Tesla CEO Elon Musk Praises Dogecoin, Criticizes Bitcoin, Guesses Id of Satoshi Nakamoto – Featured Bitcoin Information

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Tesla and Spacex CEO Elon Musk says dogecoin is “basically higher than anything” he has seen whereas he criticizes bitcoin. He additionally mentioned the identification of Bitcoin’s pseudonymous creator, Satoshi Nakamoto, and the official foreign money of Mars.

Elon Musk Discusses Crypto, Dogecoin, Bitcoin, Mars’ Foreign money, and Who Satoshi Nakamoto Is

Elon Musk shared his ideas on cryptocurrency, dogecoin, bitcoin, and the identification of Bitcoin’s pseudonymous creator, Satoshi Nakamoto, in an interview with Lex Fridman, printed Tuesday.

Musk, who has lengthy been a supporter of the meme cryptocurrency dogecoin (DOGE), revealed:

A part of the explanation why I feel there may be some advantage to dogecoin, although it was clearly created as a joke, is that it really does have a a lot increased transaction quantity functionality than bitcoin.

“The price of doing a transaction, the dogecoin charges are very low,” the Tesla government added.

In distinction, he mentioned: “Proper now, if you wish to do a Bitcoin transaction, the worth of doing that transaction could be very excessive, so you possibly can not use it successfully for many issues, and nor may it even scale to a excessive quantity.” Following the publication of this interview, many individuals took to Twitter to remind Musk of the Lightning community.

This isn’t the primary time Musk mentioned that dogecoin is best than bitcoin for transactions. Throughout his “Particular person of the Yr” interview with Time Journal, he famous that bitcoin is best as a store of value whereas dogecoin is best fitted to funds. He additionally lately introduced that his electrical automotive firm, Tesla, will begin accepting DOGE.

The Tesla CEO, who is typically recognized within the crypto neighborhood because the Dogefather, additional opined:

I’m not saying that it’s the best system for a foreign money however I feel it really is simply basically higher than anything I’ve seen, simply by chance.

Musk was additionally requested if he’s nonetheless contemplating making dogecoin the official foreign money of Mars. He replied: “I feel Mars itself might want to have a distinct foreign money as a result of you may’t synchronize because of the velocity of sunshine, or not simply.”

He defined: “Mars is, at closest strategy, it’s 4 mild minutes away roughly, after which at furthest strategy, it’s roughly 20 light-minutes away, perhaps a bit of extra. So you may’t actually have one thing synchronizing in case you’ve received a 20-minute velocity of sunshine subject if it’s received a one-minute blockchain. It’s not going to synchronize correctly.” The Tesla boss continued:

I don’t know if Mars would have a cryptocurrency as a factor, however in all probability, appears seemingly. However it might be form of localized factor on Mars.

The Spacex boss was requested whether or not he’s Satoshi Nakamoto as some people believe him to be. “I’m not,” he shortly replied. “Would you inform us in case you have been?” he was requested. “Sure,” he affirmed.

He proceeded to share his idea of who Satoshi Nakamoto, Bitcoin’s pseudonymous creator, may be.

“You’ll be able to have a look at the evolution of concepts earlier than the launch of Bitcoin and see who wrote about these concepts,” he started. Whereas emphasizing, “Clearly I don’t know who created bitcoin for sensible functions,” he detailed:

The evolution of concepts is fairly clear for that, and it appears as if Nick Szabo might be greater than anybody else liable for the evolution of these concepts.

“He claims to not be Nakamoto however I’m unsure that’s neither right here nor there however he appears to be the yet one more liable for the concepts behind Bitcoin than anybody else,” Musk concluded.

What do you concentrate on Elon Musk’s feedback? Tell us within the feedback part beneath.

Kevin Helms

A scholar of Austrian Economics, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His pursuits lie in Bitcoin safety, open-source programs, community results and the intersection between economics and cryptography.




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