DOGE can beat Bitcoin according to Elon Musk, as he once again tweeted about the meme coin’s future as we read more in our latest Dogecoin news today.
Musk wanted to speed up the block time and block size by 10x and to decrease the fees by 100x. Tesla and SpaceX CEO Elon Musk continues to make a stir on the market as he lastly compared Bitcoin to Dogecoin, saying that the meme coin will win against BTC if a major network change is implemented. Doge can beat bitcoin accoridng to him and he even declared himself as the Dogfather, tweeting:
“Ideally, Doge speeds up block time 10X, increases block size 10X & drops fee 100X. Then it wins hands down.”
SpaceX launching satellite Doge-1 to the moon next year
– Mission paid for in Doge
– 1st crypto in space
– 1st meme in space
To the mooooonnn!!https://t.co/xXfjGZVeUW
— Elon Musk (@elonmusk) May 9, 2021
He further clarified that when a Twitter user, Loshan, argued that the larger blocks and low fees that will leave the Dogecoin network quite vulnerable to attacks:
“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.”
Musk one of the original founders of PayPal long touted Dogecoin as the next big thing. Last week, he announced that his space exploration company, SpaceX will launch DOGE-1 as the first-ever commercial Lunar payload paid for Dogecoin that will be the 1st meme in space. Dogecoin developer Ross Nicoll said that Musk has been in touch with Dogecoin’s development team since 2019 and has already increased over the blockchain. Nicoll said that the team of four part-time developers decline funding from Musk and the DOGE original founders, Jackson Palmer and Billy Markus who have long abandoned the project.
10MB blocks every 6 seconds, with fees so low that anyone can spam attack the network with very little spent on fees?
— Loshan (@loshan1212) May 16, 2021
One of the reasons that Musk is plugging Dogecoin is that he believes it can become more environmentally friendly than BTC. Over the past week, Tesla discounted payments in BTC on environmental grounds that crashed the price of the coin and the crypto market at large. Musk’s suggestion for Dogecoin reform could not be news to Dogecoin developers after all. But the rest of us, it gives a glimpse into what Musk considered an ideal cryptocurrency.
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