Bitcoin, Cambridge University, Dr Anthony Fauci discussed on BBC Newshour
Looking for quick profits to find out more. I've been speaking to Keith Bear, a fellow at the Center for Alternative Finance at Cambridge University's business School. Think their number reasons, but probably the most significant one is the interest of institutional investors in Bitcoin as an investable assets at the moment, there are many examples of this and goes back. I think you're a two when some of the major exchanges like ice in the U. S. C. M E started providing facilities for trading Bitcoin futures more recently last year without institutions like PayPal Square hedge funds and others that are actually now taking significant interest in Bitcoin as message on this This new wave of money to some extent that is coming. There has that interest from institutional investors that are making a real difference. I think as far as the way that big corners tenacity is have perceived. Do you think this is something permanent or just fleeting Because of the extraordinary times we're in? I'm sure you heard the governor of the Bank of England. Cautioning about using Bitcoin, he said. It's hard to see the Bitcoin has what we tend to call intrinsic value. That's right. I mean, there isn't any, you know, asset, the banks Bitcoin in any sense, and it's largely driven by the price that people are prepared to pay for it. Of course, though, there is the way that they can works. There's inbuilt scarcity into the model itself. There are only ever going to be a maximum of 21 million Bitcoins available as simply because of the way that the work is being designed. But to answer your question, I think you need to remember because it's obviously a very volatile asset volatility has been pretty high over the last six months, for instance, and it also was Own. You know, significant changes associated with news coming in, from example from the way that is going to be regulated in certain jurisdictions, etcetera, so these can cause significant swings. But you know, there is a point of view. I think that institutional investors have been to some extent waiting on the sideline, and it's really over the last year or six months where you know, there's some of the announcement sentimental today we have could have happened. That really made a significant difference center arguably those now going to be in the market forever than withdrawing from the market, So who knows? It's obviously a highly volatile Alas, it I'm not one that I don't think anyone would want to speculate easily as to where the Valley maker doesn't matter of calling a digital gold is that speculative? Well, if you consider what Bitcoin was originally designed to do, you know, largely around payments more than anything else, because that means that making payments. It's not that efficient in the sense that that becomes the network is limited to around. Five or six transactions per second, as opposed to visas. The payments network, which handles thousands of transactions per second, because that's what it's designed to do so the real value of Bitcoin really Asa's, you say, is as a store of value. But arguably that store of value is a bit offended by the fact that the volatility can be so great as the mentor before, But does you right? You say it is often a line to gold If you like this an equivalent of additional version of gold in that respect, there was this the gold as the physical manifestation and as the value driven by the way that Physical element is you know how the price follows based on supply and demand, which Bitcoin is a virtual ass? It doesn't have that same physical manifestation, of course, Keith pair of Cambridge University's business school Listening to news hour on the BBC World Service. I'm leads to set well here in Britain, as in many countries, the race to vaccinate is honest. The number of covert nine cases continues to climb due in part to a new, highly infectious variant. British hospitals say they are overwhelmed so health officials have decided to give his many people as possible. Ah first dose of one of the two vaccines approved by regulators. That means delaying the second dose. The U. S is government's top infectious diseases expert, Dr Anthony Fauci says he does not agree. He says the United States will stick to giving people Two doses, the second of the Fizer buying tech vaccine around 21 days after the first the manufacturers of fact vaccine say it's crucial to achieve the maximum level of protection. Who is there a right and a wrong and does it depend on the vaccine? I've been speaking to Dr Chris Smith, a virologist at Cambridge University. See, agree with Anthony Fauci. One has to be dynamic about this on To protect the maximum number of people because that's the end of the day what we're trying to do, and it turns out if you crunch the numbers since the first does the vaccine does most of the heavy lifting And it's the second dose that sort of consolidates and cemented in place. It actually makes sense. In the first instance to go in to meet Andre trying, vaccinate the maximum number of people that you can in the first instance and then follow it up. Even if you have to bend the rules a bit with second dose later. And that translates into We think more life saved, but where's we're constantly being told, right from the beginning. We have to follow the science now. Fizer by on Tech says it should be. The second dose should come 21 days after the first Where is the Oxford University? AstraZeneca says that if you can, you can wait up to 12 weeks. So are they blending the two? Both of ride on guy can see. Both sides of this is different vaccines. They're different. That's a completely different vaccines. And we can't do an apples with apples comparison in that way, Unfortunately, because they work in different ways, they're they're completely different formulations that different virus vectors actually, and want one's genetic vaccine. One, sir, a disabled virus. But the point is this that the immune system does not work with the stopwatch. It doesn't say, Well, it's been three weeks now. So I can't respond to this because actually you you've waited too long. Way that this works, and I think people might be a bit confused. Just think. What if you need two doses? Is this like building a house where the first dose puts the walls up on the second day's puts the roof on? Do I? Therefore having incomplete response? If I only have one dose now have to wait with the rain pouring, and in the meantime, It doesn't work like that. When you have a vaccine. It builds a complete house. But the booster dose that you get later, effectively storm proofs and whether proofs and road tests that house so that it's.