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Author Topic: what will happens if everyone has own currency, doesn't a bad for Economics ?  (Read 20680 times)
doomloop
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October 20, 2019, 06:56:35 PM
 #241

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.
Bitcoin will soon be recognized legally a universal currency and a mode of investment as well. But we have to admit this fact that bitcoin is at the moment used as international currency but in certain countries is not just officially recognized. The way users of bitcoin are increasing and platforms regarding exchanges of crypto currencies are getting common. 

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November 24, 2019, 07:56:10 PM
 #242

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.
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November 25, 2019, 11:25:52 AM
 #243

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.

 
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December 25, 2019, 03:26:24 PM
 #244

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.
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December 26, 2019, 03:10:42 PM
 #245

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.
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December 27, 2019, 10:53:58 AM
 #246

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


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December 27, 2019, 11:42:34 AM
 #247

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




It 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.

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December 27, 2019, 11:59:56 AM
 #248

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.

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December 27, 2019, 12:15:45 PM
 #249

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.

 
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December 27, 2019, 12:49:08 PM
 #250

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.
It's not that they will get annoyed because of many options, the thing js everyone has their own currency meaning that they will not be focusing on other currency but theirs so that they can increase its value but what the first reply have said is true, it won't have much investors that can help it increase its value so it's useless and cause lots of problems to economics.



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December 27, 2019, 01:39:22 PM
 #251

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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eaLiTy
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December 27, 2019, 02:42:24 PM
 #252

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.
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December 28, 2019, 08:47:15 AM
 #253

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.

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December 28, 2019, 09:16:19 PM
 #254

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.
Yes people are earning so much money from bitcoin because bitcoin is the best investment and there is a huge profit in bitcoin holding. Blockchain gives security to bitcoin holders and it’s the only thing which makes bitcoin price and demand improving more and more. Increasing demand will rise the use of bitcoin.
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December 28, 2019, 09:48:46 PM
 #255

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?
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December 29, 2019, 06:47:32 AM
 #256

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.
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December 29, 2019, 07:41:57 AM
 #257

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.

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December 30, 2019, 12:23:19 PM
 #258

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.
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December 30, 2019, 02:25:20 PM
 #259

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.
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December 30, 2019, 02:29:20 PM
 #260

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




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