As an engineer and entrepreneur, he Ran a thriving family business in Canada for decades, at its peak using over 100 workers, until economical upheaval ruined the profitability of North American production. Driven out of business, he chose to study economics… to discover the cause of the unhappy circumstance.
The halving takes effect when the Number of ‘Bitcoins’ given 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 an enduring impact and it is not yet known whether it’s good or bad for ‘Bitcoin’.
Okay so, let’s say that the authorities, FBI, or another branch of government complies and documents charges – should they file criminal charges that someone defrauded somebody else then just how much defrauding was demanded? If the government enforcement and justice department place a dollar sum number to this, they’re inadvertently agreeing that the electronic money is real, and it has a value, thus, acknowledging it. If they don’t get involved, then some fraud which might or might not have happened sets the entire concept back a ways, and the press will continue to drive down the trust of all electronic or crypto-currencies.
So, it’s a catch-22 for the government, regulators, and enforcement people, and they cannot look another way or deny that this trend any longer. Is it time for regulations. Well, I personally hate regulation, but isn’t this how it usually begins. Once it is controlled credibility is given to the notion, but his electronic currency concept may also undermine the entire One World Currency plan or even the US Dollar (Petro-Dollar) paradigm, also there could be hell to pay for this as well. Can the international market handle that level of disruption? Stay tuned, I guess we will see.
In the meantime, what happens next will either make or break this new change in how we see monetary price, wealth, online transactions and the way the actual world will mind-meld into our future blurred reality. I simply don’t see a lot of people believing here, but everybody needs to, 1 misstep and we can all be in a world of hurt – all of humankind that is. Please consider all of this and consider it. Well, just what do you feel about that so far? You may already have thought that crypto genius australia is a large field with much to find out. We have found other folks think these points are helpful in their search. At times it can be tough to get a clear picture until you discover more. It is always a wise decision to determine what your situations call for, and then go from that point. You have a sound base of a few essential points, and we will make that much stronger for you as follows.
Bitcoin is further away from being The numeraire; not just can it be simply a number, much as Fiat… but its worth is measured in Fiat! Even if Bitcoin becomes internationally accepted as a medium of exchange, and even though it succeeds to replace the Dollar as the approved ‘numeraire’, it can not have an intrinsic measure like Gold has. Gold is unique in being quantified by a true, unchanging physical quantity. Gold is unique in storing value for centuries. Nothing else in touch of humanity has this unique blend of attributes.
In Summary, while Bitcoin has Some advantages over Fiat, specifically anonymity and decentralization, it fails in its own claim to being cash. Its advantages will also be questionable; the intent is to limit the ‘mining’ of Bitcoins to 26,000,000 units; that is the ‘mining’ algorithm makes harder and harder to fix, then impossible after 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 ‘large banks’ appear to be accepting the legitimate worth of this Bitcoin, no? This actually means is banks realize that they could exchange 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’s about 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 useful purpose would they serve?
There would be no Bitcoins left in Flow; a perfect corner. If there are no Bitcoins in circulation, how on Earth can they be applied as a medium of trade? And, what would the issuers of Bitcoin potentially do to defend against such a destiny? Change the algorithm and increase the 26 million to… 52 million? To 104 million? Combine the Fiat printing parade? But , from the quantity theory of money, Bitcoin would start to lose value, as Fiat supposedly loses value throughout ‘over-printing’…
We come to the key dilemma; why search To get a ‘new money’ when we already have the very best cash, Gold? Fear of Gold confiscation? Lack of anonymity in the intrusive government? Brutal taxation? Fiat money legal tender laws? Each the above. The solution isn’t in a new form of money, but in a new social structure, one without Fiat, with no Government spying, without drones and swat teams… without IRS, border guards, TSA thugs… on and on. A huge independence not tyranny. Once this is achieved, Gold will restart its early and vital role as fair 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 consequent Hungarian hyperinflation, thus he’s intimate experience with financial destruction.