Will money really loose its relevance as said recently by Elon Musk ?

[wozzek23]

I think money is not going to lose relevance unless tomorrow we get enslaved by aliens. Then yes, it might. But what are the chances of that?

Money is however going to change its form. And Bitcoin is showing the next generation of what money should be. And once it is adopted fully and replaces fiat, we will have a better world.

That's crazy and what could be more crazy is if the aliens also uses money. I think I already saw that kind of scenario on the TV before. IDK if aliens are really true but I can get scared more with the AI because they are legit. You are right money did change form all through the years. I mean their shapes, sizes, and design. But there is also digital money now for use online. BTC is only another category of money but I feel that there is some complications if BTC is the ones that we will use instead of the old money. It could be because BTC only has a limited supply. There is also the fact that it is highly volatile but its limited supply can also be one of the reasons for it.

[viljy]

Will the money become unnecessary? Will work turn into a hobby? I'm learning something very familiar about this... This is communism! Has Elon Musk turned into a Marxist?
In fact, in any economy in which there is a division of labor, there is inevitably an exchange of products of production. Any exchange based on barter always evolves into trade. Trade requires the existence of a medium of exchange. The medium of exchange is money.

[YUriy1991]

In one of the podcasts, Elon Musk said that money will loose relevance. Working will be option like a hobby. Can this really be true in near future or it was said to grab headlines ?

I believe what Elon Musk said is true, and the world is currently heading in that direction. According to some experts who have put forward theories, money is just an illusion. The only meaningful asset is gold. As the world evolves, gold will be replaced by Bitcoin. I believe this is because in the future, gold mining will threaten the ecology due to overexploitation of nature, so humans will shift to other activities, such as Bitcoin mining. In the future, work as a hobby will be fully realized if all human needs are met. Currently, people work because they want income and money to eat and live. But when those needs are met, then, as Elon Musk said, work will become a choice, like a hobby.

[Synchronice]

The logic is that, just to give an example, if Tesla can make cars that can be driven by AI and no need for any humans to drive, then taxi and uber drives will be out of a job.

There is an American autonomous driving technology company called Waymo, which operates commercial robotaxi service in the USA in some cities and they want to expand to Europe too. I have used Waymo once in the USA and I was very satisfied with the experience.

Same with warehouse workers where if you can order something from amazon and can be delivered to you without any human touching it, that means many people will be out of a job and all of these things are under production right now and can be doable very easily in 10 years maybe sooner.

As far as I know, China is actively working on that. They are trying to automate warehouse processes and they also try to automate how trucks move in the warehouse to get filled and emptied. The thing is, these jobs that will get replaced, are mostly done by immigrants in rich countries and the situation might become terrible for them.

[Iranus]

I believe what Elon Musk said is true, and the world is currently heading in that direction. According to some experts who have put forward theories, money is just an illusion. The only meaningful asset is gold. As the world evolves, gold will be replaced by Bitcoin. I believe this is because in the future, gold mining will threaten the ecology due to overexploitation of nature, so humans will shift to other activities, such as Bitcoin mining. In the future, work as a hobby will be fully realized if all human needs are met. Currently, people work because they want income and money to eat and live. But when those needs are met, then, as Elon Musk said, work will become a choice, like a hobby.

Which expert? Which expert predicted that Bitcoin will replace gold, the world will stop mining gold and switch to Bitcoin? If this isn't your statement, I'm guessing it comes from some bitcoin or crypto expert, right?

I don't know what world you are in, but if you are in the same world as me, it is Earth. I bet the world you are talking about will never exist and we are not heading there.

Look at the direction the world is going, everything seems to be moving in the direction of the rich getting richer, while the poor getting poorer. So there will never be a time when everyone in the world is provided with income and daily necessities, and work is just a hobby.

[shield132]

I will say this. AI is very good but money will not lose its relevance in the next 20 years. Since I'm into UI/UX design, I've been in touch with many business owners. Despite the fact that things are getting easier and will get easier in the future, business owners still need people who will correctly use AI. It's easy to create a very basic website with AI but people still pay money because business owner doesn't know how to create a website, even if you give him an AI and provide with promts, he still prefers to pay because in order to create a website, he has to waste time and has to learn a new thing, which is uncomfortable for rich people because they can use that time differently.
Despite the fact that things get easier, things don't get cheap because when someone wants a website, they are looking for recommendations. If I create a website for $1000 and another person can do the same for $100, if I'm recommended to the business owner by many, he will prefer to pay $1000 to me over paying $100 to someone else because I was recommended to him.

My point is that jobs will exist even if AI makes lots of the hard work for us. Someone has to know how to use the tool and someone has to be a supervisor. If there will be very low demand on people, they'll find different ways to earn money, as many people stream games today and do other social media activities because they couldn't land a normal paying job in current market. Elon Musk's statement is definitely exaggerated. His vision about the future is much different because he lives in a different reality but that doesn't mean his vision is realistic.

[Oluwa-btc]

In one of the podcasts, Elon Musk said that money will loose relevance. Working will be option like a hobby. Can this really be true in near future or it was said to grab headlines ?

Well one thing Elon musk is known for is always making sure he gives people what to talk about so this podcasts is regarded as one of his usual tips to grabbing headlines. He can't decide the future but he can keep making unpredictable exergeration of things . How do you expect working to be like a hobby when alot of individuals and businesses are making it out there and creating a wider pace for opportunities.

[uneng]

Money is the main driving force in this world right now, so how will it stop being relevant suddenly? It might happen someday, but we are too far from that time yet. Also, everything coming from Elon Musk is quite suspicious, so I wonder what could be the meaning behind this world where money doesn't have relevance anymore?

Would it be the Technofeudalism people are starting to talk about? Just like in a feudal system, as a serf, you don't work for a wage, but for food, protection and a roof over your head guaranteed by the feudal lord. Also, slaves don't need money, so could it be what Elon Musk is talking about?

[o48o]

In one of the podcasts, Elon Musk said that money will loose relevance. Working will be option like a hobby. Can this really be true in near future or it was said to grab headlines ?

I think that in his version of the future, he just dreams about time when he doesn't need to pay for his workforce. What they do for living doesn't interest him. And i am guessing he wants the power balance to stay as it is, so it's not like he is giving up anything of leverage for others.

He already was in position to help people, yet he is actively against the very idea welfare of anyone. So what's the difference in the future?

And why do people think that listening to him is a good idea? He obviously have no sense of proportion, or any sense of reality about people living with low income.

[fortunecrypto]

In one of the podcasts, Elon Musk said that money will loose relevance. Working will be option like a hobby. Can this really be true in near future or it was said to grab headlines ?

You should have posted the podcast link so we could confirm what he said. I consider this an insult to the working class, as there are working classes in our country that work to death to get money to pay for the bills and food on the table.
Given how the world struggles to find work amid AI competition and global inflation, it's hard to make work just an option. People have been working for thousands of years, and there will be no stopping working because the economy is getting worse in many countries.

[capokmerah]

In one of the podcasts, Elon Musk said that money will loose relevance. Working will be option like a hobby. Can this really be true in near future or it was said to grab headlines ?

It wouldn't be Elon Musk if he didn't like making extreme statements. Well, in my opinion, his idea is possible, but it won't become a reality anytime soon. Elon's statement is more provocative than realistic. Because, for "money will lose its relevance" to happen, there are still many obstacles, including economic and political factors that are still not strong and evenly distributed throughout the world.
Indeed, if we look at the technology that continues to move towards automation, this achievement will eventually be realized.

[Rabata]

In one of the podcasts, Elon Musk said that money will loose relevance. Working will be option like a hobby. Can this really be true in near future or it was said to grab headlines ?

Money has always been important and will continue to be so in the future. It is possible to predict what will happen in the next 50 years or more. People are currently relying on this AI for everything from production to use. It is certain that this AI will be used for most of the purposes in the future. At that time, the space for people to do their own work will be reduced. In most cases, the work will be done by it. But the place of financial transactions or money will remain unchanged. After fiat money, cryptocurrency will take the place of financial transactions.

[Marvelockg]

In one of the podcasts, Elon Musk said that money will loose relevance. Working will be option like a hobby. Can this really be true in near future or it was said to grab headlines ?

In the future, there are a lot of things that will change but the relevance of money as an exchange for a work done will remain a relevant thing that will be useful even in years to come. Money rules the world and so, regardless of how every other things change in the world, the relevance of money as the kernel of every industry can't be underestimated.

People's interest in things based on the direction things is headed to will change but considering the generation of people around, they are more interested in money than any other aspect of the world's economy.

[iv4n]

In one of the podcasts, Elon Musk said that money will loose relevance. Working will be option like a hobby. Can this really be true in near future or it was said to grab headlines ?

It's just Elong... It seems that everything he says is intended to grab headlines. I guess that's the price when you are at the top.

Working can be an option, something like a hobby. I mean, this is not entirely impossible when we think about it! But when we come to a question "When", things can become tricky. Not in the near future for sure...

Jobs & the economy we know will stay the same for now.

[tabas]

In one of the podcasts, Elon Musk said that money will loose relevance. Working will be option like a hobby. Can this really be true in near future or it was said to grab headlines ?

IIRC, he's said that it's going to be like a pension to all and no one's ever working again. Sort of like that but if someone like him tells that, people might be misled to the ideals of their own principle just because they've heard someone like Elon tells tales like that. No one knows what's in the future but the relevance of having money is going to be still. Right now, we see people that are chasing for money and working for the rest of their lives because life is uncertain and that's why if someone tells you that working is an option, that's because they're on that privilege and they can live for the rest of their lives without having the need to go to work.

[coin-investor]

Elon Musk's thinking is very different from how we feel. The guy's thinking is very clouded; he based it on his way of living and thinking. He is one of the most misunderstood men on this planet.
For someone who said that money will lose relevance, he needs a good explanation because everybody is working hard to earn money, and everything depends on money.
It's good to make working a hobby, but for many people, it's not possible; they have to fight for their place in a company.

[Cheema02]

In one of the podcasts, Elon Musk said that money will loose relevance. Working will be option like a hobby. Can this really be true in near future or it was said to grab headlines ?

Money has always been important and will continue to be so in the future. It is possible to predict what will happen in the next 50 years or more. People are currently relying on this AI for everything from production to use. It is certain that this AI will be used for most of the purposes in the future. At that time, the space for people to do their own work will be reduced. In most cases, the work will be done by it. But the place of financial transactions or money will remain unchanged. After fiat money, cryptocurrency will take the place of financial transactions.

Elon Musk's statement that money will lose its relevance is not about the present but it's a future vision and maybe we will soon see this. As we saw AI and machines can do every operation in a very limited time with accuracy and with no scarcity and also a very short budget required to maintain the AI based machinery and maybe in future AI takes over most jobs but that level of automation still takes some time. And if it happens then the people will also need some ownership system to operate the AI system and for exchange and that system is money. If we deep dic in history we analyze that money has never disappeared, it has only changed its form, for example many years ago people trade in coins then it transfers to paper money and now it converts into digital currency and also in cryptocurrency. Maybe AI will reduce human labour but it will not remove the need for transaction and at least for the next 50 years money will remain existing for the global economy.