URGENT: JUST 7 DAYS REMAIN TO HELP SAVE INDEPENDENT MEDIA & ANR, SO LET'S CUT THE BS & GET TO THE POINT - WE WILL BE FORCED LAY OFF STAFF & REDUCE OPERATIONS UNLESS WE ARE FULLY FUNDED WITHIN THE NEXT 2 WEEKS - Sadly, less than 0.5% of readers currently donate or subscribe to us But YOU can easily change that. Imagine the impact we'd make if 3 in 10 readers supported us today. To start with we’d remove this annoying banner as we could fight for a full year...

Enter email to get Free News Emails

‘Sounds Like BS’—Elon Musk Slams Radical New Tech and Boosts the Price of Dogecoin As Bitcoin and Ethereum Struggle

Facebook
Twitter
LinkedIn
Pinterest
WhatsApp
Telegram

For just $2 per week

AUSTRALIAN NATIONAL REVIEW NEWS SUBSCRIPTION

Join now and receive a free 12-month Subscription to
TruthMed worth $495 USD for free

Opinion pieces don’t necessarily reflect the position of our news site but of our Opinion writers.

[cs_con]

You are not authorized to access this content

Subscribe now for access articles

‘Sounds Like BS’—Elon Musk Slams Radical New Tech and Boosts the Price of Dogecoin As Bitcoin and Ethereum Struggle

By Billy Bambrough

Tesla TSLA -0.9% billionaire Elon Musk, a controversial figure among the cryptocurrency community, has once again endorsed the somewhat satirical bitcoin rival dogecoin—sending its price slightly higher.

The price of bitcoin, ethereum and other major cryptocurrencies are meanwhile struggling, with the bitcoin price failing to regain ground over $60,000 per bitcoin and ethereum’s ether dropping back from around its all-time highs.

Musk said via Twitter that web3—the idea that a decentralized version of the internet that some think could use crypto technology will eventually replace the Silicon Valley-centric web 2.0—”sounds like BS” and flagged dogecoin in a reply to a report that high ethereum transaction fees are locking investors out of decentralized finance (DeFi).

Elon Musk, Tesla, dogecoin, dogecoin price, bitcoin, bitcoin price, ethereum, ethereum price, web3, image

Elon Musk, the chief executive of electric car maker Tesla, has championed dogecoin over the likes of bitcoin, ethereum and other cryptocurrencies this year—sending the dogecoin price sharply higher.

“Average venture returns for investments made in the 2020s are going to be much worse than those from the 2010s,” predicted Sam Altman, the chief executive of OpenAI and a legendary Silicon Valley investor. “There’s a flood of capital, and I have never heard so many price-setting VCs openly say they’re willing to accept much lower return targets.”

However, Altman added “web3 might still have 2010s-like returns … but most VCs will miss it.”

Musk responded, saying “web3 sounds like BS” and “I thought nothing could be nuttier than ‘99,” referring to the late-1990s dot com bubble that saw investors pour billions of dollars into internet-based companies that eventually collapsed.

Meanwhile, Musk continued his support of meme-based dogecoin, tweeting “dooooge” in response to a report from the crypto news outlet Coindesk that eye-wateringly high ethereum transaction fees are preventing smaller investors from being able to access DeFi exchanges.

DeFi, using crypto technology to recreate traditional financial services without the need for banks or financial institutions, has seen a surge of interest in over the last years as investors pile into the space.

This week, Twitter co-founder Jack Dorsey left the social network ostensibly to work on web3 development, as well as his payments company Square—now rebranded Block. Dorsey has previously called for the adoption of decentralized internet and spearheaded bitcoin and decentralized projects at Twitter.

dogecoin, dogecoin price, Elon Musk, Tesla, bitcoin, bitcoin price, ethereum, ethereum price, chart

Elon Musk’s dogecoin tweet sent the dogecoin price sharply higher but it has since dropped back. The price of bitcoin, ethereum and other major cryptocurrencies have also struggled over the last 24 hours

Coindesk reported that data showed the adoption of decentralized exchanges (DEXs), which facilitate peer-to-peer transactions without an intermediary, are restricted mainly to large traders or so-called whales due to high ethereum fees.

Musk has previously said he thinks dogecoin should speed up transactions and lower fees in order to “beat bitcoin hands down”—at one point proposing dogecoin work with ethereum to do this. Ethereum cofounder and spiritial leader Vitalik Buterin indicated he thought the idea could work.

Musk’s backing of dogecoin this year even after Tesla added billions of dollars worth of bitcoin to its balance sheet has divided the crypto community, many of whom see his mostly Twitter-based behaviour as irresponsible.

Musk’s dogecoin support, along with other high-profile investors like Mark Cuban, has helped the dogecoin price soar many thousands of percent over the last year, pushing it into the crypto top ten by value.

The dogecoin price has lost around 70% of its value since it hit a Musk-fueled all-time high in May this year but has managed to hold onto many of its gains—so far defying some of its critics.

Invest in a new global currency Our World Coin that is built to free humanity. Our World Coin is initiative by the people for the people, a force for good & a peaceful revolution, to remove the corrupted Globalist’s control over our nations. For more details, visit https://www.ourworldcoin.org/

Opinion pieces don’t necessarily reflect the position of our news site but of our Opinion writers.

*Note We Deliberately Miss Spell Some Words or Add Capital Letters To Get Around Big Tech Censoring.

Support the ANR from as little as $8 – it only takes a minute. If you can, please consider supporting us with a regular amount each month. Thank you.

Facebook
Twitter
LinkedIn
Pinterest
WhatsApp
Telegram

Related News

AUSTRALIAN NATIONAL REVIEW NEWS SUBSCRIPTION

Join now and receive a free 12-month Subscription to
TruthMed worth $495 USD for free

Subscribe for free to our ANR news emails and access 2 free ebooks plus Reports to share with family and friends about Covid fraud and the danger of the vaccines.

Help us help defend free speech and save democracy from the World Economic Forum planned Totalitarian Great Reset.

and help us expose the Covid Fraudsters

Leave a Reply

Your email address will not be published. Required fields are marked *

We will expose the Covid Crimes of our Governments. Will you help us ?

Play Video

McIntyre Report
Political Talk Show

Episode 161

Episode 161

Get our free News Emails on latest articles, alerts and solutions for both legal templates and ways to help fight back against the Globalists vax Mandates , and health resources to boost your immune system and ways to Protect from deadly EMF 5G radiation and more.

FREE E-BOOKS AND REPORTS ALSO

Documentary: Died Suddenly (2022)

How you can advertise on Truthbook.social

Help us help defend free speech and save democracy from the World Economic Forum planned Totalitarian Great Reset.

and help us expose the Covid Fraudsters

Ukraine. Military Summary And Analysis 23.01.2023

Raw Report

Ryan Jackson Saw show

in USD

in AUD

in GBP

in CAD

Jamie McIntyre

ANR on

Currency Exchange Rates in AUD

Live and updated every minute of the day

Nurses Speak Out

ANR Meme Report

with Nadine Roberts

Episode 002

21st Century Political System

Play Video

Editor's Pick

Thank you for visiting the
Australian National Review

To continue accessing more articles for free simply enter your email address

Watch Full Documentary

URGENT: JUST 7 DAYS REMAIN TO HELP SAVE INDEPENDENT MEDIA & ANR, SO LET'S CUT THE BS & GET TO THE POINT - WE WILL BE FORCED LAY OFF STAFF & REDUCE OPERATIONS UNLESS WE ARE FULLY FUNDED WITHIN THE NEXT 2 WEEKS

Sadly, less than 0.5% of readers currently donate or subscribe to us But YOU can easily change that. Imagine the impact we'd make if 3 in 10 readers supported us today. To start with we’d remove this annoying banner as we could fight for a full year...

Get access to TruthMed- how to save your family and friends that have been vaxx with vaccine detox, & how the Unvaxxed can prevent spike protein infection from the jabbed.

Free with ANR Subscription from $8

Download the Full PDF - THE COVID-19 FRAUD & WAR ON HUMANITY