Bitcoin Forum

Should we all not have our own coin?

@VitalikButerin has eth
@rogerkver has bch
@chaumdotcom has xx
@SatoshiLite has ltc
@adam3us has btc

and 8000 others have their own coin.

I think everyone in the world should make a coin with the same supply.  That would be more legit than working for another mans supply... Or have 1 coin we all earn at the same rate upon creation of supply.

You an also put dog shit in a bag and use it as a medium of exchange and nobody can prevent you from doing so but also you can't force other people to use your "currency". However, if you create a market for the dog-shit-in-a-bag coin and pump and dump it some people will come and trade it for a while before it dies.

In the end only thing remains and that is the decentralized bitcoin that nobody owns or controls.

Sick burn.

To make it clear OP, if we create more supply than the demand then prices will start dumping. Just because everyone can make their coin does not mean that they should make their coin. With so many coins in the market, do you think that your coin will have a chance to get their own time in the limelight, not to mention that you want everyone to create their own coin.

This is serious, and who will use them? In essence none will survive other than those coins people see have true value like Bitcoin, and it's not like all will be done at once but as it comes out, it will be screened out.
In a more better way; you highlighted that there are about 8000 others who have their own coin, assuming that is true because I hard check those things, now out of the 8000 how many are actually working, how many are in the minds of people? Just few, why? Because a lot of people are getting wise and strict with their money, hence it is taking more than just launching a project to keep investors, you have to offer something tangible and unique, else they will see it as pump and dump project most times it might not even see the light of the day.
So in all ramifications, there is no need for everyone to have their own coin, but there is need for everyone to focus on those coins that will bring more prominence to the crypto space such as Bitcoin.

Have our coin means we are creating our own coin? If that so, I think I will not do it right now, and I prefer to be a player who will benefit from having many coins at the market because my purpose is to make more money from every potential coin. But if in the future, I can have a solid team and I am ready to create my own coin, I will do it ;D

It is not easy to manage the project, but it is easy to create a coin or token because you can hire someone who can create the coin or token you want. But the problem is how we can manage the project to run for a long time and have a big investor inside the project. That will not be easy to convince the investor to join our project.

These is no problem in creating your own coin, you can go ahead and create one but how will you create the demand for that coin? You have to convince the investors what different your coin can do? 8000 others have tried but how many of out of those 8000 were able to convince everyone you should know that.

Your thinking is very strange, if everyone has their own coins, then, who buys, each one already has it.

From where these kinds of ideas and come to your mind, I hope you are well, not in brainwashing.

If everyone chooses a mind like you, this world will experience an unbalanced tilt, there will be no more poor people in this world, everyone already has their own product to use.

I have the same thoughts, why and where in the hell the OP get this idea, really absurd really to the boundary that it gives me a good chuckle.

Anyhow, it's not going to work this is not how money works in the first place. There are a lot of crypto's already that we can used as money, so it doesn't make sense at all.

I don't know if you understand how the system works do you think if we can do that we won't do it? do you think if everyone of us have coin do you think eveyone of it would have a value at all?

There is not problem about it, you can just create fork from bitcoin and create own bitcoin but nobody will pay attention to it or buy it at all. You may know bitcoin is decentralized and nobody owns or controls it at all. Vitalik owns ETH and we know exactly who owns it, knowing the true identify of owner will not make anything better because can put the decentralization in danger.

What a bad idea indeed. I guess you already understand why all of the ideas running on your head are all wrong so I think it is enough. I wil no longer give more emphasis.

Anyway, that's fine. Don't get easily offended, use it as your inspiration to study further. I advice you to study economics, I am not saying that you must become expert on that area. Learning the basics including the Law of Supply & Demand and how our economy works would be a great stepping stone :).

It's your idea and I like the fact that, you think, it's just a thought in your head. It's cool but, I'll like to ask you this @OP, should everyone have their own coin, what would be the point?
Who gets to get what out of the next persons supply?
A lot of crypto enthusiast had tried and we see lots of them failing up to this moment. A visit in the bounty section aside from the fact that, most of the projects there are scams but the few legit once that scales through usually don't last. It sells for a while and once it's market cap isn't reached, it begins to experience a gradual decline and just like that, it's off the market.
I don't see a point in everyone owning their own coin.

You are free to create your own coin, mine them all alone at the beginning and whatever you want. There are coins from a lot of persons don't necessarily mean they are bad. I see some altcoins as very helpful because they help me to send cheaper tx.

It sounds good but at the same time, not a good idea. Let's say you created one "mycoin" who will be aware of this coin? You can create one if you have millions of followers on the net, then they can own the node of your system and run it. Let's say you have your own coin then you need great promotion to be get accepted by the crowd which has 8000+ other cryptocurrencies. Why should they choose your "mycoin"?

@OP, I just can't stop laughing.  :D
You mean each and every person should come up with their own so-called currency just because it hurts their ego (and their butt as well) to follow a person's vision who actually showed us the path and asked us to walk on it? Maybe you should try and come up with some DeFi token, you might see it skyrocket to some unbelievable levels and then put down into the garbage but BTC has become history because Satoshi worked behind the scenes (and I believe s/he still works for it and is happy around any corner of this world s/he lives in), unlike others who are just trying to get fame for their work.

You mean everyone will create his own ? Are you sure someone will buy you coins created if ever you make one?

If you found that we have 8000 coins in the market doenst mean that you also need to make your own . It's nonses creating one if there is no use of it it's just a waste of energy and time at the same time you also need to use money to create which is doesn't have any real use cases and just another shit coins .

Sure create more crypto for everyone but what's the purpose?
Does those who belong in 8000 more who owns their coin have a value?
What's the use of creating your own crypto or coin if it wouldn't have any value at all?
You could see that there are already tons of worthless crypto around so why would we create more just for our own?

In my opinion, why do we have our own coins if we don't know the clear purpose and what are the benefits, even though having our own coins will still be focused on the parent (Bitcoin), and have a very high risk not only on price but enthusiasts. But your statement is very interesting.

They are the Most famous and successful coins that ever created.
Yeah that's More to Look at.
Wait !!!! "Everyone should have Coins"?  do you mean all of us must have our own coins? so meaning Billions of Coins will be created differently ?

I don't think this is a good idea mate, because who will support each coins ? Us?

If we ignore the part about creating ridiculous quantities of supply, there was a time where even some of the more technically astute people thought there might be a possibility that everyone would have their own individualised tokens.  I'm sure I remember Andreas Antonopoulos saying something along those lines once.  The notion does seem more than a little fanciful now, though.  Things just didn't evolve that way.

This is just one take on a hypothetical world where every single person has their own cryptocurrency, where each of us is responsible for the economics of our own time, our own credit, our own work, and our own reputation.

Even if this is completely off from any realistic scenario, I think it’s extraordinarily helpful to step outside of the repetitive conversations in this space and imagine new things.

I have my own coin, it's AssuredCoin. It must be amazingly valuable, because no coins have been issued or created yet.

Really oh... Lol You need to get us information on that,  how to get your wallpaper men... Sure you do a good valuable project.

You surely will have shut everywhere.  That is not even needed when there is decentralized  coin,  bitcoin.

and the point is that having the best quality will be our goal. and that is the high point at which all coins remain subject. Bitcoin is a freedom not subject to any party.

There is not enough "use cases" for all the millions of people around the world to have a coin for every person. It takes a lot of time and effort to develop your own Alt coin and then you have to influence other people to adopt your coin. This is not a easy thing to market for a new coin, so many people fail very quickly after they launched their new coin.

The people who you mentioned, all put in the knowledge and time and money to market their coins and they also pitched their coins to investors. (Some people tried to scam other people into believing that their coin was the "real" Bitcoin, but we will leave that there.)  ::)

It is impossible for everyone to create their own coin. Why would you even think of that in the first place? If everyone creates their own coin, who else would use the coin since the other person has his own?
Secondly, you should know that when supply is more than demand, the value of coins will drop and if this continues, the value will eventually drop ro zero which means that almost every coin created will be worthless.
Thirdly, Don't forget that the value of a coin is determine by supply and demand of the market and since everyone have their own coin, who then will demand and supply?

Create your own. I barely ever used any other fiat currency besides my local (RON), EUR and USD yet there are 180 currencies in the world. Yours would be even more useless than all those 173 have ever been for me, if you want an imaginable comparison.

There is no prevention for it, you are free to do so afterall the blockchain and the Internet is big for everyone. Just be ready to be the only one who would be using your coin.

But then, a coin is nothing without massive adaption or acceptance

Everything you say is absolutely true, it would be weird if everyone had their own crypto coins. That's a very strange thought, I never even thought
about it. Because who will buy our coins, if other people have their own coins. And will not run supply and demand, because there is no demand for
the coins we have. If every country has their own crypto coins I still understand a little, because those who will buy are their own citizens. So before
we share ideas with others, please think about them carefully.

First of all, only a few people in the world are capable of creating their own coin and most of them are not even aware of the existence of cryptocurrency. Everyone owning a coin? That's absurd. Who will support your coin if everyone thinks the same way as you? I guess promoting and persuading people to invest in your coin is the difficult part of having your own coin. If no one wants to invest then its value means nothing for a while. Lastly, there's no guarantee that it won't be able to compete against top-performing coins it will take more than years to compare.

What's the point of having your own coin when it doesn't even have a value or demand?
And also what would be the purpose of creating your own coin?
Each coin have their own platform or uses so if you would just create one it could be useless.

Well, even these days there are thousands of shit coins floating in the market. Some of shit coins are really dead and totally forgotten in crypto sphere. If everyone should have their own coins. What will be the face of crypto? I assume rampant scammers problems will become the trend due to huge volume of different coins created by everyone. Thanks, that majority doesn't have the ability to do so their own tokens.

We must all have our Own bitcoin because there is a soon demand for this , and surely Dominate the whole world currency in time.

Bitcoin is for Future and those mentioned above? lets see how they will stand long against bitcoin for another 10 years from now.

I think what OP is pertaining to is that we all should have our own coin and not bitcoin, though I agree with your statement, I don't see the connection to the topic. To OP, if everyone has their own coin, it doesn't necessarily mean that it will have a value like bitcoin because if everyone has their own coin then there will be a lot of competition and competition will mean lower prices.

If you have all that it entails you can go for it but I don't think it is that easy. Having your own coin does not stop you from having others like you saying you should only stick to what you are producing and not get from others.

But you already can … (but shouldn’t) :


Bitclout is a decentralized crypto social network, where every profile has its own token that gains or loses values on the platform. There are well known profiles such as Musk and Biever with their token up for sale. Slight problem: they did not create those accounts themselves, but rather were placed there as "reserved" accounts, should the real person want to join the platform (but let’s exploit the tokens associated to their names meantime).
 
Some of the platform’s "features":
-   Everyone can have their own "coin".
-   To Access the network, you need to pay (all payments are made with bitcoin).
-   To Access their support line you need to pay.
-   The tokens only have "value" within the platform, but no current market value outside.
-   If a profile is deleted, the token loses its value for all posessors.
-   You can't currently change any of those tokens for fiat, nor back to bitcoin.
-   The have allegedly moved around 160M$ worth of bitcoins through the platform.
-   There are reasonable doubts on how they secure the keys (to the tokens presumably).
-   There is no face Company behind, but rather an anonymous group.

Wonder what could go wrong there? but hey, everyone can have and trade their own "shitcoin" …

See: https://www.coindesk.com/what-is-bitclout-the-social-media-experiment-stoking-controversy-on-twitter

If you're capable of doing one then why not but you have to be sure that you'll notice the things that you have to consider. Getting the trust of investors and creating a good reputation is no joke so you have to make a concrete plan including the real function of your coin. There are lots of coins that are created by huge people before yet most of them have failed so you have to think well before proceeding to the next step.