A tweet about Dogecoin by Tesla founder Elon Musk provoked a terse response from high-profile figures in the cryptocurrency industry on Sunday.
Fast Facts:
- Musk responded to a tweet in which Twitter user @itsALLrisky claimed that Dogecoin was superior to Bitcoin, tweeting back: “Ideally, Doge speeds up block time 10X, increases block size 10X & drops fee 100X. Then it wins hands down.”
- BlockTower Capital founder Ari Paul rebuked him, replying: “Bitcoin isn’t slow and expensive because of an engineering limitation. It’s slow and expensive because it prioritizes decentralization and security.”
- MicroStrategy founder Michael Saylor also replied to Musk, tweeting: “The world needs a decentralized, secure, deflationary store of value like #Bitcoin much more than it needs the more centralized, less secure, inflationary medium of exchange that you describe above.”