Why Ethereum & Cardano ADA founder Hoskinson Loves Dogecoin DOGE (REVEALED)

why ethereum and cardano ada founder hoskinson loves dogecoin doge elon musk loves doge but there's someone else who loves doge too today we're going to talk about the eth and ada founder hoskinson and why he loves doge stay tuned to find out hi cardano lovers welcome to cardonaland your daily dose of cardano if you're interested in everything around cardano this is the place for you make sure to hit the like button and subscribe for us to provide you with more cardano news and let us know in the comments how much you think cardona will cost next year or next month or maybe even next week let's get to it charles hoskinson the co-founder of ethereum and founder of cardano has posted a step-by-step video guide on how elon musk can help doge developers to fix the dogecoin tesla ceo elon musk recently announced that he was working with dogecoin developers to improve the currency and that it's potentially promising charles hoskinson said that dogecoin is a reasonable target for someone to fix it up and make it an interesting cryptocurrency this comes after billionaire elon musk has been hyping the cryptocurrency including calling himself the ultimate holder who won't be selling off his tokens hoskinson also says that the coin has potential and said that if developers get on board it could see more real world uses that make it more viable so at least it has a value floor and won't collapse in the last six months the price of dogecoin has been hugely volatile and investors can't be sure how long the current value will last hoskinson was not even against the idea of a collaboration between cardano and dogecoin and even loved it saying working together would be a lot of fun but the 33 year old had a word of caution too he said that the tesla ceo's influence over doge's value may hurt retail investors significantly someday if the currency's code base wasn't improved musk on the other hand has single-handedly dominated the digital currency arena and now possesses the power to influence their value with his tweets a while ago the tesla and spacex ceo tweeted found this pic of me as a child the picture included a picture of an old computer and other gadgets and that was enough to raise the value of dogecoin by 15 but it's not that musk has always been a vocal supporter of the dog themed currency in may the billionaire on a talk show said that dogecoin was a hustle in march tesla started accepting bitcoin as a mode of payment to purchase their cars only to suspend it in may musk put out a statement from tesla that it was concerned about the rapidly increasing use of fossil fuels for bitcoin mining and transaction and hence was suspending vehicle purchases using the cryptocurrency musk is playing with doge in the whole crypto market hoskinson also said that if musk is serious about doge it requires a complete code overhaul that would make it similar to other assets such as solana this is also not the first time that hoskinson noted that doge needs fixing in may he even gave advice on how to do it once again directing it at elon musk back then he argued that doge needs a system similar to btc and that a similar structure to bitcoins would allow it to process 10 000 transactions per second it should be mentioned that this advice was given in direct response to musk's question on how to fix an improved doge tesla ceo revealed that he's working with the doge devs and that they're looking for ideas and inspiration when asked about dogecoin and the hype it has got by musk's endorsement hoskinson made some arguably critical points about the token and its use case dogecoin started as a parody but it has grown into such a massive thing according to hoskinson that it is a viable target for someone to fix it up mend it and turn it into intriguing crypto he says it's really hard to build crypto with a good use case and questions what the use case dogecoin has he said what's the point of doge is it just a meme is it just contending to be useful or is it competing as a store of value against bitcoin he goes on to say that if doge wants to be of store value why does it have the monetary policy that it does he also asserts that doge has a predatory distribution with over 90 consolidated in the hands of less than one percent of holders at a very low price if these investors start selling and profiting it will impact retail investors hoskinson also has a hiding plan for cardano and dogecoin as a result hoskinson has disclosed that it would appear very exciting if ada and doge agreed to work together specifically hoskinson planned his ada doge partnership after tesla ceo elon musk called developers to come together with ideas and work on dogecoin in particular elon's intention for calling the crypto developers was to help make doge a good digital asset for payment not only hoskinson alone but elon's dogecoin upgrade movement also attracted ethereum ceo vitale futeren's attention alongside however buterin and hoskinson further said that with elon support they strongly believe that a lot more developers will come and help doge moreover they again mentioned that doing this will push dogecoin's value to the next level he said my hope is that a compromise can be made where real developers come in and they start working on doge to create some use and utility for it so at least it has a value floor and won't collapse as per hoskinson it would take dogecoin almost two to three years for renovation before it becomes a modern crypto asset the advice that hoskinson offered musk appears to be pretty solid backed by multiple technical facts around cryptocurrencies their underlying transaction technologies and their code scripts and so on the underlying tone was something that many would agree with urging musk to stop towing with the crypto market's prices something that's biggest drawbacks are also getting highlighted as a result of the push-pull market tides of late it also highlights how cryptocoins can be manipulated by decentralized market forces and therefore makes for a poor retail investor avenue in other words musk's adventures with dogecoin are somewhat pushing many off the potential of trading and holding cryptocurrencies it is this that could have helped cryptogrow into a regularly accepted currency worldwide but the antics of musk have somewhat highlighted the downsides of an individual's poll on an entire currency since cryptocurrencies are not tied to any centralized commodities or market securities either the way conventional equity scripts are hoskinson's advice holds even more deer in the need for establishing certain protocol before any and every cryptocurrency can be heralded as the future we'll be around 0.68 coins notice the number of decimals misplacing one decimal could mean a huge transaction error making this coin extremely unstable and harder to use this isn't the case with dogecoin moreover with such high value the chances of the coin being used for smaller transactions say for buying some groceries will be even more tedious where you'll have to pay 0.00036 bitcoins to buy a product worth 20 dogecoin has been reaching all time highs in recent times with the top marks at around the 0.74 dollar marks the price climb has been estimated to gain certainly more than a thousand percent going by the current events happening with dogecoin there are high chances that this game will be proved to be just a trailer to what lies ahead having said that it is also imperative to note that even bitcoin has been hitting all-time highs very recently we saw the prices going all the way up to 63 000 you might look at just these numbers and determine that bitcoin will be a much better investment however there are a lot more things to be considered before we get to that conclusion so stay tuned dogecoin and bitcoin are pretty different from each other even in the manner they work with a very limited supply of 21 million coins bitcoin has a higher hand in creating and gaining higher values in a much lesser time this on the other hand is not the case with dogecoin the total number of coins that will be produced for dogecoin is not limited meaning thereby that there will be a fixed number of coins mind each other making it a product with no rarity while many consider it to be a huge weakness of dogecoin certain analysts have also claimed that this is not a major point of difference as this will exactly be where inflation will play a vital role in the whole process the inflationary supply seen in dogecoin is what keeps on increasing the number of coins mined day by day we have around 10 000 dogecoins mined each minute this causes the coin to have a lesser value over time the value of bitcoin is actually the scarcity of it this explains the manner in which the price is well that's it for today's video guys and make sure to subscribe and give us a thumbs up see you next time on cardanoland

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