Tesla CEO Elon Musk has shared what he believes to be a very powerful dogecoin enhancements. He additionally clarified that he doesn’t have something to do with the Dogecoin Foundation and isn’t investing in the shiba inu (SHIB) token. Musk confirmed that he’s solely holding three cryptocurrencies.
Elon Musk on Dogecoin Improvements, Shiba Inu Token
Tesla and Spacex CEO Elon Musk made a number of tweets about cryptocurrency, bitcoin, dogecoin, and the shiba inu token Sunday.
Regarding Dogecoin’s enhancements, he was requested whether or not he had any latest interactions with the Doge growth crew. While admitting that he had not interacted with them recently, Musk shared:
What issues imo is reducing charges, lowering block time & rising block measurement. A single layer community with exchanges as de facto layer 2 looks like the only resolution for a medium of trade.
Dogecoin co-creator Billy Markus chimed in and responded to Musk’s Doge enchancment tweet. He confused that in his opinion, “dogecoin being quick, scalable, and cheap to ship round is all it must be,” including that “it doesn’t should be yet one more blockchain that hosts NFTs or different tokens or no matter.” Musk replied with a “hundred factors” image.
Furthermore, Musk responded to a different Doge supporter who requested: “Do you assume if Dogecoin accomplishes the objectives you place forth right here then it might be extra sensible and environment friendly than one thing just like the Lightning Network as a medium of trade?”
The Tesla government answered: “Possibly. Bitcoin was conceived at a time of comparatively low bandwidth & excessive latency. If each proceed to enhance considerably, we are going to attain a degree when no second layer is required.”
In August, Musk agreed with the billionaire proprietor of the NBA crew Dallas Mavericks, Mark Cuban, that “The neighborhood for doge is the strongest in the case of utilizing it as a medium of trade.”
Musk additionally clarified Sunday that he doesn’t have something to do with the Dogecoin Foundation in response to a touch upon Twitter stating: “Jared Birchall represents Elon Musk, however as all advisors he has no direct voting rights. This ensures the muse stays unbiased whereas profiting from the experience of shibes like Elon.” The Spacex CEO wrote:
Neither Jared, nor me, nor anybody I do know has something to do with this basis.
The Dogecoin Foundation relaunched in August. Its web site lists Jared Birchall as one among its 4 board advisors, describing him as a “authorized & monetary advisor” to Musk. Other board advisors embrace Markus and Ethereum’s Vitalik Buterin.
Musk was requested how a lot shiba inu (SHIB) he’s holding. The Tesla technoking merely replied, “None.”
Besides SHIB, Musk was requested whether or not he had holdings in a number of different cryptocurrencies, together with FLOKI, the token named after his shiba inu pet.
Instead of responding about every coin, Musk confirmed that he solely owned bitcoin, ether, and dogecoin. “Out of curiosity, I acquired some ASCII hash strings referred to as ‘Bitcoin, Ethereum & Doge.’ That’s it,” he affirmed. “As I’ve mentioned earlier than, don’t wager the farm on crypto. True worth is constructing merchandise & offering providers to your fellow human beings, not cash in any type.”
Musk beforehand mentioned that his firms, Spacex and Tesla, solely owned bitcoin. The electrical automobile firm launched its Q3 earnings report this week exhibiting $1.26 billion in BTC.
What do you concentrate on Elon Musk’s tweets? Let us know in the feedback part under.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational functions solely. It isn’t a direct provide or solicitation of a proposal to purchase or promote, or a suggestion or endorsement of any merchandise, providers, or firms. Bitcoin.com doesn’t present funding, tax, authorized, or accounting recommendation. Neither the corporate nor the writer is accountable, immediately or not directly, for any harm or loss triggered or alleged to be brought on by or in reference to the usage of or reliance on any content material, items or providers talked about in this text.