As an engineer and engineer, he Conducted a successful family business in Canada for decades, in 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 origin of the unhappy circumstance.
The halving occurs when the Number of ‘Bitcoins’ awarded to miners following their successful development of the new block is cut in half. Therefore, this phenomenon will cut the awarded ‘Bitcoins’ out of 25 coins to 12.5. It is not a new thing, however , it does have an enduring effect and it isn’t yet known whether it is good or bad for ‘Bitcoin’.
Alright so, let us say that the regulators, FBI, or another branch of government complies and documents charges – should they file criminal charges that someone defrauded someone else then how much defrauding was involved? In the event the government enforcement and justice department put a dollar amount number to that, they’re inadvertently agreeing that the electronic currency is real, and it’s a value, consequently, acknowledging it. When they don’t get involved, then any fraud which might or might not have occurred sets the entire notion back a long way, and the press will continue to push down the trust of all electronic or crypto-currencies.
So, it’s a catch-22 for your authorities, authorities, and enforcement folks, and they cannot look another way or deny this trend any longer. Could it be time for regulations. Well, I personally hate regulation, but is not this how it usually starts. Once it is regulated credibility is given to the notion, but his electronic currency theory may also undermine the whole One World Currency plan or even the US Dollar (Petro-Dollar) paradigm, also there could be hell to pay for this as well. Can the global market manage that degree of disturbance? Stay tuned, I guess we will see.
In the meantime, what happens next will either make or break this new shift in how we view monetary value, riches, online transactions and how the real world will mind-meld into our future blurred reality. I just don’t see a lot of people believing here, but everyone 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. As we have just stated, crypto genius erfahrungen is something that cannot be ignored – or at least should never be ignored. It can be challenging to cover all possible examples simply because there is so much involved. So we feel this is just an ideal time to take a break and examine what has just been covered. This is the type of content that people need to know about, and we have no problems saying that. If you proceed, we know you will not be unhappy with what we have to offer in this article.
Bitcoin is further away from being The numeraire; not just can it be simply a number, much as Fiat… but its worth is quantified in Fiat! Even though 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 have an intrinsic measure like Gold has. Gold is exceptional in being quantified by a real, unchanging physical quantity. Gold is exceptional in preserving value for thousands of years. Nothing else in reach of humankind has this exceptional blend of attributes.
In conclusion, while Bitcoin has Some advantages over Fiat, specifically anonymity and decentralization, it fails in its own claim to being money. Its advantages are also questionable; the aim would be to limit the ‘mining’ of Bitcoins to 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, some central banks have declared that Bitcoins may become a ‘reservable’ currency.
Wow, sounds like a Significant measure for Bitcoin, does it not? After all, the ‘big banks’ seem to be accepting the legitimate value of this Bitcoin, no? This actually means is banks recognize that they could exchange Fiat for Bitcoins… and to actually buy up the 26 million Bitcoins planned 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 from the US Fed alone. And, once the Bitcoins purchased and locked up in the Fed’s ‘wallet’… what useful purpose could they serve?
There would be no Bitcoins left Flow; 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 destiny? Change the algorithm and increase the 26 million to… 52 million? To 104 million? Join the Fiat printing parade? But then, by the quantity theory of money, Bitcoin would start to eliminate value, as Fiat supposedly loses value throughout ‘over-printing’…
We come into the key issue; why search To get a ‘new money’ when we have the best cash, Gold? Fear of Gold confiscation? Lack of anonymity in the intrusive government? Brutal taxation? Fiat money legal tender laws? Each the above. The answer is not 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 independence not tyranny. Once this is achieved, 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 encounter with financial destruction.