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 “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, 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 truly 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 govt 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 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 healthier than bitcoin for transactions. Throughout his “Individual of the Yr” interview with Time Journal, he famous that bitcoin is healthier as a retailer of worth whereas dogecoin is healthier fitted to funds. He additionally lately introduced that his electrical automotive firm, Tesla, will begin accepting DOGE.

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

I’m not saying that it’s the best system for a forex however I feel 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 feel Mars itself might want to have a unique forex as a result of you’ll be able to’t synchronize as a result of pace of sunshine, or not simply.”

He defined: “Mars is, at closest strategy, it’s 4 gentle minutes away roughly, after which at furthest strategy, it’s roughly 20 light-minutes away, possibly a little bit extra. So you’ll be able to’t actually have one thing synchronizing for those who’ve acquired a 20-minute pace of sunshine difficulty if it’s acquired 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 will be sort 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 rapidly replied. “Would you inform us for those who 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’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.

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