As an engineer and entrepreneur, he Conducted a thriving family business in Canada for decades, in its peak employing over 100 workers, until economic upheaval destroyed the profitability of North American production. Driven out of business, he chose to study economics… to detect the cause of the unhappy circumstance.
The halving takes effect when the Amount of ‘Bitcoins’ awarded to miners following their successful development of this new block is cut in half. Therefore, this phenomenon will reduce the awarded ‘Bitcoins’ from 25 coins to 12.5. It is not a new thing, however it does have an enduring effect and it is not yet known whether it’s good or bad to ‘Bitcoin’.
Alright so, let us say that the authorities, FBI, or another branch of government complies and documents charges – if they file criminal charges that somebody defrauded somebody else then just how much defrauding was involved? 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 has a value, consequently, acknowledging it. When they don’t get involved, then some fraud that may or may not have happened sets the whole notion back a ways, and the press will continue to drive down the trust of all digital or crypto-currencies.
So, it’s a catch-22 for your government, regulators, 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 begins. Once it’s regulated credibility is given to the concept, but his digital money theory may also undermine the entire One World Currency strategy or even the US Dollar (Petro-Dollar) paradigm, and there could be hell to pay for this as well. Can the international market handle that level 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 see monetary value, wealth, online transactions and the way the real world will mind-meld into our future blurred reality. I just don’t see many people thinking here, but everyone should, one misstep and we could all be in a world of hurt – all of humanity that is. Please consider all of this and think on it. The above really only just starts to scratch the surface of what is offered concerning crypto genius erfahrungen. What I have found is it really just will depend on your goals and needs as it relates to your particular situation. The most innocuous details can sometimes hold the most crucial keys as well as the greatest power. The best approach is to try to envision the effects each point could have on you. But let’s keep going due to the fact we have some excellent tips for you to give considerable attention.
Bitcoin is farther away from being The numeraire; not just is it a few, much as Fiat… but its value is quantified in Fiat! Even if Bitcoin becomes internationally recognized as a medium of trade, and even though it manages to replace the Dollar as the accepted ‘numeraire’, it can never have an intrinsic measure like Gold has. Gold is unique in being quantified by a true, unchanging physical quantity. Gold is exceptional in storing value for thousands of years. Nothing else in touch of humanity has this exceptional combination of attributes.
In conclusion, while Bitcoin has A few advantages over Fiat, namely anonymity and decentralization, it fails in its own promise to being money. Its advantages will also be questionable; the intent is to restrict the ‘mining’ of Bitcoins to 26,000,000 units; that is the ‘mining’ algorithm makes harder and harder to solve, then hopeless after the 26 million Bitcoins are mined. Unfortunately, this statement could very well be the death knell of Bitcoin; already, some central banks have announced that Bitcoins may become a ‘reservable’ currency.
Wow, sounds like a Significant step for Bitcoin, does it not? After all, the ‘big banks’ appear to be accepting the true worth of the Bitcoin, no? What this actually means is banks realize that they might exchange Fiat to get Bitcoins… and to really 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 roughly 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 useful purpose could they serve?
There would be no Bitcoins left Flow; an ideal corner. If there are no Bitcoins in flow, how on Earth can they be used 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? Combine the Fiat print parade? But then, by the quantity theory of money, Bitcoin would begin to eliminate value, as Fiat supposedly loses value through ‘over-printing’…
We come into the key issue; why hunt To get a ‘new money’ when 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? Each of the above. The solution isn’t in a new form of cash, but at 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 world of liberty not tyranny. Once this is accomplished, Gold will restart its early and vital role as honest money… and not a moment before.
Rudy J. Fritsch was born 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 encounter with financial destruction.