Doge coin better than anything else I've seen, just by accident.
Targets : 8 .. 27 .. 64 .. 161 .. 499 .. 832 .. 1390 .. 22000
Says Elon musk "
The foundational issue with Bitcoin in its current form is that the transaction volume is very limited, and the latency for a properly confirmed transaction is too long, much longer than you'd like. So, it's not great from a transaction volume standpoint or latency standpoint. It's perhaps useful to solve an aspect of the money database problem, which is a store of wealth or accounting of relative obligations, but it's not useful as a day-to-day currency. Part of the reason why I think there's some merits to Dogecoin, even though it was obviously created as a joke, is that it actually does have a much higher transaction volume capability than Bitcoin. And the cost of doing a transaction, the Dogecoin fee, is very low. Like right now, if you want to do a Bitcoin transaction, the price of doing that transaction is very high, so you could not use it effectively for most things, nor could it even scale to a high volume. And when Bitcoin started, around 2008 or something like that, the internet connections were much worse than they are today. They were way, way worse in 2008. So having a small block size or whatever it is and a long synchronization time made sense in 2008, but fast forward 10 years, it's like comically low. And I think there's some value to having a linear increase in the amount of currency that is generated. So, because some amount of the currency you'd like, like if a currency is too deflationary, or I should say if a currency is expected to increase in value over time, there's reluctance to spend it because you're like, "Oh, if I spend it now, then I will regret spending it because its scarcity is increasing with time, so I will just hold it." But if there's some dilution of the currency occurring over time, that's more of an incentive to use it as a currency. So, Dogecoin somewhat randomly has just a fixed number of coins or hash strings that are generated every year. So, there's some inflation, but it's not a percentage base, it's a fixed number. So, the percentage of inflation will necessarily decline over time. So, I'm not saying that it's like the ideal system for a currency, but I think it actually is just fundamentally better than anything else I've seen, just by accident."
Says Elon musk "
The foundational issue with Bitcoin in its current form is that the transaction volume is very limited, and the latency for a properly confirmed transaction is too long, much longer than you'd like. So, it's not great from a transaction volume standpoint or latency standpoint. It's perhaps useful to solve an aspect of the money database problem, which is a store of wealth or accounting of relative obligations, but it's not useful as a day-to-day currency. Part of the reason why I think there's some merits to Dogecoin, even though it was obviously created as a joke, is that it actually does have a much higher transaction volume capability than Bitcoin. And the cost of doing a transaction, the Dogecoin fee, is very low. Like right now, if you want to do a Bitcoin transaction, the price of doing that transaction is very high, so you could not use it effectively for most things, nor could it even scale to a high volume. And when Bitcoin started, around 2008 or something like that, the internet connections were much worse than they are today. They were way, way worse in 2008. So having a small block size or whatever it is and a long synchronization time made sense in 2008, but fast forward 10 years, it's like comically low. And I think there's some value to having a linear increase in the amount of currency that is generated. So, because some amount of the currency you'd like, like if a currency is too deflationary, or I should say if a currency is expected to increase in value over time, there's reluctance to spend it because you're like, "Oh, if I spend it now, then I will regret spending it because its scarcity is increasing with time, so I will just hold it." But if there's some dilution of the currency occurring over time, that's more of an incentive to use it as a currency. So, Dogecoin somewhat randomly has just a fixed number of coins or hash strings that are generated every year. So, there's some inflation, but it's not a percentage base, it's a fixed number. So, the percentage of inflation will necessarily decline over time. So, I'm not saying that it's like the ideal system for a currency, but I think it actually is just fundamentally better than anything else I've seen, just by accident."