Discover more from Risky Reads
Elon's Master Plan for Dogecoin
Last week, Tesla’s AI Day blew expectations out of the water.
After the presentation, commentators noted that Elon Musk’s various companies appeared to be converging into a vertically integrated mega-corporation for colonizing Mars.
However, most people overlooked the important role that Dogecoin could play in such an enterprise.
Is Doge for Mars inevitable?
Let’s take a look at Elon’s master plan for Mars and Dogecoin.
The Mars Stack
Tesla put on a mind-blowing presentation at AI Day.
Like 2020's Battery Day, AI Day pulled back the curtain on how Tesla is remaking civilization's core technology from the ground up.
Tesla Bots and FSD could improve life over the next few years by saving thousands of lives and making manual labor optional, but something even bigger is brewing.
Are these new technologies being created with an eye toward inhabiting Mars?
The Mars Stack Theory—the idea that Elon's disparate ventures will converge into a Mars colony over the coming decades—is extremely compelling, but it's missing a key insight: the colony will need a new kind of money.
Mars Money Upgrade
Elon has repeatedly talked about money as an information system.
"Money" he's said, "is just data that allows us to avoid the inconvenience of barter."
As a technology for conveying information, the present-day fiat system suffers from its pre-Internet origins: it's slow, error-prone, and opaque, making it an easy target for manipulation by bad actors.
It also does a poor job of encouraging the creative spirit inherent in all humans. Countless would-be makers are trapped in unfulfilling jobs just to pay rent, while trillions of dollars sit idly in the bank accounts of a wealthy few.
The failure of the system has serious negative consequences. From the rigged stock market to student debt to inequality to war, our money is implicated in many of society's worst failures.
Part of the allure of the Mars colony is the chance to jettison baggage from the past and reimagine civilization from the ground up.
Elon has already made it clear that Mars won't recognized Earth-based laws, instead adopting its own self-governing principals.
All this isn't to say that life on Mars is destined to be a utopian cakewalk.
Unforgiving frontier conditions will demand the colony operate at peak efficiency. Faulty money that promotes conflict, waste, or corruption could easily jeopardize the whole project.
A sound monetary system, by comparison, would allow colonists to focus civilization-building work like food, infrastructure, shelter, community, and exploration.
To give humanity a fresh start, the Mars Colony needs Dogecoin.
Doge and the Mars Economy
The Mars Stack is a vertically integrated supercompany designed to generate new civilizations.
For an undertaking of this scale and ambition, it's more efficient to create in-house money than rely on currency controlled by uncontrollable outside entities like banks and governments.
By all appearances, Doge is in the early stages of auditioning for the role of the Stack's native coin.
Here are some hypothetical scenarios describing how Doge could bridge together different Mars Stack enterprises:
A colonist uses a self-driving vehicle to carry out a scouting mission. He is paid Doge, which he sends back to Earth over Starlink so his family can buy tickets for a SpaceX flight to join him.
A family generates excess electricity from Tesla solar panels, which is sold back to the grid for Doge. The profits are used to pay for an underground expansion of their settlement.
An indoor farmer programs her Tesla Bot to grow food, which she sells for Doge at a local market. The profits are reinvested into another greenhouse and more Bot laborers in order to expand the operation.
For Doge to hold up as a medium of exchange in the Mars economy, it'll need to be accepted by Tesla, SpaceX, and other businesses. That hasn't happened yet, but it could happen sooner than we think.
Doge will also have to keep improving technically. With an upcoming fee reduction in the works, the good news is that Doge continues to advance towards Mars-readiness.
This past week saw the release of Dogecoin node 1.14.4, which will enable lower fees and make the network more secure.
Meanwhile, Starlink announced it had shipped 100,000 satellites and is now operating in 14 countries, another sign that Doge's infrastructure is gearing up for the big time.
There's no guarantee Doge becomes the currency of Mars, but it sure looks like it has a head start on everyone else!
The Mars Colony may feel like it's a long ways off, but things are moving quickly.
If AI Day is any indication, a world of autonomous vehicles, AI-powered manual labor, UBI, and ubiquitous dog money may be closer than you think.
Whether spending, hodling, running a node, engaging with the community or making memes, Dogecoin gives people a chance to participate in a giant beta test of the Mars economy.
To the Mars!
Dogey Treats: News Bites
What does a passage from the WWI history The Guns of August have to do with Dogecoin?
A purchase or transfer of $1.5 billion worth of Dogecoin was recorded on the blockchain.
A fractionalized Doge NFT briefly hit nine figures.
AMC and GameStop broke out 69 days after Elon tweeted about them.
Amazon asked the FCC to block plans for a second-generation Starlink network.
Dogecoin trended in India.
According to Nic Carter, Elon Musk's comments catalyzed transformation in the Bitcoin mining industry to become more environmentally sustainable while it relocated from China to North America.
Three Arrows Capital CEO Su Zhu is very bullish on Doge.
Thursday was International Dog(e) Day.
Illinois' Lake Forest County Treasurer is accepting donations in Dogecoin for her 2022 election campaign.
Thanks for reading! Consider sending a tip to help keep the newsletter going!
It's ALL Risky!
Thank you, kind reader, for reading and subscribing to this newsletter. I really appreciate it!
If you haven’t already, please sign up to this email newsletter for more weekly articles like this one. Also, please share it with a friend or on twitter if you enjoyed this article.
What do you think? Is Dogecoin going to Mars? Let me know!
Remember, Dogecoin is risky. But then again, it’s all risky!
Follow me on twitter at @itsALLrisky
Email me at itsALLrisky@gmail.com
Send a Doge tip: DHA5831Aoh2CVhBdX8rAv74kEGzqDg9BUx
This article was written in collaboration with @CryptoDogDivine, give them a follow!
Memes of the Week
Don't forget to subscribe to this newsletter!
Disclaimer: This is not financial advice and I am not a financial advisor. The article above references an opinion for entertainment purposes only and it is not investment advice. Do your own research and consult with a licensed financial adviser before making any investment decision. Do not treat any opinion expressed in this newsletter as a specific inducement to make a particular investment. Content, news, research, tools, and securities symbols are for educational and illustrative purposes only and do not imply a recommendation or solicitation to buy or sell a particular security or cryptocurrency or to engage in any particular investment strategy. The information provided is not warranted as to completeness or accuracy and is subject to change without notice. The projections or other information regarding the likelihood of various investment outcomes are hypothetical in nature, are not guaranteed for accuracy or completeness, do not reflect actual investment results and are not guarantees of future results. All investments involve risk, losses may exceed the principal invested, and the past performance of a security, industry, sector, market, cryptocurrency, or financial product does not guarantee future results or returns. Dogecoin is a speculative and highly volatile asset susceptible to pump-and-dump schemes.
Disclosure: I currently own some Dogecoin, Bitcoin, and Ethereum. At the time of publication, Dogecoin is around $0.29 per coin.