Why the global currency cannot be 100% internet based and if we will have one

[fiulpro]

Hey guys what do you think ?

Will we have a global currency?

I personally think that the idea of global currency will benefit citizens, there won't be exchange tax and other things , but at the same time it will kill the competency of the countries that the political leaders think is important , there will be no more best to worst currencies , no exchange rates and nothing.
Will it be beneficial?

I think the benefits are more than compensating for the bad effects.

I think this wide variety of currencies  do have some advantages
If we will have a global currency will it be internet based?

I don't think it can be internet based because more or so there will always be a sector which doesn't plan on using the money and worse who doesn't know how to use the internet and how do you plan on giving this advantage to the tribal people ? It will be worse , it will be like , if someone wants to kill the economy of the world entirely they just need to shut down the internet and everything, every transaction will stop.

Please share your views ?

[magneto]

Hey guys what do you think ?

Will we have a global currency?

I personally think that the idea of global currency will benefit citizens, there won't be exchange tax and other things , but at the same time it will kill the competency of the countries that the political leaders think is important , there will be no more best to worst currencies , no exchange rates and nothing.
Will it be beneficial?

I think the benefits are more than compensating for the bad effects.

I think this wide variety of currencies  do have some advantages
If we will have a global currency will it be internet based?

I don't think it can be internet based because more or so there will always be a sector which doesn't plan on using the money and worse who doesn't know how to use the internet and how do you plan on giving this advantage to the tribal people ? It will be worse , it will be like , if someone wants to kill the economy of the world entirely they just need to shut down the internet and everything, every transaction will stop.

Please share your views ?

If there were to be a dominant global currency, it will be internet based.

It simply doesn't make sense to bring back the gold standard or silver standard when there is something far more convenient, in my opinion. Especially when you take into the costs of making transactions overseas if your proposed form of global currency exists in a physical form only, it's not much better than having to exchange between different currencies right now.

Your concern about the ease of which the currency may be shut down/targeted also doesn't make sense. Shutting down the internet is a much more difficult task than what you would imagine, and if the currency is decentralised like bitcoin, even more so. It might actually be easier to overthrow a global currency that is issued in physical form by a single entity.

[riritsurya1202]

I don't think it can be internet based because more or so there will always be a sector which doesn't plan on using the money and worse who doesn't know how to use the internet and how do you plan on giving this advantage to the tribal people ? It will be worse , it will be like , if someone wants to kill the economy of the world entirely they just need to shut down the internet and everything, every transaction will stop.

I don't think your assumption is correct. Let's say it's true that every sector don't adopt the internet-style of doing thing, but does that means they can do their business efficiently? I doubt that. For those who don't know the internet or tribal people, they don't even need it do they? I mean, they don't even need to use the internet at all. But of course they can learn and know about it, and hopefully it will help their society to progress further (we can debate what 'further' means though).

Saying we can kill the internet is too simple. The damage of doing such thing is probably greater than stoping some currency to be widely used via the internet. Banks or business in general will stop and no economic activities can continue.

[KennyR]

Hey guys what do you think ?

Will we have a global currency?

I personally think that the idea of global currency will benefit citizens, there won't be exchange tax and other things , but at the same time it will kill the competency of the countries that the political leaders think is important , there will be no more best to worst currencies , no exchange rates and nothing.
Will it be beneficial?

I think the benefits are more than compensating for the bad effects.

I think this wide variety of currencies  do have some advantages
If we will have a global currency will it be internet based?

I don't think it can be internet based because more or so there will always be a sector which doesn't plan on using the money and worse who doesn't know how to use the internet and how do you plan on giving this advantage to the tribal people ? It will be worse , it will be like , if someone wants to kill the economy of the world entirely they just need to shut down the internet and everything, every transaction will stop.

Please share your views ?

There will be a crypto backed fiat currency where you can take the notes to the bank and receive crypto in your account, like how they used to do with silver notes in the US.

That's a possibility and apart from that we cannot expect a single common currency for the world. Each and every country has got its own economic growth and depending on the same will be their currency value, when they too were given the common value the grown countries won't accept it. For me bitcoin now is a universal currency and has got all the access throughout the world. There isn't much issues with taxes as well.

[davis196]

Nobody can shut down the internet,because internet is a network of servers.Can you shut down all of them?
That's why nobody can shut down the blockchain.As long as there are miners,the blockchain will continue to exist.By the way,bitcoin can be printed on paper.Nobody is saying that bitcoin will be 100% digital.
We already have a global currency.It's called US dollar and it's a pretty shitty global currency.

[alisafidel58]

Will we have a global currency?

Nope, I think it's impossible.

I personally think that the idea of global currency will benefit citizens, there won't be exchange tax and other things , but at the same time it will kill the competency of the countries that the political leaders think is important , there will be no more best to worst currencies , no exchange rates and nothing.
Will it be beneficial?

Which citizens? What would be its value? Without competition in the market, it will have no value. Do you think it will be adopted by major companies all around the world whos complaint with their own government rules?

I think this wide variety of currencies  do have some advantages
If we will have a global currency will it be internet based?

Internet base currency will lack the support of normal people. Not all people can use the internet to purchase something and there are still place on the earth that is not within the reach of the internet.

[leea-1334]

Nobody can shut down the internet,because internet is a network of servers.Can you shut down all of them?
That's why nobody can shut down the blockchain.As long as there are miners,the blockchain will continue to exist.By the way,bitcoin can be printed on paper.Nobody is saying that bitcoin will be 100% digital.
We already have a global currency.It's called US dollar and it's a pretty shitty global currency.

You can shut it down in parts of the world, or even in a country. The internet is centralized at the moment, this is the problem. And something some people are trying to fix. If you decentralize internet, like Bitcoin with nodes distributed all over the world, then sure,,, you improve chances of servers always able to send and receive information requests.

Bitcoin is digital make it on paper does not make it physical,,, or does it? I am confused.

[fiulpro]

Hey guys what do you think ?

Will we have a global currency?

I personally think that the idea of global currency will benefit citizens, there won't be exchange tax and other things , but at the same time it will kill the competency of the countries that the political leaders think is important , there will be no more best to worst currencies , no exchange rates and nothing.
Will it be beneficial?

I think the benefits are more than compensating for the bad effects.

I think this wide variety of currencies  do have some advantages
If we will have a global currency will it be internet based?

I don't think it can be internet based because more or so there will always be a sector which doesn't plan on using the money and worse who doesn't know how to use the internet and how do you plan on giving this advantage to the tribal people ? It will be worse , it will be like , if someone wants to kill the economy of the world entirely they just need to shut down the internet and everything, every transaction will stop.

Please share your views ?

If there were to be a dominant global currency, it will be internet based.

It simply doesn't make sense to bring back the gold standard or silver standard when there is something far more convenient, in my opinion. Especially when you take into the costs of making transactions overseas if your proposed form of global currency exists in a physical form only, it's not much better than having to exchange between different currencies right now.

Your concern about the ease of which the currency may be shut down/targeted also doesn't make sense. Shutting down the internet is a much more difficult task than what you would imagine, and if the currency is decentralised like bitcoin, even more so. It might actually be easier to overthrow a global currency that is issued in physical form by a single entity.

More or so it was a metaphor  the thing is more than 80% of the humanity lives in less than 10$ a day , and I don't think internet is accessible for them.

That section is comprising 80% and we cannot target a global currency for just 20% for them internet might as well doesn't exist.

Clean food and roof over their head is more important.
I understand that the internet is decentralized but what if a country is in a war ??
That would be easy to break all the ties with the world .
And then there are countries like North Korea more or so .
It's weird to think that the currency can be internet based.

[fiulpro]

Nobody can shut down the internet,because internet is a network of servers.Can you shut down all of them?
That's why nobody can shut down the blockchain.As long as there are miners,the blockchain will continue to exist.By the way,bitcoin can be printed on paper.Nobody is saying that bitcoin will be 100% digital.
We already have a global currency.It's called US dollar and it's a pretty shitty global currency.

You can shut it down in parts of the world, or even in a country. The internet is centralized at the moment, this is the problem. And something some people are trying to fix. If you decentralize internet, like Bitcoin with nodes distributed all over the world, then sure,,, you improve chances of servers always able to send and receive information requests.

Bitcoin is digital make it on paper does not make it physical,,, or does it? I am confused.

We cannot for sure make Bitcoins on paper because then we will have to either convert it whole as a paper and that won't be good , the Bitcoin is not just Bitcoin , it's a trading outlet and making it on paper will kill the global trade it have.

Maybe we can in the future see someone willing to convert their whole wallet in paper 🤣 that will be funny enough, there won't be any trading trust me the only reason it's successful is because we are connected to the world, I am sitting in one part and talking all the way down till the poles , we cannot just roam around street to street with our paper Bitcoin asking people * hey am gonna sell it this week, are you willing to buy , lemme check the price online *

It will be so funny 😂 and thus I guess impossible
And I agree with shutting down the internet part yes it's bit of a trick but it's not impossible to be honest 🙌😁

[Barbut]

Nobody can shut down the internet,because internet is a network of servers.Can you shut down all of them?
That's why nobody can shut down the blockchain.As long as there are miners,the blockchain will continue to exist.By the way,bitcoin can be printed on paper.Nobody is saying that bitcoin will be 100% digital.
We already have a global currency.It's called US dollar and it's a pretty shitty global currency.

You can shut it down in parts of the world, or even in a country. The internet is centralized at the moment, this is the problem. And something some people are trying to fix. If you decentralize internet, like Bitcoin with nodes distributed all over the world, then sure,,, you improve chances of servers always able to send and receive information requests.

Bitcoin is digital make it on paper does not make it physical,,, or does it? I am confused.

We cannot for sure make Bitcoins on paper because then we will have to either convert it whole as a paper and that won't be good , the Bitcoin is not just Bitcoin , it's a trading outlet and making it on paper will kill the global trade it have.

Maybe we can in the future see someone willing to convert their whole wallet in paper 🤣 that will be funny enough, there won't be any trading trust me the only reason it's successful is because we are connected to the world, I am sitting in one part and talking all the way down till the poles , we cannot just roam around street to street with our paper Bitcoin asking people * hey am gonna sell it this week, are you willing to buy , lemme check the price online *

It will be so funny 😂 and thus I guess impossible
And I agree with shutting down the internet part yes it's bit of a trick but it's not impossible to be honest 🙌😁

Why would we go in that direction?! Let`s start to be honest to each other, let`s make better communication between people, let`s help everyone who needs some help. Can we live in peaceful world? Where nobody will shut down each others, where you will be able to travel without problems will someone kidnap you or take your body parts. Can we live in the world without wars?
When people of the world become united we will see better days, for that we need better communication, we need to be more connected, who else can help us with that than internet and blockchain?

[befriendmywater]

Hey guys what do you think ?

Will we have a global currency?

I personally think that the idea of global currency will benefit citizens, there won't be exchange tax and other things , but at the same time it will kill the competency of the countries that the political leaders think is important , there will be no more best to worst currencies , no exchange rates and nothing.
Will it be beneficial?

I think the benefits are more than compensating for the bad effects.

I think this wide variety of currencies  do have some advantages
If we will have a global currency will it be internet based?

I don't think it can be internet based because more or so there will always be a sector which doesn't plan on using the money and worse who doesn't know how to use the internet and how do you plan on giving this advantage to the tribal people ? It will be worse , it will be like , if someone wants to kill the economy of the world entirely they just need to shut down the internet and everything, every transaction will stop.

Please share your views ?

I don't think that's a good idea. The forex market is currently very large and it is joined by many people around the world.
Besides, having a common currency will not bring a positive effect. developed countries will no longer want to continue to grow because they will contribute to the whole other country even though they contribute little.
This is a pretty bad plan because it has no logical division.

[Zadicar]

If there would be a global currency it would be on the internet since we don't need people to cross some ocean just because they need money from the one who's controlling the currency. But of course, each of our countries doesn't like the idea of someone controlling the currency thus there's no need for a global currency that isn't internet based. But most country would agree with the idea of using both fiat and crypto at the same time to benefit most of us people around the world.

[LeGaulois]

A global currency can't be based on internet 100%, otherwise it's a currency that will never be mass adopted. Personaly I also don't want to be a 24/7 connected guys to have a payment mean. Without even considering the millions of people who don't have an internet access

It has nothing to do with taxes, fees or similar and you shouldn't care about. You're not living on collected taxes,fees, banks do but that's no more your and our business. If we won't have exchanges taxes, don't worry the governments will surely find a new tax to replace it.

[tadpole_bitfrog]

I think this is not reasonable. A common currency will not be able to assess the development of each country and it is difficult to manage GPD or something.
Because financial planners care a lot of data in each field quite well to make new policies to stabilize and develop the economy.
therefore, the common coin is still unreasonable at the moment.

[Beerwizzard]

I personally think that the idea of global currency will benefit citizens, there won't be exchange tax and other things , but at the same time it will kill the competency of the countries that the political leaders think is important , there will be no more best to worst currencies , no exchange rates and nothing.
Will it be beneficial?

Why it should happen like you say? It is not necessary that global currencies will eliminate taxes. Governments still will be able to get taxes from businesses and residents. The only thing that will be changed here is that those taxes will be payed in your new global currency.

[Lucius]

~snip~

In today's world global currency is a difficult or almost impossible-to-realize idea. Reason is simple, many countries want to retain their financial sovereignty / currency, which is quite understandable. UK is as a member of the European Union always rejected the euro, and big countries like China or Russia will never give up their national currencies.

Internet based global currency is something that can work, and we have it today in form of bitcoin. Problem is to get people out of old habits, from using fiat and banks, in fact from the robotization of a human society who believes politicians, media and governments more than in itself.

Some data show that 45% of the world's population does not have internet access, so for them this kind of currency would not mean anything.

[Xampeuu]

I personally think that the idea of global currency will benefit citizens, there won't be exchange tax and other things , but at the same time it will kill the competency of the countries that the political leaders think is important , there will be no more best to worst currencies , no exchange rates and nothing.
Will it be beneficial?

Why it should happen like you say? It is not necessary that global currencies will eliminate taxes. Governments still will be able to get taxes from businesses and residents. The only thing that will be changed here is that those taxes will be payed in your new global currency.

I think the government will continue to look for new sources of tax, to support their foreign exchange, so that every potential business will certainly be made a new law to regulate state tax revenues

[hulla]

Hey guys what do you think ?

Will we have a global currency?

I personally think that the idea of global currency will benefit citizens, there won't be exchange tax and other things , but at the same time it will kill the competency of the countries that the political leaders think is important , there will be no more best to worst currencies , no exchange rates and nothing.

To be honest with you, we already had a global currency buddy(Bitcoin) and if you did alot of research about Satoshi mail archives, white paper with research put together by Satoshi as said by Theymos you know that the purpose was to make Bitcoin a democracy global currency.

If we will have a global currency will it be internet based?

I don't think it can be internet based because more or so there will always be a sector which doesn't plan on using the money and worse who doesn't know how to use the internet and how do you plan on giving this advantage to the tribal people ? It will be worse , it will be like , if someone wants to kill the economy of the world entirely they just need to shut down the internet and everything, every transaction will stop.

Please share your views ?

Alrhough, we some part of the continent where internet is a big deal and we also some people which don't like internet of a thing but we are computer age where almost people daily activities can through the internet.
However, I don't think the entire world internet can be shut down and if this happen then it will be the worlds doomsday.

Will it be beneficial?

Yes, every man will be treated equally and will gain their personal freedom.

[TheCoinGrabber]

I think it's possible. However I think there will still be many other currencies floating around.

I envision it to look like the current crypto scene. There are multiple coins each produced in differing ways. Some might be government-backed but they'll be in the minority.

[wuvdoll]

Obviously, it cannot be 100% internet based but think about how much of the global worth economy is already "digital". I mean many people use either debit cards or credit cars or get loans to pay something and so forth so the amount of cash changing hands is getting less and less with time already.

Think of just early 2000's and how much people used cash to buy stuff and think of today, in just one or two decades people changed from cash to debit even for regular purchases let alone credit card. That is just normal life, think of all stocks and shares and Forex and derivatives or whatever its called and you got yourself a huge huge difference between money that is cash and money that is just on paper on someones screen. So, bitcoin do not have that challenge anymore not because it broke it but because it was already broken when it existed.