Musk on Dogecoin and money, with transcript.
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I'm suspicious of Bitcoin as a store of value. Some seem to think that because there is a fixed amount of Bitcoin it will automatically rise in price as demand confronts scarcity, but that assumes there will continued demand. Elon Musk says Dogecoin is better because it has some inflation built in, encouraging people to spend instead of hoard, but adds "I'm not saying that it's the ideal system for a currency" "Elon Musk - SpaceX, Mars, Tesla Autopilot, Self-Driving, Robotics, and AI", Lex Fridman Podcast #252". Clip from a discussion about money starting minute 48:41 this video Lex: You mentioned that Doge is the people's coin. Elon: Yeah. Lex: And you said that you were literally going, SpaceX may consider literally putting a Dogecoin on the moon. Is this something you're still considering, Mars perhaps, do you think there's some chance, we've talked about political systems on Mars, that a Dogecoin is the official currency of Mars, it's the coin of the future? Elon: Well, I think Mars itself will need to have a different currency because you can't synchronize due to speed of light, or not easily. Lex: So it must be complete standalone from earth? Elon: Mars is, at closest approach, it's four light minutes away roughly, and then add for this approach, it's roughly 20 light minutes away, maybe a little more. So you can't really have something synchronizing if you've got a 20 minute speed of light issue, if it's got a one minute blockchain. It's not gonna synchronize properly. I