Bitcoin Forum

Famous venture capitalist Tim Draper believes that Bitcoin and cryptocurrencies will eventually dominate the world.

Betting on Bitcoin

Tim Draper was one the few venture capitalists that strongly believed in Bitcoin and cryptocurrencies before they became mainstream. According to a recent Forbes article, Tim Draper first thought about virtual currency 15 years ago while he was in South Korea. In 2014, the California-based investor was featured on several news sites as he purchased around 32,000 Bitcoin, worth nearly $20 million through an auction by the U.S. Marshals Service. The coins were seized from the famous Silk Road darknet marketplace.

In the Forbes article, he stated:

I believe that Bitcoin and crypto will drive most of the commerce of the world.

Tim Draper also added:

I don’t know why anyone would want to go back to fiat when crypto is distributed, secure and global, while fiat is subject to the whims of political forces.

At the peak of Bitcoin’s price, Draper’s coins were estimated to be worth over $600 million.

Cryptocurrencies will Replace Fiat

This isn’t the first time Tim Draper stated his strong belief for Bitcoin and cryptocurrencies. In a CNBC article, he stated that in the near future, cryptocurrencies would replace fiat currencies in commerce. He stated:

In five years, if you go to a Starbucks or McDonald’s and try to buy a burger or coffee with fiat currency, the person at the counter is going to laugh at you.

Reports suggest that Draper has invested in 40 different cryptocurrencies.

Continue reading >> http://bitcoinist.com/tim-draper-bitcoin-cryptocurrencies-will-take-world/

so I expect this will be just one of many statements made by "famous" people
the time has come to drive the price up,there was too much of a dip, 6000$ price was enough
for the powers manipulating the market,further fall would have been unacceptable and created too much risk
now the crypta markets will grow for the same zero reason it has been falling lately
this is just my imho,but it is pretty obvious to me it is as manipulated as the gold,oil etc. prices
25% growth in one day,expect it to stabilise at 9000-10000$

and Tim Draper is correct,the cryptocurrencies will take over the world,you can laready see
the forces behind them and what their goals are,fiat money arer quickly becoming obsolete in the future society

He invest lot of money in cryptocurrency whether it is a certain coin or some crypto related project like Coinbase for example.When he say that BTC will be worth 10 000$ in 2014 many have not taken it seriously,but we saw that he was right.I wish he is right with what it predicts for the future,maybe Starbucks or McDonald’s will not accept BTC in next 5 years,maybe it will take longer then that,but I share some of his thoughts.

It is interesting that he invest in others cryptocurrency also,so he is not only belive in BTC.It is good decision ,he know that it is not smart move to keep everything in the same basket.

I, too, share the same belief as his but NOT to the extremes such as others laughing over traditional fiat. I want to help raise awareness that having Bitcoin is necessary, practical and convenient but not to the point of sales talking my way in. I want them to believe of possibilities in the most realistic way possible, like I did when I first came in. I hope others too will pitch in and be constructive in every way.

Alongside this article, I know what we are surmising and that is to try to sway people by the testaments of famous investors. Well, surely this will work but definitely it has all been done in the past. I hope we come up of ways that is long term and cost efficient at the same time. That way, cryptos will have better days ahead.