Is the world about to be changed by Cryptocurrency?
Has anyone else been paying attention to Fiat Currency's panic of collapses around the world... Cyprus Greece last year and their banking issues for example. Late last year Bitcoin a digital cyber currency backed by cryptography opened it's first ATM in Canada. Bitcoin one of the most popular ones but far from the only option, is the first to take cyber money into the real world of ATM withdrawals. What will happen to the entire central banking system if this currency is married with precious metals and raw commodities of intrinsic value? Well we're all about to find out with "NoFiatCoin". What will happen to governments as a whole if they're dropped by this new economy. With the ever increasing instability and inevitable Fiat Currency crash, is this a new viable way for the working class to dodge that bullet and survive. That or is this something much more ominous in nature designed to collapse National Sovereignty and usher in a one world digital based currency that isn't intrinsic at all and just Fiat Currency 2.0 under Bitcoin? I'm thinking the smart money hedges it's bets with NoFiatCoin but let's not forget you're not really in possession of anything tangible. This was reason for the birth of Fiat (AKA "Paper Money") Currency in the first place. There's a lot of variables at play here.
When a town in Vicco, Kentucky pays their Police Chief in Bitcoins rather than the actual currency being taxed to provide his services, it makes you think, what's next. The first outside of cyberspace, real world purchase made with Bitcoin was for a Pizza the price was 10,000 Bitcoins that cost approximately $25 USD back in 2010. The price fluctuates on Bitcoin as time passes. The cost of that Pizza at today's rate would be close to 4.5 million dollars if you were to purchase 10,000 Bitcoins now. This is a potential game changer in economics. With today's announcement in the Wall Street Journal that Bloomberg is going to add Bitcoin to it's indexes. It's a subject everyone should get familiar with QUICK! Especially since the IRS has taken aim upon it as property and other nations are following suit. This is where we come full circle into central banks being able to tax it. How is it that they're able to tax something they didn't create? This is a slippery slope down a path to one world currency and a loss of National Sovereignty.
