Dogecoin Co-Creator Amid Elon Musk Criticism Says There Should Be No 'War' Between Bitcoin And Meme Crypto

May 17, 2021 2:02 am
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More
Dogecoin Co-Creator Amid Elon Musk Criticism Says There Should Be No 'War' Between Bitcoin And Meme Crypto

Dogecoin (DOGE) co-creator Billy Marcus has defended Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk following his criticism of Bitcoin (BTC) but believes the two cryptocurrencies can coexist and there should be no "war" between them.

What Happened: Marcus took to Twitter to say that the apex cryptocurrency and the meme cryptocurrency can help each other as they have done so in the past. He added that Bitcoin is the only reason Dogecoin exists, but called some Bitcoin users “toxic.”

See Also: How to Buy Dogecoin (DOGE)

“The only war should be against the jerks, liars, scammers, and toxicity that pollutes the entire space,” Marcus, who goes by the user name Shibetoshi Nakamoto on Twitter, said.

Markus pointed to a Twitter thread from Bitcoin proponent Peter McCormack, the likes of which Musk said make him "want to go all in on Doge."

"Do you see what being a toxic idiot does to your coin and community?" Markus quipped, noting it to be a "mic drop" moment.

The Dogecoin co-creator also gave a professional tip to Bitcoin supporters who attacked Musk on Twitter for his criticism of the apex cryptocurrency, advising them not to go around “bashing” other people’s coin of choice and to be “genuinely excited” about their coins themselves.

Why It Matters: Created mainly as a joke in 2013, Dogecoin has shot to prominence this year, in major part due to endorsement from Musk.

The Tesla CEO is a big supporter of the meme cryptocurrency and seems to be making a bigger push for its acceptance since last week. The billionaire entrepreneur said that Tesla had abandoned Bitcoin payments but “was looking at other cryptocurrencies that use <1% of Bitcoin’s energy/transaction.”

The potential environmental damage of cryptocurrency mining has been a subject of debate and controversy but several researchers, including those at major Tesla-backer Ark Investment Management, have dismissed such concerns.

Bitcoin has lost 6.4% during the past 24 hours and is trading at $44,952.47 at press time. Dogecoin is down 7.1% during the past 24 hours and is trading at $0.4933 at press time.

Read Next: Elon Musk Says Tesla 'Looking At' Other Cryptos That Use Less Than 1% Of Bitcoin's Energy. Which Could Be It?

Photo by Forextime.com on Flickr

For the latest in financial news, exclusive stories, memes follow Benzinga on Twitter, Facebook & Instagram. For the best interviews, stock market talk & videos, subscribe to our YouTube channel.

Related Articles

Dogecoin-SpaceX 'To The Moon' Mission Will Involve Selling 'Space Art' As NFTs

Elon Musk’s SpaceX and Geometric Energy Corporation’s plans to send a “DOGE-1 Mission to the Moon” also has a non-fungible token or NFT angle, Hypebeast reported Wednesday. read more

This Crypto Startup Aims To Become 'The Greenest Blockchain' To Fight Rising Environmental Concerns

Algorand (CRYPTO: ALGO) is focusing on its green credentials and hoping to attract the attention of environmentally-conscious companies, such as Elon Musk's electric car manufacturer Tesla Inc. (NASDAQ: TSLA). read more

Bitcoin Bull Michael Saylor On Ethereum, Altcoins Says 'There Is Place For Everybody'

MicroStrategy Incorporated (NASDAQ: MSTR) CEO Michael Saylor said there is a place for all cryptocurrencies in an interview with CNBC’s “Fast Money” program Tuesday. read more

Coinbase Co-Founder Says Don't Be Quick To Dismiss Dogecoin. A 'Good Meme' Can Manifest Into 'Concrete Progress'

Cryptocurrency exchange Coinbase Global Inc.’s (NASDAQ: COIN) co-founder Fred Ehrsam feels that a “good meme” like Dogecoin (DOGE) should not be dismissed quickly as it could later manifest into more “concrete progress.”   read more