Elon Musk Approves of Potential Dogecoin Fee Reduction, Calls It Important Improvement
Tesla CEO Elon Musk, who is the biggest and the most influential Dogecoin supporter in the community, has made a contribution to a discussion about attempts to reduce DOGE transaction fees.
One of Dogecoin developers, Ross Nicoll, has tweeted that he intends to convince naysayers about the devs being able to reduce the current DOGE transaction fees.
Elon Musk commented on that, saying that a reduction of fees would be an important improvement.
Earlier, U.Today reported that the Tesla CEO was working with Dogecoin developers to improve the coin’s transaction efficiency.
Ross Nicoll is one of those devs.
Back in mid-May, Musk shared his vision of how Doge parameters could be improved to make it a better payment unit than Bitcoin. Among them was reducing the DOGE transaction fees by 100 percent. Ideally, according to Musk, Dogecoin should be quick enough and its transaction fees cheap so as buying a cup of coffee with DOGE would not cost more than the coffee itself.
MicroStrategy CEO, Michael Saylor, objected to Musk back then, stating that the world needs a decentralized and secure store-of-value (referring to Bitcoin) much more than a centralized, less secure and inflationary medium of exchange (referring to DOGE).
The world needs a decentralized, secure, deflationary store of value like #Bitcoin much more than it needs the more centralized, less secure, inflationary medium of exchange that you describe above.