Ultimate Money - Crypto News, Reviews & How to's
  • Home
  • About Us
  • Bitcoin
    Bitcoin Price Chart

    Bitcoin Price Chart

    Bitcoin Latest News

    Bitcoin Latest News

    what is bitcoin

    What is Bitcoin?

    How To Buy Bitcoin

    How To Buy Bitcoin

    Cryptocurrency ICO

    Bitcoin Wallets

  • Cryptocurrency
    Crypto Latest News

    Crypto Latest News

    Crypto Coin Reviews

    Crypto Coin Reviews

    Cryptocurrency Education

    Cryptocurrency Education

    Cryptocurrency ICO

    Cryptocurrency ICO

    Crypto Price Charts

  • Exchanges
    Top 10 Aus Exchanges

    Top 10 Aus Exchanges

    Top 10 Overseas Exchanges

    Top 10 Overseas Exchanges

    Coinspot Review

    Coinspot Review

    Binance Review

    Binance Review

    Bitmex Review

    Bitmex Review

  • How To
    What is Bitcoin?

    Get Started – Crypto Intro

    How To Buy Crypto

    How To Buy Crypto

    How To Store Crypto

    How To Store Crypto

    How To Mine Crypto

    How To Mine Crypto

    How To Bet With Crypto

    How To Bet With Crypto

  • Podcasts
  • Contact Us
No Result
View All Result
  • Home
  • About Us
  • Bitcoin
    Bitcoin Price Chart

    Bitcoin Price Chart

    Bitcoin Latest News

    Bitcoin Latest News

    what is bitcoin

    What is Bitcoin?

    How To Buy Bitcoin

    How To Buy Bitcoin

    Cryptocurrency ICO

    Bitcoin Wallets

  • Cryptocurrency
    Crypto Latest News

    Crypto Latest News

    Crypto Coin Reviews

    Crypto Coin Reviews

    Cryptocurrency Education

    Cryptocurrency Education

    Cryptocurrency ICO

    Cryptocurrency ICO

    Crypto Price Charts

  • Exchanges
    Top 10 Aus Exchanges

    Top 10 Aus Exchanges

    Top 10 Overseas Exchanges

    Top 10 Overseas Exchanges

    Coinspot Review

    Coinspot Review

    Binance Review

    Binance Review

    Bitmex Review

    Bitmex Review

  • How To
    What is Bitcoin?

    Get Started – Crypto Intro

    How To Buy Crypto

    How To Buy Crypto

    How To Store Crypto

    How To Store Crypto

    How To Mine Crypto

    How To Mine Crypto

    How To Bet With Crypto

    How To Bet With Crypto

  • Podcasts
  • Contact Us
No Result
View All Result
Ultimate Money - Crypto News, Reviews & How to's
No Result
View All Result

Cryptocurrencies Are Digital Bearer Assets

by Tim Delmastro
Cryptocurrencies Are Digital Bearer Assets
130
SHARES
Share on FacebookShare on Twitter

In the 1988 action film Die Hard, a group of heavily armed German terrorists attempt to steal $640 million in US government bearer bonds from a Japanese financial firm. The plan of the heist, had it not been foiled, would have been to steal the bonds, then redeem them for cash at the US Treasury.

How is this relevant to cryptos, you may ask?

Because cryptocurrencies, like US government bearer bonds, are bearer instruments. In simple terms, a bearer instrument is an object that entitles the holder the rights of ownership or title to the underlying property. Cash, gold coins, and iTunes gift cards are further examples of bearer instruments.

Transferable digital scarcity

This bearer instrument attribute is the innovation behind cryptocurrencies. With the invention of Bitcoin, the world’s premier cryptocurrency, a scarce digital bearer asset can now be transferred electronically from one holder to another. This revolutionary technology gives the holder (bearer) complete monetary sovereignty over his or her wealth. But such freedom comes at a cost, and if the underlying responsibility of this freedom is not fully respected, holding a digital bearer asset can lead to financial ruin.

Like any bearer asset, cryptocurrencies can be lost or stolen. Gold bars can be permanently lost at sea, and duffle bags full of cash can be robbed at gunpoint. But unlike the German terrorists in Die Hard, stealing crypto doesn’t require locking down a building and threatening its employees. An anonymous hacker halfway across the globe can remotely steal your crypto, and odds are you won’t even realise that a theft has taken place until well after the fact.

Even without outside interference, losing your crypto assets can be as simple as misplacing or forgetting your crypto wallet’s password. And once lost, cryptocurrencies are irretrievable. It is for these reasons that extreme care must be taken when storing and transacting in cryptos.

Beware the wild west

The cryptocurrency market is for the most part unregulated. It’s the wild west of the investment world, and is rife with bandits and conmen looking to separate you from your hard earned money. As the digital honeypot grows, these online attackers will become increasingly clever in how they attempt to rob uneducated cryptocurrency holders.

Cryptocurrencies have provided what some would consider unreasonably high returns for investors in the past, and are still more than capable of offering tremendous value. But regardless of what may result in the future, anyone ignoring the very serious, yet often forgotten risks that come with holding any kind of bearer instrument does so at their own peril.

Share52Tweet33
Previous Post

Crypto News June 14, 2018 – Ultimate Money

Next Post

EOS review

Tim Delmastro

Tim Delmastro

Tim Delmastro is a multi-award winning filmmaker and journalist, having researched and documented subjects relating to Bitcoin and other current events in finance for over a decade.

His films have been broadcast on Netflix, The History Channel, Al Jazeera, SBS Australia and Emirates In Flight. Tim has been a featured guest on Fox News, RT, The Project and several radio stations and podcasts.

Note: None of the information should be considered financial advice. We merely provide opinions and education so that you can Do Your Own Research. Cryptocurrencies have a history of volatility and Ultimate Money is not responsible for any financial losses or gains you may have when investing in any crypto coins or related projects.

Related Posts

What is a SIM Swap Attack? 
Cryptocurrency

What is a SIM Swap Attack? 

How Risky Are Cryptocurrencies?
Cryptocurrency

How Risky Are Cryptocurrencies?

Blockchains and Freedom of Speech  
Cryptocurrency

Blockchains and Freedom of Speech  

South Korean Treasure Hunters Launch ICO
Cryptocurrency

South Korean Treasure Hunters Launch ICO

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

FOLLOW US

Youtube Twitter Facebook

ARTICLE POSTS

  • Bitcoin
  • Cryptocurrency
  • Exchanges
  • How To
  • Coin Reviews

WEEKLY NEWSLETTER

PODCAST SUBSCRIPTION

on Apple Podcastson Androidon Google Podcastson Stitchervia RSS
API Request timeout

TOP 10 CRYPTOCURRENCY

#

Name

Price

1 Hour

TOP ARTICLES

  • Bitcoin review
  • Buy Bitcoin with Credit Card
  • Bitcoin Mining Explained
  • Alice in Cryptoland
  • Ethereum Review

LATEST POSTS

Printing Money for Celebrity Endorsements

Printing Money for Celebrity Endorsements

Can Governments Hoard and Destroy Bitcoin

Can Governments Hoard and Destroy Bitcoin?

Turkey Turns Bitcoin Currency Crisis 

Turkey Turns to Bitcoin During Currency Crisis 

Ultimate Money Podcast Episode #015: Castlecoin Part 3

Interview with James Lynch, CEO of Castlecoin Ep#16

Seriously, Is Bitcoin Dead?

Seriously, Is Bitcoin Dead?

Ultimate Money Podcast Episode #015: Castlecoin Part 2

Behind the scenes of a Crypto Company Ep#15

What is a SIM Swap Attack? 

What is a SIM Swap Attack? 

TRENDING

  • Ethereum Review

    Ethereum Review

    0 shares
    Share 0 Tweet 0
  • Dash review

    0 shares
    Share 0 Tweet 0
  • NEM review

    0 shares
    Share 0 Tweet 0
  • Tezos coin review

    0 shares
    Share 0 Tweet 0
  • Top 10 Aus Exchanges

    141 shares
    Share 56 Tweet 35
Ultimate Money – Crypto News, Reviews & How to's

Ultimate Money is a Bitcoin and cryptocurrency education site providing guides, reviews, prices, podcasts and videos.

Article Posts

  • Bitcoin
  • Cryptocurrency
  • Exchanges
  • How To
  • Coin Reviews

Top Articles

Bitcoin review

Buy Bitcoin with Credit Card

Bitcoin Mining Explained

Alice in Cryptoland

Ethereum Review

RECENT NEWS

Printing Money for Celebrity Endorsements

Can Governments Hoard and Destroy Bitcoin?

Turkey Turns to Bitcoin During Currency Crisis 

Interview with James Lynch, CEO of Castlecoin Ep#16

Seriously, Is Bitcoin Dead?

Disclaimer: All contributors to the Ultimate Money website, related social media sites and other publishing platforms pride themselves on giving fair and balanced information on all aspects of the cryptocurrency industry. However it is very important to understand that we are NOT providing financial advice. Ultimate Money, it’s contributors and service providers are not Financial Advisors or Registered Analysts. We do not offer Bitcoin or crypto tips, strategies or trading models for you to copy. We merely provide opinions and education so that you can Do Your Own Research. Cryptocurrencies have a history of volatility and Ultimate Money is not responsible for any financial losses or gains you may have when investing in any crypto coins or related projects. Always use your best judgement when investing in any exchanges, wallets, CFD’s or other products.  Always be aware that any investment can go to zero.

  • About Us
  • Contact Us
  • Risks
  • Terms
  • Privacy

Copyright © 2018 All rights Reserved Ultimate Money

No Result
View All Result
  • Home
  • About Us
  • Bitcoin
    • Bitcoin Price Chart
    • Bitcoin Latest News
    • What is Bitcoin?
    • How To Buy Bitcoin
    • Bitcoin Wallets
  • Cryptocurrency
    • Crypto Latest News
    • Crypto Coin Reviews
    • Cryptocurrency Education
    • Cryptocurrency ICO
  • Exchanges
    • Top 10 Aus Exchanges
    • Top 10 Overseas Exchanges
    • Coinspot Review
    • Binance Review
    • Bitmex Review
  • How To
    • Get Started – Crypto Intro
    • How To Buy Crypto
    • How To Store Crypto
    • How To Mine Crypto
    • How To Bet With Crypto
  • Podcasts
  • Contact Us

© 2018 All Rights Reserved Ultimate Money.