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

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 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 rationale why I feel there’s some advantage to dogecoin, though 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 value of doing that transaction could be very excessive, so you could possibly 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 Yr” interview with Time Journal, he famous that bitcoin is healthier as a store of value whereas dogecoin is healthier suited 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 group because the Dogefather, additional opined:

I’m not saying that it’s the perfect system for a forex 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 forex of Mars. He replied: “I feel Mars itself might want to have a special forex as a result of you’ll be able to’t synchronize because of the pace 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 extra. So you’ll be able to’t actually have one thing synchronizing should you’ve received a 20-minute pace 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 possible. 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 rapidly replied. “Would you inform us should you had been?” he was requested. “Sure,” he affirmed.

He proceeded to share his concept of who Satoshi Nakamoto, Bitcoin’s pseudonymous creator, could 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 answerable 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 another answerable for the concepts behind Bitcoin than anybody else,” Musk concluded.

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

Kevin Helms

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

Picture Credit: Shutterstock, Pixabay, Wiki Commons

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