Theres something about Bitcoin that attracts eccentric millionaires. First we had McAfee, which i would go ahead and say is less of an eccentric and more of a nut hehe, and now Elon is dropping in giving some more legitimacy to crypto.
Lets be honest, regulation is great and it is an important step towards mainstream adoption but without hype and respectable individuals talking about crypto in a positive way cryptocurrencies will never take off. Sure, Elon might be a slightly odd alien like person but there is no denying he is brilliant and respected.
Listening to what he said it seems that he really greatly values Bitcoin. I cant really see him saying anything more potent then this outside literally saying: “Down with fiat!”.
“It [cryptocurrency] bypasses currency controls. … Paper money is going away. And crypto is a far better way to transfer values than a piece of paper, that’s for sure.”
Of course he pointed out a few flaws, one of them being that POW is so energy intensive meaning that a company like Tesla, that is all for sustainable energy, would not want to adopt something like BTC.
I always then ask: “Why not DPOS?”
It boggles my mind that crypto enthusiasts dont realize the limitations such energy consumption creates for crypto.
As i said, its good to see this kind of validation coming from folks in the mainstream. This is a guy that made millions from selling damn flamethrowers so when he speaks, people listen.
Getting Elon on our side was easy… When Warren Buffet green-lights Bitcoin, thats when you will know we are going to the moon. hahaha
Ill see you guys around ….