Musk was selected as a man of TIME magazine: Dogecoin is better, cryptocurrency is difficult to replace fiat currency

Time:2021-12-30 Source: 919 views Trending Copy share

Tesla founder Elon Musk was officially named 2021 Man of the Year by Time Magazine on December 13. He was interviewed to argue for his usual use of Twitter, and he also emphasized the comparison of Dogecoin (DOGE). Bitcoin (BTC) is more suitable for trading.

Denies that he manipulates the market with Twitter

Musk, who has always been known for his radical/progressive remarks, denied in interviews that his usual posts are adding chaos to the market: the market is always changing, and I cannot clearly explain the reasons behind it. My remarks are of the same nature. Are they any different from stock fluctuations that may occur at any time? I don't think so.

Dogecoin is a better medium of exchange, and it is difficult for cryptocurrencies to replace fiat currencies

When talking about cryptocurrencies, Musk also stated once again that DOGE is a better trading medium than BTC. He pointed out that although BTC is a very typical new trading system, its transaction volume is low and the cost of each transaction is too high. BTC is more like a store of value than a currency in circulation.

On the contrary, Musk once again emphasized the advantages of DOGE: Maybe it (DOGE) was born from a stupid joke, but DOGE is more suitable for trading. The volume of transactions that DOGE can achieve is almost the same as that of contemporary ones, and the potential is higher than that of BTC.

Musk said that although DOGE also has inflation problems, the inflation rate of the currency is a fixed value, which means that over time, DOGE's inflation is substantially reduced, which can encourage people to spend it instead of taking it. To store value.

Musk emphasized that he thinks cryptocurrency is very interesting and is willing to discuss the concept of currency as a resource allocation system with anyone continuously. But Musk also pointed out that he suspects that cryptocurrency will replace fiat currency: I don't hate fiat currency like many people in the cryptocurrency world.

Time magazine believes that the influence of the controversial rich man has transcended the earth and penetrated into space, and asked what Musk feels about becoming the richest man. In this regard, Musk said: Putin is much richer than me in the Russian organization. He is a man. Those in power, I cannot do things like invading other countries.

The words are not amazing

As reported in many previous reports, the chaos caused by Musk on Twitter is not limited to the cryptocurrency market. On December 10, he suddenly said on Twitter that he was considering resigning and changing his job to become a full-time influencer. The move immediately attracted comments from OKEX CEO Jay Hao, cryptocurrency analyst Lark Davis, and well-known internet celebrity Mr Beast.

Musk, who is known for having no income but a large amount of assets, also sold 934,091 shares of Tesla again on the 9th, cashing out US$963 million. This is the fifth consecutive week that he has sold Tesla shares and is getting closer to selling. 10% shareholding commitment. (Approximately 64.71% completed)

On December 4th, Musk also used toilet etiquette memes on Twitter to mock Web3.0 supporters for not knowing their own self-respect, and he was tough on others to publicize cryptocurrency, Web3.0, and decentralized autonomous organizations (DAO). support.

At the time of writing, Musk said on Twitter that SpaCEX is launching a plan to extract carbon dioxide from the atmosphere and turn it into fuel. Whether this madman can really take us to Mars or make human society undergo a huge evolution? Time is still to be verified.

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