If all of us will be having their own currency then who will accept the trade? the big problem on this matter is we must convinced each everyone that we will be dealing with to believe in our capacity so what would happen?
Only those established name will be getting through and we will back again to "Whales and small traders " situation like what we are having now?
I don't think that this is appropriate instead why not just support bitcoin and let the market do the rest?
i know that there comes a time that we are questioning the capability of Bitcoin but do we have option if this coin is the only currency that can go against the abuse of fiat?
a currency that we can call our own?
Topic: what will happens if everyone has own currency, doesn't a bad for Economics ? (Read 20705 times)
June 11, 2021, 07:10:12 AM
June 11, 2021, 06:35:55 AM
It's easy to make your own currency. However, its difficult to convince other people to use your currency especially if they also have their own. So to answer your question directly, it will still be useless and worthless if everyone has their own currency because the only person that will patronize the currency you made is no other than yourself. Unless of course, you have proven the people about your currency's potential. Then, that's the time you'll have many users. Though probably, that will take a long period of time and will be very tedious work on your end.
After all, those worthless currencies will be dead and vanish in no time. It won't be a problem in a country's economy because it will be gone the moment there's no one using it. I mean, what's the point of retaining something you do not use, right? It will just become a trash. If it will be disposed right away, it will not hamper nor made a negative impact to the growth of the economy.
After all, those worthless currencies will be dead and vanish in no time. It won't be a problem in a country's economy because it will be gone the moment there's no one using it. I mean, what's the point of retaining something you do not use, right? It will just become a trash. If it will be disposed right away, it will not hamper nor made a negative impact to the growth of the economy.
June 07, 2021, 01:23:47 AM
In my opinion that's is not a problem. One thing that I understand is money should have value which is intrinsic value or non intrinsic value. I think that will not happen. The creation of money should fulfill some criteria, I think if someone create his own money but nobody want it then it is just a trash for other people. I think there is should be atleast another person who accept his money then it can be considered as valuable money. Honestly I don't like to think complicated things too much, I prefer like to think about something that exist and what I can do with it. Now, there are cryptocurrencies and I can make some profit from it. So I like to learn about how I can maximize opportunities in cryptocurrency investment.
Depends on what others will accept. If a company like an e-commerce site creates a crypto coin, they may only accept the coin they own so clients will likely be forced to buy the coin that this e-commerce owns thus will set an intrinsic value to the coin.
If amazon will launch its own coin, it will also work this way. They will not accept any other coin but their own. If someone or any other store accepts their coin then it's their option.
June 07, 2021, 01:08:56 AM
In my opinion that's is not a problem. One thing that I understand is money should have value which is intrinsic value or non intrinsic value. I think that will not happen. The creation of money should fulfill some criteria, I think if someone create his own money but nobody want it then it is just a trash for other people. I think there is should be atleast another person who accept his money then it can be considered as valuable money. Honestly I don't like to think complicated things too much, I prefer like to think about something that exist and what I can do with it. Now, there are cryptocurrencies and I can make some profit from it. So I like to learn about how I can maximize opportunities in cryptocurrency investment.
June 06, 2021, 07:45:46 PM
It wouldn't function so easily as each currency made by every individual battles together for dominance on who will lead the price war. If people were given the chance, it is more likely that many will suffer and some will dominate the game. It is an evidence that the blockchain era is flourishing which will be much evident in the future as crypto continuously dominates the game. We should familiarize ourselves and take what we can while there is still time for crypto so in the future, we'll be one of those who will benefit.
June 05, 2021, 11:37:49 AM
If each individual can create a kind of technology, great. The world will have more blockchain application solutions. But to achieve that, people around the world will have to make a lot of effort. Perhaps the world will reach full development if that happens.
Just like projects that raise capital from ICOs, IDOs do not last until the end. When each individual has a project, the competition will be extremely fierce, so we will only recognize and use the best projects. Also, projects will be acquired by larger businesses so I'm not too worried about the world having too much crypto.
Just like projects that raise capital from ICOs, IDOs do not last until the end. When each individual has a project, the competition will be extremely fierce, so we will only recognize and use the best projects. Also, projects will be acquired by larger businesses so I'm not too worried about the world having too much crypto.
June 05, 2021, 10:54:32 AM
no I guess because if we think of it ,
every country has their own currency and in crypto currencies we have thousands of coins on here created by different people but in crypto not all are going to be used officially .
Creators of currency doesn't slack off but they need to work to improve their currency because if they not , they will loose users .
every country has their own currency and in crypto currencies we have thousands of coins on here created by different people but in crypto not all are going to be used officially .
Creators of currency doesn't slack off but they need to work to improve their currency because if they not , they will loose users .
June 05, 2021, 09:53:45 AM
States and cities are territoriality. And the blockchain and the Internet make territorial and other bindings unimportant every day. People become free to enter and exit extraterritorial associations. And it is personal, proprietary currencies that will also contribute to this. Those associations will have an economic power whose members will have their own high-value currencies. And the dynamics of the courses between the members of the associations will be considered smart contracts and oracles.
May 20, 2021, 01:48:32 PM
I think states and cities having their own currencies is more possible and feasible in the next 10-30 years. When the time comes, states an cities might then realize that national currencies doesn't really help them and they might make their own currencies, pay it to the people who lives within their jurisdiction and accept it so people would possibly stay to their cities instead of going to metros.
People are also sick and tired sacrificing and going to metro cities just to earn funds and provide to their family even with in exchange, they had to leave their hometown.
And that would solve one of the most important problem the countries are experience which are over population, housing problem and scarcity. Imagine if that happens? This might be a fantasy but if it worked, that's a win-win to all.
People are also sick and tired sacrificing and going to metro cities just to earn funds and provide to their family even with in exchange, they had to leave their hometown.
And that would solve one of the most important problem the countries are experience which are over population, housing problem and scarcity. Imagine if that happens? This might be a fantasy but if it worked, that's a win-win to all.
May 20, 2021, 11:08:48 AM
Firstly, everybody cannot own a currency because of many cogent reasons among which are; not everybody knows fully well how this blockchain and all works not to talk of operation. I know in my country half of the people who are into crypto trading doesn't know a dim about how it works what they are concerned is to invest with money and take the profit later.
May 20, 2021, 10:55:41 AM
The economy of each state is supported not by money or their quantity. It is supported by the production of goods and the growth of the national gross income. Ideally, money should only reflect this process and simultaneously increase in quantity or decrease. Therefore, the appearance of each of their own cryptocurrencies for the real economy does not give anything. Cryptocurrency must be created for some real useful purpose. Otherwise, they will simply be unnecessary signs to anyone.
May 20, 2021, 07:23:38 AM
indeed it does not rule out that someone can make their own currency, but what will be a problem is whether other people can trust the currency that they create themselves. it is likely that the currency will be worthless when other people have little confidence in the currency that was created. I think it would be a waste of time when the currency was of no value because other people would have chosen the currency that the majority of people are more interested in.
May 20, 2021, 02:08:29 AM
Well if everyone create their own currency as easily as making paper money or their own money bill then it would be difficult to transact then because it would take time to convince people of your own currency is better that their own currency. You have a invest a lot of time making it great at bitcoin and make people believe you that it is useful and so on and so forth.. what I believe more would happen is a one world currency, there is possibility to this rather than creating your own currency
May 19, 2021, 07:10:27 PM
If everyone has their own digital currency. This means that we have advanced in time and the blockchain era is booming. I would not talk about everyone but I do think that all the nations of the world should have their own digital currency to improve the management of the economy of their citizens.
I believe that it is more feasible that it happens at some point and also that citizens have the opportunity to choose what will benefit them in the future.
I believe that it is more feasible that it happens at some point and also that citizens have the opportunity to choose what will benefit them in the future.
May 19, 2021, 03:33:05 AM
still the influence is in a way too small for everyone to own it never gonna happen
April 14, 2021, 10:19:33 AM
In my opinion, it is impossible for everyone to have their own currency. Currency is a medium of exchange for goods and services. In short, it's money, in the form of paper or coins, usually issued by a government and generally accepted at its face value as a method of payment. It should have value in order for you to use it in purchasing services and goods. For your coin to have value it must be recognized by the public. In cryptocurrency this will increase it's value through high demand. What does your coin do? What sets it apart from other coins?
Now there are already more than 9000 different types of cryptocurrency, and a significant part of them is useless, that is, it is not necessary and useful to people, and therefore is not in demand. Each cryptocurrency must fulfill some useful role, so the idea of each creating their own cryptocurrency is meaningless. 
April 14, 2021, 10:00:19 AM
The era of blockchain has given many people to make their own currency with different visions from the Artificial intelligence, personal data, finance etc. as we know the traditional currency is very influential in society & supports economic activity around a worldwide. wel, if everyone has their own currency doesnt this is will make everyone no longer motivated to work and will be to waste more time in front of computer. so, what do you think?
In order for your currency to have value, there has to be someone who will actually add an intrinsic value to it and that it has use case for it to also have demand.
Its true that if you have the power to have your own money, you will likely print more and this is exactly what countries had done today that cause the inflation. Its also going to happen to your own coin's economy if you create coins to add its supply. But you will be motivated to add value to your coin otherwise it will just turn zero.
April 14, 2021, 09:45:17 AM
People will always work to fill the gap (provide goods/services )of the needs of society otherwise someone will always fill the gap and become rich.
Concerning the topic, I think the question should be what will happen if we don't have a Currency that is Transparent, Public, Consensus-driven, Immutable, Secure, Decentralized(rather than centralized), Inflation-proof, Privacy/anonimity-friendly, Based on fair rules, Merit-based etc?
I believe this^ is better than currencies that are Centralized, Opaque, Private, Mutable, lacking in privacy/anonymit,etc
By the way, I wonder if anyone here can show us between the Decentralized and Centralized features listed above which one likely violate fundamental laws of societies
Concerning the topic, I think the question should be what will happen if we don't have a Currency that is Transparent, Public, Consensus-driven, Immutable, Secure, Decentralized(rather than centralized), Inflation-proof, Privacy/anonimity-friendly, Based on fair rules, Merit-based etc?
I believe this^ is better than currencies that are Centralized, Opaque, Private, Mutable, lacking in privacy/anonymit,etc
By the way, I wonder if anyone here can show us between the Decentralized and Centralized features listed above which one likely violate fundamental laws of societies
April 14, 2021, 08:56:56 AM
If everyone create their own currency and doesn't got a good features then it will be a dead coin, because the only one using it is only yourself, it is easy to create your own currency but it's hard to convince other to believe and used your coin, even if there are already people using your coin you still need to dedicate your time to make improvements and introduce your coin, so creating one coin won't make you less motivated
Yes that's right, if someone done making their own crypto currency, the second thing they need to do is encourage people iwho use crypto currency to use also their coins as form of money, and third they need to prove to everyone that their crypto currency is good and they need to convince them to keep their coins alive.
April 14, 2021, 08:38:56 AM
One I would love to ask what is the importance, advantage, and disadvantage of having your coin. Personally as literate as I am now for now I don't think of having my own coin not to talk of those who are not involved in the crypto world. Better for those who can have it for now
If the coin will bring innovation and use cases to the space and market, it should be encouraged. Ethereum was a great improvement on bitcoin until the number of transactions per second was discovered to too small and expensive. Most coins in the space are not necessary since other coins can be used. Jump to: