Elon To Go All In On Dogecoin?
Elon To Go All In On Dogecoin – As The Fallout With Bitcoin Community Continues
Since Tesla discontinued Bitcoin payments citing environmental concerns over Bitcoin mining, it is fair to say the Bitcoin community and Elon Musk have not seen eye to eye.
Since then numerous threads from the Bitcoin community have criticized Elon Musk and he’s gone on to show support for Dogecoin more heavily. Even promising to support further development on the meme Cryptocurrency:
“Working with Doge devs to improve system transaction efficiency. Potentially promising.”
A recent thread from @PeterMcCormack appears to have led to Elon wanting to double down and promote Dogecoin over Bitcoin even more. With a promise (or threat) from Elon to go all in on Dogecoin.
Obnoxious threads like this make me want to go all in on Doge— Elon Musk (@elonmusk) May 16, 2021
A new point of contention appears to be over how centralized Dogecoin is vs a dencentralized Bitcoin. Elon however responded back:
“Bitcoin is actually highly centralized, with supermajority controlled by handful of big mining (aka hashing) companies. A single coal mine in Xinjiang flooded, almost killing miners, and Bitcoin hash rate dropped 35%. Sound “decentralized” to you?”
He cited the report from Fortune.com on this to support his view.
“Hey cryptocurrency “experts”, ever heard of PayPal? It’s possible … maybe … that I know than you realize about how money works.”
Since then Peter McCormack has offered Elon to appear on his podcast to discuss, and there could well be plenty more to follow on this…
So what do you think about the recent Elon comments on Bitcoin and his reported plans to further Dogecoin as a universal currency? Elon to go all in on Dogecoin? Let us know in the comments section below.
We’ll be following this story as it develops and we expect plenty more twists to come in this saga…Be sure to come back to Complete Crypto News, and follow us on Twitter for the latest updates.
If you’re interested in Bitcoin we have you covered with the best places to buy reviewed and listed here at Complete Crypto. If you’re team Dogecoin, rest assured we’ve done our homework for you too right here.