There are many people that we can talk about the virtues and benefits of BTC. However, this becomes interesting when it is someone who possesses it in large quantities and it basically has built her life based on it. This is the case of Tim Draper, one of the most optimistic, with Bitcoin. Get to know more of your insight here.
Tim Draper is the founder of the firm’s global risk capital, Draper Associates, and network Draper Venture. In addition, he founded the Draper University of Heroes, a school for-profit that teaches entrepreneurship, which operates in-line and in Silicon Valley.
In a recent interview, Draper answered some questions that give us a glimpse into their vision better.
The beginning of everything: Tim Draper on Bitcoin
Draper commented that despite the fact that his interest in the cryptocurrencies began officially in 2010, since the idea of digital cash was around his head since 2001 or 2002.
Specifically, he commented that the idea of a world where the digital took importance arose when he met a business man Korean that he paid someone to play on-line for him, in the time that it was working.
“That meant to me that there would be a virtual version of all, virtual real estate, health care, virtual, virtual money,” said Draper. Therefore, when it appeared Bitcoin, he has already had time to hover around the idea.
So, it was deepening its interest, until the opportunity came to buy BTC in large amount in an auction made by the Body of Marshals of the united States. To do this, Draper made an offer above the market. With this, obtained almost all of the auctioned off.
Tim Draper is one of the advocates most radical of Bitcoin, and to prove it, you can always see him using his tie to BTC and giving interviews about it.
What is the advantage of Bitcoin, that the cryptocurrencies not?
People are more familiar with BTC before. According to Draper, Bitcoin has a better performance than the coins and trust to put as an example the printing of four thousand million dollars made by the u.s. government.
According to Draper, what happened is that they “watered down the dollar by 20%. My dollars are decreasing in value as we speak in relation to Bitcoin and other investment products”.
To this he added, “there are Only 21 million Bitcoin out there. Makes a lot of sense to hold on to Bitcoin. You do not want to hold dollars.” Without a doubt, Draper sees the future linked to the digital currencies.
“The best place to put my money in Bitcoin”.
How does Draper to the criticisms that have been made to Bitcoin?
The misconceptions about Bitcoin abound, according to Draper. To correct them, said that “the people say that it is used for criminal activities, and the opposite is true. They are trapping all the crime. If you are a criminal, you should use cash.”
Criminals could get something out of Bitcoin through some illegal activity, but then this wallet can detect and sign easily. After that, no one can take money out of that wallet.
“The chain of blocks of Bitcoin has never been hacked. But the banks are being hacked all the time.”
In addition, with respect to the volatility of Bitcoin, Tim said that he sees things the opposite way. “A Bitcoin is still worth a Bitcoin, but with the time all the other coins are fading slowly”.
The position of Tim Draper does not seem that will change in the near future, as he believes that in a globalized world this coin transparent and cross-border will be more and more necessary.