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<p>[QUOTE=&quot;NOS, post: 7417557, member: 2098&quot;]Some interesting notes and things to share about Bitcoin and digital currencies in general:</p><p><br /></p><p>1. There is a limit of approximately 21,000,000 Bitcoin in existence. This means its value cannot be easily diluted or subject to inflation like most currencies in the world. This limit, combined with high demand, is why its value has gone so high the past few years.</p><p><br /></p><p>2. With point #1 in mind, it is said the inevitable outcome is for the amount of Bitcoin to be increased at some point not only due to demand but due to people losing their Bitcoin by forgetting their passwords or unwittingly throwing out their computer hard drives that contain it, etc.</p><p><br /></p><p>3. The U.S. government now wants you to answer on your annual tax return if you&#039;ve had dealings with Bitcoin or other &quot;digital&quot; currencies the previous year.</p><p><br /></p><p>4. It has been said that in time, governments could move to ban Bitcoin and other such kinds of digital &quot;cryptocurrencies&quot; because they simply won&#039;t like the competition against their currencies or their being used by society as a safe haven from which to store their wealth.</p><p><br /></p><p>There is historical precedent for this and it can be seen when the U.S. government banned the private ownership of gold starting in 1933. FDR sought to increase spending in the midst of The Great Depression and he had to contend with the fact that Federal Reserve Notes (FRNs) had to be backed by 40% in physical gold being owned by the government.</p><p><br /></p><p>With it being made illegal to own gold (punishable by up to 10 years in prison), citizens were compelled to swiftly redeem their gold coins and bullion at banks for paper money. This allowed spending to be increased but resulted in people no longer being able to store their wealth in what had previously been considered a very reliable, safe haven asset.</p><p><br /></p><p>5. This would no doubt depend on which governments were doing the banning but if #4 were to happen it is said the value of Bitcoin and cryptocurrencies in general would likely plummet.[/QUOTE]</p><p><br /></p>

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