Why DogeCoin Would Be Better For Twitter Than Bitcoin!
Popular YouTuber and crypto analyst Coin Bureau recently uploaded a new video looking into whether DogeCoin and other cryptocurrencies like Bitcoin could now be integrated into Twitter following Elon Musk’s acquisition of the social media platform.
DOGE vs BTC
With Elon Musk being known to be a massive supporter of cryptocurrencies, more specifically the ‘father of Dogecoin’ as he has called himself in the past, many in the crypto space are expecting Twitter to become much more crypto friendly with his leading of the platform.
Because of this however, there have been many divided talks on which cryptocurrency will lead to become Twitter’s main integrated crypto. With most in the space being divided between Bitcoin, the biggest cryptocurrency in the world, and Dogecoin, Elon Musk’s personal favourite cryptocurrency.
Popular Crypto YouTuber Coin Bureau tells his hundreds of thousands of subscribers that he predicts Dogecoin to be the better option for the social media platform.
He explains that there are a number of reasons why Dogecoin has an advantage over Bitcoin, including the fact that Dogecoin transactions are simply faster than Bitcoin and the fact that Bitcoin is ‘far too valuable’ to be used casually on Twitter.
“Can you see all those Bitcoin HODLers opening their wallets to spend their BTC on Twitter? I’m not sure I can. And, like it or loathe it, BTC is now digital gold. And, as Gresham’s Law states, the more valuable something is perceived to be, the less likely people are to want to spend it.” He stated.
“Meanwhile, DOGE’s sheer abundance means it’s much more likely that people would be willing to actually spend it rather than hodl.“
Using DogeCoin On Twitter
Pseudonymous Coin Bureau host Guy says that there’s a number of ways Dogecoin could possibly be used on Twitter, one of those being as a payment method for Twitter’s premium user blue check which Musk has been discussing quite a lot on his own personal Twitter these last few days.
“Most exchanges support DOGE and it’s perhaps only second to Bitcoin in terms of recognition. Most people may not know the ins and outs of it… but, chances are, they have, at least, heard of it.” Guy explains.
Despite potentially becoming the main crypto payment method for such a large social media platform like Twitter, Guy predicts that the current price rally that has helped Dogecoin surge by more than 100% the last few days will eventually die down.
He explains that the hype surrounding Doge is currently only being fueled by Musk’s acquisition but that the cryptocurrency is currently being ‘overbrought’ and its rally will eventually fizzle out again.