It is impossible for everyone to have their own currency because in fact, the existing currency is not based on an individual but a group or anything that regulates it which means it does not belong to one person. Besides, with so many different skills it is highly unlikely that this will happen and also, we only need to support what we believe is the best and not necessarily to generate our own currency.
This is not only poorly implemented purely technically, but also not rational and not effective, because the costs of mutual settlements between different people will be huge and still in the end there will be a process of crystallization and only the most necessary and resilient will remain. Decentralization is a great thing and one of the most popular modern trends, but like all phenomena, the process of decentralization has its limits. 
Topic: what will happens if everyone has own currency, doesn't a bad for Economics ? - page 3. (Read 20735 times)
January 20, 2021, 06:21:49 PM
January 20, 2021, 03:18:15 PM
It is impossible for everyone to have their own currency because in fact, the existing currency is not based on an individual but a group or anything that regulates it which means it does not belong to one person. Besides, with so many different skills it is highly unlikely that this will happen and also, we only need to support what we believe is the best and not necessarily to generate our own currency.
January 20, 2021, 02:54:57 PM
In case our purposeful is to have a all inclusive worthy advanced money it is simple on the off chance that you're having a single coin which coin seem rule the complete showcase and i need bitcoin to be that coin because it can be utilized in each showcase and really don't require all these coins within the to begin with put, since this market is unused and it could be a enormous cash bovine everybody is attempting to drain the benefits and subsequently underestimating the whole scenario.
January 20, 2021, 06:17:21 AM
at this point fiat money should not exist anymore
Unfortunately it's not that easy, if right now just the whole world start using crypto as payment and removes Fiat completely it would be a mess, we have less educated people that will have a very hard time using crypto, even if it's just for basic things like paying for stuff, that's why I believe all countries should be teaching basics about crypto in schools and start educating people from young age.
So basically the first step to worldwide adoption and maybe total removal of Fiat would be to have a schooling system that teaches crypto at least on basic level for a couple years, and only then we can hope that it works and doesn't create even more problems.
January 20, 2021, 04:34:21 AM
What kind of weird question is this OP? Presently every countries have their own currency I believe, so if every countries have their CBDC how will this affect the economy? Things will continue to be the way they are, the only difference is just paper money to digital currency
January 20, 2021, 03:45:02 AM
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.
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.
January 13, 2021, 05:00:22 AM
I think each person creating their own currency is more of a collectible value than it is for exchange and real value in the economy.
Nobody cares about them and there is no guarantee they have a stable value.
Nobody cares about them and there is no guarantee they have a stable value.
It seems that currency has only the value what other people would give you for it. So valueing your own currency at 100$ doesn't as long as you don't find anybody to pay you that money. So a lot of different currencies could work, as long as there is a big exchange were you can trade all of them. And also it would be good if merchants would accept all these currencies.
January 13, 2021, 04:29:43 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 sounds nice but dont you like it if that happen ? but i dont think all are going to be rich because not all can do what others can do and the world will be out of balance if there was no poor .
sure you can make your own coin with the help of blockchain and cryptos but that mainly exist in the digital world and not all that create a coin can be given a chance for their coin to be use for actual buying and selling , take example of those many altcoins and shitcoins . they didnt get listed and most of them got delisted .
October 16, 2020, 11:22:44 AM
if everyone creates their own currency, so most of them will not sold in the market, because it's too easy to create their own currency and demand will not exist too. While the supply is very abundant, most of them will even hard to join the exchange, maybe people will move again to bitcoin or gold later.
If there is anything extra than necessary, it does not have a price. If everyone has their own currency, it will have a bad effect on the economy. When everyone has the currency, no one will pay the price and the currency will not be adequately valued.
It will have no value because value will be created when there is demand of your coin. So all will keep using their own currency and thus other you no one else will be buying your currency. In such case the you have supply but no demand so no point of such currency. Else it will not work and will not have any value.
October 15, 2020, 09:36:51 AM
if everyone creates their own currency, so most of them will not sold in the market, because it's too easy to create their own currency and demand will not exist too. While the supply is very abundant, most of them will even hard to join the exchange, maybe people will move again to bitcoin or gold later.
If there is anything extra than necessary, it does not have a price. If everyone has their own currency, it will have a bad effect on the economy. When everyone has the currency, no one will pay the price and the currency will not be adequately valued.
October 09, 2020, 06:28:52 AM
if everyone creates their own currency, so most of them will not sold in the market, because it's too easy to create their own currency and demand will not exist too. While the supply is very abundant, most of them will even hard to join the exchange, maybe people will move again to bitcoin or gold later.
If there is anything extra than necessary, it does not have a price. If everyone has their own currency, it will have a bad effect on the economy. When everyone has the currency, no one will pay the price and the currency will not be adequately valued.
October 09, 2020, 03:27:34 AM
I think each person creating their own currency is more of a collectible value than it is for exchange and real value in the economy.
Nobody cares about them and there is no guarantee they have a stable value.
Nobody cares about them and there is no guarantee they have a stable value.
October 09, 2020, 03:18:22 AM
if everyone creates their own currency, so most of them will not sold in the market, because it's too easy to create their own currency and demand will not exist too. While the supply is very abundant, most of them will even hard to join the exchange, maybe people will move again to bitcoin or gold later.
If there is anything extra than necessary, it does not have a price. If everyone has their own currency, it will have a bad effect on the economy. When everyone has the currency, no one will pay the price and the currency will not be adequately valued.
February 25, 2020, 12:24:25 AM
The creation of new cryptocurrencies simply as a means of payment will make sense only if its security and functionality are enhanced. Another cryptocurrency must be created to work with certain projects and serve them. That is, an empty cryptocurrency will not be in demand, and therefore it will be useless and die.
February 10, 2020, 08:35:07 AM
I really hope that this will never happen, because this will be a huge amount of chaos, it is clear that the vast majority of such cryptocurrencies will not have any value at all and will only clutter various forums, observers and much more with its presence.
We have thousands of cryptocurrencies now.
Some of them died and some of them lived. Just like the survival of the fittest, the strongest one will love while the weak ones will die and be pulled like a weed. As vast numbers of cryptocurrencies are being made, the value of each one will be decreased, that is the same with other known or popular ones.
February 10, 2020, 01:19:29 AM
If people would make their own currency and stop to work. There would be no one who would be able to invest in cryptocurrencies, thats why crypto would be useless and wouldnt have any value. This would be a disaster for economics.
February 09, 2020, 11:10:55 PM
the world has their own currency(in Fiat) but nothing happens Bad right?so what more in crypto currency when we can use our currencies accurately and easily?
though i am sure Bitcoin will remain the most powerful currency but countries are making their own for each people and there is nothing bad about that.
let them create their Crypto why we are nourishing Bitcoin and other trusted Altcoins.
though i am sure Bitcoin will remain the most powerful currency but countries are making their own for each people and there is nothing bad about that.
let them create their Crypto why we are nourishing Bitcoin and other trusted Altcoins.
February 09, 2020, 10:12:19 PM
In this case we will have a plenty of odd currencies and shitcoins with zero value. Moreover, these currencies can be even worse that fiat money we have now.
February 09, 2020, 04:02:41 AM
There is an economic cycle in the world. In the beginning, trading was made by trade. Now we use money as a trading tool. What we do is still trading. Each company or person can have its own currency. However, every company must have the power to finance this currency. I think this will be based on gold again.
February 09, 2020, 03:18:30 AM
I really hope that this will never happen, because this will be a huge amount of chaos, it is clear that the vast majority of such cryptocurrencies will not have any value at all and will only clutter various forums, observers and much more with its presence.
We have thousands of cryptocurrencies now.
Some of them died and some of them lived. Just like the survival of the fittest, the strongest one will love while the weak ones will die and be pulled like a weed. As vast numbers of cryptocurrencies are being made, the value of each one will be decreased, that is the same with other known or popular ones.
Jump to: