Topic: what will happens if everyone has own currency, doesn't a bad for Economics ? - page 2. (Read 20735 times)
April 14, 2021, 07:14:16 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?
April 13, 2021, 10:21:26 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
April 13, 2021, 03:36:02 AM
The question is born dead. Currency is about having a common agreement on the value it represents and confidence in being able to exchange it for good and services, being able to exchange it for another form of currency and having the backup of a large community. Having such a thing as personal currencies is just not possible.
However, if you want to theorize, some of those coins, backed up by the work and money of the people considered more worthy would be valuable and most would be just sh*tcoins. Does this sound familiar?
However, if you want to theorize, some of those coins, backed up by the work and money of the people considered more worthy would be valuable and most would be just sh*tcoins. Does this sound familiar?
April 13, 2021, 03:26:02 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?
I dont think every one can own their own currency as in If I understand your question correctly meaning Everyone developing their own Cryptocurrency? Even if this was possible, not all will be adopted cos we already see that in the crypto space now with a lot of dead projects so some peoples coin will still fail. But in a second thought, If you are saying If everyone would have access to owning cryptocurrency will no longer motivate not to work, I dont think so too cos now even the few that have access to owning cryptos dont have equal share and there will always be the hunger to get more and that will still lead to work. Either way I dont think that will happen.
April 13, 2021, 01:43:59 AM
The environment will be looking good, if everyone can own currency in the world because there will be improvement in the economy of the people. Many investors made a huge amount of money from cryptocurrency, that is making some country's who doubt crypto some years ago start having interest on cryptocurrency.
More cryptocurrency can only reduce the amount of unemployment in the world, if all government can do the necessary things in the land not to allow scammer to have ways in any of the cryptocurrencies.
More cryptocurrency can only reduce the amount of unemployment in the world, if all government can do the necessary things in the land not to allow scammer to have ways in any of the cryptocurrencies.
April 13, 2021, 12:40:35 AM
making more cryptocurrencies will only create more 'shittoken'...
of course, this is not good for the economy. we will only see fraud tokens in circulation and that will make cryptocurrencies even worse in public. really the worst thing.
indeed with the increasing number of tokens that are created, it will make a lot of useless tokens that prey on investors or traders with fraud. but we also cannot manage the more and more tokens and the more tokens that are missing from the market of course, this is not good for the economy. we will only see fraud tokens in circulation and that will make cryptocurrencies even worse in public. really the worst thing.
April 12, 2021, 11:57:33 AM
making more cryptocurrencies will only create more 'shittoken'...
of course, this is not good for the economy. we will only see fraud tokens in circulation and that will make cryptocurrencies even worse in public. really the worst thing.
of course, this is not good for the economy. we will only see fraud tokens in circulation and that will make cryptocurrencies even worse in public. really the worst thing.
April 11, 2021, 01:23:35 PM
If everyone has it's own crypto, i think the competition in market will be hard for those who does not have enough funds to run their project well. So in my opinion, it is still better if the owner of cryptocurrencies are only those people who have the power to run a project that can help our economic going well.
Billions of people in different countries every day prove that they have the power to earn public (not their own) money, instead of using this power to provide real value to their own personal currency
March 20, 2021, 10:05:10 AM
If everyone has it's own crypto, i think the competition in market will be hard for those who does not have enough funds to run their project well. So in my opinion, it is still better if the owner of cryptocurrencies are only those people who have the power to run a project that can help our economic going well.
March 15, 2021, 03:13:44 PM
this is not bad just currency will have different value
If everyone creates their own cryptocurrency, then almost all of it will be useless numbers and signs. It will have no value. Therefore, this is a stupid idea. To be of value, it must either serve a certain type of business, or in some other way be useful and create convenience, and therefore be in demand.A token can be created in half an hour. You cannot feed the poor and the needy; this will not add material values.
March 14, 2021, 12:08:05 AM
Creating currency isn't a difficult task but creating it's demand will be harder. You need to make others believe that it has potential to stay in the market. Then market will decide whether it will continue with its demand or it will be dead. From my perception, if everyone creates own currency, no value will be provided from others.
March 08, 2021, 01:53:10 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?
yes same thoughts crypto adoption is coming and what if it gonna make a lot people wealthy Only the creation of material values directly leads to the growth of wealth.
February 14, 2021, 08:03:59 AM
There is no doubt that governments in the future will follow the trend and create their own national cryptocurrencies. But it seems to me that everything will not happen as we expect and explaining its actions by the security of the state financial system and economy, the government will create its own blockchain and its own national cryptocurrency, and not use existing platforms. In this case, the question arises as to how safe it will be for users.
February 05, 2021, 02:34:41 PM
There have been periods in the history of mankind when private money prevailed, not public money.
For example, in the Middle Ages, many influential feudal lords (earls and dukes) had the right to mint their own coins.
Checks, bills of exchange, bonds - all these securities increase the money supply.
These days, the time has come for digital money and cryptocurrencies. Central banks are planning to issue digital money (CBDC). Large corporations also want to get the right to issue their own money. There are also decentralized cryptocurrencies with the PoW consensus algorithm.
In the future, we may see an even greater variety of different types of money.
Private coins in the Middle Ages were minted mainly from gold and silver. They themselves already had value as a piece of valuable metal. The minting only indicated the person who issued the coin.For example, in the Middle Ages, many influential feudal lords (earls and dukes) had the right to mint their own coins.
Checks, bills of exchange, bonds - all these securities increase the money supply.
These days, the time has come for digital money and cryptocurrencies. Central banks are planning to issue digital money (CBDC). Large corporations also want to get the right to issue their own money. There are also decentralized cryptocurrencies with the PoW consensus algorithm.
In the future, we may see an even greater variety of different types of money.
In our time of digital money, cryptocurrency must be in demand due to serving some kind of developing business or otherwise having a real product that will provide additional benefits and convenience to people.
Just creating your own cryptocurrency is stupid and useless, since no one will need such a cryptocurrency.
January 28, 2021, 06:59:03 PM
I don't understand what are you talking about. Currently, every country has their own currency or way of fiat money just for example in USA they have USD, Philippines have PHP or peso, Japan have Yen. Every country has their own currency and I think it doesn't have any effect to the economics. If what are you trying to say is that when everyone will be having a crypto currency what would happen? then probably there will be some dead coin just like what is happening here in the crypto, but still this will not be happen because cryptocurrency will be forever an alternative currency.
I think he's referring to individuals having their own digital currency which is there's possibility that it might happen soon but prolly it'll just increase the number of assets that is not usable. I also doubt that it might happen in the future, it doesn't make sense. Even now we can make our own digital currency but we aren't doing it because it can't have value. I'm only seeing bitcoin as one of the potential cryptocurrency that can be paired to fiat, nothing else. 
January 28, 2021, 06:14:59 PM
I don't understand what are you talking about. Currently, every country has their own currency or way of fiat money just for example in USA they have USD, Philippines have PHP or peso, Japan have Yen. Every country has their own currency and I think it doesn't have any effect to the economics. If what are you trying to say is that when everyone will be having a crypto currency what would happen? then probably there will be some dead coin just like what is happening here in the crypto, but still this will not be happen because cryptocurrency will be forever an alternative currency.
I think he's referring to individuals having their own digital currency which is there's possibility that it might happen soon but prolly it'll just increase the number of assets that is not usable. I also doubt that it might happen in the future, it doesn't make sense. Even now we can make our own digital currency but we aren't doing it because it can't have value. I'm only seeing bitcoin as one of the potential cryptocurrency that can be paired to fiat, nothing else. January 28, 2021, 01:41:26 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?
and what's the problem when seeing unmotivated people?
also, people will still be motivated to make their crypto to be the most valuable cryptocurrency.
human nature, trying to be the blablabla they want.
let see a different perspective and assume people have their own cryptocurrency (and of course with value).
in this decentralized space, it's not a problem I think. people have their own crypto, easy to swap/exchange via dex.
however, I believe there will be one main currency (BTC/fiat) that they will still rely on as the pair for exchange.
January 28, 2021, 10:37:12 AM
I don't understand what are you talking about. Currently, every country has their own currency or way of fiat money just for example in USA they have USD, Philippines have PHP or peso, Japan have Yen. Every country has their own currency and I think it doesn't have any effect to the economics. If what are you trying to say is that when everyone will be having a crypto currency what would happen? then probably there will be some dead coin just like what is happening here in the crypto, but still this will not be happen because cryptocurrency will be forever an alternative currency.
January 28, 2021, 07:37:26 AM
This has been one of the reasons why bitcoin and all other coins has been criticized so far and I am sick and tired of it. Why would anyone consider this as a problem I will never understand. First of all we are not going to have 8 billion tokens and coins, not "everyone" will have their coins, we are never going to reach there for sure.
Secondly we are talking about nearly over half of all the tokens and coins not cared at all, sure you can "create" it but that doesn't mean that others will have to care about it, they could totally ignore you and that is what happens for over half of them. The other half have very very low number at the bottom, and nearly half of them are ignoreable small unimportant ones, only the top 100-200 are the ones that make any sense, rest of them are useless.
Plus even if everyone one day has a token or a coin, if there is a rate and a way to exchange it to yours, why would anyone care? All nations have their own currency and that is not good neither, it doesn't work, fiat is useless, so have your own useless token if you want and as long as you can get it accepted that is fine too.
Secondly we are talking about nearly over half of all the tokens and coins not cared at all, sure you can "create" it but that doesn't mean that others will have to care about it, they could totally ignore you and that is what happens for over half of them. The other half have very very low number at the bottom, and nearly half of them are ignoreable small unimportant ones, only the top 100-200 are the ones that make any sense, rest of them are useless.
Plus even if everyone one day has a token or a coin, if there is a rate and a way to exchange it to yours, why would anyone care? All nations have their own currency and that is not good neither, it doesn't work, fiat is useless, so have your own useless token if you want and as long as you can get it accepted that is fine too.
January 21, 2021, 10:33:24 AM
Actually right now, we can have our own currency but who'll invest in it? who'll circulate the flow? how can it have value? If all of us are having the same agenda then it's not guaranteed that our own coin to have value. So it's very impossible for everyone to have their own currency unless they have good agenda, people, and huge investors that are interested in your currency. In order to make these things possible, we also need high-level skills and have a great connection with big people in this industry.
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