Topic: Tim Draper On BTC 'In 5 Years If You Use Fiat Currency, They Will Laugh At You (Read 287 times)
November 10, 2017, 06:15:22 AM
He, I assume, is talking about cashless society, not particularly bitcoin. Probably it will be true that 5 years from now, people would be using plastic money rather than fiat. But if its bitcoin then I will be more than happy to support it.
November 10, 2017, 05:37:14 AM
Using of bitcoin althrough without the the use of fiat currency will not just happen automatically. But in years to come majority of the companies and organization will prefer cryptocurrency to fiat currency.
November 08, 2017, 10:29:59 PM
"In five years, if you try to use fiat currency they will laugh at you," Draper told me at WebSummit
https://www.forbes.com/sites/johnkoetsier/2017/11/07/tim-draper-on-bitcoin-in-5-years-if-you-use-fiat-currency-they-will-laugh-at-you/#6aec9b23576b
Five years is entirely not enough time for bitcoin adoption to spread this ubiquitously; this wouldnt even be valid for general cashlessness. And LOL, Ill take your fiat five years from now, Ill take your fiat until I breath my last breath, and spend the shit out of it. you cant completely replace cash, nor would you want to (the government, any government, would love this however.) when you do, the private citizen loses the ability to make a private transaction. when you give this up, well shit, what else is there to give up? if the government can see all capital flows, if you buy nything it doesnt agree with, you will have to explain
November 07, 2017, 10:04:25 PM
Well the article is right. He is bullish. Overly bullish, even.
Five years is simply way too optimistic. Bitcoin's value is growing ridiculously fast, but I'm not seeing any statistics that adoption is. The points he raised for his arguments are spot on though. Moving Bitcoin across borders is free, and once it's accepted everywhere, there will be few reasons to still use fiat. First, though, the slow confirmations and high fees need to be addressed.
Five years is simply way too optimistic. Bitcoin's value is growing ridiculously fast, but I'm not seeing any statistics that adoption is. The points he raised for his arguments are spot on though. Moving Bitcoin across borders is free, and once it's accepted everywhere, there will be few reasons to still use fiat. First, though, the slow confirmations and high fees need to be addressed.
November 07, 2017, 12:58:33 PM
Very nice statement. Although I don’t think Tim mean that BTC will take over Fiat in 5 years. It show that BTC is coming strong and gaining recognition.
November 07, 2017, 12:54:23 PM
"In five years, if you try to use fiat currency they will laugh at you," Draper told me at WebSummit
https://www.forbes.com/sites/johnkoetsier/2017/11/07/tim-draper-on-bitcoin-in-5-years-if-you-use-fiat-currency-they-will-laugh-at-you/#6aec9b23576b
Bullish. I love statements like this, gives me hope about future
November 07, 2017, 12:53:09 PM
I do not think that the situation will change so much in five years in the field of using crypto currency that they will laugh at those who will use fiat. Crypto currency, especially bitcoin will become much more popular. By this time, infrastructure should already be well developed, enabling direct payment for goods and services by bitcoin and other crypto currency. However, in five years, the usual currency will still be actively accepted in financial calculations for various purchases or when executing contracts.
November 07, 2017, 12:25:34 PM
"In five years, if you try to use fiat currency they will laugh at you," Draper told me at WebSummit
https://www.forbes.com/sites/johnkoetsier/2017/11/07/tim-draper-on-bitcoin-in-5-years-if-you-use-fiat-currency-they-will-laugh-at-you/#6aec9b23576b
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