As an engineer and engineer, he Conducted a thriving family business in Canada for years, in its peak employing over 100 workers, until economical upheaval destroyed the sustainability of North American production. Driven out of business, he chose to study economics… to discover the cause of this unhappy circumstance.
The halving takes effect when the Amount of ‘Bitcoins’ awarded to miners after their successful development of this new block is cut in half. Thus, this phenomenon will cut the awarded ‘Bitcoins’ from 25 coins to 12.5. It is not a new thing, however it does have a lasting effect and it is not yet known whether it is good or bad for ‘Bitcoin’.
Okay so, let’s say that the authorities, FBI, or another branch of government interferes and documents charges – if they file criminal charges that someone defrauded somebody else then just how much defrauding was demanded? In the event the government enforcement and justice department place a dollar amount number to that, they are inadvertently agreeing that the digital money is real, and it has a value, thus, acknowledging it. If they don’t get involved, then some fraud which may or may not have happened sets the entire notion back a ways, and the media will continue to push down the trust of all digital or crypto-currencies.
So, it’s a catch-22 for your government, regulators, and enforcement folks, and they cannot look another way or deny this trend no more. 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 concept, but his digital currency 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 that as well. Can the international economy manage that level of disruption? Stay tuned, I guess we will see.
In the meantime, what happens next will either break or make this new shift in how we view monetary price, riches, online transactions and the way the actual world will mind-meld to our prospective blurred reality. I simply don’t see a lot of folks thinking here, but everyone 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. As you can plainly see, what you will find out about crypto genius software is some points are far more important than others. What is more critical for you may be less so for others, so you have to think about your unique conditions. But we are not done, yet, and there is always much more to be uncovered. Keep reading to discover even more, and what we will do is add a few more important topics and suggestions for you to consider. Even following what is next, we will not quit there because the best is yet to come.
Bitcoin is farther away from being The numeraire; not just can it be simply a number, much as Fiat… but its worth is quantified in Fiat! Even if Bitcoin becomes internationally accepted as a medium of exchange, and even if it succeeds to replace the Dollar as the approved ‘numeraire’, it can not have an intrinsic measure like Gold has. Gold is exceptional in being quantified by a true, unchanging physical quantity. Gold is exceptional in storing worth for centuries. Nothing else in touch of humanity has this unique blend of attributes.
In Summary, while Bitcoin has Some advantages over Fiat, namely anonymity and decentralization, it fails in its claim to being money. Its advantages will also be questionable; the aim is to restrict the ‘mining’ of Bitcoins to 26,000,000 units; that is the ‘mining’ algorithm gets harder and harder to fix, then hopeless after the 26 million Bitcoins are mined. Unfortunately, this statement 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 ‘large banks’ appear to be accepting the true worth of this Bitcoin, no? This really means is banks realize that they might exchange Fiat for Bitcoins… and also to really buy up the 26 million Bitcoins planned 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 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 Flow; a perfect corner. If there are no Bitcoins in circulation, how on Earth could they be used as a medium of exchange? And, what would the issuers of Bitcoin possibly do to defend against such a fate? Change the algorithm and boost the 26 million into… 52 million? To 104 million? Join the Fiat printing parade? But , from the quantity theory of money, Bitcoin would start to eliminate value, as Fiat allegedly loses value throughout ‘over-printing’…
We come to the key issue; why hunt To get a ‘new money’ when we already have the very best money, Gold? Fear of Gold confiscation? Lack of anonymity in the intrusive government? Brutal taxation? Fiat money legal tender laws? Each of the above. The answer isn’t in a new sort 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 world of liberty not tyranny. Once this is accomplished, Gold will restart its ancient and vital role as fair money… and not a moment before.
Rudy J. Fritsch was created 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 experience with financial destruction.