Elon Musk reveals Bitcoin inventor Satoshi Nakamoto’s theory, admits he doesn’t “get” Ethereum, and issues Dogecoin Mars prediction amid the crypto price crash
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Elon Musk, the Tesla TSLA billionaire who both shot up and crashed the price of Bitcoin this year, has become one of the most influential people in the crypto space.
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Bitcoin price has fallen sharply this week, wiping over $ 100 billion worth of the combined crypto market. Ethereum price has also fallen, with some of Ethereum’s biggest rivals taking the market down and the meme-based Dogecoin losing nearly 10%.
Now Musk has discussed the secret of Bitcoin inventor Satoshi Nakamoto, arguing that the Bitcoin inventor’s true identity is not as important as developing the ideas that led to it – and crypto pioneer Nick Szabo as the driver of this development designated.
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Tesla billionaire Elon Musk, whose tweets often cause wild Bitcoin price swings, has denied this … [+]
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“You can see the evolution of ideas before Bitcoin was launched and see who wrote about those ideas,” Musk told podcaster and artificial intelligence researcher Lex Fridman, who asked if it was a feature or a bug act that Satoshi Nakamoto’s identity is unknown – “It is an interesting quirk in human history that there is a certain technology that is a completely anonymous inventor.”
“Obviously I don’t know who created Bitcoin … it seems like Nick Szabo is probably more responsible than anyone for developing these ideas,” said Musk, adding, “He claims not to be Nakamoto … but he appears to be more responsible for the ideas behind it than anyone else. “
Szabo is best known for inventing one of the predecessors to Bitcoin, Bit Gold, and digital smart contracts, which eventually became an important part of the Ethereum blockchain. Szabo has previously denied that he is Satoshi Nakamoto, telling financial writer Dominic Frisby in 2014, “I’m afraid you got me dozing off as Satoshi, but I’m used to it.”
“Perhaps individual characters aren’t even as important as the characters who are involved in developing ideas that lead to things,” Musk told Fridman, and asked, “It’s sad to think about the story, but maybe they will Most of the names forgotten. What is the name? Anyway, it’s a name, a name that is connected to an idea. What does that mean anyway? “
The disappearance of Satoshi Nakamoto shortly after the introduction of Bitcoin has fueled feverish speculation over the past decade about who is responsible for its development and sparked the broader cryptocurrency gold rush that resulted in the creation of thousands of different coins.
The Satoshi Nakamoto mystery has since helped Bitcoin evolve as an independent, decentralized technology. The creators of rival cryptocurrencies, like Ethereum co-founder Vitalik Buterin, have struggled to escape their oversized influence on their projects, raising questions about centralization.
Musk also told Fridman that he doesn’t understand Ethereum-based smart contracts – blockchain-based, self-executing contracts that execute when certain, pre-programmed conditions are met.
“I never quite understood how this whole smart contract thing, you know,” joked Musk. “I’m too dumb to understand smart contracts,” and said, “My general approach to any kind of similar deal or whatever Always making sure there is clarity of understanding. “
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However, Musk went on to predict that meme-based bitcoin rival Dogecoin, or perhaps some other cryptocurrency, will eventually become the official currency of Mars – something Musk previously 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 has 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 kind of localized thing on Mars,” Musk said, adding : “The future of Mars should be left to the Martians.”
Last week, Musk, who this year urged Dogecoin developers to update the meme-based cryptocurrency to better compete with Bitcoin and Ethereum, contributed to a crypto-wide series via Web3 – the idea of a decentralized crypto and blockchain-based version of the Internet could replace the Silicon Valley-centric Web 2.0 – and shows why it is “Prodoge”.
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