What you need to know
- In recent years, cryptocurrency has had a big influence on a number of industries.
- The benefits of it include the fact that it's not as tightly regulated by governments as other currencies.
- Elon Musk says crypto will persist regardless of government intervention.
At the 2021 Code Conference in Beverly Hills, California, many big players in the tech world showed up to give their thoughts on a variety of topics. One such individual was AMD CEO Lisa Su, who gave everyone a general estimate on when the great chip shortage would finally subside. Another noteworthy individual to show up at the conference was Elon Musk.
Musk was straightforward about his crypto predictions. He saw the currency type as having a role in the future, but nothing as absolutely earthshaking as some crypto speculators and diehards would claim.
"It is not possible to destroy crypto, but it is possible for governments to slow it down," he said. It's a line that could've been based on headlines from the past few weeks and months, such as the ones declaring that the U.S. government would be sanctioning facets of crypto activities to discourage ransomware attacks (or the news about China banning crypto outright). But, just as the government half of Musk's statement is true, so too is the fact that crypto isn't going away.
Just recently, AMC Theatres announced that you will be able to use crypto to pay for movie tickets and concessions by the end of 2021. And it's not the first company to make this sort of move.
The crypto era has begun. Now, the choice is to either learn how to mine crypto and pick the best GPUs for crypto mining, or cling to physical currency and hope it maintains a place in the new world order.
