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Tesla CEO Elon Musk has shared what he believes to be an important 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 latest interactions with the Doge improvement crew. Whereas admitting that he had not interacted with them currently, Musk shared:
What issues imo is reducing charges, lowering block time & rising block dimension. A single layer community with exchanges as de facto layer 2 looks like the best resolution for a medium of alternate.
Dogecoin co-creator Billy Markus chimed in and responded to Musk’s Doge enchancment tweet. He harassed 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 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 assume if Dogecoin accomplishes the targets you place 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 alternate?”
The Tesla govt answered: “Probably. Bitcoin was conceived at a time of comparatively low bandwidth & excessive latency. If each proceed to enhance considerably, we are going to attain some extent when no second layer is required.”
In August, Musk agreed with the billionaire proprietor of the NBA crew Dallas Mavericks, Mark Cuban, that “The group for doge is the strongest relating to utilizing it as a medium of alternate.”
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 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 Basis relaunched in August. Its web site lists Jared Birchall as one in all 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.”
Apart from 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 an alternative of responding about every coin, Musk confirmed that he solely 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 mentioned earlier than, don’t wager the farm on crypto. True worth is constructing merchandise & offering companies to your fellow human beings, not cash in any kind.”
Musk beforehand mentioned that his corporations, Spacex and Tesla, solely owned bitcoin. The electrical automobile firm launched its Q3 earnings report this week displaying $1.26 billion in BTC.
What do you concentrate on Elon Musk’s tweets? Tell us within the feedback part under.
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