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

Tesla and Spacex CEO Elon Musk says dogecoin is “essentially 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 forex of Mars.

Elon Musk Discusses Crypto, Dogecoin, Bitcoin, Mars’ Forex, 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, 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 may be some benefit to dogecoin, though 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 could possibly 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 12 months” interview with Time Journal, he famous that bitcoin is best as a store of value whereas dogecoin is best fitted to funds. He additionally just lately introduced that his electrical automotive firm, Tesla, will begin accepting DOGE.

The Tesla CEO, who is usually identified within the crypto group because the Dogefather, additional opined:

I’m not saying that it’s the perfect system for a forex however I believe it really is simply essentially 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 believe Mars itself might want to have a unique forex as a result of you’ll be able to’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, possibly just a little extra. So you’ll be able to’t actually have one thing synchronizing in the event you’ve bought a 20-minute velocity of sunshine problem if it’s bought 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 most likely, appears doubtless. However it could 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 in the event you have been?” he was requested. “Sure,” he affirmed.

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

“You’ll be able to 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 another accountable 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 scholar of Austrian Economics, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His pursuits lie in Bitcoin safety, open-source methods, community results and the intersection between economics and cryptography.

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