Elon Musk has to give some crypto assessments in the CodeCon interview. He doesn’t actually see himself as an expert at all.
In conversation on the CodeCon On September 28, Tesla CEO Elon Musk explains why the Chinese government is cracking down on crypto currencies so that a proper crypto ban is not possible and that he is actually not that great of a crypto expert himself.
Musk at CodeCon
Kara Swisher leaves in her one hour Talking to Musk won’t do any harm. Right at the beginning she would like to know what is happening with crypto currencies in China. Elon Musk explains that the People’s Republic currently has a problem with power outages in its own country. He thinks it is possible that the mining ban could have something to do with it. Furthermore, the idea of Bitcoin and Co. also substantially contradicts the centralistic behavior of the Chinese leadership:
I suppose that crypto is basically aimed at reducing the power of centralized governments. And I think they don’t like that.
Elon Musk, CodeCon
The Chinese government currently seems to have demonstrated its assertiveness against crypto companies. More and more Bitcoin companies are currently turning their backs on the country.
Read too
Prohibitions are not possible
Basically, he is of the opinion that there is “a long-term goal” for cryptocurrencies. He believes that
no form of money another achievement [bietet] as a means of exchange of value for goods and services To be between people or to transfer a value over time, such as a wage.
Elon Musk, CodeCon
Therefore, he sees no reasons why the US Securities and Exchange Commission (SEC) should take action against cryptocurrencies. Instead, he would suggest “nothing [zu] do”. Regardless of this, he also considers it impossible that regulatory authorities could “destroy” cryptocurrencies. These can only slow down progress in the industry.
What can crypto do?
The moderator also wants to know whether Musk thinks it is good that he can influence the price of some crypto currencies by means of a tweet. He replied with a grin that it would be a good thing if this would cause the course to go up.
In general, however, he does not consider himself or crypto currencies to be anything special, very modest:
I wouldn’t say that I am a massive cryptocurrency expert. A cryptocurrency has a certain value. I don’t think it’s like the resurrection of Christ. It will hopefully reduce the errors and latency in the monetary system.
Elon Musk, CodeCon