Tim Draper Joins Board of Directors of EOS-Based Decentralized Application

Michael LaVere
  • Bitcoin bull Tim Draper has joined the board of directors for DApp creator MakeSense Labs.
  • Draper is working with decentralized messaging app Sense.Chat which uses EOS's network.

American venture capitalist and bitcoin bull Tim Draper has joined the board of directors of EOS-based decentralized application (DApp) firm MakeSense Labs. 

Tim Draper Joins MakeSense Board

According to the press release , Draper will be joining the board for the development group behind Sense.Chat, which launched in August as a decentralized application on the EOS network. 

Sense.Chat Founder and CEO Crystal Rose was quoted in the press release as calling Draper an “incredible asset,” to the DApp’s growth, 

Sense.Chat is the first messaging system of its kind utilizing blockchain technology for privacy and security. It has the potential for ushering in mass consumer adoption in crypto. As an early supporter of our mission and respected visionary in the space, Draper is an incredible asset for our team’s success.

Draper is the founder of venture capital firm Draper Associates, which has made investments in companies such as Skype, Tesla and Twitch. While he’s known more for his vocal support for bitcoin and sometimes outlandish price predictions, the American investor said he was excited to support a decentralized application like Sense.Chat, 

The world is becoming decentralized. I am excited to support this amazing application. Sense.Chat improves human connections by allowing private, seamless messaging and payments.

Draper is one of the Wealthiest People in Crypto according to Forbes, and has made Worth Magazine's 100 Most Powerful People in Finance. 

 

Featured Image Credit: Photo via Pixabay.com

Bitcoin Whale Reportedly Risks 800 BTC for $0.01 Payout in Dogecoin

A bitcoin whale has supposedly risked a total of 800 BTC, worth around $5.8 million, to help the cryptocurrency remain at the $7,200 mark in a bid to win a bet he made on social media.

A Twitter exchange between Dogecoin supporter Samu and bitcoin whale Joe007 shows that both agreed to bet on bitcoin’s future price, with Samu agreeing to pay 5 million DOGE (around $11,000) to the whale if BTC traded above $7,100, and the whale agreeing to pay Samu the same amount if it was below $7,100 at 13:00 UTC on December 12.

The BTC whale ended up winning the bet as the price of the flagship cryptocurrency didn’t drop below the agreed-upon mark. Some of those watching the thread, however, noted that something seemed to be going on before the bet’s deadline expired.

The bet was made according to the price of the Bitfinex cryptocurrency exchange, and a trader soon alleged on social media the BTC whale could’ve placed an 800 bitcoin order to “defend” the $7,200 so the cryptocurrency’s price wouldn’t dip.

While it isn’t possible to tell whether Joe007 was the one behind the 800 BTC order, the whale seemed to warn Samu before the bet was made that he was extremely confident he was going to win, tweeting out “you really don’t want to make this bet, believe me…”

After the deadline the posts suggesting market manipulation came out so Samu said he “got revenge” on the bitcoin whale cheating, by offering to pay him only 6 DOGE, currently worth about $0.013.

The Dogecoin addresses Joe007 showed as the destination for the funds currently has little over 10,000 DOGE in it, worth close to $22. Some argued Samu should have paid the funds as no terms were defined in the bet, while others agreed with him.

Featured image via Unsplash.