what will happens if everyone has own currency, doesn't a bad for Economics ?

[Kong Hey Pakboy]

if everyone creates their own currency, so most of them will not sold in the market, because it's too easy to create their own currency and demand will not exist too. While the supply is very abundant, most of them will even hard to join the exchange, maybe people will move again to bitcoin or gold later.

If there is anything extra than necessary, it does not have a price. If everyone has their own currency, it will have a bad effect on the economy. When everyone has the currency, no one will pay the price and the currency will not be adequately valued.

In short the economy and market will be chaotic because there will be billions of coins listed and there is also billions of it having no price at all so it will be a disorganized market and then after quite some time those coins will eventually die and only those coins that is here in the market right now will be left so creating our very own coins will just consume time and effort because it will just eventually die

The market may be chaotic or a disaster because there will be no existing demand, while the supply will have large quantities if everyone has their own currency. I also think the division of rich and poor people will be gone because everyone has their currency that they can use to buy their necessities. But it would be unlikely to happen all of it because people will still be buying bitcoin if that happens.

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[glowing10]

if everyone creates their own currency, so most of them will not sold in the market, because it's too easy to create their own currency and demand will not exist too. While the supply is very abundant, most of them will even hard to join the exchange, maybe people will move again to bitcoin or gold later.

If there is anything extra than necessary, it does not have a price. If everyone has their own currency, it will have a bad effect on the economy. When everyone has the currency, no one will pay the price and the currency will not be adequately valued.

In short the economy and market will be chaotic because there will be billions of coins listed and there is also billions of it having no price at all so it will be a disorganized market and then after quite some time those coins will eventually die and only those coins that is here in the market right now will be left so creating our very own coins will just consume time and effort because it will just eventually die

It will have no value because value will be created when there is demand of your coin. So all will keep using their own currency and thus other you no one else will be buying your currency. In such case the you have supply but no demand so no point of such currency. Else it will not work and will not have any value.

[shoreno]

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?

yes same thoughts crypto adoption is coming and what if it gonna make a lot people wealthy

sounds nice but dont you like it if that happen ? but i dont think all are going to be rich because not all can do what others can do  and the world will be out of balance if there was no poor .

sure you can make your own coin with the help of blockchain and cryptos but that mainly exist in the digital world and not all that create a coin can be given a chance for their coin to be use for actual buying and selling , take example of those many altcoins and shitcoins . they didnt get listed and most of them got delisted  .

[Mauser]

I think each person creating their own currency is more of a collectible value than it is for exchange and real value in the economy.
Nobody cares about them and there is no guarantee they have a stable value.

It seems that currency has only the value what other people would give you for it. So valueing your own currency at 100$ doesn't as long as you don't find anybody to pay you that money. So a lot of different currencies could work, as long as there is a big exchange were you can trade all of them. And also it would be good if merchants would accept all these currencies.

[Smartprofit]

There have been periods in the history of mankind when private money prevailed, not public money. 

For example, in the Middle Ages, many influential feudal lords (earls and dukes) had the right to mint their own coins. 

Checks, bills of exchange, bonds - all these securities increase the money supply. 

These days, the time has come for digital money and cryptocurrencies.  Central banks are planning to issue digital money (CBDC).  Large corporations also want to get the right to issue their own money.  There are also decentralized cryptocurrencies with the PoW consensus algorithm. 

In the future, we may see an even greater variety of different types of money.

[PerfectCircle]

What kind of weird question is this OP? Presently every countries have their own currency I believe, so if every countries have their CBDC how will this affect the economy?  Things will continue to be the way they are, the only difference is just paper money to digital currency

[XZERO1]

at this point fiat money should not exist anymore

Unfortunately it's not that easy, if right now just the whole world start using crypto as payment and removes Fiat completely it would be a mess, we have less educated people that will have a very hard time using crypto, even if it's just for basic things like paying for stuff, that's why I believe all countries should be teaching basics about crypto in schools and start educating people from young age.

So basically the first step to worldwide adoption and maybe total removal of Fiat would be to have a schooling system that teaches crypto at least on basic level for a couple years, and only then we can hope that it works and doesn't create even more problems.

[angrynerd88]

In case our purposeful is to have a all inclusive worthy advanced money it is simple on the off chance that you're having a single coin which coin seem rule the complete showcase and i need bitcoin to be that coin because it can be utilized in each showcase and really don't require all these coins within the to begin with put, since this market is unused and it could be a enormous cash bovine everybody is attempting to drain the benefits and subsequently underestimating the whole scenario.

[hahay]

It is impossible for everyone to have their own currency because in fact, the existing currency is not based on an individual but a group or anything that regulates it which means it does not belong to one person. Besides, with so many different skills it is highly unlikely that this will happen and also, we only need to support what we believe is the best and not necessarily to generate our own currency.

[AndySt]

It is impossible for everyone to have their own currency because in fact, the existing currency is not based on an individual but a group or anything that regulates it which means it does not belong to one person. Besides, with so many different skills it is highly unlikely that this will happen and also, we only need to support what we believe is the best and not necessarily to generate our own currency.

This is not only poorly implemented purely technically, but also not rational and not effective, because the costs of mutual settlements between different people will be huge and still in the end there will be a process of crystallization and only the most necessary and resilient will remain. Decentralization is a great thing and one of the most popular modern trends, but like all phenomena, the process of decentralization has its limits.

[finaleshot2016]

Actually right now, we can have our own currency but who'll invest in it? who'll circulate the flow? how can it have value? If all of us are having the same agenda then it's not guaranteed that our own coin to have value.  So it's very impossible for everyone to have their own currency unless they have good agenda, people, and huge investors that are interested in your currency. In order to make these things possible, we also need high-level skills and have a great connection with big people in this industry.

[wiss19]

This has been one of the reasons why bitcoin and all other coins has been criticized so far and I am sick and tired of it. Why would anyone consider this as a problem I will never understand. First of all we are not going to have 8 billion tokens and coins, not "everyone" will have their coins, we are never going to reach there for sure.

Secondly we are talking about nearly over half of all the tokens and coins not cared at all, sure you can "create" it but that doesn't mean that others will have to care about it, they could totally ignore you and that is what happens for over half of them. The other half have very very low number at the bottom, and nearly half of them are ignoreable small unimportant ones, only the top 100-200 are the ones that make any sense, rest of them are useless.

Plus even if everyone one day has a token or a coin, if there is a rate and a way to exchange it to yours, why would anyone care? All nations have their own currency and that is not good neither, it doesn't work, fiat is useless, so have your own useless token if you want and as long as you can get it accepted that is fine too.

[pinggoki]

I don't understand what are you talking about. Currently, every country has their own currency or way of fiat money just for example in USA they have USD, Philippines have PHP or peso, Japan have Yen. Every country has their own currency and I think it doesn't have any effect to the economics. If what are you trying to say is that when everyone will be having a crypto currency what would happen? then probably there will be some dead coin just like what is happening here in the crypto, but still this will not be happen because cryptocurrency will be forever an alternative currency.

[TedMosby]

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?

and what's the problem when seeing unmotivated people?
also, people will still be motivated to make their crypto to be the most valuable cryptocurrency.
human nature, trying to be the blablabla they want.

let see a different perspective and assume people have their own cryptocurrency (and of course with value).
in this decentralized space, it's not a problem I think. people have their own crypto, easy to swap/exchange via dex.
however, I believe there will be one main currency (BTC/fiat) that they will still rely on as the pair for exchange.

[finaleshot2016]

I don't understand what are you talking about. Currently, every country has their own currency or way of fiat money just for example in USA they have USD, Philippines have PHP or peso, Japan have Yen. Every country has their own currency and I think it doesn't have any effect to the economics. If what are you trying to say is that when everyone will be having a crypto currency what would happen? then probably there will be some dead coin just like what is happening here in the crypto, but still this will not be happen because cryptocurrency will be forever an alternative currency.

I think he's referring to individuals having their own digital currency which is there's possibility that it might happen soon but prolly it'll just increase the number of assets that is not usable. I also doubt that it might happen in the future, it doesn't make sense. Even now we can make our own digital currency but we aren't doing it because it can't have value. I'm only seeing bitcoin as one of the potential cryptocurrency that can be paired to fiat, nothing else.

[AndySt]

I don't understand what are you talking about. Currently, every country has their own currency or way of fiat money just for example in USA they have USD, Philippines have PHP or peso, Japan have Yen. Every country has their own currency and I think it doesn't have any effect to the economics. If what are you trying to say is that when everyone will be having a crypto currency what would happen? then probably there will be some dead coin just like what is happening here in the crypto, but still this will not be happen because cryptocurrency will be forever an alternative currency.

I think he's referring to individuals having their own digital currency which is there's possibility that it might happen soon but prolly it'll just increase the number of assets that is not usable. I also doubt that it might happen in the future, it doesn't make sense. Even now we can make our own digital currency but we aren't doing it because it can't have value. I'm only seeing bitcoin as one of the potential cryptocurrency that can be paired to fiat, nothing else.

Why produce unnecessary entities that do not have the slightest potential for use? Recent history knows of cases when some famous people created cryptocurrencies in the name of themselves, but it did not lead to anything significant and after some revival in the beginning, everything faded in the end due to the lack of prospects for real application. What can I say if everyone will do such things.

[Argoo]

There have been periods in the history of mankind when private money prevailed, not public money. 

For example, in the Middle Ages, many influential feudal lords (earls and dukes) had the right to mint their own coins. 

Checks, bills of exchange, bonds - all these securities increase the money supply. 

These days, the time has come for digital money and cryptocurrencies.  Central banks are planning to issue digital money (CBDC).  Large corporations also want to get the right to issue their own money.  There are also decentralized cryptocurrencies with the PoW consensus algorithm. 

In the future, we may see an even greater variety of different types of money.

Private coins in the Middle Ages were minted mainly from gold and silver. They themselves already had value as a piece of valuable metal. The minting only indicated the person who issued the coin.
In our time of digital money, cryptocurrency must be in demand due to serving some kind of developing business or otherwise having a real product that will provide additional benefits and convenience to people.
Just creating your own cryptocurrency is stupid and useless, since no one will need such a cryptocurrency.

[Spaffin]

There is no doubt that governments in the future will follow the trend and create their own national cryptocurrencies. But it seems to me that everything will not happen as we expect and explaining its actions by the security of the state financial system and economy, the government will create its own blockchain and its own national cryptocurrency, and not use existing platforms. In this case, the question arises as to how safe it will be for users.

[Argoo]

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?

yes same thoughts crypto adoption is coming and what if it gonna make a lot people wealthy

No, if each individual creates their own cryptocurrency, this will not lead to an increase in wealth. It will simply be useless, without any cost or cost. Each cryptocurrency must fulfill some useful role, then it will have a demand and a price.
Only the creation of material values directly leads to the growth of wealth.

[Swopon]

Creating currency isn't a difficult task but creating it's demand will be harder. You need to make others believe that it has potential to stay in the market. Then market will decide whether it will continue with its demand or it will be dead. From my perception, if everyone creates own currency, no value will be provided from others.