There are various crypto-related predictions these days, and some of them seem a bit far-fetched, but you never know.
During a brand new interview with Fox Business, billionaire Bitcoin investor Tim Draper said that investors are risking their money by keeping it in banks.
When the man was asked to provide a timeline on when he expects that we’ll be able to use crypto such as BTC to buy coffee he said that in about two years we’d get to make small purchases with crypto.
Crypto to make fiat obsolete
He also highlighted that in about five years, crypto would make fiat obsolete.
“As the Lightning Network – which is the network that is now added to Bitcoin and speeds it up – as that starts permeating the system, it’s going to make it much easier for us to just use our phone and say, ‘Here, barista, do this.’ And I made a prediction that in five years we will try to go in and buy coffee with fiat money and the barista will laugh at you because they’ll say, ‘Don’t you have any crypto? This is ridiculous,” Draper said.
The interesting thing that he also said was that only criminals would want to use fiat.
He believes that everyone who will try and use Bitcoin for crime will get caught.
His conclusion was that cash would be used only by criminals in order to not get caught.
Draper also said that he feels his money in the banks is less secure compared to Bitcoin.
The Daily Hodl reports that Draper has a lot of BTC and back in June 2014, he bought his first batch of about 30k BTC for $19 million.
Monero becomes the favorite crypto of cybercriminals
Until we get to the future predicted by Draper, at the moment, the privacy-oriented coin Monero (XMR) seems to be the bad actors’ favorite coin.
We recently reported that the Norwegian police have just released the news that Anne-Elisabeth Falkevik Hagen, the wife of one of the wealthiest Norway men has been kidnapped from her house in Oslo.
The kidnappers ask for $10 million paid in XMR.
Various statistics are showing that XMR is becoming the crypto of choice for cybercriminals.