📢 ₿ Bitcoin will replace Dollar? Even celeb venture capitalists are saying this

[CODE200]

Tim Draper is an investor not just in Bitcoin but a ton of other tokens aand he has also been investing in ICOs back when they were still a thing in 2016-2018. If there's one thing I know about these venture capitalist like Tim Draper is that they're not too interested in the technical side of things. As long as they can shill their bag (BTC) and numbers go up, they are good

Btw, the quotes from the video is talking about things that are already happening and nothing new - These days, you can most things or pay for services using Bitcoin.

They're not interested with a successful project, they're more excited about just investing in the project and it booming at the first time then going bankrupt because that way they're getting more out of the deal and most of the time these venture capitalists are the reason why there's a lot of projects and companies that are popping up out of nowhere and those projects aren't even that close to being finished, that's why a lot of the businesses that these venture capitalists have invested into are failing most of the time, being a venture capitalist is a hit or miss endeavor. I don't want to believe that too, I don't believe any of that and it's most likely that he's shilling on bitcoin with this claim, probably wants to cash out as quickly as possible to fund his ventures.

[Bitco55]

Honestly, I think we'd just have to wait and see. The probability of Bitcoin becoming a legal tender is 50/50. Some experts already said that it's possible for Bitcoin to replace the world's global reserve because of its ability to offer efficient ways of storing wealth and transferring value across borders. Also, it's becoming widely accepted. But at the same time, it has limitations which have made some of us to believe and accept that it can only be an alternative to money.

So, we'd just have to wait and see if Bitcoin lives up to the expectations or remains an alternative asset.

[Minor Miner]

Don't you ever really think that the day is not far away when people will no longer ask for dollar for anything?

Dollar is a legal tender and more stable. But in long term, it is a depreciative asset. Dollar is better than the fiat of many countries. Why is bitcoin not dominating yet in those countries with high inflation rate? There is nothing that will compete against fiat because it has its own purpose.

Bitcoin is not a substitute but an alternative because it is more volatile but it is an appreciative asset. That does not makes it a substitute but an alternative.

I agree with you mate. The fact is that we are talking about something at a time that we have a hard time imagining being true.

When Neil Armstrong conquered the moon, a very small percentage of people believed in it, even in this age of civilization, people still talk about them.

Friends we all say that Bitcoin is digital gold and sometimes even say BTC is better than Gold.

The funny thing is when we say U.S. dollar is backed by Gold, our feelings are not hurt. But when we want to say that it is going to happen very soon that the U.S. dollar could be backed by BTC in the future., then our feelings become steep.

[Z-tight]

Honestly, I think we'd just have to wait and see. The probability of Bitcoin becoming a legal tender is 50/50. Some experts already said that it's possible for Bitcoin to replace the world's global reserve because of its ability to offer efficient ways of storing wealth and transferring value across borders. Also, it's becoming widely accepted. But at the same time, it has limitations which have made some of us to believe and accept that it can only be an alternative to money.

It is not about waiting to see, there is no probability of BTC replacing the U.S. dollar or any fiat currency. Take note that there is no worldwide legal tender, each country has their own legal tender and BTC is a legal tender only in El Salvador.

It is worth mentioning that even if more countries decide to make BTC a legal tender alongside their fiat currencies, it does not mean that BTC is now replacing fiat, BTC is a decentralized currency, it cannot become the world's reserve currency in a 'centralized world' and for a centralized government. The government would always operate with what they can control and influence: fiat, cbdc's, banks...etc.

[m2017]

A few days ago I've seen someone in this forum talking about the Silk Road acquisition, if I recall correctly this is Draper who single handly scooped up around 30K BTC (not 30K worth of BTC, its 30K BTC ) from the US govt when they opened an auction to sell BTC from Silk Road operation in 2014.

The owner of such a significant number of bitcoins clearly has motives to claim that BTC will cost $250k or more.

In this interview, Draper's keynote was that he figured out the US Government's shift to Bitcoin. In recent times the government able to realise the actual benefits of Bitcoin. Also, he said some other things which are very interesting, why? cause I found no celebs dare to make such kind of talk on Live TV show.
I am presenting his exact statement to you through screenshots, I also quoted his statement below.

Of all the public people (like bankers, investors and other bigwigs from the traditional financial system) talking about bitcoin, Tim Draper is the one I liked the most because of his positive attitude towards bitcoin. But the statement about the US Government's shift to Bitcoin now sounds to me like too hasty and loud a statement. What evidence is there for this?

I actually think that there will be a moment in time when I can buy my food, clothing, and shelter all in Bitcoin. And people won’t want dollars anymore.

Don't you ever really think that the day is not far away when people will no longer ask for dollar for anything?

To begin with, at a minimum, in order for people to abandon the dollar and begin to use bitcoin at the official level as a means of payment, it will be necessary to adjust the legislation, since only the dollar is legal tender in the United States (or national currency in any other country).

This looks to me like another blowing up of the topic by blinded BTC-fanatics who overestimate the capabilities of this asset and are completely unwilling to look at what is happening through the prism of sanity.

[kryptqnick]

I think $250k in 2025 is pretty realistic, but the figure was clearly too high for 2022. Still, maybe it's a price for the bull market after the next one, we don't know how high it will go this time.
It's nice that some people are open, excited and supportive. Such people can help lobby for the right laws and give Bitcoin a reputation boost. But living to a time when you pay with BTC and nobody wants dollars seemed far-fetched to me. The USD is doing really well for a fiat currency, so there's just no reason for the US and the world to get rid of it.

[thecodebear]

Saying Bitcoin will replace fiat currencies is like back when Ethereum was supposed to be "the world computer" hahaha


It's taking a thing to its ideological extreme. A thing that is simply not going to happen.


Ethereum, so far, ended up being a network for crypto apps that are mostly useless because they all use their own centralized token, and NFTs that so far have been utterly useless because instead of using NFTs for useful things its all just digital pictures that you can copy/paste lol

Bitcoin, maybe in some far distant future where the current nations and their currencies have all collapsed and Bitcoin is only obvious option, maybe then it replaces fiat currencies like the dollar. But as long as there are government to ensure their own currency is the unit of account for their economies, Bitcoin ain't replacing anything. It'll be a great alternative for society, but its not a replacement.

[Antotena]

Don't you ever really think that the day is not far away when people will no longer ask for dollar for anything?[/size]

I was interested in a the statement where he said there is going to be a time when Bitcoin can buy food and other services, is he in the 19th century to figure out that this has already been in existence? We have people that accepts bitcoin for services and even some to buy items. I have seen lightening Network apps that are offering service for lightening speed so that people can buy and sell things to each other without waiting for days for transaction to be settled in case their is congestion of mempool.

Among all he mentioned, they are valid points but among all he said, we need approval for Bitcoin to excel. If the government gives approval of people to use bitcoin, it will grow more than we can ever imagined but because we priorities decentralization, that may be difficult a little and I don't think bitcoin can spread feathers to all parts of the world if it doesn't have legality status of government.

[decodx]

The concept behind Bitcoin was to make a currency that didn't rely on governments or central banks.  Governments probably aren't too thrilled about something they can't control that could undermine their power and  a currency that cant be messed with or shut down and can't fund politicians' pet projects? I bet that freaks them out a bit! 

Could Bitcoin totally replace the dollar? That's a long shot.  Governments arent just gonna hand over the keys to the castle.  They'll hold on tight to power as long as they can.  Still, maybe someday a decentralized currency like Bitcoin will be too big for them to stop.

Who knows!

[famososMuertos]

I don't know why there is a tendency to put certain "persons" that are respected in their classist environment and show themselves as if they were the way to the truth, when an asset like bitcoin does not need their speeches, since it itself is the truth of what it represents in advantages and innovation with respect to the traditional financial system, which makes it in itself a viable alternative.