[Audience] What determines the purchasing power of Bitcoin? How is the price stable, or what is needed to stabilize it? If I want to buy some bitcoins, can someone manipulate the price? [Andreas] Everyone decides the price [Laughter] Just like the purchasing power of the Euro, the purchasing power of Bitcoin is the same determining mechanism The price determination mechanism is the same as for the British Pound, Japanese Yen, and US Dollar: Operate around the clock in the international liquidity market through the power of market supply and demand One of the basic differences between them: Bitcoin transactions never stop It has been running for seven consecutive years The network never stops.
On average, every ten minutes, Bitcoin blocks and transactions are processed The transaction has never been interrupted, and there is no closing price for Bitcoin This is a rolling average. Currently, a market with a market value of approximately US$12 billion operates internationally What does the $12 billion global currency represent? It's like a guppy swimming in shark-infested waters Every trader, every large trader, enters this market, causing the price of Bitcoin to fluctuate. So far, I have been engaged in full-time work for more than three years and live on Bitcoin This market is a roller coaster This is an absolute roller coaster I have seen 20% or 30% price fluctuations in a day However, if you observe the long-term trend, the number and volume of Bitcoin transactions are slowly increasing, while the volatility continues to decrease The fascinating thing is… I won't sell to U.S. or British citizens I don’t need to sell to Argentines, Brazilians or Venezuelan citizens I went to a conference in Argentina, and the Argentine told me: "I don't worry about volatility." "Our currency has been depreciating.
Bitcoin has always been appreciating. I prefer to hold Bitcoin. No need to instruct them on the advantages of Bitcoin Just 35 years ago, their government threw people off the plane because of different political opinions They already know why it is a good idea to separate government and currency Therefore, volatility is relative.