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

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’ Forex, 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 explanation 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 greater transaction quantity functionality than bitcoin.

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

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In distinction, he mentioned: “Proper now, if you wish to do a Bitcoin transaction, the value of doing that transaction may be very excessive, so you 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 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 not too long ago introduced that his electrical automobile firm, Tesla, will begin accepting DOGE.

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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 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 possibly can’t synchronize because of the pace of sunshine, or not simply.”

He defined: “Mars is, at closest method, it’s 4 mild minutes away roughly, after which at furthest method, it’s roughly 20 light-minutes away, perhaps a bit extra. So you possibly can’t actually have one thing synchronizing in the event you’ve received a 20-minute pace of sunshine situation 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 most likely, appears seemingly. However it might be form of localized factor on Mars.

The Spacex boss was requested whether or not he’s Satoshi Nakamoto as some folks consider him to be. “I’m not,” he rapidly replied. “Would you inform us in the event you 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’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 answerable 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 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.

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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 programs, community results and the intersection between economics and cryptography.

Picture Credit: Shutterstock, Pixabay, Wiki Commons

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