Elon Musk: in the battle of fiat and cryptocurrencies, I choose cryptocurrencies

Tesla and SpaceX CEO Elon Musk made his position clear this morning in a pair of tweets: he supports cryptocurrency, not fiat currencies.

An interesting dialog took place when the richest man in the world tweeted: «Any sufficiently advanced magic is indistinguishable from technology.» This was a reference to a famous quote by science fiction writer Arthur C. Clarke: «Any sufficiently advanced technology is indistinguishable from magic.»

In response, followers asked what Musk thought about people who «were offended by his attitude towards cryptocurrencies» — Musk had previously made skeptical comments about cryptocurrencies in general, including the concept of Proof-of-work.

In response to this, Musk said with diplomatic dignity: «The real battle is now unfolding between fiat money and cryptocurrencies. In general, I support cryptocurrencies.»