Elon to 10X DOGE
This is not the first time Elon picks the losing tech
Elon is choosing $DOGE because Dogecoin is better than in many fundamental ways has faster transaction speeds, lower fees, and less environmental impact than is affordable for regular folks because of its high supply “People’s Crypto” -
Ideally, Doge speeds up block time 10X, increases block size 10X & drops fee 100X. Then it wins hands down.
The world needs a decentralized, secure, deflationary store of value like much more than it needs the more centralized, less secure, inflationary medium of exchange that you describe above.
Why not just make a crypto from scratch that does everything you want technically and has a lot of dev support and doesn’t have high concentration of ownership at least initially?
The richest guy in the world bought billions of dollars in the best performing asset in the world for the last decade but is now spending time trying to make an internet joke become more technically efficient. Unreal.
What should the base “currency of Earth” be? Controlled by corporations and oligarchs and optimized for centralized speed, control, and social engineering? Or carefully run by the people and optimized for neutrality, openness, non-discrimination, decentralization, and freedom?
Elon Musk @elonmusk@loshan1212 @itsALLrisky For those bad at math 👆, 100X higher transaction volume with 100X lower fees means total fees earned stay same. Low fees & high volume are needed to become currency of Earth.
this is like the highest form of “i’m new to bitcoin and i’m here to fix it”
Elon Musk @elonmusk@itsALLrisky Ideally, Doge speeds up block time 10X, increases block size 10X & drops fee 100X. Then it wins hands down.
This is not the first time Elon picks the losing tech.
Elon Musk @elonmuskWorking with Doge devs to improve system transaction efficiency. Potentially promising.
Bonus Tweet from 2014
Step 1: invent a currency to solve another currency’s problem Step 2: make the problem worse way fucking worse Step 3: profit