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Tesla CEO Elon Musk Reveals Why He’s Pro Dogecoin Amid Debate Over Web3, Ethereum, Decentralization

News Feed - 2021-12-25 10:12:43

Tesla CEO Elon Musk Reveals Why He"s Pro Dogecoin Amid Debate Over Web3, Ethereum, Decentralization


Tesla and Spacex CEO Elon Musk has explained why he’s pro dogecoin as the debate over web3, Ethereum, and decentralization intensifies. In the same conversation, former Twitter CEO Jack Dorsey insisted that he is not anti-ETH. “I’m anti-centralized, VC-owned, single point of failure, and corporate-controlled lies,” he stressed. Elon Musk Shares Why He’s Pro Doge


Elon Musk’s Doge explanation came as he and dogecoin co-creator Billy Markus joined a Twitter thread about web3 and Ehtereum involving Jack Dorsey. The former Twitter CEO raised concerns this week about web3 being owned by venture capitalists (VCs).


Markus wrote: “My goal is to build stuff and make money and have fun. I’m used to the corporate establishment and don’t really see any meaningful break away from it ~ bitcoin just gives power to new rich people.” Musk replied, “That’s why I’m pro Doge.”



In the same thread, Dorsey clarified: “I’m not anti-ETH. I’m anti-centralized, VC-owned, single point of failure, and corporate-controlled lies. If your goal is anti-establishment, I promise you it isn’t Ethereum. Don’t believe or trust me! Just look at the fundamentals.”


Musk and Dorsey independently voiced concerns over web3 this week. Musk tweeted: “I’m not suggesting web3 is real – seems more marketing buzzword than reality right now.” He then followed up with another tweet: “Has anyone seen web3? I can’t find it.” In early December, he wrote, “Web3 sounds like bs.”


The Tesla boss is a huge supporter of the meme cryptocurrency dogecoin. He is even known in the crypto community as the Dogefather. He personally owns dogecoin in addition to bitcoin and ether.


Musk, who has been named Time Magazine’s Person of the Year, announced last week that Tesla will accept DOGE for payments. He sees bitcoin as a store of value and DOGE as the best cryptocurrency for transactions.


In October, Musk revealed a different reason why he decided to support dogecoin. “Lots of people I talked to on the production lines at Tesla or building rockets at Spacex own Doge. They aren’t financial experts or Silicon Valley technologists. That’s why I decided to support Doge — it felt like the people’s crypto,” he explained. Tags in this story Billy Markus, Bitcoin, Decentralization, Doge, dogecoin, Dogefather, Elon Musk, elon musk bitcoin, Ethereum, Jack Dorsey, pro doge, Tesla CEO, tesla doge, tesla dogecoin, Twitter CEO, VCs, Web3, web3 debate


What do you think about Musk’s dogecoin comment and the debate over web3? Let us know in the comments section below. Kevin Helms


A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography. Matrixport Founder Jihan Wu Believes Crypto Space Will Swell to "Tens of Trillions of Dollars" FEATURED | 10 hours ago German Prosecutors Hire Local Bank to "Clean" Seized Crypto Worth $113 Million FEATURED | 1 day ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleMatrixport Founder Jihan Wu Believes Crypto Space Will Swell to ‘Tens of Trillions of Dollars’ Next articlePro-Bitcoin Senator to Introduce Comprehensive Crypto Bill in US Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItLending Platform Ledn Launching Bitcoin-Backed Mortgage Product, Raises $70 Million


Global digital asset savings and credit platform Ledn has announced the upcoming launch of a bitcoin-backed mortgage product, calling it "the first product of its kind to hit the market." The company has also raised $70 million, which brings its ... read more.Crypto Lender Nexo Launches NFT Lending Desk, Loans up to 20% for Popular NFTs Canaan Secures Order for 30,000 Bitcoin Mining Rigs From Genesis Digital Assets Ripple Achieves "Strongest Year Ever" Despite SEC Lawsuit Over XRP, Says CEO German Prosecutors Hire Local Bank to "Clean" Seized Crypto Worth $113 Million

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