The One World Currency: Is it Bitcoin?

[amishmanish]

I don't know where you got this idea from that there will be a "One World Govt" and Bitcoin will be the "One world currency". Those are fantastical ideas which should never really materialize.

It's not recent news. The Pope has been calling for a One-World-Gov for a while now. The UN is smoothly moving that direction too.

They want one, and it's not something they're hiding or something we're just guessing.

C'mon man. I respect your opinions Kevin but taking the declaration of UN SDG's as some sinister idea for a One world government is stretching it a bit too far.

The UN has been doing this for a long time now. They support the flow of information, human expertise and capital resources to developing and under-developed countries from the developed world. Sure, they could do a much better job, but couldn't we all? The polity continues to evolve and regional unions like the EU were an evolution from Empires==>Nation states==>Democracies. The experiment failed spectacularly. With decentralization gaining prominence, we may well be moving towards a better alternative far removed from a one world govt.

[jaysabi]

I don't know where you got this idea from that there will be a "One World Govt" and Bitcoin will be the "One world currency". Those are fantastical ideas which should never really materialize.

It's not recent news. The Pope has been calling for a One-World-Gov for a while now. The UN is smoothly moving that direction too.

They want one, and it's not something they're hiding or something we're just guessing.

C'mon man. I respect your opinions Kevin but taking the declaration of UN SDG's as some sinister idea for a One world government is stretching it a bit too far.

The UN has been doing this for a long time now. They support the flow of information, human expertise and capital resources to developing and under-developed countries from the developed world. Sure, they could do a much better job, but couldn't we all? The polity continues to evolve and regional unions like the EU were an evolution from Empires==>Nation states==>Democracies. The experiment failed spectacularly. With decentralization gaining prominence, we may well be moving towards a better alternative far removed from a one world govt.

Consider the sources he posted. An opinion article from 9 years ago about how the Vatican wants a world government (which as far as institutions go, the Vatican is on the low end of what you would consider influential) and also as an opinion piece is prone to exaggeration and misinterpretation, and a second article that in no way supports the premise that the UN wants a one-world government. Further, believing that nations are going to surrender their sovereignty to a world-government is beyond ridiculous.

[michellee]

Yes, that is right. I do not think that we will have one world currency for all countries because we live in different countries with a big difference from the other country.

I only imagine if we have the same equality in the future for all countries, maybe the word "one world currency" can be used, and we only have one leader that will lead the world into a better place. But until that time, we will not see one world currency because all of the leaders for all countries want to become the number one.

You see, Korea, the USA, China, and other big countries want to conquer the country by giving all of the facilities in the developing country to control them easily. And if they can get that country, they will use the rule to lead them and move to the next target.

[goldade]

What do you think a one world currency would be? It would be a currency that can be used anywhere in the world irrespective of country or continent. One would have thought that should be the  US dollar but you'd still need to change your dollars into a country's currency if you'd use your money in that country.
Bitcoin, however, satisfies the demand of a one world currency in that it can be used in any country on any country and what makes it even better is the fact that it is decentralized and not controlled by any government of the world.
So in my opinion, I think bitcoin is doing pretty well in becoming the one world currency.

[pankowri]

No other option except Bitcoin. Bitcoin only the online currency that can achieve people's faith, make its position permanent, widely accepted etc. So Bitcoin is the number one cryptocurrency.

[blckhawk]

What do you think? Is Bitcoin the "One World Currency"?

No, I don't think Bitcoin will be the One World Currency because let's assume there will be one government throughout the world, would they choose a currency where they have no complete control over it? I don't think so, it would be much better if they will create their own.

Or will another currency take its place in the future?

No one exactly knows what will happen in the future if Bitcoin will be dethroned by another kind of currency or something.

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?

One thing is for sure, definitely not Bitcoin as it is decentralized and they have no complete control over it.

Do you think governments will unanimously agree to use a single currency for everything? Your input will be greatly appreciated. Thanks

Perhaps the most powerful countries will agree of having a single currency but I don't think other countries will agree with it.

[Ibrahim60]

Bitcoin is one of the most potential Crypto currency in the world. This coin popularity increasing day by day. Now a days most of the conscious people want to invest in Bitcoin. They choose bitcoin than fiat. But i don't think that bitcoin will be the world currency. Because of its decentralization. No government can control it. Also no one can trace its transaction. So this is very difficult for Bitcoin to be the world currency.

[slapper]

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

Absolutely.
The fact that we can choose between Fiat and Bitcoin is only a historical accident: Fiat and Cryptocurrencies, namely Bitcoin, aren't meant to cohexist.
Soon one or the other will disappear, and if you are reading this there is a decent chance you'll be able to pick the right one.

The disappearance is feasible, but I do not think it will be "soon". Even though bitcoin is good, you can not disprove that the monetary system is doing quite well in managing the world. Moreover, there are people who do not want to understand the technology and as the result, they are not able to interact with cryptocurrency

In my country, The fiat system has developed quite well with a lot of implementation and applications. I know that blockchain is capable of doing the same things but the current infrastructure of fiat is amazing. I can mostly buy anything with one click. And people here are still happy to receive cash rather than bitcoin.

[oHnK]

And people here are still happy to receive cash rather than bitcoin.

I'm not, I'd rather be paid in BTC than in fiat.  Because even if I receive fiat I will convert it to BTC.  The Fiat I receive will not increase and will be eroded by inflation.  Meanwhile, if it is given in the form of BTC, its value will continue to increase because its very valuable value is getting here.  I feel like you were quick to sum up everyone here.  It is true, between Fiat and Crypto one day there will definitely be sacrifices.  Because that is the law of the pyramid triangle of necessity, the more it is needed, the less needed it will be.

[nak02]

Sounds fun to hear that " One World Currency" is Bitcoin but I must say that it's only be in crypto industries, many people and countries don't know about bitcoins and cryptocurrencies (as of now) later in future it will be called if fiat will be replace or bitcoins will be spread all over the world.

[darewaller]

Bitcoin is one of the most potential Crypto currency in the world. This coin popularity increasing day by day. Now a days most of the conscious people want to invest in Bitcoin. They choose bitcoin than fiat. But i don't think that bitcoin will be the world currency. Because of its decentralization. No government can control it. Also no one can trace its transaction. So this is very difficult for Bitcoin to be the world currency.

You can trace the transactions, most of the time at least. How? As long as that money came from fiat or goes to fiat, unless there was a mixer used along the way it will be easily done.

When you use your fiat money to buy bitcoin (some people do not buy it, they earn it so maybe they can't follow from here) that means we are talking about an exchange that probably asked your KYC, that means that exchange knows your address and where you withdrew it, and if you send it somewhere else they will see that too, and if you spread it to 100+ different addresses they will see that too, basically it could be traced from that KYC linked account to any address you sent. When you are taking it out and making it fiat, if you used an exchange (some people do p2p or spend it simply) that means you could be also followed "where did this money came from" as well, with the same method.

[Oceat]

Sounds fun to hear that " One World Currency" is Bitcoin but I must say that it's only be in crypto industries, many people and countries don't know about bitcoins and cryptocurrencies (as of now) later in future it will be called if fiat will be replace or bitcoins will be spread all over the world.

I wonder if all other countries would agree with that name as "One World Currency" because as far as I know, not every country liked Bitcoin and some did try to make their own cryptocurrency to fight against the Bitcoin adoption or they just don't really trust Bitcoin that's why they were planning to make their own cryptocurrency.

Bitcoin has a long way to go before other countries consider it as the world currency and so far this is the only decentralized crypto currency that has lots of adoption since the day Satoshi release it to the public.

[Streets 2.0]

Friends, a great headline and a question - but do you really believe that the masters of world finance will so easily hand over their CENTRALIZED system to all of us? I'm sure not, because they ruled the world, changed governments, changed the architecture and the map of the world for a long time - and now everything will change so quickly, and even without a fight? Not. I think it will be a long process and with great resistance from large financial centers. And our blockchain will still face negative and will survive more than one crisis. Do you think in vain they are entering cryptocurrency assets with billions of dollars and euros? sure to try and rock the market in your favor someday. I may be wrong - but I think so so far.

[Imran232]

I do not think so bitcoin could be the one world currency. There has two reason 1 is country could lose their identity if they don't have there own currency. 2nd one is econimical problem for government and business too. Because companies collects capital via stock market. If people only invest in bitcoin then stock market will be finished that means countries economical balance also finished. That's why it can't be one world currency because every country should have its own currency. But there is a chance that bitcoin couldbe a Second currency like a mobile payment or a bank. Bitcoin could be same for world or some kind of investment platform. Its my opinion others could be different. Thank you

[teosanru]

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.

Actually, there won't be any such policies if we are thinking of a p2p economy as OP is expecting. If you don't control the flow of money as a government/authority then there is no point making any policies. Policies are made to control the money and channelize it. Moreover, the world would become static for third-world countries. How would they grow? All they would be left with is cheap labour from Big countries as even when they have money they would eventually pay tax to the global system who would utilize it for benefit of everyone equally. It makes no sense to have such a system. And yes you are right on point that who controls the currency controls the country.

[TheUltraElite]

Sounds fun to hear that " One World Currency" is Bitcoin but I must say that it's only be in crypto industries, many people and countries don't know about bitcoins and cryptocurrencies (as of now) later in future it will be called if fiat will be replace or bitcoins will be spread all over the world.

Gold is already a one-world currency and so are other precious metals. They can be bought and sold in every country if you bring them from another country, after some cumbersome paperwork.

Now bitcoin has been used by different country users so in a way it is also a currency for the people who used it not just the world. Again the reason why different countries have different currencies is based on their economic standpoint and that is something that is a huge thing to take over with one currency. So I dont think that is happening anytime soon. Yes people there might use bitcoin but that is not the majority, fiat is and will be here for quite some time.

Thing might change if we see governments allowing crypto trade openly in exchanges of that country, as we know in many places it is not that open to all.

[Ucy]

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

That could happen under a global dictatorship, but there will still be one or few Nations/communities that can't be stopped from being independent of the global dictatorship.
By the way, a global dictatorship will prefer a fiat-like currency with little to no decentralization, transparency, immutablity, censorship resistant, privacy etc

[Abiky]

"One World Currency" sounds a lot like some sort of conspiracy theory or doomsday scenario. I believe that there will never be such thing as single global government and single global currency, at least not in the next 1000 years.

Bitcoin being global by nature does not automatically make it the future single world currency, a lot of things need to happen for that - the collapse of major governments, full solution to Bitcoin's scalability, lack of competition from centralized systems like Visa that can just issue their own currency in such scenario.

Good point. Banks need to collapse first, before Bitcoin will be able to take over the world. Imagine if governments embrace Bitcoin in its entirety. If they start buying Bitcoins in mass across exchanges, they will be able to control most of its supply. Bitcoin will lose its decentralized model, becoming the next centralized banking system for mainstream governments. Only then, Bitcoin will become the "One World Currency" used as legal tender across every country worldwide. It sounds crazy, but we cannot discard the possibility of this becoming a reality sometime in the future. A one world government backed by a one world currency could restore order to our society as we speak. While I admit that Bitcoin is not scalable enough for widespread use, things could change in the future. With the Lightning Network and several other network upgrades aimed to tackle this problem, anything's possible.

Nonetheless, I wouldn't worry about a "One World Currency" at least in decades from now. There's a lot of work to be done as Bitcoin is still in its infancy. Even government-backed digital currencies are in their early stages of development (like China's Digital Yuan). Whenever or not Bitcoin becomes the "One World Currency" it's yet to be seen. Who knows what will happen in the future in the highly-unpredictable world of crypto? Just my opinion

[dezoel]

Bitcoin is the same thing as gold, gold is like a one world currency, but the only difference is that gold is a tangible asset and moreover it can’t be carried around if you don’t have the license to do that, and that’s because the government wants to control it, but you can still buy it and own it as an investment and I can remember there was time you can send gold using BitGold.

As for Bitcoin, it is successful because it decentralized and is a digital money that anyone can easily have access to it, but the same way with gold, in some countries if you’re caught with Bitcoin you will be punished. So talking about one world currency, these things might seem like it, but they are nothing, as long as we have dollars, euros and the rest of them.

Moreover the one world government stuff is something that I don’t believe is going to happen anytime, and I can’t even imagine how it’s going to happen; assuming there was such, which country’s government do you think will be allowed to rule? Do you think the Chinese will agree to be ruled by another power? And do you also think that the US would agree to be ruled by another? Same thing with the others. This one world government thing is something that came about with the antichrist talks. Even if it’s going to happen, I don’t think it’s happening now, and believe you wouldn’t like to be here when it does.

[Hydrogen]

1.  If monopolies are bad.

2.  Why should anyone want a one world centralized currency monopoly.

3.  Why should anyone want a one world centralized government monopoly.

It is trendy to support one world currencies and governments thanks to fictional universes like star trek and star wars depicting utopian futures ruled by centralized authority. But how much evidence for centralized monopolies being positive things exist outside of fiction?

I don't understand why people hop on a media bandwagon that says google, amazon and facebook are evil monopolies that must be punished. While simultaneously supporting monopolies in other sectors. Its one thing to have a poorly designed clock that doesn't work. Someone can easily replace it and get another. But poorly designed state structures and poorly designed currencies can wreak tremendous harm and loss of life measured in billions of people. One might think people would put more effort into those areas to prevent suffering and loss of human life.