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Author Topic: what will happens if everyone has own currency, doesn't a bad for Economics ?  (Read 12196 times)
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February 27, 2019, 09:28:46 PM
 #201

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.

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February 28, 2019, 07:40:03 AM
 #202

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

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February 28, 2019, 05:34:46 PM
 #203

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.
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February 28, 2019, 05:55:55 PM
 #204

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.
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March 01, 2019, 02:33:33 AM
 #205

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.
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March 01, 2019, 07:43:08 AM
 #206

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

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March 01, 2019, 07:10:01 PM
 #207

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.

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March 01, 2019, 07:37:16 PM
 #208

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.
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March 01, 2019, 10:28:24 PM
 #209

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.''

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March 02, 2019, 09:46:56 AM
 #210

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.

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March 02, 2019, 10:36:05 AM
Last edit: March 02, 2019, 11:05:52 AM by Ucy
 #211

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 .



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March 02, 2019, 10:59:12 AM
 #212

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
And maybe there will be chaos? because there are millions of currencies in circulation, and of course a lot of currencies will be useless. we will save a lot of currencies on our pocket, and we don't know what's in it and the benefit of each currency? this idea is very crazy

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March 15, 2019, 06:09:47 AM
 #213

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 do not see any sense for everyone to release their own cryptocurrency. The meaning of money is not in their availability, but in what they provide and how they are provided. If you just release your cryptocurrency, without real features and product, these will be useless badges without any cost. Better not to do it. There are so many useless cryptocurrencies on the market now.

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March 15, 2019, 10:09:46 AM
 #214

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 don't think that it is good idea, if everyone create his own currency then the value of coins will be damage, people will be confused which coin is best and which coin is trust able. It is useless of coins.
Everything is useful when it gives to the people benefits and if number of coins are increased day by day, then they can't give us benefit to the people.

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March 21, 2019, 12:04:16 AM
 #215

i think inflation will attack crypto, but i dont know how. it happen when crypto have same value, i mean they have same price, no pump dump for each coin.
the best think is when some people have it, and some people dont have. some people produce, issue coin and some people buy and use it as transaction or the other think. they have balance between users and makers

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March 21, 2019, 12:14:54 AM
 #216

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?
then there will be no trade, if everyone has their own currency. because all money will be of no value and the business world will be destroyed. then events like this must be prevented so that the world will not be damaged. hence the creation of a currency is given certain limits and conditions and not every individual can make it freely.

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March 21, 2019, 12:59:24 AM
 #217

bad, because the country will find it difficult to balance the economy. if everyone has their own currency and has its own exchange rate, the country's economy will occur inequality.
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March 21, 2019, 06:19:25 AM
 #218

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?
then there will be no trade, if everyone has their own currency. because all money will be of no value and the business world will be destroyed. then events like this must be prevented so that the world will not be damaged. hence the creation of a currency is given certain limits and conditions and not every individual can make it freely.
of course there will be a large screening, because at this time only coins that have no potential to be abandoned and become rubbish, cannot be imagined if everyone has their own coins, of course this is something bad

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March 21, 2019, 08:56:45 AM
 #219

It's maybe happens in future but the question is if everyone have their own currency then it's creates a big damage on economics, yes it's also have some positive things but i think it's creates negative impact more than positive.
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March 21, 2019, 09:29:31 AM
 #220

That's so, so silly to imagine everyone has their own currency, any idea here? For this reason no one would be able to exchange it and it's like analogue of not existing of money and we all had our goods to exchange in somethings which would cause chaos and that's why we have unique thing (in this situation money) which is acceptable for everyone.
Btw current economy isn't good and banking system is absolutely shit + there are some people who have so much money which they don't need to use and will never able to spend so much but still they have it frozen, don't spend it. Money has to be in circulation and in people, not in one man's hands.

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