Another beautiful day here at Coinstaker, and we are looking at yet more market analytics and growth patterns. What to expect when you’re expecting? Why did Bitcoin fall in December? Was it because of Binace hacking or because of Kraken and CEX.io? Who’s good at market analytics? Who to trust? And where do you go if you’re looking for solid predictions?
You may remember our good friends from Saxo Bank who have famously predicted Bitcoin will be worth over $100 000 by the end of the year. Soros, on the other hand, has mentioned there won’t be much of anything if we’re expecting huge growth. We’re seeing large companies implementing blockchain on an industrial scale, which seems to indicate that there will be more need for cryptocurrencies. What do you think?
How Do You Make Predictions?
On our quest for answers, we have involved a billionaire investor Tim Draper More on him below), who is confident that Bitcoin is bigger than the Internet. Tim Draper, in the unlikely case scenario you didn’t know, is a venture capitalist and a successful entrepreneur who has more than a meme to show for himself when asked: “When Lambo?”.
Tim Draper, the guy who successfully spotted Skype, Hotmail, and Tesla (and therefore, it looks to us, the guy who can be trusted to make the right call), is sure that Bitcoins are the way forward. And not only that, Draper thinks that Bitcoins will far outdo the previous ventures:
“This is bigger than the internet. It’s bigger than the Iron Age, the Renaissance. It’s bigger than the Industrial Revolution. This affects the entire world and it’s going to be affected in a faster and more prevalent way than you ever imagined.”
What We Think
Certainly, there is much truth to this position (and we’re not just saying that because it coincides with our own beliefs).
The technology has been developing exponentially in the last few decades, and the technological advancements are now happening on a much greater scale than before. Add to that Bitcoin’s other advantages like traceability and the fact that it is remarkably easy to hide – and you have a complete package. Blockchain can offer a variety of services – from building a new infrastructure in Syria to filling up your fridge when it is running empty on milk – by itself. There is a lot to be said, certainly, for the case of Bitcoin, too, although there are points of view that blockchain will survive and Bitcoin will not.
We know we sometimes draw pictures of the future that seems so stark, full of promise, and poignantly beautiful that they are a little hard on the eyes. As we point out to you that Sophia The Robot is, in fact, something we could only dream of growing up with Azimov’s books, or the fact there are flying taxis and so on – you might wave an irritated hand at us. True, we could be too optimistic. Still, Draper, the holder of $30 000 Bitcoin which he allegedly bought in 2014, will outdo us all:
“In five years you are going to try to go buy coffee with fiat currency and they are going to laugh at you because you’re not using crypto. I believe that there will be a point at which you will no longer really want any of the fiat currency….I’m thinking $250,000 a bitcoin by 2022…Believe it. They’re going to think you’re crazy, but believe it. It’s happening and it’s going to be awesome!”
Who is Tim Draper?
Who is Tim Draper, you say? Well, Timothy С. Draper has founded The Draper University of Heroes in Silicon Valley…need we go on? Ok, he founded the Draper University of Heroes (that is actually the name) in Silicon Valley, where students are taught entrepreneurship using real-life practices and practical examples like a plethora of start-ups that have become profitable, raising colossal sums of money.
Tim Draper is also responsible for Draper Fisher Jurvetson (DFJ) and Draper Associates. In short, he is the epitome of success, just like Tai Lopez and Tony Robbins – and who else are you going to accept sage words of wisdom from if not someone mega-successful?
Tim Draper comes from a long line of Drapers who have all been phenomenally successful and went on to establish formidable businesses like Draper, Gaither, and Anderson (grandfather) and Draper & Johnson Investment Company (father).
Draper also was quite fond of Skype in its early stages (good thinking), when his company got a 10% stake in 2005, backed Theranos wholeheartedly and, according to some sources, “invented viral marketing” by attaching a sales message to an email.
Now that we have sufficiently convinced that Draper is a formidable force to be reckoned with, and certainly a credible authority on the subject of making money, what of the concept?
Cryptocurrency, in fact, does have a lot of potential. For one, it could do away with inflation completely. It could remove third parties from the voting process. It could change the way we all elect governments, and, in a sense, it could make it possible for everyone to have a say in any process rather than a small minority of representatives. It could render the banks useless, in the same way that Internet rendered censorship useless.
You could say, of course, that there are certain problems associated with Bitcoin like high fees and price jumps, but these all seem to be teething problems so far. The internet was slow, crippled even, and painful to watch at the beginning. With time, however, it is what it is (especially in Japan).
In a sense this means unlimited freedom to connect and arrange meetings with whoever we like. Now that there is a system that allows us not only to meet and greet but to arrange business deals – there truly is no limit to the freedom of the man. It is on this enthusiastic note that we leave you – with the warning to always do your research carefully before you invest, cross-reference witness statements and trust no-one but the highest and the most achieved authorities on the subject.
Image by Medium.freecodecamp.com.
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