What do you say to that? Ouch. Does this prove that the naysayers calling it a Ponzi Scheme were ideal? Can they get the last laugh, or is that just an expected evolutionary process of disruption as all of the kinks are worked out? Well, consider this thought experiment I’d.
Let’s say there was hanky-panky involved, let’s say someone hacked the system or stole the digital currency. At this time, digital money flies under the radar since it isn’t recognized even with all the newest Too Big To Fail regulations on banks, etc.. How can a digital currency have worth? Difficult to say, how can a fancily printed piece of paper marked $20 be worth anything, it’s not, but it’s worth what it represents if we all agree to this and have trust in the money. What is the difference, it’s a matter of trust right?
Okay so, let us say that the regulators, FBI, or another branch of government interferes and files charges – should they file criminal charges that somebody defrauded somebody else then how much defrauding was demanded? If the government enforcement and justice department put a dollar sum number to this, they are inadvertently agreeing that the digital money is real, and it has a value, consequently, acknowledging it. When they don’t get involved, then some fraud that might or might not have occurred sets the whole concept back a long way, and the media will continue to drive down the trust of all electronic or crypto-currencies.
So, it’s a catch-22 for your government, regulators, and enforcement people, and they cannot look another way or deny that this trend any longer. Is it time for regulations. Well, I personally hate regulation, but is not this how it usually begins. Once it is controlled credibility is given to the concept, but his electronic money theory could also undermine the whole One World Currency strategy or even the US Dollar (Petro-Dollar) paradigm, and there might be hell to pay for that as well. Can the global market handle that degree of disruption? Stay tuned, I guess we will see.
In the meantime, what happens next will either break or make this new shift in how we see monetary value, wealth, online transactions and the way the actual world will mind-meld to our prospective blurred reality. I simply don’t see many folks thinking here, but everyone needs to, 1 misstep and we could all be in a world of hurt – all of humanity that is. Please consider all of this and consider it. Compelling stuff, we think – what are your impressions? You may already have thought that crypto genius erfahrungen is a vast field with much to discover. Yes, it is true that so many find this and other related subjects to be of fantastic value. Sometimes it can be tough to get a distinct picture until you discover more. It is always a good idea to determine what your situations call for, and then go from that point.
The concluding talk will solidify what we have uncovered to you up to this point.
Bitcoin is farther away from being The numeraire; not just is it simply a few, much as Fiat… but its value is quantified in Fiat! Even if Bitcoin becomes internationally recognized as a medium of exchange, and even though it manages to replace the Dollar as the accepted ‘numeraire’, it can never have an intrinsic measure like Gold has. Gold is exceptional in being measured by a true, unchanging physical quantity. Gold is unique in storing value for thousands of years. Nothing else in reach of humankind has this exceptional combination of attributes.
In conclusion, while Bitcoin has A few advantages over Fiat, specifically anonymity and decentralization, it fails in its claim to being money. Its advantages will also be questionable; the aim is to restrict the ‘mining’ of Bitcoins to 26,000,000 units; this is , the ‘mining’ algorithm makes harder and harder to solve, then hopeless following the 26 million Bitcoins are mined. Unfortunately, this announcement might well be the death knell of Bitcoin; already, a few central banks have declared that Bitcoins might become a ‘reservable’ currency.
Wow, sounds like a major step for Bitcoin, does it not? After all, the ‘large banks’ seem to be accepting the true worth of the Bitcoin, no? This really means is banks recognize that they could trade Fiat for Bitcoins… and also to really buy up the 26 million Bitcoins projected would cost a meagre 26 Billion Fiat Dollars. Twenty six billion Dollars isn’t even modest change to the Fiat printers; it is roughly a week’s worth of printing from the US Fed alone. And, once the Bitcoins purchased and locked up at the Fed’s ‘wallet’… what practical purpose could they serve?
There would be no Bitcoins left in Flow; an ideal corner. If there aren’t any Bitcoins in circulation, how on Earth could they be applied as a medium of trade? And, what could the issuers of Bitcoin possibly do to defend against such a destiny? Change the algorithm and boost the 26 million into… 52 million? To 104 million? Join the Fiat print parade? But , from the quantity theory of money, Bitcoin would start to lose value, as Fiat supposedly loses value throughout ‘over-printing’…
We come into the main issue; why search To get a ‘new money’ when we have the very best money, Gold? Fear of Gold confiscation? Lack of anonymity in the intrusive government? Brutal taxation? Fiat money legal tender laws? Each of the above. The solution isn’t in a new sort of cash, but at a new social arrangement, one without Fiat, with no Government spying, without drones and swat teams… without IRS, border guards, TSA thugs… on and on. A world of liberty not tyranny. Once this is accomplished, Gold will restart its ancient and vital role as fair money… and not a minute before.
Rudy J. Fritsch was born in Hungary In 1947, and fled Socialist tyranny during the Hungarian Revolution of 1956. His family had lived through WWII and the resultant Hungarian hyperinflation, so he’s intimate encounter with financial devastation.
As an engineer and engineer, he Ran a thriving family business in Canada for years, at its peak using over 100 workers, until economical upheaval ruined the profitability of North American production. Driven out of business, he decided to study economics… to discover the origin of the unhappy circumstance.
The halving occurs when the Number of ‘Bitcoins’ awarded to miners after their successful development of the new block is cut in half. Therefore, this phenomenon will cut the given ‘Bitcoins’ out of 25 coins to 12.5. It is not a new thing, however , it does have a lasting impact and it is not yet known if it’s good or bad for ‘Bitcoin’.