Cryptocurrency

The aim of the first blockchain application, the cryptocurrency Bitcoin, was likely intended to put a challenge to central banks and their reckless bailout system that deflates and endlessly deflates Peoples Capital. This is an excerpt of the first block. Note the text on the side.


https://news.bitcoin.com/bitcoins-quirky-genesis-block-turns-eight-years-old-today/

After 9 years or so the coin has reached a price of roughly 17.000 US dollars per coin, where about 16.5 million of the total 21 million have been mined. A great surge in price from around 1.000 US dollars to the current price has taken place this past year. An rather big leap followed the announcement that stockbrokers were preparing to sell bitcoin futures. As the derivatives became available, the price stabilized. Where it had been very volatile the past year, spiking and dipping for well over 20 percent a day very regularly, the price now has been sitting around, slightly above $17.000 for some days. This  stability means it can be viable as currency. It had already met other conditions, such as outdoing fiat currency in terms of security and introducing deflation in stead of inflation, which forms a nice challenge to the central banks that have been extending negative interests to private banks which is transferred to private people, so that saving money has begun to cost money rather than yield it. It is natural that man found a response to this.

The challenges for the cryptocurrency market are rich and plenty and the resolution and capacity of its many developers is impressive and encouraging. At this point he market capitalization of Bitcoin is the size of a serious bank and about a tenth the size of one the worlds many super-banks such as Morgan Chase, which is worthy between 2 and 3 trillion and follows a list of Chinese state banks which are the worlds biggest known asset holders.

The Chinese have prohibited most trade in bitcoin. Other nations are embracing it as a way to fight corruption.

I have never trusted Bitcoin. Always thought it was a scam.

It'll prove a scam if the western governments manage to take it down. If not it'll eliminate inflation and the parasitical attitude of "economic growth".

Fiat currency banking is a long standing scam from which part of the world profits at the cost of the other part, a scam that the Germans are sabotaging with their negative interest rates. Its too complicated to completely grasp, all of it, it is real time reality.


It's hard to say what bitcoin can become. But internet payment is safer with cryptocurrency than with encrypted bank accounts. And in the end, it looks like we will be paying everything online.

Cryptomoney offers independent transactions, no banks involved, only the Standard and any number of exchanges. You can make your own bitcoin exchange and profit from providing a service to the independent economy.

It can crash or to can go up. It can go up significantly because of the limited amount of coins, if it is interpreted as a banking system providing global services. It could go up by a factor 30 still, but that would be over a series of long years of big changes accompanied with a lot of pressures and explosions in world politics.

I would also think it is likely that this period involves a big crash, and a complete reattribution and arrangement in some sort of regulated order allowing for taxation (which in this case is a great idea) and a steady recovery - in the end it will have to become less mysterious to carry an economy; still, if it works, it works. People are very easy in getting used to that particular quality. When something works.