Great Reasons to Use Crypto-Currency Bitcoin

As an engineer and engineer, 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 cause of this unhappy circumstance.

The halving takes effect when the Amount of ‘Bitcoins’ awarded to miners after their successful creation of the new block is cut in half. Thus, this phenomenon will reduce the given ‘Bitcoins’ out of 25 coins to 12.5. It’s not a new thing, however it does have a lasting impact and it isn’t yet known if it is good or bad for ‘Bitcoin’.

Okay so, let’s say that the regulators, FBI, or another branch of government complies and documents charges – should they file criminal charges that somebody defrauded someone else then just how much defrauding was demanded? In the event the government enforcement and justice department place a dollar amount number to this, they’re inadvertently agreeing that the digital money is real, and it has a value, thus, acknowledging it. If they don’t get involved, then any fraud which may or may not have happened sets the whole concept 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 the government, authorities, and enforcement people, and they cannot look the other way or deny this trend no more. Could it be time for regulations. Well, I personally despise regulation, but isn’t this how it usually begins. Once it is regulated credibility is given to the concept, but his electronic money theory could also undermine the entire One World Currency plan or even the US Dollar (Petro-Dollar) paradigm, also there might be hell to pay for this as well. Can the global economy handle that degree of disruption? Stay tuned, I guess we shall see.
In the meantime, what happens next will either make or break this new shift in how we see monetary price, riches, online transactions and the way the real world will mind-meld into our prospective blurred reality. I simply don’t see a lot of people believing here, but everybody needs to, 1 misstep and we could all be in a world of hurt – all of humankind that is. Please think about all of this and consider it. As we have just mentioned, crypto genius is something that cannot be ignored – or at least should never be ignored. Sometimes there is simply way too much to even attempt to cover in one go, and that is important for you to recognize and take home. We will commence the rest of our conversation right away, but sometimes you have to stop and let issues sink in a little bit. In light of all that is offered, and there is a lot, then this is a perfect time to be reading this. As usual, we typically save the very finest for last.

Bitcoin is farther away from being The numeraire; not just is it simply a number, much as Fiat… but its worth is measured 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 not possess an intrinsic measure like Gold has. Gold is unique in being measured by a true, unchanging physical quantity. Gold is exceptional in storing worth for centuries. Nothing else in touch of humankind has this exceptional combination of attributes.

In Summary, while Bitcoin has A few advantages over Fiat, specifically anonymity and decentralization, it fails in its own promise to being cash. Its advantages are also 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 following the 26 million Bitcoins are mined. Unfortunately, this announcement could very well be the death knell of Bitcoin; currently, some central banks have announced that Bitcoins might become a ‘reservable’ currency.

Wow, sounds like a major measure for Bitcoin, does it not? After all, the ‘big banks’ seem to be accepting the true value of this Bitcoin, no? What 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 modest change to the Fiat printers; it is roughly a week’s worth of printing by the US Fed alone. And, once the Bitcoins bought up and locked up at the Fed’s ‘wallet’… what practical purpose could they serve?

There would be no Bitcoins left in Flow; a perfect corner. If there are no Bitcoins in flow, how on Earth can they be applied as a medium of trade? And, what could the issuers of Bitcoin possibly do to defend against such a fate? Change the algorithm and boost the 26 million to… 52 million? To 104 million? Join the Fiat print parade? But , from the quantity theory of money, Bitcoin would begin to eliminate value, as Fiat supposedly loses value throughout ‘over-printing’…

We come to the main dilemma; why search To get a ‘new money’ when we have the best money, Gold? Fear of Gold confiscation? Deficiency of anonymity from an intrusive government? Brutal taxation? Fiat money legal tender laws? All of the above. The solution 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… without IRS, border guards, TSA thugs… on and on. A world of independence not tyranny. Once this is accomplished, Gold will restart its early and critical role as honest money… and not a minute 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 consequent Hungarian hyperinflation, so he has intimate experience with financial devastation.


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