The Las Vegas Loop is a network of transit tunnels constructed by Boring Company,… The post Elon Musk’s Boring Company accepts Dogecoin (DOGE) for Loop rides appeared first on CoinJournal.

Elon Musk’s Boring Company accepts Dogecoin (DOGE) for Loop rides

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Scarcity is a fundamental property of money. Inflation, especially with the likes we see around the world, is devastating for everyone, and especially regressive. Preserving purchasing power and savings is important for any money. But does capping everything at 21 million go too far? If we wave a magic wand and bitcoin takes over all forms of money, then not only is bitcoin preserving current purchasing power, but rather it is increasing purchasing power. World energy consumption was 173,340 TWh in 2019, a 63% increase from 1990 energy usage. World electricity consumption was 25,890 TWh in 2019, a 117% increase from 1990. Our world energy needs are dramatically increasing. By 2050, we are expected to consume 39% more energy than we do today. So in effect, a bitcoin measured in energy alone, will increase to represent a larger share of energy - so it represents a larger purchasing parity. What incentive do savers have to invest in businesses or help pull forward economic growth, when the terminal value of every investment can be measured in predictable value increase of each bitcoin? And what about inheritance? Does having a large amount of Bitcoin saved over generations start to form new problems of inequality, since savings will rise against purchasing power (with no risk taking involved)? Does my bitcoin accumulated today entitle me to a larger share of purchasing power in the future, due to the efforts of everyone else in society? Just thinking out loud on this one - and part of this goes back to my earlier question on investing in bitcoin/lightning co’s here. If anyone has any thoughts, readings, articles to suggest I’d love to hear it…  [22 comments, 1000 boost]

How does everyone think about Bitcoin and Inflation - is a 21 million *permanent* cap correct?

The Boring Company’s users can now make payments for rides on its Las Vegas transit system Loop, using meme-based cryptocurrency Dogecoin (DOGE).  According to a CNN report today, the new payment solution was launched on Friday at the event of the opening of a new Loop station outside the city of Las Vegas.  Loop Services The […]

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The Boring Company’s users can now make payments for rides on its Las Vegas transit system Loop, using meme-based cryptocurrency Dogecoin (DOGE). 
 
According to a CNN report today, the new payment solution was launched on Friday at the event of the opening of a new Loop station outside the city of Las Vegas. 
Loop Services
The Boring Company’s Loop is a public transport system that conveys passengers in Tesla vehicles to their destination with no intermediate stops. 
These Tesla vehicles are driven at 35 mph, which is way lower than Elon Musk’s fast cars that move at 150 mph. However, Musk, the founder of The Boring Company, is planning to enhance the speed of the vehicles the infrastructure firm uses. 
Loop Payment Offering
Loop rides are free, but plans are being made to request payment from passengers soon. When payment for Loop rides eventually commences, passengers will be charged $1.50 for single rides, while day passes can be obtained at $2.50. 
Making payments for the transport service is easy. Passengers can purchase tickets for rides by scanning a QR on the wall at the new Resorts World station. 
People can choose to make payments using the biggest memecoin or pay for rides using their credit cards. 
Musk Fostering Dogecoin Adoption
Notably, the initiative is part of efforts by the Tesla exec to support Dogecoin’s mainstream adoption. Musk has continued to support Dogecoin across his businesses, including Tesla and SpaceX. 
The tech mogul, who recently got approval to purchase Twitter, announced that DOGE enthusiasts can now purchase merchandise from SpaceX. 
Musk’s support of DOGE was instrumental in pushing the cryptocurrency, which launched as a joke in 2013, to prominence, following a series of tweets in 2020. 
However, Musk’s support of DOGE earned him a $258 billion lawsuit from an aggrieved Dogecoin investor, who claimed the tech mogul was involved in the promotion of Dogecoin he referred to as a pyramid scheme.   
Musk responded in a recent report that he had never told anyone to purchase DOGE. 
DOGE Soars 2.6%
News of The Boring Company’s support of DOGE had a slight impact on the value of the cryptocurrency. Dogecoin is up 2.6% in the last 24 hours, as the cryptocurrency changes hands around $0.068, according to data on Coingecko.  

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Elon Musk’s Boring Company Now Accepts Dogecoin (DOGE) Payments For Loop Rides - The Crypto Basic

The Canadian food tech company WeCook announces their support of Dogecoin, XRP, and some other cryptocurrencies as payment. The Canadian food tech company WeCook announces their support of Dogecoin, XRP, and some other cryptocurrencies as payment.

#	Name	Price	Change (24h)	Change (7d)	Volume (24h)	Market Cap
1	BTC	$20,414.20	1.01%	1.29%	$25.60B	$389.64B
2	ETH	$1,161.42	2.84%	4.67%	$15.54B	$141.04B
3	USDT	$0.99909	0.00%	0.01%	$43.04B	$65.93B
4	USDC	$1.00	0.03%	‑0.03%	$5.49B	$55.82B
5	BNB	$238.75	3.62%	8.54%	$1.33B	$38.98B
6	BUSD	$1.00	0.04%	‑0.14%	$4.82B	$17.56B
7	XRP	$0.32739	1.02%	‑0.89%	$1.11B	$15.83B
8	ADA	$0.46091	0.90%	‑1.48%	$661.51M	$15.56B
9	SOL	$36.57	4.07%	6.93%	$1.53B	$12.55B
10	DOGE	$0.0685	0.50%	‑1.23%	$409.94M	$9.09B

#	Name	Price	Change (24h)	Change (7d)	Volume (24h)	Market Cap
275	TITAN	$1.50	7.58%	‑70.90%	$9.48M	$79.87M
398	XDB	$0.04298	5.13%	‑1.92%	$805.47K	$41.22M
419	ONUS	$0.38736	3.27%	‑11.05%	$27.20K	$37.62M
434	HOO	$0.43393	1.98%	‑28.37%	$3.20M	$35.77M
189	STRAX	$0.68929	‑1.20%	‑39.30%	$23.95M	$95.56M

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