Tech entrepreneur Zhenya Tsvetnenko says the future of Bitcoin is stable, with collapse of Mt Gox, the world's largest Bitcoin exchange, giving his company an example of what not to do.
Zhenya is no fool. The negative posts here totally ignore the outstanding quality of the DCC board. If I've learnt anything from many years of being a stock market student, it is that success, - and failure, - is all about management. Reading the resumes of the directors, it is hard to imagine a more competent and enthusiastic team.
I've learnt to listen carefully when MD's speak. Sometimes gems are passed over quietly. As a listed company the team has to be very careful what they say. Onerous continuous disclosure rules mean they have to be extremely careful of making forecasts. So yesterday when 25% shareholder, chairman, driver and self-made success story Zhenya Tsvetnenko said; "The June results will speak for themselves.." I paid attention.
It is very interesting that the bitcoin price is so strong, when buyers today know that there will be a large auction of bitcoin at the end of the month by the US Marshalls. Obviously buyers today don't think that the price will be cheaper then.
The Apple app just released, 'coin pocket', will make it ridiculously easy for anyone to pay or receive bitcoin. Just as most people have no idea of how ordinary money markets work, nor do they need to know how bitcoin works, - with an app like coin pocket. But they will notice the lack of fees in transactions.
DCC Price at posting:
35.0¢ Sentiment: Buy Disclosure: Held
