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Elon Musk explains cryptocurrency to JK Rowling

Elon Musk explains cryptocurrency to JK Rowling

Although the topic of cryptocurrencies is rather popular nowadays, it still remains puzzling for some Internet users. Thus, JK Rowling, the author of the Harry Potter book series, was honest to admit on Twitter that she was clueless about what bitcoin was. The famous writer wanted to know what bitcoin was and how it was functioning. Thousands of crypto enthusiasts, including Vitalik Buterin and Elon Musk, rushed to explain the concept of cryptocurrency to the writer. According to Ethereum founder Vitalik Buterin, Bitcoin is not backed by anything and, therefore, it is not a reliable asset. He recommended that JK Rowling should pay attention to his currency instead. He also said that bitcoin was a kind of collectibles. He added that the crypto market could be compared to a network of computers that anyone could join. This network contains something like “a decentralized global excel spreadsheet of how many coins each person has,” Buterin explained. Reacting to the numerous posts on Twitter, the British writer replied that she was still confused about the intricacy of the blockchain technology. The main principles of the global digital chain as well as the risks associated with mining remained a total blind spot to her. Among those who tried to explain the idea of cryptocurrency to Rowling was Elon Musk. He owns 0.25 of BTC. The Tesla and SpaceX CEO thinks that bitcoin and other digital assets are a reliable means of payment on the network. He mentioned that virtual currency was more solid when compared to fiat money issued massively by central banks. Unlike traditional currencies, bitcoin is a decentralized digital asset which does not depend on any regulator. JK Rowling seemed to be satisfied with this explanation. 


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