Evangelist and promoter of bitcoin Tim Draper claims that after 5 years the cash will be used only by criminals, and the rest of the world will move to cryptocurrency.
Tim Draper was one of the most enthusiastic fans of bitcoin. He was adamant in his optimism, even when other financial gurus thought he was crazy.
Draper earned more than $89 million because of his investment in bitcoin in less than five years. He was adamant when others, including the CEO of JP Morgan Jamie Dimon (Jamie Dimon) said that it was a fraud or joked about what it’s like Tulip mania.
JP Morgan shocked the financial community this month when he announced that he would be the first major investment Bank which will release their own cryptocurrency, JPM Coin, prompting criticism in the community.
Draper congratulated the so-called “entrance” of JP Morgan in cryptoprocessor.
He said this Sunday on Fox Business:
Some skeptics of bitcoin worked particularly well, but they all added interest in bitcoin.
Draper had previously stated that bitcoin and other cryptocurrencies will change the way consumers purchase goods.
He pointed to the legendary company-giant fast food- KFC, which offered a chicken for bitcoin. Also the coffee lovers via their mobile phones and scan will be able to pay for a latte bitcoin.
Because Lightning Network begins to penetrate the system, it will allow us a much simpler calculations just using our phone. I guess in five years we will try to pay for the coffee of Fiat money, and the Barista will laugh and say: you have no crypt?
The only people who still use cash, there are criminals, sure Draper.
More money never will be used only by criminals. Criminals still want to use cash, as law enforcement will catch anyone who tries to use bitcoin for criminal purposes, as only criminals would want to spend bitcoin, those blocks will be affected, so cash will be the only way for criminals.
I feel that my money in the Bank is less safe than my bitcoin. My Bank is constantly under attacks, they are constantly working to keep hackers. My bitcoin is more secure than my dollar.
No one today could not break the blockchain of bitcoin.
Draper still ask the question: “When are you going to sell your bitcoin?”
I say why? This is how to take the gold and throw away it. Why do it? Why should I return to the past, when I know that the future is bitcoin and other cryptocurrencies?
Draper is optimistic about even ICO. At the conference, CES in Las Vegas, he said that tokens provide companies with alternative means and capital.