The co-creator of DOGE coin defended Elon Musk (CEO of Tesla Inc.), but despite this he believes that there should be no war between cryptocurrencies (bitcoin and meme crypto) and they can peacefully coexist
What Happened: Marcus took to Twitter to say that the apex cryptocurrency and the meme cryptocurrency can help each other as they have done so in the past. He added that Bitcoin is the only reason Dogecoin exists, but called some Bitcoin users “toxic.”
“The only war should be against the jerks, liars, scammers, and toxicity that pollutes the entire space,” Marcus, who goes by the user name Shibetoshi Nakamoto on Twitter, said.
Markus pointed to a Twitter thread from Bitcoin proponent Peter McCormack, the likes of which Musk said make him “want to go all in on Doge.”
“Do you see what being a toxic idiot does to your coin and community?” Markus quipped, noting it to be a “mic drop” moment.
The Dogecoin co-creator also gave a professional tip to Bitcoin supporters who attacked Musk on Twitter for his criticism of the apex cryptocurrency, advising them not to go around “bashing” other people’s coin of choice and to be “genuinely excited” about their coins themselves.
Why It Matters: Created mainly as a joke in 2013, Dogecoin has shot to prominence this year, in major part due to endorsement from Musk.
The Tesla CEO is a big supporter of the meme cryptocurrency and seems to be making a bigger push for its acceptance since last week. The billionaire entrepreneur said that Tesla had abandoned Bitcoin payments but “was looking at other cryptocurrencies that use <1% of Bitcoin’s energy/transaction.”
The potential environmental damage of cryptocurrency mining has been a subject of debate and controversy but several researchers, including those at major Tesla-backer Ark Investment Management, have dismissed such concerns, writes Benzinga. Against this background, the report of scientists from Cambridge seems curious. According to them, conducting one transaction with Bitcoin is harmful to the environment equivalent to 680,000 transfers on the Visa network. If we translate this into more familiar numbers, then just withdrawing a cryptocurrency from a BTC wallet costs the same as watching a video on YouTube for 51,210 hours. Right now, mining Bitcoins requires 80 TW of electricity, which is equivalent to a country with tens of millions of people. Researchers firmly state that just because of this indicator, Bitcoin cannot become a global currency.