Dec 31, 2021 13:41 UTC
Dec 31, 2021 at 13:43 UTC
Elon Musk shared his thoughts on cryptocurrency, dogecoin, bitcoin, and therefore the identity of Bitcoin’s onymous creator, Satoshi Nakamoto, in associate degree interview with Lex Fridman, revealed Tuesday.
Musk, who has long been a supporter of the acculturation cryptocurrency dogecoin (DOGE), revealed:
“Part of the explanation why i feel there’s some advantage to dogecoin, even if it absolutely was clearly created as a joke, is that it really will have a way higher group action volume capability than bitcoin.”
“The price of doing a group action, the dogecoin fees area unit terribly low,” the Tesla govt accessorial.
In distinction, he said: “Right now, if you would like to try and do a Bitcoin group action, the value of doing that group action is extremely high, thus you may not use it effectively for many things, and nor may it even scale to a high volume.” Following the publication of this interview, many of us took to Twitter to prompt Musk of the Lightning network.
This is not the primary time Musk aforementioned that dogecoin is healthier than bitcoin for transactions. throughout his “Person of the Year” interview with Time Magazine, he noted that bitcoin is healthier as a store useful whereas dogecoin is healthier fitted to payments. He conjointly recently declared that his motorcar company, Tesla, can begin acceptive magistrate.
The Tesla business executive, who is usually celebrated within the crypto community because the Dogefather, any opined:
I’m not speech that it’s the best system for a currency however i feel it really is simply basically higher than the rest I’ve seen, simply out of the blue.
Musk was conjointly asked if he’s still considering creating dogecoin the official currency of Mars. He replied: “I assume Mars itself can ought to have a special currency as a result of you can’t synchronize because of the speed of sunshine, or not simply.”
He explained: “Mars is, at nighest approach, it’s four lightweight minutes away roughly, and so at furthest approach, it’s roughly twenty light-minutes away, perhaps a bit additional. thus you can’t very have one thing synchronizing if you’ve got a 20-minute speed of sunshine issue if it’s got a one-minute blockchain. It’s not attending to synchronize properly.” The Tesla boss continued:
I don’t recognize if Mars would have a cryptocurrency as a issue, however in all probability, looks doubtless. however it’d be reasonably localized issue on Mars.
The Spacex boss was asked whether or not he’s Satoshi Nakamoto as some folks believe him to be. “I’m not,” he quickly replied. “Would you tell North American nation if you were?” he was asked. “Yes,” he thoroughbred.
He proceeded to share his theory of who Satoshi Nakamoto, Bitcoin’s onymous creator, might be.
“You will scrutinize the evolution of ideas before the launch of Bitcoin and see United Nations agency wrote regarding those ideas,” he began. whereas accenting, “Obviously I don’t recognize United Nations agency created bitcoin for sensible functions,” he detailed:
The evolution of ideas is pretty clear for that, and it looks like Nick Szabo is maybe quite anyone else accountable for the evolution of these ideas.
“He claims to not be Nakamoto however I’m unsure that’s neither here nor there however he looks to be the an added accountable for the ideas behind Bitcoin than anyone else,” Musk over.