{"id":480037,"date":"2021-12-29T18:00:23","date_gmt":"2021-12-29T18:00:23","guid":{"rendered":"https:\/\/wncen.com\/?p=480037"},"modified":"2024-06-11T14:10:16","modified_gmt":"2024-06-11T14:10:16","slug":"elon-musk-explains-doge-edge-over-bitcoin-but-where-is-he-wrong","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/elon-musk-explains-doge-edge-over-bitcoin-but-where-is-he-wrong\/","title":{"rendered":"Elon Musk Explains DOGE Edge Over Bitcoin, But Where Is He Wrong?"},"content":{"rendered":"

In an interview for the Lex Fridman Podcast, CEO at Tesla Elon Musk talked about Dogecoin (DOGE), Bitcoin, Web 3, smart contracts and more. Musk has been more involved with the crypto space in 2021, but most of his takes have sparked debate and controversy.<\/p>\n

Related Reading |\u00a0DOGE Plunges 9% As Creator Reveals How Much He Holds In This Cryptocurrency<\/a><\/strong><\/p>\n

When asked about his preferences of DOGE over Bitcoin, Musk claimed that \u201ceven though\u201d the former was created as a joke it is superior to BTC on transaction volume, and capability. In his view, the meme coin is also cost-efficient<\/a> versus the \u201chigh price\u201d users need to pay for using the Bitcoin network.<\/p>\n

Moreover, the Tesla executive believes Bitcoin has been unable to adapt to current times where \u201cbetter internet connections\u201d make long synchronization times and \u201csmall\u201d block size obsolete. He referred to these Bitcoin attributes as \u201ccomic\u201d and added the following addressing one of this cryptocurrency\u2019s main features, its fixed supply:<\/p>\n

I think there is some value to having a lineal increase in the amount of currency that is generated (\u2026). If a currency is too deflationary, if a currency is expected to increase its value over time there is reluctant to spend it (\u2026)<\/p><\/blockquote>\n

Musk\u2019s replies were full of gaps for some users that took the time to demonstrate the counter argument in the Bitcoin versus DOGE debate. Vijay Boyapati, author of \u201cThe Bullish Case for Bitcoin\u201d, took to Twitter for this task and to point out the mistake made by the Tesla executive.<\/p>\n

Talking about the block size for Dogecoin, Boyapati said that although it is in fact larger than Bitcoin, the latter has \u201corders of magnitude more transactional throughput\u201d via the second layer solution Lightning Network.<\/a> Historically, the BTC community has opposed any change to the network\u2019s block size.<\/p>\n

This is due to the numbers of issues that could altered the network and even threatened its existence. In that sense, Boyapati said<\/a>:<\/p>\n

Scaling at the blockchain layer is fundamentally flawed as it crucially undermines decentralization and protocol immutability.<\/p><\/blockquote>\n

What Elon Musk Missed On The Bitcoin v. DOGE Debate<\/h2>\n

Boyapati referred to Musk\u2019s other reasons to support Dogecoin over Bitcoin. Addressing DOGE\u2019s low transaction cost, Boyapati claims it\u2019s due to the low network usage and not due to a superior design. Something similar happens to Bitcoin network fees.<\/p>\n

In times of bullish price action, the Bitcoin network\u2019s fees usually tend to follow the price. The opposite happens in extend periods of downtrend. In fact, the first half of 2021 saw transactions fees of over 50 sats\/vB in opposition to todays 11 sat\/vB, according<\/a> to Mempool.space.<\/p>\n

\"Bitcoin
BTC Transaction fees for the past 6 months. Source: Mempool Explorer<\/figcaption><\/figure>\n

Boyapati hit the nail on the BTC monetary policy and block size, as he claimed developers would become \u201ccentral bankers\u201d if they are able to alter these characteristics. Bitcoin has surpassed the $1 trillion in market cap and worldwide adoption because people can verify its immutability, Boyapati added:<\/p>\n

The problem here is that Elon believes money must first and foremost be a medium of exchange. Rather, money always evolves through stages where it first becomes a store of value THEN subsequently a medium of exchange.<\/p><\/blockquote>\n

Related Reading |<\/strong> Tesla To Accept Dogecoin For Merchandise, Token Soars 30%<\/a><\/strong><\/p>\n

As of press time, BTC trades at $47,940 with a 2.4% loss in the past day.<\/p>\n

\"Bitcoin
BTC trends to the downside in the 4-hour chart. Source: BTCUSD Tradingview<\/a><\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"

In an interview for the Lex Fridman Podcast, CEO at Tesla Elon Musk talked about Dogecoin (DOGE), Bitcoin, Web 3, smart contracts and more. Musk has been more involved with the crypto space in 2021, but most of his takes have sparked debate and controversy. Related Reading |\u00a0DOGE Plunges 9% As Creator Reveals How Much He Holds In This Cryptocurrency When asked about his preferences of DOGE over Bitcoin, Musk claimed that \u201ceven though\u201d the former was created as a joke it is superior to BTC on transaction volume, and capability. In his view, the meme coin is also cost-efficient versus the \u201chigh price\u201d users need to pay for using the Bitcoin network. Moreover, the Tesla executive believes Bitcoin has been unable to adapt to current times where \u201cbetter internet connections\u201d make long synchronization times and \u201csmall\u201d block size obsolete. He referred to these Bitcoin attributes as \u201ccomic\u201d and added the following addressing one of this cryptocurrency\u2019s main features, its fixed supply: I think there is some value to having a lineal increase in the amount of currency that is generated (\u2026). If a currency is too deflationary, if a currency is expected to increase its value over time there is reluctant to spend it (\u2026) Musk\u2019s replies were full of gaps for some users that took the time to demonstrate the counter argument in the Bitcoin versus DOGE debate. Vijay Boyapati, author of \u201cThe Bullish Case for Bitcoin\u201d, took to Twitter for this task and to point out the mistake made by the Tesla executive. Talking about the block size for Dogecoin, Boyapati said that although it is in fact larger than Bitcoin, the latter has \u201corders of magnitude more transactional throughput\u201d via the second layer solution Lightning Network. Historically, the BTC community has opposed any change to the network\u2019s block size. This is due to the numbers of issues that could altered the network and even threatened its existence. In that sense, Boyapati said: Scaling at the blockchain layer is fundamentally flawed as it crucially undermines decentralization and protocol immutability. What Elon Musk Missed On The Bitcoin v. DOGE Debate Boyapati referred to Musk\u2019s other reasons to support Dogecoin over Bitcoin. Addressing DOGE\u2019s low transaction cost, Boyapati claims it\u2019s due to the low network usage and not due to a superior design. Something similar happens to Bitcoin network fees. In times of bullish price action, the Bitcoin network\u2019s fees usually tend to follow the price. The opposite happens in extend periods of downtrend. In fact, the first half of 2021 saw transactions fees of over 50 sats\/vB in opposition to todays 11 sat\/vB, according to Mempool.space. Boyapati hit the nail on the BTC monetary policy and block size, as he claimed developers would become \u201ccentral bankers\u201d if they are able to alter these characteristics. Bitcoin has surpassed the $1 trillion in market cap and worldwide adoption because people can verify its immutability, Boyapati added: The problem here is that Elon believes money must first and foremost be a medium of exchange. Rather, money always evolves through stages where it first becomes a store of value THEN subsequently a medium of exchange. Related Reading | Tesla To Accept Dogecoin For Merchandise, Token Soars 30% As of press time, BTC trades at $47,940 with a 2.4% loss in the past day.<\/p>\n","protected":false},"author":535,"featured_media":478761,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119,1144,1785,7,79600],"class_list":["post-480037","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-btcusd","tag-doge","tag-dogecoin","tag-dogeusdt"],"acf":[],"yoast_head":"\nElon Musk Explains DOGE Edge Over Bitcoin, But Where Is He Wrong?<\/title>\n<meta name=\"description\" content=\"In an interview for the Lex Fridman Podcast, CEO at Tesla Elon Musk talked about Dogecoin (DOGE), Bitcoin, Web 3, smart contracts and more.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/elon-musk-explains-doge-edge-over-bitcoin-but-where-is-he-wrong\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Elon Musk Explains DOGE Edge Over Bitcoin, But Where Is He Wrong?\" \/>\n<meta property=\"og:description\" content=\"In an interview for the Lex Fridman Podcast, CEO at Tesla Elon Musk talked about Dogecoin (DOGE), Bitcoin, Web 3, smart contracts and more.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wncen.com\/news\/elon-musk-explains-doge-edge-over-bitcoin-but-where-is-he-wrong\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2021-12-29T18:00:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-11T14:10:16+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/12\/bitcoin-2.jpeg?fit=640%2C426\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"426\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Reynaldo Marquez\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@rl_m\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Reynaldo Marquez\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/wncen.com\/news\/elon-musk-explains-doge-edge-over-bitcoin-but-where-is-he-wrong\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/news\/elon-musk-explains-doge-edge-over-bitcoin-but-where-is-he-wrong\/\"},\"author\":{\"name\":\"Reynaldo Marquez\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/6b25e0bbb04d6129ebb4d\"},\"headline\":\"Elon Musk Explains DOGE Edge Over Bitcoin, But Where Is He Wrong?\",\"datePublished\":\"2021-12-29T18:00:23+00:00\",\"dateModified\":\"2024-06-11T14:10:16+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/elon-musk-explains-doge-edge-over-bitcoin-but-where-is-he-wrong\/\"},\"wordCount\":596,\"publisher\":{\"@id\":\"https:\/\/wncen.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/elon-musk-explains-doge-edge-over-bitcoin-but-where-is-he-wrong\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/12\/bitcoin-2.jpeg?fit=640%2C426\",\"keywords\":[\"bitcoin\",\"btc\",\"btcusd\",\"doge\",\"Dogecoin\",\"dogeusdt\"],\"articleSection\":[\"Cryptocurrency Market News\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2021\",\"copyrightHolder\":{\"@id\":\"https:\/\/wncen.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/wncen.com\/news\/elon-musk-explains-doge-edge-over-bitcoin-but-where-is-he-wrong\/\",\"url\":\"https:\/\/wncen.com\/news\/elon-musk-explains-doge-edge-over-bitcoin-but-where-is-he-wrong\/\",\"name\":\"Elon Musk Explains DOGE Edge Over Bitcoin, But Where Is He Wrong?\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/elon-musk-explains-doge-edge-over-bitcoin-but-where-is-he-wrong\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/elon-musk-explains-doge-edge-over-bitcoin-but-where-is-he-wrong\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/12\/bitcoin-2.jpeg?fit=640%2C426\",\"datePublished\":\"2021-12-29T18:00:23+00:00\",\"dateModified\":\"2024-06-11T14:10:16+00:00\",\"description\":\"In an interview for the Lex Fridman Podcast, CEO at Tesla Elon Musk talked about Dogecoin (DOGE), Bitcoin, Web 3, smart contracts and more.\",\"breadcrumb\":{\"@id\":\"https:\/\/wncen.com\/news\/elon-musk-explains-doge-edge-over-bitcoin-but-where-is-he-wrong\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/wncen.com\/news\/elon-musk-explains-doge-edge-over-bitcoin-but-where-is-he-wrong\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/wncen.com\/news\/elon-musk-explains-doge-edge-over-bitcoin-but-where-is-he-wrong\/#primaryimage\",\"url\":\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/12\/bitcoin-2.jpeg?fit=640%2C426\",\"contentUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/12\/bitcoin-2.jpeg?fit=640%2C426\",\"width\":640,\"height\":426,\"caption\":\"Picture of gold bitcoin on top a circuit board\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/wncen.com\/news\/elon-musk-explains-doge-edge-over-bitcoin-but-where-is-he-wrong\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/wncen.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Elon Musk Explains DOGE Edge Over Bitcoin, But Where Is He Wrong?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/wncen.com\/#website\",\"url\":\"https:\/\/wncen.com\/\",\"name\":\"NewsBTC\",\"description\":\"Bitcoin & Cryptocurrency News Today\",\"publisher\":{\"@id\":\"https:\/\/wncen.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/wncen.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/wncen.com\/#organization\",\"name\":\"NewsBTC\",\"url\":\"https:\/\/wncen.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"contentUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"width\":157,\"height\":46,\"caption\":\"NewsBTC\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/newsbtc\",\"https:\/\/x.com\/newsbtc\",\"https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/6b25e0bbb04d6129ebb4d\",\"name\":\"Reynaldo Marquez\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/036a3927a22f63e491c08a08c3641ece?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/036a3927a22f63e491c08a08c3641ece?s=96&d=mm&r=g\",\"caption\":\"Reynaldo Marquez\"},\"description\":\"A literature major, Reynaldo M\u00e1rquez has been deeply immersed in the crypto industry since 2017. His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide. In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride. He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times. In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson\u2019s \u2018Neuromancer.\u2019 The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau\u2019s \u2018Civil Disobedience.\u2019 But that\u2019s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term. In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry. Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.\",\"sameAs\":[\"https:\/\/www.linkedin.com\/in\/reynaldo-mrquez-2ab111190\/\",\"https:\/\/x.com\/rl_m\"],\"url\":\"https:\/\/wncen.com\/author\/reynaldomarquez\/\"}]}<\/script>\n","yoast_head_json":{"title":"Elon Musk Explains DOGE Edge Over Bitcoin, But Where Is He Wrong?","description":"In an interview for the Lex Fridman Podcast, CEO at Tesla Elon Musk talked about Dogecoin (DOGE), Bitcoin, Web 3, smart contracts and more.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/wncen.com\/news\/elon-musk-explains-doge-edge-over-bitcoin-but-where-is-he-wrong\/","og_locale":"en_US","og_type":"article","og_title":"Elon Musk Explains DOGE Edge Over Bitcoin, But Where Is He Wrong?","og_description":"In an interview for the Lex Fridman Podcast, CEO at Tesla Elon Musk talked about Dogecoin (DOGE), Bitcoin, Web 3, smart contracts and more.","og_url":"https:\/\/wncen.com\/news\/elon-musk-explains-doge-edge-over-bitcoin-but-where-is-he-wrong\/","og_site_name":"NewsBTC","article_publisher":"https:\/\/www.facebook.com\/newsbtc","article_published_time":"2021-12-29T18:00:23+00:00","article_modified_time":"2024-06-11T14:10:16+00:00","og_image":[{"width":640,"height":426,"url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/12\/bitcoin-2.jpeg?fit=640%2C426","type":"image\/jpeg"}],"author":"Reynaldo Marquez","twitter_card":"summary_large_image","twitter_creator":"@rl_m","twitter_site":"@newsbtc","twitter_misc":{"Written by":"Reynaldo Marquez","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/wncen.com\/news\/elon-musk-explains-doge-edge-over-bitcoin-but-where-is-he-wrong\/#article","isPartOf":{"@id":"https:\/\/wncen.com\/news\/elon-musk-explains-doge-edge-over-bitcoin-but-where-is-he-wrong\/"},"author":{"name":"Reynaldo Marquez","@id":"https:\/\/wncen.com\/#\/schema\/person\/6b25e0bbb04d6129ebb4d"},"headline":"Elon Musk Explains DOGE Edge Over Bitcoin, But Where Is He Wrong?","datePublished":"2021-12-29T18:00:23+00:00","dateModified":"2024-06-11T14:10:16+00:00","mainEntityOfPage":{"@id":"https:\/\/wncen.com\/news\/elon-musk-explains-doge-edge-over-bitcoin-but-where-is-he-wrong\/"},"wordCount":596,"publisher":{"@id":"https:\/\/wncen.com\/#organization"},"image":{"@id":"https:\/\/wncen.com\/news\/elon-musk-explains-doge-edge-over-bitcoin-but-where-is-he-wrong\/#primaryimage"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/12\/bitcoin-2.jpeg?fit=640%2C426","keywords":["bitcoin","btc","btcusd","doge","Dogecoin","dogeusdt"],"articleSection":["Cryptocurrency Market News"],"inLanguage":"en-US","copyrightYear":"2021","copyrightHolder":{"@id":"https:\/\/wncen.com\/#organization"}},{"@type":"WebPage","@id":"https:\/\/wncen.com\/news\/elon-musk-explains-doge-edge-over-bitcoin-but-where-is-he-wrong\/","url":"https:\/\/wncen.com\/news\/elon-musk-explains-doge-edge-over-bitcoin-but-where-is-he-wrong\/","name":"Elon Musk Explains DOGE Edge Over Bitcoin, But Where Is He Wrong?","isPartOf":{"@id":"https:\/\/wncen.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/wncen.com\/news\/elon-musk-explains-doge-edge-over-bitcoin-but-where-is-he-wrong\/#primaryimage"},"image":{"@id":"https:\/\/wncen.com\/news\/elon-musk-explains-doge-edge-over-bitcoin-but-where-is-he-wrong\/#primaryimage"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/12\/bitcoin-2.jpeg?fit=640%2C426","datePublished":"2021-12-29T18:00:23+00:00","dateModified":"2024-06-11T14:10:16+00:00","description":"In an interview for the Lex Fridman Podcast, CEO at Tesla Elon Musk talked about Dogecoin (DOGE), Bitcoin, Web 3, smart contracts and more.","breadcrumb":{"@id":"https:\/\/wncen.com\/news\/elon-musk-explains-doge-edge-over-bitcoin-but-where-is-he-wrong\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/wncen.com\/news\/elon-musk-explains-doge-edge-over-bitcoin-but-where-is-he-wrong\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wncen.com\/news\/elon-musk-explains-doge-edge-over-bitcoin-but-where-is-he-wrong\/#primaryimage","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/12\/bitcoin-2.jpeg?fit=640%2C426","contentUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/12\/bitcoin-2.jpeg?fit=640%2C426","width":640,"height":426,"caption":"Picture of gold bitcoin on top a circuit board"},{"@type":"BreadcrumbList","@id":"https:\/\/wncen.com\/news\/elon-musk-explains-doge-edge-over-bitcoin-but-where-is-he-wrong\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/wncen.com\/"},{"@type":"ListItem","position":2,"name":"Elon Musk Explains DOGE Edge Over Bitcoin, But Where Is He Wrong?"}]},{"@type":"WebSite","@id":"https:\/\/wncen.com\/#website","url":"https:\/\/wncen.com\/","name":"NewsBTC","description":"Bitcoin & Cryptocurrency News Today","publisher":{"@id":"https:\/\/wncen.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/wncen.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/wncen.com\/#organization","name":"NewsBTC","url":"https:\/\/wncen.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wncen.com\/#\/schema\/logo\/image\/","url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","contentUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","width":157,"height":46,"caption":"NewsBTC"},"image":{"@id":"https:\/\/wncen.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/newsbtc","https:\/\/x.com\/newsbtc","https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw"]},{"@type":"Person","@id":"https:\/\/wncen.com\/#\/schema\/person\/6b25e0bbb04d6129ebb4d","name":"Reynaldo Marquez","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wncen.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/036a3927a22f63e491c08a08c3641ece?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/036a3927a22f63e491c08a08c3641ece?s=96&d=mm&r=g","caption":"Reynaldo Marquez"},"description":"A literature major, Reynaldo M\u00e1rquez has been deeply immersed in the crypto industry since 2017. His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide. In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride. He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times. In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson\u2019s \u2018Neuromancer.\u2019 The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau\u2019s \u2018Civil Disobedience.\u2019 But that\u2019s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term. In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry. Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.","sameAs":["https:\/\/www.linkedin.com\/in\/reynaldo-mrquez-2ab111190\/","https:\/\/x.com\/rl_m"],"url":"https:\/\/wncen.com\/author\/reynaldomarquez\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Elon Musk Explains DOGE Edge Over Bitcoin, But Where Is He Wrong?","url":"http:\/\/wncen.com\/news\/elon-musk-explains-doge-edge-over-bitcoin-but-where-is-he-wrong\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/elon-musk-explains-doge-edge-over-bitcoin-but-where-is-he-wrong\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/12\/bitcoin-2.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/12\/bitcoin-2.jpeg?fit=640%2C426"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Reynaldo Marquez"}],"creator":["Reynaldo Marquez"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc","btcusd","doge","dogecoin","dogeusdt"],"dateCreated":"2021-12-29T18:00:23Z","datePublished":"2021-12-29T18:00:23Z","dateModified":"2024-06-11T14:10:16Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Elon Musk Explains DOGE Edge Over Bitcoin, But Where Is He Wrong?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/elon-musk-explains-doge-edge-over-bitcoin-but-where-is-he-wrong\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/elon-musk-explains-doge-edge-over-bitcoin-but-where-is-he-wrong\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/12\\\/bitcoin-2.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/12\\\/bitcoin-2.jpeg?fit=640%2C426\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Reynaldo Marquez\"}],\"creator\":[\"Reynaldo Marquez\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\",\"btcusd\",\"doge\",\"dogecoin\",\"dogeusdt\"],\"dateCreated\":\"2021-12-29T18:00:23Z\",\"datePublished\":\"2021-12-29T18:00:23Z\",\"dateModified\":\"2024-06-11T14:10:16Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/12\/bitcoin-2.jpeg?fit=640%2C426","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/480037","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/535"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=480037"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/480037\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/478761"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=480037"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=480037"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=480037"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}