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00:00HE IS THE CEO OF BITCOIN.COM. THANKS FOR JOINING US. THE ANCHOR ASKED HOW SAFE THIS IS OR WIRE HOW CAN WE TRUST BITCOIN? > > WITH TRADITIONAL CURRENCIES YOU HAVE TO TRUST A BUNCH OF POLITICIANS HAVE NEVER MET AND THEY CAN RENT AS MUCH AS -- OF THAT MONEY AS THEY WANT. THEY TRUST THE LAWS OF THAT MUCH MORE THAN SOME POLITICIAN. > > JAMIE DIMON SAID IT WAS A FRAUD AND SAID HE WOULD FIRE ANY OF HIS TRADERS WHO INDULGED IN BITCOIN. > > THEY DO NOT UNDERSTAND. BITCOIN , YOU CAN SEND OR RECEIVE ANY AMOUNT BASICALLY FOR FREE AND THERE IS NOTHING ANYONE CAN DO TO STOP IT OR BLOCK IT. IT CAN OPEN A BITCOIN ACCOUNT IN SECONDS. YOU DO NOT HAVE TO GIVE YOUR NAME OR YOUR FIRST OR AND CHILD. YOU CAN DO IT IN 30 SECONDS. > > WHERE WILL IT BE WITH REGULATORS TAKING KEY -- KAINE INTEREST? -- KEEN INTEREST? WHAT IS THE NEXT STEP FOR REGULATORS AND WHAT DOES IT DO FOR THE DEVELOPMENT? > > ANY SMART REGULATOR WOULD EMBRACE THIS TECHNOLOGY. BITCOIN IS ONE OF THE MOST IMPORTANT INVENTIONS IN THE HISTORY OF HUMAN KIND. THAT IS HOW BIG OF A WORLD CHANGING INVENTION THIS IS. ANYTHING THAT CHINA TRIES TO BAN IS SOMETHING YOU SHOULD INVEST IN. ALL THESE THINGS ARE -- BITCOIN NEWS ON ITS WAY. > > CHINA CONTROLS A LOT OF THE -- IT IS CENTRALIZED AS WELL. MANY OF THE MINERS ARE CENTERED THERE. WHAT IS THE CRACKDOWN BECAUSE IT IS SO CENTERED? > > IT IS LIKE A BALLOON. IF YOU SQUEEZE ONE AND ALL THE AIR FLOWS TO THE OTHER SIDE. BITCOIN IS HERE TO STAY. THE ONLY WAY TO STOP IT IS TO TURN OFF THE INTERNET AND KEEP IT TURNED OFF. > > WHAT ROLE CAN THEY PLAY BECAUSE IF IT IS DESIGNATED IT IS GOING TO BE UNDER THE STRICT REGULATION OF SECURITIES REGULATION. > > TRADITIONALLY HONG KONG HAS IN A BEACON OF ECONOMIC FREEDOM AND I WOULD LOVE TO SEE THAT CONTINUE TO BE THE CASE. > > HOW ABOUT YOUR PERSONAL HOLDINGS, BECAUSE OF THE POSSIBLE SPLIT WE SAW. ARE YOU MOVING INTO THE COIN CASH? > > THAT COIN CASH IS MUCH MORE ALIGNED WITH THE ORIGINAL VISION OF BITCOIN. WE SUPPORT THE BITCOIN CASH AND LEGACY BUT I AM A BIGGER FAN OF BITCOIN CASH. IT HAS BEEN AROUND A MONTH THAN A WEEK. THE LEGACY VERSION HAS NINE YEARS WORTH OF INFRASTRUCTURE BUILT UP THIS IS THE BIGGEST CRYPTO COIN AND THAT IS A PRETTY DARN AMAZING START. > > BID 91 WAS THE FIRST LEG OF THAT. IS THERE ANOTHER SPLIT LOOMING? > > THERE ' S GOING TO BE ANOTHER SPLIT BUT FROM MY POINT OF VIEW THAT GIVES ME MORE COINS THAT I CAN SELL FOR THE BITCOIN CASH VERSION. IT HAS LIMITED SUPPLY BUT YOU CAN MOVE IT ASKED HER AND CHEAPER THAN ANY OF THE OTHER ONES IN THE WORLD. I AM A FAN OF BITCOIN CASH. > > WHY DOES CHINA CRACKDOWN ON THE MINING, WHAT LASTING EFFICACY WILL THAT HAVE? > > NOT MUCH AT ALL. MORE MINING WILL TAKEN PLACES OUTSIDE OF CHINA. IF CHINA SAID OK WE WILL NOT MINE GOLD ANYMORE IN CHINA MAY BE THE GOLD PRICE WILL GO UP BUT PEOPLE WILL MINE GOLD IN OTHER PARTS OF THE WORLD. > > ARE PRICES HEADED TO A RECORD? IT IS ON THE WAY BACK UP. > > I HAVE BEEN IN BITCOIN FOR SEVEN YEARS. I REMEMBER WHEN IT COIN WOULD GO FROM TWO DOLLARS TO $10 AND THREE DOLLARS IN THE COURSE OF A COUPLE OF HOURS. THE PERCENTAGE SWINGS WE ARE SEEING, THAT IS HUGE. IF YOU HAVE AN IN BITCOIN A WHILE. THE TREND IS UP. YOU HAVE TO FORMS OF MONEY AND YOU DO NOT HAVE TO BEG FOR PERMISSION TO USE AND YOU HAVE TRADITIONAL LEGACY FORMS ARE YOU HAVE TO ASK POLITICIANS FOR PERMISSION TO USE AND YOUR ACCOUNTS CAN BE FROZEN. IT IS CLEAR SO THE FUTURE OF THE COIN IS BRIGHTER. > > WHEN IS THE NETWORK EFFECT KICKING AND WHEN YOU GET THE LARGE ENTERPRISES AND IT HAS CRITICAL MASS WHICH WILL TEAM DOWN SOME OF THAT VOLATILITY AND SPIKE GAINS IN PRICE DROPS. WHERE ' S THE CRITICAL MASS APPLICATION GOING TO BE FIRST? > > THE APPLICATION IS MONEY. THE BIGGER THE MARKET CAP IS THE SMALLER THE VOLATILITY WILL BE. WE ARE A FEW YEARS AWAY FROM THAT. IT IS COMING FAST AND FURIOUS.

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Bitcoin.com's Ver Says Future Is Brighter Than Ever

Roger Ver, chief executive officer at Bitcoin.com, discusses the safety of the cryptocurrency, his outlook for the technology, Bitcoin Cash and where prices are heading. He speaks on "Bloomberg Daybreak: Asia." (Source: Bloomberg)

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