As an engineer and entrepreneur, he Ran a successful family business in Canada for years, at its peak employing over 100 workers, until economical upheaval destroyed the sustainability of North American production. Driven from business, he chose to study economics… to detect the origin of this unhappy circumstance.
The halving occurs when the Number of ‘Bitcoins’ given to miners after their successful development of the 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 a lasting impact and it isn’t yet known if it is good or bad to ‘Bitcoin’.
Okay so, let us say that the regulators, FBI, or another branch of government complies and files charges – if they file criminal charges that someone defrauded someone else then how much defrauding was demanded? If the government law and justice department place a dollar sum number to that, they’re inadvertently agreeing that the digital money is actual, and it’s a value, consequently, acknowledging it. If they don’t get involved, then some fraud which may or may not have happened sets the entire concept back a long way, and the media will continue to drive down the trust of all electronic or crypto-currencies.
So, it is a catch-22 for your government, regulators, and enforcement people, and they cannot look another way or deny that this trend no more. Could it be time for regulations. Well, I personally hate regulation, but isn’t this how it usually starts. Once it’s controlled credibility is given to the notion, but his digital money concept could also undermine the whole One World Currency strategy or perhaps the US Dollar (Petro-Dollar) paradigm, and there could be hell to pay for that as well. Can the international market handle 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 the way the actual world will mind-meld into our prospective blurred reality. I just don’t see a lot of people believing here, but everybody needs to, one misstep and we could all be in a world of hurt – all of humanity that is. Please consider all this and consider it. The effects of crypto genius erfahrungen, not only on you but many others, is a fact that has to be acknowledged. There are so many possibilities and variations – twists and turns, that maybe you see how difficult it can be to cover all bases. But I wanted to stop for a moment so you can reflect on the value of what you have just read. We are highly certain about the ability of what we offer, today, to create a difference. If you continue, we know you will not be unhappy with what we have to offer in this article.
Bitcoin is farther away from being The numeraire; not just is it a few, much as Fiat… but its worth is quantified in Fiat! Even though Bitcoin becomes internationally recognized as a medium of exchange, and even if 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 real, unchanging physical quantity. Gold is exceptional in storing value for thousands of years. Nothing else in touch of humankind has this unique blend of qualities.
In conclusion, while Bitcoin has Some advantages over Fiat, namely anonymity and decentralization, it fails in its own claim to being money. Its advantages are also questionable; the intent would be to restrict the ‘mining’ of Bitcoins into 26,000,000 units; that is , the ‘mining’ algorithm makes harder and harder to solve, then hopeless following the 26 million Bitcoins are mined. Unfortunately, this statement could very well be the death knell of Bitcoin; currently, a few central banks have announced that Bitcoins might become a ‘reservable’ currency.
Wow, sounds like a major step for Bitcoin, does it not? After all, the ‘big banks’ appear to be accepting the legitimate value of this Bitcoin, no? This actually means is banks realize that they could trade Fiat to get Bitcoins… and to actually buy up the 26 million Bitcoins projected would cost a meagre 26 Billion Fiat Dollars. Twenty six billion Dollars is not even small 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; a perfect corner. If there are no Bitcoins in flow, how on Earth could they be used as a medium of exchange? And, what could 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? Combine the Fiat printing parade? But then, by the quantity theory of money, Bitcoin would start to lose value, just as Fiat allegedly loses value through ‘over-printing’…
We come into the key dilemma; why search To get a ‘new money’ if we have the very best cash, Gold? Fear of Gold confiscation? Lack of anonymity in the intrusive government? Brutal taxation? Fiat money legal tender legislation? Each the above. The solution is not in a new sort of money, 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 independence not tyranny. Once this is achieved, Gold will resume its ancient and vital role as fair money… and not a minute before.
Rudy J. Fritsch was born in Hungary In 1947, also fled Socialist tyranny throughout the Hungarian Revolution of 1956. His family had lived through WWII and the consequent Hungarian hyperinflation, thus he’s intimate encounter with financial devastation.