Tesla and Spacex CEO Elon Musk has explained why he’s pro dogecoin as the debate over web3, Ethereum, and decentralization intensifies. In the same conversation, former Twitter CEO Jack Dorsey insisted that he is not anti-ETH. “I’m anti-centralized, VC-owned, single point of failure, and corporate-controlled lies,” he stressed.
Elon Musk explains why he’s Pro Doge
Elon Musk’s Doge explanation came as he and dogecoin co-creator Billy Markus joined a web3 and Ehtereum Twitter thread involving Jack Dorsey. The former Twitter CEO raised concerns this week over the ownership of Web3 by venture capitalists (VCs).
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 am not anti-ETH. I am anti-centralized, VC owned, single point of failure and corporate controlled lies. If your goal is anti-establishment, I promise you it’s not Ethereum. Don’t believe or trust me! Just look at the fundamentals.
Musk and Dorsey independently voiced concerns over web3 this week. 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.”
The boss of Tesla is a big supporter of the cryptocurrency dogecoin itself. He is even known in the crypto community as the Dogefather. He personally owns dogecoin in addition to bitcoin and ether.
Musk, who has been named Time Magazine’s Person of the Year, announced last week that Tesla will accept DOGE for payments. He sees bitcoin as a store of value and DOGE as the best cryptocurrency for transactions.
In October, Musk revealed a different reason he decided to back dogecoin. “A lot of people I’ve spoken to on Tesla’s production lines or rocket building at Spacex own Doge. They aren’t financial experts or Silicon Valley technologists. That’s why I have decided to support Doge – it sounded like people’s crypto, ”he explained.
