Elon Musk: bitcoin is better than paper money

[Paha87]

Tesla CEO Elon Musk said that the bitcoin (BTC) structure is like a "pure diamond" and that the digital currency is "a much better way to transfer value than paper money." Musk made his remark on the ARK Invest podcast, February 19.

Answering the question about whether bitcoin will become the only native cryptocurrency on the Internet, Musk said that "the structure of bitcoin as a pure diamond", and that he believes that " one of the disadvantages of the cryptocurrency is that it is computationally quite energy-intensive, so there should be some restrictions on its mining. But at the moment it is very important to create additional bitcoins."

On that note, Musk stressed that "it would be wrong to use Tesla's resources to participate in the crypto-sphere. We're just really trying to accelerate the promotion of sustainable energy." The head of Tesla and SpaceX continued by saying that the cryptocurrency "bypasses control over the currency [...], paper money is going away and crypto is a much better way to transfer value than paper money, that's for sure."

In February last year, musk tweeted That he owns only 0.25 BTC. In the same tweet, he noted that in addition to 0.25 BTC, which he was transferred by a friend "many years ago", he " literally does not own a cryptocurrency."

Dissemination of opinion

Previously, major industry players also claimed that bitcoin holds a unique place as a store of value or "digital gold". Mike Novograz, a former Goldman Sachs partner and founder of the crypto-trading Bank Galaxy Digital, said that "bitcoin is going to become digital gold - a place where you have sovereign money and it's not US money and not Chinese money, but sovereign. Sovereignty is expensive."

Read on: Investors share their opinion about bitcoin

Twitter co-founder and CEO Jack Dorsey, who is well known for his belief that bitcoin will become the "native currency of the Internet," said earlier this month that "it is [bitcoin] that is most suited for this role."

Link (Russian) - https://altstake.io/news/ilon-mask-bitkoin-luchshe-chem-bumaghnye-denygi

[tsakf]

Of course. Elon, understands technology. Everybody, who knows about technology, understands, that cryptocurrencies, are better than paper money.

[aryaan]

yes he said well ,there is no doubt that bitcoin is better then paper money blockchain technology is future technology

[trauchot]

Many people who understand cryptocurrency technologies and they understand that bitcoin is the future and technologies and capabilities of bitcoin will lead us to new heights, as all those properties that bitcoin has, paper money doesn't have, and this attracts many people to use bitcoins.

[Moshaid]

Apart from the fact that this is another way to publicize bitcoin, I agree with the fact that bitcoin is like a gold which is better than paper money. Bitcoin acceptance is getting stronger and what it entails in the future is something no one can predict but will surely be a positive future assurance.

[giovinco21]

Bitcoin doesn't have bacteria on it's surface

[Alcor]

Bitcoin doesn't have bacteria on it's surface

Ilon Musk is looking for bacteria on the surface of Mars, not Bitcoin. Of course, he understands technologies, although, apparently, he does not show a due financial interest in Bitcoin. Until now, only donated 0.25 bitcoin donated, it is unresponsive to bitcoin from such a billionaire. Although Ilona Mask has her hobbies and I am very respectful towards him for that. He himself promotes our practical knowledge of the cosmos much more than other large states.

[Paha87]

Bitcoin doesn't have bacteria on it's surface

Ilon Musk is looking for bacteria on the surface of Mars, not Bitcoin. Of course, he understands technologies, although, apparently, he does not show a due financial interest in Bitcoin. Until now, only donated 0.25 bitcoin donated, it is unresponsive to bitcoin from such a billionaire. Although Ilona Mask has her hobbies and I am very respectful towards him for that. He himself promotes our practical knowledge of the cosmos much more than other large states.

Hi friend, you can throw me a link about how Ilon Musk  is studying space, this topic is very interesting.

[shrexcrypto]

That's really nice to hear that people like elon musk are understanding the advantages of crypto currencies .

[Fenix]

I respect Ilona Mask for what he does for humanity in the field of space exploration. Waiting for people to appear on Mars. There is a version that we actually come from Mars, and this can be confirmed. The planetary attraction there is much better for man than the earth, and if there is a proper order with the atmosphere, then man would feel much better on Mars than on Earth.
As for cryptocurrency, it seems that Mask has no time to do it.