Topic: Elon Musk finally weighs in on Bitcoin in a longer than usual commentary - page 2. (Read 288 times)
January 25, 2020, 02:50:07 AM
Being one of the best businessman is great, it could possibly induce influence to allot of people and Elon Musk surely does have this influence over a wide of people. And the reason why I think you became disappointed is right in your statement. becoming someone to fund paypal and to basically be incorporated to financial businesses imposes risk when other asset could affect it. In this case, since paypal isn't utilizing bitcoin and cryptocurrency, there are some point that Elon Musk might saw bitcoin as a threat to their asset rather than a technology to be implemented worldwide.
January 25, 2020, 01:05:59 AM
So Elon Musk finally went a little deeper on Bitcoin and cryptocurrency, sharing his thoughts in a recent interview with the Third Row Tesla Podcast - Elon's Story - Part 1.
I mean in the past he did call Bitcoin "quite brilliant", while criticizing it for being "energy intensive", and even joking about pervasive crypto scams that were originated in his name. So in the course of this interview Elon compared money to an information system for label allocation (1hr:22min into the video) and while at it bagged on the banks as heterogeneous low security high latency databases.
To save you a lot of time, the Bitcoin bit comes at 1hr:33min into the video when one of the interviewers asks "You love code but you dont seem to be bullish about Bitcoin", so the Great One waffle a little first saying he is neither here no there on Bitcoin, calls it "pretty clever" but then takes us down a familiar road with the "there are these transactions that are not within the balance of the law" and reducing Bitcoin to a "legal to illegal" bridge. Gets a little better when he talks about crypto being replacement for cash, but not a primary database...
As a Tesla owner and Tesla/SpaceX/TeslaEnergy fanatic, and a bit of an Elon Muskfanboy, I was a little disappointed...
What do you think about this folks? Great visionary guy missing the point? I mean he is clearly up the speed on finance and tech, having co-founded PayPal etc..
I mean in the past he did call Bitcoin "quite brilliant", while criticizing it for being "energy intensive", and even joking about pervasive crypto scams that were originated in his name. So in the course of this interview Elon compared money to an information system for label allocation (1hr:22min into the video) and while at it bagged on the banks as heterogeneous low security high latency databases.
To save you a lot of time, the Bitcoin bit comes at 1hr:33min into the video when one of the interviewers asks "You love code but you dont seem to be bullish about Bitcoin", so the Great One waffle a little first saying he is neither here no there on Bitcoin, calls it "pretty clever" but then takes us down a familiar road with the "there are these transactions that are not within the balance of the law" and reducing Bitcoin to a "legal to illegal" bridge. Gets a little better when he talks about crypto being replacement for cash, but not a primary database...
As a Tesla owner and Tesla/SpaceX/TeslaEnergy fanatic, and a bit of an Elon Musk
What do you think about this folks? Great visionary guy missing the point? I mean he is clearly up the speed on finance and tech, having co-founded PayPal etc..
Elon Musk doesn’t care for bitcoins and he only keeps on making these statements, because he keeps getting free publicity from the crypto community and the media. I personally feel we should stop paying attention to his statements, because he’s not helping in adoption of bitcoins. It’s pertinent to note that if he really wishes to help then he should accept bitcoins for tesla cars as that’ll push people to buy bitcoins.
January 25, 2020, 12:26:55 AM
I wouldn't classify myself as a Elon Musk fanboy. I personally own a tesla car, and a tesla powerbank (actually pretty useful), but I don't follow Elon Musk and his interviews/videos/articles that often.
I've seen his previous thoughts on Bitcoin, and while we share some of the similar ideas (which is kinda cool), there are some disagreements that I have with him. I don't understand why he believes it's energy-intensive. When comparing the miner electricity fees compared to a lot of other businesses, it's minuscule. Banks spend a lot more electricity maintaining their systems, and bitcoin mining has seen a slow transition to more renewable energy sources.
I've seen his previous thoughts on Bitcoin, and while we share some of the similar ideas (which is kinda cool), there are some disagreements that I have with him. I don't understand why he believes it's energy-intensive. When comparing the miner electricity fees compared to a lot of other businesses, it's minuscule. Banks spend a lot more electricity maintaining their systems, and bitcoin mining has seen a slow transition to more renewable energy sources.
January 24, 2020, 11:43:39 PM
Co-founded paypal so he like centralized financial system that is regulated and manipulated by private entities. He loves when people pays heavy fees on each transaction and people keep billions of dollar in their online payment account without getting any interest on it, those numbers are in billions. Imagine how much it will be in interest from billion dollar even when interest rate is low.
He might not make hate statement against bitcoin but for sure he dont like to support it because he havent thought of getting back to finance space anytime soon.
He might not make hate statement against bitcoin but for sure he dont like to support it because he havent thought of getting back to finance space anytime soon.
January 24, 2020, 11:32:51 PM
I love Elon Musk and his innovative technology and keeps on with his research and development but funny enough, he has the right to express himself on any matter including bitcoin but his opinion does not really define the true state of bitcoin. Bitcoin as a technology is still evolving and will continue to attract criticism and praise.
January 24, 2020, 08:06:02 PM
So Elon Musk finally went a little deeper on Bitcoin and cryptocurrency, sharing his thoughts in a recent interview with the Third Row Tesla Podcast - Elon's Story - Part 1.
I mean in the past he did call Bitcoin "quite brilliant", while criticizing it for being "energy intensive", and even joking about pervasive crypto scams that were originated in his name. So in the course of this interview Elon compared money to an information system for label allocation (1hr:22min into the video) and while at it bagged on the banks as heterogeneous low security high latency databases.
To save you a lot of time, the Bitcoin bit comes at 1hr:33min into the video when one of the interviewers asks "You love code but you dont seem to be bullish about Bitcoin", so the Great One waffle a little first saying he is neither here no there on Bitcoin, calls it "pretty clever" but then takes us down a familiar road with the "there are these transactions that are not within the balance of the law" and reducing Bitcoin to a "legal to illegal" bridge. Gets a little better when he talks about crypto being replacement for cash, but not a primary database...
As a Tesla owner and Tesla/SpaceX/TeslaEnergy fanatic, and a bit of an Elon Muskfanboy, I was a little disappointed...
What do you think about this folks? Great visionary guy missing the point? I mean he is clearly up the speed on finance and tech, having co-founded PayPal etc..
I mean in the past he did call Bitcoin "quite brilliant", while criticizing it for being "energy intensive", and even joking about pervasive crypto scams that were originated in his name. So in the course of this interview Elon compared money to an information system for label allocation (1hr:22min into the video) and while at it bagged on the banks as heterogeneous low security high latency databases.
To save you a lot of time, the Bitcoin bit comes at 1hr:33min into the video when one of the interviewers asks "You love code but you dont seem to be bullish about Bitcoin", so the Great One waffle a little first saying he is neither here no there on Bitcoin, calls it "pretty clever" but then takes us down a familiar road with the "there are these transactions that are not within the balance of the law" and reducing Bitcoin to a "legal to illegal" bridge. Gets a little better when he talks about crypto being replacement for cash, but not a primary database...
As a Tesla owner and Tesla/SpaceX/TeslaEnergy fanatic, and a bit of an Elon Musk
What do you think about this folks? Great visionary guy missing the point? I mean he is clearly up the speed on finance and tech, having co-founded PayPal etc..
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