One of the currency hedge fund, Pantera Capital encryption is the earliest American CEO Dan Morehead (Dan Morehead BNN) in an interview with Bloomberg about bitcoin and its case. He also talked about the current widespread problems in the financial system, he believes that these problems can be solved by bitcoin and other encryption currency.
Morehead first talked about why encryption currency industry is still worthy of attention. He said that a disruptive technology can be regarded as a killer, “bitcoin is a serial killer”. Nevertheless, the CEO said, encryption currency is currently “not very good”, but it is on cross-border capital flows are very good. He added:
“Have a means of storing wealth is very good, especially if you live in a very popular currency devaluation or capital controls in the country.”
Morehead said, the main case of bitcoin is to work in other countries of immigration, they want to send money home. While the use of encryption currency fee “is basically free”, and is immediate, it is completely different from the typical transfer fee.
He also talked about the current financial system and other bitcoin digital currency will solve the problems of the. He said that in the process of transfer funds from one place to another in the process is very slow. He added, pick up a suitcase with cash, fly to the destination will be easier because it transfers faster. However, there are coins, money can be sent in a few seconds, and “basically” is free.
“This is actually the routing in a very slow and expensive to pay on the track. Can you think of it as the rest of the internet protocol, all things to subvert the communication business, almost in our life, and they do not involve the bank, does not involve credit card, does not involve the remittance. This is bitcoin do.”