The BitCoin currency network will create 21 million maximum coins and no more, unlike the U.S Government that is completely bankrupt and 16 Trillion dollars in debt that uses their Central Banks like the U.S Fed to keep printing digital U.S Dollars out of thin-air.
U.S Central banks printing money, floods the world market and devalues the U.S dollar , creates inflation and it also promotes irresponsibility. Like, the U.S and Japanese Government can spend, spend, spend because if they need more money all they have to do is hit the “PRINT” button. Instead of being responsible and paying off debt and spend only what they can afford, the U.S and Japan right now are just racking up the debt like a teenager that just got their new credit card.
Realize, that modern fiat currencies are really nothing but “virtual digital money” anyway. Your bank account is nothing more than electronic ledger in your banks database anyway. So, BitCoins is not really much different, except that no more than 21 million can be created thereby maintaining integrity and preventing irresponsible government spending.
Ask, yourself do you trust your Government to not take your savings, when your Government has been economically irresponsible and gotten itself into debt it cannot recover from? Look to history, the U.S Government confiscated gold in the 1930’s, Germany’s currency collapsed in 1930’s, Argentina currency collapsed in the 1980’s and most recently April 2013, Cypress citizens had up to 40-60% of their savings confiscated. History is the best indication.
The Titanic that is going to hit the iceberg is the U.S Government debt and the U.S dollar, which is the world reserve currency. When the U.S dollar collapse in the not too distant future due to excessive money printing (lookup up what happened to Weimar Republic), where do you put your money as a safe haven. BitCoin can be a possible temporary alternative to hold your wealth for a short time out of U.S dollar or any currency that is unstable while you decide what other currency is more stable to move your capital to.
The rise of BitCoins in the last few weeks is due to people moving a little of their money away from fiat currencies to hedge against Central Banks money printing and currencies of Governments/ countries that are too indebted and likely to collapse like Cypress. BitCoins like physical gold and silver is an alternative currency that retains some wealth.
Don’t believe the American mainstream media that is trying to discredit BitCoins, because the American government do not want their own citizens to realize the truth which is that the U.S dollar is pretty much worthless and becoming more so as Ben Bernake keeps printing trillions of dollars to keep the stock market and U.S economy afloat.
Please do your own research, before committing any capital to investing.
Bookmark at:StumbleUpon | Digg | Del.icio.us | Dzone | Newsvine | Spurl | Simpy | Furl | Reddit | Yahoo! MyWeb
Tags: Bitcoin, currency collapse, Debate, Economics, Virtual Reality
