The price of bitcoin is falling and that is a very good thing for the future of cryptocurrencies.
People debate over whether cryptocurrency has any value. In my view, it has value in one way and one way only: its potential as a tool for conducting international remittances and similar transactions at a low cost. Currently, the cost of international remittance is high, and that is a problem. If it costs one yen to transfer one dollar, that is around 0.9% of the transfer value, which is quite large. There are services like PayPal of the U.S. which offer lower fees. But Japan and some other Asian countries do not have such services.
