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

[Shenzou]

The world is constantly progressing and technologies and ways that we once never expected to work and people use are now essential part of our lives, like for example credit cards it was only something used by few people and businesses mans now it is in every person's wallet and they use it to buy everything, and today most people use the internet for basically everything they buy food cloths and even use transport through apps and digital money they no longer need to use physical money, i understand that in some areas  where internet does not exist this seems that is not going to happen for a while but with Elon musk and mark zuckerbrug sending satellite to provide internet all over the world this will change and everything will start moving towards digitization, just give it 10 more years and you will see.

[acroman08]

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 ?

Having one currency for all will certainly benefit developed and especially developing countries. But I doubt it will happen unless one country dominates every country and can impose laws and govern on every each of the country or become one. in the end what preventing this one global currency is politics and agendas of every existing government today.

[FanEagle]

There is no way we are not going to have one currency globally. I personally believe it may take years and it may take a lot of power and issues but in the end we all gonna end up with the same money all around the world and the big candidate is dollar or euro.

Look at euro for example, it is the same currency in many nations and all of them use the same currency without any problems at all, of course there are economic issues risen from the same currency thing but I am sure that is worth the loss in its profits. If 20+ nations could use the same currency and switch borders without care and basically live like a whole nation together then why not make it for the whole world ?

Maybe we can do 5 currencies total instead of just one to start with and see how it goes but currency for each nation is silly and will be done very soon.

[imstillthebest]

but why not ? bitcoin is one example of a global currency because its online and all people all over the universe can use it without restriction ( because again its online ) if you country restricts you from accesing bitcoin/crypto sites you can still use vpn and other internet tools to bypass the restriction  .

cryptos and other online payment methods are more suitable as a global currency compare to non internet based currencies because you cant obtain them easily and not all merchants or people will recognize it  .

[BitHodler]

Look at euro for example, it is the same currency in many nations and all of them use the same currency without any problems at all, of course there are economic issues risen from the same currency thing but I am sure that is worth the loss in its profits. If 20+ nations could use the same currency and switch borders without care and basically live like a whole nation together then why not make it for the whole world ?

It's only a matter of time before the Euro fails. You're basically asking for problems if you use one currency in a continent that consists of very economically weak to strong countries.

Just look at what happened in Greece years ago. Currently we're not far away from seeing Italy follow the same path of destruction. If you think Greece was bad, then prepare yourself for what will happen to Europe when Italy implodes.

Direct result is that the weakest banks in Europe with significant exposure to debt in Italy will be triggered to implode too. Deutsche bank is an example of that and it has already a lot of problems without Italy threatening its existence.

[wahyu wida]

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 ?

Having one currency for all will certainly benefit developed and especially developing countries. But I doubt it will happen unless one country dominates every country and can impose laws and govern on every each of the country or become one. in the end what preventing this one global currency is politics and agendas of every existing government today.

if developed countries hold a very large volume compared to other countries, it will certainly be an opportunity to regulate market movements. and I think the government must find a policy for the monopoly

[ufaiz50]

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 am thinking of you, where I feel that to make a 100% internet based currency here still has a big negative side, unless we really are in the world where 90% must adapt to advanced technology, which we inevitably must follow the development of these technologies. For global currencies, I don't think well, if you say bitcoin is also a global currency because of its users in various countries and not limited by government control.

[Tylev]

First, a decentralized cryptocurrency is unlikely to ever be used by all states as a single global currency. States can not rely on a "no-man" currency, which, moreover, is not secured by anything and is subject to high price volatility. Secondly, the global currency is also unlikely to "work" on the Internet. The financial world will then be very fragile. Any catastrophe that will even lead to the temporary disappearance of the Internet, then hello to a complete financial collapse. I do not think that states will not take this into account before risking their economies and switching to settlements in such currencies. The financial world just likes stability.

[barbara44]

We do not need a global currency we just need a digital currency, right now we have a global currency that is %100 internet based, its bitcoin (well others too). I mean what do you mean by a global currency, the fact that governments should accept it? Well governments don't have to accept it, can I go work in Europe and earn some euro? Yeah sure I can, can I then buy bitcoins with it? Yes I can, then can I go to ANY country in the world and cash out my bitcoins? Yes I can.

This is the real proof that I can spend my euro that I earned from working in Europe in anywhere in the world, hell I don't have to go there personally, most things are sold with bitcoin now so I can just order something from anywhere in the world as well. As you can see we already have a global currency and its totally 100000% internet based.

[bitgolden]

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

That sounds good to the ear to know that twitter is also a believer of cryptocurrency, I see that virtually all social media is beginning to see how beneficial the adoption of cryptocurrency will be too them too, and I think the only one that is left among them yet to fully accept cryptocurrency is Google cooperation and I believe that we need them so much in spreading the awareness if Bitcoin is to become a global currency.

The technology of crypto is pure going to be an internet based one, if we consider those who are still yet to be in the loop for technology, they might continue with fiat, while for digital payment using crypto is best over the internet.

[Wellyan]

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.

As time and technology develops, everything will be based on the internet and to fulfill it all, maybe that's the reason why crypto currencies are created to keep up with the times and technology with the economy

[Oceat]

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.

As time and technology develops, everything will be based on the internet and to fulfill it all, maybe that's the reason why crypto currencies are created to keep up with the times and technology with the economy

As for now, we can consider Bitcoin as our only global currency so far because there are lots of factors that a global currency will not going to happen. If the world wants a global currency i think it's Bitcoin since no one is controlling on it but the problem is that it is not stable and is subject to high price volatility. I don't think any country would accept that if there are whales lurking everywhere.

[FlightyPouch]

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.

Not all of the country can support that way of living. We all know that the future is leading there but not all can do that. I mean there are a lot of third world countries that will be left out. It is true that they can just do things to catch up like making a lot of wifi hotspots or making cheap devices but I don't think they will prioritize that since they can still do things the usual way.

[SvonioneFromMangoCoinz]

I agree with you. I acknowledge that the development and benefits of the Internet are great in the present era. It is very helpful in handling tasks that become faster and many other services become better.
But to have a common currency and need internet for payment would be a big problem.
not to mention people in the mountains and old people who don't know about technology and the internet.
It's not really the best solution, I think our world should still have fiat money and electronic money.

[guoyu78]

We do not need a global currency we just need a digital currency, right now we have a global currency that is %100 internet based, its bitcoin (well others too). I mean what do you mean by a global currency, the fact that governments should accept it? Well governments don't have to accept it, can I go work in Europe and earn some euro? Yeah sure I can, can I then buy bitcoins with it? Yes I can, then can I go to ANY country in the world and cash out my bitcoins? Yes I can.

This is the real proof that I can spend my euro that I earned from working in Europe in anywhere in the world, hell I don't have to go there personally, most things are sold with bitcoin now so I can just order something from anywhere in the world as well. As you can see we already have a global currency and its totally 100000% internet based.

In nature and in function, Bitcoin appears to really be worthy to be called global currency but cannot carry that title until it is uniformly agreed upon by majority of world government for it to be used as global currency and there are some things that will be put into consideration before it can be legalized as global currency, we will get to that point but I doubt if they are willing to do that now because of its decentralized system, and the digital currency you talked about is already in Bitcoin too, and I think what we just need right now is to push for awareness for Bitcoin to take it’s full position as digital payment.

[Rooster101]

Dollar can be considered as a global currency used many countries in their global trades but if you talking about global currency that is used by all nations as their de facto currency, I think it won't happen. Countries had their own national currencies that often symbolizes their national identity as a nation. Rather than digital fiat as global currency, I preferred bitcoin as an internet-based global currency because it is a decentralized one and can't be controlled by governments and central banks.

[BennyK]

Definitely, there will be a time when the world will spend one common currency although there individual country currencies. Having a total or 100% internet based currency will be a problem for now because there are still some areas or countries in the world which do not have internet connections or other computers to access the internet especially in some remote areas in Africa. The people in some of these areas cannot read and write hence cannot access the computer neither the internet even if they were to be available.

[ElevenX]

I don't think an internet based coin is something that will completely take over. The majority of the world only knows cash, and with that cash they have credit cards. And in knowing cash, they're not going to want to give up having some in their pockets, and buying little things here and there. Give a neighborhood kid a dollar. And hundreds of little things that they can do with cash.

[sana54210]

I agree with you. I acknowledge that the development and benefits of the Internet are great in the present era. It is very helpful in handling tasks that become faster and many other services become better.
But to have a common currency and need internet for payment would be a big problem.
not to mention people in the mountains and old people who don't know about technology and the internet.
It's not really the best solution, I think our world should still have fiat money and electronic money.

Generally, those old people and the ones on the mountain will someday face out completely as the world continue to grow deep in technology, let’s take a look at the gsm, prior to when gsm was invented, if anyone had told people in existence then that GSM will go this far to the extent of being used by those old people you talked about, they will absolutely doubt it, but as people gets exposed to it day after day, it became widely spread till it became a part of the world fully, so as Bitcoin may be too in the long run even if it is not our generation, but global coin era can really be achieved. It may not just be in our time, or even in the time of our children.

[TurboRyzen]

There will never be one global currency in the world. That involves the elite of each country giving up power. The name of the game is power. Do you think they're going to be, "Oh it's a good idea because then there will be no exchange fees."

Plus wouldn't countries that are doing bad weaken the value for countries that are doing good?