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TMZ

Kenny Smith Says Lakers’ 32-Year-Old Rookie Andre Ingram Has an NBA Future

April 11, 2018 |

The 32-year-old Lakers rookie who just had one of the craziest debuts in NBA history is just getting started — so says Kenny Smith.  We got The Jet the day after he watched Andre Ingram drop 19 points on the 1st-place…

TMZ.com

ABC Developer Amaury Séchet on the Future of Bitcoin Cash

April 4, 2018 |

ABC Developer Amaury Séchet Talks About the Future of Bitcoin Cash

At the bitcoin cash-focused Tokyo event, Satoshi’s Vision Conference, many movers and shakers and cryptocurrency luminaries got together with Bitcoin.com’s product manager Mike Malley to discuss on-chain scaling and spreading BCH adoption worldwide. During this particular video, Malley chats with Amaury Séchet (Deadalnix) the lead developer of Bitcoin ABC, and the man who revealed the August 1, 2017, hard fork to the world.

Also Read: Testing Cryptocurrency Atomic Swaps With Barterdex

Instant Confirmations and the Never Ending Scaling Debate

ABC Developer Amaury Séchet Talks About the Future of Bitcoin CashIn this Bitcoin.com broadcast our host, Mike Malley, talks about the future of bitcoin cash development with the lead developer of the full node client Bitcoin ABC, Amaury Séchet. The software programmer talks to our host about the speech he gave during the Tokyo event concerning his vision of the future of bitcoin cash development.

“It’s generally a talk about the kind of direction I would like to see bitcoin cash go. The first part of the talk was more of what are the values of the project — that informs people of what we want to do, “ Séchet explains.

The second part of the talk is the kind of direction we want to go — mainly there is a lot of stuff, but the two most important points is instant confirmation and scaling, scaling, scaling…. That’s a problem that can never be solved.”

Alternative Implementations

ABC Developer Amaury Séchet Talks About the Future of Bitcoin Cash
Amaury Séchet (Deadalnix)

Séchet further details his opinion on other development teams like Bitcoin Unlimited and Parity who have also produced alternate BCH clients. The Bitcoin ABC lead developer believes it’s a good thing to have multiple implementations as each one keeps “everyone honest.”

“One of the things we did very earlier on is to make sure the client and the coins are two separate IDs so other clients can join. And very quickly Bitcoin Unlimited made a client that is compatible — I think that it is great because if one client started going rogue it would start to lose market share and another client will gain that market share. It’s keeping everybody honest,” Séchet details.

Following the remarks, Séchet explains that multiple implementations are similar to keeping a government from writing bad laws in a world where ‘code is law.’ In fact, Séchet also says miners are analogous to police or the “justice system.”

“It’s important to have several implementations for two reasons: the first is a technical reason if there is a bad bug in one implementation, if you have another, you can keep the network running,” Séchet tells Bitcoin.com’s, Mike Malley. “The social reason is that when you have an implementation, and you can compare it to a government, the people who write the implementation are essentially the ‘lawmakers.’ The law is the code, and we write the law, and the miners are the law enforcers.

You want to keep the lawmakers honest and one of the problems in traditional government they are a monopoly. So if you have more than one implementation, it keeps everyone honest. If one implementation writes bad laws or a bad feature people are going to switch to another client.       

OP-Codes, Colored Coins and Ethereum-like Features for Bitcoin Cash

After Séchet discusses alternative clients, the developer talks with Mike about the OP-group discussion, colored coins, and giving the cryptocurrency bitcoin cash ‘ethereum-like’ features. OP-codes, and colored coin technology could bring representative assets and smart contracts to the BCH network. If you want to hear what Amaury Séchet has to say about the future of bitcoin cash development then make sure you watch the video below.

What do you think about the video with Bitcoin ABC lead developer Amaury Séchet? Let us know what you think in the comments below.


Images via Shutterstock, BCH, Pixabay, and Jamie Redman. 


The Bitcoin universe is vast. So is Bitcoin.com. Check our Wiki, where you can learn everything you were afraid to ask. Or read our news coverage to stay up to date on the latest. Or delve into statistics on our helpful tools page.

The post ABC Developer Amaury Séchet on the Future of Bitcoin Cash appeared first on Bitcoin News.

Bitcoin News

Bitfinex Rejects All Present and Future Venezuelan Cryptocurrencies

March 28, 2018 |

Bitfinex Rejects All Present and Future Venezuelan Cryptocurrencies

Bitfinex has announced that it will not list or transact Venezuela’s new “oil-backed cryptocurrency” or any other tokens that the country may issue in the future, citing U.S. sanctions. Meanwhile, the Venezuelan government has reportedly set the minimum investment amount for the petro initial coin offering. 

Also read: South Korea Clarifies Position After Reports of Possible Ban on All Crypto Transactions

Bitfinex’s Restrictions on the Petro

Bitfinex Rejects All Present and Future Venezuelan CryptocurrenciesCryptocurrency exchange Bitfinex announced on Tuesday its stance regarding Venezuela’s new digital currency, the petro (PTR). “We see the PTR as having limited utility,” the exchange wrote, adding that “it could be construed as an attempt to circumvent legitimate sanctions” against the Venezuelan government.

Bitfinex Rejects All Present and Future Venezuelan CryptocurrenciesStarting on March 19, the US government has “prohibited U.S. persons from all transactions related to, provision of financing for, and other dealings in, any digital currency, digital coin, or digital token issued by, for, or on behalf of” the Venezuelan government, Bitfinex detailed. This includes the central bank of Venezuela, the state-owned oil company (Pdvsa), and any entity owned or controlled by or acting on behalf of Venezuela’s government.

Bitfinex says its restrictions include not only the petro, “but may include other tokens as and when introduced in the future,” adding:

We have never had plans to include the PTR or similar tokens in the Bitfinex trading platform. In light of the U.S. sanctions and the other clear sanctions risks of dealing in these products, Bitfinex will not list or transact the PTR or other similar digital tokens.

Effective immediately, this policy applies to all Bitfinex customers and to all activities on the exchange such as deposits, financing, trading, and withdrawals. In addition, all contractors and employees of the exchange are also prohibited from transacting in the petro or other related digital tokens.

Petro ICO Update

The Venezuelan government claimed that the pre-sale of the petro, which supposedly began on February 20, has raised 5 billion dollars from 133 countries, local media reported. However, there has been no proof of whether any transactions have taken place at the time of writing. According to the whitepaper, the petro initial coin offering (ICO) started on March 20. The new currency can be purchased with euros, rubles, yuan, and Turkish liras as well as three cryptocurrencies – bitcoin, ether, and xem, as news.Bitcoin.com previously reported.

Bitfinex Rejects All Present and Future Venezuelan Cryptocurrencies
Nicolas Maduro.

Last week, President Nicolas Maduro ordered the use of the petro in state operations including those of the Pdvsa. Among the services to accept the petro are tourist services. However, Ariadna Zamora, head of a travel agency, told AFP that “Nobody has explained anything at all. How do you trust in something you do not know?”

On Wednesday, the news outlet reported that the Venezuelan government has set the minimum investment at 1,000 euros (~USD$ 1,234) for the petro. Anyone trying to register to buy the petro would see the message “Keep in mind that the minimum investment is 1,000 euros for bank transfers,” the news outlet wrote. In addition, “the funds must be transferred to state accounts in euros and rubles.” Citing that 13 million people earn the minimum wage in Venezuela which is equivalent to 4.5 euros (~$ 5.55) on the black market, the publication noted that the minimum investment amount “is unattainable for the majority” of Venezuelans, adding:

With 1,000 euros you can buy about 20 petros, because each one is worth 49.4 euros (61.2 dollars), according to the price reported on Tuesday by the Ministry of Petroleum.

Do you think Bitfinex is right not to touch the petro? Let us know in the comments section below.


Images courtesy of Shutterstock, the Venezuelan government, and Bitfinex.


Need to calculate your bitcoin holdings? Check our tools section.

The post Bitfinex Rejects All Present and Future Venezuelan Cryptocurrencies appeared first on Bitcoin News.

Bitcoin News

Satoshi’s Vision 2018 Conference Report: Bolstering the Future of Adoption

March 26, 2018 |

Satoshi's Vision 2018: Bolstering the Future of Bitcoin Cash Adoption

This weekend many bitcoin cash supporters gathered in Japan for the Bitcoin Unlimited event, Satoshi’s Vision Conference. The three-day conference was filled with synergy as the event was the largest bitcoin-centric conference to-date in Tokyo.

Also read: Slush Pool Mines the First ASIC Boost Block Sparking More Debate 

Bitcoin: A Peer-to-Peer Electronic Cash System

Satoshi's Vision 2018: Bolstering the Future of Bitcoin Cash Adoption Over the last three days, an event was held in Tokyo Japan aiming to bolster the adoption growth of bitcoin cash (BCH) and on-chain scaling called Satoshi’s Vision Conference (SVC). The event was hosted by the Master of Ceremonies Taariq Lewis, the founder of Aquila, and saw many special guests including Bitcoin Unlimited’s Peter Rizun and Andrew Stone, Bitcoin ABC’s Amaury Sechet, Nchain’s Craig Wright, the Satoshi Nakamoto Institute’s Daniel Krawisz, Centbee’s Lorien Gamaroff, and many more bitcoin cash evangelists.

The night before the event saw an extremely large BCH Tokyo Meetup at the bar Good Heavens which was so packed there was another bar across the street to attend to the overflow. The following day Satoshi’s Vision began with registration and talk by Jerry Chan the president of SBI Holdings subsidiary SBI Bits. Chan greeted the crowd with a speech about how individuals can make bitcoin cash the best money in the world and how SBI Bits is helping fuel the cryptocurrency landscape.

Satoshi's Vision 2018: Bolstering the Future of Bitcoin Cash Adoption
Attendees waiting for the next presentation.

Following Chan’s opening talk participants listened to Daniel Krawisz discuss how BCH proponents can entice him to support BCH alongside how they can entice others as well. Basically, Krawisz describes what would entice him to split his old UTXOs and sell BTC for BCH. Krawisz explains some of the key methods of persuasion:

Investment is like survival — The key to success is convincing people who are paying attention that BCH will survive. Whatever is going on around here a long time from now, BCH will probably still be part of that mess.

Participants also saw Cornell professor Emin Gün Sirer talk about scaling bitcoin x100000, Bitcoin.com’s Emil Oldenburg discuss colored coins, and other guests like the founder of Yours.org Ryan X Charles, and bitcoin XT developer Tom Harding among other on-chain scaling evangelists throughout the afternoon. Alongside that, the audience listened to a panel discussion which talked about tokens and colored coins, another hot subject right now within the BCH community. Following the day of speakers, BCH fans met up for another social held by the Bitcoin Cash Fund.

Satoshi's Vision 2018: Bolstering the Future of Bitcoin Cash Adoption
Colored coins panel discussion.

The following day saw great talks by the BCH Tokyo co-founder Ken Shishido, Bitcoin Unlimited’s Andrew Stone and Peter Rizun, as well as Bitcoin ABC’s lead developer Amaury Sechet, talk about the future of bitcoin cash. Bitcoin.com’s CEO Roger Ver told the crowd how BCH can increase economic freedom worldwide.

“We’ve heard about a lot of people that were involved in what used to be a digital currency mock the idea of using it as a currency,” Ver explains talking about how core supporters don’t respect that bitcoin was made to be a currency and why he thinks bitcoin cash is the closest to Satoshi Nakamoto’s white paper and the true intentions of bitcoin.  

But I think the people in this room are excited about digital currencies, not ‘store of value’ currencies that don’t work very well at storing value if they’re not being used as a currency.

Satoshi's Vision 2018: Bolstering the Future of Bitcoin Cash Adoption
Dr. Craig Wright

That evening SVC guests were invited to a special dinner hosted by Calvin Ayre’s firm, Coingeek, a strong supporter of bitcoin cash and on-chain scaling. On the last day of the event, attendees listened to Christina Storey who discussed how to be a “good investor” and a talk by Josh Ellithorpe on the bitcoin cash integration at Coinbase and the intricate steps the firm took to make it as smooth as possible for users. After lunch participants heard from Open Bazaar developer Chris Pacia and how his team is building an online decentralized marketplace. At the end of the discussion, Pacia noted that “Satoshi may or may not be speaking after me” just before Dr. Craig Wright entered the room to the Metallica song ‘Enter Sandman.’

Dr. Wright talked about the many things the community can expect from him and the blockchain company Nchain, such as research findings and studies on bitcoin and scaling the network. Further Dr. Wright delved into a slideshow touching on bitcoin network topology and small world vs mesh. However, he got the crowd really fired up when he stated:

Bitcoin is all I work on, bitcoin is my life — For the next 10, 20, 30 years, bitcoin is all I will work on — My goal is for five billion people to use bitcoin daily.

At the end of SVC, many participants said goodbye to the people they met for the first time in person and new friends who supported BCH. The last presentation had a panel discussion on bolstering bitcoin cash adoption and getting BCH on every phone worldwide.

Satoshi's Vision 2018: Bolstering the Future of Bitcoin Cash Adoption
The final panel discussed “Marketing and Adoption: How do we get a BCH wallet on every phone?”

Overall the event was a great success in the beautiful city of Tokyo, and it seems there is a very strong force behind BCH here in Japan. If you missed out on attending Satoshi’s Vision in Japan or didn’t catch the live stream you can still watch the entire SVC event here, and individual presentations can be found here.

Did you attend the Satoshi’s Vision Conference or watch the live stream? Let us know what you think of this event in the comments below.

Disclaimer: Bitcoin.com was a sponsor for the SVC event in Tokyo. 


Images via Pixabay, Shutterstock, SVC, and Jamie Redman.


At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.

The post Satoshi’s Vision 2018 Conference Report: Bolstering the Future of Adoption appeared first on Bitcoin News.

Bitcoin News

TMZ

DJ Paul Says We Need Guns to Protect Ourselves in the Future

March 24, 2018 |

DJ Paul has a very dark and scary vision of our future, which is why he says we need guns … including assault rifles. We got the Memphis rapper at LAX Saturday and asked him about gun control, the hot-button issue of the day with March for Our…

TMZ.com

PR: Viola.AI Announces New Joint Venture Partnership with MegaX to Build AI-Driven Worldwide Shopping Experience for the Future

March 14, 2018 |

Viola.AI Partnership with MegaX to Build AI-Driven Worldwide Shopping

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

SINGAPORE – The World’s First Blockchain and AI-driven Marketplace from dating, courtship and marriage, Viola.AI announced today a new exciting Joint Venture partnership with MegaX, a wide and growing retail network of more than 40,000 brands with existing 5,000,000 customers — to build the future AI-driven Retail Shopping experience for millennials.

This strategic partnership will allow Viola.AI to be the AI template to be integrated into MegaX Retail platform and network through Viola.AI’s open source, where the AI with personalized machine learning engine and natural language empathy feature from Viola.AI will be able to provide timely recommendations to address each user’s needs for goods and services from over 40,000 brands in 27 countries.

MegaX also hosts a first-of-its-kind global millennial online mall, created by fashion and lifestyle conglomerate iFashion Group that combines its native cryptocurrency MGX, with the emerging retail network. It was formed due to the need for a growing pool of independent, exciting and eclectic brands to reach their targeted market. MegaX also hosts large-scale music and retail events, such as Artbox Singapore, which had a turnout of 600,000 consumers over 2 weekends in 2017.

Holders of VIOLA tokens will be able to use their tokens to make transactions in the future AI-driven retail network in MegaX and both sides are exploring mutual airdrops for their respective community and customer base.

“We are very excited at this partnership with Jeremy and his team at MegaX! Since the beginning, we aim for Viola.AI to be open source together with ready APIs that easily adapted and deployed across industries and platforms. Through this partnership with MegaX, we can maximize and develop on our goal of helping different industries in the world with greater personalization, where our AI can prompt relevant goods and services based on their needs, timing and wherever they are. It also extends Viola.AI template into new revenue streams and market opportunity,” said Violet Lim, CEO & Co-Founder of Viola.AI.

Speaking about the JV, Jeremy Khoo, Group CEO of iFashion Group and Co-founder of MegaX which has also recently closed its token sale and raising over $ 3.3million, and currently trades on several exchanges said, ”We envision MegaX to be the future of retail, one that adopts new technologies because we see firsthand the struggle of retail. We share this vision of not standing still and wanting to change things for the better with Violet, Jamie and their team at Viola.AI. We look forward to integrating Viola.AI to MegaX to give shoppers all over the world a better experience.”

Viola.AI will be starting their Public Sale on 14 March 2018 at 12pm (UTC+8). It’s an exciting time for the company, after it concluded its strong pre-sale, selling all allocated 7.5 million tokens 5 days early. It also just recently announced partnerships with 7 lifestyle merchants around Asia and the team is currently working on its MVP, set to launch in May 2018.

For more information on Viola.AI and to join the whitelist, visit www.viola.ai

Join the discussion on Viola.AI Telegram: https://t.me/ViolaAI

About Viola.AI
Viola.AI is an ever-improving, decentralized and secure A.I. Driven Marketplace that gives data-driven advice, recommendations, concierge and matches to helps singles to be effective and efficient in finding love while also helping couples to sustain and better their relationships with their significant other. Harnessing on AI, blockchain technology and trustless smart contracts, Viola.AI sets to revolutionize the love industry.

About iFashion Group
iFashion is a leading venture conglomerate company focused on investing and acquiring fashion and lifestyle e-commerce ventures based in Southeast Asia. To create synergy among businesses, the Group aggregates highly complementary businesses via mergers and acquisitions in its sectors of interest. The Group acquired, most notably, local O2O brands Dressabelle and Megafash, in the lead up to an IPO.

Contact Email Address
christina@viola.ai
Supporting Link
www.viola.ai

This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

The post PR: Viola.AI Announces New Joint Venture Partnership with MegaX to Build AI-Driven Worldwide Shopping Experience for the Future appeared first on Bitcoin News.

Bitcoin News

Captive Children ‘Starting to Make Plans for Future’: Mayor

February 25, 2018 |

Two California parents already facing dozens of charges for allegedly keeping their 13 children captive and torturing all but the youngest are now facing even more charges, CNN reports. A spokesperson for the Riverside County District Attorney announced Friday three more counts of child abuse against both Louise and David…
Newser

PR: SaaS Company Axpire – for a Better Future

February 21, 2018 |

SaaS Company Axpire

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

aXpire is an ERP SaaS company offering a suite of products to increase efficiency of service spend and general profit margins. We recently underwent a token sale where we reached our $ 20m hardcap in only 89 hours. As we relaunch our website, we think now is an opportune time to outline the future of aXpire.

To give a high level background, we tend to think of our company as four quadrants, making up a greater whole. We are split between P2P vs. B2B and front end vs. back end. Right now, we have only one quadrant of the company fully built out and in use; Resolvr. This application represents our B2B back end product, responsible for spend management. We are building out a front end add-on, to handle RFPs, under the Resolvr name. Businesses will be able to put out RFPs in a standardized front end, with metric-driven filtering, and full back end spend management support. Our P2P products are built around the concept of a consumer version of our B2B software, a platform for exchange of services and a back end of spend analysis.

What follows is an overview of these products and an overview of recent announcements, with a final look at what the future holds for aXpire.

P2P Product: MatchBX

Our P2P marketplace, Matchbox Blockchain Exchange, MatchBX (pronounced “Matchbox”), is a relatively new concept in the life cycle of aXpire, incorporated in light of the strong demand for crypto-based services in the market. We saw a demand for handling RFPs in the B2B context, and have translated that into a higher volume consumer environment. We are allowing individuals to participate in the platform as part of the new economy, either as a freelancer or as a task creator. We will power this product, as with all of our products, with AXP – driving token value in (yet another) use case.

We will work to expand our Preferred Provider Network, right now featuring Devery among others, to offer customers access to trusted and preferred sources of high value services. This network will provide users access to a trusted product, sometimes at bonus or discount prices, through partnerships these companies have with aXpire.

In the background of this product we will run a different kind of spend analysis, demand prediction, which will drive additional preferred partners to our site. Think of it like surge demand on Uber, except without the associated price increases – we simply point partners towards early indicators of demand and the need for supply to fill any gaps.

We will implement a small fee on all transactions via an AXP burn.

B2B Product: Resolvr

With Resolvr, users are able to view, in real time, spend data across their company; providing live data for intelligence profit maximization. The AXP token serves to reduce the incentive for cyber security threats by securely decentralizing the distribution of our software. As a founding member of the International RegTech Association, aXpire’s blockchain technology leaves an immutable trail of transactions; providing value throughout the auditing, compliance and reporting process.

The methods in use at current businesses are demonstrably inefficient, which is improved with our software as it connects both fringe tasks and central tasks into one; effectively cutting costs by considerable amounts.

Businesses looking to utilize all Resolvr processes will need to use our native token, AXP, on a function by function basis, or in advance. Resolvr’s blockchain enhanced version will be as user friendly as possible, in terms of the AXP token not needing to be shown on our front end, but still serving as the underlying utility token; driving transactions and functions.

Recent Announcements

We continue to make exciting talent acquisitions, including Dom Wolf, as Product Lead. Dom is a Group Product Director at Virgin Mobile, a company associated with sleek design and user friendly products. He is experienced in the fintech sector, and has built his own successful startups, as well as mentored many others. Dom will be the Product Lead on our P2P marketplace, MatchBX, and will act as an active intermediary between management and the UI/UX team. We’ve also onboarded Gina Papush, as Data Analytics Advisor. Gina is the Global Chief Analytics & Data Officer for QBE, and is recognized for proven leadership and expertise in analytic innovation and data-driven strategies. During her 20-year career, she has successfully built leading decision analytic and information management capabilities across diverse industries and business models, delivering significant business results.

We are also excited to announce a fully in-house development team on a go forward basis. Namely, we are proud to announce a new UI/UX acquisition, Henry Doe, who is an award-winning London designer. Henry’s blockchain experience includes a role as UX Lead at Lloyd’s of London. Additional members of this development team include Sojan P S, Blockchain Lead, and Sankar Das G, Product Development Lead. Our other new acquisitions to the in-house blockchain development team will also be announced soon.

Our Future

Expect more updates; our network will only keep growing as we move forward along our roadmap. We look forward to announcing a partnership with a number of significant players in the crypto space and continuing to add to our team. We will aim to share weekly/bi-weekly updates with the community going forward to keep those committed to our project as in the loop as we can, while allowing for time to work on the project. Expect product updates as well, with the potential for early feedback and MVP testing.

Moreover, we remain busy with product development, and will look to sharing our progress with the community as we go.

Contact Email Address
mm@axpire.com
Supporting Link
www.axpire.io

This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

The post PR: SaaS Company Axpire – for a Better Future appeared first on Bitcoin News.

Bitcoin News

Tim Draper on Bitcoin: “Why Would I Sell the Future for the Past?”

February 21, 2018 |

Tim Draper on Bitcoin: “Why Would I Sell the Future for the Past?”

One of the most intriguing things about the cryptocurrency space is the diverse, eclectic, and often eccentric characters it attracts. Everyone from Wall Street brokers to cypherpunks and from industrialists to anarchists can be found staking their claim in the fledgling crypto economy and saying their piece. In a recent interview, venture capitalist Tim Draper was on fine form, producing a number of memorable quotes which encapsulate the bullish mood permeating the cryptoverse once more.

Also read: Kathleen Breitman: Tezos Will “Go Rogue” and Launch Soon

Hodling the Future in Place of the Past

“I think bitcoin is the future currency,” opined Tim Draper on Thursday. In a typically upbeat interview, the entrepreneur, whose net worth has been placed at $ 1 billion, had a lot of nice things to say about bitcoin. In the most quoted segment of his Bloomberg interview, Draper reasoned, ““People ask me, ‘Are you going to sell your bitcoin [for fiat]?’ and I say, ‘Why would I sell the future for the past?’” This augments previous remarks when Draper was quoted as saying: “I don’t know why anyone would want to go back to fiat when crypto is distributed, secure and global, while fiat is subject to the whims of political forces”.

Tim Draper on Bitcoin: “Why Would I Sell the Future for the Past?”While bitcoin’s status as a pure currency is a matter of some debate, it and the crypto assets it shares a space with are forming a new class of wealth storage and money transfer that offers a viable alternative to the status quo. Like most business moguls who are heavily invested in crypto – Michael Novogratz; the Winklevoss twins – Draper is very bullish about where bitcoin is going. The 59-year-old made his money at Draper Fisher Jurvetson, the venture capital firm famed for its investment in billion-dollar startups.

Fortune Favors the Brave

More than 30 years since Draper founded his company, which oversees assets of $ 5 billion, he’s reinvented himself as a crypto entrepreneur willing to put his money where his mouth is. An entrant in Forbes’ recent Crypto Rich List, Draper made much of his crypto wealth through having the perspicacity to snap up the Silk Road bitcoins auctioned by U.S. Marshals in 2014. He was fortunate, of course, to have the capital and the accreditation required to acquire those 32,000 bitcoins, which now look like a snip at $ 18 million.

Tim Draper on Bitcoin: “Why Would I Sell the Future for the Past?”For all the success that foray brought him, Draper’s immersement in all things crypto hasn’t been without its controversies. A high profile backer of Tezos, he’s been forced on the defensive as delays have dragged on and the lawsuits have piled up. One of the biggest bones of contention with the Tezos affair is the extent to which bitcoin has since grown in value. This has benefited Tezos but has done nothing for the investors who parted with their BTC last year on the promise of XTZ tokens.

When questioned about bitcoin’s volatility on Bloomberg, Draper brushed aside suggestions that this was a turn-off for “regular people”. Instead, he chose to focus on the confidence he has in bitcoin, averring: “My bitcoin is more secure than my dollars in the banks…my bitcoin is very secure”. While some entrepreneurs, most notably Steve Wozniak, have conceded that the rough and tumble of the cryptocurrency markets is not for them, Tim Draper seems to be enjoying the ride, and has no intention of selling “the future for the past”.

Do you think Tim Draper is correct to call bitcoin the currency of the future? Let us know in the comments section below.


Images courtesy of Wikipedia.


Bitcoin is a decentralized digital currency that enables near-instant, low-cost payments to anyone, anywhere in the world. Bitcoin uses peer-to-peer technology to operate with no central authority: transaction management and money issuance are carried out collectively by the network. Read all about it at wiki.Bitcoin.com.

The post Tim Draper on Bitcoin: “Why Would I Sell the Future for the Past?” appeared first on Bitcoin News.

Bitcoin News

TMZ

Floyd Mayweather on MMA Future, ‘I Don’t Know’

February 19, 2018 |

Moment of honesty from Floyd Mayweather? The leader of The Money Team was leaving the NBA All-Star Game in L.A. surrounded by TMT crew when we asked about Conor McGregor’s new statement … that Floyd has ended MMA fight negotiations.  Floyd…

TMZ.com