Elon Musk says Dogecoin has the potential to be a currency

Elon Musk says Dogecoin has the potential to be a foreign money as his Twitter deal has been placed on maintain. It’s not the primary time he’s saying this, and it’s only a reaffirmation of his earlier statements. Elon has at all times mentioned Dogecoin may turn into folks’s foreign money if just a few elementary issues of the crypto is addressed. This consists of the block dimension, transaction price, transaction pace, and extra.

Elon’s perception in Dogecoin

After displaying his curiosity in shopping for Twitter, Elon mentioned he plans to make use of Doge to resolve Twitter’s spam bot drawback. Mark Cuban shared the concept for a similar on Twitter, the place he proposed placing up 1 Dogecoin to make use of Twitter and spammers dropping it if voted that their posts are certainly spam. In that case, they might want to publish 100 instances extra Dogecoin than the earlier time to maintain utilizing the platform.

It has potential as a foreign money

— Elon Musk (@elonmusk) May 12, 2022

This time Billy Markus, one of many founders of Dogecoin, posted on Twitter that “the rationale I like Dogecoin is as a result of it is aware of it’s silly.” Elon replied to the tweet saying, “It has potential as a foreign money.” He thinks that Bitcoin is a greater retailer of worth whereas Dogecoin is extra suited for use as a foreign money.

Nonetheless, it’ll be troublesome to push crypto as a foreign money when it’s nearly 90% down from its all-time excessive. Not mentioning the truth that since final yr Dogecoin hasn’t seen any main rally. However sure, if Elon is ready to remodel it into one thing particular, that will likely be a unique case.

One factor can change all of it

For those who have a look at the highest cryptocurrencies from completely different instances, solely those which have actual use circumstances survive and develop. Proper now, no matter one may say, Dogecoin doesn’t have any actual use. Nonetheless, if Elon is actually in a position to remedy the Twitter bot drawback with Doge, then it is going to have a real-world use case that individuals will see. This may also improve its value and its adoption. Till then it doesn’t matter what Elon or anybody else says, I don’t see an actual future for Doge.

What are your ideas as Elon Musk says Dogecoin has the potential to be a foreign money? And do you assume that except Dogecoin will get an actual use case, there’s a future? Tell us within the feedback beneath. Additionally, should you discovered our content material informative, do like and share it with your mates.

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