One nation one currency...

[arwin100]

I hope there is 1 or 2 global currencies so that it can be a global price standard, and in my opinion crypto is a better thing than fiat so it is worthy of being a global currency that is recognized by the state, and I hope the state can accept crypto because of more benefits, whereas if if if Only depending on single currency certainly makes the economy vulnerable from problems such as inflation.

We can actually consider USD as global currency since as we see this one used by many country especially when they are dealing some product overseas or even online. Also bitcoin can be consider as that also but unfortunately majority of the country is not supporting it and most of them prefer fiat over digital currency this is why it will take time before bitcoin will be recognize as a global currency.

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[yawars20]

This is like a fantasy novel where things are as simple as you saying.
But we live in a real world with 8 billion peoples with different races and different cultures to follow. To engage with that many peoples, it not possible for a single nation to hold same type of rules as the whole world geographically not the same then how can peoples living in it could be same.
With this in mind we only can think of a  common goal to follow where each and every human beings toward a better living place for coming generations and for those who are still living here.
 

[uchegod-21]

I hope there is 1 or 2 global currencies so that it can be a global price standard, and in my opinion crypto is a better thing than fiat so it is worthy of being a global currency that is recognized by the state, and I hope the state can accept crypto because of more benefits, whereas if if if Only depending on single currency certainly makes the economy vulnerable from problems such as inflation.

We can actually consider USD as global currency since as we see this one used by many country especially when they are dealing some product overseas or even online. Also bitcoin can be consider as that also but unfortunately majority of the country is not supporting it and most of them prefer fiat over digital currency this is why it will take time before bitcoin will be recognize as a global currency.

USD is very popular and one of the strongest currencies in the world. Even if it can be said that USD is one of the global currencies, it cannot be the only currency of the world. The power of one currency is determined by the weakness of another currency. So, there can't be one global currency.
If there is one global currency and inflation hits the currency, the whole world will suffer.
If bitcoin becomes the only world currency and during crash the world will bleed also.

[marine4u]

I think the world is never meant to be one, the way which the world is right now with different nations is the reason why the world is developing through the differences in currency,  economy, and resources.

Currency cannot be unified because it lies within the borders of each country's interests.  Previously, the "Bretton Woods" meeting had suggested that the dollar should be linked to gold, the currency for the rest of the countries to be linked to the dollar, in which the United States plays a leading role and this leads to profits great benefit and it has been overused to increase the dominant interest of "money".  This is one of the reasons, to unify currencies to a common standard, there is no need for any leader or middleman – yes, bitcoin can.

[Bitcoin2009]

One nation one currency is something that makes it easy for the country to be able to control the value of money, if it is in circulation and there are many currencies, of course it will make things unexpected, and of course will make the use of legal currency abandoned.

[andriarto]

if in this world there is only one nation, of course this can be bad, because with the existence of various nations this occurs due to differences in views by the leaders of each nation, and that is where the main attraction is, so that we can respect and need each other, because Every nation has its own advantages. and with the current situation it is still difficult to use a currency that can be accepted anywhere. therefore we will not know what will happen in the future, about the changes in the times that will occur

[realdantreccia]

So there's a metaverse game that's on one of the longest Bitcointalk.org forum altcoin creators and he created an interstellar game where each planet has a nation and that nation has a currency that either he created on a blockchain and moved off to Open-Transactions contracts then to STELLAR and Horizon (yes the NXT clone with HZ currency) as assets/tokens representing each of the nations blockchain born currencies. You'll find some you recognize and some if you weren't around in 2011 that you gotta do a little historical research on. But I was thinking about this meta game and its last 11.5 years. It even existed before Bitcoin blockchain currencies. Why DO we allow ourselves to have more than one national currency these days? That is fiat issued debt money by central banks? In the end its all about closed circuit systems, CB to Bank, Bank to CB. Customers withdrawing cash merely get IOUs from the Central Bank (in our case "Federal Reserve Notes" accepted everywhere by mandate and false trust in a system that burned us all at least once in our adult livelihood - as a millennial the 2008-today period has been a real kick in the sack.

I think the game teaches a lot though. Even though each nation or "civilisation" of planets has their own national blockchain currencies (7 were private made from early 2010 bitcoin client modifications to the conf file/testnets and the rest were publicly released outside this game here on this forum) - the treasuries work that every currency and every share of the corps within these planets in this game back each currency in the treasuries system. So everything that backs one particular coin in the treasury has a value for each coin per unit. To get the price per coin you take the treasuries value back each coin and divide it by the amount of blockchain coins minted per that unit. To do this he runs a script over and over looped until every value backing every chose coin in the system works in all directions. It's some pretty advanced computational cycled math. If there was a worldwide treasury backing a total of under say, 42 national currencies and it worked like that, that would make sense to me and also encourage everyone with a national currency to be as responsible and honest with its issuance/rates. In that system the only one who screws up their currency with everyone else backing it is the issuer imo.

Here's a bitcointalk post by 'markm' explaining the treasuries system from recently in early 2022:

https://bitcointalk.org/index.php?topic=3015517.msg59411967#msg59411967

By GM he means the Galactic Milieu.

The Milieu uses "treasuries" for assets so that the game does not need to try to rely upon having enough players constantly actively "playing the markets", arbitraging between different "spot markets" and so on acting as a form of "price discovery" for the various currencies and assets used in the game in order to calculate relative values for those currencies and assets.

Such assets / currencies include, among many others, DeVCoin, IXCoin, I0Coin and so on.

DF refers to the Devcoin Foundation, which currently the game is not actually computing a per-share value for based upon an official "treasury" maintained for that purpose, but which nonetheless does in practice hold a treasury of assets.

The game does not currently need to include DF in its calculations, so it seems likely what was really intended to be referred to was DeVCoin's treasury from which a value per DeVCoin is calculated when the Latest Rates include-file is generated. (The rest of the tables and plots linked at http://galaxies.mygamesonline.org/digitalisassets.html are all computed from the Latest Rates include-files, updated each time a new Latest Rates file is uploaded.)

IXCoin, I0Coin, TeneBriX, FairBrix, Gold Pressed Latinum Classic (GPL), Gold Pressed Latinum 2 (or 3.0 in actual code version I think: GPL2) and so on and so on each have a "treasury" from which the game calculates the value-per-coin by dividing the total value of the treasury by the number of coins minted.

Not everything in an asset's treasury is visible in the HORIZON account used as main treasury; there are some things that are not recorded in HORIZON such as Collateral Units and shares of General Hosting Corp. But all the HORIZON assets in the treasury are in the treasury account.

Things like IXCoin are relevant to DeVCoin and a whole bunch of other coins because IXCoin is considered a "reserve asset", that is, it is an asset that can be held in Treasuries that are used to calculate the value per coin or per share of other currencies, Corps etc.

IXCoin's own Treasury account on HORIZON is the account NHZ-5A29-DGYZ-W64Y-2DDEU

IXCoin's latest computed value based on its Treasury is, as shown in the current Latest Rates include-file, IXCrate=622.28180647 DeVCoins. (You can tell that copy of the Latest Rates file is denominated in DeVCoins from the fact that it shows DVCrate=1.00000000; whichever asset it is recomputed to be denominated in will show as 1.00000000. DeVCoin is the default simply because historically DeVCoin tended to have the smallest value-per-coin thus using it to denominate all the others provided the finest granularity of values.)

I see that IXCoin's treasury does not directly contain any DeVCoins per se right now, however it does contain shares of DeVCorp and of GFC (sDVCrate=1265699.22523802, sGFCrate=4948598.18878723) both of which are highly sensitive to the value of a DeVCoin, so it is in the interests of IXCoin to uphold the value of DeVCoin as well as those of the many other coins and assets that form its Treasury just as it is in the interests of all those that hold, or intend to hold, IXCoin in their own Treasuries to uphold the value of IXCoin.

The many coins and assets are thus very intertwined, with an interest in upholding the value of the whole Galactic Milieu family of currencies and assets.

You can review the various assets on the HORIZON platform and the Stellar platform at http://makemoney.knotwork.com/

-MarkM-

To me the game really is a big simulation on what a one world treasury might bring about in the end...

More info on the metaverse/metagame Galactic Milieu (economics): https://www.devtome.com/galactic_milieu

Here's a calculator with every treasuries currency from the game that can help you get values for any coin against another one of our Devcoin developers did to speed up rates based on the last time the currencies script was run (markm runs maybe 1-2 times a month based on his game): https://latestrates.traxo.me/?from=DVC&to=USD

Here's the best update he's given in 2022 as well with ELI5 type talk and how the in-game economics really do cross over to the real world since blockchain has made real money from what began as valueless or game currencies (remember Bitcoin was bootstrapped in a big way by VirWoX + Second Life. A writer who covered it in 2013 during Bitcoin's bull run mentioned he had L$ from simply logging into Second Life daily from an early time in the 2000's and used that money to buy a good amount of Bitcoin (BTC) off VirWoX!

2022 Update (Freeciv, Galactic Milieu treasuries): http://forum.freeciv.org/f/viewtopic.php?f=16&t=92170&p=104907#p104907

Sometimes the best way to create a working system in the real world is to test it with the world of real people connected to the internet inside of a simulation/game...

[Viscore]

One country one currency is possible, one country two currencies is possible, but all countries for that one currency is not possible.
OP, you can imagine for yourself whether you can or not, but so far many countries have never legalized foreign currency in circulation legally as a means of payment.

I know you want bitcoin to be a global currency that can be used as legal tender in all countries of the world, but believe me, governments will never like bitcoin because it is not a currency they can control. The decentralization of bitcoin is something that goes against the government's idea of ​​a currency. This will not happen. In addition, there are many other centralized currencies such as fiat which also cannot be used as legal tender in countries that do not legalize it.

The fact that each country has its own legal currency, its own rules and policies, so its really hard for all the countries to end up having a single currency, especially if its bitcoin since majority of the government are against in it. Though its quite possible for a single country to adopt bitcoin as a legal tender like El Salvador, but you can't expect for other countries to have the same views and perceptions too like El Salvador sees bitcoin.

[Gyfts]

From the beginning of humans, we have created boundaries between ourselves by lots of conflict over the century. Our greediness and eagerness for more power make us intelligent animals. Humans are capable of their own destruction. But what if those never happen? what will be the scenario of the current world if there is only one nation and one currency and humans invest their full strength for human resource development and the development of science and technology? What do you think is that even possible in the future and what will be the benefits and inconvenience of it?

Humans are inherently greedy by nature. Acting within one's self interest is how humans were able to evolutionarily survive and become the dominant species on the planet over some hundreds of thousands of years. There can't be one nation, there are too many culturally divergent societies with different value systems. For that reason, there would not be a single currency either but for a decentralized currency system like Bitcoin. Bitcoin could take the place of USD as the world's reserve currency because it acts independently of politics and culture and I anticipate that process happening over the next decades as countries act negligently with their own currencies.

I would say, humans could get a lot done if they put down the weapons of war and worked together to innovate for the betterment of mankind,. Unfortunately that's rather a fanciful hope.

[Agbe]

Even in the fantasy world such has not happened and I do not think it will happen in the imaginary world. In Biblical Allusion or inference, when the Israelites we're building a tower to heaven, they were speaking one language and at that time, everything was very easy to get and build but when Discovered that, they were coming to see the sky, which was a detrimental to them, he changed the language to different languages. Everyone began to speak different languages and confusion began to arise. And everything was destroyed. What am I trying to is that, as we, the people or human beings using different languages in the world, we can not use one currency. Because the world economy is capitalism.

It is only in a Socialist world, one currency can be used but not in a capitalist world where everyone is business oriented. Using one currency in the world now and in future will not happen even in the the dream world.

I Know why and where you are driving this delusion to. It is all about bitcoin. Remember bitcoin is not the only Currency in the Crypto ecosystem there are a lot of Crypto Currencies in the space. What will happen is still happening now. All the Currencies in the world now, Dollar is the highest value and most use currency in the world. That will be in the case in the Crypto ecosystem. Bitcoin will be the highest value and use currency in future but not in Currency system.

[stepwilli]

if in this world there is only one nation, of course this can be bad, because with the existence of various nations this occurs due to differences in views by the leaders of each nation, and that is where the main attraction is, so that we can respect and need each other, because Every nation has its own advantages. and with the current situation it is still difficult to use a currency that can be accepted anywhere. therefore we will not know what will happen in the future, about the changes in the times that will occur

It also allows people to live their own culture as well. Like how are you going to have one nation that all consists Americans, Mexicans and Canadians, I am just taking north America here, do not even get me started on other continents because difference there is bigger.

Even neighbours are attacking each other as we have seen recently, how do you make one nation in that situation? Who rules it? The one with the bigger population? By that logic biggest ruling parties would be Chinese party and Indian party because they are the biggest population in the world. All in all, it wouldn't work because we are all different cultures and seem a bit harder to achieve.

[KennyR]

We can't expect the World to get united and form an one nation, one currency policy. Just think of a country, it can be any country around the world. From one country it have got evolved as a separate one. This has happened as a result of power and keeping humans as slaves. So, an one nation one currency is a failed one. If people are united, then instead of money there will be exchange of commodities. If money is used surely then the problem begins.

[sayaya17]

if in this world there is only one nation, of course this can be bad, because with the existence of various nations this occurs due to differences in views by the leaders of each nation, and that is where the main attraction is, so that we can respect and need each other, because Every nation has its own advantages. and with the current situation it is still difficult to use a currency that can be accepted anywhere. therefore we will not know what will happen in the future, about the changes in the times that will occur

It also allows people to live their own culture as well. Like how are you going to have one nation that all consists Americans, Mexicans and Canadians, I am just taking north America here, do not even get me started on other continents because difference there is bigger.

Even neighbours are attacking each other as we have seen recently, how do you make one nation in that situation? Who rules it? The one with the bigger population? By that logic biggest ruling parties would be Chinese party and Indian party because they are the biggest population in the world. All in all, it wouldn't work because we are all different cultures and seem a bit harder to achieve.

With all the differences that exist in each country, it becomes difficult to unite all countries into having one currency. As you said that on a small
scale we still often disagree with our neighbors, so it is too difficult for all countries in the world to unite and have one currency. This is very unlikely
to happen, especially if we look at it now that there are several countries that are at war because they have differences of opinion. So we have to
think realistically that nowadays every country has their own culture and rules. Likewise, regarding the issue of currency, each country has their
own currency and this will continue to happen at any time.

[mdgabrielzim]

We can't expect the World to get united and form an one nation, one currency policy. Just think of a country, it can be any country around the world. From one country it have got evolved as a separate one. This has happened as a result of power and keeping humans as slaves. So, an one nation one currency is a failed one. If people are united, then instead of money there will be exchange of commodities. If money is used surely then the problem begins.

I understand your point of view, however, we could create an entity that would control the issuance, distribution and maintenance of that currency. I think it would solve most of the problems with this proposal.

[7788bitcoin]

We can't expect the World to get united and form an one nation, one currency policy. Just think of a country, it can be any country around the world. From one country it have got evolved as a separate one. This has happened as a result of power and keeping humans as slaves. So, an one nation one currency is a failed one. If people are united, then instead of money there will be exchange of commodities. If money is used surely then the problem begins.

Getting an united world politically is an impossible task and you cannot expect everyone to use the same currency. But if you are trading with someone then you can give them the opportunity to choose a currency that would benefit both and if it truly benefits each other then there is nothing to worry about adopting it.

I did not understand what you are talking about power and keeping humans as slaves.

[Synchronice]

From the beginning of humans, we have created boundaries between ourselves by lots of conflict over the century. Our greediness and eagerness for more power make us intelligent animals. Humans are capable of their own destruction. But what if those never happen? what will be the scenario of the current world if there is only one nation and one currency and humans invest their full strength for human resource development and the development of science and technology? What do you think is that even possible in the future and what will be the benefits and inconvenience of it?

Can you imagine a society without hierarchy? Can you imagine anarchy over governments? One could make up things in mind but it's impossible to overturn the reality.

One currency is possible and already exists. Everyone in every place will happily accept gold, diamond and other precious stones.
But it's impossible to form one nation because humans are inherently social animals, social grouping species. Observe, family members that were raised in the same area, are different from each other, neighborhoods in each area, are different from each other. Different cities have different cultures and attitudes. This applies to different countries and even different continents. Even the city Barcelona wants to get out of Spain, even South Korea and North Korea are hugely different.
See how Asians differ from Europeans, South Americans from North Americans, etc.

After this, do you really think that we can form one nation? We can only do that in a limited area, that's our maximum. People will always form social bonds, people will always confront each other, that's just our nature, our hormones. The reason why men are aggressive compared to women is that men have high testosterone levels while women have high estrogen and oxytocin, both of which make them emotional and empathic. Even our brain hormones differ, men have higher dopamine levels than women, which leads men to make more risky tasks, chase success, motivation, etc. This is a very complex task, it will take a lot of time for me to explain clearly and I assume it will probably be boring for the audience. But I hope you get the point!

[famososMuertos]

There are several innovative ideas that were thought for this 21st century, which are far from happening, but instead other unthinkable and even with ridiculous projections in the intention are dominating the current technological scene with extreme influence in the social, cultural.

The above has a time parameter from the 20th century to the 21st century, I don't know how old you are but there was a lot of enthusiasm with the 21st century, it seemed that several things were going to change and it happened! some have disappeared, others have improved our way of life, in fact we could say that a single type of currency.

So why a single currency would make things different, in reality the real change is in what as individuals we represent and think.

[n0ne]

We can't expect the World to get united and form an one nation, one currency policy. Just think of a country, it can be any country around the world. From one country it have got evolved as a separate one. This has happened as a result of power and keeping humans as slaves. So, an one nation one currency is a failed one. If people are united, then instead of money there will be exchange of commodities. If money is used surely then the problem begins.

I understand your point of view, however, we could create an entity that would control the issuance, distribution and maintenance of that currency. I think it would solve most of the problems with this proposal.

No, the problem won't get into conclusion. If every country have agreed for the one nation one currency formula, then the countries people will demand money according to what they have hold earlier. This once again lets the accumulation of wealth within specific region and creates inequality in wealth distribution. Right now we say America is rich, after one nation one currency we say southern part is rich.

[Chato1977]

I hope there is 1 or 2 global currencies so that it can be a global price standard, and in my opinion crypto is a better thing than fiat so it is worthy of being a global currency that is recognized by the state, and I hope the state can accept crypto because of more benefits, whereas if if if Only depending on single currency certainly makes the economy vulnerable from problems such as inflation.

We can actually consider USD as global currency since as we see this one used by many country especially when they are dealing some product overseas or even online. Also bitcoin can be consider as that also but unfortunately majority of the country is not supporting it and most of them prefer fiat over digital currency this is why it will take time before bitcoin will be recognize as a global currency.

Don't just Hold unto that mate because USD maybe one of the most popular and used currency bit we also have Bitcoin right?
we are in crypto community in which we can learn that in the future it is Crypto or Bitcoin that will be the One Currency of the world.

[Zanab247]

"One nation one currency" debates will end when everyone starts to discuss which currency will this one and what nation will be selected as a starting point. In fact, this will lead to a more fragmented society. Nobody will want to loose their individuality. Every single person is unique, and that is why "One nation one currency" will never happen. This can be possible only in movie, where is only one tyrant leader. And we all know how this movies usually ends.

I think it will be difficult for the world to become one nation one currency because there are still some countries who don't allow their citizens to use other countries currency apart from their own currency in the country. Even the decentralized currency that is helping many countries to eliminate errors from their transaction and to reduced unemployment from the countries and still other countries banned it from their countries which will be difficult for the world to embrace one currency in the world.