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.
Topic: what will happens if everyone has own currency, doesn't a bad for Economics ? - page 6. (Read 20728 times)
December 27, 2019, 07:49:08 AM
December 27, 2019, 07:15:45 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. December 27, 2019, 06:59:56 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.
December 27, 2019, 06:42:34 AM
I think the real problem is that the producer can't get his money back. As a result, those who manage the money earn more than the producer. But everyone had the chance to gain power after Blockchain. Each company can print a cryptocurrency in their domains.
adaptation is needed, technological development will increasingly urge us to follow it. I think everything will be fine with the presence of the blockchain, it only requires adaptation and hard work. although companies make their own currency domain, but I think the government will set it on a regulationIt has a good impact on society because if the country adopts the use of cryptocurrency, they are now accepting the use of easy transfer of money and less hassle of a queue that the users do not wait a long time for waiting to verify their transaction. Time is gold, so we don't need to waste every second. Also, one of the significant problems to those countries who are still not accepting the use of crypto is about the security of their user. the government of a country wants to identify every transaction that happens in crypto like where the money came from, who is the one sends the money. All of the trades today must have records. But today there are a lot of countries accepting the use of crypto because they see the potential of it to increase the money in the country.
December 27, 2019, 05:53:58 AM
I think the real problem is that the producer can't get his money back. As a result, those who manage the money earn more than the producer. But everyone had the chance to gain power after Blockchain. Each company can print a cryptocurrency in their domains.
adaptation is needed, technological development will increasingly urge us to follow it. I think everything will be fine with the presence of the blockchain, it only requires adaptation and hard work. although companies make their own currency domain, but I think the government will set it on a regulation
December 26, 2019, 10:10:42 AM
I think the real problem is that the producer can't get his money back. As a result, those who manage the money earn more than the producer. But everyone had the chance to gain power after Blockchain. Each company can print a cryptocurrency in their domains.
December 25, 2019, 10:26:24 AM
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.
November 25, 2019, 06:25:52 AM
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.
November 24, 2019, 02:56:10 PM
Hi!
Bitcoin and other cryptocurrencies bear the stamp of impersonality, as well as classic money. This is the main cause of the evil associated with classical money. Always this evil was necessary, it was the price of economic growth and progress. But blockchain has made it possible to get rid of this evil through personal cryptocurrencies. So with personal cryptocurrencies, people will come to a bright tomorrow.
Bitcoin and other cryptocurrencies bear the stamp of impersonality, as well as classic money. This is the main cause of the evil associated with classical money. Always this evil was necessary, it was the price of economic growth and progress. But blockchain has made it possible to get rid of this evil through personal cryptocurrencies. So with personal cryptocurrencies, people will come to a bright tomorrow.
October 20, 2019, 01:56:35 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?
Rest assured this would never happen. All the altcoins coming up are not currencies they are merely stocks just financed in a form of cryptocurrency. None of them will be used as a mainstream cryptocurrency and none of them will get anywhere near bitcoin. We here are struggling to even recognize bitcoin as a universal currency and you are commending different currencies for everyone. There is zero chance that such a thing would occur. The teams themselves are not doing any transactions in their tokens. October 17, 2019, 01:58:10 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?
Rest assured this would never happen. All the altcoins coming up are not currencies they are merely stocks just financed in a form of cryptocurrency. None of them will be used as a mainstream cryptocurrency and none of them will get anywhere near bitcoin. We here are struggling to even recognize bitcoin as a universal currency and you are commending different currencies for everyone. There is zero chance that such a thing would occur. The teams themselves are not doing any transactions in their tokens. 
October 17, 2019, 01:51:23 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?
The emergence of numerous useless cryptocurrencies will not be able to solve any problems in our real physical world. It is necessary to create either new technologies or material values that will serve new types of cryptocurrencies. Just creating new cryptocurrencies should not be an end in itself and is an absurd and useless occupation. If you created your cryptocurrency, nobody will need it and will not have any value. 
September 22, 2019, 03:30:59 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?
Already today many new cryptocurrencies are coming out, but some have rushed in doing so, this has caused Libra de Facebook, since after having released this news it has caused a lot of controversy worldwide, because even countries have reacted, and it seems to them that even threaten their economies.
I think that the launch of any cryptocurrency will be beneficial for Bitcoin, because at the end of all, all Altcoins depend directly on Bitcoin, any cryptocurrency that is acquired knows that it can easily be taken to bitcoin and therefore to FIAT. I think that the altcoin with more strength, with more support will emerge, and those that do not have much strength will be forgotten, or will simply die.
September 22, 2019, 03:23:32 PM
Creating your own currency is easy, but making them become value is extremely hard. Bitcoin take 10 years to hit this current price. And how can you make your coin be valuable if you are just a regular person Wink Nobody will use your coin for any purpose
September 22, 2019, 10:30:26 AM
If everyone create their own currency and doesn't got a good features then it will be a dead coin, because the only one using it is only yourself, it is easy to create your own currency but it's hard to convince other to believe and used your coin, even if there are already people using your coin you still need to dedicate your time to make improvements and introduce your coin, so creating one coin won't make you less motivated
Yeah you're right. Everything will become useless if we have our own currency because you cannot use your own currency if they will accept it when use it to buy. And I think people will minimize the sins we did because popularly said money is the root of all evil. Imagine if we have our own currency we don't need to make fight others just because of money.
September 22, 2019, 08:06:33 AM
You have you're own money to build everything needs, and to pursue your cryptocurrency life..and why it will bad or why it will affect for economics? Yes we have a lot of coins to trade and we expected to received more than that as long as it will have a good value.
September 22, 2019, 01:33:43 AM
I think that we already have too many coins. Only few of them have the potential to survive at the market. Although the competition is good the flood of different low potential coins will not do any positive change.
Still we have to understand the context and the moment when many thought cryptocurrencies are the way to get rich. But with time some kind of selection will happen and I think that only the best coins will survive and not so many new will appear.
Still we have to understand the context and the moment when many thought cryptocurrencies are the way to get rich. But with time some kind of selection will happen and I think that only the best coins will survive and not so many new will appear.
In the topic of personal currencies, many mistakenly immediately recall the fact that now there are so many cryptocurrencies. It's a mistake. Many just currencies from questionable projects for the success or failure of which no one bears reputational losses. A person's personal currency will be provided by the real value of such abstraction as reputation. In order for your personal currency to have solvency, you will need to value your reputation and be able to generate or own values.
As a result, I do not think that the presence of many cryptocurrencies will contribute to the development of the state economy. The level of development of the economy of each state depends entirely on other factors.
September 22, 2019, 12:48:34 AM
. Who wants to exchange real values for your cryptocurrency candy wrappers?
On my candy wrappers (my currency) will want to change their values the one who then wants to buy from me what I will sell for their currency. This scheme is obviously inconvenient. Therefore, this scheme will introduce a decentralized or multi-intermediary-exchanger, within which one currency will be transparently changed to another and thus the final counterparties will use the currencies that they want. Issuers of their currencies will use their currencies in these transactions. Of course, they will ensure their own value by supplying their "assets" (goods, services) to the market and accepting their currency as payment. (From exchangers as their buyers, we remember, will use that currency which is pleasant to them.)
September 16, 2019, 01:07:58 PM
Having their respective currency would destroy the economic and the financial sector as the difference in value would be prejudicial to countries who have their currency valued to be the lowest and the cheapest. Not to mention, this would also affect people who lacks such access to these currencies as they purely exist on the internet.
Think of it this way, if everyone has their respective currency, what would determine the value of each? How would the law of supply and demand work in this kind of dynamic in determining its prices? This would be subject to manipulation by people who has the power to purchase majority of the coins which would have the sole power to manipulate the prices.
That is true. The more coins we make, the more we destroy the equilibrium and balance especially if we adapt these currencies as our own.
Think of it this way, if everyone has their respective currency, what would determine the value of each? How would the law of supply and demand work in this kind of dynamic in determining its prices? This would be subject to manipulation by people who has the power to purchase majority of the coins which would have the sole power to manipulate the prices.
To many coins brings a negative effect on the market, brings chaos and destabilisation, every day would be created hundred of different coins.
That is true. The more coins we make, the more we destroy the equilibrium and balance especially if we adapt these currencies as our own.
September 16, 2019, 12:30:17 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 cryptocurrency, no one will need it, except with the exception of some of your friends. In fact, money is a substitute for material values. This is an advanced bond receipt. In the case of a banknote, this is a receipt from the central bank of the state and it gives the right to a certain part of the material assets available in the state. With the advent of cryptocurrency, economic laws have not changed and continue to work further. For cryptocurrency to be in demand, you need to convince people that its value is equal to a certain part of material values that have a certain price in ordinary currency. Who wants to exchange real values for your cryptocurrency candy wrappers? Jump to: