Topic: what will happens if everyone has own currency, doesn't a bad for Economics ? - page 5. (Read 20735 times)
January 20, 2020, 05:53:09 AM
The nature of money represents the material and currency used for exchange. The more valuable currencies are, the more people use them. If everyone had their own currency, the world economy would be meaningless. Therefore, the development process of the world brings us to the current development stage.
January 20, 2020, 03:18:38 AM
If everyone launches own currency, most of these currencies will cost almost nothing. So it will be a disaster for the economy.
January 19, 2020, 06:15:09 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?
Creating of various cryptocurrency without functional products is the reason why the market is filled with shit coins, and fraudsters using the opportunity to scam gullible investors by creating scam coins.
I want to say that everyone cannot create cryptocurrency, if it happens regulations will be stiffer, in order to deter people from flooding the crypto space with crypto.
January 19, 2020, 06:12:29 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?
IMHO, I think it's simply a convergence of mainstream-like financial instruments. But the currency you're talking about can be seen in form of both platform utility and actual money.
You need the asset to act as a utility to use the blockchain-related product.
Secondly you need the asset to act as "shares", hence the financial instrument part.
But when two parties agree to trade or exchange such currency, it could seem to have a medium of exchange value. So in the end it really doesn't matter if everyone has their own currency, what matters is the value they bring to the table, either as a tech, financial speculative instrument or as a medium of exchange.
January 19, 2020, 05:49:22 PM
When basically every private person has his own crypto currency, it won't affect the state's economy, as such a crypto currency won't play any role at all and will be completely useless signs. It's not going to be used anywhere, because it won't be needed for others. Therefore, wasting time and money on it doesn't make sense. The better thing is to use what is out there already, especially if it's btc
Because, the demand for a specific crypto currency is what makes it valuable, if no one would care to buy someones crypto currency it is useless. Like any other crypto currency, if the demand for a certain digital currency is high its supply would decrease and the price would pump. But, it is not bad to have your own crypto currency, I too, would want to make one someday even if it is just for me. January 19, 2020, 05:12:42 PM
It seems to me that the more different currencies appear, the more confusion. I think that in the future this situation will be resolved somehow. It is impossible to prohibit the creation of new currencies, and it’s wrong, but we can decide which currencies to use in certain cases and which not.
January 19, 2020, 04:41:09 PM
It wouldn't be terrible at all, as we'd extend the blockchain age to what all blockchain ventures really requires. But we cannot put aside the mainstream economy, as all of these projects on a high level more or less depend on it, as if it was impossible to trade it for the fiat i doubt that anyone would be using crypto. Hopefully in the future all these economies can coexist together and make the world a better place to live in.
January 02, 2020, 09:36:03 AM
In my opinion every person or even every country has their own cryptocurrency will not adversely affect economic conditions.
Due to the current condition, almost every month new cryptocurrency is created, some countries have even begun to create it
their own cryptocurrency. Like the country of China now they decided to support the blockchain and make their own coins.
But now the economy is not become bad with lots of cryptocurrency scattered, because not all cryptocurrency has a high demand.
If cryptocurrency there is no demand, then the volume will also not exist, it can cause be dead coins.
Due to the current condition, almost every month new cryptocurrency is created, some countries have even begun to create it
their own cryptocurrency. Like the country of China now they decided to support the blockchain and make their own coins.
But now the economy is not become bad with lots of cryptocurrency scattered, because not all cryptocurrency has a high demand.
If cryptocurrency there is no demand, then the volume will also not exist, it can cause be dead coins.
January 02, 2020, 06:44:24 AM
Economies are bad because we consume constantly. We consume extra. Because someone constantly want to earn more. There are many people who want to earn more than they need to live. Blockchain can't change just about anything. But it can help us for a more transparent currency scheme. Not all big companies need to print blockchain-based money.
Cryptocurrencies get value only if it gets demand so any coin without demand will be worthless but its still can be transacted by paying the fees which is unnecessary by the way.Already one of the biggest company called facebook is in the process of making it so possible lot more to come if they get succeed which greatly affects the fiat value so it is not going to be possible. 
December 30, 2019, 05:24:26 PM
Economies are bad because we consume constantly. We consume extra. Because someone constantly want to earn more. There are many people who want to earn more than they need to live. Blockchain can't change just about anything. But it can help us for a more transparent currency scheme. Not all big companies need to print blockchain-based money.
December 30, 2019, 09:29:20 AM
When basically every private person has his own crypto currency, it won't affect the state's economy, as such a crypto currency won't play any role at all and will be completely useless signs. It's not going to be used anywhere, because it won't be needed for others. Therefore, wasting time and money on it doesn't make sense. The better thing is to use what is out there already, especially if it's btc
December 30, 2019, 09:25:20 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 blockchain era indeed gave us all the chance to create our own version of currency and what's in it depends on us completely. I don't think it would be possible to have everyone their own currency considering the fact that each needs investors and operators which can't be seen on an individual alone. If ever this happens, the world will end up being more divided that's why it is important that we patronize only those currencies that has the potential of being someday and meets what we need in our daily lives. 
December 30, 2019, 07:23:19 AM
We should be having a single uniform currency across the globe. A few hundred years back, each of the city states had their own currencies, because one city was isolated from the other. But now technology has made world smaller and you can travel from any part of the globe to the other in less than 24-hours. Under these circumstances, there is no point in having so many different currencies.
December 29, 2019, 02:41:57 AM
If everyone has their own currency, it is unlikely that it will be valuable, its value must be recognized by the community in order to use it, so I think when everyone knows about cryptocurrencies and uses it. , there is a common currency and it is not inflationary, people will work hard to have it because it is valuable and recognized by everyone.
December 29, 2019, 01:47:32 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?
Currency allows you to replace material values. The state can issue its national money in the amount of increased material assets in society. Therefore, the idea of issuing your own money is absurd. You can release your money if you create material values for their nominal value or provide your services for this amount. Otherwise, your money in any form will not cost anything. 
December 28, 2019, 04:48:46 PM
There's a lot of altcoins. There is altcoin inflation in the market. The world is going to a very different economy. Every business can print its own money. Blockchain offers a new economic revolution. Strong company's money expands its dominance. What about states?
December 28, 2019, 04:16:19 PM
If everyone has their own version of currency then it will be a chaotic scenario because people will get confused a lot on what is the value of the other currencies around. People will not have an agreement since if you are the creator of the currency then you have the right to set the value of it. It is still better to have a major currencies around because it sets the standard on what should be the value of the minor currencies based on that major currency.
The era of blockchains sets in motion the life of many investors and traders. Their future depends on this, and everyone counts on their capabilities. The era of blockchain and crypto makes it possible to earn on investments in bitcoin. It gives freedom to man.
December 28, 2019, 03:47:15 AM
In my opinion, it would be bad for the economy of a country because if there is too much currency then it will clutter the marketplace of a country and people will be annoyed of the different options that they have. It is better and cleaner for the economy to have one dominant currency that everyone can use.
You are right, if a country has a lot of currencies then how people could control the price and the uses? the bad thing is we could not use it permanently because we know it is a single use only and only for one product or company if it dont have more investors. like now there are many altcoins but a single of them use only for their platform and still don't use anywhere.
December 27, 2019, 09:42:24 AM
Well, that is true. People could create their own currencies and that would not be a problem to them since they can just improve things that is already there but the problem here is the value of that currency they've made. You could create a lot of currencies but I don't think without investors, that would not have any value hence it will be useless, don't you think? Saying that it would not be bad nor a problem to the economy of a country.
Image a situation where there is only BTCitcoin in this market and no shit coins or any of the alts, i bet the market valuation of BTCitcoin would have been much greater than what it is now, the countless billions of dollars that are lost to scams and if you take an analysis of the market if it was only BTCitcoin, the market would have been much bigger and hence the valuation, i am not a fan of alt coins and hence i do not want the market to fill with copy cats without any particular use in different names. These situation will not create a problem for a country but it will affect the BTCitcoin economy. December 27, 2019, 08:39:22 AM
Well, that is true. People could create their own currencies and that would not be a problem to them since they can just improve things that is already there but the problem here is the value of that currency they've made. You could create a lot of currencies but I don't think without investors, that would not have any value hence it will be useless, don't you think? Saying that it would not be bad nor a problem to the economy of a country.
In my opinion, it would be bad for the economy of a country because if there is too much currency then it will clutter the marketplace of a country and people will be annoyed of the different options that they have. It is better and cleaner for the economy to have one dominant currency that everyone can use.But why would they use something that is new? That might not even have value? Think it this way, do you use bitcoin and when you knew another altcoin you immediately use that? No, that is the reason a lot of new altcoins are dying since there are not enough investments going in that currency, eventually, it will die. If a lot of people would be creating their own currencies, it will be survival of the fittest. They won't be using something they just knew, people are not that stupid.
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