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Elon Musk Discusses Important Dogecoin Improvements, Confirms No Investment in Shiba Inu – Bitcoin News

Tesla CEO Elon Musk has shared what he believes to be crucial dogecoin enhancements. He additionally clarified that he doesn’t have something to do with the Dogecoin Foundation and is not investing in the shiba inu (SHIB) token. Musk confirmed that he is solely holding three cryptocurrencies.

Elon Musk on Dogecoin Improvements, Shiba Inu Token

Tesla and Spacex CEO Elon Musk made a number of tweets about cryptocurrency, bitcoin, dogecoin, and the shiba inu token Sunday.

Regarding Dogecoin’s enhancements, he was requested whether or not he had any latest interactions with the Doge improvement crew. While admitting that he had not interacted with them these days, Musk shared:

What issues imo is decreasing charges, lowering block time & rising block measurement. A single layer community with exchanges as de facto layer 2 looks like the only resolution for a medium of change.

Dogecoin co-creator Billy Markus chimed in and responded to Musk’s Doge enchancment tweet. He confused that in his opinion, “dogecoin being fast, scalable, and inexpensive to send around is all it needs to be,” including that “it doesn’t need to be yet another blockchain that hosts NFTs or other tokens or whatever.” Musk replied with a “hundred points” image.

Elon Musk Discusses Important Dogecoin Improvements, Confirms No Investment in Shiba Inu

Furthermore, Musk responded to one other Doge supporter who requested: “Do you think if Dogecoin accomplishes the goals you put forth here then it could be more practical and efficient than something like the Lightning Network as a medium of exchange?”

The Tesla govt answered: “Possibly. Bitcoin was conceived at a time of relatively low bandwidth & high latency. If both continue to improve substantially, we will reach a point when no second layer is needed.”

In August, Musk agreed with the billionaire proprietor of the NBA crew Dallas Mavericks, Mark Cuban, that “The community for doge is the strongest when it comes to using it as a medium of exchange.”

Musk additionally clarified Sunday that he doesn’t have something to do with the Dogecoin Foundation in response to a touch upon Twitter stating: “Jared Birchall represents Elon Musk, but as all advisors he has no direct voting rights. This guarantees the foundation stays independent while taking advantage of the expertise of shibes like Elon.” The Spacex CEO wrote:

Neither Jared, nor me, nor anybody I do know has something to do with this basis.

The Dogecoin Foundation relaunched in August. Its web site lists Jared Birchall as one in every of its 4 board advisors, describing him as a “legal & financial advisor” to Musk. Other board advisors embrace Markus and Ethereum’s Vitalik Buterin.

Musk was requested how a lot shiba inu (SHIB) he is holding. The Tesla technoking merely replied, “None.”

Elon Musk Discusses Important Dogecoin Improvements, Confirms No Investment in Shiba Inu

Besides SHIB, Musk was requested whether or not he had holdings in a number of different cryptocurrencies, together with FLOKI, the token named after his shiba inu pet.

Instead of responding about every coin, Musk confirmed that he solely owned bitcoin, ether, and dogecoin. “Out of curiosity, I acquired some ASCII hash strings called ‘Bitcoin, Ethereum & Doge.’ That’s it,” he affirmed. “As I’ve said before, don’t bet the farm on crypto. True value is building products & providing services to your fellow human beings, not money in any form.”

Musk beforehand mentioned that his corporations, Spacex and Tesla, solely owned bitcoin. The electrical automobile firm launched its Q3 earnings report this week exhibiting $1.26 billion in BTC.

What do you concentrate on Elon Musk’s tweets? Let us know in the feedback part under.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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