And bit stamp.
You bought and sold some just as a speculative venture?
I think the property way to think about it for now is as a commodity, not as a currency, because a currency requires price stability, and bit coin doesn't have that, but it is a great way to diversify from sovereign conscious success.
Ought but did you buy that just because you wanted to know what it was like?
You wanted to test this out?
Yeah, first and foremost, i wanted to test it out and see what it was like, and then i started taking advantage of the volatility and started trading bit coin.
So why not gold?
I mane, that's a more liquid market.
It's not currency, and it has a lot of keanlts in terms of trading that bit coin doesn't. right, well, so far the only way to diversify a way from fiat currency has been representative currencies like gold and silver, which have physical and materials not controlled by sovereigns backing them.
But as diversification value only, bit coin is superior.
If you take the industrial value of gold and you subtract it from the trading value of gold, what's remaining is the diversification value of gold.
That's the value that they can gifted over the long term.
With a lot of volatility, it will trade similar to gold, and it will be a viable way to diversify away from conscious sits.
Maybe gold is not as sexy, but look, are you going to do anything, you know, with this knowledge now that you have of bit coin, are you going to do anything with it?
Are you going to buy any companies that are using bit coin or where is the business side of this for you?
For me personally, i'm using bit coin purely as a commodity, not as a cancer a. i have no interest in buying something with bit coin, because everything i want to buy i can buy with u.s. dollars.
Right now as i said, the issue is to use it as a cancer a, it doesn't have the price stability.
U.s. dollars have the price stability.
But maybe in the future when bit coin is more established, you wouldn't worry so much about bit coin's price stability against the dollar, and you'd worry about the dollar's operate stability against bit coin.
With your personal speculative estimates in bit coin, i'm curious about sort of where you're looking in technology as an investor right now of bain capital.
So i invest in software infrastructure.
That makes virtualization, developer tools, and platforms, and so a couple of themes i invest in.
Number one, i like software that comes into organizations through the floor boards, which means that you don't have to go to the c.e.o. or someone who works for the c.e.o., but rather a software engineer in an organization downloads a product, likes it, builds something important with it, deploys it, and then buys the product.
The same way the ipad is byod in silicon valley, this is bring your own software.
Yes, in through the floor boards.
So give me an example.
For technical products, open source is a good way of doing this.
Databases and performance tuning tools and cashes, all these kinds of technical products are delivered as open source, and they can come in through the floor boards.
For nontechnical products, where the buyer is a nontechnical person, then they come in is assess.
We got to jump.
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