HiTechEdge

Tag: Dogecoin

  • Mavs Cryptomania: Buy $150 in Mavs Gear With Crypto and Get $25 Gift Card

    Mavs Cryptomania: Buy $150 in Mavs Gear With Crypto and Get $25 Gift Card

    The Dallas Mavericks are doubling down on their crypto support, giving $25 gift cards to anyone using crypto to buy $150 in merchandise.

    The Dallas Mavericks were one of the first major organizations to embrace Dogecoin, with Mark Cuban announcing the organization would accept the crypto as payment. 

    The organization is now rewarding users who purchase at least $150 worth of gear using eligible cryptos.

    Mavs Cryptomania: Free $25 e-gift card for purchases made with eligible cryptocurrency on DallasMavs.Shop! Must spend minimum of $150 (before tax and shipping.) Only one e-gift card per transaction. E-gift card will be emailed 5-7 business days after order is placed and expires 12/31/21.

  • Dogecoin Makes Up 62% of Robinhood’s Crypto Revenue

    Dogecoin Makes Up 62% of Robinhood’s Crypto Revenue

    Continuing its transformation into a serious cryptocurrency, Dogecoin now accounts for 62% of Robinhood’s crypto revenue.

    Robinhood issued its first quarterly report since going public, and the report shows the increased importance of crypto trading to the firm. According to CNBC, 52% of Robinhood’s transaction-based revenue came from crypto, reaching some $233 million. In comparison, crypto only accounted for $5 million in the year-ago quarter.

    The report also shows the increased importance of Dogecoin. Two months ago, Dogecoin made up 34% of the company’s crypto revenue. The company’s quarterly report, however, revealed that Dogecoin now makes up 62%.

    Given that Dogecoin began as a meme and a joke, Robinhood’s report is another indication of just how important the crypto has become.

  • Dogecoin Creator Slams His Own Creation

    Dogecoin Creator Slams His Own Creation

    Dogecoin co-creator Jackson Palmer has slammed the cryptocurrency market, dashing hopes he might one day return to it.

    Palmer co-created Dogecoin as a meme, although the currency has since gone on to become a major force in the crypto market. In fact, at one point Dogecoin was the fourth most valuable cryptocurrency.

    Despite its success, and despite crypto’s reputation as a decentralized currency, Palmer has no intention of returning to the market and is now slamming it.

    https://twitter.com/ummjackson/status/1415353984617914370?s=20

    Palmer says the crypto market, rather than being decentralized, is actually controlled by a wealthy few.

    https://twitter.com/ummjackson/status/1415353986392072196?s=20
    https://twitter.com/ummjackson/status/1415353987503583236?s=20

    Palmer’s commentary is likely to anger some and validate others, but is nonetheless a fascinating take on the crypto industry.

  • Fintech Bank Revolut Adding Support for Dogecoin

    Fintech Bank Revolut Adding Support for Dogecoin

    Fintech bank Revolut is the latest institution to add support for Dogecoin, as the crypto continues to gain acceptance.

    Dogecoin started out as a meme but has increasingly been making headway as a serious cryptocurrency. Dogecoin’s market valuation surged to a whopping $70 billion in May, making it the fourth most valuable crypto.

    Revolut is now adding support for Dogecoin, thanks to popular demand.

  • Coinbase Will Support Dogecoin Trading

    Coinbase Will Support Dogecoin Trading

    Coinbase has reversed course, announcing it will finally start supporting Dogecoin trading.

    What started as a meme has taken the crypto world by storm, with Dogecoin catapulting into the fourth largest cryptocurrency by market value. Despite Dogecoin’s growth, one of the leading crypto trading platforms has been noticeably absent from the action.

    Coinbase is changing its tune, with CEO Brian Armstrong telling investors the platform will support Dogecoin within six to eight weeks, according to Gizmodo. Armstrong also highlighted his vision of where he sees things going.

    I think it’s going to be something, kind of, like apps in the App Store or on the iPhone where there’s eventually millions of these assets created over time and so we’re putting a lot of work and thought into how do we accelerate our pace of asset addition, and one of those is Doge, as you mentioned, which has been getting a lot of attention recently.

    Coinbase’s change of plans is likely to boost Dogecoin even more, making it easier than ever for people to trade the crypto.

    *Author holds a very small amount of Dogecoin that in no way influenced this article.

  • Bitcoin’s Tesla Misfortune May Be Dogecoin’s Gain

    Bitcoin’s Tesla Misfortune May Be Dogecoin’s Gain

    On the heels of Tesla no longer accepting Bitcoin as payment, Elon Musk has said he is working with Dogecoin’s developers.

    Elon Musk surprised the crypto market Wednesday when he announced Tesla would no longer accept Bitcoin as payment, just weeks after the company had announced it would. Musk cited Bitcoin mining’s carbon footprint as the reason, something the cryptocurrency is increasingly being criticized for.

    Despite Musk’s announcement, he clarified he is still a strong supporter of cryptocurrencies in general.

    In addition, Musk says he is working with Dogecoin’s developers to help it be more efficient, possibly avoiding the environmental impact Bitcoin has become known for.

    Needless to say, Dogecoin rebounded on Musk’s tweet, and continues its transition from meme to legitimate crypto.

    *Author holds a very small amount of Dogecoin that in no way influenced this article.

  • Tesla Suspends Purchases Using Bitcoin

    Tesla Suspends Purchases Using Bitcoin

    Tesla will no longer accept Bitcoin as payment for Teslas, reversing a policy only weeks after it went into effect.

    Elon Musk is a big proponent of cryptocurrency, so it’s no surprise that both of his companies, Tesla and SpaceX, have taken an unconventional approach as well. SpaceX recently announced it had accepted Dogecoin as payment for carrying a satellite on its upcoming mission to the Moon and Tesla was accepting Bitcoin as payment for vehicle purchases.

    Unfortunately, an often overlooked byproduct of cryptocurrency mining is the impact it has on the environment. In fact, as far back as 2018, it was estimated that every $1 of Bitcoin that was generated was responsible for $49 of health and climate damage in the US.

    Musk cited the environmental impact as the primary reason for Tesla’s change of direction. He made the statement via Twitter.

    Tesla has suspended vehicle purchases using Bitcoin. We are concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel.

    Cryptocurrency is a good idea on many levels and we believe it has a promising future, but this cannot come at great cost to the environment.

    Tesla will not be selling any Bitcoin and we intend to use it for transactions as soon as mining transitions to more sustainable energy. We are also looking at other cryptocurrencies that use <1% of Bitcoin’s energy/transaction.

    *Author holds a very small amount of Dogecoin that in no way influenced this article.

  • SpaceX Accepts Dogecoin for Upcoming Mission

    SpaceX Accepts Dogecoin for Upcoming Mission

    In its continuing journey from meme to legitimate cryptocurrency, dogecoin will be used to pay for an upcoming SpaceX mission.

    Although it was originally started as a joke, dogecoin is gaining acceptance as a legitimate cryptocurrency. In early May it surged to a $70 billion market cap, making it the fourth most valuable crypto. Meanwhile, Dallas Mavericks owner Mark Cuban announced the NBA team would accept it as payment.

    Elon Musk has arguably been the biggest support of dogecoin, and his SpaceX company has now accepted it as payment for an upcoming mission to the Moon, called “DOGE-1 Mission to the Moon.” Canadian company Geometric Energy Corporation has paid SpaceX to transport a 40kg satellite. The transaction was made exclusively with dogecoin.

    “Having officially transacted with DOGE for a deal of this magnitude, Geometric Energy Corporation and SpaceX have solidified DOGE as a unit of account for lunar business in the space sector,” said Geometric Energy’s Chief Executive Officer Samuel Reid.

    “This mission will demonstrate the application of cryptocurrency beyond Earth orbit and set the foundation for interplanetary commerce,” said SpaceX Vice President of Commercial Sales Tom Ochinero. “We’re excited to launch DOGE-1 to the Moon!”

    *Author holds a very small amount of Dogecoin that in no way influenced this article.