Elon bullish about Crypto, not about POW.

Originally posted in CryptoCurrency, but removed coz not enough KARMA!

So we all saw Elon's tweet today. He's a business man and he'll always have his own interests. That not that hard to understand.

What he mainly said is: He thinks crypto is the future, but Bitcoin's proof of work is literally too much work. I think moving forward, pow currencies like Bitcoin needs to answer these questions: 1) Is there really no better alternative than POW? An alternative that reduces both power and equipment costs. 2) Can coins (Bitcoin) really be able to move from POW, with mining companies already invested billions in setup? 3) If they remain POW, can it compete with non POW coins in the future?

In my opinion, POW is not the only way to make DeFi work. And in the future, the coin who does it correctly might get the crown, not necessary the coin that had the head start.