Elon Musk calls cryptocurrency 'brilliant' while predicting end of paper money..

[CryptoPressAssociation]

"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!

[mrdeposit]

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.

[dothebeats]

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.

[Razerglass]

"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.

[worldofcoins]

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.

[gabmen]

"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.

[HODL2090]

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.

[avikz]

"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!

[kryptqnick]

"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.

[Velkro]

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

[aoluain]

"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.

[angel55]

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.

[DeathAngel]

"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.

[royalfestus]

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.

[shield132]

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.

[vv181]

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.

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.

People think sometimes that I’m like a business person or finance person, or something like that. I’m an engineer. I do engineering, always have.” — @elonmusk [0:12:33]

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/podcast

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.

[Digitalbitcoin]

"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.

[gantez]

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.

[YuginKadoya]

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.

[KingScorpio]

"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