The One World Currency: Is it Bitcoin?

[Kittygalore]

One world currency sounds good and it's happening as the marketcap keeps growing. It's also a digital gold that could surpass the marketcap of gold in the future. Currently we are still at number 8, but we know how fast bitcoin could pump since its our currency, so maybe soon we will be in the top 3 before we get to the top 1. That has been my dream and I think it will come into reality in the future.

Can it sustain the growing population though, I mean there isn't bitcoin for everyone in the world to go around, not to mention that there are a lot of lost coins, I like the idea of one currency for the whole world, the only problem is scaling and every government agreeing on one currency.

[crwth]

Into becoming the one world currency, that's what I do not know. I believe that Bitcoin will become the best-stored value asset that anybody could have and that anybody in the world could buy as long as they know how to. Isn't that what makes the "One World Currency"? If anyone and everyone are willing to accept that particular asset. Just like the USD right now.

[ene1980]

Can it sustain the growing population though, I mean there isn't bitcoin for everyone in the world to go around, not to mention that there are a lot of lost coins, I like the idea of one currency for the whole world, the only problem is scaling and every government agreeing on one currency.

The idea of everyone holding a full bitcoin is bullshit, there is a reason for Satoshi keeping a limit for the amount of coins in circulation and it means that you can have any sub division of a bitcoin. There are lot of lost coins and then there are a million coins supposedly owned by Satoshi which is not in circulation and the number of coins lost to scammers and some of them are still idle, bitcoin is the universal coin and you do not need a government to agree on anything, all you need to do is to start using it for global transaction.

[ivankoh]

My opinion is that bitcoin cannot become the "currency of the world", it is clear that the supply in nature of bitcoin will not be able to meet the needs of daily existence, in life, economics as  a regular (fiat) currency.  The currency of a world has very strict equilibrium requirements and regulations, in which bitcoin is highly volatile.  Bitcoin will now become a unique intellectual property and the net value it will acquire based on the transformative trend of a new economy.

[Fesatmas]

It seems true that what is meant by the currency of one world is bitcoin. Because bitcoin can be used by anyone and from any circle. chances are if fiat continues to experience inflation, then the only way to replace fiat is bitcoin which will not experience inflation. besides, bitcoin is decentralized and fairly distributed. So, I think the one world currency that we will use in the future is bitcoin.

I also agree that in the future bitcoin is the only world currency that will become a means of transaction. but can it happen if other countries do not have control over bitcoin. bitcoin is decentralized and not centralized, that's a fact. and somehow the world will use digital money in the future with the symbol of the currency of their respective countries which evolves into digital money.

[adzino]

One world currency sounds good and it's happening as the marketcap keeps growing. It's also a digital gold that could surpass the marketcap of gold in the future. Currently we are still at number 8, but we know how fast bitcoin could pump since its our currency, so maybe soon we will be in the top 3 before we get to the top 1. That has been my dream and I think it will come into reality in the future.

You think having a high marketcap is going to make bitcoin "The One World Currency"? Nope. Market cap means nothing. Look at what happens when the network gets heavily loaded. Slow network confirmation. Crazy fees. Now imagine, when the whole world starts using it. Network is going to get insanely overloaded and be prepared to pay hundreds of dollars as a fee for quick confirmation. Bitcoin isn't ready to be the one world currency. There are flaws in it. It is best suited to be used as a store of value.

[imstillthebest]

currently i think it was the us dollar is the one world currency because almost all the country are familiar to its value and they often use a usd as thier secondary currency for conversion .
 but in the future btc has a chance to steal it to usd .
 every country will easily accept it because no one owns btc not unlike to usd that owned by usa and they will think that  united states are only going to get all the benefits .

[teosanru]

It is said that Bitcoin is the precursor of the "One World Currency" that will be used in a "One World Government". In the past, it has been predicted that a "One World Currency" would come into fruition as the current monetary system collapses in its entirety. It is today where we have Bitcoin, a Peer-to-Peer digital cash system that's decentralized, used globally by many people worldwide. Essentially, Bitcoin is a "One World Currency" although not backed by any government or trusted entity of any kind.

What do you think? Is Bitcoin the "One World Currency"? Or will another currency take its place in the future? If that happens, which currency do you think will become the "One World Currency"? Will it be the US Dollar, the Euro, or the Chinese Yuan? Do you think governments will unanimously agree to use a single currency for everything? Your input will be greatly appreciated. Thanks

I don't think it's possible to have one world currency. Atleast until every country in the world has equal economic parity. Without government run economy would make it almost impossible to develop public infrastructure and basic necessities required for anyone. Moreover labour exploitation would reach the biggest heights as someone in Africa would work for peanuts for anyone in the USA. Not talking about the fees problem as there can be some other replacement or alt which can serve the purpose. This thing looks pretty difficult.

[RealMalatesta]

I think that OP is talking about the ifs of the situation. Yes there are countries that will not recognize bitcoin as a global currency but we are dealing with the hypothetical situation here. I would say that bitcoin could become the worlds.currency but the problem is that  I don't think that there is enough bitcoin to circulate around the world's economy.

I was considering more like "people would use it as global currency" and not really any nations specifically. As long as nations do not ban it, that means we can use bitcoin anyway we like and that means we could make it a global currency ourselves.

I am not expecting USA government to come up and say that bitcoin is their favorite foreign currency or something, or maybe start using it for themselves or anything, something like that will probably will never happen or EUROPE decides to give up all of their euro and decided that from now on their one currency in all of Europe is bitcoin. That wasn't really what I assumed, what I assumed is that most nations will accept bitcoin as legal tender so after that we are going to end up using bitcoin to pay each other all over the world without putting government into our wallets which would be quite good.

[jaysabi]

I don't know where you got this idea from that there will be a "One World Govt"...

This is a conspiracy theory of the deranged and the bible thumpers (ha, same thing). It's not a new theory. Anyone spouting it is instantly outed as someone who doesn't live in the reality and discredited as an independent thinker. I'm sure there is remarkable overlap in the venn diagram of "one world governmenters" and people who believe George Soros secretly controls the world.

[fiulpro]

It is said that Bitcoin is the precursor of the "One World Currency" that will be used in a "One World Government". In the past, it has been predicted that a "One World Currency" would come into fruition as the current monetary system collapses in its entirety. It is today where we have Bitcoin, a Peer-to-Peer digital cash system that's decentralized, used globally by many people worldwide. Essentially, Bitcoin is a "One World Currency" although not backed by any government or trusted entity of any kind.

What do you think? Is Bitcoin the "One World Currency"? Or will another currency take its place in the future? If that happens, which currency do you think will become the "One World Currency"? Will it be the US Dollar, the Euro, or the Chinese Yuan? Do you think governments will unanimously agree to use a single currency for everything? Your input will be greatly appreciated. Thanks

Right now I do not think that we will be even close to achieving a one world currency. Since there are disputes everywhere, economic instability, situation of pandemic is worsening what can one expect? There would still be countries like North Korea who would run the farthest when things like that would happen.

Even if we think about Bitcoins, there are countries like China who wants to take over the mining power and attack BTC. How can these countries support it ?
 
At the same time I do think that there will always be a resistance from countries like India who think that BTC is nothing but a fraud and people are still fighting over this since ages.

These few counties were just on the top of my head and there are indeed numerous like these. I do think that we might achieve something like that in the future for sure but that also 30-40 years afterwards. Right now it would be more useful if countries can stabilize their own economy first.

[qwertyup23]

What do you think? Is Bitcoin the "One World Currency"? Or will another currency take its place in the future? If that happens, which currency do you think will become the "One World Currency"? Will it be the US Dollar, the Euro, or the Chinese Yuan? Do you think governments will unanimously agree to use a single currency for everything? Your input will be greatly appreciated. Thanks

I do believe that it definitely has the chance especially given its technology where it puts the people free from any control from any third-party consensus.

I remember, I previously mentioned that if bitcoin will not be the 'main' currency in the future, I am confident that such currency would definitely be similar to bitcoin that also uses the blockchain technology. The blockchain technology cannot be simply be brushed away as its innovation and complexity introduced a modern way of transactions.

[CarnagexD]

It could very well be a precursor to a one world currency, but the token that would succeed bitcoin cannot be centralized, otherwise people aren't going to dive in it. This goes without saying, that a decentralized currency like bitcoin can't be used by any one world government that may rise up in the future, and they may need to employ a new currency to facilitate their newly formed economy.

[AndySt]

I don't think it's possible to have one world currency. Atleast until every country in the world has equal economic parity. Without government run economy would make it almost impossible to develop public infrastructure and basic necessities required for anyone. Moreover labour exploitation would reach the biggest heights as someone in Africa would work for peanuts for anyone in the USA. Not talking about the fees problem as there can be some other replacement or alt which can serve the purpose. This thing looks pretty difficult.

It's not just about equal economic parity, it's just that the economic system of any state is not adapted to the use of any world currency. Any state conducts its own monetary policy and the issue of its own national currency is a good help in this matter, and no truly sovereign state will refuse such an instrument, because the one who controls the currency controls the situation in the country.

[ultrloa]

If we not talk about laws and use our own perspectives we can say that this is happening already since we are already dealing with bitcoins every now an then and we have different nationality so if government will allow this well the adjustment period to us will not take long and all of us will get benefited on it if this one will happen.

[verita1]

Bitcoin is going through a transformation process, it is becoming a trusted digital asset to protect currencies from inflation, including the main world currencies such as the US Dollar, the Euro and the Chinese Yuan and is even displacing the Gold.
Only time and circumstances will place bitcoin as "One World Currency". For now bitcoin is heading down the path to where technology has developed. We are precisely in the awakening of a new technology that will unite the world.

[Koro-Sensei]

Absolutely. Bitcoin's trust throughout the years is growing exponentially. As long as more and more institutions adopt to this technology, it is no doubt that this cryptocurrency would overcome the struggles of disjointed humankind.

[paxmao]

I agree with many of the posters here - bitcoin is not really a global currency and it is not really liquid and cheap enough to transfer to make it so. However, it could potentially become the world currency for medium to large transactions as the fee in those cases is less relevant.

What is sure is that it is becoming some short of an insurance in case the fiscal policies or economies of certain countries are irresponsibly managed. The rulers and lawmakers should be fully aware that their population may choose the bitcoin alternative if they go wild in the monetary policies. Venezuela, Iran, Turkey, Nigeria, Myanmar, ... there are clear examples, this is not just theory.

[Rehan Zakir]

In future, Bitcoin currency can be used worldwide. Because their is no centralized authority that is controlling the Bitcoin. And Bitcoin is not a native currency of any country. This is a currency that is used globally. No one country or a government controls it. You are giving a right name The one world currency.

[iamsheikhadil]

I think it's very wrong to assume the whole current world economy will shatter which is standing for hundred of years now in traditional form. Bitcoin as a worldwide currency sounds tempting, but it's too volatile, and majority of the world doesn't even know how to use it etc, that's a big problem if we dream of having it as one common currency in the globe. We are moving towards globalism, and a part of me thinks that there will be no "government" per se which will be ruling the whole world, rather a capitalist environment will rise its head.