As an engineer and entrepreneur, he Conducted a thriving family business in Canada for years, in its peak employing over 100 workers, until economical upheaval ruined the sustainability of North American manufacturing. Driven from business, he decided to study economics… to discover the cause of this unhappy circumstance.
The halving occurs when the Number of ‘Bitcoins’ awarded to miners following their successful creation of this new block is cut in half. Thus, this phenomenon will cut the awarded ‘Bitcoins’ out of 25 coins to 12.5. It’s not a new thing, however , it does have a lasting effect and it isn’t yet known if it is good or bad to ‘Bitcoin’.
Alright so, let’s say that the authorities, FBI, or another branch of government complies and documents charges – should they record criminal charges that somebody defrauded someone else then just how much defrauding was involved? If the government law and justice department put a dollar sum number to this, they’re inadvertently agreeing that the digital currency is actual, and it has a value, thus, acknowledging it. If they don’t get involved, then any fraud which might or might not have occurred sets the whole notion back a long way, and the press will continue to drive down the confidence of all digital or crypto-currencies.
So, it is a catch-22 for your authorities, authorities, and enforcement people, and they cannot look the other way or deny this trend any longer. Could it be time for regulations. Well, I personally despise regulation, but isn’t this how it usually starts. Once it’s regulated credibility is given to the concept, but his digital currency theory may also undermine the whole One World Currency strategy or perhaps 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 shall see.
In the meantime, what happens next will either break or make this new shift in how we view monetary value, riches, online transactions and how the actual world will mind-meld to our future blurred reality. I simply don’t see many folks thinking here, but everybody should, 1 misstep and we can all be in a world of hurt – all of humankind that is. Please consider all this and think on it. We want to say a quick word about our discussion re crypto genius software. One thing we tend to think you will discover is the right info you need will take its cues from your current predicament. Even though it is important to everybody concerned, there are important parameters you should keep in mind. The best strategy 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 exceptional tips for you to give serious attention.
Bitcoin is farther away from being The numeraire; not only is it simply a number, much as Fiat… but its value is quantified in Fiat! Even though Bitcoin becomes internationally accepted 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 exceptional in being measured by a true, unchanging physical quantity. Gold is exceptional in storing worth for centuries. Nothing else in reach of humankind has this unique blend of qualities.
In conclusion, while Bitcoin has A few advantages over Fiat, specifically anonymity and decentralization, it fails in its own claim to being cash. Its advantages are also questionable; the intent would be to limit the ‘mining’ of Bitcoins to 26,000,000 units; this is the ‘mining’ algorithm gets harder and harder to fix, then hopeless after 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 step for Bitcoin, does it not? After all, the ‘large banks’ seem to be accepting the true value of this Bitcoin, no? This actually means is banks realize that they could trade Fiat to get Bitcoins… and also to really buy up the 26 million Bitcoins planned would cost a meagre 26 Billion Fiat Dollars. Twenty six billion Dollars isn’t 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 bought up and locked up in the Fed’s ‘wallet’… what useful purpose would they serve?
There would be no Bitcoins left in Flow; an ideal corner. If there aren’t any Bitcoins in flow, how on Earth could they be applied as a medium of exchange? And, what could the issuers of Bitcoin potentially do to defend against such a fate? Change the algorithm and increase the 26 million to… 52 million? To 104 million? Combine the Fiat print parade? But , by the quantity theory of money, Bitcoin would begin to eliminate value, as Fiat supposedly loses value throughout ‘over-printing’…
We come into the key issue; why hunt To get a ‘new money’ when we have the very best money, Gold? Fear of Gold confiscation? Lack of anonymity from an intrusive government? Brutal taxation? Fiat money legal tender legislation? Each the above. The solution is not in a new sort of cash, but in a new social structure, 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 resume its ancient and vital role as honest money… and not a minute before.
Rudy J. Fritsch was created in Hungary In 1947, and fled Socialist tyranny during the Hungarian Revolution of 1956. His family had lived through WWII and the resultant Hungarian hyperinflation, so he has intimate experience with financial devastation.