News

TESLA BILLIONAIRE ELON MUSK ISSUES SERIOUS BITCOIN AND ETHEREUM WARNING — AND CALLS FOR ‘MAXIMIZING’ DOGECOIN UPGRADE AFTER PRICE CRASH

Tesla billionaire Elon Musk, who’s repeatedly backed dogecoin over bitcoin, ethereum and other cryptocurrencies in recent months, has again gone to bat for the meme-based cryptocurrency.

Musk, the self-proclaimed technoking of Tesla who was once voted dogecoin’s CEO in a tongue-in-cheek Twitter poll, warned over limitations he sees with bitcoin and ethereum, branding them “slow” with “high” costs.



DCO Global News
Published on July 10, 2021
By Odoh Dominic Chukwuemeka




“There is merit [in my opinion] to doge maximizing base layer transaction rate and minimizing transaction cost with exchanges acting as the de facto secondary layer,” Musk said via Twitter, replying to dogecoin investor and YouTuber Matt Wallace.


“[Bitcoin and ethereum] are pursuing a multilayer transaction system, but base layer transaction rate is slow and transaction cost is high,” Musk added.

It’s hoped that bitcoin, via its payments-focused lightning network and a recent upgrade called taproot, will be able to resolve some of its scaling issues, while ethereum, the second-largest cryptocurrency after bitcoin, is in the midst of a long-awaited upgrade that’s not expected to be completed for years.

Musk was replying to a tweet by Wallace that claimed “the dogecoin update is coming soon,” and that it “will position doge perfectly to become one of the most used currencies in the world.”

In May, Musk proposed a dogecoin upgrade that he claimed is “needed [for dogecoin] to become the currency of Earth” and beat bitcoin “hands down.”

The dogecoin price has surged this year, initially riding January’s meme stock wave, but subsequently developing a haphazard community somewhat led by Musk who envision it eventually competing with the likes of bitcoin and ethereum.


Musk, whose irreverent attitude to bitcoin and cryptocurrencies on Twitter has alienated much of the bitcoin community, has previously said all of his dogecoin related comments shouldn’t be taken seriously but has since ramped up his support of it—issuing calls for developer support and promising to put a “literal dogecoin on the literal moon” via his rocket company SpaceX.

Tesla continues to hold more than $1 billion worth of bitcoin it bought near the beginning of the year—though that investment is now thought to be underwater—but Musk has also indicated he personally holds dogecoin.


The dogecoin price, up over 4,000% on this time last year, has fallen sharply in recent weeks as fickle investors on the lookout for the next hot digital asset have lost interest in dogecoin.

The price of dogecoin failed to move in the immediate aftermath of Musk’s latest doge tweet, a marked difference from earlier this year when Musk’s early morning and late night tweets regularly moved the market double-digit percentages.

Over the last month, the dogecoin price has lost some 30% with its sell-off accelerating this past week even as a new Tiger King-branded cryptocurrency added 1,000% due to support from the likes of Wallace who said last weekend he was buying the little-known token.












By Odoh Dominic Chukwuemeka


FOR ADVERT PLACEMENT CALL OR TEXT OUR WHATSAPP NUMBER +886970840314


Click to Follow our website Dco-global-news.com

FB page; DCO Global News

DCO Global News Contacts;
For information on Press Releases, News, Advertisements, Videos, Photos, Events happenings, Promotional Events and Adverts, Share your stories with us, Please Call or Send a Text to our Whatsapp number; +886963563485, +886970840314.
Or send an email to; chionikdom02@yahoo.com, emydom29@gmail.com
(Like and Follow our Facebook Page; DCO Global News)
(Follow us on Twitter; @Dcoglobalnews)
(Follow us on LinkedIn; Dco Global News)
(Follow us on Tumblr; Dcoglobalnews)
(Follow us on Google +; Dco Global News TV)
(Subscribe to our YouTube Channel; DCO Global News TV)
Subscribe to DCO Global News.
Advertise with us.


Send us enquiries, Press releases.
DCO Global News Promotes the Values of Democracy, Human Rights, Values of Life and Freedom of Expression in a Region Where Genuine Media Freedom Remains Elusive and where many Media outlets remain Divided along Ethnic Lines.
Let’s 🚶 Walk the 🚶 Walk 🚶 Together.
Don’t miss a thing, get the latest updates to fuel your conversation daily.


For 2021, DCO Global News commit to another year of high-impact reporting that can counter misinformation and offer an authoritative, trustworthy source of news for everyone. With no shareholders or political owner, we set our own agenda and provide truth-seeking journalism that’s free from commercial and political influence. When it’s never mattered more, we can investigate and challenge without fear or favour.


(Support DCO Global News.)
LET’S HAVE YOUR SAY, LET’S KNOW YOUR THOUGHTS.
LIKE, SHARE AND COMMENT.
TEXT AD: To advertise here.
Call Dominic +886970840314…
© DGN NEWS MEDIA 2021.
All Rights Reserved.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s