Tesla and SpaceX CEO Elon Musk expressed his ideas on cryptocurrencies akin to Bitcoin, Dogecoin and talked concerning the identification of Bitcoin’s pseudonymous creator, Satoshi Nakamoto, in an interview with Lex Fridman.
Musk has been a long-time supporter of the memecoin Dogecoin. He said, “A part of the explanation why I believe there may be some benefit to dogecoin, although it was clearly created as a joke, is that it truly does have a a lot larger transaction quantity functionality than bitcoin.” “The price of doing a transaction, the dogecoin charges are very low,” he added.
Quite the opposite, Musk as soon as once more said, “Proper now, if you wish to do a Bitcoin transaction, the worth of doing that transaction could be very excessive, so you would not use it successfully for many issues, and nor may it even scale to a excessive quantity.” On figuring out concerning the assertion, many netizens took to Twitter to remind Musk of the Lightning community.
Nevertheless, this isn’t the primary time Musk has been in assist of Dogecoin. Throughout his “Particular person of the 12 months” interview with Time Journal, Musk said that Bitcoin is a greater possibility as a retailer of worth whereas Dogecoin is fitted to funds. Earlier, this yr, Musk additionally introduced that Tesla Motors might be accepting DOGE as a fee possibility.
He opined, “I’m not saying that it’s the best system for a forex however I believe it truly is simply basically higher than anything I’ve seen, simply by chance.”
When requested about whether or not he’s pondering of constructing Dogecoin the official forex of Mars, he said, “I believe Mars itself might want to have a special forex as a result of you’ll be able to’t synchronize as a result of velocity of sunshine, or not simply.”
Musk was additional requested that whether or not he’s Satoshi Nakamoto as many individuals imagine that he’s. Nevertheless, he rapidly replied, “I’m not”. He was requested if he would inform the individuals he was so, he affirmed with a “sure.”
He shared the idea of Satoshi Nakamoto, Bitcoin’s pseudonymous creator. He defined, “You may have a look at the evolution of concepts earlier than the launch of Bitcoin and see who wrote about these concepts. Clearly, I don’t know who created bitcoin for sensible functions.” “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 another accountable for the concepts behind Bitcoin than anybody else,” he added.