Elon Musk Just Embarrassed Himself In Front Of Crypto Twitter
On the Night of May 15th, a Twitter profile tweeted Doge Coin is the chosen one by Elon Musk because of its lower fees and less environmental effect.
Elon Musk replies that he wants to speed up Block time 10X and increase Block size 10X to reduce transaction fee 100X, for Doge Coin.
If the solution of blockchain scaling was simply to change the variables, why Adam Beck didn't think of this and why Satoshi didn't think of this.
Even now projects like Ethereum can increase the limit and make transaction fees on the chain reduce over 1000X.
THE SOLUTION IS NOT TO JUST CHANGE NUMBERS.
It seriously has a bad effects on the network security and decentralization. (Please remember this)
Many projects like BCH and BSV has tried all this. And failed.
This narrative is so 2013.
Bitcoin has proven itself again and again over the years on why it is the King. And projects like Ethereum are working for years to scale in this perspective.
If you are new to crypto, please do not get manipulated by Elon Musk's tweets.
IMO, Doge Coin is just a tool for Elon to flex his dominance around this space. It won't last long as he clearly has no clue what he is talking about.