The World Needs a New Kind of Currency

[aimey]

The World Needs a New Kind of Currency, Bitcoin: Investor Tim Draper

“Bitcoin is the future currency,” he said, “Why would I sell the future for the past? Why would I go grab some weird fiat thing that’s subject to the whims of some government?”

As for Bitcoin’s upside, Draper argued that “the world market for currency is $86 trillion. I think that will be crypto. I think a very large portion of that will be crypto.”

Draper speaks almost of a new world order created by Bitcoin (and cryptocurrency technology, generally). “The unbanked are bankable through Bitcoin,” he asserts, with banking regulations making it unfeasible for banks to open accounts for those without sufficient cash. The unbanked, Draper insists, represent half of the world’s population.

On the question of security, given the history of exchanges being hacked and cryptocurrencies being stolen, Draper stood firm. “My Bitcoin is more secure than my dollars in the banks.” The blockchain has not been hacked, he argues, whereas banks have been “over and over”.

https://www.ccn.com/world-needs-new-kind-currency-bitcoin-investor-tim-draper/

What's your opinion about the statement of Investor Tim Draper, will the bank and government be alarmed,  and do something that would affect us negatively?

[sakib.bro]

the question is if the world needs another kind of currency then what will be the purpose of it???
only exchange will not be the main reason
u have to bring something special lyk bitcoin has its own blockchain
so u have to bring something special for that currency in order make it popular

[Rahman11]

It's hope of Tim Draper! also many peoples around the world hope now bitcoin will be lead future currency like dollar and euro! but at present many countries government didn't accept bitcoin as a currency by many kinds of excusing but I think once many of countries will be aware about bitcoin security and they're also accept it.

[Shrinath]

“Bitcoin is the future currency,” said the founder of venture capital firm Draper Fisher Jurvetson, “Why would I sell the future for the past? Why would I go grab some weird fiat thing that’s subject to the whims of some government? The world needs a new kind of currency”.

Amid the turmoil surrounding the Mt. Gox hack, Draper’s foresight and intuition at the time proved remarkable. Despite losing a quarter of a million dollars himself, he noted that “Bitcoin only dropped about ten percent on the news that Mt. Gox, the biggest exchange in Bitcoin basically stole or lost… all that Bitcoin.” To Draper, Bitcoin’s resilience in the face of the major disruption the Mt. Gox hack presented it, “meant the world needs this.” When pressed as to the possibility of Bitcoin potentially falling back below $1,000 from the current price around $9,000, Draper was unfazed. Acknowledging volatility in currency markets but arguing the chances of a such a fall were unlikely, the venture capitalist spun the question around. Was Bitcoin volatile against fiat currencies or were fiat currencies volatile against Bitcoin?

As for Bitcoin’s upside, Draper argued that “the world market for currency is $86 trillion. I think that will be crypto. I think a very large portion of that will be crypto.” Draper speaks almost of a new world order created by Bitcoin (and cryptocurrency technology, generally). “The unbanked are bankable through Bitcoin,” he asserts, with banking regulations making it unfeasible for banks to open accounts for those without sufficient cash. The unbanked, Draper insists, represent half of the world’s population. On the question of security, given the history of exchanges being hacked and cryptocurrencies being stolen, Draper stood firm. “My Bitcoin is more secure than my dollars in the banks.” The blockchain has not been hacked, he argues, whereas banks have been “over and over”.

[Meysa_richa]

It is true that the money in the bank is also often stolen for no apparent reason, and where bitcoin using Blockchain technology is much more secure than the bank, and we can also provide security code in our respective accounts such as as well as 2FA security, I also feel more secure having funds in bitcoin.

[TepungBeras]

It is true that the world needs new money and cryptocurrency is very suitable to be the currency of the future because of its users who are very sample and value added, this is very profitable.

[RioAnjay]

The World Needs New Currency Types, why?
I think all countries still need their own currency, why do they need a new currency, what do you mean by that new currency is bitcoin ?, it is true that this digital currency has been widely accepted in many countries and bitcoin can be converted into paper currency But it all depends on the decisions and interests of the country, my hope bitcoin can be accepted in all countries but no need to change the currency of the country because the local currency is the identity.

[colmenajose]

The world needs a type of currency, accepted all over the world, without exchange houses, that offers security, and that in turn generates a rate of return, better than a checking or savings account in a bank. This coin, without a doubt, looks like Bitcoin.

[maydna]

maybe this is the purpose of bitcoin for a long-term and because bitcoin cannot be controlled by anyone, bitcoin will be a new currency and work side by side with the fiat currency. I think with bitcoin, we don't have to worry if we want to travel in other countries because we have the same currency and we can also use directly to buy something or pay something because bitcoin can work without any limitation of the places.

[pentol86]

the government should change their rules, the future is crypto, and it can be parallel with fiat

[think3214]

the question is if the world needs another kind of currency then what will be the purpose of it???
only exchange will not be the main reason
u have to bring something special lyk bitcoin has its own blockchain
so u have to bring something special for that currency in order make it popular

Bitcoin can not be the world's currency in the future. I believe this, people need to improve the applications to meet the requirements of people around the world, and safety to 100%, then the new bitcoin can become the common currency of the world. . But apart from that, some countries do not have internet, they do not know how to use computers, so it is hard to make bitcoin a common currency.

[Herbert2020]

bitcoin is a big revolution of our time which has been changing the financial world. it may never replace fiat completely but bitcoin will surely become very big and adopted all around the world despite what some people are trying to convince the world about bitcoin with their FUD.
even if the governments ban bitcoin in a couple of countries, it won't matter not for bitcoin in general and not even for those countries. people will continue adopting bitcoin and continue using it as much as they can.
it is best to get involved with this revolution even if your involvement is too tiny, that way you won't be left behind.

[brengoskandel]

that's the impossible, making one currency for the whole world
what else if the choice is bitcoin, the first reason why I do not agree, because the number of bitcoin there are only 21 million, how could it be in for the whole world
and the second, regarding transaction costs, delivery that takes a long time, and bitcoin can not be used in places that do not have an internet connection
i prefer bitcoin like this

[Michellekking]

The World Needs a New Kind of Currency, Bitcoin: Investor Tim Draper

“Bitcoin is the future currency,” he said, “Why would I sell the future for the past? Why would I go grab some weird fiat thing that’s subject to the whims of some government?”

As for Bitcoin’s upside, Draper argued that “the world market for currency is $86 trillion. I think that will be crypto. I think a very large portion of that will be crypto.”

Draper speaks almost of a new world order created by Bitcoin (and cryptocurrency technology, generally). “The unbanked are bankable through Bitcoin,” he asserts, with banking regulations making it unfeasible for banks to open accounts for those without sufficient cash. The unbanked, Draper insists, represent half of the world’s population.

On the question of security, given the history of exchanges being hacked and cryptocurrencies being stolen, Draper stood firm. “My Bitcoin is more secure than my dollars in the banks.” The blockchain has not been hacked, he argues, whereas banks have been “over and over”.

https://www.ccn.com/world-needs-new-kind-currency-bitcoin-investor-tim-draper/

What's your opinion about the statement of Investor Tim Draper, will the bank and government be alarmed,  and do something that would affect us negatively?

I think it's very difficult for bitcoin to become the new currency of the world. First, it is difficult for many countries around the world to ban bitcoin, and to allow these countries to accept the legal status of bitcoin. Bitcoin, which is anonymous, is not created by some countries in the world. They can't control bitcoin and gain benefits from it, so they won't accept it.
Second, the bitcoin has many shortcomings, such as its price is not stable, its speed is slow, its transaction cost is very expensive, it is also limit the currency to become one of the reasons for the global currency

[krishnaverma]

The World Needs a New Kind of Currency, Bitcoin: Investor Tim Draper

“Bitcoin is the future currency,” he said, “Why would I sell the future for the past? Why would I go grab some weird fiat thing that’s subject to the whims of some government?”

Is bitcoin being used mainly as currency ? I see people using it as an investment medium. Everyone wants to get paid in bitcoins but no one is ready to pay in it. People are not ready o spend their bitcoins and are thus accumulating it. Reason is that there is tremendous growth potential in terms of prices.

[SonOfNorth]

Is bitcoin being used mainly as currency ? I see people using it as an investment medium. Everyone wants to get paid in bitcoins but no one is ready to pay in it. People are not ready o spend their bitcoins and are thus accumulating it. Reason is that there is tremendous growth potential in terms of prices.

Basically nobody uses it as currency, and calling it an investment is speaking way too highly of cryptocurrencies as well. These are highly speculative assets, hardly a wise 'investment' really, more akin to gambling. Good if you have extra money you don't mind losing, but make sure that you have your actual investment portfolio in check before diving into crypto.

[Fundamentals Of]

The World Needs a New Kind of Currency, Bitcoin: Investor Tim Draper

“Bitcoin is the future currency,” he said, “Why would I sell the future for the past? Why would I go grab some weird fiat thing that’s subject to the whims of some government?”

As for Bitcoin’s upside, Draper argued that “the world market for currency is $86 trillion. I think that will be crypto. I think a very large portion of that will be crypto.”

Draper speaks almost of a new world order created by Bitcoin (and cryptocurrency technology, generally). “The unbanked are bankable through Bitcoin,” he asserts, with banking regulations making it unfeasible for banks to open accounts for those without sufficient cash. The unbanked, Draper insists, represent half of the world’s population.

On the question of security, given the history of exchanges being hacked and cryptocurrencies being stolen, Draper stood firm. “My Bitcoin is more secure than my dollars in the banks.” The blockchain has not been hacked, he argues, whereas banks have been “over and over”.

https://www.ccn.com/world-needs-new-kind-currency-bitcoin-investor-tim-draper/

What's your opinion about the statement of Investor Tim Draper, will the bank and government be alarmed,  and do something that would affect us negatively?

Thanks for this, mate. This is a great read and an awesome eye-opener. This is the kind of perspective the world needs. I hope those who are so negative about Bitcoin and cryptocurrency will read this and have at least an idea of why cryptocurrency is the future. The world is not advancing in terms of money if we continue to use our traditional fiat currency which is being controlled by the banks. That is a very obsolete thing right now. We are going online and yet we are using some paper bills.

[Gontxi]

It's hope of Tim Draper! also many peoples around the world hope now bitcoin will be lead future currency like dollar and euro! but at present many countries government didn't accept bitcoin as a currency by many kinds of excusing but I think once many of countries will be aware about bitcoin security and they're also accept it.

yes, we hope bitcoin can be a counterweight of the banking. I have great hopes bitcoin can be part of this world in a legal way. without needing to be the first currency to beat the dollar, I think it's too hard for the near future.

[lynlyn]

The World Needs a New Kind of Currency, Bitcoin: Investor Tim Draper

“Bitcoin is the future currency,” he said, “Why would I sell the future for the past? Why would I go grab some weird fiat thing that’s subject to the whims of some government?”

As for Bitcoin’s upside, Draper argued that “the world market for currency is $86 trillion. I think that will be crypto. I think a very large portion of that will be crypto.”

Draper speaks almost of a new world order created by Bitcoin (and cryptocurrency technology, generally). “The unbanked are bankable through Bitcoin,” he asserts, with banking regulations making it unfeasible for banks to open accounts for those without sufficient cash. The unbanked, Draper insists, represent half of the world’s population.

On the question of security, given the history of exchanges being hacked and cryptocurrencies being stolen, Draper stood firm. “My Bitcoin is more secure than my dollars in the banks.” The blockchain has not been hacked, he argues, whereas banks have been “over and over”.

https://www.ccn.com/world-needs-new-kind-currency-bitcoin-investor-tim-draper/

What's your opinion about the statement of Investor Tim Draper, will the bank and government be alarmed,  and do something that would affect us negatively?

Thanks for this, mate. This is a great read and an awesome eye-opener. This is the kind of perspective the world needs. I hope those who are so negative about Bitcoin and cryptocurrency will read this and have at least an idea of why cryptocurrency is the future. The world is not advancing in terms of money if we continue to use our traditional fiat currency which is being controlled by the banks. That is a very obsolete thing right now. We are going online and yet we are using some paper bills.

Yes this is really can help to commercialized the best of bitcoin and on how it's really works for the bitcoiners future.Hopefully bitcoin will be recognized as a new currency for all over the world.The fact right now was we can denied that bitcoin is the only we to push up and change our life.

[zenrol28]

It's about time for these new kind of currencies to be adopted and use worldwide. We can't stop evolution. The only thing that banks and governments can do is to hop on this train. Make cryptocurrencies more secure by making laws against fraudulence.