What do you say to that? Ouch. Does this prove that the naysayers calling it a Ponzi Scheme were right? Do they get the last laugh, or is that only an expected evolutionary process of disturbance as all of the kinks are worked out? Well, consider this thought experiment I’d.
Let us say there was hanky-panky involved, let us say somebody hacked the system or stole the digital currency. At this time, digital currency flies under the radar since it is not recognized even with all the new Too Big To Fail regulations on banks, etc.. How can a digital currency have worth? Hard 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 currency. What is the difference, it’s a matter of trust right?
Okay so, let us say that the authorities, FBI, or another branch of government interferes and files charges – if they file criminal charges that someone defrauded someone else then how much defrauding was demanded? In the event the government enforcement and justice department place a dollar amount number to this, they are inadvertently agreeing that the digital currency is real, and it’s a value, thus, acknowledging it. If they don’t get involved, then some fraud that may or may not have happened sets the entire concept back a ways, and the media will continue to drive down the trust of all digital or crypto-currencies.
So, it is a catch-22 for the government, authorities, and enforcement people, and they cannot look another way or deny that this trend any longer. Could it be time for regulations. Well, I personally hate regulation, but isn’t this how it usually begins. Once it’s regulated credibility is given to the concept, but his digital money concept could also undermine the entire One World Currency plan or perhaps the US Dollar (Petro-Dollar) paradigm, also there might be hell to pay for this as well. Can the global economy handle that degree of disruption? Stay tuned, I guess we shall see.
In the meantime, what happens next will either make or break this new shift in how we see monetary price, wealth, online transactions and the way the real world will mind-meld into our future blurred reality. I just don’t see a lot of people thinking here, but everybody should, one misstep and we could all be in a world of hurt – all of humanity that is. Please think about all of this and think on it. As we have just stated, crypto genius erfahrungen is something that cannot be ignored – or at least should never be ignored. We do recognize very well that your situation is vital and matters a great deal. There is a lot, we know, and that is the reason why we are taking a very short break to say a few words about this. We are highly confident about the ability of what we offer, today, to make a difference. The last outstanding areas for discussion may be even more important.
Bitcoin is further away from being The numeraire; not only is it a few, much as Fiat… but its value is measured in Fiat! Even though Bitcoin becomes internationally accepted as a medium of exchange, and even if it succeeds to replace the Dollar as the approved ‘numeraire’, it can not have an intrinsic measure like Gold has. Gold is unique in being quantified by a true, unchanging physical quantity. Gold is exceptional in preserving value for thousands of years. Nothing else in touch of humanity has this unique combination of attributes.
In conclusion, while Bitcoin has Some advantages over Fiat, namely anonymity and decentralization, it fails in its own promise to being money. Its advantages are also questionable; the aim is to limit the ‘mining’ of Bitcoins into 26,000,000 units; this is , the ‘mining’ algorithm gets harder and harder to solve, then impossible following the 26 million Bitcoins are mined. Unfortunately, this statement could very well be the death knell of Bitcoin; currently, a few central banks have announced that Bitcoins might become a ‘reservable’ currency.
Wow, sounds like a major measure for Bitcoin, does it not? After all, the ‘large banks’ seem to be accepting the legitimate value of the Bitcoin, no? This actually means is banks recognize that they might trade Fiat for Bitcoins… and also to actually buy up the 26 million Bitcoins planned would cost a meagre 26 Billion Fiat Dollars. Twenty six billion Dollars is not even small change to the Fiat printers; it’s about a week’s worth of printing from the US Fed alone. And, once the Bitcoins bought up and locked up in the Fed’s ‘wallet’… what practical purpose would they serve?
There would be no Bitcoins left in Circulation; an ideal corner. If there are no Bitcoins in flow, how on Earth can they be applied as a medium of exchange? And, what would the issuers of Bitcoin potentially 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 then, by the quantity theory of money, Bitcoin would begin to eliminate value, as Fiat supposedly loses value throughout ‘over-printing’…
We come to the main dilemma; why search For 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 answer isn’t in a new form of money, but in a new social structure, one without Fiat, with no Government spying, without drones and swat teams… without IRS, border guards, TSA thugs… on and on. A world of independence not tyranny. Once this is accomplished, Gold will restart its early and vital role as fair money… and not a minute before.
Rudy J. Fritsch was created in Hungary In 1947, also fled Socialist tyranny during the Hungarian Revolution of 1956. His family had lived through WWII and the consequent Hungarian hyperinflation, thus he’s intimate experience with financial devastation.
As an engineer and entrepreneur, he Ran a thriving family business in Canada for years, in its peak using over 100 workers, until economic upheaval destroyed the profitability of North American manufacturing. Driven out of business, he decided to study economics… to discover the cause of this unhappy circumstance.
The halving occurs when the Amount of ‘Bitcoins’ given to miners after their successful development of this new block is cut in half. Thus, this phenomenon will cut the given ‘Bitcoins’ out of 25 coins to 12.5. It’s not a new thing, however , it does have an enduring impact and it is not yet known whether it is good or bad to ‘Bitcoin’.