ELON MUSK OPENS UP ON BITCOIN, FINALLY

Posted 24 January, 2020

ELON MUSK FINALLY TALKS ABOUT CRYPTO

 

Over the past few years, Elon Musk has become a fairly popular personality on the Internet. He has been involved in various podcasts and has become a large part of the online meme community. However, one area where his opinion was only supposed, but never confirmed, is the cryptocurrency sector.

Musk posted several tweets mentioning cryptocurrencies such as Bitcoin, Ethereum, and even Dogecoin, which he said are favorites. However, he was never recognized to being cryptocurrency user or investor and never explained his position.

Musk recently appeared in the episode "Third Row Tesla Podcast", where he discussed various things, and cryptocurrency also became a topic. His hosts asked him what he thinks about bitcoins directly, and Musk gave a mysterious answer, saying that he was "neither here nor there".

 

Vaizdo rezultatas pagal užklausą „Third Row Tesla Podcast“

All podcast you can watch there - https://youtu.be/NxmO_QuD4Do.

 

 

MUSK VOICES HIS TRUE THOUGHTS OF BITCOIN

 

Fortunately, this time he did not leave him, and in fact, he spoke in detail about his approach to cryptocurrency, showing that he likes this concept and considers it “smart”. But he is also concerned about their role in making it illegal deals.

 

"There are transactions that are not within the balance of the law. And there are, obviously, many laws in different countries. And, normally, cash is used for these transactions. But, in order for illegal transactions to occur, cash must also be used for legal transactions. You need an illegal-to-legal bridge. That’s where crypto comes in."

 

Musk admitted that cryptocurrency is not completely “dark” - alluding to its use on a dark network - since then no one will be able to buy “ordinary stuff”. He also noted that there are places that no longer accept cash, noting that, of course, there is legal access to cryptocurrency.

In conclusion, Musk said he could view cryptography as a cash substitute rather than as a "primary database".

 

BITCOIN’S DARK PAST STILL DOES NOT LET GO

 

Of course, the role of Bitcoin in illegal transactions, especially on the dark Internet, is no secret. In fact, the crypts spent more time in the shade than in daylight. It is worth remembering that they became “large” only in 2017, when the price of BTC began to rise, and to this day it is the largest bull run ever seen in the history of encryption.

Previously, cryptographers were used by technical experts and cybercriminals, and there were reports that a large number of BTCs were confiscated after authorities took measures against dark Internet operations.

However, Musk indicated that he is not trying to value cryptocurrency and, in fact, believes that there are many illegal things that, in his opinion, should not be illegal.

Thus, the world of encryption finally got the official approach of Elon Musk on cryptocurrency and bitcoins. In other words, despite his cryptocurrency of ‘Easter eggs’ on Twitter, Musk seems to believe that the fate of the cryptocurrency has yet to be decided, especially its role in the financial future.

 

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