The futuristic vision outlined by Tesla CEO, Elon Musk, highlights that Artificial Intelligence (AI) and robotics will transform the economy to the point where traditional money will “disappear as a concept.” Musk explained to Nikhil Kamath in an interview that once machines can satisfy virtually all human needs, the necessity to allocate labor through wages and prices will sharply decline. In this new world, Musk insists that energy will be the true currency, as its production cannot be legislated and is anchored in physics.
Musk directly linked his framework of Bitcoin as an energy currency to its Proof-of-Work mechanism. He added that Bitcoin’s security, by requiring miners to expend electricity and computational power, ties its monetary properties to real physical resources. In his view, Bitcoin represents an early example of how an energy-anchored system might operate, creating digital scarcity that cannot be easily manipulated by central banks. However, Musk emphasized that this post-scarcity future is still far off and depends on significant technological breakthroughs.
Despite his futuristic vision, Musk expects fiat currencies to remain the backbone of the global economy for wages and commerce. Yet, he views Bitcoin as an alternative monetary network that already experiments with the principles of a future energy-anchored economy. The controversy over Bitcoin’s energy consumption persists, but Musk maintains that, ultimately, efficient energy management will define economic power in an AI-dominated world.
Source: https://www.youtube.com/watch?v=Rni7Fz7208c
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