Topic: what will happens if everyone has own currency, doesn't a bad for Economics ? - page 4. (Read 20735 times)

This is the opportunity that makes the people have their own freedom of having financial currency but the main competition is if the currency they've created will perform and compete to win over other cryptocurrency. There are many aspects of development aside from crypto, if they might not be well suited for being a developer of a competent crypto, they might find AI, and programming to be their platform of development and success.




If everyone will have their own cryptocurrency, the main problem is that, how could these currencies have its value? As we all know value will be obtained from the demand of the people with it. If you are the only person demanding for your own coin, then your coin is worthless.

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.

The appearance of each own cryptocurrency does not make any practical sense. Money has always represented, and will continue to be, an actual replacement of material values. Therefore, cryptocurrency can often be considered one of the types of securities. Everyone can create their own cryptocurrency, however, it will not be of any value. We already see this on the example of many new tokens. Such a frivolous approach to the creation of cryptocurrency does her great harm, since it allows her to be considered as unsupported digital symbols.

I figure this sort of world would empower new sorts of installments and an additionally enabling sort of credit framework. An individual token could work a ton like credit, yet where every individual had greater chance to improve their credit and control its usefulness.

It is very good that the topic of own currency is so actively discussed!

Most objections are that a lot of currencies will lead to a lot of confusion and complexity.
The second objection is the incomprehensible reason. What for? Why produce shit that won't cost anything?

There are simple answers to all these objections. But first, the main thing. What for?
Answer: OWN CURRENCY - BASIS of personal sovereignty!

Other objections include the following answers.
There will be no confusion and complexity. Own currency will not have circulation between all people and issuers it will not be necessary. Issuers will only need to circulate their currency between them and the actors of the new financial world, exchange services - which will be involved in transactions when the issuer wants to buy something in its currency from a seller who wants to accept fiat, a known cryptocurrency or also its currency as payment. Thus, the issuer and the actors of the new financial system (who will earn on conversion) will have their own currency.
In order to make this possible, of course, issuers will have to provide real value to their currency. If they don’t do it, their currency will not be interesting to the actors, and it will turn into shit. How issuers provide the value of their currency, professionals in the new market will also tell you.

 Blockchain will ensure the competition of actors for each issuer. Actors of the new financial system will pay far more respect to issuers than traditional banks. And this is good. OWN CURRENCY - BASIS of personal sovereignty!

Everyone can create a coin of their own and just allow a few people to use it privately in their organization alone and so just give a value of it between them. Like I'm a local store and will just accept my own coin for easy audit reason using blockchain I guess and will allow my customers to download my store app to pay me. I don't think it will affect the economy, it will only affect if its added on cryptocurrency markets.

Take a look at the current crypto market.  There are so many different types of tokens and cryptocurrencies.  Most of them have zero liquidity and only a few have good liquidity and are frequently used by people.  A currency needs a history to create value.  The same goes for cryptocurrencies and it's even more complicated.  In addition to being in circulation they also need to be recognized and have a strong development team.  A country's fiat currency is run by governments and banks that help keep them in circulation.  Cryptocurrencies will be a lot harder because they are founded and operated by private individuals.  So to say that every individual creates different currencies and exchanges them is a crazy idea.

Creating a shit coin is definitely the last thing you would want to do as a cryptocurrency investor. Most especially nowadays when people are much more focused on established coins on the market. It'll also oversaturate the market which is definitely bad for the ones that are already put up on the market.

Is there any different between everyone creating coins and  all the shitcoins (ICO) that are coming out on a daily basis  milking investors money? I see no different, and is not good for the crypto space because that is one way scammers use to make themselves money.

Of course, a country with big economies and research talents, it is very normal for them to create their own currency, which will unify the domestic transactions but if every individual can create their own currency, it's really bad, that looks like we're living on a worthless landfill, there is no unity and I can not know how that country will operate when everyone has a separate direction. But as many people have said, creativity is easy but applying is not so, government needs regulations, they can't let people work and create that freely

That was too bad for the economy and that was taking a lot of time before creating if all person does have their own money. How the value of it make sense? If the country do have own crypto then that was too normal because every country do have their own currency and it was only like a fiat into a crypto.

It is not possible at all people can not make their own coin because it needs experts mind and planning if you are not expert and you have no idea what actually the crypto is how you become able to create your own. It will not be applicable to have so many Alt coins in market it will strictly effect our economical state of crypto coins that we have to get profit and people may lose so much amount of money in this regard.

You know what there are so many people out there who tried and developed their own cryptocurrency but guess what? most of them are failed, no one was interested to buy their coins. Creating cryptocurrency it's not easy as people think, you can create your own but the value is determined by the demand and supply, so no need to worry about that it is nothing to do with the economic, the coin who brings benefit to the community will succeed.

In my own point of view, if everyone has their own currency and making their own paper money or virtual money, therefore it has no value at all and there are no such thing are rich and poor because how would you exchange goods and service from it, if it doesn't have any purpose and value at all.

 I mean everyone CAN have their currency, its not really that hard, you can literally just print one whenever you want to, or if you want digital just create one if you want to. The deal is not the fact that everyone can't have a coin of themselves, the fact is that how would you actually get it accepted? Look at the current altcoin system for example, there are literally over 3 thousand coins made so far in the world, probably more but 3 thousand we know of, and only 5-10 of them get accepted somewhere decent, sure there are ones accepted in very very limited places but only like top 3-5 of all coins are accepted widely and only bitcoin is adopted properly. So yeah, anyone can have their coin, they can burn it when they feel cold because thats all it would work for.

If everyone has their currency then the money is of no value because anyone can create it. that means, it's the same in a world without money. You surely know what happens if the world no longer needs money.

There can be a lot of unique cryptocurrencies, because each person who has the appropriate knowledge can create his own project and his own cryptocurrency.  But all this will be rubbish if these cryptocurrencies are not of great interest to society.  Those cryptocurrencies that will be claimed by man in everyday life will be appreciated.  Even the current situation with the largest number of cryptocurrencies boils down to the fact that they invest the most in cryptocurrencies because of the opportunity to earn thanks to the volatility of cryptocurrencies, and few people worry about the future prospects of a particular coin.

E veryone can't have their own cryptocurrency. It's all imagination. But if it's possible, it won't be nice. Not because it could affect the economy but that there would be so many coins littering the whole crypto ecosystem. It's funny to imagine though.

Not everyone can take out their own currency. It's a strange situation, but we'll go back. We'll be back, guys. We start trading with barter. Olive and wheat tokens may be released. I think a funny situation will arise.

It wouldn't affect economically but it is needless. Diversity is fine and all, but too much of something is too bad. And if everyone has their own type of cryptocurrency then their money won't be worth anything at all. It can't be used for purchases, trades are gonna be much harder. And the economy of the cryptocurrdncy world will saturate. Leading to adverse effects on leading coins in the market. So it's fine that we have numerous coins to choose from, but not to the point where everyone has their own cryptocurrency.