A Wild Ride for Bit­coin Prices

THREE QUES­TIONS FOR ANDY BRYANT, CHIEF OP­ER­AT­ING OF­FI­CER OF BITFLYER EUROPE, THE JA­PANESE OP­ER­A­TOR OF THE WORLD'S LARGEST BIT­COIN EX­CHANGE AND FIRST TO BE REG­U­LATED IN JA­PAN, THE US AND EUROPE.

Silicon Luxembourg - - NEWS -

HOW DOES BIT­COIN, SOME­THING THAT'S ES­SEN­TIALLY IN­VIS­I­BLE AND IN­TAN­GI­BLE, HAVE VALUE?

Bit­coin has value be­cause peo­ple be­lieve it has value. It's the same with many as­sets, in­clud­ing gov­ern­ment-backed cur­ren­cies, which haven't been linked to gold for a long time. Some might say that it is the gov­ern­ment back­ing it­self that pro­vides value, but then I would ask a Venezue­lan what they think about that.

There are plenty of things that have value that are in­tan­gi­ble. What about in­tel­lec­tual prop­erty or brand value? Just be­cause you can't hold it in your hand, doesn't mean it doesn't have value.

WHY IS BIT­COIN USE­FUL?

It is the abil­ity to trans­fer value se­curely across an in­her­ently un­se­cure net­work, such as the in­ter­net. The tech­nol­ogy un­der­pin­ning Bit­coin, the blockchain, has the po­ten­tial to do for value ex­change what the in­ter­net did for in­for­ma­tion ex­change.

HOW MUCH COULD A SIN­GLE BIT­COIN AC­TU­ALLY BE WORTH?

We don't take of­fi­cial po­si­tions on price, but we think Bit­coin is here to stay!

BITFLYER BE­CAME THE WORLD'S FIRST BIT­COIN EX­CHANGE TO BE REG­U­LATED IN JA­PAN, THE US AND EUROPE!

ANDY BRYANT

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