Bitcoin

Elon Musk and Joe Rogan discuss the problems of traditional currencies

In a recent interview with podcaster Joe Rogan, Elon Musk attacked inflation, a problem that Bitcoin solves.

Part of the current US population sees the economy as a gift basket that will continue to deliver important goodsAlthough the country is excluded from its regular work routine, Musk said to Rogan on May 7.

“However, the idea that checks can be sent worldwide and everything is fine is not true.”Musk said referring to the stimulus money the US government sent to citizens.

The government cannot logically maintain its money printing efforts

Elon Musk and Joe Rogan discuss the problems of traditional currencies
Elon Musk and Joe Rogan discuss the problems of traditional currencies

To correct the current financial change, the United States government removed its money printer covera $ 2 trillion stimulus package is at stake.

According to Musk, printing money without producing goods or services doesn’t work. “If you don’t do things, there are no things”he said. “You can’t legislate money and solve these things.”

Bitcoin fixes this

Built with a limited maximum of 21 million coins, Bitcoin does not allow inflation. The only inflation seen on Bitcoin is the mining premium, which is added to its current range from the ceiling.. If there is no consensus on the fork in the Bitcoin blockchain, this upper limit can never be raised.

However, according to a transcript of the chat, Musk and Rogan didn’t mention Bitcoin during the long two-hour interview.

Gold fanatic Peter Schiff also interviewed a Tweet on Musk’s comments. “Once foreign demand for dollars drops and we can’t import the things others do, there won’t be any more,” Schiff said, not to mention bitcoin as part of a possible solution.

Schiff has made a name for himself as an anti-Bitcoin personality. Musk supposedly only owns about 0.25 BTC.

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