Tesla and Spacex CEO Elon Musk says dogecoin is “basically higher than the rest” he has seen whereas he criticizes bitcoin. He additionally mentioned the id of Bitcoin’s pseudonymous creator, Satoshi Nakamoto, and the official forex 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 id of Bitcoin’s pseudonymous creator, Satoshi Nakamoto, in an interview with Lex Fridman, revealed Tuesday.
Musk, who has lengthy been a supporter of the meme cryptocurrency dogecoin (DOGE), revealed:
A part of the explanation why I believe there’s some advantage to dogecoin, although it was clearly created as a joke, is that it truly does have a a lot greater transaction quantity functionality than bitcoin.
“The price of doing a transaction, the dogecoin charges are very low,” the Tesla government added.
In distinction, he stated: “Proper now, if you wish to do a Bitcoin transaction, the worth of doing that transaction may be very excessive, so you would not use it successfully for many issues, and nor might 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 stated that dogecoin is best than bitcoin for transactions. Throughout his “Individual of the Yr” interview with Time Journal, he famous that bitcoin is best as a retailer of worth whereas dogecoin is best fitted to funds. He additionally not too long ago introduced that his electrical automotive firm, Tesla, will begin accepting DOGE.
The Tesla CEO, who is usually recognized within the crypto neighborhood because the Dogefather, additional opined:
I’m not saying that it’s the perfect system for a forex however I believe it truly is simply basically higher than the rest I’ve seen, simply accidentally.
Musk was additionally requested if he’s nonetheless contemplating making dogecoin the official forex of Mars. He replied: “I believe Mars itself might want to have a special forex as a result of you possibly can’t synchronize as a result of velocity of sunshine, or not simply.”
He defined: “Mars is, at closest method, it’s 4 gentle minutes away roughly, after which at furthest method, it’s roughly 20 light-minutes away, perhaps a bit of extra. So you possibly can’t actually have one thing synchronizing if you happen to’ve obtained a 20-minute velocity of sunshine difficulty if it’s obtained 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 will be type of localized factor on Mars.
The Spacex boss was requested whether or not he’s Satoshi Nakamoto as some individuals imagine him to be. “I’m not,” he shortly replied. “Would you inform us if you happen to had been?” he was requested. “Sure,” he affirmed.
He proceeded to share his idea of who Satoshi Nakamoto, Bitcoin’s pseudonymous creator, is likely to be.
“You may take 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 accountable 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 accountable for the concepts behind Bitcoin than anybody else,” Musk concluded.
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