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.
Anyways…
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 ....
Posted from my blog with SteemPress : https://scrips.io/blog/lordbutterfly/elon-musk-shilling-bitcoin-not-high/
Good stuff. Lots of positive things going on. The next bull run may have the stuff of tulips. ;)
"Lets be honest, regulation is great and it is an important step towards mainstream adoption..."
I wouldn't agree. Regulation always comes with a net detriment, because it introduces cronyism under the guise of legitimacy through imposed authority. It's like putting frosting on cow dung. ;)
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Well it all depends on what kind of regulation we are talking about.
Id say theres the kind that allows ease of access for institutional investors, companies, etc. and then theres the regulation that goes against the core principles of crypto.
Some regulation, some of the time i think is good especially when we are dealing with crypto that can never be regulated to that degree that its core qualities dont stay intact.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I can see why you'd say that. But I'm not in support of any form of government regulation.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I can respect that. Im just not as anti government regulation. I can find value in it if its in strict moderation.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Congratulations @lordbutterfly! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :
Click here to view your Board
If you no longer want to receive notifications, reply to this comment with the word
STOPTo support your work, I also upvoted your post!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Hi @lordbutterfly!
Your post was upvoted by @steem-ua, new Steem dApp, using UserAuthority for algorithmic post curation!
Your UA account score is currently 3.549 which ranks you at #6265 across all Steem accounts.
Your rank has not changed in the last three days.
In our last Algorithmic Curation Round, consisting of 196 contributions, your post is ranked at #110.
Evaluation of your UA score:
Feel free to join our @steem-ua Discord server
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit