In yet another appearance on a famous podcast in the United States, Elon Musk explained why Dogecoin cannot be the official currency of Mars.
In public speaking about the meme currency, Elon Musk often refers to Dogecoin as his favorite currency in the cryptocurrency market. He has already revealed to be an investor in Bitcoin, Ethereum and Dogecoin in the past.
However, as a fan of this community, he recently stated that Tesla will be accepting this as a payment method soon, with testing already underway. Either way, your preference shouldn’t travel through space with it.
Elon Musk explains why Dogecoin will not be official currency of Mars
Excited about arriving on Mars in the next few years, Elon Musk always talks about it when he can. CEO of SpaceX, he is one of the space entrepreneurs looking to reach the planet, with the dream of colonizing the place.
On past occasions, Musk has even said that it is necessary for more people to be born on planet Earth, as many will migrate to Mars. But in a debate with Lex Friedman, published this Tuesday (28), the richest man in the world revealed his thoughts on the future of the fourth planet from the Sun.
In his opinion, when Mars is colonized, it will belong to those people who inhabit it. In other words, Martian laws and civilizations will not be subject, according to him, to rules present in countries on Earth.
Another point discussed by him is about the local currency of Mars, at which point he was asked by Lex if he believes that Dogecoin would be his choice, a currency that Musk has already promised to take to the moon.
In response, surprising fans of the dog meme coin, Elon Musk revealed that it’s impossible for Dogecoin to be the coin of Mars.
“I think mars will need to have a different currency because you can’t synchronize due to the speed of light. Mars is between 4 to 20 minutes, at the speed of light, away. So you can’t have something syncing to 20 minutes on a 1-minute blockchain [por bloco]”.
Billionaire believes that Mars will have a cryptocurrency
Although Elon Musk doesn’t believe it’s possible to synchronize the Dogecoin network from Mars, he does believe that the new planet to be colonized will have a cryptocurrency in the future.
Asked what the future on the planet will be like, he informed that he will not decide alone, but with the population that will live there.
“I don’t know if mars will have a cryptocurrency, but it probably will, but it will be something located on mars. I think cryptocurrencies are an interesting approach to reduce error in the database called money. I think I have a broad understanding of what day-to-day money through PayPal really is, I really went into it.”
While Musk doesn’t help colonize Mars and puts his most ambitious plan into practice, Dogecoin’s land market continues to trade the currency in the market, which is down 8% on Tuesday at $0.17.