As an engineer and entrepreneur, he Ran a successful family business in Canada for years, in its peak employing over 100 workers, until economic upheaval ruined the sustainability of North American production. Driven from business, he chose to study economics… to detect the origin of the unhappy circumstance.
The halving occurs when the Number of ‘Bitcoins’ awarded to miners after their successful creation of this new block is cut in half. Thus, this phenomenon will reduce the given ‘Bitcoins’ out of 25 coins to 12.5. It is not a new thing, however it does have a lasting impact and it isn’t yet known if it’s good or bad to ‘Bitcoin’.
Alright so, let’s say that the authorities, FBI, or another branch of government complies and documents charges – if they file criminal charges that someone defrauded somebody else then just how much defrauding was involved? In the event the government law and justice department put a dollar amount number to that, they’re inadvertently agreeing that the electronic currency is real, and it has a value, consequently, acknowledging it. If they don’t get involved, then any fraud that might or might not have occurred sets the entire concept back a long way, and the media will continue to push down the trust of all electronic or crypto-currencies.
So, it is a catch-22 for your government, authorities, and enforcement folks, and they cannot look the other 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’s regulated credibility is given to the notion, but his electronic money concept may also undermine the whole One World Currency plan or even the US Dollar (Petro-Dollar) paradigm, also there might be hell to pay for that as well. Can the global market manage that level of disturbance? 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, riches, online transactions and the way the actual 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 can all be in a world of hurt – all of humanity that is. Please think about all this and consider it. Compelling stuff, we think – what are your thoughts? There is a great deal within the body of knowledge surrounding crypto genius erfahrungen. We have found other folks think these points are helpful in their search. You should be careful about making too many assumptions until the big picture is a lot more clear. Do you know precisely the kind of information that will help? If not, then you should learn more about this.
The concluding talk will solidify what we have revealed to you up to this point.
Bitcoin is further away from being The numeraire; not only is it a number, much as Fiat… but its value is measured in Fiat! Even though Bitcoin becomes internationally accepted as a medium of trade, and even though it manages 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 preserving value for thousands of years. Nothing else in touch of humanity 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 claim to being money. Its advantages will also be questionable; the intent would be to limit 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 statement could very well be the death knell of Bitcoin; already, 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 ‘large banks’ appear to be accepting the legitimate value of this Bitcoin, no? This really means is banks realize that they could 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 by the US Fed alone. And, once the Bitcoins purchased and locked up in the Fed’s ‘wallet’… what practical purpose could they serve?
There would be no Bitcoins left Circulation; a perfect corner. If there aren’t any Bitcoins in circulation, how on Earth can they be used as a medium of trade? And, what could the issuers of Bitcoin potentially do to defend against such a destiny? Change the algorithm and boost the 26 million into… 52 million? To 104 million? Join the Fiat print parade? But then, by the quantity theory of money, Bitcoin would start to lose value, as Fiat allegedly loses value through ‘over-printing’…
We come into the main dilemma; why hunt 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 legislation? Each of the above. The solution is not in a new form of money, but in a new social arrangement, one without Fiat, with no Government spying, without drones and swat teams… with no IRS, border guards, TSA thugs… on and on. A huge liberty not tyranny. Once this is achieved, Gold will resume its early and vital role as honest 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, thus he has intimate experience with financial destruction.