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Elon's Razor: Why Dogecoin is the Most Entertaining Outcome
Read why Dogecoin is Proof of Simulation
Dogecoin found its way into the spotlight yet again last week, when Elon floated the idea of it becoming the global reserve currency to a room full of business executives.
If that weren’t enough, Doge stole the show during Ron DeSantis’s presidential announcement on Twitter Spaces
In the traditionally stodgy world of business and politics, Dogecoin is a beacon of fun. Let’s take a look at what Elon really means when he says Doge is “the most entertaining outcome.”
Last week, Elon spoke at Wall Street Journal’s CEO Council, a conference of “the world’s most influential decision makers.”
During the interview, he was asked about cryptocurrency:
Interviewer: Are you still a fan of crypto?
Elon: Well, I’m not advising anyone to buy crypto or bet the farm on, you know, Dogecoin—don’t bet the farm on Dogecoin!—maybe you should, but let me advise you, that would be perhaps unwise. So Dogecoin is my favorite cryptocurrency because it has the best humor and it has dogs.
Interviewer: I did however look at the price of it yesterday, it’s lower than it was.
Elon: A friend of mine has a saying, that the most ironic explanation is the most likely, and the most ironic outcome for currency would be that the thing that was made as a joke to make fun of cryptocurrencies becomes the global currency.
Elon has been talking about the most ironic/entertaining outcome for a while.
The idea first popped up in a 2017 tweet, when he wrote, “It does often seem that the most entertaining belief or outcome is the most likely to prevail.”
He posted about it again on January 7th, 2021, the day after the J6 protests and a few weeks before Dogecoin exploded onto the global financial scene.
During 2021’s “B Word” discussion about Bitcoin, he attributed the phrase to a friend and connected it to Dogecoin.
In recent years on Twitter, “the simulation” has become a popular way to explain the absurdity of current events and the accelerating pace of technological change.
Speculation about the nature of reality is not new. Debates about the ultimate substrate of existence have been going on forever, and the question of how real is reality lies at the heart of spiritual, scientific, and philosophical traditions dating back thousands of years.
The truth is, no one has been able to prove with 100% certainty that we do or don’t live in a simulation.
How each person answers the question ultimately reduces to a matter of faith. Scientist Lex Fridman has said the simulation hypothesis is “the modern version of asking, what is God, what does God look like, what does the programmer look like?”
Wherever you come down on the question, the recent popularity of simulation theory can be understood as an explanatory mechanism to make sense of all the weird, incongruous details of life on earth in 2023.
One thing seems certain: the possibility of Dogecoin becoming the global reserve currency strains some folks’ sense of reality.
Will digital dog money replace the dollar? Somehow, this idea just feels better suited for a simulation than a universe characterized by randomness and entropy.
When Doge topped 69 cents in May 2021, Twitter sentiment intensified that the simulation was real.
If Doge really does become the chosen currency of Earth, simulation theorists will probably hold it up as another piece of evidence to support their claim.
In this light, Elon’s Razor about the most entertaining/ironic outcome is loaded with meaning, suggesting not just that things will work out in a humorous and happy way, but that they were programmed or destined to all along.
When he tweeted that a Dogecoin Standard is “inevitable,” he may have been hinting at this dynamic.
Simulation or no simulation, Dogecoin keeps finding itself in the world-historical spotlight.
During last week’s Twitter Spaces announcement of Ron DeSantis’s presidential campaign, moderator David Sacks asked DeSantis what he thought of Bitcoin.
At the end of Sacks’s question, Elon chimed in, ”And Dogecoin!”
A few minutes later, Sacks emphasized how cryptocurrency has become hot-button political issue in the coming elections, at which point Elon added, “Dogecoin too, I just want to emphasize.” Sacks then gave a “shout-out to all the Doge fans out there.”
Despite a technical delay, DeSantis’s announcement generated massive traffic for Twitter.
There’s already talk of other candidates doing similar digital town hall events, including RFK Jr and Donald Trump.
Whatever its ultimate metaphysical status, Dogecoin makes the world a funnier, happier place.
In 2023, civilization is passing through uncharted territory.
Global institutions like mass media, the financial system, and the Internet itself are being transformed.
New innovations—AI, crypto, and uncensored social media—are pushing the envelope of change.
However things turn out, we might continue to hope the most entertaining outcome is most likely, and that, against all odds, it includes the underdoge.
Dogey Treats: News Bites
The Dogecoin blockchain processed over two million transactions on Saturday, a new all-time high. Doge hash rate is up nearly 40% since the beginning of May.
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Disclaimer: This is not financial advice and I am not a financial advisor. The article above references an opinion for entertainment purposes only and it is not investment advice. Always assume that the author of the article is actively trading and that the opinions expressed may be biased towards the author’s holdings. Do your own research and consult with a licensed financial adviser before making any investment decision. Do not treat any opinion expressed in this newsletter as a specific inducement to make a particular investment. Content, news, research, tools, and securities symbols are for educational and illustrative purposes only and do not imply a recommendation or solicitation to buy or sell a particular security or cryptocurrency or to engage in any particular investment strategy. The information provided is not warranted as to completeness or accuracy and is subject to change without notice. The projections or other information regarding the likelihood of various investment outcomes are hypothetical in nature, are not guaranteed for accuracy or completeness, do not reflect actual investment results and are not guarantees of future results. All investments involve risk, losses may exceed the principal invested, and the past performance of a security, industry, sector, market, cryptocurrency, or financial product does not guarantee future results or returns. Dogecoin is a speculative and highly volatile asset susceptible to pump-and-dump schemes.
At the time of publication, Dogecoin is around $0.07 per coin.