Elon’s BTC and CBDC Confusion: ‘Money Is Digital Already’

Musk was questioned on the quick adoption of CBDCs.
This Twitter space featured Elon`s mother and militant moderated opinionated normies.
He brought out absurd theories that indicated that CBDCs would be identical to the current digital fiat money.

On December 4th, Elon Musk was questioned about his concerns about the quick global adoption of central bank digital currencies (CBDCs). Ben Stiller, Elon Musk’s mother, and several normies with militantly moderate opinions participated in this on Twitter space.

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He stayed according to his self-applied description of being “fanatically moderate”. He declined to immediately respond to any of the truly crucial queries on the live broadcast. Instead, Musk advanced some absurd theories that seemed to indicate that CBDCs would be identical to the current digital fiat money.

He also disregarded the capability of retail CBDCs to serve as directly issued programmable money from careless governments and central banks. Musk diverted the conversation by focusing on the outdated technology of today’s digital version of fiat. This provided an easy laugh from the all-too-eager fans listening.

While openly acknowledging that “you can starve people to death” with draconian control of monetary systems earlier in the Twitter Space, he nevertheless said:

“I think they’re conflating a few things. First of all, almost all money is digital already,” noting:

“Whether banks create their own cryptocurrencies I think is somewhat irrelevant. People will use the cryptocurrencies that they think will accrue value over time and not use the ones that don’t.”

Of course, it’s troubling that a purported computing genius might overlook the crucial distinction. This is between real cryptocurrencies, such as bitcoin cash or Monero, and CBDCs. Specifically, the fact that the latter makes use of governmental violence.

Kim Dotcom was the only one who seemed to challenge Musk’s claims throughout Twitter Space. He however couldn’t disguise the fact that there was a lot of rear-end licking going on throughout.

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Godfrey Mwirigi

Godfrey Mwirigi is an enthusiastic crypto writer with an interest in Bitcoin, blockchain, and technical analysis. With a focus on daily market analysis, his research helps traders and investors alike. His particular interest in digital wallets and blockchain aids his audience in their day-to-day endeavors.