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Topic: Elon Musk calls cryptocurrency 'brilliant' while predicting end of paper money.. - page 4. (Read 582 times)

legendary
Activity: 3248
Merit: 1402
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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!
Well, it's good that he recognizes innovation. However, if you listen to him actually talking, his point is not as clear: https://www.youtube.com/watch?v=fKeK68wK0UQ. He agrees that the structure is brilliant and that crypto is far better than paper money, but he also mentions that his company will not use of sell Bitcoin and that the big downside of cryptos is that they require a lot of energy. So perhaps he is still waiting for something more improved to appear in the world of cryptocurrencies or for the prices to get stable enough, because nobody in the right mind would risk a successful business by getting involved with such volatile money.
legendary
Activity: 3080
Merit: 1500
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!
member
Activity: 210
Merit: 29
It is pretty obvious that we are moving into a digitalized world and paper money would soon be obsolete, and would fade away, it already is, gradually.
Cryptocurrency would likely take the forefront in money transactions in the next two decades.
hero member
Activity: 1246
Merit: 529
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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!
Unlike CEOs of big banks this guy knows how to handle technological inventions and he easily accepts concrete facts that will reflect itself in the future. Paper money is losing its value and debts are heading up day by day with more than trillions of greenbacks. Adoption of companies will open new doors for crypto solutions to traditional business thinking,then new era of cashless society will start in blink of eye in case of non governmental forces.

Yeah and a statement like this coming from someone as prominent as musk could give bitcoin a boost for the short term. Especially now where it seems we'll be back above the 4k mark before the month ends. And obviously the guy knows what he's talking about.
sr. member
Activity: 1820
Merit: 418
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Elon Musk is already one of the people who thinks about the good for our world and we all know what he does, so you know cryptocurrency promises us better future and considering Musk always thinks the best for world, so news did not suprise me.

Musk has undoubtedly achieved a lot in his life, I don't think we were waiting for him to make that statement to consider it as a fact.
Whiles't everything takes time and just like a stock the slow it goes up creating resistances the safer and foreseeable it becomes in the long run, Practically i don't think bitcoin, ripple or any other crypto would work for the cashless future because of the power it's consuming to mine those blocks.
However, XRP is a good option but do you think the government would use a 3rd party crypto just because of the hype?

I'm 80% certain that the future is going to be cashless, but the cashless currency you use would be of government.
legendary
Activity: 1036
Merit: 1000
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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!
Unlike CEOs of big banks this guy knows how to handle technological inventions and he easily accepts concrete facts that will reflect itself in the future. Paper money is losing its value and debts are heading up day by day with more than trillions of greenbacks. Adoption of companies will open new doors for crypto solutions to traditional business thinking,then new era of cashless society will start in blink of eye in case of non governmental forces.
legendary
Activity: 3542
Merit: 1352
Cashback 15%
Aside from being a visionary on things that were thought to be improbable for our time, Elon Musk still continues to deliver good things for the human race even though he obviously wouldn't be gaining much from it, aside from few obvious profits of course. Though not pretty much an avid cryptocurrency fan, Elon Musk knows what's up and knows that digital payments on secure platforms would be the future. Though he knows the capabilities of cryptocurrencies and the blockchain, he knows full well that they don't need it yet on their ventures and is honest about it, unlike JP Morgan's CEO lol.
hero member
Activity: 1358
Merit: 509
Elon Musk is already one of the people who thinks about the good for our world and we all know what he does, so you know cryptocurrency promises us better future and considering Musk always thinks the best for world, so news did not suprise me.
jr. member
Activity: 58
Merit: 2
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!
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