Elon Musk's Bitcoin Mention Sparks Debate and Predictions
Elon Musk's Bitcoin Mention Sparks Debate and Predictions
Elon Musk's recent tweet mentioning Bitcoin has sent ripples through the crypto community, with some predicting a significant price surge. Bitcoin historian Pete Rizzo suggests that Bitcoin could see a 50% increase, similar to the rise after Tesla's $1.5 billion purchase in 2021. However, Bitcoin's current price reflects a different trend, showing a decline despite Musk's mention.
XChat Features and Community Reaction
Musk introduced XChat, a new feature on his platform X, highlighting its "Bitcoin-style" encryption built with Rust. XChat offers disappearing messages, file sharing, and audio/video calls without phone numbers. While Rizzo noted this as Musk's first Bitcoin mention in three years, the community questioned this, pointing out previous references in interviews and podcasts. AI bot Grok confirmed multiple mentions, including discussions on Bitcoin's mathematical security.
Criticism Over Security Claims
Ian Miers, a computer science professor, criticized Musk's tweet, arguing that Bitcoin uses signatures, not encryption. He questioned the security implications for XChat, suggesting that "Bitcoin-style" and Rust are not indicative of a robust encryption scheme. This critique underscores concerns about the messaging app's security features.
The debate highlights the intersection of technology and cryptocurrency, with Musk's influence sparking both optimism and skepticism.
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