A one-time purchase of 30000 bitcoin is a kind of experience?
Author Adam Draper is a Vc firm in San Mateo Boost VC is the founder and managing director of Boost VC, as one of the bitcoin blockchain incubator and the earliest and most active, which has so far invested more than 50 bitcoin startups.
In this article, Draper recalls that on November 5, 2015, his father Tim Draper from the first bitcoin U.S. government auction took nearly 30000 bitcoins.
“So, should I do this?”
It was in November 5, 2015, I was driving to work. When I go to Eyre Mino street, I got my father’s phone number.
“I am going to press the button, and then send me the quotation,” he said.
This week will be the most interesting in the history of a week. Justin Trudeau (Justin Trudeau) was sworn in as Prime Minister of Canada, Chris Matthews Stapleton (Chris Stapleton) in CMAs (American country music Awards) has become a big winner, happened at the same time this week, and the U.S. marshals 30000 bitcoin auction.
* * *
About bitcoin, its reputation is not very good.
The general public only heard of bitcoin exchange stolen money, or everyone in bitcoin to buy illegal drugs. In fact, the reason why U.S. marshals have bitcoin, because the dark network market of Silk Road Station Ross Ulbricht (also known as “terrorist pirate Roberts”) was arrested.
Only a short while ago, the silk road is to buy drugs, guns and thugs in eBay, and the anonymous market, using the currency is bitcoin traders.
I remember in the beginning of 2015, my father and I (Tim Draper) and grandfather (Bill Draper), in front of hundreds of people had a group discussion, this is our first time for group discussion, we all talked about his life as a venture capitalist.
When it was my turn to speak, I only say what is bitcoin, when I began to explain why, my grandfather then saying (jokingly):
“Well, Adam, don’t become the first member of the Draper family in prison.”
Even my grandfather, who I know most people have prophetic vision, he bitcoin world view also holds an oblique angle.
* * *
Bitcoin auction of U.S. marshals, the public’s attitude towards bitcoin, may bring significant change.
It proved that the U.S. government acknowledges the validity of bitcoin, and use it to generate their own income.
If bitcoin is used for illegal application, then the United States Marshals will not touch it, not a government agency to confiscated cocaine publicly sold to the highest bidder.
“So, should I do this? I want to press the button.”
I took a deep breath, and then replied:
“If I had the money, I will do so. This technology is changing the world.”
He replied: “good”, and then hang up the phone.
* * *
Looking back on it, I should have hesitated.
I did not know that he offered millions of dollars to buy all of the bitcoin auction. I think he is part of the bid……
The next day, when I walked into my office, my co-founder Brayton Williams and I said:
“Have you heard? All the coins are one shot away.”
I thought: “dad… What have you done?!”
I quickly went upstairs (me and my dad in San Mateo, work in the same building), the Vaurum team in the room, Avish Bhama, Sean Lavine and my dad my brother was there. I sat on the sofa, watching my father’s desk, and open the window, and he is on the phone.
“Hey, do you have time! We are to take the bitcoin transfer to my wallet!” He said, my dad was more intense than usual.
I remember when I looked around, suddenly felt a strange feeling. At that time, I in the digital currency in the world have been working for 18 months, I know at this point, when the bitcoin was written into the annals of history, this time will be included among them, and people talked about, or even cause potential discussion.
Some of what happened next, is very funny…
* * *
So, my dad and the U.S. marshals Department on the phone, they were going to get this huge amount of new money through the Internet is sent to my dad’s wallet. But because it involves millions of dollars, they have a word for word to confirm and reconfirm the wallet.
“Little Z, 7, 4, 5 X capital… “
“And so on… Lowercase C? Or Z?”
“Well, continue to.”
They repeated this process 4 times, before deciding that the address is correct.
“Good,” my dad said, you can hear the other end of the telephone voice, “well, has been sent.”
Then what did not happen. Everyone knows this, they said, “we need to wait about 10 minutes to see a confirmation in the block chain…” 10 minutes later… Still what has happened.
30000 bitcoin go somewhere, but it seems that it does not send to where it should go.
Twenty minutes later, still what did not happen.
Everyone gets nervous.
Thirty minutes later, or what is not.
When I left the room, everyone began to worry about.
Of course, this is a historic moment, but also so, on the next meeting, I was half an hour late.
* * *
After an hour of waiting, the deal finally had a confirmed. An hour! (in fact, the United States Marshals and not for the deal with the transaction fee payment miners, the priority was lower than that of other transactions).
But the deal does happen, my father and the U.S. marshals successfully completed the bitcoin transactions.
The headlines wrote: “venture capitalist Steve Draper won the bitcoin auction,” this is the first article I read to my father called the “Steve” article, hilarious.
Tim Draper won the Silk Road bitcoin auction “, this is the common title.
Now, remember some of the things that happen. The United States government successfully sold 30000 bitcoin. Not only that, a professional investor to win all bidders bitcoin, professional investors is not an arbitrary, but a three generation venture family, has successfully invested Skype, Baidu and Hotmail’s most successful VC.
This is the day of the Wall Street journal headline news, Forbes, New York Times are reported.
Bitcoin community needs a catalyst to change public opinion on it, I believe my father created it.