gg-yolk was going on viewers of the tube my name is Dima and welcome to the channel that is as wild crazy and sometimes as psychedelic as a McDonald's commercial in the early seventies follow Ronald McDonald to the land of amplify trees and don't be surprised if you meet Big Mac and BG you know how we trip through time with Samurai crypto the intro for today's episode was kind of crazy wouldn't you say so let's keep that craziness going with some research into a topic not a single person has on their mind Elon Musk Bitcoin crypto and his future plans yes if you didn't know the musk is a bit coin and crypto fan so before we get into his rumored plans let's first see exactly how his love for crypto evolved over time let us begin
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almost six years ago in 
March of 2014 right after the 2013 crypto bubble anybody who was involved or invested or was researching Bitcoin and blockchain back then could be considered an innovator in the adoption curve while on that day in 2014 a Noel on Twitter tweeted at Elon and asked what his current stance was on cryptocurrency and he replied with a very telling answer well now that Satoshi Nakamoto has been discovered I guess it is case closed with a smiley face so during that time back in 2014 there was actually a manhunt for Satoshi Nakamoto Newsweek put out this magazine the face behind Bitcoin where they falsely accused a reclusive old man who unfortunately shared the same last name Nakamoto durian to be exact bad journalism by Newsweek but he launched tweet about it proved he was at least following Bitcoin news all the way back then later in the year October to be exact Elon was on stage at Vanity Fair's new establishment summit he was asked on stage about PayPal and Bitcoin let's hear what he had to say now he mentioned the startup of PayPal which is a great innovation that happened in sort of how we pay for things that seems to me an area in which it hasn't been as much subsequent innovation other than Bitcoin as it should be in other words quickly transferring money especially to people you don't know or whatever is to me maybe I'm wrong far more difficult than it seemed like it should be are you somewhat disappointed with the way PayPal then proceeded or you disappointed with the lack of innovation in the digital currency in environment yeah 
if people has definitely I mean it hasn't moved much since we're from when we when it was sort of bought by eBay the the long-term vision that I had for PayPal were sort of in sort of finance was to - well it sounds but strangely due to convert the financial system from a series of heterogeneous insecure databases to one database or well not one database but maybe there'd be like a few more the money is just a number in a database that's what it is and it's primarily an information mechanism for labor allocation and the current databases are not very efficient like they're you know there were these old legacy mainframes that don't talk to each other very well have core security and only do their and do batch processing once an Elan envisioned PayPal to basically be blockchain technology instead of these heterogeneous financial silos one or a few interoperable secure databases let's continue are you glad PayPal is being spun off it's probably the right move and what would you do with it well I think I think I converted into more of a full-service financial institution so you just you'd want to do all the things that a consumer you want to have like all the financial services that somebody needs in one place seamlessly integrated together and easy to use and I really really care about the consumer I think a lot of banks don't seem to care that much about the customer so I think there's no opportunity to be like a really good Bank effectively but but but much more than what people think of it do you think Bitcoin will be disruptive in that way and we were now it's a speculative currency will it be something that will be what normal consumers would use and will disrupt the banking industry my opinion but coin is that I mean I think what coin is probably a good thing but it's it's essentially it's made I think the thing will be Haven this is probably good quoted or Never but the it it's it's I think it's primarily going to be a means of doing illegal transactions [Laughter] but that's not necessarily entirely bad because what we in our side you know some things should be maybe shouldn't be illegal so but the combination of Silk Road and Bitcoin will save us well it will be 
useful for legal and illegal transactions otherwise would have no value as a use of for legal transaction because you have to have a legal to illegal bridge I don't own any Bitcoin kind of interesting stumbling over his words when asked about Bitcoin kind of freezing but then giving us insight that he knows what Bitcoin was used for back then dark net markets like the Silk Road aka the illegal transactions bitcoins major use case back then but then he says legal stuff to a legal to a legal bridge and then made sure everybody knew he didn't own any bitcoins well that tweet and interview it would follow old Elon because fast forward to 2017 and the bull run madness right in the middle of the parabolic run a person tries to get more hype going by posting this blog post Elon Musk probably invented Bitcoin accusing him of being Satoshi Nakamoto in that blog post it actually got some traction because the person who wrote it Sahil Gupta he was a former Tesla employee in the post a site how Elon codes in C++ of which Satoshi did too of some of the Bitcoin white paper sounds like Elon and casual use and forum posts of the phrase bloody hard then in that post citing the tweet about Satoshi being found with a smiley face what was interesting was his tweet came out one week after Satoshi returned to the p2p forums for his last time to write I am NOT Dorian Nakamoto well Elon decided to shut down those rumors when the blog post was retweeted Elon replied not true a friend sent me part of a BTC a few years but I don't know where it is after the bubble pop those rumors died down of course as Bitcoin and crypto fell out of the public's minds and grace but the scammers they kept the heat on who remembers that Elon Musk given away Bitcoin scams that go on to this day well a guy asked Elon about all the spam accounts in his name in February of 2018 in Elon gives us some crumbs he replies not sure I let at Jack no but it's still going I literally own zero cryptocurrency part from 0.25 BTC that a friend sent me many years ago remember 2014 he made it clear he doesn't own Bitcoin in just 5 months earlier he said he lost it or didn't know where the Bitcoin he owned was so he must have found it he knows the amount well unlike others in a bear market who forget about the technology private keys their holdings and more until the prices return Elon actually started digging further just a few months after his latest tweet he was spotted at the South by Southwest Conference holding a book and the topic crypto currencies so in his free time Elon was digging further things were quiet regarding Elon and cryptocurrency throughout the rest of 2018 but things started heat up in the depth of the crypto bear market when in October of 2018 Elon tweets wanna buy some Bitcoin with a picture of an anime girl and the Bitcoin logo well Twitter then showed its ugly side and ended up suspending Ellen's account as it got mass reported for spam even though Elon is friends with Twitter CEO Jack Dorsey kind of funny I thought well just a couple months later Elon jumps on a podcast and he explains what happened with that tweet and gives us deeper insight into his views on Bitcoin crypto and even aetherium let's listen in now I have a little bit of a different question for the it's a little bit off-topic but it's in the news or it's becoming more in the news so it's about crypto crypto assets crypto you know uh-huh crypto seriously Chris seriously seriously very seriously I think you and Jack Dorsey have chatted a bit recently about this right Bitcoin the theorem scammers were so rampant on on Twitter that I said it just join in fast ss had like one point one buy some Bitcoin my account got suspended because like some automatic rule that would if you try to sell Bitcoin or something it's a little different from crypto currencies although given your history in the payments ecosystem it would be very interesting to know if you agree with Jack and there is going to be one native crypto currency when it comes to the internet he thinks it's Bitcoin it's interesting have some friends mine that are could really involved in crypto I mean I think like the Brit coin structure is quite brilliant yeah that seems like the Samaritan theorem as well and there may be some of the others but you know I'm not sure it's like I'm not sure that it would be a good use of to has the resources to get involved in crypto I mean really just try to accelerate the events of sustainable energy and I mean I think actually one of the downsides of crypto is that it computationally it's like quite energy intensive so like that to be some kind of constraints on the creation of crypto so but it's very energy intensive to creates like the incremental Bitcoin at this point yeah but it's it by the same time there were 1.3 trillion dollars worth of transactions in Bitcoin and we don't see it here because it's not for pizza or coke its business-to-business ever quickest
business in Africa where it is prohibitively expensive to convert from one nation's currency to another you have to go through the dollar that I mean it really is very important to its money over IP for them it's free transmission of money and that's really important to opening up the and you know yeah it bypasses currency controls yes yeah yes yeah yes it's it's well yeah paper money is going away yes and crypto is a far better way to transfer value than pieces of paper that's for sure without a doubt that has its pros and cons just to clarify Tesla's not gonna start selling Bitcoin so he admits he has friends highly involved with crypto humans his Bitcoin and aetherium by name but says it might not be wise for Tesla to get involved because of how energy intensive it is to create a Bitcoin well conned s decided to tweet out about that podcast interview highlighting how Elon thinks it's better than paper money Elon replies to their tweet that said I still only 0.25 BTC which a friend sent me several years ago don't have any crypto holdings oh really Elon while a few months went by in 2019 by the foolish month of April Elon on crypto we're in the news once again dogecoin had a pool on April Fool's Day about who their new CEO should be and Elon was the unanimous winner yuan found that quite funny because he took to Twitter the next day first tweeting the shiba inu mascot with a siggy and the words dogecoin rules no e and z just like how Ice Cube liked his NWA same day he tweets that dogecoin might be his favourite cryptocurrency it's pretty cool hmm so how can you not own something but have a favourite and no it's pretty cool I mean have a fraid for it you've had to have used at least I've coupled to decide on why it is your favourite wouldn't you think well that same day he changed his title on Twitter to dogecoin CEO well because of all this Doge had a crazy pump and I think Elon realized he shouldn't be doing that because by the next day he resigned and changed his title from CEO to former CEO and tweeted dogecoin value may very well it didn't take him long to get back into the crypto hive by the middle of April in response to a crypto Twitter account crypto kobane said at Elon Musk you are not Satoshi haha Sumida ouch well he replied suspiciously cryptocurrency is my safe word then just a couple weeks later he tweets one word aetherium then quickly followed by JK well Vitalik then decided to invite elan to the Devcon in october to which he replied stop giving away free s reference seeing the giveaway scam which infected Vitalik too so the month of April was intense for crypto and Elan and to me it proves he was getting more and more involved personally and business-wise and then he kept quiet for the rest of 2019 not a peep from him regarding cryptocurrency until the clock turned to the New Year ten days in and we get a tweet Bitcoin is not my safe word with an asterisk over not you know what an asterisk 
means correction to a previous mistake so is Bitcoin not a safe word or is it well ten days later on January 20th only ten days ago we got some actual words spoken from elan which is kind of a long clip but trust me you want to hear it in its entirety let's listen in now there's definitely been kind of resurgence and interest as we get into kind of cryptographic you know money Bitcoin and all that like interest in this idea you know and it's interesting like software has an e in the banking industry yet software's eaten a lot of industries there's some that it just hasn't in banking still there yeah stripes stripes eating them slowly but they do a pretty good job but they that they're the better banks are in trouble if it's not stripers be somebody else and you love code but you don't seem to be as bullish on Bitcoin do you have any could you break down like why because you're talking about this big database that's more secure for faster transactions it seems like Bitcoin is hitting at least some of those I'm neither here nor there on Bitcoin yeah yeah what do you think when you read like Satoshi's wiped it for the first time we like no it's pretty interesting it was pretty clever it's just like the things yeah this noise gets like the crypto people angry but at the creepy there there are transactions that are not within the balance of the law and those are in there obviously many of those in different countries and normally cash is used for these transactions but but cat but in order for illegal transactions to occur those the cash must also be used for legal transactions you need an illegal to legal bridge that's where cryptic comes in so is it kind of the darknet stuff it can't be entirely talk because otherwise how do you buy normal stuff and cash these days is used just much rarer it's hard to take increasing WS cash some places you can't use cash at all yeah so there's a there's a forcing function for transactions that are illegal quasi legal and in some cases legal but it's gotta have some it's got to be both legal and illegal that doesn't count otherwise otherwise you simply it can't just be transactions within an illegal economy because how do you buy like you know food and a house or something you know some you go
you must have a legal t illegal bridge so we're a secret eyes respectively is a replacement for cash but not as a replacement for as a primary no not as I do not secretive being the primary database when asked about Bitcoin and how it serves some of his vision elan replies he is neither here nor there and then once again goes into that legal and illegal bridge you mentioned all the way back in 2014 this is six years later and he is still quarreling over the same issues in his mind feels that crypto and I think he's meaning in a purely Bitcoin sense isn't the single database but a replacement for cash I wonder if he's thinking the single database might be aetherium and that is where we are today those were his last words for guarding crypto it's obvious he is involved and has been in some forms since 2014 he's an innovator Satoshi probably not but he has a bigger chance of being Satoshi than fake Toshi Craig right Satoshi did not want his identity known and would definitely deny deny deny but we can speculate on what Ilan has up his sleeve regarding Bitcoin blockchain and crypto now you know Chico loves his rabbit hole dives and connecting the dots others might not see well November 2019 two firms merged to open a 100 Acre Bitcoin mining farm in Texas from the article winstone u.s. inc a louisiana based developer of high-speed data centers in northern Bitcoin AG a germany-based Bitcoin mining firm will be deploying the largest mining operation in the world with the capacity of one gigawatt now the size and area of this farm and the power of it are highly interesting because just after this was announced in a reply to someone posting about Bill Gates criticism of solar on Twitter Elon said he's deaf wrong solar power is a Giga watt per square km all you need is a hundred by a hundred mile patch in a deserted corner of Arizona Texas or Utah or anywhere to more than power the entire USA this analysis go through calculations with this link but mentioning Texas a similar size of that farm and one gigawatt power hmm and according to this Bloomberg article on the merger of the two firms northern Bitcoin AG based in Frankfurt started in 2018 as a sustainable Bitcoin miner and is recording rapid growth thanks to strong global distribution of Bitcoin and its blockchain the company among other things operates a mining site based on renewable energy sources in No away so this new mining farm is going to be powered by renewable energy I guarantee it which you can confirm further by going to northern AG's website hundred percent renewable then going to investor relations look at the stock price sense of merger and announcement mooning could Elan be providing the solar technology through his panels or roof tiles I think this would be an amazing way to demonstrate the power of technology and how it can not only power a new monetary system but also the world I bet we will be finding out a lot on this soon Cheers I'll see you next time
