Bitcoin: “It’s for people with nerves of steel”

Bitcoin: “It’s for people with nerves of steel”

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What happens with the bitcoin digital currency? Oliver Flaskämper, founder of the commercial platform Bitcoin.de, says in an interview  about the current demand for this currency.

Q: Everyone talks about bitcoin currencies. Is it worth getting into the business?

Oliver Flaskämper: Although I am a bitcoin fan, I have not recommended it to anyone until now, even warning of the possible dangers. I always say that when they want to do something in this sector, they should be well informed first and not just invest. The bitcoins are for people with nerves of steel, not for people with a savings book or with a private pension plan.

What is the use of bitcoins, besides waiting for the money to multiply?

My definition of Bitcoin is digital gold with the option to pay. In theory I can pay for bread at the bakery with the bitcoins, but also a house and a car. The people have already done it. I do not do it, because I know that the long-term quote will increase, because everything related to bitcoin is inflationary.

Now it makes me angry to have paid with the bitcoins. I would have liked not to have spent them (laughs).

Is there no hope that it will be paid more often with bitcoins?

No. Not for me anymore. Bitcoin will not become a daily payment currency. I say no, even if the critics have another opinion. There are other cryptocurrencies more suitable to pay. The bitcoin will be digital gold, then there will be some as well as digital silver, with which you can pay daily.

But why is it problematic to pay with cryptocurrencies?

Most cryptocurrencies have a limitation on the amount of money. There are only a number of units, so I do not think they are a good option to pay daily.

Cryptocurrencies do not have a good reputation. With this bitcoin fashion, will not there be people who want to take advantage?

As always, when something goes very well, there are usually many opportunists. You have to be well informed and not click on the first Google ad that we see, but read articles in Wikipedia. There is a bitcoinwiki with a lot of information.

Does it think plausible that conventional currencies will eventually be replaced by digital currency?

I believe that cryptocurrencies will increasingly be an indicator for state currencies. There are many plans for cryptocurrencies. States will try to contrast something with cryptocurrencies. To better control the money supply.

To counteract economic crises, states simply need a currency, which they can manage where necessary. In general, I do not think that the cryptocurrency will replace the state currency, but they will remain parallel currencies.

Bitcoin has multiplied tenfold in a single year. Why do you think this euphoria has occurred?

For me it’s nothing special. Only the figures have changed. The first “hype” was the maximum level of € 20. It was incredible from the perspective of then, because after the price went down to two euros, in a matter of a year and a half.

The second “hype” we had with a quote of 200 euros. It was then a bubble and it still is. Only the values have changed and there are more people now who are interested and invest. From my point of view, we will see that many bubbles will explode and there will be many quotations records. The bitcoins came to stay.

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