Let us say there was hanky-panky involved, let us say somebody hacked the system or stole the digital money. At this time, digital currency flies beneath the radar as it isn’t recognized even with all of the new Too Big To Fail regulations on banks, etc.. How can a digital currency have value? Hard to say, how can a fancily printed piece of paper marked $20 be worth anything, it’s 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 confidence right?
Alright so, let us say that the authorities, FBI, or another branch of government complies and files charges – if they record criminal charges that someone defrauded someone else then how much defrauding was demanded? In the event the government enforcement and justice department put a dollar sum number to that, they’re inadvertently agreeing that the electronic currency is actual, and it’s a value, consequently, acknowledging it. When they don’t get involved, then some fraud that might or might not have occurred sets the entire notion back a ways, and the media will continue to drive down the trust of all electronic or crypto-currencies.
So, it’s a catch-22 for your authorities, authorities, and enforcement people, and they cannot look the other way or deny that this trend no more. Is it time for regulations. Well, I personally hate regulation, but is not this how it usually begins. Once it is regulated credibility is given to the concept, but his digital currency concept could also undermine the entire 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 global economy manage that degree of disturbance? Stay tuned, I guess we shall see.
In the meantime, what happens next will either break or make this new change in how we view monetary value, wealth, online transactions and the way the real world will mind-meld to our prospective blurred reality. I just 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 humankind that is. Please consider all this and consider it. Has what you have discovered added to your prior knowledge? crypto genius erfahrungen is a huge area with many additional sub-topics you can read about. We have discovered other folks think these points are helpful in their search. Sometimes it can be tough to get a clear picture until you discover more. If you are unsure about what is required for you, then just take a closer look at your particular situation. The rest of our talk will add more to what we have mentioned so far.
Bitcoin is farther away from being The numeraire; not just can it be simply 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 manages to replace the Dollar as the accepted ‘numeraire’, it can not possess an intrinsic measure like Gold has. Gold is unique in being quantified by a true, unchanging physical quantity. Gold is unique in storing worth for thousands of years. Nothing else in touch of humankind has this unique combination of qualities.
In Summary, while Bitcoin has A few advantages over Fiat, namely anonymity and decentralization, it fails in its own promise to being cash. Its advantages will also be questionable; the intent would be to restrict the ‘mining’ of Bitcoins into 26,000,000 units; this is , the ‘mining’ algorithm gets harder and harder to fix, then impossible after the 26 million Bitcoins are mined. Unfortunately, this announcement might well be the death knell of Bitcoin; currently, some central banks have declared that Bitcoins might become a ‘reservable’ currency.
Wow, sounds like a Significant step for Bitcoin, does it not? After all, the ‘large banks’ seem to be accepting the true value of this Bitcoin, no? What this actually means is banks recognize that they could trade Fiat for Bitcoins… and 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 by the US Fed alone. And, once the Bitcoins bought up and locked up at the Fed’s ‘wallet’… what useful purpose could they serve?
There would be no Bitcoins left in Circulation; a perfect corner. If there aren’t any Bitcoins in flow, how on Earth can they be used as a medium of exchange? And, what would the issuers of Bitcoin possibly do to defend against such a destiny? Change the algorithm and increase the 26 million into… 52 million? To 104 million? Join the Fiat printing parade? But then, from the quantity theory of money, Bitcoin would start to eliminate value, as Fiat allegedly loses value through ‘over-printing’…
We come into the key dilemma; why hunt For a ‘new money’ if we have the best money, Gold? Fear of Gold confiscation? Lack of anonymity in the intrusive government? Brutal taxation? Fiat money legal tender laws? Each the above. The answer isn’t in a new form of money, but in a new social arrangement, one without Fiat, without Government spying, without drones and swat teams… without IRS, border guards, TSA thugs… on and on. A huge liberty not tyranny. Once this is accomplished, Gold will resume its early and critical role as fair money… and not a moment before.
Rudy J. Fritsch was born in Hungary In 1947, also fled Socialist tyranny during the Hungarian Revolution of 1956. His family had lived through WWII and the resultant Hungarian hyperinflation, so he’s intimate experience with financial destruction.
As an engineer and entrepreneur, he Conducted a thriving family business in Canada for decades, at its peak employing over 100 workers, until economical upheaval destroyed the sustainability of North American manufacturing. Driven out of business, he decided to study economics… to detect the origin of this unhappy circumstance.
The halving takes effect when the Number of ‘Bitcoins’ given to miners following their successful development of the new block is cut in half. Thus, this phenomenon will cut the given ‘Bitcoins’ from 25 coins to 12.5. It’s not a new thing, however , it does have an enduring effect and it isn’t yet known whether it’s good or bad to ‘Bitcoin’.