Tesla CEO Elon Musk Praises Dogecoin, Criticizes Bitcoin, Guesses Identification of Satoshi Nakamoto

Tesla and Spacex CEO Elon Musk says dogecoin is “essentially higher than the rest” 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

Tesla and Spacex CEO Elon Musk says dogecoin is “essentially higher than the rest” 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 rationale 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 greater transaction quantity functionality than bitcoin.

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

In distinction, he mentioned: “Proper now, if you wish to do a Bitcoin transaction, the worth of doing that transaction may be very excessive, so you possibly can 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 mentioned that dogecoin is healthier than bitcoin for transactions. Throughout his “Individual of the 12 months” interview with Time Journal, he famous that bitcoin is healthier as a retailer of worth whereas dogecoin is healthier fitted to funds. He additionally just lately introduced that his electrical automobile firm, Tesla, will begin accepting DOGE.

The Tesla CEO, who is typically recognized within the crypto group 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 essentially higher than the rest 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 unique foreign money 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, possibly somewhat extra. So you possibly can’t actually have one thing synchronizing when you’ve received a 20-minute velocity of sunshine concern 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 doubtless. However it could be sort of localized factor on Mars.

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

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

“You possibly can 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 accountable for the evolution of these concepts.

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

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