Not only is he a venture capitalist he is also a bitcoin enthusiast we have to take note of that

I do think that the time where bitcoin will be used instead of dollars would eventually happen and there will be nothing to stop that from happening more and more, people are starting to recognize bitcoin not just as something invest in but as an actual currency to be used

It is crucial that we do not listen blindly to other people’s opinions because someone who does not like bitcoin even if they are an expert in their field will of course say that bitcoin will crash on the other hand someone who adores bitcoin will say otherwise

It is up to you to try and figure it out for yourself and as someone who has bitcoin, i can definitely say that bitcoin is our future

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.

I read the story of Tim Draper buying all 30K auctioned coins after losing 40k BTC In The Mt. Gox Collapse. He was such a fearless and strong believer in Bitcoin and it is always inspiring to read about Bitcoin believers like this. His predictions might be correct because Bitcoin has the potential to get to the amount Tim predicted but I don't see Bitcoin replacing the dollars. And I don't also think that Bitcoin was designed to be the only currency. Bitcoin will be an alternative currency for a long time. It is moving to a stage where it will take its place as digital gold, which means it might be used more as an investment.        

As much as this topic doesn't want to be discussed in public places and the reality of it doesn't sound good to the conventional financial system and the downside of the phasing away of the dollar, it still remains an obvious truth.

The introduction of the blockchain technology has further exposed the disadvantages of the conventional financial system and the banking systems have become limited in its operations and regulations knows this but it also renders them incapacitated.

Never trust for these influential people are talking about Bitcoin. They are not your friends, they are not your allies, their only goal is to enrich themselves, not help others get more rich too. If they are praising Bitcoin, predicting high prices or talking about BTC replacing something, it's because they bought a lot of it. And you know what comes after that? Some day they will sell to take a massive profit. And it could very well be that while these guys will pocket hundreds of millions, small investors will continue holding and waiting for that predicted magical price range that might never come or come decades away from now.

I remember that day in 2014 when the US Govt did the blind auction for like 27000+ BTC while Bitcoin was hanging around $600 and Tim Draper won by bidding like $630 or something. Cost him around 17 or 18 million dollars and it's now worth over a billion dollars 10 years later. Eventually he's going to hit 1000x on that and it'll be worth in the tens of billions.



Draper way overshot his $250k prediction. $250k I think has a good chance to happen in the 2029 bull market, so he predicted it probably 7 years early.


As to his comments...

Will we one day be able to buy pretty much anything with Bitcoin. Yes absolutely. Eventually bitcoin payments are going to be in every electronic point of sale system alongside credit cards, apply pay, google pay, etc.

Is it going to replace the dollar, or other national currencies. No. Let's get real. Governments aren't going to simply give up the currency that they literally create and control (giving them vast economic power) and switch over to a currency they have zero control over. ESPECIALLY the US because the dollar is the reserve currency of the world and that gives the US huge economic advantages over every other country.

But of course times are changing and maybe in the next few decades the world abandons the dollar and its just another currency. But still America, or any other nation that issues its own currency, isn't going to scrap the thing that gives them a lot of economic power and go to Bitcoin.

I mean maybe if nations as we know them, or at least the current nations that exist, literally collapse, Bitcoin could potentially be the front runner for global currency to take over. But assuming the geopolitical world stays roughly as it has been for a long time now, no Bitcoin ain't going to replace anything.

What Bitcoin will likely do is become the world's alternate currency, used right alongside all the national currencies. And most people are eventually going to probably do most of their savings in Bitcoin because why the heck would you have anything but short term savings in inflationary currencies when you can save in a supply capped currency (which other huge benefits like you own it yourself and its global).




And OP, no it's not going to happen soon. Probalby like 98% of people still don't have a clue what Bitcoin really is or they think it is some sort of scam risky tech thing it was a bubble "it's too late now, I missed out on it" destoying the environment etc. As long as the general public thinks those things it's not going to suddenly become widely accepted.

I'd say we have probably about two decades until the tide turns and Bitcoin starts being normalized by the general public. And during that time it's going to be a bumpy ride with most people still continuing to bad mouth Bitcoin. By the 2050s I think it'll be normalized and people won't hate on it anymore and they'll have no problem saving in bitcoin and spending it at stores or online. But they'll mostly be spending their national currencies, only using bitcoin to buy things when they are spending their bitcoin savings.

Digital currencies are gaining popularity day by day but it does not mean that it can easily replace world reserve currencies overnight. Maybe bitcoin is gaining popularity and the number of bitcoin customers is increasing day by day in a geometric way but it will be possible for bitcoin to replace the dollar but not easily possible.
People's confidence and interest in a currency decreases when the amount of inflation in that currency increases. When the rate of inflation of a currency increases, investors or holders do not want to hold those currencies because holding them depreciates in value over time.
When a currency's value declines over time, people distrust that currency. But people's distrust of the dollar has yet to arise and the dollar is still one of the most popularly accepted currencies in the world. Most of the world's investments revolve around the dollar, so replacing the dollar will not be an easy task.
However, if inflation is seen in the dollar over time and if people show distrust towards the dollar, on the other hand, if the popularity of bitcoin spreads like a revolution all over the world, and if the world's top class investors invest in bitcoin instead of dollars, then only bitcoin potential will be created.

I don't get it. You open a thread all excited about this guy who made a failed prediction about the price of Bitcoin? You might as well open one about McAfee and his promise that he was going to eat his penis on national TV if the price didn't reach $1M by 2020. And, yes Draper bought Bitcoin which has appreciated in value just as McAfee also had Bitcoin.


Is there any Bitcoin holder that is not bullish this 2024? I don't care if he is bullish or not.


Draper could have promised to eat his dick if that doesn't happen soon.


Of course not, I guess what Draper is doing is propaganda to encourage more people to invest and to increase the value of the Bitcoins he has.

Before thinking Bitcoin will replace Dollar, it's better if we going back to 20th century.

Gold was used to be an international monetary system, as we know gold is scarce and valuable. In terms of economic value, it's nothing different with Bitcoin since the price won't depreciated over time. Government was successfully brainwashed the citizens to trust Dollar that not backed with gold standard in 1971 until now because they can advantage over prints new money.

Why they need to going back to Gold Bitcoin standard and losing their advantage?