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

[Adriano2010]

There will be hard for everyone to have own cryptocurrency because they will need to cashout, convert crypto to money and there will not be enough money to convert all crypto to money, and also will not be enough buyers to sell the coin.

[Sithara007]

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?

100% correct. Right now we have more than 10,000 altcoins and tokens in existence (this number includes forked coins). Most of them are not even listed in coinmarket.com and are not traded actively. If everyone produce their own coins, then the situation will not be much different. The vast majority will die out in a week or two.

[HereticalSmile]

If everyone produce their own coins, then the situation will not be much different. The vast majority will die out in a week or two.

Situation be very much different!  When everyone be work only with salary in own currency. Its easy.

Example. You want to hire a programmer. Buy on the exchange of its currency and then you will be able to hire him. Due to the fact that the exchange currency of the programmer will be in demand, for this reason, there will be a lot of exchangers that will be ready to change the currency of the programmer to the currency for which sellers will be ready to sell their goods. For the programmer and the seller it will be transparent. The programmer will pay his own currency. The seller will receive the one he would like to receive.

Exchangers will be part of the new institutional infrastructure that will take part of the credit business from banks. It is likely that some banks themselves will become members of this new Infrastructure

[Babylon]

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?

100% correct. Right now we have more than 10,000 altcoins and tokens in existence (this number includes forked coins). Most of them are not even listed in coinmarket.com and are not traded actively. If everyone produce their own coins, then the situation will not be much different. The vast majority will die out in a week or two.

Most of the altcoins are just trash. These developers keep on creating altcoins and advertising it like it does make sense for the people to buy but in the reality it is just a useless coin for the people to buy and once they get enough money from selling these altcoins, they will just leave it and add it to the collection of trash altcoins.

[Argoo]

"Each person who wants to have their own currency" will be a logical continuation of tokenization. People will not need banks to get loans. People will generate their own money. And this money, unlike Fiat money, will have a real value provided by human labor, energy, talent and other assets. The exchange of values between people will be provided through the Services of the Global New Infrastructure. Cryptocurrency exchanges today are just a primitive forerunner of this future Global Service.

If each of us will generate our own cryptocurrency, no one will need it and will not have any real value. Also, the cryptocurrency can not be provided by human energy, talent, labor, and so on. These are all abstract concepts that can not be related to the performance of means of payment. Cryptocurrency should have certain useful functions, then it will be in demand.

[usorin]

To many coins brings a negative effect on the market, brings chaos and destabilisation, every day would be created hundred of different coins.

[uzi]

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?

Hello! Still believe it is quite impossible for everyone to have their own currency, as there are people of different generations or even people, who don't have access to the Internet, don't have computers at all (as we speak about cryptocurrency).

So your question is more like surreal, to my mind.

As speaking of economics, I believe it won't be bad. The whole market won't go down as it includes different spheres, and cash money won't disappear either. It's like books and online books - people use both, as there are so many people with different tastes

[HereticalSmile]

As speaking of economics, I believe it won't be bad. The whole market won't go down as it includes different spheres, and cash money won't disappear either. It's like books and online books - people use both, as there are so many people with different tastes

Got a question. What are the known services or projects online who is engaged in such implementations? Are there those who are interested in taking part in such projects?

[bitbunnny]

I think that we already have too many coins. Only few of them have the potential to survive at the market. Although the competition is good the flood of different low potential coins will not do any positive change.
Still we have to understand the context and the moment when many thought cryptocurrencies are the way to get rich. But with time some kind of selection will happen and I think that only the best coins will survive and not so many new will appear.

[HereticalSmile]

I think that we already have too many coins. Only few of them have the potential to survive at the market. Although the competition is good the flood of different low potential coins will not do any positive change.
Still we have to understand the context and the moment when many thought cryptocurrencies are the way to get rich. But with time some kind of selection will happen and I think that only the best coins will survive and not so many new will appear.

In the topic of personal currencies, many mistakenly immediately recall the fact that now there are so many cryptocurrencies. It's a mistake. Many just currencies from questionable projects for the success or failure of which no one bears reputational losses. A person's personal currency will be provided by the real value of such abstraction as reputation. In order for your personal currency to have solvency, you will need to value your reputation and be able to generate or own values.

[senin]

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?

If everyone has their own cryptocurrency, no one will need it, except with the exception of some of your friends. In fact, money is a substitute for material values. This is an advanced bond receipt. In the case of a banknote, this is a receipt from the central bank of the state and it gives the right to a certain part of the material assets available in the state. With the advent of cryptocurrency, economic laws have not changed and continue to work further. For cryptocurrency to be in demand, you need to convince people that its value is equal to a certain part of material values ​​that have a certain price in ordinary currency. Who wants to exchange real values ​​for your cryptocurrency candy wrappers?

[qwertyup23]

Having their respective currency would destroy the economic and the financial sector as the difference in value would be prejudicial to countries who have their currency valued to be the lowest and the cheapest. Not to mention, this would also affect people who lacks such access to these currencies as they purely exist on the internet.

Think of it this way, if everyone has their respective currency, what would determine the value of each? How would the law of supply and demand work in this kind of dynamic in determining its prices? This would be subject to manipulation by people who has the power to purchase majority of the coins which would have the sole power to manipulate the prices.

To many coins brings a negative effect on the market, brings chaos and destabilisation, every day would be created hundred of different coins.

That is true. The more coins we make, the more we destroy the equilibrium and balance especially if we adapt these currencies as our own.

[HereticalSmile]

. Who wants to exchange real values ​​for your cryptocurrency candy wrappers?

On my candy wrappers (my currency) will want to change their values the one who then wants to buy from me what I will sell for their currency. This scheme is obviously inconvenient. Therefore, this scheme will introduce a decentralized or multi-intermediary-exchanger, within which one currency will be transparently changed to another and thus the final counterparties will use the currencies that they want. Issuers of their currencies will use their currencies in these transactions. Of course, they will ensure their own value by supplying their "assets" (goods, services) to the market and accepting their currency as payment. (From exchangers as their buyers, we remember, will use that currency which is pleasant to them.)

[senin]

I think that we already have too many coins. Only few of them have the potential to survive at the market. Although the competition is good the flood of different low potential coins will not do any positive change.
Still we have to understand the context and the moment when many thought cryptocurrencies are the way to get rich. But with time some kind of selection will happen and I think that only the best coins will survive and not so many new will appear.

In the topic of personal currencies, many mistakenly immediately recall the fact that now there are so many cryptocurrencies. It's a mistake. Many just currencies from questionable projects for the success or failure of which no one bears reputational losses. A person's personal currency will be provided by the real value of such abstraction as reputation. In order for your personal currency to have solvency, you will need to value your reputation and be able to generate or own values.

The human reputation in the world of money has no practical value. Money has always been a substitute for commodity values. Therefore, if a particular person does not have a finished product and his cryptocurrency does not give the right to own part of this product as a product that would be in demand, then no one will need his cryptocurrency.
As a result, I do not think that the presence of many cryptocurrencies will contribute to the development of the state economy. The level of development of the economy of each state depends entirely on other factors.

[Juliedarwin]

You have you're own money to build everything needs, and to pursue your cryptocurrency life..and why it will bad or why it will affect for economics? Yes we have a lot of coins to trade and we expected to received more than that as long as it will have a good value.

[Prettyme]

If everyone create their own currency and doesn't got a good features then it will be a dead coin, because the only one using it is only yourself, it is easy to create your own currency but it's hard to convince other to believe and used your coin, even if there are already people using your coin you still need to dedicate your time to make improvements and introduce your coin, so creating one coin won't make you less motivated

Yeah you're right. Everything will become useless if we have our own currency because you cannot use your own currency if they will accept it when use it to buy. And I think people will minimize the sins we did because popularly said money is the root of all evil. Imagine if we have our own currency we don't need to make fight others just because of money.

[Shadidalam1111]

Creating your own currency is easy, but making them become value is extremely hard. Bitcoin take 10 years to hit this current price. And how can you make your coin be valuable if you are just a regular person Wink Nobody will use your coin for any purpose

[LUCKMCFLY]

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?

Already today many new cryptocurrencies are coming out, but some have rushed in doing so, this has caused Libra de Facebook, since after having released this news it has caused a lot of controversy worldwide, because even countries have reacted, and it seems to them that even threaten their economies.

I think that the launch of any cryptocurrency will be beneficial for Bitcoin, because at the end of all, all Altcoins depend directly on Bitcoin, any cryptocurrency that is acquired knows that it can easily be taken to bitcoin and therefore to FIAT. I think that the altcoin with more strength, with more support will emerge, and those that do not have much strength will be forgotten, or will simply die.

[senin]

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 emergence of numerous useless cryptocurrencies will not be able to solve any problems in our real physical world. It is necessary to create either new technologies or material values that will serve new types of cryptocurrencies. Just creating new cryptocurrencies should not be an end in itself and is an absurd and useless occupation. If you created your cryptocurrency, nobody will need it and will not have any value.

[teosanru]

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.