Topic: what will happens if everyone has own currency, doesn't a bad for Economics ? - page 16. (Read 20729 times)
May 22, 2018, 10:11:06 AM
probably not, we are living in the world with many currency too i hink, still good for economic if the circulation are still going doesn't bad anyway
May 22, 2018, 10:06:21 AM
If everyone has their own currency then firstly it will not be worth any.Transaction will not be good either, nor will anyone want to invest in anyone currency's because the currency will not be trusted.And then there will be a bad effect on the economy.When there is a transaction in every house, there will be no cost.Above all, the economy will be damaged.
May 22, 2018, 09:29:38 AM
There could be positive effects as well. It's highly possible that people use their own currencies for research or developing new technology or improving the way of working around them. 
May 22, 2018, 08:41:38 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?
If this will happen its good and not a waste of time. This is just normal because we are in the modern society and computer is very in demand to the society wherever you go. Most specially if someone is being busy because he is making his living in crypto and he is using his computer for it. So how can we say that this kind of activity is a waste of time if it is actually not.? May 22, 2018, 08:41:11 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?
If everyone has their own currency, of course there is a positive side there is also a negative side of it, but they can easily trade with each other. We can see, although every country has its own currency but the world economy can be parallel. so is the case if everyone has their own currency, will not disrupt the world economy. That's my opinion. May 22, 2018, 08:18:34 AM
It would not be possible and it would be bad for the economy of the country. Imagine a world where everyone has its own currency. There will be chaos and confusion, why?
1. How would anyone know the value of each coin if they all belong to different people. Imagine different kinds of currencies in one country and to be exact a million currency in your own country. It would be too confusing to determine the value of each coin and it would be disastrous.
2. All people having one of a kind currency is like having different stones. You value your stones differently so how would you accurately buy and sell different items and services.
3. A designated currency is created so that the people will unite, for the people to have a common thing to share to each other. Bitcoin is trying to unify the world by providing a reliable and usable currency for everyone.
1. How would anyone know the value of each coin if they all belong to different people. Imagine different kinds of currencies in one country and to be exact a million currency in your own country. It would be too confusing to determine the value of each coin and it would be disastrous.
2. All people having one of a kind currency is like having different stones. You value your stones differently so how would you accurately buy and sell different items and services.
3. A designated currency is created so that the people will unite, for the people to have a common thing to share to each other. Bitcoin is trying to unify the world by providing a reliable and usable currency for everyone.
May 22, 2018, 04:24:51 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?
It's true that everyone with coding knowledge can make a currency today. However, the value of that currency depends on its merit. So I can create a currency but I can't create value of it. The free market will decide that. If the currency doesn't have any merit, then the market will simply reject it.
Let me give you an example of Valorbit. It was introduced as a new crypto currency back in 2016. I still hold 2 million valorbit coins, but it doesn't have a value in the market because of its low merit and the absence of a proper vision for the future.
We are currently going through a very unorganized times which can be compared with the dot.com boom during late 90's. The crypto market is pretty new and looking for direction. That is the reason why we are seeing a lot of new coins are popping up regularly and dying regularly. It will take some time to stabilize with the help of free market dynamics coupled with government's regulation. It is a slow process but eventually it will happen. Probably then we will see a downtrend to new currency creation because having a lot of altcoins are not actually helping the market. It is always better to have 10 solid coins instead of having 1600 different altcoins.
May 22, 2018, 02:31:05 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?
The currency will be in effect if the others agree that the money has a value. The process of creating money is not as easy as you think, there is a process whereby the currency must be acceptable to others for value. If everyone can make their own currency, I say yes it can, but not everyone can make the currency has value. You must understand the definition of money itself. May 22, 2018, 02:18:41 AM
If everyone has their own currency then it will be very bad with the economy of a country even very bad for the world economy because people are shopping or doing transactions with their own currency so that currency is no longer valuable because there are too many currencies circulating in a country.
It may happen. For now, Bitcoin remains the most popular non-centralized virtual currency, but there is no guarantee that its position will remain that way. There's already another set of coins inspired by Bitcoin. It may be assumed that significant development will be required by the new currency to take over Bitcoin in terms of market-building ability; although this remains unpredictable. Bitcoin may also be able to adopt the development of rival currencies, as long as it does not change the underlying basis of the protocol.
May 06, 2018, 01:30:49 PM
If everyone has their own currency then it will be very bad with the economy of a country even very bad for the world economy because people are shopping or doing transactions with their own currency so that currency is no longer valuable because there are too many currencies circulating in a country.
May 06, 2018, 01:29:10 PM
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?
If individuals or legal entities create their own crypto currency, then each such coin should perform some useful function other than a payment facility. This state can create its own coin only to fulfill the function of money, some decentralized coins can also perform only this function. For all others, their coins must first of all have a different purpose and it is permissible to use these coins as a means of payment to secure this assignment. If someone wants to release their digital coin only with the function of money, it will certainly be completely useless. May 06, 2018, 01:27:48 PM
There is no way everyone will has own currency.
May 06, 2018, 01:12:37 PM
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?
If everyone has their own cryptocurrencies then it will be same as of barter system where people exchanged goods for goods and there was no common currency to transact. So this will create a lot of complications and thus will be replaced by a common cryptocurrency. Then this is possible happen to your cryptocurrency if undeveloped well.
But in this type of world coins which people will make will have no value cause those coins whould be probably dead, no users/ no transactions/ no investors will kill those coins.
May 06, 2018, 12:56:25 PM
But in this type of world coins which people will make will have no value cause those coins whould be probably dead, no users/ no transactions/ no investors will kill those coins.
May 06, 2018, 12:23:45 PM
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?
If everyone has their own cryptocurrencies then it will be same as of barter system where people exchanged goods for goods and there was no common currency to transact. So this will create a lot of complications and thus will be replaced by a common cryptocurrency or anything like that. But as this can't be the case and also the bitcoin is like USD of cryptocurrencies as every currency's value is always seen by comparing it to bitcoin. 
May 06, 2018, 02:21:25 AM
No.Even if everyone make their own currency,then who would be ready to accept such currencies?
You're right man, I guess having an independent currency doesn't mean bad at all but to make it accepted with others that's a difficult one. People doesn't even care to how currency is, like when we were talking about fiat economy's stabilized value as well as regulations doing well. The impotant is you knew how to develop a certain currency, and one example of that is an ICO project ran by a trusted developer that's knowledgeable enough to market the project so many investors will gain interest to participate with the crowdfunding.
May 05, 2018, 02:41:46 PM
In my opinion, it is not a very good idea to have different currencies. I am not great economist but I think that it is better to move to the system which will be the same for most, i can see the future in cryptocurrency
May 05, 2018, 02:38:45 PM
There are hundreds of fiat currencies in the world. There are thousands of cryptocurrencies in this world. As long as there are enough people ready to accept them, there really is no problem. Of course, the market value will get fragmented amongst these currencies.
May 05, 2018, 02:24:43 PM
I believe you are right. but there is a point of contradiction. Think, that individual currency is not so easy to be accepted by mass people. Before getting accepted, it has to be created its own value what is done already by BTC. But once accepted, i think Economy will be developed with the help of blockchain.
May 05, 2018, 02:21:00 PM
No.Even if everyone make their own currency,then who would be ready to accept such currencies?So its not possible to happen.The pioneer and the most trusted bitcoin itself has not been still accepted everywhere and so no one would be ready to give value to such self created currencies and sell their goods or provide their service.So its totally illogical.
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