The Real Reason Elon Musk Feels Dogecoin’s Major Update Will Make DOGE Far Superior To Bitcoin, Ethereum

The Real Reason Elon Musk Feels Dogecoin’s Major Update Will Make DOGE Far Superior To Bitcoin, Ethereum
фото показано с : zycrypto.com

2021-7-10 22:58

Controversial Tesla/SpaceX CEO Elon Musk has once again made a compelling argument for his favorite meme-themed pet project, Dogecoin. 

Musk, the self-proclaimed Dogefather, today reacted to a tweet predicting that Dogecoin’s imminent upgrade would position DOGE to become one of the world’s most used currencies, agreeing that it will give the cryptocurrency an edge over Bitcoin and Ethereum.

Musk Tells Us Why DOGE Will Triumph Over BTC And ETH 

Responding to a tweet by Dogecoin influencer and YouTuber Matt Wallace earlier on July 9, Musk made a specific reference to scalability. He posited that both BTC and ETH have very slow and expensive base layers. Thus, they need multilayer transaction systems to work properly. The tech maven further explained:

“There is merit [in my opinion] to Doge maximizing base layer transaction rate and minimizing transaction cost with exchanges acting as the de facto secondary layer.”

Bitcoin enthusiasts are hoping that the layer 2 Lightning Network payment protocol and the recent Taproot upgrade will help resolve some of the dormant crypto scaling challenges. 

Furthermore, the world’s second-biggest crypto by market cap, Ethereum, is currently in the middle of a highly-anticipated upgrade that promises to make significant changes to the network’s transaction fee system that has long been an antagonistic subject because of the congestion on the blockchain that is home to a huge majority of decentralized finance (DeFi) and non-fungible token (NFT) projects —  two sectors that have gained much traction over the past year.

Responding, the crypto community took issue with Musk’s latest Doge tweet. Bitfinex and Tether CTO Paolo Ardoino, for instance, mockingly proposed that the business magnate should begin building rockets with “spit and paper” which are cheaper.

We need to start building rockets with spit and paper. Definitely cheaper and more lightweight. Well… security won't be the same but sure it's a viable trade-off. https://t.co/UPQlgusjxa

— Paolo Ardoino (@paoloardoino) July 9, 2021

Others like prominent Ethereum advocate Anthony Sassano joked: “Pack it up everyone —  Elon solved blockchain scalability.”

Elon Musk And Dogecoin: A Complicated Love Affair

The price of Dogecoin has surged parabolically this year, riding on Musk’s never-ending endorsements on Twitter. The Tesla boss proposed a Dogecoin upgrade in May that he claimed would inevitably scale the Shiba Inu-inspired cryptocurrency enough to beat Bitcoin “hands down”.

Though he called Dogecoin a “hustle” during his infamous SNL guest-hosting which was intended to bring the cryptocurrency to a bigger audience, Musk has promised to put a literal dogecoin on the literal moon with his SpaceX rocket company.

As ZyCrypto reported last month, the unconventional CEO announced his support for a proposal that would drastically change Dogecoin’s fee policy.

Despite his recent antics, Tesla still holds bitcoin on its balance sheet after splurging $1.5 billion earlier this year. Moreover, the Bitcoin and Ethereum prices were largely unmoved following Musk’s latest criticism of the two leading blockchains.

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Dogecoin (DOGE) на Currencies.ru

$ 0.1683 (+0.26%)
Объем 24H $3.156b
Изменеия 24h: 8.08 %, 7d: 1.65 %
Cегодня L: $0.1525 - H: $0.1683
Капитализация $24.688b Rank 8
Цена в час новости $ 0.2232 (-24.6%)

dogecoin musk doge elon upgrade position dogefather

Источник: zycrypto.com

dogecoin musk → Результатов: 126


Dogecoin Plaintiffs File New Motion Against Elon Musk After Leaked Letter

DOGE investors accused Elon Musk of insider trading in a class action lawsuit, also naming Telsa for Dogecoin price manipulation, costing investors billions of dollars.  The Dogecoin plaintiffs, represented by Evan Spencer of Evan Spencer Law, argue that Musk and his company manipulated the Dogecoin market to sell the token at a higher price. Quinn […]

2023-6-28 19:00


Фото:

Elon Musk Calls Dogecoin a Hustle and the Future of Currency That’s ‘Going to Take Over the World’ on SNL

Dogecoin has a wild ride this weekend starting with Elon Musk’s Saturday Night Live (SNL) and ending with Spacex saying it will launch DOGE-1 mission to the moon. Musk called dogecoin “a hustle” on the show but also said that it is “the future of currency” that’s “going to take over the world.” Dogecoin Is […]

2021-5-10 05:05


Фото:

Elon Musk ‘Resigns’ as Dogecoin CEO After Price Soars 30%

Dogecoin has become the unexpected new champion of the sudden cryptocurrency bull market which gripped the industry this week – thanks to Elon Musk. Musk Pets ‘Pretty Cool’ DOGE In a series of surprising yet distinctly familiar tweets, Musk, who has hinted at his alleged fondness of Dogecoin, said the meme-based cryptocurrency was his “favorite” and described it as “pretty cool.

2019-4-4 23:00


Илон Маск: Dogecoin может быть моей любимой криптовалютой. Он довольно крутой

Американский предприниматель и изобретатель Илон Маск вновь пишет о криптовалютах. На этот раз его внимания удостоился Dogecoin.   Dogecoin might be my fav cryptocurrency. It’s pretty cool. — Elon Musk (@elonmusk) April 2, 2019 Такой комментарий он оставил под организованным официальным аккаунтом Dogecoin в Twitter на 1 апреля голосованием, где пользователям предлагалось выбрать CEO криптовалюты.

2019-4-3 10:16


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