Draper Says the World Needs New Kind of Currency

The video discusses South Korea's shift from banning to regulating cryptocurrency, Tim Draper's early Bitcoin investments, and the Mt. Gox incident. Draper emphasizes Bitcoin's potential as a global currency, its market volatility, and its role in financial inclusion. He argues Bitcoin is more secure than traditional currencies and mentions educational efforts at Draper University.

What was the South Korean government's revised approach to cryptocurrency trading?

• Making trading more transparent

• Banning all cryptocurrency activities

• Encouraging mining activities

• Introducing a new cryptocurrency

What was Tim Draper's initial experience with Bitcoin investment?

• He lost his investment in the Mount Gox incident

• He invested in Bitcoin after it became popular

• He made a profit immediately

• He never invested in Bitcoin

According to Tim Draper, why is Bitcoin needed as a global currency?

• It is free and open, not subject to government whims

• It is a physical currency

• It is controlled by governments

• It is only used in South Korea

How does Tim Draper view Bitcoin's volatility compared to other currencies?

• Bitcoin is more volatile

• Bitcoin is not volatile at all

• All currencies have the same volatility

• Other currencies are more volatile against Bitcoin

What is Tim Draper's prediction for the future of cryptocurrency in the global market?

• It will capture a large portion of the $86 trillion currency market

• It will be banned worldwide

• It will remain a niche market

• It will only be used for illegal activities

Why does Tim Draper believe Bitcoin is more secure than traditional banks?

• Banks have never been hacked

• Bitcoin has never been hacked

• Banks offer better interest rates

• Bitcoin is backed by gold

What opportunity does Bitcoin provide for the unbanked population?

• It requires a large initial investment

• It provides a way to be banked without traditional banks

• It allows them to open traditional bank accounts

• It offers loans at high interest rates