Tesla CEO Elon Musk Reveals Why He’s Pro Dogecoin Amid Debate Over Web3, Ethereum, Decentralization – Bitcoin News

Tesla and Spacex CEO Elon Musk has explained why he’s pro dogecoin as the debate over web3, Ethereum, and decentralization intensifies. Jack Dorsey, the former CEO of Twitter, insisted during that conversation that he was not against ETH. “I’m anti-centralized, VC-owned, single point of failure, and corporate-controlled lies,” he stressed.

Elon Musk Shares Why He’s Pro Doge

Elon Musk’s Doge explanation came as he and dogecoin co-creator Billy Markus joined a Twitter thread about web3 and Ehtereum involving Jack Dorsey. Former Twitter CEO Elon Musk raised concerns about web3 being controlled by venture capitalists (VCs) this week.

Markus wrote: “My goal is to build stuff and make money and have fun. I’m used to the corporate establishment and don’t really see any meaningful break away from it ~ bitcoin just gives power to new rich people.” Musk replied, “That’s why I’m pro Doge.”

In the same thread, Dorsey clarified: “I’m not anti-ETH. I’m anti-centralized, VC-owned, single point of failure, and corporate-controlled lies. If your goal is anti-establishment, I promise you it isn’t Ethereum. Don’t believe or trust me! Just look at the fundamentals.”

This week, Dorsey and Musk independently raised concerns about web3. Musk tweeted: “I’m not suggesting web3 is real – seems more marketing buzzword than reality right now.” He then followed up with another tweet: “Has anyone seen web3? I can’t find it.” In early December, he wrote, “Web3 sounds like bs.”

Tesla boss and a strong supporter for the cryptocurrency meme dogecoin. In the crypto world, he is known as “Dogefather”. In addition to Bitcoin and Ethereum, he also owns Dogecoin.

Musk, who has been named Time Magazine’s Person of the Year, announced last week that Tesla will accept DOGE for payments. He views bitcoin and DOGE to be a good cryptocurrency for transaction.

Musk shared a reason why he supported dogecoin in October. “Lots of people I talked to on the production lines at Tesla or building rockets at Spacex own Doge. They aren’t financial experts or Silicon Valley technologists. That’s why I decided to support Doge — it felt like the people’s crypto,” he explained.

What do you think about Musk’s dogecoin comment and the debate over web3? Please comment below.

Kevin Helms

Kevin is a graduate of Austrian Economics. He discovered Bitcoin in 2011, and has been an advocate ever since. He is interested in Bitcoin security and open-source software, network effects, and the intersection of cryptography and economics.