Doge Co-founder Rejects Million Offer To Promote Dogechain – Dec 14 () – Tesla Inc ( TSLA.O ) spokesman Elon Musk said on Tuesday the electric car maker will accept Dogecoin as payment for customers in an initial test, sending the meme-based cryptocurrency up 20%.
“Tesla will do deal with Dodge and see how it goes,” Musk tweeted. The automaker’s shares fell 3% in early trading amid a market slump.
Doge Co-founder Rejects $14 Million Offer To Promote Dogechain
Dogecoin, popular among investors, rose $0.20 after the tweet. Musk’s tweets about cryptocurrencies, with what he calls “cryptopeople,” have helped the meme coin soar 5,859% in the past year, according to Coinbase.
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“Elon Musk has supported the cryptocurrency community for years. His new announcement will usher in a new era of trading and pave the way for expanding altcoin usage options,” said Chris Klein, founder of Bitcoin IRA.
Musk did not specify which products, which start at $50 and go up to $1,900, can be purchased with dogecoin.
Tesla sells Giga Texas apparel, belts and miniature models of its cars and small accessories like the Cyberwhistle modeled after the highly anticipated Cybertruck. Released a children’s quad bike Cyberquad modeled after a car.
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Musk, a fan of the cryptocurrency, has repeatedly supported dogecoin and said it is better for business, most notably in an interview with Time magazine, which named him its 2021 Person of the Year on Monday.
In May, he asked users if they wanted Tesla to accept Dogecoin in a Twitter poll. He called Dogecoin a “fuss” during his appearance on the comedy TV show Saturday Night Live in May.
Musk, who has more than 66 million Twitter followers, has been active in the stock market this year, tweeting about cryptocurrencies and helping to boost their prices.
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The electric car maker stopped accepting bitcoins for car purchases less than two months after the company began accepting the world’s largest digital currency.
“That volume is more or less Tesla,” said Tom Martin, CEO of Globalt Investment. “I thought it was mercury or just funny.”
Reporting by Nivedita Balu and Medha Singh in Bangalore, additional reporting by Anisha Sircar; Edited by Krishna Chandra EluriDogecoin has seen a surge in whale activity following news that electric car maker Tesla will accept the cryptocurrency as payment for select customers. According to the network, meme currency is on the rise – with a 148% increase in ‘bulk purchases’, which are transfers worth more than US$100,000 (about Rs 76.11 lakh). The surge in whaling activity came as the price of Dogecoin on international exchanges surged 40% in one day on Tuesday, December 14th.
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As previously reported by Benzinga, data from Into The Block shows that large transactions started to increase immediately after the price of DOGE jumped due to Musk’s announcement. The report also revealed the speed with which marketers shared positive sentiment on social media about the cryptocurrency, which helped DOGE’s dominance on various platforms soar to 54% within 24 hours.
Elon Musk, aka “Dogefather”, is known for combining DOGE payments with the sale of Tesla cars under the alias “SHIBA”. Earlier this year, the company began accepting payments in Bitcoin.
“Bitcoin is not suitable for transactions. Although it was a silly joke, Dogecoin is better suited for transactions, Musk said in an interview after being named Person of the Year by Time magazine.
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Dogecoin whales can move money around thanks to a recent announcement by developer DOGE, who revealed that they had succeeded in creating the first non-fungible token (NFT) on the Dogecoin blockchain and implemented the transaction it made.
The developer noted that on the Dogecoin blockchain, the mintage cost per NFT is only 0.01 DOGE. The developer explained the minting process, saying that he used SHA-256 hash functions to mint the NFT and store it in a checksum.
Interest in Dogecoin grew during the cryptocurrency’s 10,000% rise in price earlier this year, increasing from 135,000 monthly searches on average in April 2020 to 16.5 million in April 2021.
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At the time of writing, the price of Dogecoin has fallen to $0.18 (approximately Rs. 14.44). Dog money is down 1.9% in the last 24 hours.
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Shomik is a senior editor at Gadgets 360. As an observer of consumer technology for the past four years, he has turned his attention to the world of cryptocurrency. When he’s not flipping luck, you’ll most likely find him playing mini-football or spinning a new Destiny 2 game every week on his Xbox. You can contact him for advice or questions at [email protected] Elon Musk also says the only things he owns are Bitcoin, Ethereum, Dogecoin and shares in his companies (Getty Images)
Bitcoin, Ethereum and Dogecoin saw a short-term surge after Elon Musk revealed that he has no plans to sell his cryptocurrency.
The richest man in the world has already said that the only things of significant value are cryptocurrencies and the shares of his companies.
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The CEO of SpaceX and Tesla is a major proponent of the meme-inspired cryptocurrency, calling himself the “Father of Dogecoin” and the “CEO of Dogecoin.”
His comments about dogecoin, especially on Twitter, helped propel its value to record highs in 2021, rising above $0.73 when he made the comment. many references during its discovery.
It has since fallen to $0.11, making it the 13th most valuable cryptocurrency in the world with a market cap of over $15 billion.
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Despite the losses – the entire cryptocurrency market has fallen by about $ 1 trillion in the last six months – the billionaire said that he has no intention of selling his cryptocurrency and believes that it is the best store of wealth during periods of high growth.
“In general, for someone looking for advice at this level, it’s better to have physical things like a house or a business in a business that you think is a good product than money when inflation is high,” he said.
His comments came during a period of uncertainty for bitcoin and other leading cryptocurrencies, as the US seeks to develop its own currency to compete with them following last week’s order. President Joe Biden is gone.
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European lawmakers are also expected to vote Monday on a proposal to ban cryptocurrency mining, which uses reliable proof-of-work protocols to create new coins.
Our goal is to create a safe and engaging environment to connect users based on interests and preferences. To raise awareness in our community, we are publishing an article where Dogecoin co-founder Billy Marcus allegedly turned down a $14 million offer to promote the shadow Dogecoin project. He protected the DOGE community and its investors by choosing not to betray them for money.
The co-founder is praised on Twitter for his commitment to the DOGE community. One Twitter user, Vee, said:
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According to his Twitter post, Dogechain gave Marcus 10 DC, which is now worth $14 million, to promote his project. Twitter users continued to pay tribute to Marcus, saying it’s hard to see people like Marcus still committed to their projects and community. He also said that Marcus refused to pay the money and was unable to buy a house for himself.
Vee also pointed out that these days Dogecoin developers have betrayed the community for cash and quick cash. There is no one like Billy who demonstrates the same level of dedication and commitment to the community.
Marcus responded to Vee’s post by saying that protecting the Dogecoin community these days is as difficult as they think. Most crypto influencers are money minded and will do anything to make money, even betray the project and community.
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To be honest, I don’t think we can protect the “community” from anything because people are free to make their own decisions and most people like crypto without being able to care about anything but spending money on everything . Know that everything will repeat itself forever.
From the beginning, Marcus has been dedicated to protecting Dogecoin investors and the community. He also threatened to sue prominent crypto YouTuber Matt Wallace for plans to abuse the DOGE trademark for him
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