Tim Draper says Bitcoin could be bigger than the internet

in bitcoin •  6 months ago

Tim Draper says that Bitcoin will be bigger than skype, tesla, and hotmail, combined.

Not only that but Tim Draper says that bitcoin could end up being even bigger than the internet in terms of how much this new technology disrupts just about everything we do.

The internet disrupted many things and Tim Draper says that bitcoin and the underlying blockchain technology could go even beyond that.

Whoa, that would be pretty big.

Who is Tim Draper?

You may recall hearing the name Tim Draper recently, he is the one that famously stated that bitcoin will hit $250,000 by 2022.

More about his prediction can be seen here:

https://steemit.com/bitcoin/@jrcornel/bitcoin-to-hit-usd250-000-by-2022-it-might-not-be-as-crazy-as-it-sounds

Draper has been a long time tech investor who made a lot of his money during the internet boom of the late 90's.

He was an early investor in Hotmail, Skype, and Tesla, as well a host of technology companies, which is why he mentioned those 3 companies above comparing them to bitcoin.

The great debate:

Draper and Patrick Byrne, the CEO of Overstock.com, were involved in a debate at the Adam Smith Society 2018 on whether bitcoin ultimately is a bubble, or not:

It can be seen here:

It's a great watch if you get the time.

There is a great bull and bear debate, and you are left deciding which side made the best argument.

Most interesting part of the debate:

The line that is probably the most memorable from Tim Draper came within the first couple of minutes of the debate where he compared bitcoin to the dotcom bubble.

He said, look everyone called the dotcom bubble a bubble, the internet was called a bubble, but look it's still being used today, in fact there are those in the audience using the internet right now.

Which means it wasn't really a bubble in the sense that it is going away or going to zero.

In fact, it is likely just the beginning.

Prices may get ahead of the technology at times, but if it's here to stay, it ultimately will have tons of value.

Stay informed my friends.

Image Source:

https://mashable.com/2017/01/18/venture-capitalist-in-denial-theranos/

Follow me: @jrcornel

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That debate was really interesting and worth the watch.

I want some of that $250,000 BTC! 💰👍💰👍💰

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Do you have any yet?

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Yep! Going to the Moon Baby! 🤑🤑🤑

Great share. This is the beginning of a new era and a paradigm shift in banking. Most people 20 years from now will be transaction monetary values using crypto or blockchain. Fiat currencies will continue to lose value. It will ultimately be a good thing. Draper called $10,000 BTC by 2018 4 years ago. This man has forebearance and vision.

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Yes, good catch. He did call the previous massive price rise. Will he be right again?

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He has been right many times, maybe he'll be close. Maybe he'll be wrong and it'll be even more ;)

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Ha, that would be ok with me!

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I understand your view on Tim but bitcoin price is not predictable if you think logically so no one can guess bitcoin price. bitcoin has potential to gain if people put interest and money.

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Good post. ......??

Digital currency is the only way to make the world seamless. Blockchain and cryptocurrency is the ultimate future. If so, BTC price will rise that is the normal thing.

Did you see his apperance on Tucker Carlson with the Bitcoin tie? :D
I think he is right. We did see in Finland that the Universal Basic Income failed. Of course it did. Its just more of the same. More debt. More taxation of those who work. And more "theft" or "free" money to those who don't. It wont work.

And right now, the entire system has a scapegoat. Cryptos. Let people create their own money. Let's start a whole new economic system.Lets redefine currencies. And then they (politicians and central banks) can look good and not drive us directly into the abyss.

I think they are going to let people go free very soon. Norwegian state TV just did a very balanced piece on norwegian free town Liberstad the other day. Why did they do that? They dont do stuff like that not thinking it through. They are going to let more and more people opt out. It will lift the pressure on the welfare state. When people with low paying jobs..people on welfare etc start earning money on cryptos for walking, running, writing, taking photos, driving, reading, reviewing..etc etc..they won't need welfare. And speaking of jobs..in a few years most people wont have the kind of jobs they have today. Robotics, AI, automation..Like Vitalik says;

Skjermbilde 2018-04-23 kl. 21.59.12.png

Great post btw..resteemed!

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Good comment. I think it is a representation of how people have been feeling for a long time now. They are tired of the rich getting richer, often off of their own backs. Bitcoin and by extension crypto lets people be in control of their own wealth. Where that leads we will soon find out, but I think it is coming. The genie is out of the bottle.

Smart guy! Bitcoin is the future!!

The Draper family is well-known to the Bitcoin community. Tim Draper is one of the most active investors in the Bitcoin ecosystem. According to his sayings,
“We know that there will be a sort of cryptocurrency revolution, it has already started, this is no longer a science project”

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Is that like saying the genie is out of the bottle?

Bitcoin price can be in a bubble whilst the tech is still useful. As something entirely new, the market doesn’t know how to price it donut has massive volatility.

I totally agree with him blockchain technology has many rich possibilities.The evidence are all around us with companies finding use for it,it has been used to conduct election,it has created jobs just like steemit.The more the technology gets adopted by the masses and the governnent the more the value increases.Bitcoin happens to be the flagship for the blockchain tech.

Just the beginning of a new era but 99% of people are not aware of it.

Well he is 100% correct about this IMO. I think that is obvious

"Tim Draper says that Bitcoin will be bigger than skype, tesla, and hotmail, combined."

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Yea, he used those as examples because those were some of his major early tech investments.

Bitcoin and cryptocurrency is growing day after day . Thanks @jrcornel for keeping us informed

Given how markets work, successful projects will survive as long as they remain relevant to the economy. With the vision behind this new generation of techology, we will see rise and falls of many projects in the coming years. Therefore, doing homework on the general market as well as in the individual projects is the best way to identify the opportunities that will result in the big disruptors of the next decade.

Wow... Tim Draper is a really optimistic person, and I love his optimism. I just read his bitcion predictions and claims and I must confess it is really fascinating.
Bitcoin and cryptocurrency is the big deal presently. Although there will be many doubts from people, I'm 100% positive that Cryptocurrency will rule the world economic system in the nearest future.
You all that are doubting, Just try and recall that many people doubted the Internet too.
Thanks for this wonderful post @jrcornel

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Yep good point. They also doubted TVs, and computers, and the telephone, and the radio... I think you get the point?

what's your take on silver..? thanks..

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Honestly I don't follow it much. I have a little silver and a little gold, but bitcoin checks all those boxes for me as far as owning them and then some.

I want to agree with him, I'm always skeptical about advice on the cryto markets from well invested cryto investors. It behooves them to hype the market up as much as possible so it always seems they have their interests ahead of mine yknpw

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Great point. Keep in mind that they have a lot of money invested in bitcoin and it benefits them tremendously for bitcoin to eventually become a major globally accepted currency.

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exactly, but also who knows more than a well invested shareholder, double edged sword I suppose.

if he wants his prediction to be more accurate, he should replace the word "bitcoin" with "steem" ;).
sure, I sound like i'm joking around a little bit, but steem has the ability to compete with and even upend reddit, which is the 6th busiest website on the net. I really do think steem will be huge as a platform, and consequently will give immense value to the currency.

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Interesting thoughts. How high would steem go in that example?

Thanks for sharing update proving crypto currency news. I like it this bitcoin. I appreciate your busy.

We don't know how high cryptos will grow.We can only speculate.But we can be sure whole crypto market will be much bigger and stronger in the future.It's our lifetime opportunity to invest and get some good amount of money🤗

We have decided to put our money and our faith in a mathematical structure that is free of human or political failures. When regulators come to regulate Bitcoin for your own good, your answer should be Go to the devil!

Bitcoin not only comes to radically transform the currency. It will also do the same with corporations, macroeconomics, nation-states and the Internet. The Bitcoin will make the banks what the email did to the postal industry.The success of Bitcoin is due to creativity and innovation. It has nothing to do with government support.

Let's hope he's right :D

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DQmViNu6KhpvsSYaAw6uAi9knuwcVwRKhapLXSqpDaUJDba_1680x8400.png

I can see it.

It makes sense in a way. If you think about the internet now, it is a protocol that provides a platform for something to happen; whether that be commerce, entertainment, content consumption etc. These platforms themselves provide the basic framework for 'value' to be built upon but what really provides utility is the number of users actively using the platform. With this in mind, the users are the ones that underpin the value of the platform, yet they very rarely have any a) involvement in decisions for the platform and b) financial benefit from being a user.

Other than being a shareholder in one of the companies that derives income from internet users, people are contributing for no economic return. Cryptocurrency in this sense is a huge incentive as the centralization of not only power but value is given back to the network not a select group of central figures.

I think he's correct. The old regime is dying out. The younger generation is getting more tech savvy. As time passes by and teenagers start getting older they'll be using bitcoin and crypto on a regular bases. Coins=Paper Money = Debit/Credit Cards = Cryptocurrency . Technology is the future and crypto is at the head of it.

Bitcoin or Blockchain Tech is like internet version 2.0 in a different way.

I don't know about Bitcoin being bigger than the internet, but Blockchain, yes, it will be bigger than the internet because it will reach and touch more people on Earth.

Draper is the man

Yes, these type of talk is really important because in my opinion some people with an agenda trying to defame the Bitcoin saying as scamming is increasing and it's an bubble and many more speculations, but when we hear great words for Crypto market by giants, that tells the whole story so in my opinion these are initial and tough days but big days yet to come. Thanks for sharing the video with us and i will definitely going to watch it. Wishing you an great day. Stay blessed 🙂

Smart guy... I wouldn't bet against him!

Great article, thanks for sharing. I've smashed the upvote button for you!

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You have a good blog, I followed you. I hope that you follow me, let's develop Steemit together and develop even…

well, crypto is the future of the future

We agree that Time Draper is a trustworthy spokesperson for the new age of technology. It is also true that there is always speculation around new technology. This speculation comes from curiosity and that makes cryptocurrency more popular because everyone wants to know what the latest trend is. We at Blockbasis think that cryptocurrency and Bitcoin are definitely going to be a big part of our lives in the future. It is only a matter of time before it becomes larger than it is today and gains more ground as real life use cases continue to pop up around the globe.