Tim Draper: Bitcoin is a superior currency that frees people
Bitcoin is a superior currency that frees people, according to venture capitalist Tim Draper in an interview with The Bitcoin of Crypto Street. Bitcoin frees people and is a cheaper and smoother way to send money worldwide in minutes.
Bitcoin is not tied to a government
Draper named various forms of currency in world history, from shells to gold. In the 21. Century currencies are based on belief in the government, he said. But BTC came into existence as a currency that is not supported by any government and that offers global payments.
BTC also serves as a store of value, but is cheaper compared to bank or credit card transactions, adds Draper.
“That frees us, because governments have always used that currency to control us,” he added.
The Bitcoin network is still up to 0 transactions per day through. This is extremely low compared to VISA or MasterCard networks, but the Bitcoin infrastructure has enabled it to send huge sums of money with very low fees and no geographic restrictions, unlike central expensive institutions.
Bitcoin and censorship?
BTC is not really free for everyone and some governments are trying to censor bans in some states. However, the network is able to withstand censorship as new nodes emerge where others disappear.
The use of BTC is limited, if you use exchanges and Fiat changes. BTC is also not completely anonymous, as it gives the ability to tag addresses and track deposits. For Draper, however, this transparency may be a preferred feature, with a perfectly legitimate record of where the funds go.
Draper was also convinced that governments needed to adapt to the introduction of Bitcoin because of the new technology. It is gratifying that BTC has survived for more than a decade and despite the “Bitcoin is dead” comments and tightened regulations is growing steadily.
Text Proof: bitcoinist
Last update: Sunday, . October 14629