.elonmusk says 'Dogecoin is fundamentally better than anything else I’ve seen, just by accident'. $DOGE Bitcoin itsALLrisky
Musk compared Bitcoin and Doge, favoring the latter. He reminded Fridman that, compared to the world's flagship crypto, Dogecoin has a higher transaction volume and much lower transaction fee than BTC."You can't use it [Bitcoin] effectively for most things," he said, due to the very high transaction cost. And you cannot even scale that to a higher volume, he added.
The head of Tesla and SpaceX referred to Bitcoin's transaction speed as"comically low" in 2021 or if you fast-forward 10 years from now. However, back in 2008, the billionaire admitted - when the speed of internet connections was far worse than now - the small Bitcoin block size and long synchronization time did make sense.
However, according to him, if there is some dilution of a crypto asset that happens over time, odds are high that this currency would be used as a regular method of payment. There is more incentive for it to be used in this way. It was here that Musk called Doge"better than anything else I've seen, just by accident."
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