Lol. Currencies work a bit like goods and services. Their values depend on users. If a currency has no unique use case, users will find it unattractive and there will be less demand for it.
Anything easily divisible, rare, valuable and hard to fake can be used as currency. So not just paper or digital currency.
So no matter how much currency you print, if there is no demand for it, it is just as good as useless and it's not going to make you rich .
Topic: what will happens if everyone has own currency, doesn't a bad for Economics ? - page 8. (Read 20705 times)
March 02, 2019, 06:36:05 AM
March 02, 2019, 05:46:56 AM
Certainly it is good for the cryptocurrency economy since it will promote the use of digital currency. As I have noticed, while people didn't have so much access to the use of cryptocurrency, the lesser will be the opportunity that they will have to learn how to use it. The only problem that each cryptocurrency will have to face is competition. It would be a tough one such that other cryptocurrency may just be left unremembered if they couldn't catch up with the competition and certainly will die, so it is more like the survival of the fittest where only the strong remains. Not unless if the digital currency stands for a nation just like fiat which means it is government owned.
March 01, 2019, 06:28:24 PM
You've created cryptomoney in your house, and what's the value of it? Of course, zero. but if you're talking about mining at home ethereum or bitcoin. At that time, you know that this is a cost. even now it's hard to pay for electricity. '' so nothing will happen.''
March 01, 2019, 03:37:16 PM
Obviously, this is very bad for the economy. If everyone has their own currency how can we do a transaction? There is at least one currency that everyone has agreed to be able to transact. If everything is selfish and still wants to transact using its own currency then I make sure the transaction will never happen.
March 01, 2019, 03:10:01 PM
It is bad but I don't think it is enough reason to say that they won't work in a regular job which is in all needed to grow the economy and the communities property. And most of the owned launched currency of a country still don't reached their success even they're target purpose is to get off poverty in any country that's why they're still need more development.
March 01, 2019, 03:43:08 AM
If everyone makes their own currency like you said, then each one of those currencies will be worthless. Who's going to want to take your currency when they have their own?
something that will not be possible because if everyone has their own currency, of course the exchange and trade will not occur trading and buying and selling transactions and we can be sure the economy will get into trouble February 28, 2019, 10:33:33 PM
It would not be bad at all, because we would be expanding the blockchain era to what all blockchain projects have really wanted, but we can not put aside the traditional economy where they always rely on theories to stabilize and study them in more depth, what would cause fear in people, is the high volatility that would cause, because they would be effusive with a bullfight, but may not be prepared for a big fall.
Everyone or company can make digital currency to use in their community, but whether this makes it easier or more difficult, naturally there will be natural selection where it can survive or die.For the national scale, the official fiat currency remains the government that must be used as a legal payment instrument, but in certain communities they can innovate digitally with the application of blockchain that will bind the community to use their digital currency. Outside the community the system cannot be used. So the conclusion will not affect fiat money issued officially by the government.
February 28, 2019, 01:55:55 PM
I think that tokenization could bring something good into economics, especially if it is used for something like loyalty system, every shopping mall could have their token with bonuses for custumers.
February 28, 2019, 01:34:46 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?
People would not probably create their own currency because other people's own currency will have no value. The government will not also approved with such a thing because it can increase the rate of poverty in a country. 
February 28, 2019, 03:40:03 AM
Actually this thing has bad impact, if that happen then every people will decide the value itself where with that value, it's not necessarily accepted by people. It will become very hard in the trading and the economic of course. Thing like this lie you bring poundsterling to the vendors in jakarta of course it will have no value. Because they don't know the value of it.
right what you say if everyone has their own currency, of course all economies will become unbalanced and of course it is very difficult for the government to regulate the economy that will occur 
February 27, 2019, 05:28:46 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 blockchain system will definitely evolved a lot more in the future and people will also developing and lots of economic changes in their life and definitely it will happen in sometime but how it going to change the economy is not known by the future will be the answer for this to say what happened on that day. 
February 27, 2019, 05:07:15 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?
Does OP meant that each individual literally have his or her own crypto? That would be a nightmare to trade person to person but I'm assuming everyone just converts to bitcoin or some common crypto or fiat. Not to mention that they may be all generated differently, like how some alts are generated by captcha, btc and eth through mining etc.
The problem with that is how would the value be determined. I'm assuming that would make most of them useless. Like, how would my own crypto be worth more than, say Bill Gates'? I don't think there's even an incentive to differentiate since everyone has one.
February 27, 2019, 02:45:00 PM
If everyone can have crypto currencies on their own then it won't have any value.
So they need to use single or multiple crypto currencies to have demand for it which are created already.
Yes it is bad for the fiat economy and it will cause no inflation so most of the prices in this world might fall.
At first I will say it is not possible at all and after that I am agree with what you are saying that it is not good for our country economy, because crypto currency is being use as payment too, so if they will use their own crypto currency it will be hard for market holders to access so many coins are the same time, and profit will be equal to nothing so I think it will leave bad effect on our economy. So they need to use single or multiple crypto currencies to have demand for it which are created already.
Yes it is bad for the fiat economy and it will cause no inflation so most of the prices in this world might fall.
February 27, 2019, 12:59:19 PM
It would not be bad at all, because we would be expanding the blockchain era to what all blockchain projects have really wanted, but we can not put aside the traditional economy where they always rely on theories to stabilize and study them in more depth, what would cause fear in people, is the high volatility that would cause, because they would be effusive with a bullfight, but may not be prepared for a big fall.
February 27, 2019, 11:06:35 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 think everyone will not create their own currency because if that actually happens it looks like they only creating their own payment method which is useless, because it will absolutely will not have any value. 
February 27, 2019, 09:06:12 AM
If everyone can have crypto currencies on their own then it won't have any value.
So they need to use single or multiple crypto currencies to have demand for it which are created already.
Yes it is bad for the fiat economy and it will cause no inflation so most of the prices in this world might fall.
So they need to use single or multiple crypto currencies to have demand for it which are created already.
Yes it is bad for the fiat economy and it will cause no inflation so most of the prices in this world might fall.
February 27, 2019, 08:22:07 AM
It will not happen that everyone will have its own currency, I foresee a regulation and policy in the cryptocurrency space that will develop laws for ICO developer, which will caution them from project that are not require to have own coin. The space is still evolving.
We are people! We are the source of power and Law. As we want and will be. In order not to take away the monopoly on money from countries and not to enter into an unnecessary conflict, let's call our own cryptocurrency not money, but the word that will be allowed. There are already such words. Bonds, promissory notes... tokens
after all.currency? of course there will be chaos, because there are lots of currencies circulate? That will never happen
February 27, 2019, 06:30:17 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?
It will be ridiculous if everyone has its own currency because it will be ineffective or it will be all unsuccessful. The government will also not agree if everyone has there own currency because it can also result more socioeconomic problems in a country. 
February 26, 2019, 11:53:25 PM
I think it will not happen and it is not possible, everyone has their own currency, we have a country, the government is all under control, both the economy and the currency.
when talking about digital currencies such as crypto or coins it is possible, as long as the transactions of each digital currency are adjusted to the currency of each country. Like what is happening now.
when talking about digital currencies such as crypto or coins it is possible, as long as the transactions of each digital currency are adjusted to the currency of each country. Like what is happening now.
Yes you are right , its not possible .There are many coins that makes every year but did`nt know who is the owners. But i think the one possible is the every countries have own cryptocurrencies and maybe its happen if your country know the important of crypto in online. Many cryptos are make to transacts as a payment method and many more different uses.
February 26, 2019, 11:45:31 PM
I think it will not happen and it is not possible, everyone has their own currency, we have a country, the government is all under control, both the economy and the currency.
when talking about digital currencies such as crypto or coins it is possible, as long as the transactions of each digital currency are adjusted to the currency of each country. Like what is happening now.
when talking about digital currencies such as crypto or coins it is possible, as long as the transactions of each digital currency are adjusted to the currency of each country. Like what is happening now.
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