"Speaking on a recent podcast with Nikhil Kamath, Musk emphasized that Bitcoin's value is tied to real-world energy expenditure, highlighting a distinction between digital assets and traditional fiat currencies. 'Energy is the true currency,' Musk said. 'This is why I said Bitcoin is based on energy. You can't legislate energy. You can't just, you know... pass a law and suddenly have a lot of energy.'"
"Looking further ahead, Musk proposed that advancements in artificial intelligence and robotics could render money obsolete. 'In a future where anyone can have anything, I think that you no longer need money as a database for labor allocation,' he said, citing Iain M. Banks' post-scarcity Culture series as a blueprint for societies where super-intelligent machines manage resources without monetary systems."
Bitcoin is presented as a physics-based currency grounded in real-world energy expenditure and computational effort. Proof-of-work requires substantial computational power and electricity to secure the network, creating built-in scarcity and relative independence from political influence because energy cannot be printed like fiat money. The Kardashev scale measures civilizations by energy consumption, paralleling Bitcoin's emphasis on a society's capacity to generate and manage energy as a basis for value. Advances in artificial intelligence and robotics could enable abundant production and automated resource management, potentially eliminating the need for money as a database for labor allocation in a post-scarcity future.
Read at Bitcoin Magazine
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