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Elon Musk's complex relationship with crypto



Last week, the technology teacher and Tesla director Elon Musk said that Bitcoin's (BTC) structure is "quite brilliant" and adds that the digital currency is "a far better way to transfer value than pieces of paper."

It was perhaps the simplest commentary on cryptocurrencies and blockchain from Musk so far, as he usually tends to avoid the subject. However, there have been some meetings between tech mogul and crypto to date. After all, given Mike's past experience in PayPal, he couldn't pass the innovative digital payment method.

This is how his relationship with crypt has evolved since 201

4, when he made his first public comment on Bitcoin.

October 2014: Elon Musk claims that Bitcoin will be mostly used for illegal transactions

8. October 2014, Musk was interviewed by Walter Isaacson on stage at Vanity Fair's new establishment summit. At one point, Isaacson asked Tesla CEO if he thought Bitcoin would be disruptive to fiat currencies, which he replied:

"I think Bitcoin is probably a good thing. I think it's going to be a means of doing things illegal transactions. But it is not necessarily bad. You know, some things may not be illegal. "

Musk then added:

" It would be useful for legal and illegal transactions. Otherwise it would not have some value as a use for illegal transactions, because you must have a lawful illegal bridge. "

The contractor followed his comments by revealing that he had no BTC at that time.

November 2017: Musk clarifies that he is not Satoshi, says he owns "part of BTC"

On November 22, Sahil wrote Gupta, who was allegedly a former intern at SpaceX, a medium-sized recording that Musk could be Satoshi Nakamoto, the original creator of Bitcoin.

Specifically, Gupta Musk's background in economics, experience in production software and innovation history emphasized to postulate that Musk could have invented Bitcoin.

The theory was very soon disputed by Musk himself, as tweeted that Gupta's suggestion "is not true". However, SpaceX's CEO added that he had "part of the BTC" a friend sent him a few years back.

December 2017: Musk says he has never heard of Bitcoin [19659005] On December 22, Neeraj K. Agrawal, a nonprofit crypto research employee CoinCenter, took on Twitter to ask Musk if he created Bitcoin, like tech tycoon replied that he had never heard of it, "connects a satirical article about The Onion entitled" Bitcoin Plunge Reveal's Possible Vulnerabilities in Crazy Imaginary Internet Money. "

January 2018: Musk References Crypto Hype to promote a flamethrower

In January 2018, when great altcoins were enjoying Musk used his all-time heights after Bitcoin's record rise, the consecutive crypto hype to promote a flamthrower released by its tunnel construction company, The Boring Company:

"Flamethrower is sentient, its safe word is" cryptocurrency "and it comes with a free block chain. "

February 2018: Mouse comments on Twitter crypto scams, revealing how much BTC he holds

In February last year, SpaceX CEO addressed a growing Twitter trend, while scammers would pose as famous characters like Musk or Donald Trump and trick users to send them cryptocurrency.

Alleged that one of the tweets asks why such a spamming was so prevalent, Musk claimed that he had already contacted Twitter CEO Jack Dorsey regarding this issue.

"I literally own zero cryptocurrency, except .25 BTC as a friend sent me many years ago, "he also revealed, which seems to check out with that comment about his cryptic crew.

At that time, his BTC tokens accounted for $ 2531. From now on, this number will be even more modest, lying around the $ 975 mark.

Interestingly, just a few days before Musk's tweet, Tesla's Amazon Web Service (AWS) software became rebeholder hacked by crypto drivers. Specifically, scammers have access to Tesla's AWS access information by entering a non-password protected Kubernetes software container. Then they used that container to my Bitcoin for an unknown time. The attack was well-coordinated, as the hackers set up their own mining pool software and connected the malicious script to an "unlisted" endpoint, keeping the CPU usage at a low level to prevent being detected.

In December 2017, an owner of a Tesla S car reported that he had Bitcoin mining with the car's top loads, and put a mining rig in the suitcase.

March 2018: Musk is Discovered and Holds a Book on Crypto Curves

In March, a picture of Musk with a book entitled "Cryptocurrencies Simply Explained" appeared on the Web . The picture was taken at the South by Southwest festival, where the contractor allegedly took one item from the crowd to sign. According to the book's author Julian kept the Hosp, Musk book.

  Elon Musk

Source: photo of Ryan Chylinski on Twitter

October 2018: Musket's jokes about selling Bitcoin are banned from Twitter

22. October Tesla CEO provoked some rumors about the company's involvement in cryptographic bugs by posting a tweet who said "do you want to buy Bitcoin?" The image attached to the post was taken from the Cryptocurrency Girls website, which displays large cryptographic curves as anime characters.

Later, Musk confirmed that it was a gag. "I just spoke," he said during a recent podcast hosted by ARK Invest advisory firm. "Bitcoin and Ethereum scammers were so violent on Twitter, I decided to join in and I said at some point you would buy some bitcoin?"

After t "Contractor's account was briefly suspended" due to some automatic rule against selling bitcoin or something, "as he explained.

November 2018: Scammers steal $ 157,000 worth of crypto after hacking verified Twitter accounts

November 5, British news agency Telegraph reported that fraudsters stole 120,000 euros (around $ 157,000), after constituting Musk and promoting a false cryptocurrency giveaway on Twitter.

In particular, the hackers have broken into Twitter accounts of clothing retailer Matalan and Pathé UK, the British arm of the French filmmaker, and sent messages as the announced giveaway. Since both accounts were confirmed, the companions were more likely to take the message at face value.

Posten claimed that Musk left Tesla and gave away free Bitcoin via a typical form r Twitter crypto-related fraud: The supporters were encouraged to send a little bit of Bitcoin to a given wallet address and promised a much larger amount in return.

According to the Telegraph report, more than 300 people were exposed to fraud.

February 2019: Musk says that Bitcoin's structure is "quite brilliant", adding that there are also "some benefits for Ethereum".

On February 19, ARK Invest published a podcast with Musk, which made its stance on the cryptographic curve clearer, and – first, Time since 2014 – made some serious comments on the subject. To begin with, when the interviewer asked Musk to go off-topic and talk about cryptographic curves, he started laughing at it. "Crypto? Seriously? "He exclaimed.

Nevertheless, in response to a question about whether Bitcoin will be the only native cryptocurrency on the internet, Musk said:

" I think the Bitcoin structure was quite brilliant. It seems that there are also some benefits for Ethereum, and perhaps some of the others. "

Musk then stressed that" it would not be a good use of the Tesla resources to get involved in crypto "because his company is" trying to accelerate the assumption of sustainable energy. "Thus, he determines the high energy consumption of the crypt as one of its disadvantages:

" One of the declines to crypto is that it is computationally that it is quite energy intensive. So there must be some kind of limitations on the creation of crypto. But making the incremental bitcoin at this point is very energy intensive. "

Musk noted that he liked cryptographic curves for their ability to transfer value and bypass currency control:

" It bypasses currency control. Paper money goes away and crypto is a far better way to transfer value than pieces of paper. That is for sure. "


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