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Bitcoin Will End the Reign of ‘Dictators and Toll Trolls,’ Says Tim Draper


Bitcoin Will End the Reign of ‘Dictators and Toll Trolls,’ Says Tim Draper

Thanks to Bitcoin, the world is no longer “at the mercy of dictators and toll trolls,” says Tim Draper

Billionaire investor Tim Draper has stated that he expects Bitcoin (BTC) — combined with other technologies — to change how governments operate worldwide.

In a Medium post published on Oct. 10, Draper calls Bitcoin “the startup currency” and praises its decentralization and borderless nature, saying he believes that BTC will bring the world together:

“With Bitcoin, and the decentralization that comes with Bitcoin, geographic borders have become less relevant. No longer are we at the mercy of dictators and toll trolls to grow the world economy. […] In the long-term I believe with regard to business and economics, we are, more than ever, one world.”

Bitcoin will end tribalism

Draper also accuses those dismissing Bitcoin of clutching to tribalism, and reiterates the belief that “tribalism is dying.” He also compares the attempts to retain power to the roar of a falling king:

“Tribalism is dying. And like the dying roar of the king of the jungle, we are hearing political leaders beat their chests as they try to cling to the power they once wielded when the world was still only tribal.”

Draper also describes the idea of a global health insurance policy — that is more effective and efficient than current offerings — “where the premiums are in bitcoin and the claims are settled to the letter with smart contracts and monitored by artificial intelligence.”

He also explains his vision of a pension that does not depend on the decision of political leaders, but instead “is simply a form of fixed smart contract.” Draper concludes:

“Bitcoin brought with it a few fundamental technologies that can accelerate our transformation from a tribal planet to a global one.”

As Cointelegraph reported on Sept. 30, billionaire technology investor Mark Cuban, on the other hand, said that he would be happier owning bananas rather than Bitcoin.

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