The CEO of SpaceX and Tesla was responding to a Sunday blog post written by Vitalik Buterin, who founded ethereum in 2015. In this post, Mr. Buterin countered previous claims by Mr. Musk that dogecoin could be blasted. ‘scale to such a level that it could function as a mainstream. form of currency.
“In fact, there are some important and quite subtle technical factors that limit the scaling of blockchain,” Buterin wrote. “In many cases there are solutions, but even with the solutions there are limits.”
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Mr. Musk responded to the comments via Twitter, claiming Mr. Buterin “fears the Doge,” as well as a meme of a simulated Shiba Inu dog in the style of the classic 1975 movie poster. Jaws.
The tech billionaire also reiterated his support for cryptocurrencies in general over traditional fiat currencies.
“The real battle is between fiat and crypto,” he tweeted. “Overall, I support the latter.”
It’s hard to attribute market movements to specific events or comments, but Mr. Musk’s influence in the space has been notable since he announced a $ 1.5 billion bitcoin investment. via Tesla ‘earlier this year.
After falling below $ 32,000 on Sunday, bitcoin has since rebounded above $ 37,000, causing a market-wide rally.
Dogecoin’s last approval on Monday resulted in an immediate price hike of around $ 0.01, although this is relatively modest given that its value has hovered between $ 0.25 and $ 0.34 in the past 24 hours. .
Mr Buterin’s criticism of dogecoin’s ambitions comes less than a week after his Ethereum co-founder Charles Hoskinson posted a video offering advice to Mr Musk on how to dramatically upgrade the cryptocurrency.
“If Elon is really serious about rebuilding Doge with his elite ninja engineers at Tesla, and I’m sure he has great programmers out there, here’s how you do it,” Mr. Hoskinson said. , before describing a not so simple 11-. a phased program that would take years to implement.
“Thank you sincerely for entering our space and sincerely thank you for telling everyone that you are going to take custody of this cryptocurrency and make sure it gets to where it needs to go, and I am waiting with it. looking forward to the big innovations you come up with in a year or two.