What do you say to this? Ouch. Does this prove that the naysayers calling it a Ponzi Scheme were right? Do they get the last laugh, or is that just an expected evolutionary process of disturbance as all 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 electronic money. Right now, digital currency flies beneath the radar as it isn’t recognized even with all the new Too Big To Fail regulations on banks, etc.. How can a digital money 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 we all agree to that and have confidence in the money. What is the difference, it is a matter of trust 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 somebody else then how much defrauding was involved? If the government enforcement and justice department place a dollar sum number to that, they are inadvertently agreeing that the electronic currency is actual, and it has a value, thus, acknowledging it. If they don’t get involved, then some fraud which may or may not have occurred sets the entire concept back a ways, and the press will continue to drive down the confidence of all digital or crypto-currencies.
So, it is a catch-22 for the authorities, authorities, 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 starts. Once it’s regulated credibility is given to the concept, but his digital money theory could also undermine the entire One World Currency strategy or even the US Dollar (Petro-Dollar) paradigm, also there could be hell to pay for this as well. Can the international market handle that level of disruption? Stay tuned, I guess we will 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 how the actual world will mind-meld into our prospective blurred reality. I just don’t see many folks believing 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. The above really only just begins to scratch the surface of what is available concerning crypto genius erfahrungen. As always, though, much of what you decide you need is totally reliant on what you want to accomplish. Just be sure you pick those items that will serve your needs the most. The best strategy is to try to envision the effects each point could have on you. The remainder of this article will provide you with a few more very hot ideas about this.
Bitcoin is further away from being The numeraire; not just can it be a few, much as Fiat… but its value is measured in Fiat! Even if Bitcoin becomes internationally recognized as a medium of exchange, and even though it succeeds to replace the Dollar as the approved ‘numeraire’, it can never possess an intrinsic measure like Gold has. Gold is exceptional in being quantified by a real, unchanging physical quantity. Gold is unique in storing value for thousands of years. Nothing else in reach of humankind has this unique combination of qualities.
In Summary, while Bitcoin has Some advantages over Fiat, specifically anonymity and decentralization, it fails in its claim to being money. Its advantages are also questionable; the aim would be to restrict the ‘mining’ of Bitcoins into 26,000,000 units; that is , the ‘mining’ algorithm makes harder and harder to fix, 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 announced that Bitcoins might become a ‘reservable’ currency.
Wow, sounds like a Significant measure for Bitcoin, does it not? After all, the ‘large banks’ seem to be accepting the true value of the Bitcoin, no? This really means is banks recognize that they might trade Fiat to get Bitcoins… and also to really buy up the 26 million Bitcoins planned 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 bought up and locked up at the Fed’s ‘wallet’… what useful purpose would they serve?
There would be no Bitcoins left in Flow; a perfect corner. If there aren’t any Bitcoins in circulation, how on Earth can they be applied as a medium of trade? And, what would 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? Join the Fiat print parade? But then, from the quantity theory of money, Bitcoin would start to lose value, as Fiat allegedly loses value through ‘over-printing’…
We come to the key dilemma; why hunt To get a ‘new money’ if we already have the very best cash, Gold? Fear of Gold confiscation? Lack of anonymity from an intrusive government? Brutal taxation? Fiat money legal tender legislation? All the above. The solution is not in a new form of money, but at a new social arrangement, one without Fiat, without Government spying, without drones and swat teams… with no IRS, border guards, TSA thugs… on and on. A huge independence not tyranny. Once this is accomplished, Gold will resume its ancient and vital role as fair money… and not a moment before.
Rudy J. Fritsch was created in Hungary In 1947, and fled Socialist tyranny throughout the Hungarian Revolution of 1956. His family had lived through WWII and the consequent Hungarian hyperinflation, so he has intimate experience with financial destruction.
As an engineer and engineer, he Conducted a thriving family business in Canada for years, at its peak employing 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 cause of the unhappy circumstance.
The halving takes effect when the Number of ‘Bitcoins’ awarded to miners after their successful development of this new block is cut in half. Therefore, this phenomenon will reduce the awarded ‘Bitcoins’ out of 25 coins to 12.5. It is not a new thing, however it does have an enduring impact and it isn’t yet known if it is good or bad for ‘Bitcoin’.