Musk: It's difficult to use Bitcoin on Mars as transaction settlement requires a lot of time
After the SEC approved the Bitcoin spot ETF, Musk participated in a Twitter Space hosted by Ark Invest CEO Cathie Wood. Musk stated that perhaps you can use Bitcoin to some extent, but it would be difficult to use it extensively on Mars because settling transactions requires a lot of time. Musk agreed with Matt Corallo, a core developer of Bitcoin, that the problem of slow Bitcoin transaction speed could be solved through localized lightning networks.
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