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Musk Confirms Dogecoin Payment Option for Tesla Merchandise, Pushing the Crypto’s Price Higher – Yahoo Finance

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It’s now official: Tesla has started accepting Dogecoin as payment for some of the company’s merchandise following weeks of rumors, pushing Dogecoin’s price higher and further solidifying Tesla CEO Elon Musk’s reputation as a champion of the cryptocurrency. The move marks one of many interesting economic news stories as 2022 kicks off in earnest.
See: Reddit Recap: Meme Stocks, Dogecoin, Bitcoin and the Growth of Crypto in 2022
Find: Dogecoin, Stimulus Check and More of the Most-Searched Financial Terms of 2021 on Google

Musk sent out a tweet early on Jan. 14 confirming that Tesla will accept Dogecoin as payment for a small selection of the electric vehicle company’s merchandise. The tweet was short and to the point:
“Telsa merch buyable with Dogecoin.”
So, what can you buy with Dogecoin? Well, you can get a whistle shaped like Tesla’s Cybertruck for 300 DOGE, CNBC reported — the equivalent of about $59 as of the morning of Jan. 14. If you want to fork over a little more, a commemorative belt buckle celebrating Tesla’s Gigafactory in Texas was reportedly listed at 835 DOGE, or roughly $164.
It was all good news for Dogecoin: its price rose as much as 15% on the news — topping $0.20 a coin at one point — before slipping back to $0.18 later on Jan. 14. As has been widely reported, Dogecoin started out as a meme coin, but gained considerable traction last month when Musk tweeted that Tesla will make some of its merchandise purchasable with Doge and “see how it goes.”
Related: Tesla To Start Model Y Production at Austin Gigafactory This Week
If you want to buy Tesla merch with Dogecoin, you’ll have to follow the rules laid out on the EV maker’s website. These include setting up a “Dogecoin wallet” that accepts the crypto’s transfers. It’s your responsibility to ensure that Dogecoin is transferred to Tesla’s Dogecoin wallet accurately. If an order is overpaid in Dogecoin, the overpayment amount will not be refunded to the original form of payment, Tesla’s website said.
You can also expect to pay Dogecoin network fees each time a payment is made in the crypto. Tesla advises consulting your Dogecoin wallet provider for information regarding additional fees. Buyers are responsible for any fees associated with a Dogecoin transaction.
Tesla also said it can take up to six hours for the Dogecoin network to confirm your payment.
The company is no stranger to cryptocurrency. Last year it bought $1.5 billion worth of Bitcoin and said it would start accepting purchases with the world’s biggest crypto. But Musk later stopped accepting Bitcoin because of the large amounts of energy needed to mine it. Dogecoin uses much less energy, according to industry analyses.
Learn: Buying Crypto in 2022? Do This First
Explore: 5 Things Most Americans Don’t Know About Crypto Investing

Meanwhile, these latest Dogecoin headlines took the spotlight away from something Tesla might not be so happy to share with the public — reports that a teenage hacker in Germany found flaws in third-party software that allowed him to remotely control certain functions of some of the company’s EVs. The alleged hacker claimed the ability to unlock doors and windows, start cars without keys, and disable security systems on a number of Tesla vehicles.
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This article originally appeared on GOBankingRates.com: Musk Confirms Dogecoin Payment Option for Tesla Merchandise, Pushing the Crypto’s Price Higher
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Cryptocurrency prices today under pressure: Bitcoin falls 3%, ether 6%; Uniswap gains | Mint – Mint

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  • The global cryptocurrency market cap today remained below the $1 trillion mark

Cryptocurrency prices today came under pressure after the US Federal Reserve delivered another big interest-rate hike and warned of economic pain from the aggressive policy tightening still to come. The Fed’s determination to raise rates to levels that hammer inflation at the cost of sliding asset prices sent a chill across global markets.
Bitcoin, the world’s largest and most popular cryptocurrency, was trading more than 2% lower at $18,627, came close to dropping below $18,000 level. The global crypto market cap today remained below the $1 trillion mark, as it was down over 2% in the last 24 hours at $943 billion, as per CoinGecko. On the other hand, Ether, the coin linked to the ethereum blockchain and the second largest cryptocurrency, continued to underperform and fell more than 6% at $1,260.
“Bitcoin, Ethereum, and most cryptocurrencies traded lower on late Wednesday after the Federal Reserve raised interest rates by 75 basis points marking the third consecutive time this year. BTC continues to struggle below the $19,000 since bears are more powerful than bulls in the market. The second largest crypto, Ethereum was seen changing hands above the $1,200 level. The price of ETH has been dipping since the Merge took place as miners continued to dump their ETH in the market coupled with macroeconomic factors. If the selling pressure from miners increases, ETH is likely to fall below the $1,000 level,” said Edul Patel, CEO and Co-founder of Mudrex.
Meanwhile, dogecoin price today was also trading about 3% lower at $0.05 whereas Shiba Inu slipped more than a per cent to $0.000011. Other crypto prices’ today performance also declined as XRP, Stellar, Solana, Polygon, Avalanche, Binance USD, Polkadot, Litecoin, Apecoin, Cardano, Chainlink, Tron, Tether prices were trading with cuts over the last 24 hours, whereas Uniswap gained.
Such a backdrop offers little respite for crypto markets. They were already reeling from a $2 trillion plunge from a 2021 record high, an unraveling pockmarked with blowups such as the Three Arrows Capital hedge fund and the Terraform Labs project — whose co-founder Do Kwon is wanted by authorities.
(With inputs from agencies)
 
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Bitcoin's Accumulated Momentum Is Going To Be Hard To Stop – Bitcoin Magazine

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While "the smartest people in the room" scan the horizon, bitcoiners are out there actually building the future they want to live in.
The below is a direct excerpt of Marty's Bent Issue #1259: "Bitcoin is action. The accumulated momentum is going to be hard to stop." Sign up for the newsletter here.
This morning I listened to a recent Macro Voices podcast with Brent Johnson from Santiago Capital. It was a very good conversation about the state of the global economy, particularly focused on the dollar's relative strength against other currencies and how things may play out as the dollar continues to strengthen as prophesied by the "Dollar Milkshake" theory. Here's a link to the episode for those interested.
Toward the end of their discussion Erik (the host) and Brent make it clear without saying anything explicitly that it is insane that global markets are essentially beholden to the whims of a very select few people, central bankers, out of the billions who are alive on this planet. The fact that the world hinges on the cryptic language of people who are completely disconnected from reality and do not suffer the consequences of their actions is a bit baffling. With that being said, what I'd like to focus on is the fact the Erik and Brent ended their conversation with a brief detour to discuss the next world reserve currency. Both gentlemen acknowledged that it would likely be a cryptocurrency – likely produced by one of the governments or a coalition of governments – and will certainly not be bitcoin.
To your Uncle Marty, this is an incredibly hilarious line of thinking from a couple of individuals who seem to "get it" in regards to the fact that the fiat system is doomed for failure and it's failure is being driven by incompetent central planners. To think that the solution to bad central planning from an incompetent group will be better central planning from the same group via a fresh slate a CBDC or something like it would provide. Even funnier is the fact that they emphatically proclaim that bitcoin most certainly will not become the dominant money in the world while deriding "bitcoin maximalists". This is our edge, freaks.
While "the smartest people in the room" scan the horizon waiting to place their bets on something that hasn't materialized yet and is sure to end in failure if it ever does because it will suffer from the same centralized attributes that doomed the dollar, bitcoiners are out there actually building the future they want to live in. The macro mensches of the world can continue to sit on the sideline and pontificate about what they think will come to market. Bitcoiners will continue to act and bring their distributed, censorship resistant, sound money to market. And the headstart bitcoin has amassed is approaching insurmountable. It is a step-function improvement on the incumbent monetary system in every way.
It's provably scarce and extremely hard to change.
You can send it over the internet.
You can divide more granularly.
It is extremely hard to prevent someone from receiving or sending bitcoin if used correctly.
And, what might be the most underappreciated aspect, it is beginning to become an integral part of the energy sector. And as we're finding out now energy is pretty damn important. Arguably the most important asset on the planet. Bitcoin becoming an essential for energy producers makes it significantly harder to kill from a logistical and political perspective.
We are so early.

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Boba Network Partners With Avalanche, Boba AVAX L2 to Provide 'Faster Transactions and Lower Fees' – Blockchain Bitcoin News – Bitcoin News

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by Jamie Redman
On Wednesday, the layer two scaling solution that leverages optimistic rollup technology, Boba Network has revealed it now supports the proof-of-stake (PoS) network Avalanche. According to the Boba Network team, the new Avalanche support will produce “faster transactions and lower fees.”
Boba Network, the layer two (L2) scaling project introduced Boba AVAX L2 on Wednesday via the team’s Twitter account. “We’re over the slopes to announce our partnership as an official scaling solution for Avalanche,” Boba said. “Avalanche offers blazing fast speeds, low costs, and eco-friendly solutions: Boba AVAX L2 holds true to those values and enhances it further.”
Boba is already connected with the Ethereum (ETH) network and at the time of writing, l2fees.info stats show Boba’s fee to move ether today is $0.17, and to swap tokens the estimated price is $0.30. That is cheaper than the current 34 gwei ($0.96) to send ether onchain, according to etherscan.io’s gas tracking tool. A high-priority decentralized exchange (dex) swap can cost $8.47 per transaction onchain, so Boba’s $0.30 cost to swap, is 96.45% cheaper.
“Faster transactions, lower fees: Boba AVAX L2 is catered for all heavy transactions, throughput-reliant protocols [and] anyone wanting to be part of the next generation,” Boba further declared on Wednesday. The team further explained it is joining partner decentralized applications (dapps) like Sushiswap and Evoverses with the new support. Boba added:
While Sushi will be deploying their Legacy Swap on Boba AVAX L2, Evoverses’ will be joining with their 3D PvP gameplay, powered by the Unreal Engine 5 [and] Hybrid Compute to help the game scale and reach its full potential.
L2 projects like Boba Network have been partnering with a great deal of industry heavyweights and blockchain networks in recent times. Opensea recently detailed the leading NFT marketplace has added Arbitrum support and the NFT market competitor Rarible revealed Immutable X support. Arbitrum, Immutable X, and Boba Network are all L2 projects and other competitors include Loopring, Zksync, Optimism, Metis, Polygon Hermez, and Aztec.
What do you think about Boba Network adding Avalanche support? Let us know what you think about this subject in the comments section below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
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As the crypto economy hovers just under $2 trillion in value, application-specific integrated circuit (ASIC) mining devices are making decent profits. While ASIC miners can still mine ethereum, a 1.5 gigahash (GH/s) Ethash mining device can rake in $51.58 per … read more.
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