Billionaire investor Tim Draper on crypto and Theranos

do you consider this week about bruising for crypto at larger or not no actually actually it's bringing it to light I think it's good to have people talk about it because the more they talk about the more they realize how important Bitcoin is gonna be for the planet for all of us that will we won't have to pay two and a half to four percent every time we swipe a credit card we're gonna have an open currency that we can move from place to place easily I think we're all going to be better off once people start to really understand what's going on this is one of the the best things that's ever happened to us it's one of the greatest opportunities we've ever had and and so Bitcoin and the decentralization of the world and the opening of the world are going to be terrific for all of us I think the world is going to be a much better place you wait 10 15 years we're going to end up with one great world and the the borders are going to be much more it'll be much more frictionless to do business around the world and we'll all better what about the argument that we're really now in a post Bitcoin environment when we're talking about crypto I mean on the one hand yes Bitcoin was the brand associated with cryptocurrency but on the other it's been kind of volatile you've got Facebook now at least putting Libre forth it seems inevitable that governments are going to put some level of regulation on cryptocurrency even as they embrace it is it time to get beyond talking so much about Bitcoin when we talk about crypto I think it's just the opposite I think all these other kryptos are bridges to where we have a Bitcoin environment and and I think the government's are all trying to figure it out it turns out that you know our our government has a lot of heavy regulators and they're all trying to get involved here and that's slowing down the u.s. we have where where other countries I mean why is Libra in Switzerland why why did all these other cryptocurrencies get started in Gibraltar or Malta or somewhere else it's because we have so many regulators and so many people getting involved before we're able to innovate I'm afraid that all this incredible innovation that's happening around Bitcoin the blockchain smart contracts open node all of these extraordinary things are happening out there and they're going to go to other countries if we don't if we don't open up and we start realizing that hey let's let some of these things happen let's let people open up and and see how things go because it otherwise we're gonna lose we're gonna lose a lot of innovation here in the US and all that all those great innovators may leave but isn't there have to be some level of regulation here I mean we've seen through Facebook Cambridge analytic and other incidents what happens when there aren't some guardrails on data on the internet in general personal data I mean what sort of personal information or data is more valuable than digital currency I know you're for openness well I think you're letting a thousand million flowers bloom but don't they have to be some gardeners here well I think what's happening now is their work we're putting regulation before the innovation Facebook's just announced Libre they haven't even been able to ship it yet and the regulators are all over them I mean let them ship the thing let's see how it happens let's let things rap let's let things roll and then if there's a problem then great now it's time for regulators to step in yeah if there's if there's something that's hurting humanity actually I think the things that are hurting humanity are all the regulations that are keeping us from all these amazing innovation so when the Treasury secretary and I think he was referring specifically to Libra said it's based on thin air I mean have you have you addressed your concerns with the administration at least on their level of doubt well the dollars based on paper and the promise of a government you know we we have long since left the the the economy that uses shells or gold or even the promise of gold we're way past that currencies are ethereal and and the values of currencies have to do when with people honoring them trusting them and that Trust is there for Bitcoin and the trust will probably be there for Libra if the government let's let's it happen and I think I think we'll all be better off we won't have to pay the banks two and a half to four percent every time we swipe a credit card we'll be able to move our money across borders and like if the if you're in in Libya and and the military comes in and shoves you out of Libya you've got a bunch of libya libyan currency you're not going to be able to use that in greece so you're stuck in your refugee if you had Bitcoin you'd be able to move across that border pull down your Bitcoin and start your life again I think this is a major opportunity the world has has never seen anything like it I think the geographic borders are falling and I think that makes a lot of government officials become a little nervous because they've they built their power on the fact that we're all tribal but we're global now the world is opening up and and governments have to compete for us governments have to have to think how how can I provide good service to my community to my society how do i how do I make my community more happier they're gonna have to think more the way businesses think businesses think how do I provide a better service for my customer I think government's are gonna have to start doing that or there they will lose the innovator that they'll lose all that the progress humanity has in the future certainly yeah those are the arguments we're getting from a lot of supporters of the concept of large finally Tim I don't want to have you on and ask about thier notes every single time but viewers are legitimately curious about whether your views of fairness or homes have evolved since we last spoke to you oh I think it's pretty much it's pretty much the same I we're we're very happy continuing at Draper associates we're continuing to innovate to fund new entrepreneurs good entrepreneurs that come to us and say hey I'm gonna transform healthcare as we know it I'm gonna take people to Mars I'm gonna I'm going to do extraordinary things I like backing those people I will continue to back those people and you still include and I think actually and I think that that that Thera knows actually did open up a great industry they are not going to benefit from it but but we've seen 15 other startups that are all using similar technologies so yeah our blood tests are going to be much easier and and we're going to be able to keep track of our blood tests over time so we're going to know whether our our what's happened to our blood over time blood glucose level vitamin D levels whatever happens and we'll we'll be more aware of our health and I think date is going to be a much bigger part of healthcare I think we're gonna be in a situation we got a company called cloud medics that actually outperformed the average doctor on the test the doctor test they they ended up scoring an 85 whereas the average doctor scores a 75 on the test that diagnosis people based on the complaints they have there's all that data all that data is going to be incredibly powerful as a diagnostic tool and it won't just be your your medical records it'll be your genetic history and your blood test results and your Fitbit results and what you had for breakfast and what seat you sat on on the airplane all that information is going to be available and so we're gonna have much better diagnostic tools than any doctor could possibly provide by asking a thousand questions this is going to be really interesting and healthcare as we know it is going through a rapid change this is really exciting and I think I think the transformation of healthcare and the transformation of our society through the decentralization are two of the major themes that we're going to be using at Draper associates going forward you

37 thoughts on “Billionaire investor Tim Draper on crypto and Theranos”

  1. Bitcoin is great from a major bitcoin investor/miner lmao. Bitcoin doesnt work for currency due to the volatility, and whoever gets into it is a speculator not an investor. Next recession bitcoin and all cryptos will take a dump that could very well be the end of all cryptos…

  2. That is funny. Complaining about paying 2%. Just another scam by the use of hackers just like the millions stolen from Asia. Very funny. Can you say sucker?

  3. Stack them satoshis. Buy Bitcoin now. Hell, buy $2 a week if you can. I truly see the day that 1 satoshi will equal $0.01 USD. Today, $1 USD purchase of Bitcoin gets you 9800 satoshis. You do the math.

  4. "Governments have to think, how can I provide good service to my community." That statement reveals a very naive understanding of the world. In a world of rainbows and unicorns, yes. But in our reality, no.

  5. A currency that is unregulated and wide open to manipulation? sign me up please. Who doesn’t like a TIA inducing rollercoaster price fluctuations.

  6. This is so funny. Seems they only know about Bitcoin too. You can hear that he has never actually used. BTC

  7. LOL!!! He is shorting it to hell!! Hahahah suckers are buying to!! You can hear in his voice that he can almost not hold his laughter back trying to keep a straight face when his friends are probably behind the camera on the floor rolling ???

  8. If u understand the halvening and are smart enough to own Bitcoin now, or to buy it now…your reward is right around the corner. When the block reward turns to 6, and with further adoption, does anyone believe that 1000 bitcoin won’t be bought or HODL’d by miners per day worldwide?? Well actually less then that will be produced. Add large institutional buys, and what new exchanges need for liquidity… What does that mean for the price?? ??

  9. trump and his underlings don't care about American innovation, they are in it for themselves and their money's in the old USD.

  10. Just remember, when the "libra" debate was going down and all the old liver-spotted suits where touting "Bitcoin is used for criminal activity", JPMorgan gets busted with a shipment of billions in cocain. No cryptos where used. Ya can't make this insanity up.

  11. This guy said nothing of any moral substance. He IS FOLLOWING THE (dead) DREAM OF SOMETHING FOR NOTHING.

    He supports the company Theranos. Need I say more? Theranos is a lie.

    “One great world” – ie – one world government
    “Borders are going to be frictionless” – ie – one world government
    “An open currency that we can move” – ie – one world currency (notice the lack of plural usage in his language)
    “Bridges to where we have a bitcoin environment” – ie – one world currency (again, notice the use of singular)

  12. US is dragging its feet because it has it all to lose in terms of its reserve currency. Blockchain in some form IS going to happen so they need to wake up, get involved and not get left behind

  13. slow… doesn't scale… stupid to add more layers of technology onto buying everything, to be saved for a lifetime. really, this is ludicrous and in hindsight – "ethereal" is going to mean, you won't have a damn thing. vapor-money – Ho boy! nobody has ANY sense of reality. Pray to the alter of the smartphone. Put your whole life and future on your phone, or a SSD… stupid. It's not even high tech. complete and total scam.

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