Elon Musk Reveals Theory of Bitcoin Creator Satoshi Nakamoto, Admits He Doesn’t Get Ethereum, Issues Dogecoin Mars Prediction Amid Crypto Price Collapse

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Elon Musk, the billionaire Tesla TSLA who has both raised and lowered the price of bitcoin this year, has become one of the most influential people in crypto.

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The price of bitcoin has fallen sharply this week, wiping out over $ 100 billion in value from the combined crypto market. The price of Ethereum also slumped, with some of Ethereum’s biggest rivals leading the market down and memes-based dogecoin losing nearly 10%.

Now, Musk has weighed in on the mystery of bitcoin creator Satoshi Nakamoto, arguing that the true identity of the inventor of bitcoin is not as important as the evolution of the ideas that led to it – and naming the crypto pioneer. Nick Szabo as the driving force behind this development.

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Bitcoin’s Biggest Bull Makes Wild $ 6 Million Price Prediction As Ethereum Rivals Make Huge GainsBy Billy Bambrough

Tesla billionaire Elon Musk, whose tweets often cause sharp swings in bitcoin prices, has denied being … [+] the mysterious bitcoin creator Satoshi Nakamoto.

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“You can watch the ideas evolve before bitcoin’s launch and see who wrote, you know, about those ideas,” Musk told podcaster and artificial intelligence researcher Lex Fridman who asked if he was. Was it a feature or bug that Satoshi Nakamoto’s identity is unknown – “It’s an interesting kind of oddity in human history that there is a particular technology that is a completely anonymous inventor.”

“Obviously, I don’t know who created bitcoin… it looks like Nick Szabo is probably more than anyone responsible for the evolution of these ideas,” Musk said, adding, “he claims not to be Nakamoto… but he seems to be the one who is more responsible for the underlying ideas than anyone else. “

Szabo is best known as the inventor of one of Bitcoin’s predecessors, Bit Gold, and digital smart contracts, which eventually evolved into a key part of the Ethereum blockchain. Szabo has previously denied being Satoshi Nakamoto, telling financial author Dominic Frisby in 2014, “I’m afraid you were wrong in doxing me as Satoshi, but I’m used to it.”

“Maybe the singular figures aren’t even as important as the figures involved in the evolution of ideas that led to things,” Musk told Fridman, asking, “It’s sad to think of history. , but maybe most of the names will be forgotten. What’s the name anyway, it’s a name, a name attached to an idea. What does that mean? “

The disappearance of Satoshi Nakamoto shortly after Bitcoin’s launch has led to feverish speculation over the past decade as to who is responsible for its creation and sparked the broader cryptocurrency gold rush. which has led to the creation of thousands of different pieces.

The mystery of Satoshi Nakamoto meanwhile helped bitcoin to develop as an independent and decentralized technology. Rival cryptocurrency creators, like Ethereum co-founder Vitalik Buterin, have struggled to escape their outsized influence over their projects, raising questions about centralization.

Musk also told Fridman he doesn’t understand Ethereum-based smart contracts, self-executing, blockchain-based contracts that run when certain pre-programmed conditions are met.

“I never really understood how all this smart contract stuff, you know,” Musk said jokingly, “I’m too dumb to understand smart contracts” and saying, “My general approach to any kind of similar agreement or whatever is fair to conclude sure there is clarity of understanding. “

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MORE FORBES’Bitcoin Just Gives Power To New Rich People – Elon Musk Reveals Why He’s Backing Dogecoin On Ethereum Even As Its Price DropsBy Billy Bambrough

The price of bitcoin exploded and collapsed in 2021, hitting nearly $ 70,000 per bitcoin the last time around … [+] months after crashing under $ 30,000 over the summer. Ethereum, dogecoin, and other cryptocurrencies have been even more volatile this year.

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However, Musk went on to predict that dogecoin, a meme-based rival to bitcoin, or perhaps another cryptocurrency, would eventually become the official currency of Mars – something Musk has already hinted at with a proposed project. to use his rocket company SpaceX to “put a literal dogecoin on the literal moon.”

“I think Mars itself will have to have a different currency… I don’t know if Mars would have a cryptocurrency as a thing, but it probably seems likely, but it would be some sort of localized thing on Mars,” Musk said. said, adding: “The future of Mars should belong to the Martians.”

Last week, Musk, who this year called on dogecoin developers to upgrade memes-based cryptocurrency to better compete with bitcoin and ethereum, weighed in in a row across the world. crypto on the Web3, the idea of ​​a decentralized, blockchain-based crypto-based version of the Internet could replace Silicon Valley-centric Web 2.0, revealing why it is ‘pro doge’.

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