Altcoins Talks - Cryptocurrency Forum
Archive => Sorting Box => Topic started by: sulphur007 on April 08, 2020, 04:56:35 PM
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Venture capitalist Tim Draper told CNBC on Friday that bitcoinis good for humanity and that federal regulators should give it room to flourish.
Cryptocurrencies have faced increased criticism from Washington, D.C., after facebook announced that it and dozens of other companies are developing a new cryptocurrency called Libra.
However, Draper said on “sqwuak ” that he believes the larger spotlight is good for bitcoin overall.
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“It’s bringing it to light. It’s good to have people talk about it because the more they talk about it, the more they realize how important bitcoin is going to be for the planet, for all of us,” Draper said.
The veteran tech investor cited the potential for decreased transaction costs and ease of international payments as ways that cryptocurrencies would benefit humanity.
“This is one of the best things that’s ever happened to us,” Draper said.
Draper — one of the first investors in failed blood-testing start-up Theranos and a defender of its embattled founder, Elizabeth Holmes — said regulators are making a mistake by preemptively regulating cryptocurrencies.
David Marcus, the Facebook executive in charge of the company’s Libra efforts, testified in congress for two days this week and faced criticism from both sides of the aisle.
Draper said the federal government should back off and allow cryptocurrencies to grow or it risks losing the innovation to other countries.
“Facebook’s just announced Libra. They haven’t even been able to ship it yet, and the regulators are all over them,” Draper said. “Let them ship the thing. Let’s see how it happens. Let’s let things roll, and then if there’s a problem, then, great, now it’s time for regulators to step in.”
The price of bitcoin has swung considerably several times in recent weeks with the increased focus on cryptocurrencies due to the Libra proposal. The bitcoin price has been both above $13,000 and below $10,000 within the last month.
Draper is a longtime bitcoin bull,predicting last year that the price would reach $250,000 in 2022.
Crytpocurrencies have received heavy interest from mainstream companies. In addition to the Libra project, several financial firms, including Jp morgan, are working on their own crypto projects.
Despite the efforts from corporate giants, Draper still believes bitcoin will be the dominant cryptocurrency.
“All these other cryptos are bridges to where we have a bitcoin environment, and the governments are all trying to figure it out. It turns out, our government has a lot of heavy regulators and they’re all trying to get involved here,” Draper said.
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We shall see.
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Too many predictions.
What will you eat, if BTC won't reach 200k in 2022?
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It's really dificult to predict if the current market is going to focus their efforts on BTC. It's still one of the best alternatives though, with this pandemic affecting all the economy,I'm sure people will look at BTC as a way out to possibly bank restrictions, but let's see what does that mean for crypto world
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Too many predictions.
What will you eat, if BTC won't reach 200k in 2022?
This is really hard to say that Bitcoin touch $200k in 2022 because there are some critical situation happenes in every year that's impact price of Crypto market .
I think if Bitcoin touch $50K Till end of 2020 then this is really a great opportunity for Bitcoin invester .
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There are many of the community experts in the crypto industry speculated and predicted what could be the price of bitcoin in the future. Since that no one comes from the future so the better way for us to do is to wait or hold Bitcoin if we believe on its future, just simple as that.
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When I see such headlines, I immediately begin to think about what the real potential is in any asset.
Because it doesn't matter for a trader whether the price of an asset rises or falls, you just need to learn to analyze the situation and find opportunities to make money - this is the most valuable thing in trading.
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bitcoin has great potential for those who want to invest any time and anywhere not just the starters they are not knowledgeable about bitcoin is also feasible to invest because the investment bitcoin for all who want to invest potential big profits and losses are the responsibility themselves.
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I think Bitcoin potential for all investors in 2021 because some weeks ago the bitcoin halving is ended.so bitcoin demand is increasing day by day.Therefore I hope next year the bitcoin price will reach a best price.
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Where are you get this type of information? Bitcoin all time potential and very much popular and profitable to invest. I already invested from 2017 to till now. I support weekly trading.
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Their is alot of prediction about bitcoin price in future , alot of members believe that bitcoin even touch $100K or 1 millions USD in future . I think bitcoin price increase continues whenever Their is not any Bitcoin for mining .
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Too many predictions.
What will you eat, if BTC won't reach 200k in 2022?
John McAfee has also already predicted that the price of bitcoin will rise to a million dollars by the end of this year. This prediction is very memorable due to the fact that McAfee said that if this does not happen, he is ready to publicly eat his penis. In the end, McAfee said earlier this year that it was a joke to draw attention to Bitcoin. Now there are a lot of such jokers.