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

Tesla and Spacex CEO Elon Musk has defined why he’s professional dogecoin as the controversy over web3, Ethereum, and decentralization intensifies. In the identical dialog, former Twitter CEO Jack Dorsey insisted that he’s not anti-ETH. “I’m anti-centralized, VC-owned, single point of failure, and corporate-controlled lies,” he careworn.

Elon Musk Shares Why He’s Pro Doge

Elon Musk’s Doge rationalization got here as he and dogecoin co-creator Billy Markus joined a Twitter thread about web3 and Ehtereum involving Jack Dorsey. The former Twitter CEO raised issues this week about web3 being owned by enterprise 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.”

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

In the identical 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 issues over web3 this week. Musk tweeted: “I’m not suggesting web3 is real – seems more marketing buzzword than reality right now.” He then adopted up with one other tweet: “Has anyone seen web3? I can’t find it.” In early December, he wrote, “Web3 sounds like bs.”

The Tesla boss is a large supporter of the meme cryptocurrency dogecoin. He is even recognized within the crypto neighborhood because the Dogefather. He personally owns dogecoin along with bitcoin and ether.

Musk, who has been named Time Magazine’s Person of the Year, introduced final week that Tesla will settle for DOGE for funds. He sees bitcoin as a retailer of worth and DOGE as the perfect cryptocurrency for transactions.

In October, Musk revealed a distinct purpose why he determined to help 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 defined.

Tags on this story
Billy Markus, Bitcoin, Decentralization, Doge, dogecoin, Dogefather, Elon Musk, elon musk bitcoin, Ethereum, Jack Dorsey, professional doge, Tesla CEO, tesla doge, tesla dogecoin, Twitter CEO, VCs, Web3, web3 debate

What do you consider Musk’s dogecoin remark and the controversy over web3? Let us know within the feedback part under.

Kevin Helms

A scholar of Austrian Economics, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His pursuits lie in Bitcoin safety, open-source techniques, community results and the intersection between economics and cryptography.

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