Tesla billionaire Elon Musk, the meme-loving CEO who also runs the rocket company SpaceX, has stepped up his support for the “joke” cryptocurrency Dogecoin in recent months.
The Dogecoin price skyrocketed when Musk flirted to accept the meme-based Dogecoin as payment, promised to bring a “literal” Dogecoin to the moon, and called a Dogecoin heated hot tub a “great idea” .
Now, amid calls from Doge fans to Tesla to allow their cars to create Dogecoin tokens while charging, a process known as “mining,” a rival electric car company has revealed it is working on a car, that can mine Dogecoin and other cryptocurrencies.
Tesla billionaire Elon Musk has apparently embraced Dogecoin as a favorite project in recent years … [+]
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This week, Toronto-based electric car company Daymak announced that it is building a futuristic three-wheeler that can mine “a variety” of cryptocurrencies such as Bitcoin, Dogecoin and Ethereum while charging.
Daymak is slated to hit the market in 2023 and has started accepting pre-orders for the alcohol in cryptocurrencies – something that, according to Daymak President Aldo Baiocchi, has resulted in “multiple pre-orders on Bitcoin since the announcement,” and helped keep the company Raises $ 400 million in pre-orders.
“We believe that crypto is the future,” says Baiocchi, who speaks on the phone after the announcement and explains that the solar “trickle charge” of the car will mean that crypto mining will not discharge the battery, while energy-intensive crypto will -Mining CPU charges and operates “helps to heat the car in winter.”
“While most vehicles depreciate while they are in your garage, the Nebula Miner makes money while your alcohol is parked,” Baiocchi said in a press release announcing the crypto-mining car. “The current crypto movement is a clear indication that we will be in the middle of the blockchain revolution by the release date of Spiritus 2023.”
Bitcoin and cryptocurrencies have come to the fore this year as prices soar and tech investors bet that Bitcoin’s blockchain technology will become a pillar of finance and software – with the bull run soaring even winking tokens like Dogecoin.
Dogecoin price rose over 15,000% at this time last year, thanks largely to … [+]
“Dogecoin is the people’s cryptocurrency, as Musk says,” adds Baiocchi. “[Musk’s] to Mars, he can imagine [dogecoin] out.”
Musk toppled the cryptocurrency party this year with a $ 150 million bet on Bitcoin that drove Bitcoin prices soaring in February. Musk continued to allow Tesla customers to pay with Bitcoin before suddenly reversing the decision in the face of fierce criticism of Bitcoin’s huge carbon footprint.
Meanwhile, Musk has given considerable support to Dogecoin – a memecoin created as a “joke” in 2013 and tainted in recent years with no user or development, Top 5 by value.
Many of Musk’s fans have hailed his Dogecoin support as traders pile up Dogecoin in hopes that Musk will continue to raise its price – although Musk has previously said that any of his Dogecoin-related comments and tweets should not be taken seriously.
“You should have Doge mode in your Tesla,” crypto investor David Gokhshtein told Tesla CEO in response to Musk describing “a hot tub that is heated by mining Dogecoin” as a “great idea.”
“Imagine the compressors full of Tesla’s 24/7 free Supercharger mining dog,” added another Twitter user, while a third said Musk should, “Make the Tesla mining doge while you are drive.”