{"id":42564,"date":"2021-05-16T16:58:21","date_gmt":"2021-05-16T13:58:21","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=42564"},"modified":"2025-08-30T23:45:36","modified_gmt":"2025-08-30T20:45:36","slug":"elon-musk-dogecoin-could-win-hands-down-against-bitcoin","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/elon-musk-dogecoin-could-win-hands-down-against-bitcoin\/","title":{"rendered":"Elon Musk: Dogecoin Could &#8216;Win Hands Down&#8217; Against Bitcoin"},"content":{"rendered":"<p>The founder of Tesla and SpaceX, Elon Musk, outlined what needs to be improved in Dogecoin for the meme cryptocurrency to surpass Bitcoin and become global money.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Ideally, Doge speeds up block time 10X, increases block size 10X &#038; drops fee 100X. Then it wins hands down.<\/p>\n<p>\u2014 Elon Musk (@elonmusk) <a href=\"https:\/\/twitter.com\/elonmusk\/status\/1393738154889338884?ref_src=twsrc%5Etfw\">May 16, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In response to the tweet, in which a user argued in favour of Dogecoin and called it &#8216;a people\u2019s cryptocurrency&#8217;, Musk wrote:<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8216;In an ideal world, Dogecoin increases the speed of block production and block size by 10x, and reduces fees by 100x. Then it wins hands down.&#8217;<\/p>\n<\/blockquote>\n<p>Litecoin developer going by the nickname Loshan noted that issuing six-second blocks of 10 MB with such low fees would make a spam attack on the network very affordable.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8216;For those who are not good at mathematics. A 100-fold higher transaction volume with a 100-fold decrease in fees means that the total amount of fees collected remains the same. To become the currency of Earth, low fees and high volume are required&#8217;, Musk retorted.<\/p>\n<\/blockquote>\n<p>Paolo Ardoino, CTO of Tether and Bitfinex, backed Loshan, confirming that fees play a role in guarding against spam.<\/p>\n<p>The tweet by Musk about the desired metrics for Dogecoin drew a wave of sarcasm from crypto community members.<\/p>\n<p>CEO Blockstream Adam Back said that the Tesla chief does not understand how this works:<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8216;That sounds like someone coming to SpaceX with ideas for a cube-shaped rocket powered by water.&#8217;<\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">\ud83e\udd26\ud83c\udffb\u200d\u2642\ufe0f\ud83e\udd26\ud83c\udffb\u200d\u2642\ufe0f\ud83e\udd26\ud83c\udffb\u200d\u2642\ufe0f\ud83e\udd26\ud83c\udffb\u200d\u2642\ufe0f\ud83e\udd26\ud83c\udffb\u200d\u2642\ufe0f\ud83e\udd26\ud83c\udffb\u200d\u2642\ufe0f\ud83e\udd26\ud83c\udffb\u200d\u2642\ufe0f\ud83e\udd26\ud83c\udffb\u200d\u2642\ufe0f\ud83e\udd26\ud83c\udffb\u200d\u2642\ufe0f\ud83e\udd26\ud83c\udffb\u200d\u2642\ufe0f<\/p>\n<p>He might know something about rockets, but thank the good Lord Almighty he isn&#8217;t designing our network protocols. <a href=\"https:\/\/t.co\/CMmKJDBqQf\">https:\/\/t.co\/CMmKJDBqQf<\/a><\/p>\n<p>\u2014 Guy Swann #TAPROOT \ud83d\udfe9 (@TheCryptoconomy) <a href=\"https:\/\/twitter.com\/TheCryptoconomy\/status\/1393744061513801731?ref_src=twsrc%5Etfw\">May 16, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Host of the Swan Bitcoin podcast, Guy Swann, noted:<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8216;Musk may know something about rockets, but, thank the good Lord Almighty, he isn&#8217;t designing our network protocols&#8217;.<\/p>\n<\/blockquote>\n<p>He spoke of &#8216;a desperate hope&#8217; that Musk&#8217;s statements were simply his usual trolling.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Ideally, Tesla batteries last 10x longer, recharge 10x faster &#038; drops costs 100x. Then it wins hands down. <a href=\"https:\/\/t.co\/LUZyCGqrDI\">https:\/\/t.co\/LUZyCGqrDI<\/a><\/p>\n<p>\u2014 Hayden Adams \ud83e\udd84 (@haydenzadams) <a href=\"https:\/\/twitter.com\/haydenzadams\/status\/1393745108986650626?ref_src=twsrc%5Etfw\">May 16, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8216;In an ideal world, Tesla batteries last 10x longer, recharge 10x faster, and cost 100x less. Then they win hands down&#8217;, said Hayden Adams, Ethereum developer and Uniswap founder.<\/p>\n<\/blockquote>\n<p>Earlier, Musk conducted a poll among users about whether Tesla <a href=\"https:\/\/u1f987.com\/en\/news\/elon-musk-weighs-up-selling-tesla-for-dogecoin\">accept payments in Dogecoin<\/a>. The company <a href=\"https:\/\/u1f987.com\/en\/news\/tesla-halts-bitcoin-car-sales-and-roils-the-market\">announced a pause in selling electric cars for Bitcoin<\/a> due to concerns about the environmental footprint of mining the first cryptocurrency.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The founder of Tesla and SpaceX, Elon Musk, outlined what needs to be improved in Dogecoin for the meme cryptocurrency to surpass Bitcoin and become global money.<\/p>\n","protected":false},"author":1,"featured_media":42565,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[99,1217],"class_list":["post-42564","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-dogecoin","tag-elon-musk"],"aioseo_notices":[],"amp_enabled":true,"views":"19","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/42564","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=42564"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/42564\/revisions"}],"predecessor-version":[{"id":42566,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/42564\/revisions\/42566"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/42565"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=42564"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=42564"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=42564"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}