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Elon Musk about the nature of money: I played a significant role in creating PayPal. And, so my understanding of the money system at a fundamental level of how it actually works, the detailed mechanics of it is I think, there are very few people that understand as better as me.
Bitcoin is an interesting example, obviously, but the transaction volume of Bitcoin is low and the cost per transaction is high. It is at least at a space level suitable for may be an exchange a store of value, but fundamentally Bitcoin is not a good substitute for transactional currency.
And, even though it was created as a silly joke Dogecoin is better suited for transactions. The total transaction flow that you do with Dogecoin is substantially more than, like the transactions per day has much higher potential than Bitcoin. It is slightly inflationary. But that inflationary number is a fixed number as supposed to a percentage, that means over time its percentage inflation actually decreases. And, that is actually good because it encourages people to spend rather than sort of hoard it as a store of value.
Community Response: As long as anyone makes a profit in any cryptocurrency, someone will lose money.
He’s manipulating the market. Dogecoin is good for spending not for hoarding. Dogecoin itself is cheap, and it’s not stable.
Novices can buy Dogecoin to practice hands. Basically, they can’t lose much or earn anything, but if you really want to make money, you need a planned investment.
Whatever people want to think of him, you can love him or hate him, but one thing they can’t deny him is his cheer high I.Q, and that in turn makes for the eccentric side of him.
When will Tesla/SpaceX accept Doge payment?
Recently swapped Doge to USDT, and now they say it’s going to be a bull market. I think it’s worth swapping back or not, I’m not sure.
Once Doge’s Hype out reaches this Planetary Boundary it evolves into DogeOrbit to compete with interplanetary Species.
Dogecoin it is the same value as the “dollar inflation wise.”
The man knows what he is talking about!
Dogecoin will boom anytime. There is not any doubt about its upward moving. Take it easy being a Doge lover.
It is weird with so many things Elon Musk has done for the humanity we have to waste time hearing about Doge where he is not too much involved.
