Elon Musk Talks Bitcoin, A crypto city, and millennials on crypto over stocks.

you almost gives his thoughts on cryptocurrency an entire city only accepts crypto and will millenials be the generation that stops investing in the stock market let's start the show welcome back to crypto global news please make sure you hit the subscribe and also notifications button so you don't miss an episode I'm Edward and we're going to be bringing you the news from the world of crypto now three times a week on Sundays Tuesdays and Thursdays if you're in Los Angeles each episode will be live at 2 p.m. your time if you're in New York it's a 5 p.m. start time for you and if you're across the Atlantic over in London the show will launch at 10 p.m. for you enjoy today's episode in a recent interview Elon Musk said that Bitcoin and Tesla simply don't mix he said that Bitcoin structure is brilliant but he doesn't think it would be a good use of Tesla's resources to get involved in crypto most made note of bitcoins fundamental value propositions as a decentralized currency capable of undermining traditional financial institutions and fiat currencies however he also said that the market leading cryptocurrency is perhaps too energy intensive he also went on to say that paper money is going away and crypto is a much better value for transfer of value and pieces of paper but it has its pros and cons it is a very energy-intensive to create Bitcoin at this point it is interesting that musk is laying out the benefits and also shortcomings of Bitcoin let's see if these statements affect how others approach cryptocurrency and Bitcoin in the months to come another incident of hacking and cryptocurrency exchange has come out of Turkey this time the highlight is the fact that the hacker used PU VG the popular online multiplayer game communicate the incident led to a nationwide raid leading to the arrest of central suspects the hacker managed to get away with about two point four seven million dollars worth of cryptocurrency in the police report the hacker managed to get bitcoins aetherium and also ripple a police operation afterward led to the recovery of a chunk of the money that was stolen which was immediately returned to the company in question the nationwide raid led to 24 suspects from different parts of Turkey being questioned quick reaction is important as digital assets can be moved quite fast if action is not taken immediately digital assets could be lost forever users of iOS mobile devices can now use the capital letter surf be diverse with two vertical lines which is of course the symbol for Bitcoin in September of 2018 the tech giant Google lifted the ban had imposed four months earlier on cryptocurrency advertising with the major ban lifted does this suggest that Google might be warm into cryptocurrency it's a small step but certainly a positive one the symbol representing the Bitcoin currency unit is already part of the Unicode standard version 10 it has been in use since June of 2017 the unicode character assigned to Bitcoin 20 bf Microsoft products allow users to insert the cryptocurrency symbol by typing 20 bf+ off in addition Microsoft now accepts payments in Bitcoin for media content also on its Windows and Xbox stores Libertad is a libertarian city in northern Norway it has reportedly dumped fiat currencies and cash in their place it is instituted its own cryptocurrency called city coin city coin is secure and innovative cryptocurrency based on city chain a smart city platform that enables the design implementation and use of next-generation services for smart cities and their inhabitants as the first cryptocurrency to be officially adopted by a smart city city coin is the only medium of exchange within Libertad it will be used for the payment of city services and worker wages and for funding civic projects inhabitants can pay for anything ranging from haircuts to a dozen local eggs an artisan loaf of bread all using city marking a milestone for a real world use of blockchain technology over a hundred land plots have already been sold within the liver staad and more will be available for purchase in the near future using City if this is successful on this small scale could we be looking at a much larger adoption by other governments in the near future a new study has confirmed that Millennials are the largest supporters of cryptocurrency in overwhelming fashion according to the data compiled by investment platform eToro 43% of the millennial online traders have more confidence in the crypto markets than the traditional stock market with Wall Street banks predicting a greater than 50% chance of recession within the next several years it comes as no surprise that young investors are feeling a way of stocks and securities particularly in light of 2008 s market collapse the Millennial investor confidence in cryptocurrency follows what has been an overwhelmingly bare market for the industry with most coin prices down 80 to 90 percent however the prediction of Bitcoin exchange traded funds or EFT is becoming a reality in 2019 there seems to be a growing hope for institutional investment in the industry a presence most young traders prefer of the Millennials polled who currently trade cryptocurrency 93% said they would invest more into digital assets if traditional financial institutions credit an option for their Changez in addition 71% of the Millennials who do not currently invest our trade and cryptocurrency stated that they would be willing to do so if offered the option by traditional brokerages a telling point for where the sway of the industry actually lies this is a big deal not just for cryptocurrency but for all assets trade the world over if the next generation of investors thinks more highly of cryptocurrency than traditional stock markets this could be a huge clue about what the future holds for investments globally many thanks for watching today's video if you have any questions on this particular video or cryptocurrency more generally just drop us a line in the comments below for crypto global news I'm Edward until next time you tickity

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