Tesla and Spacex CEO Elon Musk stated that when he criticized Bitcoin, Dogecoin was “fundamentally better than anything else”. He also discussed the identity of Satoshi Nakamoto, the creator of the pseudonym of Bitcoin, and the official currency of Mars.

Elon Musk discusses cryptocurrency, Dogecoin, Bitcoin, Mars currency and who Satoshi Nakamoto is

Elon Musk shared his views on cryptocurrency, Dogecoin, Bitcoin, and the identity of Satoshi Nakamoto, the anonymous creator of Bitcoin. interview With Lex Fridman, published on Tuesday.

For a long time, Musk supporter The meme cryptocurrency Dogecoin (DOGE) revealed:

I think part of the reason Dogecoin has some advantages, although it was obviously created as a joke, it actually does have a higher transaction volume capability than Bitcoin.

“The cost of doing transactions, Dogecoin fees are very low,” Tesla executives added.

In contrast, he said: “Now, if you want to make a Bitcoin transaction, the price of the transaction is very high, so you can’t effectively use it for most things, or even scale to large volumes.” After this interview was published, many people reminded Musk of the Lightning Network on Twitter.

This is not the first time Musk has said that Dogecoin is superior to Bitcoin in terms of transactions.In an interview with Time Magazine’s “Person of the Year”, he pointed out that Bitcoin is a better Store of value Dogecoin is more suitable for payment.He also recently announced that his electric car company Tesla will start accept dog.

The CEO of Tesla, sometimes referred to as Dogefather in the crypto community, further believes:

I am not saying that it is an ideal system for currency, but I think it is actually better than any other system I have seen, just by accident.

Musk was also asked if he is still considering using Dogecoin as the official currency of Mars. He replied: “I think Mars itself needs a different currency, because the speed of light cannot be synchronized, or it is not easy to synchronize.”

He explained: “Mars is about 4 light minutes away at the closest distance, and then about 20 light minutes at the farthest distance, maybe a little more. So if you have a 20-minute speed of light problem, if It has a 1-minute blockchain and you can’t really sync something. It won’t sync properly.” The Tesla boss continued:

I don’t know if Mars will have cryptocurrency as a thing, but it is very possible, it seems very possible. But this will be a localized thing on Mars.

The boss of Spacex was asked if he is Satoshi Nakamoto Some people believe he is. “I am not,” he answered quickly. “If you were, would you tell us?” he was asked. “Yes,” he affirmed.

He continued to share his theories about who Satoshi Nakamoto, the anonymous creator of Bitcoin, might be.

“You can look at the evolution of ideas before Bitcoin launches and see who wrote these ideas,” he began. While emphasizing, “Obviously I don’t know who created Bitcoin for practical purposes,” he elaborated:

The evolution of ideas is very clear about this, and it seems that Nick Sabo may be more responsible for the evolution of these ideas than anyone else.

“He claims that he is not Satoshi Nakamoto, but I am not sure if he is Satoshi Nakamoto, but he seems to be more responsible for the ideas behind Bitcoin than anyone else,” Musk concluded.

What do you think of Elon Musk’s comments? Please let us know in the comments section below.

Kevin Helms

As a student of Austrian economics, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects, and the intersection of economics and cryptography.