Tesla CEO, Elon Musk tweeted about the necessity of lowering Dogecoin handling fees so that it can be widely used in retail purchases. The tweet was in reply to Dogecoin creator Shibetoshi Nakamoto. Given the fact that Musk is an unsung hero of Dogecoin, this tweet has also managed to ruffle some feathers. Here is the tweet.
Super important for Doge fees to drop to make things like buying movie tix viable
— Elon Musk (@elonmusk) September 22, 2021
The What and Why
In the current scenario, where cryptocurrency is gaining widespread popularity despite the persisting skepticism of its viability, it cannot be denied that crypto does hold some promise for the future. With major companies adopting crypto for payments, the credibility factor is also boosted to a certain extent.
Nakomoto’s tweet underscores this point furthermore as he talks about various companies embracing Dogecoin. Perhaps it is actually true that what started as a joke has come to be the most serious joke ever. Nakomoto’s tweet also emphasized the popularity of Dogecoin by stating the example of the Twitter poll conducted by AMC CEO, Adam Aron. The poll was set up in an attempt to discern whether the crypto community wants the company to begin accepting Dogecoin as well in addition to Bitcoin, Bitcoin Cash, Litecoin, and Ether.
“I sincerely want to hear your opinion, via this Twitter Poll. By year end-2021, AMC will take Bitcoin, Litecoin, and Bitcoin Cash for online payments. I hear from many on my Twitter feed we should accept Dogecoin too. Do you think AMC should explore accepting Dogecoin?” said the tweet.
The Tweet was met with an overwhelming response from the crypto community to the extent that it became the most interacted the AMC CEO has ever made. This explains to a great extent the levels of influence Dogecoin exercises among the crypto community and its potential to become the face of the future. Another highlight was the fact that Elon Musk himself liked the tweet adding more weight to the situation. After all, it is an unwritten yet widely accepted fact that Elon Musk is a very important advocate of DOGE.
The poll results showed a total of 68 percent in support of the cause, while 23 percent were supportive but reluctant to use it as a payment method. Only 23 percent was against the company accepting Dogecoin for payment. As a result of all this, Dogecoin rose by 8 percent which is rather commendable. Someone shakes the crypto boat and the largest impact is always borne by Dogecoin.
Musk and DOGE
There is no need for a further mention of the Musk-DOGE combo. The Tesla CEO has been a major force behind the roller-coaster ride of Dogecoin. Let us not forget the positive impact Musk had on Dogecoin when he made an announcement stating that he is working towards “improving system transaction efficiency.” However, it seems like even in crypto the law of gravity applies. Because as Dogecoin takes up the high hill with every tweet from Musk, Bitcoin takes a slump. Bitcoin’s fortunes were reversed for the worse when the Tesla CEO announced through a tweet that the company has decided to not accept BTC payments.
Talking about tweets and how it changes the beat, Musk’s reply to Nakomoto’s tweet has also caused some considerable impact. In his response, Musk stated the need to lower Dogecoin handling prices so that it could be widely used for retail purchases. If that actually happens, then we can buy even movie tickets with the meme coin. As usual, Musk’s tweet was met with overwhelming responses from the crypto community. Let us take a look.
yep yep ~ all 1.14.3 nodes please update to 1.14.4 and we can release low fees by default! pic.twitter.com/4DFvFDqpEf
— Shibetoshi Nakamoto (@BillyM2k) September 22, 2021
You just put 4 civilians in space and you are still Tweeting doggycoin bollocks.
— Peter McCormack (@PeterMcCormack) September 22, 2021
What about a crypto like Nano that doesn't even have the concept of fees? What possibilities do you see for that, Elon?
— Mira Hurley (@mira_hurley) September 22, 2021
Yes exactly! Same goes with Tesla cars too right Elon? pic.twitter.com/XiUBXmBjqM
— Ðogecoin~CA⬆️ (@topherAlba26) September 22, 2021
I would be really curious to know why Elon is so interested (or at least that's what he's showing us) in "Doge". I would really like to know the real motives and reasons.
— Adham (@Adham72225742) September 22, 2021
Yes extremely important! Update 1.15 coming right up! 🐕🚀
— SlumDOGE Millionaire (@ProTheDoge) September 22, 2021
#BTC goes up and goes down. We all know before investing in it that this game is not for the faint of heart. But being on the roller-coaster ride is surely stressful: thanks to Robin(ᴛєIєɠram @moorerobin)for her amazing skills in helping me make 10BTC through her trading signals
— stacii (@staciislip) September 22, 2021
Can you answer my Question Elon?? Why you no posting Dogecoin tweets?
— Saraah (@SaraShe04760246) September 22, 2021
You are wasting your time
— Mike C. (@mikefx23) September 22, 2021
Literally the reason for the Bitcoin civil war. Try Bitcoin Cash sometime Elon
— Cody (@AgoraExplora) September 22, 2021
Is it possible to buy a Tesla car by reducing the cost of doge?
— mostafa (@mostafa81838743) September 22, 2021