Musk Says AI Could Make Money Obsolete — and Supercharge BTC
Elon Musk, the CEO of Tesla, thinks that as artificial intelligence and robotics get better, money may become less significant for managing work and production.
Musk said on a recent that if these technologies can meet all of our requirements in the future, the idea of money as a way to divide up resources or work may no longer exist. He used Iain Banks’ Culture series as an example of a civilization that doesn’t use money. He stressed that people may get what they need without money.
Energy as the “Real Money”
envisions a future where fiat currencies diminish; however contends that energy will continue to be essential for value platform. Musk says that energy could be the best way to judge how strong an economy is because it is based on the principles of physics, not politics.
He adds that BTC is in a unique position in this situation because its proof-of-work method directly connects digital value to the use of electricity and hardware in the actual world. This means that BTC’s worth comes from energy, not from money or policy like it did in the past.
Musk said that laws can’t control energy production, and he pointed out that the people who control efficient and plentiful energy supplies will gain genuine economic value. He says that in the future, making power could work as a new form of “currency.”
The Proof-of-Work Model for BTC
Musk said that securety and limited supply come from the energy and computing power needed to mine it through . As central banks and governments cannot manipulate electricity production, this model offers a degree of independence not viewn in fiat systems.
Supporters say that this quality might make BTC a long-lasting way to store value, especially in an economy powered by AI.
The energy intensity of BTC’s network is still a hot topic of controversy among policymakers and environmentalists. Critics are worried about emissions and grid pressure, while supporters say that mining can encourage the development of renewable energy and make the system run better.
The Change Doesn’t Happen Right Away
Musk adds that the decline of traditional money hinges on technology innovation that hasn’t happened yet, even though he views the future as bright. National currencies and fiat payment systems are still the most common ways to pay for things around the world.
BTC is not a full replacement for money; it is a marketable and a diverse way to do things than the traditional financial system. Musk didn’t say when or if a change to an energy-based value system may happen.
For now, the use of cryptocurrency continues to grow, but national currencies remain dominant in global commerce, savings, and wages.
