An Easy Introduction to Bitcoin

Let’s say there was hanky-panky involved, let us say somebody hacked the system or stole the electronic money. Right now, digital currency flies under the radar since it is not recognized even with all of 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 is not, but it’s worth what it represents if we all agree to this and have confidence in the money. What is the difference, it’s an issue of trust right?

Alright so, let’s say that the authorities, FBI, or another branch of government interferes and files charges – if they file criminal charges that someone defrauded somebody else then just how much defrauding was demanded? If the government law and justice department put a dollar sum number to this, they are inadvertently agreeing that the electronic currency is actual, and it’s a value, consequently, acknowledging it. If they don’t get involved, then some fraud that might or might not have happened sets the entire notion back a ways, and the media will continue to push down the confidence 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. Is it time for regulations. Well, I personally despise regulation, but is not this how it usually starts. Once it is controlled credibility is given to the concept, but his digital currency theory may 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 international economy manage 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 price, wealth, online transactions and the way the real world will mind-meld into our prospective blurred reality. I simply don’t see a lot of folks thinking here, but everybody should, one misstep and we could all be in a world of hurt – all of humankind that is. Please consider all this and consider it. So you can see that crypto genius erfahrungen is a topic that you have to be mindful when you are finding out about it. As always, though, much of what you decide you need is totally dependent on what you want to achieve. There are possibly more than a few particulars you have to pay close attention to on your side. The best strategy is to try to imagine the effects each point could have on you. The remainder of this article will provide you with a few more very hot tips about this.

Bitcoin is further away from being The numeraire; not only can it be a number, much as Fiat… but its worth is quantified in Fiat! Even if Bitcoin becomes internationally recognized as a medium of trade, and even if it manages to replace the Dollar as the accepted ‘numeraire’, it can never possess an intrinsic measure like Gold has. Gold is unique in being measured by a real, unchanging physical quantity. Gold is unique in preserving value for thousands of years. Nothing else in reach of humankind has this exceptional combination of attributes.

In Summary, while Bitcoin has Some advantages over Fiat, namely anonymity and decentralization, it fails in its promise to being cash. Its advantages are also questionable; the aim would be to restrict the ‘mining’ of Bitcoins to 26,000,000 units; that is , the ‘mining’ algorithm gets harder and harder to solve, then hopeless after the 26 million Bitcoins are mined. Unfortunately, this announcement could very well be the death knell of Bitcoin; currently, a few central banks have announced that Bitcoins may become a ‘reservable’ currency.

Wow, sounds like a Significant measure for Bitcoin, does it not? After all, the ‘big banks’ appear to be accepting the legitimate worth of the Bitcoin, no? What this really means is banks recognize that they might trade Fiat for Bitcoins… and to actually buy up the 26 million Bitcoins projected would cost a meagre 26 Billion Fiat Dollars. Twenty six billion Dollars is not even modest change to the Fiat printers; it is about a week’s worth of printing by the US Fed alone. And, once the Bitcoins bought up and locked up at the Fed’s ‘wallet’… what practical purpose would they serve?

There would be no Bitcoins left Circulation; an ideal corner. If there aren’t any Bitcoins in flow, how on Earth can they be used as a medium of trade? And, what could the issuers of Bitcoin possibly do to defend against such a fate? Change the algorithm and boost the 26 million to… 52 million? To 104 million? Join the Fiat printing parade? But , from the quantity theory of money, Bitcoin would begin to eliminate value, as Fiat allegedly loses value throughout ‘over-printing’…

We come into the main issue; why search To get a ‘new money’ if we have the best money, Gold? Fear of Gold confiscation? Deficiency of anonymity from an intrusive government? Brutal taxation? Fiat money legal tender legislation? All of the above. The solution is not in a new sort of cash, but in 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 world of independence not tyranny. Once this is accomplished, Gold will restart its early 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 resultant Hungarian hyperinflation, thus he’s intimate experience with financial destruction.

As an engineer and engineer, he Conducted a thriving family business in Canada for years, in its peak using over 100 workers, until economical upheaval destroyed the profitability of North American production. Driven out of business, he decided to study economics… to detect the origin of this unhappy circumstance.

The halving occurs when the Amount of ‘Bitcoins’ awarded to miners after their successful creation of the new block is cut in half. Thus, this phenomenon will cut the awarded ‘Bitcoins’ from 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’s good or bad for ‘Bitcoin’.

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