Bitcoin Remarks
“The bitcoin is a currency that can be perfectly free from government interference, and the bitcoin will provide greater efficiency and stability so anyone can use it,” said Memorydealers.com founder Roger Ver at the 5G Global Summit, a special event of the ITU Plenipotentiary Conference 2014 that opened in Busan City on Oct. 20.
During his speech on the utility of the virtual currency, he added that he used bitcoins to book a hotel and do many other things in the city. He also mentioned mobile payments and the competition between finance and ICT. “The bitcoin is one of the greatest inventions in the history of mankind, and it is highly advantageous in terms of convenience, durability, equality, mobility and a lot more,” he stressed.
He explained, “The coin is an Internet protocol, not a company, and thus can be freely installed on smartphones along with the information relating to it. The coin is unlikely to be forged, has a scarcity value, and can be split and stored with ease.” He also mentioned universality and encryption as two of the other advantages of the bitcoin. “I used the bitcoin ATM in Seoul and could change Korean currency,” he added, “Thousands of such machines will be appearing next year alone in China, Europe, Russia, and the United States.”
According to Mr. Roger Ver, the bitcoin cannot be restricted by certain organizations including government agencies. This, however, also implies that nobody is responsible for it. Roger Ver himself gave advice in August this year in this context, saying that the virtual currency is neither issued nor guaranteed by the government and may be targeted by hackers and fraudsters in some cases. The hacking damage associated with the bitcoin exceeded 100 billion won (US$94.9 million) last , and the currency has been misused in various criminal activities.