Tim Draper news

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: ‘Everyone’ Will Buy Coffee With Bitcoin In 2021

Billionaire Bitcoin investor Tim Draper believes the world will be buying coffee with Bitcoin (BTC) in just two years – but does not plan on selling any. 2 Years To The ‘Coffee Standard’? In an interview with FOX Business February 18, the well-known Bitcoin advocate delivered the latest in his series of buoyant predictions for the cryptocurrency’s growth. “I think we’re probably two years away before everyone’s buying coffee,” he told the network. His comments come as attitudes towards Bitcoin’s place in the global economy shift away from transactions to store of value. As Bitcoinist variously reported, commentators consider the concept of Bitcoin as “digital gold” to be the largest cryptocurrency’s best shot at achieving dominance. Analysis of the Bitcoin blockchain has further shown a taste for ‘HODLing’ rather than spending among investors as the market continues its record-breaking downturn. Draper Banks On Lightning Network For Draper, the consumer payment element depends on scaling solutions, notably the Lightning Network, gaining suitable recognition. “As that starts permeating the system, it’s going to make it much easier to just use our phone and say, ‘Here, barista, do this,’” he continued. Finishing off the coffee topic, Draper added that by 2023, baristas would be “laughing” at those who tried to use fiat currency to pay for their purchases. Despite amassing huge amounts of Bitcoin, however, Draper says he has no plans to trade or spend any of his personal holdings. The next five years are crunchtime for the Tezos supporter’s bullish Bitcoin stance. By 2022, he previously claimed, BTC/USD would reach $250,000 per coin, one of the highest predictions to emerge from the industry. Despite this, Draper has stayed vague on how such growth will come about. Nonetheless, as Bitcoinist noted, Lightning alone has seen considerable expansion in the last few weeks alone. Publicity from Twitter CEO Jack Dorsey has combined with consumer-oriented payment offerings – the most recent of which being Bitcoin Pizza – hitting the market in order to make using Bitcoin more intuitive for non-technical holders. What do you think about Tim Draper’s coffee prediction? Let us know in the comments below! Images courtesy of Shutterstock The post Tim Draper: ‘Everyone’ Will Buy Coffee With Bitcoin In 2021 appeared first on Bitcoinist.com.

Billionaire Bitcoin Bull Tim Draper Has a Wild 5-Year Prediction for Cash and Crypto

Tim Draper has been one of Bitcoin’s most enthusiastic proponents. He was steadfast in his optimism even when other finance gurus thought he was crazy for giving the new-fangled crypto the time of day. Forgetting about the naysayers, Draper became about $89 million richer for sticking to his Bitcoin guns. He was steadfast while others, including JP Morgan CEO Jamie Dimon, made jokes about Bitcoin being tulips. FOMA, or simply recognizing the staying power of cryptos, JP Morgan shocked the financial community this month when it announced it would be the first major institutional bank to release its own cryptocurrency. The post Billionaire Bitcoin Bull Tim Draper Has a Wild 5-Year Prediction for Cash and Crypto appeared first on CCN

Tim Draper Predicts Only Criminals Will Use Fiat In Five Years

Bitcoin (BTC), Cryptocurrency–Bitcoin bull and billionaire investor Tim Draper has made headlines again with an interesting take on the future of cryptocurrency and fiat. On the same day that Bitcoin (BTC) nearly crested $4000, with the rest of the crypto markets experiencing a wave of green, the vocal investor made the claim that fiat is trending towards primarily criminal use. Draper, who has made high-profile claims before and is transparent in his support for Bitcoin as an investor in the digital asset, believes that BTC will be the predominant currency in five years. Compared to the  common mainstream narrative that cryptocurrency is primarily used by criminals, stemming from the storied past of The Silk Road, Draper believes that fiat will transition to the sphere of sole use by criminals. As noted by a U.S. Drug Enforcement Administration (DEA) agent in August 2018, the organization is beginning to prefer criminals use cryptocurrency over fiat due to the ease of tracking through blockchain. While typical blockchain based currencies such as Bitcoin may offer a level of anonymity in the ability to transact, the movement of capital is contained within a public ledger that can be traced for legal purposes. In the case of the DEA–and by extension Draper’s comment–blockchain provides a simultaneous security and honest-keeping record over traditional fiat. Speaking in an interview on Feb. 18 with financial news outlet Fox Business, Draper reiterated his position that Bitcoin is superior to traditional fiat, and predicted that in five years cryptocurrency will be the supreme form of currency with the latter being proven obsolete and relegated to the use of criminals. Draper also went on to state his belief that fiat in banks is less security than the value he stores through digital assets such as Bitcoin, claiming, “My bank is constantly under a hack attack,” while noting that no one has been able to hack or manipulate BTC backed by blockchain. This led Draper to go a step further, claiming that Bitcoin is substantially more secure than fiat, and generally represents a superior form of money. At one point, Draper compared exchanging Bitcoin to fiat as akin to trading gold for sea shells–an ode to the advancement that digital currencies have made in the face of their stagnant counterpart. While Draper presents an interesting scenario over criminal fiat use, the rise of Monero (XMR) and other privacy coins may disrupt that narrative. Not only do these currencies afford users the security and trust of blockchain-based transactions, but they also allow transactions to occur with complete anonymity. Some analysts have predicted that the need for privacy coins may drive the price of Monero and their like higher over the next decade, as digital assets for routine transactions such as buying a coffee become less sensationalized. However, Draper’s point to the outdated nature of fiat may have been partly represented in last week’s announcement by JPMorgan Chase to develop the JPMCoin. While JPMorgan’s new coin will not re-invent the crypto wheel, it does seek to offer an improvement in transaction speed and cost over the industry standard relying upon traditional money systems. The post Tim Draper Predicts Only Criminals Will Use Fiat In Five Years appeared first on Ethereum World News.
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Tim Draper Reacts to JPM Coin, Will Crypto Soon Become the Standard?

Tim Draper, billionaire venture capital investor with millions invested in crypto and long-time Bitcoin bull, recently shared thoughts on… The post Tim Draper Reacts to JPM Coin, Will Crypto Soon Become the Standard? appeared first on Invest In Blockchain.
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Cryptos Will Force Out Fiat in a Matter of Five Years, Claims Famous VC Tim Draper

CoinSpeaker Cryptos Will Force Out Fiat in a Matter of Five Years, Claims Famous VC Tim Draper Though even now when the crypto market is still under a serious pressure of the bearish trend, there are a lot of active supporters of crypto who believe in the bright future of the market, billionaire investor and known Bitcoin (BTC) bull Tim Draper is likely to have the bravest ideas. Fiat for Criminals In his recent interview, he claimed that in five years crypto would become widespread all over the world and only criminals would use fiat currencies. Draper has always been much more optimistic about Bitcoin than many other well-known crypto enthusiasts, including well-known supporters of crypto Coinbase CEO Brian Armstrong and Tyler and Cameron Winklevoss who founded the Gemini Cryptocurrency Exchange. But in fact, he believes not only in Bitcoin’s capacities to transform the world but in the capacities of the entire crypto market. Earlier, Draper had already expressed the idea that in five years fiat would lose its dominant status and that despite all the ongoing market trends Bitcoin would recover a full transition to cryptocurrency would happen. “Down the road, when we can easily spend, or invest, or do whatever we want with cryptocurrencies—they’re frictionless, they cost you less,” said he at that time. Now he reaffirmed his position and added: “The criminals will still want to operate with cash, because they catch everybody who is trying to use Bitcoin.” He explained such a prediction by the fact that criminal actions could be easily detected on blockchain, that’s why only the usage of fiat would give fraudsters a chance to stay unnoticed. New Cryptos and Bitcoin Nowadays nobody is surprised when some new crypto appears. Nevertheless, if a person for some years has been denying the feasibility of digital assets adding that Bitcoin is a “fraud” and “worse than tulip bulbs”,  and now claimed that his bank had created its own crypto asset, it may seem rather unusual. This announcement that was made by JPMorgan Chase chief Jamie Dimon may seem rather shocking for many members of the crypto community but not for Draper. According to him, such news is great for the whole industry. He also explained his position. “Not many bitcoin knock offs have worked particularly well, but they all add to the interest in bitcoin”, added he. Though the information on the bank’s JPM Coin didn’t boost Bitcoin’s price last week when it was revealed, now the coin has gained over 5%  over the last 24 hours and is traded for $3,938 at the time of writing. But still, its price is very far away from the record $20,000 height. However, Draper believes that in 2022 the coin will be traded for at least $250,000. Let us also remind that Tim Draper is not the only crypto guru who tries to convince the community that the best days for Bitcoin are still ahead. Quite recently, Jack Dorsey has stated that Bitcoin has good chances to become the Internet’s single native currency. Cryptos Will Force Out Fiat in a Matter of Five Years, Claims Famous VC Tim Draper
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Bill Harris, Kosala Hemachandra, Daniel Larimer and Tim Draper speaking on cryptocurrency and blockchain issues

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Billionaire Elon Musk Lauds Bitcoin As “Quite Brilliant,” Why Isn’t Tesla Going Crypto?

While Elon Musk has yet to formally delve into the Bitcoin space, he has long been a fabled member of the crypto community. Since finding his way to the headlines of the world’s media, the Tesla chief executive’s pro-innovation mindset has struck a chord with many enamored with cryptocurrencies. In fact, some say that Musk’s unsaid raison d’etre of bettering society at large, especially by amending the world’s most harrowing issues (climate change, confinement on Earth, financial inequality), lines up with the goals held by many cryptocurrency insiders. Thus, some have even argued that Musk could be Satoshi Nakamoto. Sahil Gupta, a former intern at Musk’s second multi-billion dollar enterprise SpaceX, once infamously claimed that Musk’s brief mentionings of cryptography, economics, the C++ computing language, along with the entrepreneur overarching vision scream Satoshi. The South African-Canadian entrepreneur has done his best to keep his mouth zipped regarding his candidacy for the Satoshi title, but that hasn’t stopped him from talking about cryptocurrencies. We had @elonmusk on the latest episode of @ARKInvest's podcast! He had a few things to say about Bitcoin. "Paper money is going away and cryptocurrency is a far better way to transfer value than pieces of paper." – Elon Muskhttps://t.co/U5qOnM7nBo — Yassine Elmandjra (@yassineARK) February 19, 2019 Bitcoin Is “Quite Brilliant” While the crypto market has remained in a depressed state, save for Monday’s jaw-dropping rally, stars have begun to descend on this industry. Weeks ago, NewsBTC reported that a mass of celebrities, including the Spice Girl’s Mel B, Johnny Depp, Madonna, and Lionel Messi, had some involvement in cryptocurrency. More recently, Jack Dorsey of both Twitter and Square took to Joe Rogan to claim that the native currency of the Internet is likely to be Bitcoin. Related Reading: Twitter CEO Loves Lightning on Bitcoin: is it the Future of Fast, Instant Payments? And just on Tuesday, Elon Musk, the most well-known Silicon Valley guru, took to the New York-based ARK Invest’s “FYI” Podcast to touch on Tesla’s plans, autonomy, other innovations, such as crypto. Per The Block, who compiled his comments regarding cryptocurrencies, Musk made his comments with explicitly bullish tones. After discussing Tesla’s most recent advancements, the hosts of the podcast, the CEO and an analyst at ARK, a disruptive innovation-centric investment group, took a brief aside. They asked Musk if he agrees with Dorsey’s recent comments on Bitcoin and cryptocurrencies at large. Interestingly, Musk responded with an answer, albeit somewhat cursory. He tacitly agreed, noting that the “Bitcoin structure was (is) quite brilliant,” adding that Ethereum and “maybe some of the others” have merit too. Musk did admit that he isn’t too enamored with Bitcoin’s Proof of Work (PoW) consensus mechanism, noting that it is energy intensive. Yet, he explained that fundamentally, crypto assets are great as they bypass currency controls, especially in nations embroiled in financial and political turmoil, like Venezuela. He added that cryptocurrencies are also a “far better way to transfer value than pieces of paper,” subsequently quipping that he’s sure of this “without a doubt.” In spite of all this, he made it clear that Tesla isn’t going to foray into the crypto space in any capacity, noting that it would be a good use of his firm’s resources to prop up an offering. Musk’s abrash comments quickly elicited responses from each and every corner of the crypto space. Matt Odell, a long-time pro-Bitcoin coder and industry personality, joked that the comments “confirmed” his bias that cryptocurrencies could oust banknotes. Changpeng “CZ” Zhao of Binance noted that eventually, “[Musk] will join the brotherhood,” adding that he is unequivocally sure that the businessman will take up a crypto mantle. CZ notably called on the Tesla founder to take up the Lightning Network Trust Chain torch last week, just days after Twitter’s Dorsey openly lauded Bitcoin in dozens of tweets. Crypto Is Better Than Banknotes? While Musk made notable acknowledgments in his brief appearance on ARK’s “FYI,” what stood out to many crypto investors was his thoughts on the dichotomy between banknotes & physical cash, and crypto assets, not centralized e-money. For a brief recap, Musk simply stated that he is unequivocally sure that crypto, whether it be Bitcoin, Ethereum, or otherwise, is a “far better” medium of exchange than pieces of paper. Shocking, right? This may be deemed hearsay by pundits of the legacy world, but the world is already adopting digital mediums of exchange. Per previous reports from this outlet, Arthur Hayes of BitMEX took to his company blog to claim that platforms like WeChat Pay and AliPay have already begun to take over China’s financial system. Who’s to say that cryptocurrencies, a decentralized counterpart to these systems that tout their own currencies, cannot have a similar impact on society at large. The fact of the matter is that these digital payments systems, whether decentralized or centralized, offer benefits that cash/plastic cannot. Case in point, payments on both Bitcoin and WeChat Pay are cheap, rapid, and relatively secure. But arguably, decentralized payment ecosystems, which are non-sovereign, private, immutable, and non-censorable, are even better than their centralized peers, which is likely what Musk was touching on. Featured Image from Shutterstock Billionaire Elon Musk Lauds Bitcoin As “Quite Brilliant,” Why Isn’t Tesla Going Crypto? was last modified: February 20th, 2019 by Nick ChongThe post Billionaire Elon Musk Lauds Bitcoin As “Quite Brilliant,” Why Isn’t Tesla Going Crypto? appeared first on NewsBTC.

In the Daily: Elon Musk Talks Bitcoin, Shanghai’s Fudan University, Xdat Exchange

In this edition of The Daily we cover some largely supportive remarks the famous entrepreneur Elon Musk has made about Bitcoin, the latest academic institution to launch a blockchain R&D center, and a new offering from Malta-based exchange Xdat. Also Read: Bank of Spain Report: Bitcoin Is a Solution for a System Without Censorship Elon Musk Talks Bitcoin The founder of Tesla and Spacex, Elon Musk, is once again making headlines about crypto. He recently went on the Ark Invest podcast to discuss the future of autonomous driving technologies. Most of the half-hour interview focused on the strategy behind his electric car company but the topic of cryptocurrency eventually popped up in the last four minutes. Musk commented: “I think the Bitcoin structure is quite brilliant. There seems like there is some merit to Ethereum as well, and obviously others. But I’m not sure if it’s a good use of Tesla resources to get involved in cryptos … We’re really just trying to accelerate the advances of sustainable energy. One downside of Bitcoin is … computationally it’s quite energy intensive. There has to be some kind of constraint on the creation of crypto. It’s very energy intensive to create the incremental bitcoin at this point … It bypasses currency controls. Paper money is going away, and crypto is a far better way to transfer value than pieces of paper. That’s for sure.” Shanghai’s Fudan University Launches Research Center Shanghai’s Fudan University has become the latest academic institution to launch a blockchain R&D center. Founded in 1905, Fudan is one of the most prestigious and selective schools for higher learning in China. The Shanghai Blockchain Engineering Technology Research Center is tasked with carrying out basic research in the field, developing demo applications in collaboration with the broader industry, and training talent to serve Shanghai’s economic development. Last month the University of California, Berkeley announced the formation of its own blockchain-focused startup accelerator program, the Berkeley Blockchain Xcelerator. This program is meant to help aspiring entrepreneurs create high-value ventures in the blockchain space with industry guidance from Silicon Valley. Xdat Exchange Lists 18 Trading Pairs Xdat, a new Malta-based cryptocurrency trading exchange, has announced the listing of 18 trading pairs. These comprise ETH/BTC, BCH/BTC, EOS/BTC, ETC/BTC, XRP/BTC, DASH/BTC, LTC/BTC, BTC/ETH, BCH/ETH, EOS/ETH, ETC/ETH, XRP/ETH, DASH/ETH, LTC/ETH, BTC/TUSD, ETH/TUSD, BTC/EURO, and ETH/EURO. The company has further plans to add other pairs over time. The exchange is compliant with Maltese regulations for KYC and AML procedures and caters to both retail and institutional investors. Its fiat gateway allows users to deposit funds in 12 major currencies: USD, GBP, JPY, HKD, CHF, AUD, NOK, SEK, DKK, CZK, PLN, and HUF. This selection is meant to eliminate the need for involvement of a foreign bank for the supported options and allows users to work solely with Xdat’s bank. “Xdat is on a mission to address the key problems of existing exchanges … including lack of flow of new capital, lack of trust, no approach for mass adoption, and high fragmentation,” said CEO Prashanth Swaminathan. “Our aim is to bring crypto to all. To that end, we will be working closely with our community and using their support and feedback to make our interface more user-friendly and trading as streamlined as possible.” What do you think about today’s news tidbits? Share your thoughts in the comments section below. Images courtesy of Shutterstock. Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com. The post In the Daily: Elon Musk Talks Bitcoin, Shanghai’s Fudan University, Xdat Exchange appeared first on Bitcoin News.
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Elon Musk Praises 'Brilliance' Of Bitcoin And Ethereum, But Clash With Tesla's Energy Stance

Main Street seems to be giving cryptocurrency a second look. Last week, Jamie Dimon and JPMorgan Chase & Co. (NYSE: JPM) announced an investment in JPM Coin, which will become the first digital token provided by a U.S. bank. This week, Tesla Inc (NASDAQ: TSLA) CEO Elon Musk lent cryptocurrency additional validation. “Paper money is going away, and crypto is a far better way to transfer value than pieces ...Full story available on Benzinga.com

Elon Musk Calls Bitcoin "Brilliant" | Here's Why He's Optimistic

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