Tesla CEO Elon Musk shared what he sees as the most important improvement for Dogecoin. He also clarified that he had nothing to do with the Dogecoin Foundation and confirmed that he held only three cryptocurrencies.
Elon Musk on improving DOGE
Tesla and Spacex CEO Elon Musk discussed cryptocurrencies on Twitter on Sunday. As for Dogecoin improvements, he was asked if he had any recent interactions with the Doge development team. Although Musk said he had not communicated with them recently, he shared:
“It’s important to reduce fees, shorten blocking times, and increase block size.”
Dogecoin co-creator Billy Markus signed in and responded to Elon Musk’s improvement tweet, stressing that he thought “it is enough for Dogecoin to be fast, scalable and cheap to ship” and added that “it doesn’t have to be another NFT-hosted blockchain , other tokens or whatever. ”Musk replied with the symbol “one hundred points.”
In addition, Musk responded to another Doge supporter who asked, “Do you think that if Dogecoin meets the goals you set out here, it could be more practical and effective than something like Lightning Network as a medium of exchange?”
Musk replied, “Maybe. BTC was designed at a time of relatively low bandwidth and high latency. If both continue to improve significantly, we will reach a point where no second layer will be needed. “
In August, Musk agreed with Mark Cuban that “the Doge community is strongest when it comes to using it as a medium of exchange.”
Musk also clarified that he had nothing to do with the Dogecoin Foundation in response to the comment: “Jared Birchall represents Elon Musk, but like all advisers, he does not have direct voting rights. This ensures that the foundation remains independent while leveraging the expertise of people like Elon. ”Spacex CEO wrote:
“Neither Jared, nor I, nor anyone I know, has anything to do with this foundation.”
The Dogecoin Foundation was relaunched in August. Its website lists Jared Birchall as one of four advisors on the board and describes him as Musk’s “legal and financial adviser.” Other advisors include Billy Markus and Vitalik Buterin.
Musk was also asked how much Shiba Inu (SHIB) held and simply replied, “None.”
In addition to SHIB, Musk was asked if he had investments in several other cryptocurrencies, including FLOKI, a token named after his puppy. Instead of answering each coin, Musk confirmed that he owned only BTC, ETH and Dogecoin.