Dogecoin Goes Underground
Dogecoin Goes Underground
Hey everyone,
This week, Dogecoin continued its world takeover with the news that The Boring Company would start accepting Dogecoin for its underground tunnel in Las Vegas.
Days later, Elon filed papers to cancel his Twitter acquisition, setting up a huge court date with the social media giant.
Let’s take a look at Dogecoin’s journey underground, and the latest in the Elon-Twitter saga.
Boring Doge
Dogecoin utility made another big leap this week with the announcement that The Boring Company would accept Doge.
TBC will take Doge as fare for travel on its 1.7 mile underground tunnel to the Las Vegas Convention Center.
The tunnel is currently free, but when TBC starts charging for rides, it will cost $1.50 for a single ride and $2.50 for a day pass, or 22 and 37 Ð at current prices.
In response to a CNN article about the news, Elon tweeted he is “Supporting Doge wherever possible.”
Elon founded The Boring Company in 2016 as a subsidiary of SpaceX.
Like Dogecoin, TBC began as a joke.
In 2018, it branched off to become its own enterprise whose mission is to “solve the problem of soul-destroying traffic” by boring underground tunnels.
Earlier this year, Elon announced, “In the coming years, Boring Co will attempt to build a working Hyperloop.”
Hyperloop is a theoretical high-speed transport system that could send people and cargo through a low-pressure underground tube at 700+ mph.
TBC is working on a longer 29-mile tunnel network in Las Vegas, and there are currently discussions to builds tunnels in San Jose, Miami, Fort Lauderdale, San Bernardino, and South Texas.
The company estimates it could mine 600 miles of tunnel per year with its current equipment.
Wednesday's Vegas announcement is another indication that Dogecoin is aligning with human progress.
Dogecoin has now infiltrated Tesla, SpaceX, and TBC, three of the most exciting and forward-looking companies in the world.
Only one domino remains to fall: Wen Doge 4 Neuralink?
In the bird house
Two days after the Boring announcement, big news dropped: Elon planned to terminate his $44 billion deal to acquire Twitter.
Elon sent a letter to the Twitter board explaining his intention to terminate the deal due to "material breach of multiple provisions of the Merger agreement." He also filed paperwork with the SEC.
In response, Twitter chair Bret Taylor tweeted that Twitter would take Elon to court to enforce the original agreement.
The issue in contention is still bots.
Elon insists that Twitter is refusing to share data that show the percentage of fake users is greater than the 5% claimed.
When the news was announced on Friday afternoon, most outlets took it at face value, interpreting the court filing to mean that Elon had changed his mind and didn't want Twitter any more.
Shrewd observers, however, predicted that Elon was once again playing 4D chess with Twitter's board.
Early Monday morning, he confirmed the latter interpretation with a meme.
A few minutes later, he tweeted another meme suggesting, like the old Sun Tzu adage, he had been intentionally appearing weak when he really was strong.
In a subsequent tweet, he declared "Chuckmate" in reference to viral memes about Chuck Norris's superhuman abilities.
When another user suggested the SEC should independently investigate the bot issue—which could adversely impact Twitter's stock and hurt retail investors—Elon agreed while expressing doubt that the securities watchdog would do its job.
Elon and Twitter's board have been battling each other for months about fake users.
Hopefully, the coming legal throwdown will bring closure.
The stakes are enormous. More than just restoring free speech to the Internet, the Dogefather could finally pull back the curtain on how artificial and contrived public discourse has become over the last several years.
Time for Twitter to show some receipts!
Dogey Treats: News Bites
Binance CEO CZ said "Africa is primed for crypto adoption" and met with Presidents of Senegal and Ivory Coast. Zimbabwe's Central Bank will issue gold coins to fight inflation
GameStop plans to do a 4:1 stock spilt at the close of business on July 18.
FTX Japan listed Dogecoin. Lunar Crush data shows Doge's social engagement has been surging.
Robinhood enabled crypto transfers for all users.
Three reasons why crypto will rise again.
Twitter said it has been suspending 1 million spam users a day.
Tesla could make a robovan. Starlink released maritime service and launched 46 more satellites. Elon said, "These polar launches will enable complete coverage of Earth (where approved by local government)."
Curiously, oil released from US's strategic reserves isn't being used in the US and is instead being sent overseas.
Elon posted a string of sock-related tweets, tweeted "Flatulence Earther," and said "Humanity will reach Mars in your lifetime," adding that a common goal will prevent humanity from fighting itself. He spoke about Mars and birth rates at the Sun Valley tech and media conference on Saturday.
FTX founder Sam Bankman-Fried said the crypto liquidity crunch was likely over and FTX has more than $2 billion to backstop the industry. At the same time, he told Raoul Pal the crypto market was in a "well, let's see what happens with the world type situation."
The global order continued its shakeup: British PM Boris Johnson resigned. French President Emmanuel Macron was called on to do the same. The Sri Lankan government collapsed amid protests related to inflation. A similar protest occurred in Albania, Argentina, and other countries. Dutch farmers and fisherman blocked highways in protest of government climate regulations, and a Gates-funded synthetic foods supermarket was burned to the ground. Former Japanese PM Shinzo Abe, a strong supporter of Taiwanese independence, was assassinated. Chinese citizens have been protesting against banks blocking withdrawals. Saudi Arabia is considering applying for BRICS membership. Former military contractor Eric Prince predicted the fall of the US Dollar as the world's reserve currency. The Georgia Guidestones, a mysterious monument called the "American Stonehenge" with the inscription "maintain humanity under 500,000,000," was demolished after an explosion partially destroyed it. The previous day, the Large Hadron Collider at CERN restarted, provoking wide-ranging speculation about the connection between the various events.
Several news outlets reported that Elon fathered twins with Neuralink Executive Shivon Zillis. In response, he tweeted "Doing my best to help the underpopulation crisis" and added "Population of Mars is still zero people!" Nick Cannon responded "Right there with you my Brother!"
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At the time of publication, Dogecoin is around $0.07 per coin.