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

[GregH37]

Tough question, but how you going to give it to the bank and to the government, no many people accept internet money, it is very much fake, can you called the hell note as money too? They can be traded in the hell but in real life? How about in game money, play station credit, Nintendo store credit? Apps store credit? Apple Pay credit? Consumers are getting so confused with so many type of currency all over the internet, it’s making value pricing very difficult, if you going to sell an item, are you going to list 1000 type of currency price for that item? Too much workload.

Having different types of currency to handle all our economic request will really cause chaos which is already playing out in the cryptocurrency industry too, lots of projects are dyeing  just because if the too many currencies that we have in the market.

This is therefore the reason why we all need to embrace bitcoin as the recognized global currency that will override all other internet currencies in the world, which will be used by those who wishes to operate their businesses on internet while fiat works for businesses that are offline, this is why our dear satoshi created crypto as alternative and not replacement.

[prtty2gal2]

There's nothing like having a global currency, even the benefits you have mentioned here doesn't make any sense to me. It is best the way it is and there's no need for anything. I'm okay with cryptocurrency and it serves more as an investment and not really much a mode of transaction, and it is best this way not so many are into it. The reason why I said this is because if lots of people happens to get involved in cryptocurrency, then it is going to make the government to shut it down and they are tackle everyone and start tracing everything to your bank and to where the money is coming from.

[davinchi]

There's nothing like having a global currency, even the benefits you have mentioned here doesn't make any sense to me. It is best the way it is and there's no need for anything. I'm okay with cryptocurrency and it serves more as an investment and not really much a mode of transaction, and it is best this way not so many are into it. The reason why I said this is because if lots of people happens to get involved in cryptocurrency, then it is going to make the government to shut it down and they are tackle everyone and start tracing everything to your bank and to where the money is coming from.

It will be possible mate one day, and I will tell you why,  it’s not that there has not been attempt to create one, just that such suggestion is being suppressed underground by some powerful people who would not let that happen.

Before Gadhafi was killed, he clamored for a currency that will be used in Africa generally and that is why he tried creating United State of Africa which was duly suppressed and led to his death.

I am also very sorry that I am bringing religious into this section, I am a Christian and there is a part of the bible that already prophesied that in the last day before the world becomes doomed, there will arise a currency that will be used globally, and if God had already prophesied, no matter how hard it looks to us, it will come to past. 

[Kevin77]

Thinking internet as the problem is wrong in so many levels. Unfortunately there are still couple of tribes and places that lack internet connection but you do not need that to become a global power. Yeah dollars could reach as far as world goes but if you can manage to make bitcoin used and loved by everyone who has an internet connection, mobile phones with wifi and all that then you are already over 99% as it is. Why would something need to be %100 to be the real thing?

I am pretty sure there are some islands in some Australian parts of the world where not even money is fully used, people probably just live like a tribe and do everything and eat together and basically have no need for dollars, which means even dollar is not %100 fully and that is why you don't really need to be %100 to be global power.

[micalith]

Since the world consists of nation-states, each country has its own currency and countries like the USA and Germany will not be willing to use the common currency during the cold war in the 21st century. Even if the common currency is used, no economic problems in the world will be solved because of the income distribution problem among the countries.

[Irvinn]

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 ?

We already have world currencies for a long time. These are dollar, euro, Japanese yen, English pound and some others. Such currencies are used in international payments and for this they must enjoy the confidence of states. Cryptocurrency will not enjoy the confidence of states and, moreover, it has a high price volatility, and this makes calculations very difficult when implementing long-term contracts.

[fauzan Ichsan]

Since the world consists of nation-states, each country has its own currency and countries like the USA and Germany will not be willing to use the common currency during the cold war in the 21st century. Even if the common currency is used, no economic problems in the world will be solved because of the income distribution problem among the countries.

right, with shared currencies, of course, the countries that use it bear inflation together as well. so as if there were no economic problems in each country. and indeed, state wealth is different from the level of distribution

[Tylev]

Global currencies have been around for a long time. These are the currencies that are used in international payments. These include the dollar, euro, ruble, pound and others.
Governments will not massively use decentralized cryptocurrencies for international transactions due to its high price volatility. It is possible that they will use their own cryptocurrency for this, which will be more like stable coins.

[LeGaulois]

Look at what I said:

A global currency can't be based on internet 100%, otherwise it's a currency that will never be mass adopted.

There are hundreds of people who do not have access to the Internet, and not even electricity. So access to cryptos is not very favorable for them.
Similarly, there are hundreds of people who do not have access to a bank account, so the purchase of cryptos is quickly restricted.
That is why we often say that Bitcoin can become an alternative currency and not a replacement.

[ginobitcoiner]

bitcoin was created for that purpose, becoming a global currency in the whole world, that is very possible.
but nowadays it is not easy to realize it all with all the problems that are always associated with bitcoin making bitcoin disrupted to achieve its primary goals.

[Ryan Dugan]

bitcoin was created for that purpose, becoming a global currency in the whole world, that is very possible.
but nowadays it is not easy to realize it all with all the problems that are always associated with bitcoin making bitcoin disrupted to achieve its primary goals.

This is correct. Bitcoin is already a global currency since you can send and receive it from anywhere in the world s long as you have an internet connection available. It is not tied down to any country or people.
I know you mean glocal acceptance in the majority. I don't think crypto needs the majority of people to use it. Half is good enough. I do think that number will close though until almost everyone uses blockchain technology.

[automaticmoney]

As per Twitter Ceo statement he states Bitcoin should be global internet currency for future . looking at present adoption we can see bitcoin may see future adoption to masses

[whirlcoin]

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 ?

money is not everything that is the only reason it will not hundred percent internet basically because the money culture will be created in recent times only before that no one will know about how a current she is and this is also one of the reason why not been internet based.

[rosebrand]

the most difficult thing is to create a financial system that is structured as a whole in the internet zone, as long as there are no developments that are full adaptations, it will not be able to be reached easily in total.

But crypto has actually provided an answer so far even though it is not a massive move that is measured by the government's consolidation, because this will continue to evolve with the existing system even though it is still conflicting.

[Harlot]

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?

See this is why a global currency won't work because everything will be dependent on each country, if you think think that the world will be moving forward because we unite under one currency then think again, with this kind of system we are at the mercy of the top 1%. Inflations and other economical problems will still be there. And if you are thinking that BTC is by definition of a global currency that is why you made this thread then think again, the value of BTC is still valued under the fiat system that is why they are letting it co-exist in our world now.

[omonuyak]

the most difficult thing is to create a financial system that is structured as a whole in the internet zone, as long as there are no developments that are full adaptations, it will not be able to be reached easily in total.

But crypto has actually provided an answer so far even though it is not a massive move that is measured by the government's consolidation, because this will continue to evolve with the existing system even though it is still conflicting.

We cannot really judge now were bitcoin will be and what will happen as par it adoption in the world financial system. I think bitcoin should be able to be used as a "global currency" blockchain has proven to be a system that is safe and can be used in both security and speed and that is what I think can replace the current fiat system we have and it will create equality.

[jak3]

first of all, having a global currency is impossible because people have their personal needs and this takes it to very high and sensitive topics anyway. secondly, if we have virtual currencies as global currencies and no faint then it will cause a lot of problems as because we know that many altcoins die every day and many markets face more than 30% price fall so many people will get affected by the price. and I know there are a lot of benefits too but disadvantages are still more than benefits and some issues are very serious.

[FlightyPouch]

It is a great vision but I don't see it from happening. Pride, history, political reasons, there are a lot of reasons we can say that's why this will never happen. To be honest we can now call it our global currency since we can make transactions in any country that this is accepted without any exchange or third parties in that transaction.

[Gabteb]

In coming future, we will have a situation when you must use internet or have internet or you will not have anything or use anything so internet will be everywhere everywhere where people live so it can be internet based and must be i say.

[kodtycoon]

It is a great vision but I don't see it from happening. Pride, history, political reasons, there are a lot of reasons we can say that's why this will never happen. To be honest we can now call it our global currency since we can make transactions in any country that this is accepted without any exchange or third parties in that transaction.

it can be said that going to become a digital currency is becoming more popular, in the future it looks like internet usage will be the most important thing because by having an internet base every transaction can be completed quickly and of course it is a dream in a digital era like this