Topic: Elon Musk calls cryptocurrency 'brilliant' while predicting end of paper money.. - page 3. (Read 582 times)
February 21, 2019, 04:50:46 AM
Elon Musk is the most brilliant individual with entrepreneurship skills and made a huge empire out of his inventions. He had his opinion about bitcoin and in fact it is true to say that it is easy to make bitcoin transaction globally without any hassle than paper currency and since he is an entrepreneur he knows better but that does not mean that paper money will fade away in the future, we need both forms of transaction, bitcoin for trade and commerce and international trade and obviously if local merchants accept bitcoin it is well and good if not we need local currency.
February 21, 2019, 03:23:42 AM
This is really an amazing utterance, given the fact that Elon Musk himself doesn't own bitcoin, but only a small part that someone gave him. And this is his first public statement regarding cryptocurrency says to us that more and more serious people are optimistic about the future of bitcoin.
February 21, 2019, 03:10:23 AM
paper money will go away sooner or latter, crypto will stay, to be specific, BTC and some govt. abcked crypto will stay.
February 21, 2019, 01:44:32 AM
Great to see Elon Musk acknowledge the bitcoin. I don't know why some billionaires hate bitcoin, and some like it, I thought all tech savvy will like bitcoin, but Bill Gates are some of them who decided to hate it. But I think people will change their perception about Bitcoin overtime, they might hate it sometime ago and changed their mind later.
Well you just have to understand where they're coming from. Bill Gates loves technology, but I think he find something in bitcoin that might affect his business that's why he doesn't appreciate it.
Of course there's the possibility that most haters will make a U-turn in the future, specially if they really understand that bitcoin doesn't affect the financial world negatively and it won't disrupt some old traditional system.
February 21, 2019, 12:58:21 AM
This is a huge compliment, coming from the co-founder of PayPal. Elon Musk is not unfamiliar with alternative payment systems and the Banking industry < he also founded X.com, an online bank >, so his opinion comes with a lot of weight and experience. 
Musk has a good eye for emerging technologies and also technologies that might have potential for disruption of traditional systems and technology. 
Musk has a good eye for emerging technologies and also technologies that might have potential for disruption of traditional systems and technology.
February 20, 2019, 10:32:20 PM
anybody with half a brain has always understood the brilliance of bitcoin and saw the long term potential of it by simply looking past the price and drama that always surrounds bitcoin.
"good" stuff like this is always around even during the downtrends but they can never change the trends. right now we are trying to break a resistance and it won't be changed with news. it will take time and multiple tries before the breakout happens.
Pretty exciting, hopefully some good press can help keep this week's run going!
"good" stuff like this is always around even during the downtrends but they can never change the trends. right now we are trying to break a resistance and it won't be changed with news. it will take time and multiple tries before the breakout happens.
February 20, 2019, 10:26:33 PM
He's a tech guy. Always enjoyed reading and understanding about all subjects. He made a fortune with a company that revolutionized the way you pay for goods and products on the internet.
I find it odd that it takes time to understand what Bitcoin really is. He has never been contrary, but also has not yet become a lover. I believe that the moment he stops and studies about, he will be amazed and will certainly try to somehow create a new company related to it.
I find it odd that it takes time to understand what Bitcoin really is. He has never been contrary, but also has not yet become a lover. I believe that the moment he stops and studies about, he will be amazed and will certainly try to somehow create a new company related to it.
February 20, 2019, 08:35:57 PM
Well it's true that for payment transfer system crypto is better than fiat, in transaction we need a fast, effective and efficient system, and crypto could provide all of that, and now the society is preparing toward a cashless transaction, so it's not wrong that Elon Musk predicted that we are toward a cashless transaction system and he choose crypto
February 20, 2019, 02:26:29 PM
Great to see Elon Musk acknowledge the bitcoin. I don't know why some billionaires hate bitcoin, and some like it, I thought all tech savvy will like bitcoin, but Bill Gates are some of them who decided to hate it. But I think people will change their perception about Bitcoin overtime, they might hate it sometime ago and changed their mind later.
February 20, 2019, 12:59:22 PM
Quote
"Paper money is going away and cryptocurrency is a far better way to transfer value than pieces of paper" but as far as his companies getting involved "I don’t think it would be a good use of Tesla’s resources"...
continued @ https://GlobalCryptoPress.com
Pretty exciting, hopefully some good press can help keep this week's run going!
paper money might still survive if the world collapses due to cryptocurrencies.
i also read that article bitcoin cultists tried to put words into elons mouth saying that elon said "bitcoin is the future" so disgusting.
regards
February 20, 2019, 12:53:00 PM
Wow! the co-founder of Paypal, Even though PayPal is in favour with Bitcoin there is still a significant issue between buying bitcoins with Paypal But anyway I am just thinking about something in my past experience using PayPal, But then again Elon Musk is the guy of the year and 21st Forbes list of The World's Most Powerful People, Well no wonder I really think he is thinking that way because he is a futurist and love to think of ways he may do in the future and seeing bitcoin to replace paper money was indeed, in my opinion, was he is thinking.
February 20, 2019, 12:48:49 PM
I think the system will naturally select by itself the way it wants to create value and exchange it too. Surely, digitalization of the system is naturally taking place not because an individual is propelling it but because the need is arising in the society. This is how I think the whole financial value system will happen not an individual creating it.
February 20, 2019, 12:48:20 PM
Quote
"Paper money is going away and cryptocurrency is a far better way to transfer value than pieces of paper" but as far as his companies getting involved "I don’t think it would be a good use of Tesla’s resources"...
continued @ https://GlobalCryptoPress.com
Pretty exciting, hopefully some good press can help keep this week's run going!
Revolution is a must and it's also necessary considering the cost required for fiat currency to maintain and keep it accountable.
Blockchain and related technologies are making new bridges to enhance business productivity globally in coming future, definitely.
Elon Musk has already founded Open AI. AI, along with Blockchain and Machine Learning can bring major changes in whole businesses worldwide. It will also bring more transparency, speed, and security.
Bitcoin is a great example but has many drawbacks which have already filled by other cryptocurrencies and giving a more decentralized platform oriented solution which can be implemented in day to day businesses to offer more speed, and security along with transparency.
February 20, 2019, 12:32:41 PM
Honestly, all of this is a bit exaggerated. Bitcoin isn't meant to be influenced by any known person or organization(except WikiLeaks, IMO). When some influencer is against Bitcoin/cryptocurrencies then the community will just be spiting out their arguments to defends cryptocurrency. In the other hand, when some phenomenal influencer stated good things, the community praise it like a god.
One of the significant reason why conventional currency won't scale and will collapse is it's based on the trust system. And that is why Bitcoin exists, to seeks the solution for the root problem of conventional currencies.
Elon is still a business man, I don't see him helping people out of poverty. I am one of those people that believe we should conquer all the problems on earth before we even attempt to travel to mars.
Actually, Musk himself stated that he is an engineer.OP you could include full link of article
Paper money has to exist and be in circulation and it has a lot of reason. Maybe this argument look for you crqzy but imagine one day banks/government just froze everyone's account?
Or just listen to the full podcast: https://ark-invest.com/research/podcastPaper money has to exist and be in circulation and it has a lot of reason. Maybe this argument look for you crqzy but imagine one day banks/government just froze everyone's account?
One of the significant reason why conventional currency won't scale and will collapse is it's based on the trust system. And that is why Bitcoin exists, to seeks the solution for the root problem of conventional currencies.
February 20, 2019, 11:21:09 AM
OP you could include full link of article, btw I'll post it for those who are interested in: https://cointelegraph.com/news/elon-musk-bitcoin-has-quite-brilliant-structure-paper-money-is-going-away
Personally I don't agree with him, we don't have to fully move on digital services. Paper money has to exist and be in circulation and it has a lot of reason. Maybe this argument look for you crqzy but imagine one day banks/government just froze everyone's account? Yeah, remember holodomor in Ukraine, that didn't happen long time ago, there is possibility same situation may happen indeed.
Personally I don't agree with him, we don't have to fully move on digital services. Paper money has to exist and be in circulation and it has a lot of reason. Maybe this argument look for you crqzy but imagine one day banks/government just froze everyone's account? Yeah, remember holodomor in Ukraine, that didn't happen long time ago, there is possibility same situation may happen indeed.
February 20, 2019, 10:53:35 AM
Elon musk is the opposite of warren buffet, he believe in high technology and he put his money there. he might have said a lot about it but where is the support or influence to engage its use in his technology territory of influence. For some project that have the support of microsoft azure etc. with a possibleuse case, I like to watch closely. I dont see paper money ending soon but might be reduced to large extend in circulation and bitcoin may not be the immediate replacement by the governments.
February 20, 2019, 10:47:32 AM
Quote
"Paper money is going away and cryptocurrency is a far better way to transfer value than pieces of paper" but as far as his companies getting involved "I don’t think it would be a good use of Tesla’s resources"...
continued @ https://GlobalCryptoPress.com
Pretty exciting, hopefully some good press can help keep this week's run going!
Pretty cool to see somebody as intellogent & super successful as Elon advocating bitcoin. I think one bitcoin will be worty an obscene amount in USD terms in a few years but we must be patient.
February 20, 2019, 10:47:24 AM
Elon Musk is already one of the people who thinks about the good for our world and we all know what he does
Because he actually understands technology and not like wallstreet old people that just babbling asked for opinion and they have no idea what they talking about.Reality
Elon is still a business man, I don't see him helping people out of poverty. I am one of those people that believe we should conquer all the problems on earth before we even attempt to travel to mars.
He also gets way too much credit. Engineers that are behind the scenes are doing most of the work while Elon is just the public figure.
February 20, 2019, 10:28:50 AM
Quote
"Paper money is going away and cryptocurrency is a far better way to transfer value than pieces of paper" but as far as his companies getting involved "I don’t think it would be a good use of Tesla’s resources"...
continued @ https://GlobalCryptoPress.com
Pretty exciting, hopefully some good press can help keep this week's run going!
This is not the first time Elon musk showed his support towards bitcoin and more importantly towards cryptos. He earlier bashed Mr. Buffet for his negative comments about cryptos. So it is not a surprise that he spoke again in favor or cryptos.
He is a visionary a lot of his upcoming projects are based on the future of our human society. Be it spacex or EAV or driverless cars or augmenting brain power through AI- all of his projects are not very similar to what corporates are doing now! So I personally would not take his statements for granted, rather I would bank on it!
I'll second that, Musk is for sure a visionary, he understands the
threats facing the world in future, he can also see where society
generally is heading.
Im sure there are plenty of other high profile people who think
the same but Musk is vocal about it.
I agree with him that paper money is on the way out, hopefully
he is right about crypto.
February 20, 2019, 10:21:04 AM
Elon Musk is already one of the people who thinks about the good for our world and we all know what he does
Because he actually understands technology and not like wallstreet old people that just babbling asked for opinion and they have no idea what they talking about.Reality
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