Bitcoin & Ethereum Are Slow & Transaction Fees High : Elon Musk

Elon Musk again talked about the Demerit of Ethereum & Bitcoin use from the point of efficiency in reply to a DogeCoin update tweet by a Youtuber.

Elon Musk, CEO of Tesla & SpaceX, again talked about Bitcoin , Ethereum & DogeCoin regarding transaction speed & transaction fees. 

It seems that Elon doesn’t want to miss any chance to talk against Bitcoin Or Ethereum to criticize their efficiency.

In the past Tesla companies suspended Bitcoin through their payment option but after many trolls & critics pressure he again Announced, they Tesla will Bitcoin when around 50% of mining energy will be taken from green energy sources.

Related: 56% Bitcoin Mining Firms Are Based On Green Energy, Will Tesla Accept Bitcoin Soon?

Matt Wallace, a popular crypto youtuber, tweeted about DogeCoin. 

” DogeCoin update is coming soon” 

Elon Musk entered in this tweet and replied 

“BTC & ETH are pursuing a multilayer transaction system, but base layer transaction rate is slow & transaction cost is high.

And he further added, they will fix all these demerits for DogeCoin. They will make its base layer transaction rate faster & transaction fees lower.

So Elon again supported DogeCoin blindly. And it has been seen many times that he didn’t miss any chance to criticize Bitcoin and talked about DogeCoin.

The developers are working on DogeCoin efficiency improvements but it is in the initial phase and not much information leaked about it yet. But still DogeCoin supporters are in support of Elon Musk.

But there are some users who don’t miss the chance to criticize Elon Musk. 

A random user criticized Elon Musk and said DogeCoin will be centralised that it will rely on few trust nodes.

Read also: Bitcoin Is Miracle & Better Than Gold : Apple Co-founder