New Dogecoin (DOGE) and Bitcoin (BTC) Explained by Elon Musk: The Business Is Heating Up!

Elon Musk keeps chasing DOGE.

By responding to a tweet by a DOGE investor , Musk also showed that he is currently actively following the industry. In the tweet of the user comparing Dogecoin and Bitcoin, it is emphasized that DOGE is actually better than BTC.

Elon Musk Continues DOGE and BTC Benchmarking
Elon Musk, who was seen as included, responded to this and emphasized that DOGE could reduce transaction fees by 100 times by increasing the block speed and size by 10 times, and thus "would win by far. Dogecoin, which copied 99% of both Bitcoin and Bitcoin's code, determined the block size as 1 megabyte. The larger block size is overridden by the network.

It is known that the biggest difference of Dogecoin compared to Bitcoin is its transaction speed. While the block and transaction speed in the Bitcoin network was determined as 10 minutes, this was determined as 1 minute for Dogecoin. With this statement, Musk definitely shows that DOGE is determined to change its code.

As of May 15, a single DOGE transfer is worth an average of $ 1.59, 824% higher than three months ago, Elon Musk said in the continuation of this interesting plan, DOGE could indeed be the currency of the world.

The famous billionaire stated that 100 times more transaction volume and 100 times lower transaction fees actually mean that transaction fees from the network will remain the same. The low transaction fee and high volume are enough to become the world's currency, according to Musk.

Bitcoin price, on the other hand, is not decreasing after these statements, but on the contrary, it is rising. BTC gained 1.7% in 24 hours.