Central to Draper’s worldview is the notion that bitcoin is simply better technology than any government-issued currency. Roughly 20% of the global adult population is unbanked, according to the World Bank; Bitcoin enables such people to make online payments, and manage their savings. It’s also incredibly efficient in terms of sending money abroad. A wire transfer will usually take three to five business days (if not more) to arrive, whereas a Bitcoin transaction will generally be sorted within 10 minutes to an hour (or a couple of seconds if you’re…
The Node: Tim Draper on Bitcoin’s Gravitational Pull
