Altcoin News: Elon Musk: “Bitcoin’s (BTC) Structure Is Quite Brilliant”

February 20, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

CEO of Tesla and the well-known entrepreneur Elon Musk during an interview with consulting firm ARK Invest said that using digital currency is “a far better way to transfer value than pieces of paper” and the Bitcoin’s structure is “quite brilliant”

“Bitcoin’s structure is quite brilliant […] one of the downsides of crypto is that computationally it is quite energy intensive. So there have to be some kind of constraints on the creation of crypto. But it’s very energy intensive to create the incremental Bitcoin at this point.” said Musk.

The entrepreneur also stressed that cryptocurrencies, in contrast to fiat currencies, can bypass state control. In addition, in his opinion, paper money should disappear, because cryptocurrency is much better suited for the transfer of values ​​than “pieces of paper”.

Last February, Musk tweeted that he owns only 0.25 BTC, which his friend gave him many years ago.

Earlier, fraudsters who hacked Pathe’s official website organized a “distribution” of cryptocurrencies on behalf of Elon Musk. Participation conditions are fairly simple and common for such frauds: the victim transfers 0.1–1 BTC to the specified address and receives back the increased amount.

Will Elon Musk join Lightning Network Torch?

“@elonmusk send me an invoice and join!!” tweeted well-known crypto educator from Sweden, inviting Elon Musk to join his LN Torch.

He even gave Musk the instructions:

Author: Marko Vidrih