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Elon Musk Tweets about Cryptocurrency

Elon Musk Tweets about Cryptocurrency

October 24, 2018 5:54 am,

Elon Musk gas inadvertently is drawn attention to a cryptocurrency scam epidemic that has engulfed Twitter in the recent months, even when his account had been locked after tweeting about bitcoin. For almost a year now, the serially successful entrepreneur has been the target of cryptocurrency scammers on Twitter, who have impersonated his profile picture and account name in order to trick his followers to send them bitcoin, ethereum, and other cryptocurrencies.

Mr. Musk previously spoke about the scam epidemic, tweeting in July “I want to know who is running the Ether scambots.” This got a response from Ether co-founder Vitalik Buterin who pleaded with Twitter CEO, Jack Dorsey to help us. Twitter attempted to crack down on the bots, suspending more than 1 million fake and suspicious accounts each day in recent months. This may be the main reason why Mr. Musk’s account as locked when it posted a picture with the words “Wanna buy some bitcoin?” The tweet elicited around 12000 likes, 4000 retweets and more than 700 replies, many from the prominent people within the cryptocurrency community. The CEO of the popular exchange Binance, tweeted “Lol, its spreading. I will buy a Tesla if you accept a crypto.”


Its open source technology is front and center in a new partnership between Visa and IBM. Visa says it will utilize the IBM Blockchain Platform, built on Ethereum, for its new blockchain powered finance platform called B2B Connect.


The National Bank of Kuwait is reportedly getting ready to test its first transaction using Ripple’s cross-border payment solution xCurrent. The bank which is one of the biggest in the Middle East and will likely give the test a shot in the coming weeks.

Wirex brings crypto debit cards to the US. The company gives users the ability to spend their crypto using Visa and MasterCard. Users will be able to buy, sell, exchange and deposit Bitcoin, Ether, XRP, Litecoin into their Wirex wallets. They can convert their crypto to USD, load it into the prepaid card and spend it anywhere the card is accepted.


It has just released a statement covering the latest progress on the platform, from technical achievements to community activities.

The main intention behind this initiative as to design and radicalize a currency which wouldn’t be under the jurisdiction of any form of government or a specific institution. Even though BTC has been left behind by various cryptocurrencies in terms of attributes like transaction fees and confirmation time, it has still managed to remain as the largest cryptocurrency by market cap for a long time. This might be due to the precise reason that it is absolutely decentralized and most popular one in the domain.

Technological innovation

It is self-understood that the BTC and other cryptocurrencies, we don’t need to go to the banks or ATM for the financial transactions. It is self-evident that blockchain based projects, it assists the rural masses to avail loans, thus playing a very crucial role in empowering the backward community as they are always denied loans.