Elon Musk Gives Major Dogecoin Price Boost With Tesla, SpaceX Tweet

Tech billionaire Elon Musk has ramped up Dogecoin after he mentioned in a tweet that Tesla merchandise could now be bought with Dogecoin.

Coin Gape reported that aside from Tesla merchandise, people can also purchase SpaceX merchandise with the currency soon.

Customers need to look for the Dogecoin symbol next to the order button for Dogecoin-eligible products on the Tesla website as not all Tesla products are eligible for purchase.

Customers will need a Dogecoin wallet to purchase using the currency. The payment page will display the Tesla Dogecoin wallet address in both an alphanumeric and a QR code form.

It will then allow for connecting to the customer's Dogecoin wallet to transfer the Dogecoin.

Tesla clarified that it is the responsibility of the customers to ensure that Dogecoin is transferred to Tesla's wallet accurately.

In addition, they are responsible for the fees associated with the Dogecoin transactions.

Dogecoin

The Dogecoin price is $0.08, a change of 3.98 percent over the past 24 hours as of 7:49 a.m.

Coin Desk noted that Doge is the native cryptocurrency of dogecoin, which is a parody cryptocurrency based on a viral internet meme of a Shiba Inu dog. It was first created purely as a mockery of other cryptocurrency projects that were being launched at the time.

The founders of dogecoin did not launch a public sale or "premine" coins before the token's launch. It has a total supply limit of 100 billion coins and anyone with a laptop or smartphone could start mining doge immediately.

It was not until November 2017 when doge's price found support again from huge investors.

Dogecoin blockchain operates using a proof-of-work consensus mechanism, which is the same system that Bitcoin uses for network participants to reach an agreement on the data being added to the blockchain.

Dogecoin's technology development is maintained by a team of voluntary developers who had submitted relatively few code updates and releases.

Elon Musk on Dogecoin

Elon Musk has finally acknowledged Dogecoin co-founder Jackson Palmer in a recent tweet, claiming that the Dogecoin founder tends to be "a bit negative" at times, according to a U Today report.

Palmer responded to Musk's remark, saying "achievement unlocked."

The Australian native co-founded Dogecoin together with American software engineer Billy Markus as a joke in 2013.

Palmer left the cryptocurrency community in 2015 due to its "toxic culture." He was critical of anarcho-libertarian beliefs prompted by crypto proponents.

Palmer said that he tried his best to educate people for a while. However, he realized that nobody really cared about it.

Palmer dubbed Musk, the most powerful promoter of Dogecoin, as a self-absorbed grifter in a now-deleted tweet.

He remains critical of Musk. He criticized the billionaire last month for launching a hostile takeover of Twitter.

The Dogecoin co-founder added that Musk tweets about crypto to "expand his cult of personality and boost his ego."

Palmer said that there are a lot of people who are on the "Elon train" now purely because "he pumped their crypto."

This article is owned by Latin Post.

Written by: Mary Webber

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