Okay so, let’s say that the regulators, FBI, or another branch of government interferes and files charges – if they record criminal charges that somebody defrauded somebody else then just how much defrauding was demanded? In the event the government enforcement and justice department put a dollar sum number to that, they are inadvertently agreeing that the electronic money is real, and it has a value, consequently, acknowledging it. When they don’t get involved, then any fraud which might or might not have occurred sets the whole notion back a long way, and the media will continue to push down the confidence of all digital or crypto-currencies.
But there is really very little evidence of the scale of the problem of offense with cryptocurrencies. We don’t know if there is a great deal or we do not know if there’s a bit. But despite this, most people are very quick to trade it as a criminal entity, and they forget the legitimate applications, like the fast and fast payment.
Hence the most noteworthy is probably Silk Road, that got removed lately, and through their $1.2 million worth of Bitcoins, went to cover anything from drugs to guns to hit men to all those sorts of items. And the media, again, quite quickly to attribute this on Bitcoins and state that it was the Bitcoin consumer’s fault.
The high degree of anonymity in there means that it’s very tough to follow transactions. It’s not entirely impossible, but it’s impractical in most cases. So offense with cryptocurrency– because you’ve got fast, borderless transactions, and you have a high level of anonymity, it in theory creates a system that is ripe for manipulation. So in most cases when it’s a crime online with online payment systems, then they are inclined to go to the authorities and, state, we can hand over this payment information or we can stop these transactions and reverse them. And none of this can happen with Bitcoin, therefore it makes it stable for criminals, in theory.
In the meantime, what happens next will either make or break this new shift in how we see monetary price, wealth, online transactions and the way the real world will mind-meld to our future blurred reality. I just don’t see a lot of folks believing here, but everyone should, one misstep and we could all be in a world of hurt – all of humanity that is. Please consider all this and think on it.
Some of the principal characteristics of those currencies is the fact that they’re safe and that they offer an anonymity level that you may not get anywhere else. There’s no way in which a transaction can be reversed or faked. This is absolutely the greatest reason why you need to consider using them. There just is no denying about the potential of Crypto Edge System to dramatically alter some situations is incredible. There are so many scenarios and variations – twists and turns, that maybe you see how difficult it can be to cover all bases. There is a lot, we know, and that is the reason why we are taking a very short break to state a few words about this. In light of all that is offered, and there is a lot, then this is a great time to be reading this. The balance of this article is not to be overlooked since it can make a huge difference.
Increasingly more people are opening their minds into the presence and stability of these platforms and many are craving to rest away from the scrutinizing eyes of their governing bodies involved in the storage and exchange of the assets. The future might appear dim this day but as more inventive minds work together to make more convenience in how finance and everything monetary is handled. Who knows maybe 1 day even fiat money can disappear for good.
What do you say to that? Ouch. Does this prove that the naysayers calling it a Ponzi Scheme were ideal? Can they get the last laugh, or is this just an anticipated evolutionary process of disruption as all the kinks are worked out? Well, consider this thought experiment I had.
So, it’s a catch-22 for your authorities, regulators, and enforcement folks, and they cannot look another way or deny this trend any longer. Could it be time for regulations. Well, I personally despise regulation, but isn’t this how it usually begins. Once it is controlled credibility is given to the concept, but his electronic currency theory may also undermine the entire One World Currency strategy or perhaps the US Dollar (Petro-Dollar) paradigm, and there might be hell to pay for that as well. Can the international economy manage that level of disruption? Stay tuned, I guess we shall see.
In addition to that, the principal feature is that it’s totally decentralised, which means that there is no single central point of jurisdiction or anything like this. The implications of this is done by everyone having a full copy of all the transactions that have ever happened with Bitcoin. This makes a remarkably resilient network, meaning that no one can reverse or change or police any of the transactions.
The second article went on to say; “Tokyo-based Mt. Gox, once among the largest exchanges of this bitcoin cybercurrency, stopped working Tuesday amid rumors that millions may have been stolen in the company and rising concerns regarding the long-term prospects for the unregulated electronic currency. Other bitcoin exchanges immediately moved to distance themselves in Mt. Gox and assert that they were still open for business. The value of the currency itself dropped sharply to just over $500 by mid-afternoon. It struck an all-time high of $1,100 in November.”