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