Elon Musk explains Bitcoin to JK Rowling on Twitter

18 May 2020

Bitcoin Harry Potter author JK Rowling has received thousands of positive comments regarding Bitcoin and cryptocurrency after she asked if one of her 14.6 million followers could explain to her what Bitcoin was. 

Tesla CEO Elon Musk was among those who explained Bitcoin to the billionaire author. He said that Bitcoin is “solid” compared to centralised fiat currency.

Another high-profile explainer was Ethereum founder Vitalik Buterin. He noted: “It’s a digital currency. There’s ~18m units of it. It’s not backed by anything, it’s just valuable because it is, like collectibles … There’s a network of computers (which anyone can join) that maintains a decentralized global excel spreadsheet of how many coins each person has.” 

He also noted that: “People find it interesting because there is no central authority that controls this network, so there’s no single group of people that can just go and issue more units to their friends or manipulate its rules for political reasons.

He added: “Basically global digital payments, plus the store of value properties of gold, all with 21st century cryptographic tech to keep the whole thing running safely.”

Ms Rowling responded saying that she was still confused. “God bless every single one of you now earnestly explaining Bitcoin to me as though I’ll grasp it if you break it down properly.”

Bitcoin.com reports: “Whether JK Rowling decides to buy Bitcoin or not, the crypto community has viewed her quest to understand Bitcoin as a great awareness drive for Bitcoin and other cryptocurrencies. At the very least, she has tweeted multiple times about Bitcoin to her 14.6 million Twitter followers.”