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Bitcoin [BTC] is a better currency and it’s a matter of time before the world adopts it, says Tim Draper




Bitcoin [BTC] is a better currency and it's a matter of time before the world adopts it, says Tim Draper
Source: Unsplash

Tim Draper was and always is bullish when it comes to Bitcoin and cryptocurrencies as his prediction that Bitcoin will hit $250,000 in 2022 still stands strong as he firmly believes in it.

Draper spoke about the current market crash cycle that is being experienced by people in the crypto-ecosystem by giving his insights and predictions, in an interview with Cointelegraph.

According to Draper, the fluctuation was normal despite people trying to manipulate the market and move it in their favor. Although the crypto-market follows the FUD and FOMO from the mainstream media, Draper said that he looks at this crisis as an opportunity to buy into the market.

He further added:

“This [Bitcoin] is it’s just better currency. So it’s just a matter of time before the world adopts the better currency. And I think it’ll be as soon as I can do everything with my Bitcoin that I can with my dollars. And then everyone’s going to start looking at it and say, why do we even deal in dollars when we have Bitcoin? It’s so much easier.”

With Bitcoin there is less friction and there aren’t added or extra fees that has to be paid to a central controlling authority or even deal with inflation, Draper explained. He proceeded with his prediction for the future saying:

“I have a pretty good idea that the Bitcoin price in 2022 or 2023 is going to be about $250,000 and that’ll be two things at work. One is that the dollar will decrease in value relative to crypto. And the other is that Bitcoin will take a larger and larger market share of all currency around the world.”

Furthermore, Draper said that the future for Bitcoin is very good and that one had to be realistic and not a pessimist to adopt Bitcoin, which is going to be a major currency of the world in the future.

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Akash is your usual Mechie with an unusual interest in cryptos and day trading, ergo, a full-time journalist at AMBCrypto. Holds XRP due to peer pressure but otherwise found day trading with what little capital that he owns.

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    December 5, 2018 at 5:46 AM

    Ask a man who owns 30,000 Bitcoin and you get the kind of response you get here..One massive shill to increase his own already fat pockets..Mans a complete tool.

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Bitcoin [BTC] will be vulnerable to quantum computing if we’re not prepared, says Andrew Poelstra

Biraajmaan Tamuly



Bitcoin will be vulnerable to Quantum Computing without preparation, indicates Blockstream Researcher
Source: Pixabay

Security is an important aspect of every crypto-asset and Bitcoin [BTC] is often dragged into debates on whether the blockchain is protected from hacks or vulnerable to certain technological developments.

In a recent episode of whatbitcoindid, Andrew Poelstra, the Lead Researcher at Blockstream, was asked about whether Quantum Computing was a genuine threat to the existence of some Bitcoin on the current blockchain.

Poelstra indicated that the threat was evident, but it was still a long way off from being practical in the current technological field. He mentioned that he expected quantum computing to come into play against the security of Bitcoin in “maybe less than 15 years” and said that he would be really surprised if “it was less than 25 years”.

Poelstra said that it was necessary to take actions in the current scenario for post-quantum systems because he believed that without any preparation for the impending technological aspect, it did not matter how the future rested. Without preparation, the community was going to be blindsided, he said.

He stated,

“It’s important now that we started working on standardization and exploring ideas and exploring what Bitcoin is going to look like in a post quantum world but in the current scenarios there were no candidates for post quantum schemes that would be reasonable to deploy them in a Bitcoin.”

The introduction of quantum computing in the cryptocurrency scenario was a topic which was widely debated among other personalities in the community as well. Mati Greenspan, a prominent eToro Analyst, had started earlier this year that the threat only existed to Bitcoin if quantum computing was available to only one person.

If people or users collectively upgraded to quantum computers, then the Bitcoin miners would upgrade among themselves to protect it from an alleged 99% attack, which is possible with a quantum computer.

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