Elon Musk Explains DOGE Edge Over Bitcoin, But Where Is He Wrong?

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 | DOGE Plunges 9% As Creator Reveals How Much He Holds In This Cryptocurrency When asked about his preferences of DOGE over Bitcoin, Musk claimed that “even though” 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 “high price” users need to pay for using the Bitcoin network. Moreover, the Tesla executive believes Bitcoin has been unable to adapt to current times where “better internet connections” make long synchronization times and “small” block size obsolete. He referred to these Bitcoin attributes as “comic” and added the following addressing one of this cryptocurrency’s main features, its fixed supply: I think there is some value to having a lineal increase in the amount of currency that is generated (…). If a currency is too deflationary, if a currency is expected to increase its value over time there is reluctant to spend it (…) Musk’s 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 “The Bullish Case for Bitcoin”, took to Twitter for th...