Harry Potter author JK Rowling has actually ended up being flooded with bitcoin insight and cryptocurrency descriptions when she tweeted asking somebody to explain to her what bitcoin was. Tesla CEO Elon Musk was amongst those attempting to explain bitcoin to Rowling. He thinks that bitcoin is “strong” compared to federal governments’ fiat cash.
JK Rowling Wants to Understand Bitcoin
British author J.K. Rowling, renowned for composing the Harry Potter book series, tweeted on Friday: “I put on’t comprehend bitcoin. Please explain it to me.” Her question, which had actually been retweeted about 2,400 times and liked about 9,400 times at the time of this writing, has actually drawn lots of actions from the crypto market. Rowling’s Harry Potter series has actually offered more than 500 million copies and was adjusted into a movie franchise.
Comments instantly flooded the Twitter thread after Rowling tweeted as crypto lovers took this special chance to explain bitcoin and cryptocurrency to the popular author and her 14.6 million fans. Some individuals supplied their own descriptions while others connected to popular work, books, or short articles online. Several individuals even personalized videos to explain bitcoin and its advantages to her.
Among responders to Rowling’s demand was Ethereum creator Vitalik Buterin. He explained: “It’s a digital currency. There’s ~18m systems of it. It’s not backed by anything, it’s simply important due to the fact that it is, like antiques … There’s a network of computer systems (which anybody can sign up with) that keeps a decentralized international stand out spreadsheet of the number of coins everyone has.” Noting that “People discover it intriguing due to the fact that there is no main authority that manages this network, so there’s no single group of individuals that can simply go and provide more systems to their buddies or control its guidelines for political factors,” Buterin elaborated:
Basically international digital payments, plus the shop of worth homes of gold, all with 21st century cryptographic tech to keep the entire thing running securely.
The Twitter represent Gemini, the New York-based cryptocurrency exchange established by the Winklevoss twins, tweeted: “Contrary to common belief bitcoin is not ‘magic’ cash.” There was also a conversation of what bitcoin repairs and Bitcoin designer Jimmy Song briefly asserted:
Money is broken. Bitcoin is the repair.
Song consisted of a link to “The Little Bitcoin Book: Why Bitcoin Matters for Your Freedom, Finances, and Future” on Amazon. Some individuals saw Rowling’s demand as a chance to promote their work, such as The Bitcoin Standard’s author, Saifedean Ammous, who informed Rowling that he would be “Happy to mail you a copy of my book JK.”
Tron creator Justin Sun rapidly provided 1 BTC to Rowling: “I can send you 1 bitcoin. Seeing is thinking … Just picture a magic coin (bitcoin) Dumbledore put on’t comprehend (like Warren Buffett) however Harry Potter is amazed about it.” Sun and a little group of individuals in the crypto market just recently had lunch with the Berkshire Hathaway CEO after winning it at a charity for $4.57 million. The Tron creator also talented Buffett 1 BTC however the billionaire passed it onto a charity. Sun was also just recently reported to have actually gotten a $2 million grant from the U.S. federal government’s Paycheck Protection Program, which belongs to the coronavirus stimulus bundle that President Donald Trump signed into law in March.
Some other examples of the actions Rowling got consist of “Bitcoin resembles fire insurance coverage you’d buy for your house however rather of your house on fire, it’s financial & federal government systems all over the world” and “Imagine that something exists which doesn’t in fact exist. That’s Bitcoin.” Some described bitcoin as “Digital cash that cannot be damaged. Doesn’t need Banks to send it. Bitcoin has a limited supply, for that reason is exempt to inflation like $/£” and “Imagine cash resembles alcohol. Everyday a growing number of is being printed so it continuously waters down the alcohol. Bitcoin resembles the purest type of alcohol that cannot ever be diluted. You can enjoy the same taste 5, 10, or 100 years down the line.” One Twitter user wrote:
Bitcoin is designed so that it eliminates the need for trust. It’s backed by advanced math, you won’t understand.
JK Rowling Still Confused About Bitcoin, Elon Musk Explained Bitcoin Is ‘Solid’
After many people attempted to explain bitcoin to Rowling, 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. Things like this are white noise to me,” Rowling admitted. “I cannot and will never understand Bitcoin, but I love you for thinking that I can or will.”
Among those who tried to explain the concept of bitcoin and cryptocurrency to Rowling was Elon Musk. The Tesla and Spacex CEO composed, “Massive currency issuance by govt central banks is making Bitcoin Internet money look solid by comparison.” He added, “I still only own 0.25 bitcoins btw.” Musk recently criticized the U.S. government’s stimulus relief plans and also came under fire himself when he said the Tesla stock price was “too high,” which immediately sent the price downward.
Paxful CEO Ray Youssef chimed in. He wrote: “It is true Ms. Rowling bitcoin doesn’t add value to your life. It may however add value to those around you who help you with services. So many of them send money back home and bitcoin used for p2p can save them so much time and money.”
Some people believe that Rowling was just upset that she did not get into bitcoin while its price was lower. Ivan on Tech speculated: “Maybe JK Rowling is just jealous that she didn’t buy bitcoin early enough and missed out on massive gains … Now she is trying to spread FUD to bring back the price.”
Rowling later admitted: “This started as a joke, but now I’m afraid I’ll never be able to log in to Twitter again without someone getting angry I don’t own bitcoin. One day you’ll see a wizened old woman in the street, trying to trade a Harry Potter book for a potato. Be kind. She did try to comprehend.” She noted that she is “just about able to grasp a barter system. Talk of collectibles, tokenomics and blockchains and my brain just takes a walk.” The famous author opined:
I’m sure cryptocurrencies are fascinating. I’ve genuinely tried to grasp the very detailed information I’ve been sent tonight (people close to me understand it & have tried to explain it when I’m stone cold sober), but I’m afraid this is a total blind spot to me.
Does JK Rowling Own Any Bitcoin Right Now?
After several hours of tweetstorm in response to the Harry Potter author’s quest to understand bitcoin, fake JK Rowling Twitter accounts started to actively participate in the discussion.
One tweet from an account impersonating Rowling reads, “Ok Ok Ok. You guys win. I just bought my first bitcoin.” This tweet has since been deleted but not before it was seen by many individuals, including Rowling herself who acknowledged, “a fake JK Rowling account has made a purchase of bitcoin.”
While most people just ignored the fake account, Coinbase CEO Brian Armstrong replied to it seriously. “Welcome to crypto,” Armstrong wrote. “Grab a Coinbase account when you’re ready to use that bitcoin (not just hold it), and get into any of the many other cryptos out there.” Rowling confirmed on Saturday morning:
In case I haven’t effectively demonstrated my ignorance between last night & this morning, I don’t own bitcoin.
Marcus Swanepoel, CEO of cryptocurrency exchange Luno, pointed out that “this is a good reminder for us all on how much work there is still to do to educate on bitcoin … People can criticize JK Rowling all they like but 1. she is making a genuine effort to comprehend and 2. is a good proxy for the general population.”
A number of people in the crypto space have created bitcoin explainer videos for Rowling. Girl Gone Crypto, for example, made a Harry Potter-themed video specifically for Rowling called “Muggle’s Guide to Bitcoin.” Ethereum co-founder and creator of Cardano Charles Hoskinson made a Youtube video entitled “What is Bitcoin for JK Rowling” and urged others to make a similar effort to explain the idea of cryptocurrency for those who might be interested in learning more. Bitscoins.net also has a wide range of educational resources for anyone looking to learn about bitcoin and bitcoin cash.
Whether JK Rowling decides to buy bitcoin or not, the crypto community has viewed her quest to comprehend bitcoin as a great awareness drive for bitcoin and other cryptocurrencies. At the really least, she has tweeted multiple times about bitcoin to her 14.6 million Twitter followers.
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