Billionaire and venture capitalist, Tim Draper, has made a very interesting prediction with regards to Bitcoin (BTC) and its future. In an interview with Fox Business he predicts that only criminals will be using fiat in 5 years time.
One reason for this is that, Bitcoin (BTC) can be tracked. Therefore a criminal who has stolen or received Bitcoin (BTC) can also be tracked, all the way to its original source. He is right on this point;
“The criminals will still want to operate with cash because they catch everybody who is trying to use Bitcoin.”Billionaire, Tim Draper, Fox Business Interview
He also mentioned that holding Bitcoin (BTC) is much secure then cash in the bank. This is based on the fact that the decentralised asset has never been hacked under its blockchain technology;
“My bank is constantly under a hack attack,”Billionaire, Tim Draper, Fox Business Interview
However, privacy coins do exit such as ZCash (ZEC), Monero (XMR) and Dash (DASH). This may be the ultimate go to for criminals, as transactions on these blockchains are private!