Tim Draper

Timothy Cook Draper is an American venture capital investor. Draper purchased at a US Marshals Service auction seized bitcoins from the Silk Road marketplace website.

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Tim Draper Remains Bullish About Bitcoin’s Future, Encourages New Investors to Jump In Now

The venture capitalist and investor Tim Draper remains bullish about the future of the virtual currency space. During a conversation with CoinTelegraph, he mentioned that Bitcoin will be reaching $250,000 in 2022 or 2023. This is the prediction that he made several times in the past and that still maintains amid a bear market like the one that we are currently experiencing. Bitcoin lost around 80% of its value since the beginning of the current year, and several analysts are predicting for lower prices in the near future. However, in the future Bitcoin could experience a new price increase, something that most of the analysts believe that will happen once we reach a bottom. Tim Draper has always been investing in Bitcoin. A few years ago, he bought around 40,000 BTC and he said that he did not sell them yet. During his conversation with CoinTelegraph, he mentioned that the current sell-off in the market was just simply a normal ‘fluctuation’ in the virtual currency market. Additionally, he said that financial institutions are happy about these price decreases in virtual currencies because they are able to control the fiat market. Furthermore, Draper marked that Bitcoin is a disruptor, and these assets tend to be volatile as soon as they are launched to the market. Although innovations are very positive for the health of humanity, they operate with high volatility. Additionally, the current dip could also be a good moment for individuals and investors to start becoming users of virtual currencies. He has also said that he takes crisis as an opportunity. On The Matter, He Mentioned: “I always look at a crisis as an opportunity. And that’s the way I’m looking at this one. All times are good times to enter the crypto market. If you are forward-thinking, you’re going to look and say ‘this is just better currency,’ so it’s just a matter of time before the world adopts it. [This will happen] when everything I can do with fiat, I can do with Bitcoin.” As Bitcoin price increases, the dollar will have less importance in the market. Bitcoin will be capturing part of the fiat currency world. In addition to it, he said that Bitcoin and virtual currencies have been created as a software and they do not require a central authority motivated by political issues to print more money. At the time of writing this article, Bitcoin is the largest virtual currency with a market capitalization of $67.34 billion and each coin can be purchased for $3,868 according to CoinMarketCap.
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Tim Draper Doubles Down On $250,000 Bitcoin (BTC) Prediction, Cites Global Adoption

“All Times Are Good Times To Enter The Crypto Market” Tim Draper, a legendary venture capitalist based in Silicon Valley, has long been a believer in Bitcoin (BTC), reportedly buying boatloads of the asset (a reported 40,000 coins) in 2014. And even while BTC has exploded in value since then, undergoing a bull run that sent cryptocurrencies ‘to the moon’, Draper has claimed that he hasn’t sold, as he still expects this newfangled asset class to boom in the long haul. More specifically, speaking with CoinTelegraph, the “staunch” bull recently doubled-down on his $250,000/BTC price prediction, one of the most optimistic forecasts for the world’s foremost cryptocurrency. Speaking on Bitcoin’s recent bout of capitulation, which saw the aggregate value of all cryptocurrencies fall under $130 billion, Tim, who runs a venture fund and entrepreneur-focused university that shares his surname, noted that the sell-off was simply a ‘fluctuation.” He mused that this move, which proved to be devasting for retail investors, could have been catalyzed by market manipulators, before adding that bankers are “loving it” as crypto remains in a crisis, as such institutions have a vested interest in fiat. However, Tim, who parents a crypto-friendly venture capitalist, then explained that Bitcoin’s recent move lower could just be a byproduct of market cycles, potentially accentuated by external bearish pressures. Adding to his sentiment that the decline isn’t out of the ordinary, Draper then noted that in any business, a disruptor — Bitcoin in the case of finance — often moves with immense volatility, even if the innovation holds immense value for the health of humanity. Maintaining this optimistic thought process, Draper then noted that with 2018’s dip could “create a great opportunity for people to start becoming users of the currencies of the futures, crypto,” of course. Echoing claims he conveyed to Ran NeuNer of CNBC Africa’s “Crypto Trader” and OnChain Capital weeks ago, Draper alluded to the fact that fiat, tied to political forces, aren’t likely to survive. Touching on this train of thought, the American crypto multi-millionaire stated: I always look at a crisis as an opportunity. And that’s the way I’m looking at this one. All times are good times to enter the crypto market. If you are forward-thinking, you’re going to look and say ‘this is just better currency’, so it’s just a matter of time before the world adopts it. [This will happen] when everything I can do with fiat, I can do with Bitcoin. Ardent Bitcoin Bull Draper Still In Love With Cryptocurrencies Discussing the aforementioned point in-depth, Draper noted, dollars will eventually become irrelevant pieces of paper. More specifically, in Draper’s dream utopia, BTC usage in the real world won’t only be easy, but drastically more cost-effective than credit cards, which charge 2.5% to 4% on each transaction. He added that in the end, whether it be BTC or ETH, cryptocurrencies aren’t tied to a central bank, and aren’t subject to the whims of inflation and the flaws in human nature. Keeping all this in mind, Draper then explained why he expects for $250,000/BTC to still occur sometime in the future. The venture capitalist first noted that the dollar will lose strength against BTC, while the aforementioned digital asset will begin to make up more and more of the global currency market. Featured Image Courtesy of Andre Francois Via Unsplash The post Tim Draper Doubles Down On $250,000 Bitcoin (BTC) Prediction, Cites Global Adoption appeared first on Ethereum World News.
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Bitcoin [BTC] is a better currency and it’s a matter of time before the world adopts it, says Tim Draper

Tim Draper was and always is bullish when it comes to Bitcoin and cryptocurrencies as his prediction that Bitcoin will hit $250,000 in 2022 still stands strong as he firmly believes in it. Draper spoke about the current market crash cycle that is being experienced by people in the crypto-ecosystem by giving his insights and predictions, in an interview with Cointelegraph. According to Draper, the fluctuation was normal despite people trying to manipulate the market and move it in their favor. Although the crypto-market follows the FUD and FOMO from the mainstream media, Draper said that he looks at this crisis as an opportunity to buy into the market. He further added: “This [Bitcoin] is it’s just better currency. So it’s just a matter of time before the world adopts the better currency. And I think it’ll be as soon as I can do everything with my Bitcoin that I can with my dollars. And then everyone’s going to start looking at it and say, why do we even deal in dollars when we have Bitcoin? It’s so much easier.” With Bitcoin there is less friction and there aren’t added or extra fees that has to be paid to a central controlling authority or even deal with inflation, Draper explained. He proceeded with his prediction for the future saying: “I have a pretty good idea that the Bitcoin price in 2022 or 2023 is going to be about $250,000 and that’ll be two things at work. One is that the dollar will decrease in value relative to crypto. And the other is that Bitcoin will take a larger and larger market share of all currency around the world.” Furthermore, Draper said that the future for Bitcoin is very good and that one had to be realistic and not a pessimist to adopt Bitcoin, which is going to be a major currency of the world in the future. The post Bitcoin [BTC] is a better currency and it’s a matter of time before the world adopts it, says Tim Draper appeared first on AMBCrypto.

Tim Draper Says Trillions of Dollars Will Move Towards the Crypto Market

Although Bitcoin and virtual currencies lost an important part of their value during the last weeks, Tim Draper believes trillions of dollars of fiat would move into virtual […] The post Tim Draper Says Trillions of Dollars Will Move Towards the Crypto Market appeared first on UseTheBitcoin.
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Billionaire Crypto Investor Tim Draper: Bitcoin Will Still Rise to the Top and Pass Fiat Currency

The crypto market this month has been unforgiving to Bitcoin (BTC), along with nearly every altcoin on the market. After Bitcoin started dropping, most of them followed suit, and Bitcoin is comfortably resting at above the $4,000 mark again. This is a nice change from the low $3,700 it reached earlier this week. Though the shaky ground has left some investors worried, Tim Draper is not one of them. The venture capitalist had the opportunity to speak at the World Crypto Con in Las Vegas, claiming that the global economy may not even need fiat currency for much longer. In fact, he was bold enough to say, “It’s going to be better for people. They’re going to move to crypto, and they’re going to go away from the political currency — they call it fiat. That’s the way it’s going to move.” Many countries with more technological advancements believe that there’s already a transition in progress, which is why many of them are choosing to make crucial changes now. Draper commented, “We’re going to make a huge mistake by trying to cling to our old currency. That’s why you’re seeing the smaller countries all say, ‘Yeah, we want bitcoin, we want initial coin offerings here, we want blockchain. We want all of these things in our country.” Investors should keep in mind that Draper has always been bullish about bitcoin, even daring to predict a $250,000 price target within the next four years. At the Las Vegas event, Draper noted, “I tend to move my dollars into bitcoin, because why would I want this currency that’s tied to some political force when I have a currency that is going to be frictionless and global? I would much rather have a global currency than one that is sort of tied to a political force.” Many short-term players in the industry are getting out now, due to the simple drop in the prices. However, Draper wants to take the opportunity to launch a bitcoin venture fund, believing in the power that Bitcoin has to cause an upswing. Draper elaborated, saying, “Eventually, I want to be able to raise a fund that is all bitcoin, invest it all in bitcoin into a bunch of different companies, and have them pay their employees and suppliers all in bitcoin. And then no accounting fees, and it’s done automatically. And it’s all built into smart contracts, so that if one of those companies gets sold, I push a button, it just shoots into all of their bitcoin wallets.” When speaking with another news outlet this month, Draper admitted that he is still holding onto the 40,000 bitcoin he purchased in the end of 2014, which was $24 million ($600 each) at the time. Presently, if he was to cash out at the current market, his investment would be worth about $160 million now. It doesn’t look like he wants to get out anytime soon though. Reaching his prediction would mean a $10 billion payday. At the 2018 Web Summit in Lisbon, he noted, “This is a new society, and you want to get out in front of it. You want to be a part of this new society. Or do you want to be a Luddite. The Luddites died off, didn’t they?” Reminiscing about other investments that were ahead of their time, he mentioned the creation of the internet. “The Internet started in the same way,” Draper reflected. “It came in big waves and then it kind of came crashing down. And then the next wave comes concentrated but much bigger. I suspect the same thing will go on here.”
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Quotes, Week 17 ’18

Bill Harris, Kosala Hemachandra, Daniel Larimer and Tim Draper speaking on cryptocurrency and blockchain issues

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Prosecutors Call for Ten Year Jail Term for Karpeles Over Mt. Gox Embezzlement

Mark Karpeles, the CEO of Mt Gox, is currently being accused of embezzlement by Japanese authorities. The prosecutors of the court case are seeking a 10-year sentence for the ex-CEO, which commanded the now-defunct Mt Gox exchange. This comes in the midst of the extension announced for civil rehabilitation claims. Japanese prosecutors say as much by alleging that Mark Karpeles's actions "played a great role in totally destroying the confidence of Bitcoin users. The actions in question are that he allegedly embezzled a total of 341 million yen (US$3 million) of customer funds from the Mt Gox account, moving it to his personal account between September and December 2013, while padding the numbers on his company's trading system to cover up the loss. Karpeles has sworn his innocence and says the money, moved in the last four months of 2013, was meant to serve as only a temporary loan. He also argued, earlier in the trial, that the funds in question did not belong to clients but were his now-defunct company’s revenue. In response to the former CEO’s statement, the prosecutors at the court said: There was no documentation of loans, and there was no intention of paying back the money. The prosecutors went further to demand a harsh sentence for Karpelès. According to the Japanese prosecutors, the Mt. Gox Chief betrayed his clients’ confidence and misused most of their funds. The ex-CEO is currently confined to Japan as a condition of his bail and has been answering in freedom. He has often protested his innocence and publicly appealed to the industry. It remains unknown when the trail will conclude, the publication added.

Tezos [XTZ] Story – XTZ and Waves Highest Gainers

As many crypto enthusiasts have started to notice, there is a slight attempt by the bulls to get Bitcoin – BTC against the US Dollar up back on its feet. Read: Bitcoin (BTC) Price Analysis: Are Bulls Back on Their Feet? Bitcoin bull Mike Novogratz insists that bitcoin won’t fall to the $80 level despite signs that the bear market could persist. In an interview with Bloomberg, he reiterated that bitcoin will become digital gold and that revolutions don’t happen overnight. If the supportive trend line starts to gain momentum and hold-off any waves of bears that tend to tank the value downward, a ripple-effect could present itself impacting all following altcoins as the pioneer cryptocoin always does. Among the top 20, the highest gainer in the last 24-hours without a doubt is Tezos [XTS]. Per time of writing, the pair XTS/USD is changing hands at $0.4197 – marking an increase of 13.23%. Source: coinmarketcap Tezos for starters – During one of the most successful and largest ICOs ever held – Tezos Foundation raised over $232 mil bringing a new cryptocurrency in the market. During a contact made by Reuters to the president of the foundation it was confirmed that its MainNet was set to launch on the 14th of Sep, 2018. #Breaking @millervalue #ValueInvesting #Crypto #Bitcoin #Cryptocurrency project #Tezos to launch main #network next week:… https://t.co/nqOY185XCh — John M. Spallanzani (@JohnSpall247) September 14, 2018 What is Tezos (XTZ)? Tezos is a decentralized computing platform for Turing-complete smart contracts. Tezos has three key features. (1) “Liquid Proof-of-Stake” consensus – there is a relatively low barrier to consensus participation and delegation is not required. (2) Smart contract verification – Tezos invented the Michelson programming language that allows formal proofs of contract properties for better contract security. (3) On-chain governance – all aspects of governance are contained in the platform: voting on proposed protocol upgrades, paying developers and implementing the upgrades. – Via Kraken’s blog post – Kraken Listing XTZ Blog Post Right on its tail is Waves which is welcoming a daily price hoist of 10.01% against the US Dollar reaching the mark of $1.85. Its beginning of December price surge as it seems is still continuing. The reason for this trend was the recent announcement of the release of a significant update to the mobile wallet. We are excited to announce a long-awaited update of the #Waves Mobile app! Deposit, store and withdraw your #crypto securely, trade your assets on DEX, lease your $WAVES — everything is now available right on your smartphone! Read more about it here: https://t.co/5Qp7YKTa8r pic.twitter.com/y5hsCXj2GV — Waves Platform (@wavesplatform) December 3, 2018 The post Tezos [XTZ] Story – XTZ and Waves Highest Gainers appeared first on Ethereum World News.
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