Tesla CEO Elon Musk has shared what he believes to be crucial dogecoin enhancements. He additionally clarified that he doesn’t have something to do with the Dogecoin Basis and isn’t investing within the shiba inu (SHIB) token. Musk confirmed that he’s solely holding three cryptocurrencies.
Elon Musk on Dogecoin Enhancements, Shiba Inu Token
Tesla and Spacex CEO Elon Musk made a number of tweets about cryptocurrency, bitcoin, dogecoin, and the shiba inu token Sunday.
Concerning Dogecoin’s enhancements, he was requested whether or not he had any current interactions with the Doge improvement staff. Whereas admitting that he had not interacted with them currently, 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 as if the only answer 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 must be yet one more blockchain that hosts NFTs or different tokens or no matter.” Musk replied with a “hundred factors” image.
Moreover, Musk responded to a different Doge supporter who requested: “Do you suppose if Dogecoin accomplishes the objectives you set forth right here then it may very well be extra sensible and environment friendly than one thing just like the Lightning Community as a medium of trade?”
The Tesla government answered: “Presumably. 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 staff Dallas Mavericks, Mark Cuban, that “The neighborhood for doge is the strongest in terms of utilizing it as a medium of trade.”
Musk additionally clarified Sunday that he doesn’t have something to do with the Dogecoin Basis 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 impartial 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 Basis relaunched in August. Its web site lists Jared Birchall as certainly one of its 4 board advisors, describing him as a “authorized & monetary advisor” to Musk. Different 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.”
Moreover 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.
As a substitute of responding about every coin, Musk confirmed that he only owned bitcoin, ether, and dogecoin. “Out of curiosity, I acquired some ASCII hash strings known as ‘Bitcoin, Ethereum & Doge.’ That’s it,” he affirmed. “As I’ve stated 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 stated that his corporations, Spacex and Tesla, solely owned bitcoin. The electrical automotive firm launched its Q3 earnings report this week exhibiting $1.26 billion in BTC.
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