Elon Musk: Bitcoin vs Dogecoin | Lex Fridman Podcast Clips

Lex Fridman Podcast full episode: • Elon Musk: SpaceX, Mar...
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Elon Musk is CEO of SpaceX, Tesla, Neuralink, and Boring Company.
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[@LexClips]

Thanks for watching this clip. Full podcast with Elon Musk and Lex Fridman is here: kzbin.info/www/bejne/eqm1dqBpqJammaM

[@StynDc]

What about lightning network transactions though? I'm not super familiar with the difficulty of implementing this technology on a large scale, but isn't that the way they do payments in el Salvador? If they can do it in a third world country it seems hard to believe that it isn't a viable option to do it world wide. Not an expert ofcourse, just wondering.

[@ianniculescu1625]

Yes totally, LN is a very genius protocol completly decentralised where you bassically exchange the ability to make a transaction on first layer. The technology is already here you can be your own LN node. the reel problem i see is Public blockchaines are surveillance coins this is very scary, governments and big corporations are spending hundreds of millions to be able to track everything on chain. We need privacy coins like Monero to gain mass adoption.

[@GODHATESADOPTION]

Bitcoin is too expensive and slow so they use algorand everyone needs some monero

[@michaelbaker1821]

Yes Elon clearly isnt aware of the LN - Bitcoin transactions are cheap now (literally like 50p max) and fast!

[@michaelbaker1821]

@@GODHATESADOPTION Bitcoins new lightening network makes BTC transaction fee silly cheap and fast, stop trying to shill your shitty algorand!! lol

[@kenneths4156]

Wouldn't be shocked if these two were having their own side conversation telepathically while recording this

[@englishthought1360]

No

[@MikeJones-mf2fw]

@@englishthought1360 Yes

[@Estado_Alterado]

You can tell Elon still doesn’t fully understand BTC.

[@cab4cash]

You can tell the writing is on the wall for an out of date technology. We aren’t all still playing Atari gaming consoles. BTC is a proof of concept, not more.

[@jussim.konttinen4981]

BTC is good for places that suffer from natural disasters, otherwise real estate is always better than any currency

[@crazytrain848]

So don’t buy and hodl Doge, got it.

[@mattjames9515]

surprising how little elon knows about money and Bitcoin (block size wars, layered architecture, lightning network, why theft/inflation makes for an inferior store of value / money)

[@alanross2876]

Are you familiar with BSV?

[@scroogemcduck1462]

He knows nothing about crypto. He suggested simply scaling DOGE by increasing the blocksize. ANY blockchain could do that, but then you get state growth, then you can't maintain a high level of decentralization, and then your crypto isn't a good alternative to fiat because you're just putting your trust in a new centralized entity. He was also clueless about smart contracts, he thought they were legal contracts...

[@Robinson8491]

You mean all these interesting marketing terms with zero relevance to shill you their coins and not disband them and leave them shitty things behind as they should be treated?

[@jimmyrhoades650]

I know nothing of crypto but I feel as if it’s very unlikely Elon truly knows little. Do you think it’s a possibility that maybe he is speaking in laymen’s just for a simpler, more digestible answer. Possibly that if you came at him with your nerd words he may have a fuller, more articulate version for you.

[@scroogemcduck1462]

@@jimmyrhoades650 No, he really doesn't understand crypto like at all. From the responses here it's very obvious that this is painful to his loyal fans, because Elon is really great and the best at everything right? But I'm sorry to break it to you, he's embarrassingly clueless about crypto. I would be happy to explain it all in great detail, but if you're also clueless about crypto, how would you be in a position to tell whether or not what I told you was correct?

[@jimreynolds1717]

Once you get a bit deeper into crypto you quickly realise the closest analogue Bitcoin has is gold. It's not that you couldn't pay for things in gold or sell some gold for some fiat to make a purchase, but the vast majority of time you hold gold as a store of value. It's not the medium of exchange you use to buy and sell everyday goods and services. It doesn't really suit that purpose as it's costly to move around and slow to process. Bitcoin is similar in a digital sense. Other crypto currencies like Dogecoin are far better suited for lots of transactions with very low fees at a fundamental level. If you look a bit further into what he's saying, you realise he isn't even dissing Bitcoin, he's just saying Bitcoin won't be what we use for everyday transactions in the crypto space. TLDR Bitcoin = Gold Dogecoin = Fiat money

[@The5GIO5]

Are you all in doge? Isnt it a safe move considering what I just learned from your comment?

[@XForbide]

Bitcoin can’t be gold because it’s has no intrinsic value. It only has value because a bunch of other ppl think it has value. Assets like property, gold, cars etc have value because they solve problems. Bitcoin does absolutely nothing. It’s intrinsic value is 0. And the fact that we’re wasting so much energy, real value, mining something with no intrinsic value s just terrible. BTC isn’t poised to survive in the future

[@XForbide]

And to add it’s also too volatile to be a good store of value. Like You’re buying gold specifically because it’s price Is relatively stable

[@thumbsdownbutton8400]

"80% of crypto owners have never sold"

[@cryptocurrent8106]

either I am too dumb or his answer was dumb. Doge coin also goes up in price when many people buy it that why we need a stable coin for every day use.

[@ThePredatherion]

That's because you are thinking about something going up in price ($) whereas Elon is talking about something going up in value. Those are two different things! Stablecoins are not suitable for everyday use unless you just want to accept that your everyday currency is always losing value at a staggering rate. If you are willing to accept that, then there is no point in having cryptocurrencies at all. By the way, I am not arguing for or against Dogecoin here but I can see where Elon is coming from. In a future world where we move to a crypto system rather than a fiat system, Bitcoin could be more akin to gold or virtual real estate whereas Dogecoin (or the lightning network, or some other coin, but certainly not raw Bitcoin and least of all dollar-pegged stablecoins) could be a currency for everyday use.

[@MikeJones-mf2fw]

@@ThePredatherion (Mando voice) This is the way.

[@cryptocurrent8106]

@@ThePredatherion are you thinking of stable coins being pegged to US $ when you say they lose value? DJED for example will be pegged to a algorithm of crypto currencies and not to the US$. Even if you think in Value rather than price against fiat, you would still have huge fluctuations against other cryptos which would make any current regular token not a good candidate for everyday trading.

[@mixingworlds]

Oh my lord can't wait for Charles Hoskinson's reaction to this video 🤣🤣

[@JacuzziSurfer]

😂😂

[@sku7842]

😂

[@xxTech50xx]

Guessing just a massive cringe. This was hard to watch lol.

[@AuburnMist]

And to think some believe Elon is satoshi !! He’s a good liar of that’s the case

[@JesusChrist-zj7xw]

Well Garlicoin is 95% mined since 2018, 4 cents rn, ath 2.71, it's a hard fork of litecoin, cheap transaction volume as well

[@alexleach4002]

Garlickin is clearly the future of money.

[@onurselvi8273]

Tidecoin is !!

[@brandorambo6644]

Lex interviews Elon much better than Joe.

[@thestockfother]

Agreed. Because joe is a bit too fleeting and extroverted to be technical with elon

[@ghostpiratelechuck2259]

Lex interviews everyone much better than Joe.

[@brandorambo6644]

@@thestockfother Joe definitely does not know how to ask a engineer the right type of questions. I thought Joe bombed on his first interview with Elon.

[@OfficialNattyOrNot]

I would sure hope so. Joe is a good conversationalist. Lex is more technical in the sense that he has a PhD in computer and electrical engineering. So the lenses in which they view the world through are entirely different.

[@SnailHatan]

That’s because Joe doesn’t interview. You still haven’t figured that out?

[@danirwin624]

I think I'll buy some doge on bfx now. It looks like the price may rise in 2022

[@GarrettCodes]

Lex has to be cringing hard while Elon seriously tries to rationalize dogecoin over bitcoin. Let’s just ignore the open source contributions made to bitcoin since it was created

[@warmijo10]

#doge #dogecoin #DogecoinToTheMoon #dogearmy #doge1 #doge1tothemoon #acceptdoge NEVER doubt Elon!

[@crazytrain848]

Dude, he just said is not a good idea to hodl Doge.

[@ronburgundy4375]

Doge would be better or on par with the best of the cryptos if it had a store of value.

[@blast3028]

I don't think dogecoin is viable but to be fair Elon is arguing that it has a better use case as a currency than as a store of value. However I personally think doge is a terrible option for this.

[@wileycoyote3853]

xrp and xlm are faster by alot and cheaper and use almost no electricity compared to btc or eth or doge

[@SuperGuirro]

>xrp schizo lmao

[@xrpnick6828]

The standard

[@goldenbanjo197]

He is totally wrong about the things he says about dogecoin. Plus has he even heard about lightning?

[@Matnabz]

elaborate

[@iamski]

Golden don't be that naive, he's doing exactly what all scam artists do when it comes to a majority of cryptocurrencies are. He's artificially hyping the product. The mere fact that a meme coin actually has any value whatsoever is a testament to how easily someone with time, money, and patience can do to pump up any product with no value , especially a joke currency. It's the same thing with NFT's how people are convinced that owning a jpeg which is freely available to anyone on the internet has value. When in reality it's a Elon is not stupid, he's preying on the uneducated and fools and it's working brilliantly. So in essence he's not wrong, he's just your 21st century version of a snake oil salesman. Don't dismiss the strategy at play here, this is what is transpiring but the younger memecoin fanboys refuse to acknowledge this reality because it reveals how gullible they are.

[@villageidiot9729]

Lex and Elon, Thank You. Could you please interview Mark Twain and Benjamin Franklin soon. These interviews are changing our country for the better.

[@ashchapmantv6792]

Bruh what

[@yena-wq4jd]

penny saved, penny earned

[@vinsonwood7095]

Hmm, i dont think Elon researches cryptocurrency and blockchain technologies at all lol.... He's to busy with his own thing (Tesla, Space X). His explaination sounded like he asked someone in the crypo space for a quick explanination by someone biased... who knows tho, its just the feeling and tone i felt.

[@Robinson8491]

How much more complicated does it get according to you? It's pretty straight forward

[@PR-ko2ph]

Dogecoin is as straightforward as fiat currency. Most other cryptos are too technologically fancy/impractical for real world usage

[@CardsOnDeck]

Elon- “Just by accident”

[@jboss1314]

STELLAR XLM ..PPL GONNA MISS OUT ON THE NEW CHOICE OF CRYPTO CURENCIES 🌞🌍🌛

[@carbonfibercrypto2919]

i feel like this is his 3D chess move to divert suspicion away from himself as Satoshi

[@machsaga5141]

EXACTLY!!!

[@powerofthetime]

Even though it may feel like it; you're not smarter after you listen to Elon Musk

[@JenningsPutnamArt1991]

Hello!

[@shakenbake6303]

Bitcoin is freedom money. I would take freedom for 5x than dog coin for 50x.

[@warmijo10]

Then you don't know simple math! That comment was DUMB 🤣🤣🤣

[@shakenbake6303]

@@warmijo10 you dont understand Bitcoin. Dont feel bad. Most dont.

[@mendoblendo321]

Btc back to 6k

[@abou8963]

Elon influences people. I respect the Technoking but I think decentralization will result in destability. Ask Greece, Turkey, and the women in Iceland.

[@jayfinne626]

What!? 😂 the problem with Greece and turkey was literally the centralization of their financial systems

[@abou8963]

Acrimonious relationships, debt, lack of respect and coordination of authorities. Basically greed and power struggle. If the govt representatives cannot handle diplomacy, how do you expect individuals to cooperate? The global governance can't even agree on a global plan for pandemic containanment, human rights, and space exploration.

[@abou8963]

@@jayfinne626 I think the sheer number will lead to chaos and breakdowns.

[@jayfinne626]

@@abou8963 dude just please don’t buy bitcoin, save fiat lol 😂 what Greece and turkey had was debt based fiat currencies controlled by a central bank. If you never question the problem, you’ll never find the answer.

[@manmorg]

Either I know more about bitcoin or Elon is a bad actor.

[@Spaceandfuture.]

You mean "Mother of crypto vs. hypecoin?" 😋

[@warmijo10]

And I'm sure you know more about space and future than Elon, right? Eat #Doge SH*T, BRAAAAH😯

[@AvidDoes]

Stellar and XRP are the ones. You're welcome. Within 10 years a major part of the population will be using these. Low transaction fees pennies on millions of dollars and instant.

[@SuperGuirro]

>xrp schizo meds -> take'em

[@pudgeederek]

Stellar to the mooooon

[@AvidDoes]

@@SuperGuirro I can teach you but I can't learn it for you ...

[@SuperGuirro]

@@AvidDoes Imagine having a coin that is centralized and needs fed audits. Not a maxi, but this wouldd never happen with Bitcoin. All you care about is "coin go up".

[@AvidDoes]

@@SuperGuirro fed audits is the exact opposite of decentralized... Have a good day sir. I'm not in this for money I got that. I'm in it for the future of humanity

[@ahmedalsharman]

Dogecoin is the bitcoin killer

[@jasonhuman4156]

Aww man hes full of it. Lightning network 👀

[@derrybrooks7197]

Xrp

[@Cosmo87-]

Ok all, it’s been fun but it’s time to convert your BTC into DOGE.

[@strikerbowls791]

Elon founded Dogecoin

[@peterpetrov6522]

Market caps of Tesla and Bitcoin: $1 T. Market cap of Doge and Kia: $20 B. "Transactions"...........Kia sells 2.6 M cars per year. Tesla sells 0.5 M cars per year. So if you want to bet on the future success of Kia and Dogecoin, nobody can stop you!

[@TheTunnel]

Sum the video up in 5 seconds = Dogecoin is cheaper and faster with transactions… Big deal Elon.. so are many coins

[@iancostello3923]

But do they share the same transaction volume?

[@tet2755]

Yes! Elon understands Gresham's Law: bad money chases out good money. If you're a Bitcoin maxi (or anyone who believes coins should be deflationary) then you should take time to digest that. Milton Friedman has a great video on this. One thing that is constant with money: what is accepted as money is always changing. Imagine if one person was able get a hold of 100% of all US dollars, and the Fed didn't make more. What would happen? The world would just starting circulating something else. The value of the dollar would go to zero.

[@revo1974]

Elon holds a lot of BTC. He was the primary market maker in the first half of 2021 when BTC went to 65k and down to 30kish. He implemented a textbook Wyckoff Distributon strategy and made a ton of money. He pumped it up with positive news (eg Tesla holding on to BTC and Tesla accepting BTC). Then dumped it with negative news.

[@MikeJones-mf2fw]

@@revo1974 wow he understands leveraging. He's still right about it

[@marianodidio3170]

that doesnt translate to crypto because you can divide cryptos all you want and still make all the transactions you want, if someone removes a lot of currency from circulation it just gives more value to the remaining coins in circulation.

[@tet2755]

@@marianodidio3170 I disagree. If fractions of a bitcoin increase in value to make up for the supply of bitcoin that’s exited circulation, the whale holding it can always sell it on the market, capture its value, and drive the price back down. That would not be sustainable for everyone trying to use it as money. This is what happens when the Fed prints money but people don’t turn around and spend it. The inflation magic trick can only be performed by the consumers. If everyone just took their stimulus check and put under the mattress, inflation wouldn’t take hold.

[@TheseusMinor]

If only he knew about XLM and XRP

[@Litboge]

lol

[@leonardoreyes8235]

What's xrp?

[@wileycoyote3853]

exactly

[@thestockfother]

I've been seeing a lot of stuff and hearing talk whenever I go out about this bitcoin. Do people really think this crazy new thing is the future? Another old timer at my gym says it's supposed to be another form of gold but, idk about all that lol.

[@OfficialNattyOrNot]

XLM especially.

[@babydragon2047]

Dogue-ee

[@d.o.g.e.6962]

Dogecoin to the moooooooon!!! Do Only Good Everyday. The people's currency. Strap in ladies and gentlemen Doge is going gonna shock the entire 🌎

[@ghostrider764]

I hope there is one last big spike. Cash in and get out

[@d.o.g.e.6962]

@@ghostrider764 it's coming fam!! LITERALLY HODL

[@hiennganguyen6364]

If any e-coin isn't backed by gold to reserve its value, that crypto-currency is just a joke of gamble.

[@gaijin.3644]

You missed the whole point of crypto

[@hiennganguyen6364]

@@gaijin.3644 Gaijin, what is the main point of crypto? To hide money transactions? To invest? What else?

[@deenzmartin6695]

cringe af

[@NotraNaum]

Does this guy really believe that dogecoin devs figured out something that Bitcoin devs havent? The arrogance and/or willful ignorance from this guy in regards to crypto is astounding.

[@TimoRutanen]

Do you think they maybe benefit from 15 years of tech advancement in the field?

[@NotraNaum]

@@TimoRutanen No, Dogecoin is a copy and paste of Bitcoin with a few tweaks to the parameters. It incorporates no 'technical advancements'. In fact when dogecoin got popular last year the fees became multiple dollars per transaction. Scaling consensus networks is not a cut and dry thing, it is a matter of trade offs if you wish to preserve security and decentralization.

[@TimoRutanen]

@@NotraNaum That may be. I'm not a crypto expert.

[@Kara-xj1yc]

*When it comes to the world of investing, most people don't know where to start. Fortunately, great investors of the past and present can provide us with guidance*

[@lilianmacarthur5465]

There are platform where you can invest and they trade your money. Then pay you profit either weekly or monthly. That's investing.

[@lilianmacarthur5465]

Investing in stocks is a good idea,but a good trading system would put you through many days of success.

[@sherrydubay7386]

I have seen a lot of recommendation about Charles Schwab, Please how do i get in touch with Mr Charles? I would love to trade $2000 with him

[@jonhall2274]

TO EVERYONE WHO SEE THIS, THEY'RE *ALL SCAM BOTS* not a *SINGLE "PERSON" * that has commented is real, just apart of the unoriginal *SCAMMING SCHEME* , that all the other unoriginal *SCAM BOTS* use, even their *SCAM* dialog is not original. Just the *SCAMMERS* used multiple *BOTS* to try and make it look authentic. ALL SCAMS

[@mistercoopa]

And really bad ones at that.

[@teddonaville1151]

thank you for shilling my doggies elon so i can dump them on sb else at a $$$ profit

[@albertclemente8158]

Just watch what Charles Hokinson said about Elon and you'll understand why Elon supports Doge. He knows what he's doing when promotes Doge, it's clear he's holdong BTC....

[@alexleach4002]

link?

[@albertclemente8158]

@@alexleach4002 kzbin.infoJDksJi1AqJQ?feature=share

[@Solariss]

Does he just forget about all the other altcoins that are astronomically better than doge

[@peterblanch2603]

A lot of butt-hurt bitcoin cheerleaders here. 😂

[@Alcheringa_Fall]

Small block size was never in the white paper and Elon knows this. Craig Wright is Satoshi and Elon knows this.

[@NoName-us3nb]

If only he knew about Nano

[@slackwatkins]

Lol wow he really knows very little about crypto.

[@thomasreaves588]

That is because he has billions of DOLLARS!

[@lukaskywalker7646]

dogecoin all day.

[@hypersapiencollective1751]

Bruh. Lex is shilling for musk. I would not be surprised at all if musk funded this podcast. Anyone listen to the first thing lex said? He was reading a script

[@Bartokomous]

Lex reads from his notes quite often.

[@nothingtoseehere96]

Lex often reads in the beginning of podcasts. You must not watch Lex. Doesn't matter who he's interviewing.

[@mateolorenzo3716]

Earned $80k in just a week

[@mateolorenzo3716]

@Howard Daniel’s You have to get more experience first, work with a professional on crypto to guide you step-by-step.

[@mateolorenzo3716]

@Howard Daniel’s whts ap

[@mateolorenzo3716]

十🄂🄇🄆🄈🄃🄃🄂🄈🄅🄇🄄🇺🇲 🇺🇲 🇺🇲

[@mateolorenzo3716]

let him know what you want Samuel Leach that's what his called

[@mateolorenzo3716]

@Marvin Favis To me it is, been working with him for a year and four months. And I have been getting my profits seems legit to me🤷🏼‍♂️

[@yorhinas101]

Doge to the moon 🚀🚀🚀

[@iveelt]

Ridiculous. I have less and less respect for Elon.