Brock Pierce is a US entrepreneur, investor and a public speaker, co-founder of Blockchain Capital, chairman of Bitcoin Foundation. He’s also a founder, board member or advisor for several Bitcoin companies.
Brock Pierce talks to Cointelegraph about the matters of Blockchain future development, Bitcoin price and gives some advice of how to deal with the ICOs.
BP: I’ve been in the digital currency space since the late 90’s with video games like World of Warcraft and Second Life. I was the primary market maker with 400,000 people in China playing video games to mine digital currency, which naturally led me to Bitcoin and Blockchain. I’ve been working full time in the space since 2012 and affiliated with a lot of projects.
Bitcoin price performance
The Bitcoin price has actually been pretty resilient in light of all of the recent developments specifically in China and South Korea, as well as the hard fork. I mean it’s very impressive how well the Bitcoin price has been able to hold up, which also means we could see a continued increase in price just due to the increased demand. If you want to follow Bitcoin price information, I recommend Spencer Bogart’s research for Blockchain Capital. I think he does the best work when it comes to Bitcoin price analysis.
CT: What is the ideal price for Bitcoin to strike a balance between growth and stability?
BP: Well, the Bitcoin price is not really connected with the technology. The Bitcoin price is the primary barometer of sentiment, which actually has nothing to do with the fundamental performance of the technology. The technology itself has pretty consistently been improving- it’s going to continue to do so. But the prices we’ve seen over the years really is completely disconnected because it’s an emotional thing, it’s driven by sort of by market sentiment, so it is very difficult to predict that. I am not a trader, but I keep both Bitcoin and Bitcoin Cash. If you have forked coins, I recommend not selling them because it’s unclear how that development will evolve over time and there may even be a third Bitcoin.
My advice to anyone listening is until you really have a strong opinion about how those markets are going to develop the safest thing to do is hold. Or if you lose confidence – sell, whatever you want to do. The best thing is- don’t listen to anybody else’s advice. I don’t ever tell people what to do with their money or what to invest in. All I do is give people information so that they can make their own informed decision…