World Paper Money To Be Replaced By Electronic-Digital Currency

This would appear to be out of the proverbial Ripley’s Believe It Or Not. But as mind-boggling as it may seem, word has it that in the not so far future, World Paper Money could very likely be replaced by electronic-digital currency.

The next question that may logically follow is, “do I really need a Valcambi CombiBar Gold payment system; will things ever really get that bad?”. Well, the obvious answer to that is “I sure hope not”.

There is a limit to how many can be created. There can be 21 million Bitcoins in total. This is to avoid the currency from becoming worthless from overproduction like fiat money. Diminishing geometric expansion combined with the expansion of Bitcoins provides an incentive for early adopters.

A short history lesson: When people first started setting up actual business based on Bitcoin, they used all of the tools available to any merchant. They sold by credit card and PayPal. The problem with this business model was quickly spotted: bitcoin transactions are not reversible by anyone except the recipient of the money. Credit cards and PayPal have strong buyer protection policies that make it relatively easy for people to request a chargeback. So, nefarious individuals realized this and began making purchases of Bitcoin Millionaire Pro Erfahrungen and then sooner or later requesting a chargeback. And, since bitcoin is a non-physical product, sent by new and poorly understood technological means, the sellers were not able to contest this. Because of this, sellers stopped accepting credit cards and PayPal.

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In 2008 the exchange rate was 3 Argentine Pesos to 1 U.S. Dollar (USD). While the USD was not universally accepted, convertibility into Pesos was no problem. What I immediately noticed was how cheap certain things were like beef and public transportation. I felt like I could get a substantial meal with wine in a restaurant for a very reasonable price, and this was in a big city. Prior to their economic problems, the exchange rate was 1:1.

Two, is current events. Since the current financial crisis began several years ago, U.S. Government debt has exploded into what is now uncharted waters. Much of this seems to have simply been to save powerful banking interests. And while attribution to this quote seems difficult, it appears correct that a democracy can only exist until the majority discovers it can vote itself largess from the public treasury.

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