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Why support dog coin instead of bitcoin? Musk explains this

Share the news of December 24 with wechat scanning QR code < / P > < p > to friends and circles of friends < / P > < p > according to foreign media reports, as we all know, Elon Musk, CEO of Tesla, is a strong supporter of dog coin, but not the iron powder of bitcoin. Musk explained this on Thursday, US local time. < / P > < p > < / P > < p > on Thursday, Billy Markus, co-founder of dog coin, wrote on Twitter: "My goal is to make things, make money and have fun. I'm used to the corporate system and can't see any meaningful breakthrough. Bitcoin just gives power to the newly rich." < p > then, as the most influential supporter of dog coin, musk replied on twitter that this is "the reason why I support Dog Coin" < p > there is a heated debate on the Internet about whether blockchain (the potential driving force of Web3) and bitcoin are truly decentralized technologies, or are actually manipulated by a small group of individuals and companies in the dark. < / P > < p > Jack Dorsey, former CEO of twitter (Jack Dorsey) recently joined musk and published a long speech against Web3 on twitter, arguing that "users do not own Web3. The actual owners are the venture capital institutions behind the project and their limited partners. Web3 can never escape their incentives. Web3 is a centralized entity with different labels in the end." < p > musk then wrote a satirical article saying: "has anyone seen Web3? I didn't find it.". Dorsey's remarks aroused strong opposition almost immediately, and many high-profile cryptocurrency investors withdrew their attention from him on the platform < p > but Marcus, musk and Dorsey may have a point. According to a recent study released by the National Bureau of economic research, bitcoin is not entirely a decentralized technology. The study shows that the top 10000 bitcoin holders have 5 million bitcoins, worth up to $232 billion. This is 0.01% of all users, but it has 27% supply < p > Dorsey's comments were also strongly opposed by the Ethereum community, because he hinted in his tweet on Tuesday that this cryptocurrency is not "really safe and flexible". In his tweet two days later, Dorsey reiterated: "I don't object to Ethereum, but to the lies of centralization, venture capital ownership, single point of failure and company control. If your goal is anti establishment, I promise you it's not Ethereum." < p > unlike Ethereum and bitcoin, Dog Coin seems a little strange, initially even from a joke. For musk, this is the attractive part < p > musk has always been one of the largest buyers of cryptocurrency. Earlier this year, its electric vehicle company Tesla invested about $1.5 billion in bitcoin. But then his view of bitcoin changed 180 degrees, first causing the price of bitcoin to soar and then lead to its collapse < p > he also had a great impact on the price of dog coins, often leading to sharp fluctuations. In other words, whatever the outsider's words, musk is an authority on bitcoin and dog coin. However, the billionaire CEO has repeatedly warned that this is not a serious way to invest < p > he said in May: "the key is that the dog coin was invented as a joke, essentially to make fun of cryptocurrency, so I think the most ironic or interesting results are often the most likely to happen." < p > the debate on whether cryptocurrency really represents decentralization and anti establishment may last longer. The remarks of musk or Dorsey will lead the debate and determine the short-term fate of the market. (small) < / P > < p >


2023-03-22 10:04:48

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