What do you say to this? Ouch. Does this demonstrate that the naysayers calling it a Ponzi Scheme were ideal? Can they get the last laugh, or is this only an expected evolutionary process of disturbance as all the kinks are worked out? Well, consider this thought experiment I’d.
Let us say there was hanky-panky involved, let’s say someone hacked the system or stole the digital money. Right now, digital money flies under the radar as it is not recognized even with all the new Too Big To Fail regulations on banks, etc.. How can a digital money have worth? Difficult to say, how can a fancily printed piece of paper marked $20 be worth anything, it is not, but it’s worth what it signifies if most of us agree to that and have trust in the money. What’s the difference, it’s a matter of confidence right?
Okay so, let’s say that the authorities, FBI, or another branch of government interferes and documents charges – if they record criminal charges that someone defrauded someone else then just how much defrauding was involved? In the event the government law and justice department place a dollar amount number to that, they’re inadvertently agreeing that the digital currency is real, and it’s a value, consequently, acknowledging it. When they don’t get involved, then some fraud that may or may not have occurred sets the entire concept back a ways, and the media will continue to push down the confidence of all electronic or crypto-currencies.
So, it’s a catch-22 for the authorities, authorities, and enforcement folks, and they cannot look the other way or deny this trend no more. Could it be time for regulations. Well, I personally hate regulation, but isn’t this how it usually starts. Once it is regulated credibility is given to the concept, but his electronic currency theory could also undermine the whole One World Currency plan or perhaps the US Dollar (Petro-Dollar) paradigm, and there might be hell to pay for this as well. Can the international economy manage that level of disturbance? Stay tuned, I guess we will see.
In the meantime, what happens next will either break or make this new change in how we view monetary value, riches, online transactions and how the actual world will mind-meld into our future blurred reality. I simply don’t see a lot of people thinking here, but everybody should, 1 misstep and we could all be in a world of hurt – all of humanity that is. Please consider all this and think on it. Well, just what do you feel about that so far? crypto genius erfahrungen is an area that provides a tremendous amount for those who are interested or need to learn. It is really similar to other related topics that are important to people. Continue reading and you will see what we mean about crucial nuances you need to know about. Try evaluating your own unique requirements which will help you even more refine what may be necessary.
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 can it be simply a few, much as Fiat… but its worth is quantified in Fiat! Even if Bitcoin becomes internationally recognized as a medium of trade, and even though it succeeds to replace the Dollar as the approved ‘numeraire’, it can never have an intrinsic measure like Gold has. Gold is unique in being measured by a real, unchanging physical quantity. Gold is exceptional in preserving worth for thousands of years. Nothing else in reach of humankind has this exceptional blend of qualities.
In Summary, while Bitcoin has Some advantages over Fiat, specifically anonymity and decentralization, it fails in its promise to being money. Its advantages are also questionable; the intent is to restrict the ‘mining’ of Bitcoins into 26,000,000 units; this is , the ‘mining’ algorithm gets 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; currently, 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’ appear to be accepting the true worth of this Bitcoin, no? This actually means is banks recognize that they could exchange Fiat to get 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 small change to the Fiat printers; it is about 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 would they serve?
There would be no Bitcoins left 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 potentially do to defend against such a fate? Change the algorithm and boost the 26 million to… 52 million? To 104 million? Combine the Fiat printing parade? But then, by the quantity theory of money, Bitcoin would begin to lose value, as Fiat supposedly loses value throughout ‘over-printing’…
We come into the main issue; why search To get a ‘new money’ if we have the very best cash, Gold? Fear of Gold confiscation? Deficiency of anonymity in the intrusive government? Brutal taxation? Fiat money legal tender legislation? All of the above. The solution is not in a new form of money, but at a new social structure, one without Fiat, without 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 achieved, Gold will restart its early and critical role as fair money… and not a moment before.
Rudy J. Fritsch was created 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, thus he’s intimate encounter with financial devastation.
As an engineer and entrepreneur, he Conducted a thriving family business in Canada for years, at its peak using over 100 workers, until economic upheaval ruined the sustainability of North American manufacturing. Driven out of business, he chose to study economics… to detect the cause of this unhappy circumstance.
The halving takes effect when the Amount of ‘Bitcoins’ awarded to miners after their successful development of the new block is cut in half. Thus, 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 effect and it is not yet known whether it is good or bad to ‘Bitcoin’.