, yes. The world and free economy always strive towards the simplification, it is only the Governments that complicate things, but in the long run, they are powerless.

Governments should be there only to correct the misses of the free economy (like segregation between rich and poor), however mostly they only induce it.

[slackcryptoz]

Somewhere in the future, we will all use one currency, yes. The world and free economy always strive towards the simplification, it is only the Governments that complicate things, but in the long run, they are powerless.

Governments should be there only to correct the misses of the free economy (like segregation between rich and poor), however mostly they only induce it.

Same as the European Union having a common currency for usage, in the future there is possibility for a single currency usage around the globe. For the same, majority of the countries need to give approval which is not gonna happen in a short time period because economically grown countries will oppose it.