Convinced of the Bitcoin technology? Then strategically steer clear of banks and tactically steer clear of Bitcoin. „What do you think of Bitcoin?“ I was often asked. The frequency of question is clearly related to the share price. Was she rarely a year ago, they met me after a price increase of more than 700 percent this year alone almost daily. Without an expert to be for crypto currencies can I find the block chain technology at least very interesting. Allowed them but the complete and tamper-proof documentation of transactions.
Entire business processes can be mapped in this way and you can imagine that in the future land registry and notary activities look different or even completely migrate to the digital world. Even as payment crypto currencies like survive and make a long-cherished dream come true to have global privately organized currencies related to each other in competition and, therefore, to be different from our modern monetary economy free of government manipulation (ie constant devaluation). In theory, an attractive idea whose practical realization given the interests of governments and central banks, however, is very unlikely. States will always exist, for example in tax payments on performance in euros, dollars, pounds or yen. Buy Bitcoin? The question of whether to invest in Bitcoins provides. As attractive as the technology is so hard it is to determine the fair value.
Why you should try Bitcoin Code
Although the cost of production because of rising electricity consumption in the „mining“ of the coins increase with ever greater computing capacity. Even today, the producers of Bitcoins consume more power than Ireland Here’s all you should know before you sign up and would consider at the current growth, already in 2020, the global electricity production would be used only for „mining“ of crypto currencies. From the thus inevitably increasing costs derive correspondingly rising prices, however, is not permitted. Quite often you could experience in commodity markets that prices below production costs. Scarcity as an argument not convincing even in the face of exploding debt and money supply. Because then, for example, would have to Gold significantly higher note and climb parallel to the expansion of money supply and debt.
How little the natural scarcity of gold in the relative prices reflected the following calculation shows: In order to pay off the US national debt in one fell swoop, it would take a revaluation of the gold holdings of US 70,000 dollars per ounce. Italy and France were enough US $ 25,000 to pay off all debts, while Germany all sovereign debt would be at 18,000 US dollars going. This shows the importance of the gold reserves that have built up in the postwar years these countries. Greece could pay off all debts ounce until an appreciation of US $ 80,000, for Japan would have to increase the price of gold by around 410,000 US dollars to meet the national debt. Although we know that countries and private have accumulated unsustainable debt burdens and continue to accumulate, we give ourselves with gold prices around 1300 US dollars an ounce satisfied.
Although the Kryptrowährungen may be relatively scarce than gold, in contrast to gold but do not have a more than 6,000-year tradition as a store of value and can not be transported (across borders) in your pocket. Remains for us to get a feel for just the way on sentiment indicators, while the price of Bitcoins will develop: – Looking at the performance, so a classic blow-off can be seen. The courses go almost vertically upwards, which at least has historically led to similar developments to a crash. – At the same time the stories about Bitcoin in the mainstream media are mounting. Told Manager Magazin of the Berlin WG-residents who were trading in Bitcoins millionaires, told WirtschaftsWoche future prospects as a private currencies and the level reported by the record hunt. Picture asked, „What’s the point now to buy Bitcoins?“. Although reference is made to the risks, but it is certain that only now many people pay attention to the boom and quite a few still jump on the train. Experience has shown that only the professionals to facilitate the exit before the crash. – the first European Bitcoin funds for private investors, which will be launched by a small French asset manager falls into the same category.
No less than 400 million hard of funds in two to three years should be. Here, too, should the private sector – as so often – to be late to the party. – The pros are delighted, meanwhile, that the Chicago Mercantile Exchange futures introduced on Bitcoin, which you can bet not only on further rising prices, but also completely to falling prices. All those who now have the feeling that they would have to quickly follow the lemmings had placed the experience of Isaac Newton to his heart: first he had earned during the South Sea Bubble of 1720 a lot of money and cashed. But when he saw that his friends and acquaintances deserved more, he got just before the bubble burst back into the speculation one. Instead of another profit this gave him a loss of 20,000 pounds – the equivalent of today at least three million euros – and he complained that „he can calculate the motion of the stars, but not the stupidity of men.“ Can Bitcoin still rise to 100,000 euros? – yeah.
But fall on the 100th We will see. Sell the losers Whoever believes in the future of Bitcoin, should, instead of chasing after the assessments, rather sell what will suffer from the advent of the block chain technology the most. The banks are likely to be. Not only would put an end to money creation privilege of the banks, the crypto money, it would automate much of the transactions of the banks and making banks completely superfluous. The destruction of the traditional retail by Amazon is compared so that only a small structural change. The banking system is sitting on excess capacity of any kind: Company needs not one employee for processes that eliminated through the digitization and bad loans amounting to hundreds of billions of euros in Europe alone.
Low interest rates do another to undermine the profitability of the banking system sustainable. Reasons enough to stay away from banks away. The scenario of a completely superfluous banking system substituted by players like Google and Facebook is more than a utopia. Change to the poor outlook for banks and the merger activity – Keyword Commerzbank – nothing. These are merely attempts a dying industry where each player try to have time to buy through the acquisition of market share. we let the banks do it without us.