Spencer Schiff claims it’s weird that Tesla CEO is still obsessed with the DOGE coin, here’s why he thinks it
In a Twitter discussion under Elon Musk’s interview with Time Magazine, in which the former claimed that Dogecoin is much less suited for transactions than the flagship cryptocurrency, the son of famous Bitcoin naysayer Peter Schiff, Spencer, stated that it is bizarre that Elon still prefers DOGE to Bitcoin.
Here’s why Musk’s obsession with DOGE is “weird,” according to Schiff Jr.
The video of the interview was posted by the Bitcoin account “Bitcoin Meme Hub”. The account owner tweeted that since it’s almost 2022, it’s time for Tesla CEO to know about Bitcoin Lightning Network.
To that, Spencer Schiff responded that Musk is well aware of it since he mentioned the Lightning Network before. For this reason, Schiff Jr. thought it was bizarre that Musk is still obsessed with the leading meme cryptocurrency, DOGE.
Elon Musk’s obsession with Dogecoin seems to be gaining momentum, due to his personal preferences. On Tuesday, Musk tweeted that Tesla was planning to launch products that users can purchase with DOGE to “see how it goes.”
Billionaire Mark Cuban, owner of the Mavericks baseball team, stated earlier this year that a lot of people are using DOGE to pay for merch and tickets in the team’s online store and spend quite a lot of this meme cryptocurrency.
About the Lightning Network (LN)
LN is a second layer protocol for payments used on Bitcoin or Litecoin blockchains that makes transactions between existing nodes faster and much cheaper. It solves the problem of the low scalability of Bitcoin. However, the transactions are carried out off the blockchain.
As reported by CoinDesk, recently CardCoins has joined the companies that utilize the Lightning Network for accepting micropayments in Bitcoin.
CardCoins allows customers to exchange prepaid gift cards for BTC. They can now receive their flagship crypto through the LN. Among other businesses that use the Lightning Network, including McDonald’s in El Salvador, Twitter uses the LN to allow users to tip authors of content they find useful or entertaining.
