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Q&A with Adam Draper

Founder & Managing Director at Boost VC

1. What/who/how brought you to the crypto sphere aside the profitability?

When I got in, there wasn’t profitability, there was a market price of $10, making the market cap of the entire ecosystem $100m. I actually didn’t buy at that point. Brian Armstrong, the CEO of Coinbase explained Bitcoin to me for the first time while pitching me. People don’t give him enough credit for educating the investor market on what Bitcoin was. So Brian is who brought me in (I might be the only person in crypto who invested in a Bitcoin company before buying any Bitcoin). What got me to stay was the ecosystem. When you get into the space, you meet people, and they are all the most dynamic people. They are polarizing one way or another, which draws you in and gets you to feel excitement. I have been impressed by every person I have met in Crypto. They are all trying to change the world.

2. What is Boost VC?

We were the original Bitcoin Fund. Boost VC is a Pre-Seed Accelerator Fund where we invest in founders trying to make Science Fiction a Reality. We are the #1 accelerator for Crypto and the #1 accelerator for Virtual Reality related startups.

Over the last 5 years we have have now run 10 accelerator programs, invested in 220+ startups and our companies have raised more than $1B after the program (through ICO in addition to the traditional way).

3. What are the most known crypto related investments Boost VC was/is involved with?

Our alumni are some amazing leaders in the space: Etherscan, Aragon, BlockCypher, Ripio, Wyre, Keep, CoinUT.

4. What sets a project aside that makes you say, “I am investing in this project”?

Startups and projects are the same: it’s all about the team and determination. Also, I’ve realized that the companies I often back, the founding team often evokes a curiosity and teaches me something new during the meeting.

5. What you make of current lack of scalability issues on BTC and ETH?

The internet wasn’t born perfect, and still isn’t. Champagne problems that can and will be fixed. It shows that there is significant need for the protocols, which is really exciting.

6. What crypto you currently hold for long term? Why?

Boost VC backs founders who we hope change the world, and what we have learned with Crypto is that they often do! We are supportive of a lot of Tokens! My way of thinking of this has changed. I used to be a Bitcoin Maximalist, but I believe there will be more. It creates competitions and decisions.

7. Tezos, will it conquer its Foundation demons? Will it be a contender to ETH?

All startups make mistakes, it’s about taking the hits and building forward that makes you a winner. I think we are just seeing early founder mistakes on a new scale. And by the way, I think mistakes are great, how else are you going to learn. To this point, right now is when we find out if the Tezos team is stronger for going through the situation with their foundation.

8. What you make of current crypto market situation and what you foresee end of 2018 will look like?

The only thing the market should be focused on this year is providing real value. If you are a white paper with not product… build it. If you released your MVP… make it better… Grow your community and listen to the customer. This year is blocking and tackling.

9. Bitcoin or BCash, why?

Honestly, I think that most people should be for both of them, I think we will look back at this time and say “How did we ever think they were competitive.” My answer would be Bitcoin, but not in a way that I think that Bitcoin Cash has no value. Everyone keeps thinking that it’s us vs. them, or that someone has “won” yet. We haven’t won until there are 7 Billion people on the globe transacting value P2P.

Bitcoin cash: 
- Lacks devs
- Lacks decentralization of mining
- This is an attempt at on-chain scaling and we will see if it works
- 6 months old

Bitcoin:
- The original.
- I trust the Bitcoin Core devs and the predictable BTC development roadmap.
- I’m emotionally tethered to it for better or worse :).

10. #1 Recommendation to crypto-entrepreneurs?

Build Value, stop staring at the price.

Adam Draper is Managing Director at Boost VC

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