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Overstock公司CEO:我支持、但不持有比特币

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    Overstock.com, which sells everything from bedding to dinnerware online, recently announced it would accept bitcoin as early as June, making it the first U.S. retailer to use the virtual currency. Still in its experimental phase, bitcoin has fluctuated from as low as $13 in January to more than $1,200 in December.

    And while it has had a wild ride, Overstock's (OSTK) plans to accept bitcoin as payment shouldn't be read as another bet that the currency will soar higher, says CEO Patrick Byrne.

    Fortune caught up with Byrne over telephone on Monday from his office in Utah. The executive is known to be a doomsdayer, siding with the likes of former libertarian U.S. Congressman Ron Paul, who has argued that the U.S. should return to the gold standard and that the Federal Reserve should be abolished.

    Byrne thinks bitcoin could be a helpful addition to the payment system, but even he has mixed feelings about the currency. Here's an edited version of our chat:

    Fortune: Do you own any bitcoins?

    Patrick Byrne: No. I own gold.

    Really, how much gold?

    A lot. Let's just say enough that if zombies walked the Earth I will have enough gold that me and mine are taken care of.

    I hope you're kidding about the zombies, but let's get back to bitcoin. Do you plan to buy any for yourself?

    I'm not investing in bitcoin. I'm just saying we'll accept it. I don't have any opinions on its value, and I don't even know how one would go about finding that out beyond just looking it up everyday and what it's trading at. Overstock accepting bitcoin shouldn't be read as an endorsement or a view that the value of it is going to go up. We're not going to be holding any bitcoin -- it's just a medium of exchange.

    But you're obviously a bitcoin fan. Why?

    There are business and philosophical reasons. First, the business reason: I think there are a legitimate number of consumers who want to be able to shop with bitcoin. They like the anonymity of the currency. So far, the market has only served them with shady websites, like Silk Road. Also, it saves us about 2% from interchange fees. It's no secret that our net margin is about 2% now. And so the savings would be a very substantial improvement to our bottom line.

    As far as the philosophical reason: I am from the Austrian School of Economics, which means we're the guys who hate fiat money. The long-run value of all fiat money is zero. If you believe in limited government, you want to have a monetary system that is based on something where no government mandarin can just create money with a stroke of a pen. Gold is a solution, we're not going to bring back the gold standard any time soon. We're not going to get rid of the Federal Reserve any time soon, so bitcoin is a step in the right direction.

    网络零售商Overstock.com在线销售的商品从床上用品到餐具不一而足。最近,这家公司宣布将从明年六月开始接受比特币支付,成为美国首家接受这种虚拟货币的零售商。虽然比特币仍在试验阶段,但它的价值却已经从一月份的13美元飙升至十二月份的1,200多美元。

    虽然比特币的价值在持续飙升,但Overstock CEO帕特里克•拜恩表示,接受比特币支付的计划并不代表公司认定这种货币的价值会再次暴涨。

    本周一,《财富》杂志(Fortune)电话采访了位于犹他州办公室的拜恩。拜恩因灾难预言而为人熟知,而且,他和前美国国会议员、自由主义者罗恩•保罗意见一致。罗恩•保罗认为,美国应该重新实行金本位,同时撤销美联储(Federal Reserve)。

    拜恩认为比特币可以作为支付系统的有力补充,但他自己对这种货币的态度却非常复杂。下面是这次采访的内容摘要:

    《财富》:你本人持有比特币吗?

    帕特里克•拜恩:没有。我持有黄金。

    真的吗,你持有多少黄金?

    很多。这么说吧,就算哪天地球上僵尸横行,我也有足够的黄金照顾好我和我的家人。

    希望所谓的僵尸只是在开玩笑。我们还是回到比特币的话题吧。你自己计划购买比特币吗?

    我没有投资比特币。我只是说我们会接受比特币支付。我对它的价值也没有任何看法。我甚至不知道除了每天查询之外,怎么去确定它的价值,以及它目前的交易价格。Overstock接受比特币并不代表我们公司认定这种货币的价值会再次暴涨。我们不会持有任何比特币,我们只是把它作为一种交易的媒介。

    但很明显你是比特币的拥护者。原因何在?

    既有商业上的原因,也有哲学上的原因。首先是商业方面的原因:我认为会有一定数量的消费者希望能够使用比特币购物。他们喜欢这种货币的匿名性。到目前为止,市场上仅有一些黑市网站,比如Silk Road。此外,使用比特币交易可以为我们节省大约2%的兑换费用。我们目前的净利润大约是2%,这已经不是什么秘密。所以,所节省的交换费将实质性地改善公司的盈亏状况。

    至于哲学上的原因:我是奥地利经济学派(Austrian School of Economics)的支持者,我们讨厌法定货币。所有法定货币的长期价值都是零。如果你相信有限政府,那么你所希望的货币体系将不再是政府官员大笔一挥就能创造货币的体系。黄金是一种解决方案,但我们没办法在短时间内重新回归金本位。我们也不可能很快撤销美联储,所以比特币是向正确方向迈出的一步。


    Bitcoin has gotten a lot of attention. Would you say that accepting it at Overstock is just a marketing tool for your company?

    Adoption of bitcoin is low, but I think once we and some other major guys start accepting it that could change very quickly.

    In December alone, bitcoin fluctuated between $480 and $1,280. This is super volatile. Does that freak you out at all?

    No. We're not going to be holding any bitcoin. It's just a medium of exchange. We're just going to be taking bitcoins as payment and converting them into U.S. dollars, at least initially. If we just do the conversion every day, the most risk would be the volatility it experiences in one day, which is still pretty high I know.

    There aren't any derivative instruments out there yet to hedge that risk, but we anticipate they will be created in one way or another.

    Any other risks you see?

    I really don't see any. Plus a certain type of person is using bitcoin -- not just the guys shopping on Silk Road. An increasing population distrusts the government's ability to manage the economy. This is a way of signaling to these people that we stand with them and we share their same doubts.

    Washington has been holding Congressional hearings on Bitcoin? Have you talked to anyone about the currency?

    I avoid discussions with anyone in Washington, but we have lawyers that talk to them, and they say that in Washington there are questions about bitcoin and how it's going to be regulated, if at all. The concern is primarily the Silk Road kind of crowd and money launderers. We certainly don't want to encourage or condone that kind of behavior and we'll do everything the law requires us to do.

    Can the U.S. stop bitcoin from being adopted and used, especially by retailers and consumers?

    I don't' see how they can. If anything, I think if usage gets widespread enough, it could have a beautiful effect for the United States. If our current system starts melting down or we start experiencing hyperinflation and systemic risks and all kinds of things we experienced in 2008, then it will provide a very convenient way for people to move to a safe store of value as they lose faith in the current government-run institutions.

    A few bitcoin exchange start-ups have emerged. Who are you planning to use?

    We're down to negotiating with three companies.

    Which ones?

    We haven't disclosed that yet.

    比特币引起了极大关注。接受比特币支付是否只是你们的一种营销手段?

    比特币的使用率很低,但我认为,只要我们和其他大型零售商开始接受比特币,情况就会很快发生变化。

    仅仅在十二月份,比特币的币值就在480美元至1,280美元之间大幅波动,非常不稳定。这种情况是否让你有一种心惊肉跳的感觉?

    没有。我们不会持有任何比特币。这只是一种交易媒介。我们只是接受比特币支付,然后将它兑换成美元,至少在最初是这样做。如果我们每天进行一次兑换,那么最大的风险将是比特币当天的波动性。不过,据我所知,这种风险已经很高。

    目前尚没有对冲这种风险的衍生工具,但据我们预测,以后肯定会出现某种形式的衍生产品。

    你还预见到了什么其他的什么风险吗?

    我其实并没有看到其他风险。而且,比特币的使用者不仅仅是在Silk Road上购物的那些人。越来越多的人不相信政府管理经济的能力。而我们接受比特币支付其实是在向这些人发出一个信号,让他们知道我们支持他们,我们与他们有着相同的质疑。

    华盛顿为比特币召开过听证会?你有没有对任何人谈起过这种货币?

    我会避免与华盛顿的任何人进行讨论,不过,我们有律师会与他们商谈。他们认为,华盛顿对于比特币和比特币的监管仍然存在质疑,当然假如比特币需要监管的话。担忧的焦点是类似Silk Road这样的黑市网站和洗黑钱者。我们当然不会鼓励、也不会容忍这样的行为,我们会严格遵照美国法律。

    美国是否会禁止使用比特币,尤其是零售商和消费者?

    我看不出他们有什么办法禁止。我认为,如果比特币的使用足够普遍,它将会对美国经济带来非常积极的影响。如果我们的货币系统开始崩溃,像2008年一样,再次陷入恶性通货膨胀和系统性风险,对于那些对官办机构失去信心的人来说,比特币将为他们提供一种便利的保值手段。

    目前涌现出许多比特币交易初创公司。你们计划与哪一家合作?

    我们正在与三家公司谈判。

    能知道他们的名字吗?

    目前还不方便透露。(财富中文网)

    译者:刘进龙/汪皓  

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