crypto currency

The most known crypto currency is the Bitcoin. Some believe in strong gains of value, but such means of payment also have an immensely high risk potential like no other because the bear lurks. Right now, just before the forthcoming reintroducing of gold based currency standards from China, Venezuela with its enormous oil reserves, Russia, the administration of Donald Trump in the United States of Amerika, among other countries, an exchange into cryptic currencies can be very dangerous.

As soon as one of the above-mentioned provincial governments has followed their announcements, all non-precious metal-based and cryptic influences will be greatly diminished, this includes the value of the Euro of course! With a gold- and silver-imprinted currency, the GOLD STANDARD, corresponding countries would get rid of the ever-increasing debt burden and put the total debt system out of the way. This would dramatically reduce the tax burden on businesses and citizens as well.

Apart from the price fluctuations, the advantage of cryptic currencies lies in the anonymity. Very easy to transport, whether on a stick or printed as a QR-code. In this respect they are lighter than gold and undetactable.

But cryptic currencies are increasingly used by money-laundering terrorist organizations. Not only governments that want to reintroduce a gold- and silver-based currency, but also other countries, are additionally encouraged to regulate cryptic currencies or render them worthless in terms of counterterrorism. The mutation to fad is certainly another aspect for caution, because there are more and more cryptocurrencies entering the market. The Bitcoin has recently benefited from its name recognition. Meanwhile, there are also the Bitcoin Gold, Bitcoin Cash, Ripple, Neo, Litecoin, Monero, Dash, ZCash and many others. Already 1.500 different cryptocurrencies are on the market and there will be more.

The central banks are also considering the introduction of state crypto currencies, but this is far too late. The governments and central banks are indeed in a dilemma. If they want to prevent non-sovereign cryptocurrencies from enjoying more confidence than traditional currencies in the form of basically worthless paper money, bans will not be enough, on the contrary.

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The Bitcoin protocol an therewith the amount of Bitcoins which can be produced is limited to 21 million. The Chicago Board Options Exchange (CBOE) and the Chicago Mercantile Exchange (CME) have approved Bitcoin for future-trading.

However, the subsequent price fluctuations were too much even for the CBOE, whereupon the trade was stopped twice after just a few days.

Bitcoin as an alternative to gold, because it´s limited? Hardly likely. Unlike gold, the Bitcoin has no intrinsic use.

The Venezuelan Government's introduction of the oil-covered cryptocurrency "PETRO" should also be viewed with great caution due to the political instability of the country. It is prohibited to trade the PETRO in the United States of America. China now wants to ban not only the trade, but also the mining of cryptocurrencies, followed by South Korea. Currently the most important alternative production facilities are located in Japan, Taiwan and Hong Kong. In comparison between 2017 and 2018, the amount of money invested in the initial issue of coins was reduced by more than 90%. The increasing number of fraudulent events that have occurred in recent years has deterred investors. In addition, in the Asian region, including Japan, many people have received their salary in cryptocurrencies and are increasingly tired of accepting losses in their earnings. The trend is clearly going back here to be paid in state paper and coin money.

The end of the Corona Virus Crisis it a good moment to reintroduce the Gold Standard. In the past fair competition was not given and a truly free market, bureaucratically over-regulated and subsidized, could not develop. It will be different now. If the money continues to be printed to the same extent as before, without the Gold Standard, there is a high probability that the cryptocurrencies will increase in their value and thus importance as a recognized means of payment. Of course the public is turning away from a crypto currency, created by the state. This concern is certainly not determined by the state which currency will be accepted in the future. It is YOU who decides. It´s about your privacy, freedom, fairness and security.

In addition to a significantly lower tax burden for citizens and businesses, a gold standard would also contain, if not completely eliminate, corruption. It would not be possible for a 1% super-rich to enrich themselves in this way and to abuse humanity. Such a distribution would not even come about. It is not capitalism that has led to the many grievances and omnipotence fantasies of idiosyncratic psychopaths, but the debt-money system introduced by the Federal Reserve Act in 1913.

In 2020, the introduction of the "LIBRA" will be considered. So far, 28 companies have come together who want to publish the new digital currency. Probably up to 100 by the start. Including companies such as Google (Alphabet), Ebay, Uber, Facebook, VisaCard, MasterCard, PayPal and Stripe. The Libra shall be covered by a reserve fund in different national currencies. The LIBRA would only be a digital currency, NOT a cryptic currency in the traditional sense. The Libra blockchain is not a public blockchain as is the case with Bitcoin or Ethereum, but a consortium blockchain in which the mining can only be made by paying members of the Libra Association. In the meantime, a few of the companies mentioned have distanced themselves from the project.

Cryptocurrencies are usually being traded in leverage 1:1 to 20:1 against the USD. Therefore, the regular Forex trade, which can be carried out on the same platform to a lever of 1000:1, remains undisputedly the preferred product of most investors.