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

[Broly46]

Great to see Elon Musk acknowledge the bitcoin. I don't know why some billionaires hate bitcoin, and some like it, I thought all tech savvy will like bitcoin, but Bill Gates are some of them who decided to hate it. But I think people will change their perception about Bitcoin overtime, they might hate it sometime ago and changed their mind later.

[Indrawan77]

Well it's true that for payment transfer system crypto is better than fiat, in transaction we need a fast, effective and efficient system, and crypto could provide all of that, and now the society is preparing toward a cashless transaction, so it's not wrong that Elon Musk predicted that we are toward a cashless transaction system and he choose crypto

[vit05]

He's a tech guy. Always enjoyed reading and understanding about all subjects. He made a fortune with a company that revolutionized the way you pay for goods and products on the internet.

I find it odd that it takes time to understand what Bitcoin really is. He has never been contrary, but also has not yet become a lover. I believe that the moment he stops and studies about, he will be amazed and will certainly try to somehow create a new company related to it.

[pooya87]

anybody with half a brain has always understood the brilliance of bitcoin and saw the long term potential of it by simply looking past the price and drama that always surrounds bitcoin.

Pretty exciting, hopefully some good press can help keep this week's run going!

"good" stuff like this is always around even during the downtrends but they can never change the trends. right now we are trying to break a resistance and it won't be changed with news. it will take time and multiple tries before the breakout happens.

[Kakmakr]

This is a huge compliment, coming from the co-founder of PayPal. Elon Musk is not unfamiliar with alternative payment systems and the Banking industry < he also founded X.com, an online bank >, so his opinion comes with a lot of weight and experience.  

Musk has a good eye for emerging technologies and also technologies that might have potential for disruption of traditional systems and technology. <After all, he took on Oil companies with his electric cars and governments (NASA) with space exploration.>  

[Jating]

Great to see Elon Musk acknowledge the bitcoin. I don't know why some billionaires hate bitcoin, and some like it, I thought all tech savvy will like bitcoin, but Bill Gates are some of them who decided to hate it. But I think people will change their perception about Bitcoin overtime, they might hate it sometime ago and changed their mind later.

Well you just have to understand where they're coming from. Bill Gates loves technology, but I think he find something in bitcoin that might affect his business that's why he doesn't appreciate it.

Of course there's the possibility that most haters will make a U-turn in the future, specially if they really understand that bitcoin doesn't affect the financial world negatively and it won't disrupt some old traditional system.

[bitfocus]

paper money will go away sooner or latter, crypto will stay, to be specific, BTC and some govt. abcked crypto will stay.

[GunsLair]

This is really an amazing utterance, given the fact that Elon Musk himself doesn't own bitcoin, but only a small part that someone gave him. And this is his first public statement regarding cryptocurrency says to us that more and more serious people are optimistic about the future of bitcoin.

[eaLiTy]

Elon Musk is the most brilliant individual with entrepreneurship skills and made a huge empire out of his inventions. He had his opinion about bitcoin and in fact it is true to say that it is easy to make bitcoin transaction globally without any hassle than paper currency and since he is an entrepreneur he knows better but that does not mean that paper money will fade away in the future, we need both forms of transaction, bitcoin for trade and commerce and international trade and obviously if local merchants accept bitcoin it is well and good if not we need local currency.

[aad140386]

I already had time to read this news. This is a small positive for cryptocurrencies, but nevertheless the more famous people will speak positively about cryptocurrencies, the sooner cryptocurrencies will be accepted by humanity as a new financial reality. Especially if Bitcoin can prove its advantage over fiat money. We all just need to be patient and wait for a new bull market. The blockchain has great prospects, just quickly nothing happens. It takes time for humanity to appreciate all the advantages of the new technology.

[goaldigger]

"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!

Its not a surprise knowing it comes from the mind of Elon Musk. I admire his works not just his electric tesla cars but those rocket he flew from space. Even the person with technological advancements knows cryptocurrency is a big deal for mode of payment that can somehow be replaced fiat.

[VAGR]

Elon Musk is a man of legend, man of innovation. I am sure, that we will be able to buy tickets for his spacecraft to Mars for bitcoins.

[teejayrichard2]

well this is good coming from Elon Musk but i dont think paper money will come to an end as both cryptocurrency and paper money can co-exist. while cryptocurrency is good for huge transactions especially across borders, paper money is good for one on one transaction especially in market places. so both cryptocurrency and paper money can actually co-exist.

[Artemis3]

well this is good coming from Elon Musk but i dont think paper money will come to an end as both cryptocurrency and paper money can co-exist. while cryptocurrency is good for huge transactions especially across borders, paper money is good for one on one transaction especially in market places. so both cryptocurrency and paper money can actually co-exist.

But only for a while. In time, everyone will have some sort of computer either wearable or implanted, making the need of physical money obsolete. Of course Elon is looking ahead, but it should take another century before physical money is seen like horse carriages. Sure you could still use one, but few do...

[akeegan]

I just wish we had more visionaries like him being proactive in the cryptosphere

[EriksonPartners]

 I feel like Elon Musk is one of the few people who actually care’s about making a difference and delivering good things for the human race and planet in general. Even if not a devoted crypto fan, he still is highly intelligent and can tell that cryptos are the future. With his statement or not, it is obvious we are moving into a digitalised world where paper money will stop existing.

[audaciousbeing]

"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!

Of course paper money would give way eventually or be reduced to a ridiculous certain percentage of spending without any doubt however, it does not mean that automatically translate to the use for crypto because even now, electronic money have been the other of the day especially for the teeming youth population that virtually every transactions can be done via mobile application. Ellon's comment is really not coming as a surprise though because he has been known to not follow the norm and on the other side of things. But hopefully, the new wave of things would benefit the entire crypto market.

[meanwords]

You should have included everything in the link though so we could see the whole article. Well, Elon Musk is smart when it comes to technology. He might have seen the potential of Bitcoin in the future. They might not use Bitcoin today, it will come in time when Bitcoin solve most of its problem which will give way for Elon to use it.

[Slow death]

"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!

these guys speak very well about cryptos, but they do not have cryptos and do not use cryptos.

Tesla Billionaire Elon Musk Says He Owns $2.5K In BTC, Or ‘Literally Zero Cryptocurrency’

they have lots of money and they do not have cryptos, that leads me to ask the following question. Why do not they have cryptos?

[thefoex]

"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.

yes you are right, one of the problems with crypto is that they are unstable, even though their work methods are very good but too many risks must be borne by the user. but despite all that I still believe that someday crypto will replace FIAT