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

[jpnl0005]

Its a very positive one and very energetic with so much support and hope for something much more better but still paper money can not go away it may rather work side by side with crypto currency which will make it more interesting for everyone

[libert19]

End of paper money? that's bit over the top. You can't just abolish something that took years to build, BTC is still very new.

[kaya11]

It is hard for me to believe in such words, end of "paper money". So many fossil fuels to burn just to support whole world's crypto currency payment methods. When there is a famous guy supporting crypto says something good about it, they most likely be loosing fame or connections. Now sooner or later Elon Musk will also be called crazy by the media covering Bitcoin is a bubble. Good luck to him.

[qiwoman2]

It's nice to see cryptocurrencies endorsed by more noteworthy business people around the world and the more that recognize it's worth and utility, the more we will see ordinary people using it. I think that in 2020 we will have a bigger bullish sentiment around cryptocurrency as more and more infrastructure is laid out and everything is made easier for the usability of crypto among the more ordinary folks who have not yet even known about Bitcoin before now, despite it has been around for ten years or so. It takes time for a technology to be adopted, especially this newest one, the blockchain.

[proTECH77]

End of paper money? that's bit over the top. You can't just abolish something that took years to build, BTC is still very new.

Not saying will not happen but considering the fact that Bitcoin is a growing technology will not replace fiat immediately rather will keep developing and taking the fiat off its usual position. Even after the adoption of Bitcoin, it will take it some time to get ride off fiat, even though it will. In my opinion, the two are complement of each other and should have their purpose.

[gabmen]

End of paper money? that's bit over the top. You can't just abolish something that took years to build, BTC is still very new.

Not saying will not happen but considering the fact that Bitcoin is a growing technology will not replace fiat immediately rather will keep developing and taking the fiat off its usual position. Even after the adoption of Bitcoin, it will take it some time to get ride off fiat, even though it will. In my opinion, the two are complement of each other and should have their purpose.

Well we all know elon musk is a visionary and is all for technological advancement, so he may have taken that statement a little further but who knows. I agree that in time, the way we do things may change and crypto could be that change for how we do regular daily transactions.

[Leonardo7]

The big bank owners know that paper money is no longer feasible in this age, but because they make a fraudulent gain profit from it, they keep fighting to retain it, while depositors are made to suffer and pay for their expensive lifestyle. That is corporate wickeneess. Their days are number, you can't suppress the truth forever.

[Caladonian]

End of paper money? that's bit over the top. You can't just abolish something that took years to build, BTC is still very new.

Logically right, it will take a longer time before this statement can be concluded, building paper money as  strength of a country would be hard
to be abolished just because of new way of payment currency, chances that they can work alongside each other and be more useful in the near
future, he's another famous personalities to support crypto but it's another speculated statement that can't be assured anything.

[reda]

That is awesome by Elon Musk. He is personally came across many problems and he can just better than other world personality.
I wish this should be happen in the market and we need to grow more in the value and usage also should be increased.

[dablatair]

Hello,

Another really intersting statement of Elon Musk ! He is very visionnaire and experienced so good point for Crypto expansion in general but it will be really hard to be free of paper money, specially for countries that will not ended so easily. there are many things to improve like transparency and security to go further in that way.

[rnchavez19]

Although there is a continuous trend in cryptocurrency, I'm pretty sure with what he said in the last line that he also meant that paper money... ("hard money") is still more valuable.

[Thekool1s]

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.>  

Not only that, He plans to dominate the internet itself. Heard about the Project Starlink? It will be going up in the next 3 years and will provide high-speed internet access to the masses within a decade. Lots of exciting stuff is coming up. Recently Musk got the clearance to launch some 6000 satellites to launch within the period of next 3 years, expect some live streams from SpaceX

[Mrsparks]

I unarguably support his opinion. Fiat currency is a mess in some underdeveloped nations and the inability of the Government to manage the economy see them printing more and more worthless paper and devalue the economy. Bitcoin and cryptocurrency is the best option..

[Kakmakr]

I unarguably support his opinion. Fiat currency is a mess in some underdeveloped nations and the inability of the Government to manage the economy see them printing more and more worthless paper and devalue the economy. Bitcoin and cryptocurrency is the best option..

Just remember one thing and that is that Bitcoin is not immune to these types of actions. We have already seen fractional reserve type practices in some of these dodgy Bitcoin exchanges and this is also a threat to Bitcoin's future. I am normally against any type of over regulation, but we need some oversight from some government to prevent these actions from scrupulous profit hunters on these exchanges.

Bitcoin cannot print "toilet paper" money, but centralized exchanges can cheat the system within their local ledger software. 

[aprilnot]

"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

yes you are right, paper money will never disappear. it's hard to make everyone use crypto when the value is unstable. I think Elon knows this. but maybe he just made good crypto images when the market crashed.

[teejayrichard2]

Elon Musk has taken time to study cryptocurrency using blockchain technology and has seen the great potentials and benefits it offers to the world, that is why he is all out showing his support. Though i am in support of him calling cryptocurrency brilliant, I don't believe paper money will end but it will rather co-exist with cryptocurrency.

[bustedsynx]

Elon Musk has taken time to study cryptocurrency using blockchain technology and has seen the great potentials and benefits it offers to the world, that is why he is all out showing his support. Though i am in support of him calling cryptocurrency brilliant, I don't believe paper money will end but it will rather co-exist with cryptocurrency.

Kinda like when I want to hang photos of my family on a wall with picture frames, I bring my phone to Kodak labs for prints. LOL, I remember using those 35mm film rolls and snapping pictures without knowing how it would look like and only after the film is developed and printed, would I know.

[teejayrichard2]

Elon Musk has definitely seen the potentials bitcoin has after making his analysis, thus calling cryptocurrency brilliant but predicting the end of paper money is something I don't think will occur. Paper money will not end but will co-exist with cryptocurrency. Well I maybe wrong but that's my opinion.

[xWolfx]

End of paper money? that's bit over the top. You can't just abolish something that took years to build, BTC is still very new.

I don't think that it is, like, at all. I personally admire his capacity to build and if i can emulate even a bit of the great treats he has i could build cool things too since i have a lot of ideas.

Paper money will become(if it's not already) a burden for some governments and it will certainly be eliminated in the future. It's not really needed as long as a pretty good payment method is around that allow us to pay absolutely everything with virtual currency.

For example, in Venezuela you can only get like less than $1 everyday out from the bank. Yes you can't do practically anything with that. Imagine if instead of printing more and raising the inflation, everybody accepted virtual currency?. There wouldn't be a problem at all.

[incomefromcoins]

Elon Musk is a visionary entrepreneur he invented the PayPal and now he is seeing cryptocurrency he can analyse the future money and predicted cryptocurrency is future money