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Reality Of Bitcoin Is Bigger Than Internet

During a debate on cryptocurrencies organized by Intelligence Squared U.S. in the partnership with Manhattan Institute’s Adam Smith Society on Saturday, April 21, 2018, the famous U.S. investor Tim C. Draper said that bitcoin is the bigger project than the Internet, Skype, Tesla, and Hotmail. He claimed that bitcoin will hit USD 250,000 in next four years. He further said in the debate that bitcoin and other cryptocurrencies have no comparison with the projects in past:

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 Tim Draper

He forecasted that In five years from now people will laugh at you if you are going to try to buy a cup of coffee with fiat currency rather than crypto, and I believe that one day all the fiat currencies will vanish from the society and nobody will be using any sort of fiat currency anymore.

During the debate, even after the vivid arguments and vigorous approach in the favor of bitcoin from draper most of the other participants believed that bitcoin is only attractive to criminals only and its a bubble that will blow after a certain time and the whole huge economy built upon this will collapse. Many people believed that decentralized system cannot sustain or prevail in the current economy. The debate ended with 68% votes against the sustainability of bitcoin and people think that it’s just a bubble that will not prevail.

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Muhmmad Furqan

Furqan is a financial markets expert. A regular trader of cryptocurrencies and hold some investments in Bitcoin, Stellar, IOTA and OST. Contributes with latest industry insights. Contact the editor at editor.opinions@blockpublisher.com

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