The ever-evolving crypto ecosystem continues to deliver surprises with new developments daily within the ever-active Twitter community. The last 3 days have served up a bit of drama on Twitter following the comments of legendary author JK Rowling on Bitcoin and cryptocurrencies.
Rowlings tweeted earlier that ‘’I don’t understand bitcoin. Please explain to me’’ this led to a barrage of tweets on her timeline with different crypto enthusiasts proffering different explanations about the leading currencies.
One of the tweets that caught her attention was from Bitcoin.org official handle which summarized what Bitcoin was about by comparing the coin with the Gringot bank in her legendary Harry Potter books.
Rowlings responded by tweeting ‘’I don’t think I trust this’’
I don’t think I trust this. https://t.co/ziZzKg1aS0
— J.K. Rowling (@jk_rowling) May 15, 2020
Elon Musk Wades explains Bitcoin to Rowlings
Tech billionaire and crypto enthusiast Elon Musk also joined the discussion by explaining the reason while many are turning to Bitcoin. According to Musk, the massive currency issuance by Central banks across the world has made Bitcoin look solid by comparison.
Pretty much, although massive currency issuance by govt central banks is making Bitcoin Internet 👻 money look solid by comparison
— Elon Musk (@elonmusk) May 15, 2020
It should be recalled that several countries have printed a large number of currencies as a form of palliatives in response to the COVID-19 pandemic. Musk also revealed that he owned only 0.25btc to which Tron CEO Justin Sun joked that he thought Bitcoin was the currency on Mars.
This is not the first time that Musk would be trying to engage Rowlings to hold cryptocurrencies. In April of 2019, Musk caused a stir among the crypto community by making a cryptic tweet in which he mentioned Ethereum to Rowlings.
— Elon Musk (@elonmusk) April 30, 2019
The tweet caught the attention of Ethereum founder Vitalik Buterin who invited him to the Ethereum Devcon conference. Musk cheekily added what should we develop (unlike Bitcoin, Ethereum is more than a cryptocurrency; it’s a smart contract platform that allows developers to create decentralized apps) and Buterin subsequently replied with different ideas.
Rowling’s negativity towards Cryptocurrencies highlights the problems facing crypto adoption
Despite the different answers to her questions by the crypto community, JK Rowlings is still negative about the digital currency. Her plight is similar to that of mainstream stakeholders and influencers.
This brings into difficulty the job of creating awareness about the potentials of blockchain technology. There is still this misconception that the technology behind Bitcoin is shady due to the increasing number of scams involved with the cryptocurrency.
It is, therefore, the responsibility of all crypto stakeholders to provide quality information to those interested in understanding the massive potentials of this novel technology.