Attitude of Millennial Generation towards Cryptocurrency

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New folder/Angelica Jameinson.docx

SpeakerP	-	What is your name?
SpeakerA	-	Angelica Jamienson
SpeakerP	-	Your date of birth?
SpeakerA	-	1992
SpeakerP	-	Do you have any knowledge of Cryptocurrency?
SpeakerA	-	On an all cryptocurrency is digital currency probably used for online transactions.
SpeakerP	-	As in I don’t think you have any experience in cryptocurrency.
SpeakerA	-	Unfortunately, I don’t have much experience in using cryptocurrency because maybe I don’t trust online sources much sometimes.
SpeakerP	-	Any specific reason for not trusting them?
SpeakerA	-	Well, its quiet risky as there are high chances of getting hacked or probably not getting what you are been promised.
SpeakerP	-	What do think of investing in stocks or bonds?
SpeakerA	-	I find investing in stocks or bonds quiet interesting. It’s like you should know which proper company you should invest and keeping in mind economic and financial status. It is almost a gamble. You should know how to play your cards well.
SpeakerP	-	So how do you feel that investing in crypotocurrency is it different in comparisons to stocks and bonds.
SpeakerA	-	Unlike traditional investment, if crypotocurrency is not used, quiet often the value goes down, so I don’t think crypotocurrency falls in the same category as traditional stocks and bonds.
SpeakerP	-	Ok. Have you heard about Bitcoin?
SpeakerA	-	Yes, I have. I think it is a strategy that is advancing in the world but since I am not well versed in it and I have heard recent fall in Bitcoins. According to some analyst it is at a panic selling of Bitcoins that could contribute to its fall.
SpeakerP	-	So do you think it shall affect your decision in future to invest in it?
SpeakerA	-	Yes, I think it will affect my future decision.
SpeakerP	-	Ok. If you decide to invest into cryptocurrency ,so what factors will you take into consideration?
SpeakerA	-	Probably keeping a high security of whatever digital technology I use and probably checking it often and seeing whether I am gaining any profit from it or not.
SpeakerP	-	What do you think about the technology which is being used in cryptocurrency?
SpeakerA	-	You mean blockchain technology, yes I am not very familiar may be, it is I suppose we have permanent public and transparent ledger system if used in these cases.
SpeakerP	-	So you think blockchain is used as public ledger in cryptocurrency. What do you think about its usage in any other sector?
SpeakerA	-	My guess in political sectors may be? That’s all I know. I am not quiet into it yet.
SpeakerP	-	Ok, fine. What do you think about change in investing pattern over the years in cryptocurrency to your previous generations.
SpeakerA	-	Yes, I feel there is a change in investment pattern in comparison to mine and my previous generation.
SpeakerP	-	So what do you think, what kind of a change is it?
SpeakerA	-	Well they preferred to invest in tangible assets like gold or property as it could be transferred to their future generations. As it is felt, like it is more secured to see it physically any asset before buying it. And where else in our generation, which doesn’t mind taking risk in cryptocurrency and any other digital assets which is virtual in nature.
SpeakerP	-	So if given a choice should you prefer to trade in investment options which were traditional or you mind investing in cryptocurrency.
SpeakerA	-	If I have a choice between cryptocurrency and traditional investment I’d rather stick to traditional.
SpeakerP	-	So what according to you should any rule or standard be induced into cryptocurrency for, to make it be possible for you or future generation to invest into it?
SpeakerA	-	Maybe if it was more explained and more details and if there was more security and maybe if it didn’t come up in random shady pop-ups I guess, that will make me invest.
SpeakerP	-	So given proper knowledge or courses are conducted or there are classes. The way there are trading classes for stocks, so if you are given proper knowledge about cryptocurrency.
SpeakerA	-	Yes, if I was given proper knowledge for it, I guess maybe I would go for it.
SpeakerP	-	What do you feel about the legal status as in should cryptocurrency be given a legal status just like the liquid cash or paper cash we have.
SpeakerA	-	I don’t think that’s a very good idea for cryptocurrency to become a legal currency, because it can be misused into like black money like the way they do it with liquid cash.
SpeakerP	-	Do you think cryptocurrency has the potential in wealth creation?
SpeakerA	-	Well yes, it might have potential of wealth creation but since it is in a growing state and wealth creation will not be as much as it's in equity or bond. In equity, you get a certain amount of dividend half-yearly or yearly and in bonds, you have invested a certain amount along with interest for a number of years you have invested in bonds on maturity.
SpeakerP	-	Would you think what kind of social impact has on cryptocurrency created on the new generation?
SpeakerA	-	Youngsters are thinking its an easy source of cash inflow so, they are learning more on how to trade it and use cryptocurrency but if it falls in future it will a negative impact on them. As their easy source of money will be stopped.
SpeakerP	-	Okay. Thank you so much for your contribution.
SpeakerA	-	Thank you so much.

New folder/Anshul Garg.docx

SpeakerP: What is your name?

A: Anshul Garg

SpeakerP: And what is your birth year?

A: 1993

SpeakerP: And do you have any knowledge about cryptocurrency?

A: Yes I have been doing crypto trading and all for last 2 yrs now

SpeakerP: So how was your experience in trading with it?

A: Started normally then it went on very well because you know Bitcoin prices was fluctuating too much and now things are very bad so experience had been good earlier but now its not too good.

SpeakerP: So before, initially when u decided to invest in cryptocurrency what did you see into it as in

A: Well when I started investing in cryptocurrency it was like a mid of 2017 so at that time crypto was still new and it was one of the highly one of the highest revenue generating industry so that is what you know attracted to me and I started doing it that way

SpeakerP: So in future do you plan to continue trading with it?

A: Yes yes so I am doing it right now as well.

SpeakerP: So you are doing it in Ireland or?.

A: Yes, I m doing it in Ireland yes

SpeakerP: So you are doing it in Ireland so how is it in Ireland ?

A: So do you want to know the difference between Ireland and other countries?

SpeakerP: Ya

A: So the market is like global market so it is same everywhere the only difference is the exchange rate at which you buy in this country and that country. But if you see people like how many people are demographically investing in Ireland, there are not too many right now because things are quite bad for bitcoins but in like 7-8 months from now things are foreseen to go good.

SpeakerP: And what’s your idea about the traditional investment methods like stocks and bonds?

A: Stocks and bonds are safer I would say but then again less risk and less profit and cryptocurrency is not at all safe like not at all safe but profits are huge and losses are also huge.

SpeakerP: Okay.. So as we know that the Bitcoin has fluctuated a lot so what do you think was the reason for the sudden rise and then fall?

A: The bitcoin as not supposed to be so much at hype but it went because of the news and this was something new which came into the market and usually wherever something new comes to into the market it goes upto a big boon and settles down to its normal value and works back and forth. Bitcoin just got a lot hype and everybody in the world not like too much I wouldn’t say too high share of people but ya considerably high share of people entered into bitcoin and that is why it went up but now things have settled down again like it rose to 15—19000 dollars in 2017 November and December and now it is again on 3200 dollars again so but things are going to be very good again because this is how bitcoin works it shoots up again and goes down then again shoots up and then goes down.

Speaker P: So will it affect your decision in relation to investment in future or you will continue to trade as in you know the nature?

A: The investment decision always effect you know whenever the price goes down but the-the main thing which we have to understand in the crypto world specifically not in the terms of investment only but the crypto world is that if you are investing in crypto don’t think to move out and whenever things go bad like you know bitcoin prices go down by more as much as you can because things will swing up badly and that is the time when you are making up profits.

SpeakerP: So before investing what are the factors which you look into as in the cryptocurrency trading?

A: The two basic things which are mostly seen by everybody first is the upcoming events or upcoming news or advancement in a particular coin not only bitcoin but any other cryptocurrency and the second thing is the team like you the background team behind the company or coin whatever I would say because there have been cases when the idea was good enough but the team was not strong enough so that didn’t work and then there was a few coins which was idea was not too too strong but the team and the PR team was so good so good that they just made like 12000 percent profit. And 12000 percent is huge.

SpeakerP: Ok so any aspect regarding to the security or the transparency, regulation?

A: Well that is the main feature of blockchain. Blockchain is a technology on which these cryptocurrencies are working on and security and transparency is the main feature which it actually provides. That is why now block chain is used more than I think in 19 or 20 industries including banking transactions may be flight booking, may be a movie is made here or whatever. Secure of course it is because there is no possibility of faking any transaction. Everytime a person makes a transaction from one person like if a person is sending some money some bitcoins to person b then that transaction is registered into 6 different locations in the world. They are verified from there and everybody on the block chain will have a entry of this transaction so even if the person (a) or (b) wants to forge this they cannot do it because everybody else knows about it. If they want to forge it they will have to go to each and every director in the world and changing is not possible so security and of course everybody knows that that’s why it isa transparent type.

SpeakerP: So you are saying that it can be safer for any other sector

A: It is safer for every sector and safety and security is the main feature which block chain is providing that is why everybody now is thinking to move on block chain.

SpeakerP: Okay.. and coming to the investment pattern over the years, now do you think it has changed in comparison to your previous generations.

A: Earlier generations were not too much into investment because you know it was late sixties or seventies but now if we talk of our generation which is called generation Y. So like 80s and 90s and all. So people are now more into investment maybe mutual fund kind of investment because advertisements are so much now that you know about them and earlier you didn’t know and now cryptocurrency is something new in that everybody is now fascinated about cryptocurrency investing and making profits. People have become now more active and more watchful about investments.

SpeakerP: What do you think about investing in gold and property?

A: Like do you want me to compare about these?

SpeakerP: Ya as in

A: Again it is same like the stock markets. Gold and property is safe but then the profits are not huge. Like even if you invest in property the best case it could go in is like it can go twice after a couple of years. In cryptocurrency you can go 1000 times.

SpeakerP: So in future you will invest only in cryptocurrency or anything related to technology or you will go for uh?

A: No I would invest in cryptocurrency and block chain both. Cryptocurrency is like again trading and block chain is like investing your money in some development in block chain only.

SpeakerP So you will not go for the very old way?

A: No no no absolutely not.

SpeakerP: And coming to the standards in cryptocurrency there is no proper regulation. So do you think there should be anything induced into the..?

A: Of course yes. Because if you see in all the countries in the world, few countries have legalized cryptocurrency and most of us have not you know heard any updations on legalities that is the problem which is happening right now. This is why I am having a question while bitcoin prices fall and rise. If a big country has some regulation a negative regulation like something got banned somewhere. The prices fall down immediately if it is regulated everywhere if it is legal everywhere things will not be too much fluctuating afterwards and yes it will be beneficial also. Legalization should be there as fast as possible.

SpeakerP: So legal status will increase the..

A: Of course yes. Like in Japan if you know it is legal and even if you want to go and pay to a restaurant in Japan, you can pay by Bitcoins. It is legal there but in India, if you go for or in any other country it is not, so people have still barriers. And legalization if it happens it will really benefit and it will help in growth, it should be legalized as far as possible.

SpeakerP: Okay Thank you so much.

New folder/Avdesh Goyal.docx

SpeakerP	-	What is your name?
Avdesh	-	Avdesh Goyal
SpeakerP	-	What’s your birth year?
Avdesh	-	1993
SpeakerP	-	Do you have any knowledge about Cryptocurrency?
Avdesh	-	Yes, I know the basics of cryptocurrency and how it functions and what basically goes in behind, what is cryptocurrency, Bitcoins & any other coins and what goes behind the basics and I have a good idea of cryptocurrency.
SpeakerP	-	Do you have any experience in trading Cryptocurrency?
Avdesh	-	Oh, Yes I did trade in Bitcoins when they were at a good pace in rising. Bought it around 9000 USD. But I bought it in I mean another currency and not in Euros but another currency at 9000 USD and waited for a long to go up as they don’t rise in a very good pace and I sold off as the graph started falling. I sold off at round about 11,000/- to 12000/- USD so yes, I have a good experience in cryptocurrency trading. Whey they were at their peak.
SpeakerP	-	So now after the Bitcoins value has reduced so do you plan to invest in cryptocurrency in future?
Avdesh	-	So when I first purchased Bitcoins I did not have that much of knowledge of cryptocurrency & crypto technology as a whole but that I read a lot about how things work of basically functions and for me the whole ideology of cryptocurrency has changed. For me it does not measure investment but as if now but for me it’s a future technology which everybody should venture and focus on that technology. For me it’s a biggest economic changes in terms of modernization of how we trade so I mean I would like to trade in Ireland or where I will do that. But not as if now it’s I still believe in developing stage. It’s not evolved as it should be because of the sudden rise or fall of it. I think it should have growen naturally or organically but that sudden fall has completely changed the cryptocurrency.
SpeakerP	-	And what do you think about traditional ways of investments like stocks and bonds?
Avdesh	-	While Okay. So if you consider, so will just focus on stocks first and then talk about bonds. As stock market is definitely more stable than crypto’s market. And again both of them are completely different from each other and one is cryptocurrency is completely new technology which focuses more on the base of transaction for most of the years. For many years it has been a currency than normal money. But cryptocurrency has changed that but money has been or currency has a potential to change that. But money or currency has been mode of transactions for the longest of time. First, it was barter and money transactions which somehow is represented by stock exchange by your trade. Basically what stock exchange is money but in digital form. And crypto-technology is also your currency. It’s also in digital form but it also differs by it’s very basics of stock is your money but base of cryptocurrency is your data, your mining and source of origin which basically has stock exchange has given which could be said as power of in one particular single hand as one person. Let say if a stock of a company it depends on the rise or the fall of very few limited people. They control, they have the power of one day they could announce and the price of the stock could fall or rise. And they have their own power but in case of cryptocurrency power lies between each individual has their own system from which they mined cryptocurrency each individual has the power but that power is not centralized in one place. As you are talking about traditional or cryptocurrency traditional and being centralized, whereas cryptocurrency basic idea is a de-centralized and bonds are much more secured even than your traditional stock market plus bonds are issued by Governments or even if they are, issued by companies they are backed by heavy securities. Well in case of cryptocurrency is not backed by any securities so risk margin is way more in cryptocurrency so the returns also in cryptocurrency is a thing that could be used for transactions more than just an investments tool. For me right now traditional stock market is amuch safer bet than and to get return in it in future. And cryptocurrency will take much long to fully develop.
SpeakerP	-	What do you think of Bitcoin’s current situations in the market? What was the reason for it’s rise and sudden fall?
Avdesh	-	Ok. So I think it has the two parts of the question. One is current situation and second part is sudden rise and fall.
SpeakerP	-	The reason for sudden fluctuation is..yaa?
Avdesh	-	Currently the graph is falling still. The percentage point of fall is less than what happened two years ago and I think again I am saying as if only genuine buyers are interested in cryptocurrency who knows what technology that and they know how they can get return out of it. I am not talking about monitory returns, but how they can use this technology for their own benefits or to have better more secure way of transaction. Ok. So then it will have a better future and better growth in near future. And if you talk about the rise and fall which has been in last year so I believe in that theory which is going around that. Cryptocurrency was a major threat to the traditional way of banking which we are doing, so basically when cryptocurrency is fully usable and many people are using cryptocurrency it will demolish our current banking systems will be ruined and being central part of transaction on daily basis would loose the whole grip on, as they are central part of economy and cryptocurrency has a potential to replace that. And once that is done that all your big banks like Bank of America & Bank of England will no longer be of use. And people right now in the center have way too have much power in their hands, centralized power and cryptocurrency would just change and so what I believe is those bankers inside trading in cryptocurrency will make a huge margin in short period in a gain of time. They themselves will start mining which means they added more systems in cryptocurrency which should lead to the rise of cryptocurrency value. You see it started in a very short term period seeing that to get their returns and once this thought that they have reached a certain point. All the bankers removed their money which means again number of miners will be reduced will automatically the value of cryptocurrency will fall automatically. Seeing that many people lost their money and all those people who have lost once going on will definitely no more believe in cryptocurrency. That I think will change a lot of people will go away from Crypto. That is their whole idea. So I am the believer of that theory. That’s their theory could nobody prove it right now. Many people got afraid of cryptocurrency and was the only way to get rid of it. I think that is the situation right now, unfortunately.
SpeakerP	-	So when you decided to trade in cryptocurrency, what factors and few decisions that you took?
Avdesh	-	As I just said I invested but I did not have much idea but right now I just invested to see the rise of it but returns could give me in short period that was the only meaning factor that lead me in investing cryptocurrency. But now while looking at it I will invest more gradually. Keep on investing more of money into that, I’ll be focussed on mining part of it rather than the investment part of it.
SpeakerP	-	What do you think about the security related to the trading?
Avdesh	-	It’s the more secured way of transaction ever made. It’s risky because again people will invest and re-invest in them which would again lead to the fall of cryptocurrency. But seeing the technology it is the finest technology humans have ever seen in terms of economic growth and this technology could be used in just not a way of transactions but replacement of money but it could be used in everything. Be used in your political system for voting so the technology is addition of what system do for a particular stream as it’s own value, it’s own power of work. You can use that in elections in voting, that in stock trading and almost everything which you use it. And the reason which is very secured because power doesn’t lie in one person it is de-centralized by everyone as their own system or own function power and could vote out individually remove people who are could pose a threat to the system or the functions of so that’s what it is.
SpeakerP	-	So you know about the technology which goes into it right so what is the name.
Avdesh	-	Sorry.
SpeakerP	-	It’s the technology which is used which is behind cryptocurrency. That I see that can be used for any other investment for other than cryptocurrency.
Avdesh	-	Block-chain is your technology which goes behind cryptocurrency or those cryptography as the whole what Bitcoins has done that, it has just diminished the Block-chain to just as form of money or investment to which I believe block-chain technology has so many wide range of uses. Just not limited to more of exchange but more of investment Bitcoins as again you are right let to people believe that it’s just the form of investment. Like stock or it’s completely different. It has so much depth in that could be used in anything. It could form your contracts which could receive into a contract to buy property in using tradition papers, it could be done on block-chain, cryptocurrency. I mean both the parties could enter to virtual systems and create their on Block-chain, which could be in the form of contract. Or the form could be the contract in form of Block-chain., so that’s not limited to just Bitcoins. Cryptocurrency has taken the form of Bitcoins because of it’s popularity that why million of users as it could be used as every form of transaction and will replace every tradition, Gold exchange rate could be in form of Crypto. Your any commodities, or any oil exchange could be done in form of contracts which could replace your oil agreement which is between countries which taken in form of Block-chain.
SpeakerP	-	Would it be safer for converting any for not having those legal agreements?
Avdesh	-	Yes, exactly as I said it is not based on any third party that contract could be forcing by third party which could be government or legal proprietary but Block-chain would just be between two people the reason of it to be safer would be done on a complete different technology of Block-chains. Two and two people only and no third party. There is no chance malice or kind of interference from not related to so it’s much safer more secure but riskier, risk of fake cryptocurrency that would be the only risk I see so far. Apart from that it is the safer thing ever.
SpeakerP	-	What do you think about the change in the investment patterns over the years and in comparisons to your parent's generation and in your generation?
Avdesh	-	You are talking about like within last 40 to 50 years.
SpeakerP	-	Yes.
Avdesh	-	Its been changing at a rapid pace ever. I think so generation our parents used to invest more in gold or property. They used to invest small amounts into gold and large amount used to invest in property. It is so risky there is no control over the prices of it and gold prices were completely depended on foreign exchange and intervention and government law and it was used to be believed that over the period of time gold and property would increase. But they forgot or they didn’t use their calculations in the valuation of money as the value of money of rupees 10 would be less than the net present value. They forgot that their form of investment was gold and properties I think at that time stocks or bonds was way more risky, so they used to invest in gold and property.
SpeakerP	-	Do you think your generation would continue into that as well.
Avdesh	-	No, no. I don’t think so in my generation people are interested in investing in gold or property. They are more likely to invest in stock market and hopefully people would be more inclined towards Bitcoins, cryptocurrency in a good way trying to use the technology in a long term. Not for short-term profits out of it but gaining long-term gains and using technology, trusting in technology to replace your current monetary system. Our parents couldn’t use that technology. First of all they couldn’t use this technology the form of investment not because the most of them are not very okay with, not very smooth with computer technology. You know what i mean.
SpeakerP	-	Yes.
Avdesh	-	They found gold basically they could see gold, physically see the property made them invest into them more likely. And the stocks and cryptocurrency was not virtual sorry. It’s virtual but not physically there completely digital. So which makes them more doubtful about that so, for us we think that we leave in that, we read and we have been taught those stock market we have been taught in colleges or as millennials as you’re topic is are more inclined towards that.
SpeakerP	-	You don’t mind experimenting in future with the technology up gradation in the investment form.
Avdesh	-	I am looking forward to it and people would take that and forget this last year or last to last year what has happened, rise & fall of cryptocurrency would forget that and have sure more trust on technology andwould be beneficial for the way it’s being for the whole human kind for being structured the way it being formed. No one actually knows who found it so it was.
SpeakerP	-	Yes, it was found in 2008.
Avdesh	-	____________ was believed to be the founder of it. If some people could get correct use of it is a dynamic.
SpeakerP	-	But as you know there is no regulation behind it at all or any standard you feel should be induced in the way the trading is done.
Avdesh	-	Oh. That’s the beauty of it. There is no government intervention, there is no bank needed which means we in future if we use this technology we won’t be dependant on them. Given the number of years of democracy, our government political views Right now it’s not best, very hard to trust them for obvious reasons and once we don’t need them would be more okay to more easily be able to do business as that will be more dependant on you. And the party which is interested and there is no third party no exchange, there will be no government intervention as is mostly it is positive but the risky part is people would be then able to trade sinful goods what I mean like drugs, weapons they would find a way to trade that as well and since it is all digital chance of tax fraud in that so someone is using cryptocurrency to trade in sinful goods could be tracked down easily. They have found the ways to do that and if any change in that technology is that you are asking changes in that system could be tracked down easily. Where sinful goods which would harm people could be more vigilantly kept in the eyes of all the crypto users still I don’t want any third party, the government or banks to come into the cryptocurrency that will spoil the whole method of trading. I don’t think they are more capable of mingling in business of other people and laws and rules which the government has brought in and caused more problems than solutions. But if in a way we could track down the mafia of the weapons and drugs or anything in a more better way to stop trading of those goods. So that would be good.
SpeakerP	-	So, lastly, do you think it should be given legal status or no.
Avdesh	-	Given all my answers of cryptocurrency I think I am pro crypto so I think every individual or government should now take this open-handedly and instead of intervening into this technology they should just focus on it right implementations, right ways to reach every person. People will be so rapidly developed that the people will not be dependent on anything. I think now any person if dependent on the rate of how the government is functioning to add the value of currency more. I mean if you see in the sense that your currency is just a paper which people have trust in that. If people loose trust in that the currency will go down. As you have seen in any other economics that has fallen down whose inflation has sky rocketed like Brazil, Zimbabwe, Prague, Venezuela as I know the currency has no value right now. As their economy has deflated and as because people lost trust in the government and term they have lost the trust in the currency which they are producing. Which that lead to the fall of their money. Even if they have money that money doesn’t have any power to buy anything for them. Just in that scenario if cryptocurrency would have been present then people would not have depended on government but depend on itself which means they would never see off such days of the currency has no value which means everyone equally traded money or traded cryptocurrency so I think that’s one thing that should be on focus more on and it should be legalized over the world.
P	:	Thank you so much.

New folder/Dhiraj Singh.docx

Speaker P: What is your name?

Speaker D: My name is Dhiraj Singh

Speaker P: And What’s your birth year?

Speaker D: 1994.

Speaker P: So do you have knowledge about cryptocurrency?

Speaker D: Yeah I have basic knowledge about cryptocurrency

Speaker P: So have you traded cryptocurrency before?

Speaker D: No, I have not traded cryptocurrency but I have heard a lot about trading into cryptocurrency.

Speaker P: So why don’t you trade into cryptocurrency?

Speaker D: Because previously I wasn't having much knowledge about cryptocurrency. And since 2007, I think so there was a need for cryptocurrency to go to and soon people becoming billionaires and millionaires. So that, that's all. That's the first time I heard about the cryptocurrency. Then I inquired about that and I think so in future about trading in cryptocurrency.

Speaker P: So you plan to trade in Ireland's future as and now if you get more information about how the trading is done.

Speaker D: Yes sure, I will definitely within a month I will try to do a cryptocurrency trade deal.

Speaker P: And what do you think about trading in stocks and bonds. As in the initial way of investment which we had, So what do you think about it?

Speaker D: As a layman, I can say most the people have knowledge about the stocks and bonds. So if I consider the stocks it's less it's less serious it's more risky than the bonds because as we know that a bonds of us secure and that the fixed rate of interest and it has the liability and in the assets are if the bond that does not perform and bond-holder can take the money or can have all the claim on their set of the company whereas in the stock if you say that they just took up everything and if it if you invested like thousand euro you can gain through the capital appreciation and there is no like protection in stock. If the stock market or the stock market falls your money will be gone. So we had two aspects of both as quality like in stock if the risk is more returns is also more whereas in the bond the fixed return which you will gain.

Speaker P: So what you think about stocks and bond in comparison to cryptocurrency?

Speaker D: In comparison if I compare cryptocurrency, I think so, if I compare all I think so cryptocurrency can back all the qualities of all the three things cryptocurrency is gaining nowadays more importance and I think so both should invest in cryptocurrency now because of the nature which it has and it's completely secure way of transacting in the cryptocurrency.

Speaker P: And do you know about one of the main forms of cryptocurrency which is the

Speaker D: Names it Bitcoin I think yaa.

Speaker P: Yeah, So you will, as you said that it has a sudden rise and fall, So, what do you think might be the reason for the fluctuations which took place last year.

Speaker D: The reason which I have inquired about the cryptocurrency is all cryptocurrency is basically depend upon demand and supply. That is every coin has its limited, limited which means that if you are trading in Bitcoin you can have. I think so currently 17.5 million Bitcoins are there. So it all depends upon demand & supply, so if the demands are more the price will rise and the supply and more and demand is less the price will fall. All depends on demand and supply because of the limited amount of the Currency which is being circulated in the market.

Speaker P: So you think that a demand and supply. You will look at how it is rising or falling before investing into cryptocurrency as in will that affect your decision regarding the current demand or supply of cryptocurrency.

Speaker d: Yaa, definitely there is current demand of supply, It all depends on being a layman, layman does not understand what how does that actually the cryptocurrency actually work. So people will go if people are earning a lot of other people's are earning people will invest in that and try to get advantage of that. So it all depends on demand and supply

Speaker P: But rather than demand and supply and what are the factors do you think shall influence your decision while trading.

Speaker D: No I will, I will look at whether it's risky or not since I know that in cryptocurrency there's no central party involved. So it's quite risky because if you see the 2017 prices there was great sharp decline and rise so I will consider that risk factor in that before investing

Speaker P: And do you know about the technology which goes behind cryptocurrency trading.

Speaker D: Yeah it’s the Blockchain.

Speaker P: So what do you feel about the technology as in

Speaker D: It's a much it’s a much secure way of trading into the Bitcoin and all because it uses a software. I'm not sure about the software but a secure way of doing wherein it creates a ledger. It gets a public ledger.

Speaker P: Yeah.

Speaker D: And it's basically, for instance, if I see your example you have taken like five coins you will have your personal key as a password. Then if you buy that you have to put your Personal key then later on. Once double verification has been done by the public key you will have your personal key and a public key. So if you put both matches then only your transaction will be approved to be more secure than any other way of transaction.

Speaker P: So you think that the blockchain technology can be used for any other Platforms or any other sectors other than cryptocurrency?

Speaker D: Right now I'm not sure about that. In which sector it can be used but since it is much more secured it can be used in any other way of doing business.

Speaker P: So what do you think about the change in investment patterns over the years as an income comparison to your previous generation for example your parents or your grandparents and the way you invest so what do you think as the way the pattern has changed?

Speaker D: The pattern basically previously if I consider my parents invested in gold and they invested in properties and since the previous generations are not much literate about the stock market and all this way of major source of investment for them. So today generation basically invests in stock market, they invest in debentures, invest like ETF invest in derivatives as a major producer to regenerate invest. And like you said that Bitcoin also since is gaining popularity people are trying to invest in Bitcoins also. So the pattern is changing from traditional investment like gold or property to Bitcoin and that the derivative products.

Speaker P: So what do you think might be the reasons for the change and what's the difference between the way the generations thought or are thinking.

Speaker D: Today’s generation, their investing in Bitcoin and all because it all depends upon the popularity of the product in that generation the popularity of the property and gold and now it’s the Bitcoin and this you can say of derivative products. So it all depends on the popularity of the product and its risk and reward factor.

Speaker P: Ok, So you think you will continue to experiment with the up gradational technology and then investment sector and you will, You might think about investing in traditional investment like gold or property.

Speaker D: Definitely, I cannot be only dependent on this blockchain technology or the Bitcoin I have to be, I have a mixture. I have to have a diversification because of the Bitcoins fails I cannot I cannot gain a proper income so I have to have some sort of gold investment property investment because. As far as my knowledge is concerned the property hardly has seen a property being declining or the world price been declining because properties always are. So I will have a mix of this Bitcoin and this property Gold, derivative products, so that my income will we diversify and If something that's wrong I can get from some other product so.

Speaker P: So as we know that cryptocurrency doesn't have any regulation. So what do you think should be included used in the way the trading should be done in future for you to invest in it the way it is there in the stocks that you get a fixed amount or in return for any other whether regulation is done. So you think any points should be included in the regulation of cryptocurrency because there is no third party involved and there is no interventions.

Speaker D: So there should be government intervention in this sense though big players can control the demand and supply and they only can gain whereas the people who are in the lower class or a person who is investing they may loose all their money because they don't know the actual business work. So the actual middle party who can have a track on a track on each other thing like the SEBI in India, the SEBI is a regulator and the responsibility of protecting the right of the investor. And in this also there should be a middle party who understand the business completely and who should be like a protector of the investor and every person who should be protect them.

Speaker P: So now is your plan to trade in future, do you think cryptocurrency should be given a legal status like the paper money. I mean non-virtual money.

Speaker D: I think so cryptocurrency should be given the legal status and is not cryptocurrency into a particular country. It's international trade like gold you know. Gold is being traded all over the world and the prices of gold not only depend on one particular one country it's controlled in international price and demand, so in cryptocurrency also it should be legalized.

Speaker P: It should be legalized and everywhere

Speaker D: Everywhere it should be everywhere.

Speaker P: So. So you’ll can trade

Speaker D: So everyone can trade here.

Speaker P: Thank you so much.

Speaker D: You’re welcome

New folder/Jessy Dangboonrueng.docx

SpeakerP	-	What is your name?
J	-	Jessy Dangboonrueng
SpeakerP	-	What is your birth year?
J	-	1991
SpeakerP	-	Do you have knowledge about Cryptocurrency?
J	-	Yes, I do.
SpeakerP	-	So can you elaborate as in? What do you know about it?
J	-	I have been doing Cryptocurrency for quite some time. Six to seven years already. I know about Bitcoins and their market. I know the technology behind it. I invest in coins like Ripo I have Ethereum, Bitcoins. I could tell it in details and knowledge.
SpeakerP	-	How has your experience been in Cryptocurrency?
J	-	Yea, Good, I mean some good returns on Crypto. It’s good.
SpeakerP	-	And I mean your currently trading as well.
J	-	I am not trading at the moment because the market is in a bit of downfall but I told you I have my coins.
SpeakerP	-	Ok. In the future do you plan to invest if the market is rising?
J	-	Yea, I wouldn’t invest if the market is rising, I would be selling if the market is rising.
SpeakerP	-	Okay. What do you think about the traditional way of investing in stocks and bonds?
J	-	What I think about it, its just an alternative investment it’s for people according to their preference. I don’t think its bad or good. Cryptocurrency, It’s more risky, it’s more volatile then stocks and bonds. So you can invest in stocks and bonds according to your preference. I feel Cryptocurrency is much more newer type of asset. You shouldn’t invest if you are not aware, sure about it.
SpeakerP	-	Okay. Then coming to Bitcoins we know that there was a sudden rise and fall in the for the market of Bitcoins, so what do you think might be the reason for it.
J	-	Well, it’s market supply and demand, at this point right now, till late in December 2017. It was obviously like 20000 the rate was hyped and once people started selling the market come down. It’s trading psychology how people think about the market, some people say it’s well trading, a lot of well-traders would lead the coin. Just a number of different factors.
SpeakerP	-	So does that affect the decision when you start trading in Cryptocurrency as in fluctuation?
J	-	Are you talking about day trading or long-term trading?
SpeakerP	-	Both as well in general while you trade. So what do you think the fluctuation market effect or do you take the chance of going ahead with the trading.
J	-	Not really sure of your question that what you mean by the question but when you are trading day to day if, you are trading not the just for the sake of trading, in general, you would be obviously looking at the market indicators and you are looking at the chart. As if you are looking at the Bitcoins as a long-term investment now it’s a time to buy it’s at a low.
SpeakerP	-	Okay, and you will sell it when it’s rising that what you mean.
J	-	Oh, yea, I mean it in any trading when the price is low and at this point then when it was before you have to believe that it will rise in the future you will obviously try to hold by the time. SpeakerP - And apart from this what are the factors do you think in consideration about it in Cryptocurrency?

J	-	Well you have to look at the coins itself you have to look at who are the founders behind the coins, you have to see its not a scam coin, you have look at what purpose the Cryptocurrency would solve or what Bitcoins would be you would look at what kind of technology it got support by you could look at and what potential it has in future. Obviously the potential of the market that would be the coins value credited by the line in the future.
SpeakerP	-	Ok, now coming to the technology do you have knowledge related to the technology, which is used in Cryptocurrency?
J	-	You know in general, Cryptocurrency has its own like the technology behind it. Obviously the foundation knowledge of technology. I am not going in more details about it. But Blockchain is obviously the decentralized form.
SpeakerP	-	What do you think can blockchain be used in any other investment platform like Cryptocurrency or any other sector?
J	-	Yes, the blockchain is already been used in many other sectors. Cryptocurrency is only a fraction of what Bitcoins be used for really anything we want to be decentralized. It can be used for banking, school grading systems, car sales platforms etc.
SpeakerP	-	So you think that shall be safer for using Block-Chain technology into those areas. Will it be safer as data protection relating into other areas, you said for school grading system or banking.
J	-	In general yes, it should be safer, it should be secure and it should be faster.
SpeakerP	-	Coming to the investment pattern how do you think there has been a change over the years as in your generation or your previous generation.
J	-	If you look at the previous generation they are into more tangible assets. So people in the previous generation they were purchasing lands and properties and gold. They believed in realist touch you know about the tangible assets this is an investment. In our generation, I think people are more interested in intangible assets. Things that are more data related. And obviously, assets like Cryptocurrency is not a tangible asset and it has to be mined around so that’s a big difference.
SpeakerP	-	So do you plan to invest in traditional as well do you plan to diversify your investment or go for the technologically upgraded one?
J	-	So, I have already put my investments portfolios...
SpeakerP	-	Can you tell me about your investment portfolio? Do you plan and diversify into traditional one or Cryptocurrency or go for the non-tangible assets.
J	-	I have investment in traditional portfolio.
SpeakerP	-	Okay, and what changes or what rules or standards you should be induced in the Cryptocurrency transactions, or the way Cryptocurrency is traded. What do you feel should be ruled or added?
J	-	I would as a rule in any investment in general are : 1) Only invest in what you can lose. 2) You need to be aware that Cryptocurrency is a highly volatile investment very risky, so you better educate yourself in how it works. 3) What the technology is and be prepared to use your money but don’t put all your eggs into one basket.
SpeakerP	-	Now coming to the legal status do you think Cryptocurrency should be given legal status. Do you want it should be globalized or legally accepted just the way normal paper currency is accepted?
J	-	Okay, I think that is different from legal status. I think being legally, globally adopted for payment would be great but I want the legal regulation no, the whole move while Cryptocurrency was created because it is totally decentralized form. I want it to be in easily adopted form ideally that would be great but I don’t want it to be regulated.
SpeakerP	-	Do you think it has wealth creation as the same potential just like equity or bonds has?
J	-	Yea, there are people who make hundreds of millions in them.
SpeakerP	-	And what do you think is the social impact of Cryptocurrency on your generation?
J	-	Social impact… it naturally won the way the people behave with it in our generation people are becoming more and more cashless and payments throught cryptocurrency, another social impact I would say change in the way new generation sees investment in a different way.
		Cryptocurrency also has a negative social impact I don’t know if you are aware the Crypto boom so that definitely had a negative social impact. So you know a lot of people invested in Cryptocurrency and Bitcoins was also used for payment of the black market. Buying drugs and etc. So that side I think is other side of the impact and the negative side.
SpeakerP	-	Thank you so much for your contribution Jessy.

New folder/Neuro Hanis Ebrahim.docx

Speaker P: Hello

Speaker H: Hi there. Hi there. Yeah.

Speaker P: Hi. Can you tell me your full name please?

Speaker H: Uh, my full name is Neuro Hanis Ebrahim

Speaker P: What is your birth year?

Speaker H : 1995.

Speaker P : Okay. So now I want to ask you what do you have any knowledge about cryptocurrency?

Speaker H: uh, _________ cryptocurrency, a virtual currency that uses cryptography or security.

Speaker P: Okay. And so do you have any experience in trading what investing with it?

Speaker H: Uh No, because I am not well versed. I don't have any knowledge about it.

Speaker P: Okay. But if you get any knowledge about how you trade or how investment is done and do it. So you plan to try your hand in cryptocurrency in future?

Speaker H : No, because I'm not interested.

Speaker P: Okay. So then what do you think about the stocks or bonds? I mean, investing in them, into that?

Speaker H: I think it requires a lot of work because before investing in stock, we have to research, uh, which company is the best investment. And I, we must know how the economy is doing and we also have to come to know companies that are worthy to invest

Speaker P : Okay, But if you are asked about comparison between investing, investing in cryptocurrency or stocks and bonds, so which one would you prefer?

Speaker H : Um, so in my opinion, I think I would prefer cryptocurrency investment compared to traditional one because it's more transparent and have central lines as how we create. Because a contract is traditional investment, uh, traditional investment. Uh, we should meet too many people to know where and how their money has been used by the bank.

Speaker P: Okay.

Speaker H: To cryptocurrency.

Speaker P: Yeah. So are you aware about Bitcoin, which is one of the well known forms of cryptocurrency?

Speaker H: Yes, I'm well aware of that.

Speaker P: Okay. So you knew, you know that, I mean in last year it had a sudden rise and fall, I mean the value decreased. So you, do you have any views about what might be the reason?

Speaker H: Yeah, for my opinion. I think cryptocurrency is still new and if you to consider an investment. But because of the extreme rise and falls see a path forward for there is fluctuating up and down. Yeah.

Speaker P: So you're saying because it's new one that is not much of a knowledge about it. So that will affect how you might take a decision in the future

Speaker H: yes, yes

Speaker P: So, It will effect as in before deciding to invest in cryptocurrency, you will think about how well known it is or uh,

Speaker H: I'm sorry, can you repeat that?

Speaker P: Oh, before or investing in future in cryptocurrency, you will be, you're trying to find, you try to find out how, I mean, how many people are aware about that or how is the market,

Speaker H: uh yes, because, because cryptocurrency is still new like it continues five to 10 years and also I'm going to see how we go in a few years later. Yeah.

Speaker P: Okay. And, um, so if you will, in future decide to invest, then what factors will you take into consideration?

Speaker H: Hmm. Uh, it's level in development, um, because it's new. So, um, I'm going to see factors is that, uh, how many information and what is the pros and cons before investment.

Speaker P: Okay. So there are any specific things which you are concerned about, like how the things were for called the security or any Additional regulations?

Speaker H: Uh, oh, you mean that, um, my concerns on about the crypto currency?

Speaker P: Oh No. As, as before investing in, because you were saying you will see as an how secure it is or how transparent it is. I mean those factors, those areas or, or, or about the regulations as in the way we normally invest into stocks or bonds. So we tried to find out the dividend rate which will get, or how secure it is or you know,

Speaker H: uh, yeah, in my opinion that cryptocurrency changes, changes as the technology changes quickly, but however it is riskier here.

Speaker P: Okay.

Speaker P: So risk is a factor of it. You would take into consideration

Speaker H: consideration

Speaker P: and then you'll see if you're investing in Bitcoin, you will see how much risk is associated with it that way.

Speaker H: I'm sorry, can you please repeat it?

Speaker P: If you are planning to invest in Bitcoin then you will think about the risk associated with, Bitcoin right? That way.

Speaker H: Yes, yes.

Speaker P: Okay. Okay.

Speaker H: And do you know about the technology which is utilizing cryptocurrency transactions?

Speaker H: Wait, wait, hold on. Um, uh, you mean is that, did they know

Speaker H : that you utilize the transactions? Yeah, uh, I'm not quite sure.

Speaker H: Yeah.

Speaker P : So the technology with the news is the block chain technology in cryptocurrency transactions.

Speaker P: Uh, I'm sorry, can, can you repeat that again? Sorry.

Speaker P: The technology, which is used in cryptocurrency transactions is called the blockchain technology.

Speaker H: Yes.

Speaker P: So have you heard about it?

Speaker H: Uh, yeah, I do have it from the word of mouth.

Speaker P: Yes. So, okay, so you, I mean, you don't know much about it as in where it can be used. Okay Okay.. then we will move on the Next question. Um, uh, so compared to your generation now and compared to your parents' generation, how do you think the investment pattern has changed?

Speaker H: Yeah. Uh, it's, it changed drastically and rapidly compared to 20 to 50 years ago because, um, uh, yeah, like I said before, I do, it changes with it change on par. We did, he just on his technology and investment become quicker and faster yet riskier.

Speaker P: Okay, So what do you think access for technology has been the reason or as an well, they're less aware about it or was it different during that time?

Speaker H: Yeah. Um, uh, so you want me to compare like that? Then to the till now.

Speaker P No, as in, What do you think, as in we are investing into cryptocurrency or some things related to technology. But how was it that, I mean they were traditionally investing into other forms, are you aware about anything?

Speaker H: Mm, well,

Speaker H: yes. Yeah.

Speaker P: Like initially there was investment in Gold property that way so.

Speaker H: uh, yeah, yeah. Back then, you know, we, the older generation, like you said, traditional method, it was laid back. It is as a long process compared to now, which is a lot quicker.

Speaker P: Okay. So now in future, if you are given a chance to, you know, invest into something which is more technology upgraded or which is electronic or virtual , so would you go for that? Or even you will think of distributing your money or investing into the new things as well as something of the traditional type as in property gold.

Speaker H: Oh, but if I believe I would, I would use cryptocurrency, but before that could be for the apps have become, have the knowledge and because well versed before you jumping into investing into it. Yeah.

Speaker P: Ok, ok. So there are any other things which you think that cryptocurrency should include for you to get motivated to trade into and do it as an, the leaded to any regulations or status currently, it's not legal everywhere. So what do you think should be that?

Speaker H: Yeah, I'm well aware of this light. It is obviously illegal in some places in some country because, because it is still new and has a long way to be on par with the US dollar, the euro. So like, um, but yeah, uh, I think, uh, people have to have a solid knowledge about it. Uh, it's not that, incorporate it in a syllabus, in a financial education or degree,

Speaker P : uh, and uh,

Speaker H: and hold on. Oh, and but, and, but the government should work on it because, uh, because it can be a valuable and will be a lot easier then the paper money that we have to go to.

Speaker P: Okay.. So you plan to give it a chance as in, in future when you'll get proper knowledge or you're taught as in how it has to do with the trading.

Speaker H : yes. Yes, I would.

Speaker P: Ok.. So thank you so much for your contribution Hanis.

Speaker H : You're welcome.

New folder/Nikhil Navagrah.docx

SpeakerP: What is your name?

N: My name is Nikhil Navagrah

SpeakerP: And what is your birth year?

N: My birth year is 1986.

SpeakerP: Do you have any knowledge of cryptocurrency?

N: I understand cryptocurrency, in brief, I just know what cryptocurrency means and that it is a very secure currency and that it is a digital currency. So I know just the basics of cryptocurrency.

SpeakerP: So you don’t have any experience in?

N: No I have not used cryptocurrency because I…..I do not have adequent information to use cryptocurrency.

SpeakerP: Okay.. and if given any information or knowledge about cryptocurrency.

N: I may try to – but I just feel that it is very volatile and it is unregulated so it depends upon the risk appetite of every person. I am a little more conservative when it comes to finances and because cryptocurrency is not regulated anywhere in the world I will not be very much interested in investing in cryptocurrency in the future as well.

SpeakerP: What do you think about investing in stocks or bonds?

N: Yes I think they are secured they are regulated and they are monitored which is what makes them more reliable and I have been investing into mutual stocks/bonds.

SpeakerP: So what do you think is the difference between both the ways of investment as in if you invest in cryptocurrency?

N: Like I said cryptocurrency is to my understanding it’s a digital currency which is obtained by doing data mining and although it is one of the most secured method of doing payments secured transaction payments and less amount of transaction cost and fees but it is not a very regulated or a very controlled or monitored form of currency and that is for me a very important distinction between traditional investment and tradition and cryptocurrency investment.

SpeakerP: Have you heard about bitcoin which is one of the…?

N: Yes, bitcoin is one of the well known form of cryptocurrencies that I have heard yes.

SpeakerP: So what do you think about the fluctuations in the price which bitcoin faced last year?

N: I think it was a sudden exposure or over publicity or a or I could say a sudden marketing of Bitcoins essentially which is lead to lot of people like wanting to invest in cryptocurrency which led to an increase in demand and thereby, because of that there was a sudden increase in the demand and the market value of Bitcoin was way above the normal average. So it was more of my understanding a more of marketing gimmick and just an increased awareness. Only after bitcoins market value went a lot up, people started realizing or they started understanding what cryptocurrency is. Before Bitcoins, there was not much of awareness of cryptocurrencies.

SpeakerP: So do you think that the marketing gimmick or how it was will affect your decision in investing in future?

N: Yes, like I said I do not want to go just on some sudden market movements that suddenly because Bitcoin is up I do not want to invest in that, it cannot happen like that. It needs to be regulated it needs to be monitored by either Central Bank of Ireland or something else or some regulating type of entity so that I feel safe secured in investing in cryptocurrencies

SpeakerP: So those are the factors?

N: Yes, security for me is a big factor and the regulation so the key factors is it needs to be regulated, needs to be monitored and it needs to be traded on a recognized stock exchange or on a currency exchange platform.

SpeakerP: Do you have any knowledge about the technology which is used in the cryptocurrency transactions?

N: Yes my understanding is that cryptocurrency is based on blockchain technology and well fairly just about that.

SpeakerP: So do you feel that blockchain technology can be used in any other sector?

N: Oh yes blockchain technology is coming up a lot and I think there are lot of applications for blockchain technologies and people are still trying to understand the various ways in which the blockchain technology can be applied so it is a growing science and it is still under a evolution and investigation by the researchers and people are trying to find out new ways of using blockchain technology for use in accounting, used in computing in improving their technology in improving their supply chain – all mechanisms so there are lot of things in which blockchain can be applied.

SpeakerP: So you think it can be safer as in..?

N: I am not really sure as in I don’t have adequate information about blockchain. Once I understand blockchain completely maybe then and when I feel okay it is regulated and it is secure maybe I can consider investing in cryptocurrency.

SpeakerP: What do you think is the change in the investment pattern over the years in comparison to your previous generations?

N: So looking at the cryptocurrency or the rise in the Bitcoin I feel people these days are not much very risk aversed. People are willing to take risk and people want to explore and get a good profit which is obviously what everybody wants but I based on old-school thoughts traditionally I feel that it is better to invest and wait for some time and look at how things turn out than look for so I go for the longer term gains than the short term gains.

SpeakerP: So in future do you plan to experiment..?

N: I would I would if cryptocurrency is regulated,

SpeakerP: So you feel that cryptocurrency shoud be given a legal status?

N: yes. Yes.

SpeakerP: What do you think does it has the potential to well creation just like equity or bonds?

N: So if cryptocurrency is regulated naturally it has good amount of potential to add to the equity and just like equity but I am not sure how far can we keep mining cryptocurrencies because people need to be aware you know, laymen need to be aware how the mining is done, how the secured transactions, how the payments are so much secured and how does it work so its all about making people aware about the fact, or about the technology in the first place which will help them use cryptocurrencies in future as an investment tool.

SpeakerP: And currently what do you think is the social impact on the generation means what impact cryptocurrency has created?

N: I feel it is divided, the younger generation may be the generation which is born after 1995-96-97 are very keen to look for the short-term profits and are very keen to experiment in cryptocurrencies into the data mining unlike the millennials and the generation before them who are more traditional in approach but I am not saying it is wrong, it is right but to me it is more important that before stepping your foot in something you need to have complete information about that particular subject so once you understand cryptocurrencies well there is no harm or there is no problem in playing with it or investing in it.

SpeakerP: Okay, thank you so much for your contribution.

N: Thank you.

New folder/Parin Vohra.docx

SpeakerP: Can you tell me your full name?

P: My name is Parin Vohra

SpeakerP: What is your birth year?

P: It's 1983

SpeakerP: Now coming to my questions

SpeakerP: Do you have knowledge about cryptocurrency?

P: Of course I do And what do you know about it?

P: Ya. Cryptocurrency is the currency where there are no government interferences involved, there are no authorizations required for any transactions. They come in the form of coins I mean of course in the last couple of years the interest the usage has gone very very right--- across the globe. Of course, everybody knows about the bitcoins and couple of thousands of currencies which are there you know cryptocurrencies -- There are lots and lots of things about cryptocurrencies.

SpeakerP: Do you have any experience in using cryptocurrency, have you invested in it

P: Of course I have. You know In fact I still hold bitcoins in my account and I had purchased a few times and I also had sold two times.

SpeakerP: OKAY so how was your experience?

P: Very frankly I have been ya it’s a very very volatile asset class. Yes, I would call it as an asset class as you know I mean because this is the only asset invisible in nature, not anything physical in nature so my experience was good as well as bad. Good of course because these are, as if buying, selling, trading, investing, holding also with the pace at which the prices had moved in the past one and a half years and bad of course because the way prices fluctuate you know within a day or in a week or month I think we all know that I think the whole rally in bitcoins started from it went almost to 20000 USD and it has crashed almost to 38000 USD. It is very volatile and I have purchased a few coins say around 11000 12000

Now we are down, Almost the gain what I had made by trading in this – has been taken off and I have no understanding or I mean you know I think these rates will never come back again in life. So it looks like you know those kind of I mean I wouldn’t use the word fraud or anything but they were unrealistic by all the means.

SpeakerP: Okay okay so you don’t plan to invest in it in future or what I mean if it is clear will you plan to invest in it

P: ya ya see I think you know every trade you know can go right can go wrong so I am not very very clearly against it but you know yes you know I do believe that cryptocurrencies are here to stay technology is here to stay and if the price really crashes further because right now I understand cost of mining a coin you know is almost at a current level so if there are you know if the currency clashes further I might be – to buy.

SpeakerP: Okay so you plan I mean now coming to Ireland it is still in the growing age so will you invest because cryptocurrency is currently is a currency which is there globally but not accepted in all the countries so

P: That’s correct

SpeakerP: So what do you think about?

P: So see ya I tell you like I mean cryptocurrency has various shades, various participants but the millionaires are the maximum investors to this currency

So I mean like you know it is depending upon the nation to the nation I believe the USA has accepted it very well and so has Japan.

SpeakeP: Ya

P: So America depends so if Ireland is kind of promoting or you know is a kind of I mean you if they are in for this currency then I think yes I can think of investing

SpeakerP: Okay …….Okay

SpeakerP: Okay and now seeing of initial ways of investing like stocks or bonds so how do think that is I mean investing in stock.

P: I have experience in investing in stocks and bonds and cryptocurrency, is that your question?

SpeakerP: No as in those are the traditional ways of investments which we always had so I want to know your views on those, on stocks and bonds as in how was it?

P: See I tell you I am myself a portfolio manager and you know I am managing close to 5 billion dollars of assets and you know I have experience into managing fixed income that is, bonds I also have a fair amount of investment into global activities as well. So these are the asset class which is being prevailing in the world more than a decade. There are multiple pieces of evidence of the behavior of a particular asset class in different situations. There are multiple exchanges which are very eccentric and there are very proven, they have an amazing track record and I mean you know and these are the assets which are straight away related to the economy, they are straight away related to you know to the products goods and services people deal into. So these asset classes are here to stay that is for sure.

Also with the bonds you know if you see any of the economies in the world I mean none of the government can do away without borrowing from the market which is bonds and you know to sustain any economy to run the any economy bonds would always be available also you know there are different natures like bonds want to invest till the life of the bond or till the maturity we keep on getting interest rates I mean interest except that the bond defaults . So I think those are traditional investments, traditional asset classes are here to stay for sure.

Nevertheless, cryptocurrency is also likely to emerge as another asset class in the coming future but now you know because of government interventions in different-different countries one has to see that in which countries what are the regulatory environment in which this blockchain technology or cryptocurrency is likely to operate. Based on that you know and also one very very important thing is that when you really into bonds or stocks you know the way the government the way the regulatory environment is you are sure about holding it in the right form that is in the dematerialized form.

With cryptocurrency, we saw multiple threats happening around the world, alright. So since it is an invisible asset the holding of the coins, holding of the asset is very you know it is not safe not 100 % full proof. I think it has to evolve over a period of time you know and finally, any new asset plan if it comes you know we always face the teething problem. It always matures over a period of time so I am very hopeful that even cryptocurrency would also mature over a period of time.

SpeakerP: So you feel its not matured so bitcoins are not safe therefore there is a rise and a fall.

P: Absolutely. See basically the volatility is a concern of participation. So the more the participants the less will be the volatility. Less the participants more will be the volatility. So cryptocurrency made a tremendous impact cost. Yes, I mean like there has to be more and more number of owners and then only you know there will be more number of buyers, there will be more sellers and once that happens, the volatility will be compact.

SpeakerP: So other than this, what would be the factors you think you will consider before taking a decision to invest?

P: In cryptocurrency?

SpeakerP: Yes Yes in cryptocurrency.

P: See basically first and foremost, of course, it is the regulatory environment under which it is operating in a given particular country, the second thing like the strength you know the exchanges which are available to trade ok..they themselves have to be very strongly monitored. There has to be a guarantee of a transaction. So I mean like the first and foremost is the regulatory environment also you know I would like to highlight here is that there has been a very kind of I mean the participants the people who have invested who have traded also doesn’t belong to them, they also belong to the kind of you know unsocial elements. Alright? So you know there are a lot of traffickers, a lot of drug kind of mafias, there are a lot of peddlers, human trafficking –

SpeakerP: There is no intervention that’s why…

P: No what is happening absolutely is that you know in every other asset class you have the knowledge of who are the holders, who are the buyers, who are the sellers and since here the technology doesn’t tell you who are the buyers or who are the sellers so there are very anonymous participants here and end of the day you know it is promoting you know all those illegal activities to a huge extent, So that is a very very sad part about this currency sounding bad… so ya ya ya so it needs to get matured, needs to get matured.

SpeakerP: So now what do you think about the technology that is used in cryptocurrency, do you have knowledge about the technology as in

P: ya ya I do the blockchain technology used for the cryptocurrency I think that technology is a very very solid, very very scientific, it’s an amazing technology which has been kind of you know invented over the period of years. This technology is very much here to stay, the way it authorizes the transactions the way in which it centralizes the whole thing that’s really incredible and also you know with this technology it is not possible to hold the cryptocurrency or the ICOs or whatever in the universe. The blockchain technology has a huge potential to change the world. It is going to be a path breaker. It's going to be a great changer. This technology is going to be used in most of the industries. With the way internet infrastructure has gone around the world and the penetration of the internet has gone to every part of the corner of the world. So this blockchain technology is going to be a wonder in the coming years. So yaa.

SpeakerP: Which sector do you think can use blockchain technology other than cryptocurrency? Which other area can use?

P: Yes. First and foremost are the financial markets may be the immediate thing that is coming to the mind is the banking industry where there are trillions of transactions and every transaction is authorized at any point of time or a process. So blockchain technology can be immediately applied to the banking industry. There can be multiple transactions you know all these multinationals, you know this global retail change. Then you can apply to all the Wal-Marts of the world, all the elements of the world where again there are multiple transactions. And at a point of time, the transactions do get authorized. They will be reviewed, it has got a tremendous type of potential and applications.

SpeakerP: So will it be safer?

P: I think blockchain technology is very much safe. It is a technology which is meant to be noninterfering. That is a whole logic about blockchain technology. It is going to be safer but at the same time like any other process, it has to be monitored and controlled. So blockchain is here to stay it is surely going to be safer for sure could be safer.

SpeakerP: Now coming to the investment patterns how do you think it has changed over the years as compared to each generation?

P: I mean see the traditional, if you see a thousand years back people used to invest into precious metals gold, silver, palladium, platinum you know because of the rarity and the storage value it could be portable it could be passed on to the generations. And then came the culture of equity perhaps two hundred years where you know people kind of started owning complete by investing in small-small then, of course, the bonds also has a very very long history. So now you know these were the very traditional maybe real estate was always there from centuries. So you have more commodities, you have a foreign exchange which is currencies, you have equities, you have bonds, you have real estate so these are the four to five sockets are always available to spread your eggs into different baskets. They are here to stay I mean because the commodities are always being used for any of the activities like the cars whatever. Currencies are always here to stay because the foreign exchange will always be there. When we talk about equities, equities are here to stay here forever because there will be multiple individuals, companies who would like to raise capital for their growth. Bonds will always be there because the government would lead to financing their finances, they will have to borrow. These asset classes are here to stay here forever. Nevertheless, as far as cryptocurrencies are concerned it is decent, it’s a very new industry, investment avenue in nature. There have been multiple views for it against it. I think the next type like any other industry is the regulatory environment. So my thinking is that cryptocurrency became an international currency like any other unit which can be safely traded, accepted and can be honored because there are no owners, there is no guarantee…if we buy a dollar or a euro it is backed by a government liability, there are government lockers, there are government reserves, government holdings so those currencies are backed by assets.

SpeakerP: So legal status should be given?

P: Ya. Once it gets the legal entity which people are sure about that just that people will value more or less but it is a medium which can store the value of a particular – because if you see inflation, it gets built into a currency, a bond or an equity or a real estate or a commodity. So I mean like countries future growth or degrowth – can be priced into an asset class. With the cryptocurrency, you know you don’t any factor which is influencing this. It is just the cost of the mining maybe tomorrow it gets cheaper I mean the technology so it has to have a lot of barriers and acceptance to grow and in my side it will take another at least 10 to 15 years to become a global reality because if I am buying a particular coin and if I am traveling and if I find a McDonald's burger or a pizza or a mobile or a telephone and still if I am not sure about the availability of the currencies as an asset I would not like to store it. Till the time it becomes a reality it is going to take a lot of time.

SpeakerP: And what do you feel of the regulations which should be included other than the easy acceptance?

P: See for the regulatory it is a very very deep you know debatable issue I mean regulation is always about knowing the buyers and sellers. It is always about letting the malpractices to go, any manipulations not to occur. Regulations about no misuse can happen so you know cryptocurrency is primarily used only for financing those illegal activities around the world. So there are many packets of regulations which need to be taken care of and I think that is what is happening right now and that is the reason where the holders of the cryptocurrency went a little, they got the details that we cannot do any more illegal activities and therefore it has got no value and therefore the price came tumbling down from 20000 to 4000. So regulation is a very very big subject. It’s a huge subject and I think it’s a little it will take a lot of time till the time it will pick up the law till it is approved by their respective parliaments you know so those are very very wide subject it is a matter of debate it is not a book to be written for local citizens so in my sense there is a long way to go.

SpeakerP: Thank you so much for your contribution.