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RE: In The Future, Everybody Will Have Their Own Cryptocurrency
I have thought about it some more. How would a person be tied to their altcoin? As I understand it, it would be possible for people to simply invest all of their net worth in another individual. For example, if Zuma sees that things might be going south for him, he could simply trade out all of his Zumacoin capital for something more stable (or even lucrative), say Zuckerbergcoins. This system could still work for upstanding citizens who believe in their own abilities (and are able to convince others of their abilities), but on the other end of the spectrum I think it fails. It becomes more about investing in the right people, rather than being a good person yourself.
Yeah, but that's from the perspective of expecting all these altcoins to moon. It's most likely these coins are infrequently traded, with floor price being maintained by the automated market maker in the decentralised exchange on Steem. I guess the important point is that one has the chance to build something beyond the initial $1 required to start off their own token economy.