Elon Musk: The bitcoin structure is extraordinary / paper money goes away

Elon Musk: The bitcoin structure is extraordinary / paper money goes away
Abstract

On Tuesday February 19th, Elon Musk, CEO of Tesla and Entrepreneur of Technology, at the podcast of the ARK Investment Consulting Company, said that the bitcoin structure is absolutely fantastic, and digital currencies are a better way than paper money. To transfer value.

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On Tuesday February 19th, Elon Musk, CEO of Tesla and Entrepreneur of Technology, at the podcast of the ARK Investment Consulting Company, said that the bitcoin structure is absolutely fantastic, and digital currencies are a better way than paper money. To transfer value.

In response to the question of whether Bitcoin would be "the only digital currency of the Internet," he said, the bitcoin structure is completely fantastic, but he believes that one of the weak points of the Crypto domain is energy consumption for computing. . Therefore, it is necessary to apply restrictions on the production of digital currency. But at the moment, the production of this growing digital currency consumes a lot of energy.

He emphasized that the use of Tesla's resources in the digital currency domain is functional, "We are trying to speed up the development of sustainable energy."

He went on to say that the digital currency "eliminates monopoly and control of the currency [...] paper money goes away, and the digital currency is undoubtedly more effective in translating value than paper money".



Last February, Elon Musk wrote on Twitter that he had only 0.25 bits of Quinn, and his digital currency asset, with the exception of 0.25 bits of Quinny that had been received a long time ago by a friend, is literally zero.

Previously, large financial institutions have also said that Bitcoin has a unique position as a reserve of value or "digital gold." Goldman Sachs, a former Goldman Sachs partner and founder of the Digital Securities Digital Commercial Bank, also said that Bitcoin would become a "digital gold" and store a value such as gold, Mike Novograths said. An independent value reserve, such as the US dollar, the Chinese currency and other Fiat currencies. This independent place costs a lot, and it should be that way.

The well-known Beat Covey, the CEO and Twitter co-founder Jack Dorsee, said in early this month that Bitcoin had "more than other digital currencies that pursued more general goals and distributed computing They act like a currency. Altoquins are sometimes very good ideas, but I personally focus on a currency and the aspect of trading. "

Source: cointelegraph

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