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

[dynospytan]

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 it is possible. Every country has its own financial institution and different levels in that. Removing these flaws by bringing a common mechanism would be the major  problem. Bringing one global currency in to scene, will increase debt on countries having low value currency. For example - Indian Rupee is downgraded compare to dollar and hence such conversion may lead to increase debt level over our country. The bigger a system gets,the more it become prone to faults. Distribution of powers among developed and developing countries would be another major problem.

[coinplus]

I think  it has no possibility ,because if that happen many holder of other coins well argue with that, and scamming will become more easy, and many people will make a way to avoid that just like what they have do when BTC value increase, they make other altcoin that more better than BTC such as bitcoin cash and more other cryptocurrency.
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There is absolutely no possibility unless we just want to be deceiving ourselves. Take a look at how things have been in most countries as centralization has been the norm of the day and we want to assume bitcoin to take that space ? No way !
As eager as we are to see things get so sweet and lovely with bitcoin being used widely, there are just some things that are pretty not possible to see happen and this is definitely one of them unless we do not want to be realistic.

[EddyGameta]

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?

Become the second currency to be precise, after the currency of a country of course. Would be a problem if a country doesn’t have a currency and depends totally on global finance, their economies could break apart especially if adopting Bitcoin in its volatility is a mass genocide. Perhaps the role of Bitcoin will be more like the current USD, not an official currency but still used massively.

[s0beit]

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 believe that it is still possible though we all know that it would really take a lot of time and a lot of things to consider. I believe that global market is starting to accept cryptocurrency as a currency. What the world needs it enough education about crypto for people around the globe.

[nebiki]

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

Yeah it is right that bitcoin has no borders and anyone can invest in bitcoin. It is the currency of the whole world and that’s why I can say that the whole world can use just one currency. It is good because the use of bitcoin is easy throughout the world. Payment is easy. Just transfer bitcoin from your wallet to the seller wallet in seconds and without any exchange.

It's a dream that probably have no chance of becoming real. Different countries have different beliefs and culture and having a common currencyay prove to be a problem since not everyone would be im agreement to certain aspects. It would be nice though but almost impossible

and if I think it's never going to lose a paper or a single currency and the people are sure to use a single currency even though bitcoin is already using a lot

[Nissan-GTR]

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?

No since most of the countries nowadays were fighting economically for being on top, for being the wealthiest country in rhis world if a single currency may be regulated rhis will cause war I guess due to the fact that not everybody will agree on a certain currency that may be not that familiar to them, the fact is people doesn't what anyrhing that involves complicated information and mechanics, I highly believe that this is impossible to happen.

[7Dyoknga5]

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?

secondary currency which is bitcoin I guess would be possible. But if we're talking about national currency, it's highly doubtable.

Leaders of each nation even fight for territories, nuclear powers, etcetera. This would also be an issue of surrending to one's currency.

[cryptoblue77]

It wouldn't be possible for the whole world to use single currency. As various governments all over the wouldn't accept it. They would like to use their own currency.

[niz3r_nade]

I think bitcoin still can not be a global single currency, because people still assume that fiat currency is easy to use as a daily transaction tool. bitcoin or currency digits itself there are still many people who do not know about this currency.

[Lubang Bawah]

I'm sure that if the world uses a single currency then poverty and unemployment will increase, we all know that the ruler of the world economy is a strong country like china, USA, Japan and so on, if the world uses a single currency then a third country will never be able to fix their economic life because it is too easy to control.

[Kray]

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?

Not, not officially, perhaps it will be more like USD that we use massively to transact even though there is a country that prohibits the use of foreign currency as a medium of exchange. I think it can be very possible if supported by Lightning Network and good price stability. But to reach that stage, we are still very far away.

[Phildo]

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?

Cryptocurrencies are most appropriate for global currencies because they are not tied to a particular country and not rely on anyone because everyone can contribute. But now there are many countries still refuse to use cryptocurrency as a valid exchange tool, it cannot be separated from its volatility is also a scourge at the same time that brought investors. But someday when the transaction of Bitcoin is as fast as lightning and the stability level is very safe then the country that uses volatility as a prohibition may be softened.

[Irviyandi]

If I think it's not possible if all countries in this world use the same currency because each country has its own currency and the currency is an identity itself and again there must be a country in the world that does not get along and now there is still war between countries, so maybe they use the same currency.

[Rony24h7]

No its impossible for the whole world wide use single currency. There has big fact, first, tell me what single currency will be the worldwide currency? Every currency has its uniqueness. If I take the Bitcoin will be worldwide currency, at that time also impossible. We know some of the countries don’t believe, bitcoin they just ban the coin. The other fact is that it’s so volatile, volatilely will not accept for the economy. If the bitcoin will be worldwide currency than the world economy will crash any time. So need stability. Still, the majority of the person doesn’t know about this currency so how will t possible to be worldwide currency.
We still can’t remove the bad thinking about crypto, If we able to get the trust or positive sign about the bitcoin in the worldwide, hope then it will possible to make. So thing a single currency will be worldwide currency is just imagination.

[Whosdaddy]

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 you mean using one currency, sorry that won’t be possible. But we can all use one payment method just like we are doing with Bitcoin and PayPal. You can use Bitcoin to send money to people no matter what country they are in the world unless their government stops them from making use of Bitcoin.

Apart from that, you can also make use of PayPal, but not all countries are making use of Bitcoin, just some countries. But I prefer making use of Bitcoin than PayPal, not because of fastness or whatever, cause if you talk about fastness I believe that PayPal is faster than Bitcoin… but Bitcoin has a less transaction fees.

[BartS]

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

You are not wrong with your predictions, but any cryptocurrency backed by fiat is not backed by anything, governments may try to make it seem as if the cryptocurrency they have created is better than decentralized currencies and I'm very sure that a significant portion of the population is going to be deceived, but the cryptocurrency they create will have the same weakness as fiat and that is that they will be able to print as much of their own crypto as they want, eventually this will create inflation and will reduce the value of their tokens.

[Odebode5]

It is possible and achievable in the likes of cryptocurrency,as we can see that bitcoin is getting global acceptance and if well regulated it can be used

[mobiljonson]

bitcoin can be used globally all the people of the world can invest their money into bitcoin. But there should be a regulation of bitcoin made by the government associated with investments in bitcoin. Either the government taxes the bitcoin.

[mkhadazz]

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 certainly will never be because I think if using only one digital currency that is used for all countries seems very improbable, bitcoin also will not be able to not even be able to become the main digital currency because the total supply of bitcoin is very limited and the cost of sending bitcoin very expensive not only that I believe bitcoin can not be the solution.

[LKing]

Currencies come in two basic forms: commodity money and fiat money.

Commodity money is as valuable as the material it's made of. A pound of iron is worth whatever it costs to buy one pound of iron. Pearls, precious stones, gold, salt... It's basically a somewhat valuable material in a form that makes it easy to trade. It's basically bartering, but the payment is in something easier to work with than the goods and services themselves.

The problem with this is that is that people will have different ideas of the value of something. Iron might be a great commodity for payment in one place, but so rare, or so common elsewhere that it just doesn't work. Sometimes, the value isn't so much in its utility as in its desirability, as with gold. Some peoples treated gold as less valuable than e.g. flint or slate, which had more utility to them. Today, most money isn't commodity money.

TL;DR: Commodity money is money made of something valuable, or valuable things used as money.

Fiat money is money that has value because someone, a bank or government, said it has. Sometimes, it's used to represent a specific amount (a gold or silver standard) or a specific percentage of a total. These are both susceptible to changes in the price of that commodity internationally, and to gains or losses of the bank or government's total amount of that commodity.

Then there's the additional printing of money, which cuts into the value of all money of that currency. If the idea is to keep the money representative of the gold/silver/whatever standard, you have to print more money when the price goes up or when you get more of whatever your currency is based on; and destroy money when the price goes down or when you lose some of that stuff. But you can also print more money to pay the bills, without actually having actual backing for that extra money. Because the economy today is based on business and trade far more than actual commodities, it's hard to figure out how much money you can print and keep the value of the currency right.

TL;DR: Fiat money is money that isn't valuable in itself, but everyone treats it that way because it represents something valuable.

The problem is that banks and governments want to have control of their money themselves rather than rely on some other government to handle it. There are places in the world where the government is so unstable that they prefer to use other nations' currencies instead, and there are places where many states or nations have joined together into an economic union and share a single currency. So we might soon have a single currency.

The reason we have so many is that the economic theory behind currency has developed over thousands of years, but humans have been so spread out over the planet that everyone kind of developed their own version. We never needed just a single one. As convenient as it would be today, nations would argue about who'd be in charge of it, what the printing policies would be, what it would be backed by, and things like that. A single currency would put the whole world under the control of whomever controls that currency, which is a bad thing.