Draper’s vision of the world is at the center of how Bitcoin is simply better technology than any motto emitted by the government.
According to the World Bank, around 20% of the world’s adult population is not banished; Bitcoin allows these people to make payments online and manage their savings. It is also incredibly effective in terms of sending money abroad. A metal transfer will generally take three to five working days (if not more) to arrive, while Bitcoin transaction will generally be sorted within 10 minutes to an hour (or a few seconds if you use the Lightning network).
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However, Bitcoin is now a 16 -year -old technology, and there are many more elegant and more efficient blockchain projects. However, Draper says that something new in Crypto will come back to Bitcoin.
“There is this gravitational traction towards Bitcoin. All the innovation of other tokens is now transferred to Bitcoin. It is like Microsoft with Wordperfect and Lotus 123,” said Draper, referring to the way the computer company has developed its own word processor (Microsoft Word) and the calculation program (Microsoft Excel) by reproducing techniques of other companies.
“Intelligent contracts, DEFI, everything move towards Bitcoin. And Bitcoin’s market share increased from 40% in 2022 to 61% today,” Draper said. “If you are a retailer, you have set up a sign that says:” We take Bitcoin “. You are not going to say “we take Gozo’s play”, or other. »»
The superiority of technology is one of the reasons why the federal government’s previous hostility towards the crypto was so exasperating, said Draper. How can you compete if you don’t use all the innovations at the forefront of your fingers?
The United States has probably lost 10 years of value throughout Calvary, according to Draper, and although the new Trump administration is firmly pro-innovation, the country has yet to catch up. American users are still geofised by many cryptographic projects; Nor can they receive parachids or tokensize of things with the same freedom as most people around the world.
“I met the leaders of El Salvador and I became jealous,” said Draper. “Everyone on the street knows how an intelligent contract works. They build Daos. They have everything the blockchain. It’s crazy. El Salvador, which was one of the poorest places in the world, could end up being Singapore.”
Draper’s thesis, below, is that retailers (already slowly adopting bitcoin in certain parts of the world) will one day refuse to accept payments in US dollars.
“I don’t know how long it will take it to get there, maybe 10 years. But there will be a time when the dollar and other fiduciary currencies will disappear,” he said.
