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.
(Featured Image: Andy Bryant, COO of bitFlyer Europe / Image Credit © bitFlyer)
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.
What is Bitcoin utility?
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!