Discover more from Risky Reads
The Future of Dogecoin
THIS Is Why Doge's Best Days Lie Ahead
It’s impossible to predict the future under any circumstances, and certainly not with something as incredible as Dogecoin.
However, over the last two years, Elon Musk has laid a trail of breadcrumbs for how Doge could rise from the status of lowly memecoin to revolutionize the financial system.
Let’s take a look at four huge developments that could launch Doge to the moon and beyond...
Thanks for reading The People’s News for the People’s Coin.
Are you hearing about Elon Musk a lot these days?
My 𝕏 subscribers and I are reading Walter Isaacson's new biography about Elon Musk to demystify the man behind the Mars mission.
The DOGE-1 lunar satellite is scheduled to launch in a month.
The mission has been hyped since the day after Elon’s SNL appearance. We later learned that he insisted on taking only Dogecoin from satellite’s maker GEC for the launch, meaning SpaceX is likely sitting on a giant bag of Doge.
Once DOGE-1 begins to orbit the moon, GEC will accept cryptocurrency tokens to run advertising, which the satellite displays on a screen. The ads will be streamed to a YouTube channel, and maybe even Times Square.
GEC CEO Samuel Reid has also hinted at the possibility of future Dogecoin-themed satellites.
Reid recently acquired two million Dogecoin, leading to speculation that a DOGE-2 satellite could be in the offing.
In the longer term, Dogecoin could become the leading cryptocurrency for lunar commerce, giving the phrase “to the moon” new meaning.
The ultimate meaning of DOGE-1 may be that it gives Dogecoin a fresh burst of legitimacy.
After the hype died down from 2021’s Dogecoin Rise, various mainstream reporters and crypto influencers eulogized Doge as “yesterday’s news.”
The launch of the meme-themed satellite could rewrite the narrative, establishing that Dogecoin’s best days are ahead and DogeFam is here for the long haul.
II. Currency of 𝕏
Since buying Twitter and rebranding to 𝕏, Elon has dropped several hints that he plans to integrate the platform with Dogecoin.
The location on his profile has read 𝕏Ɖ for more than 69 days, and he has liked and responded to several posts advocating for making Doge the official currency of 𝕏. Earlier this year, he even turned the Twitter bird logo into a Doge.
One of the first things he could do is enable a Dogiecoin tip jar for all users. Dogecoin is the original tipping crypto of the Internet, rising to prominence in 2013 as a favored way for Reddit users to reward good posts.
A Doge tip jar would dramatically revamp the 𝕏 economy, allowing more users to get paid for their content. A single viral post could earn thousands of Dogecoin from grateful readers who want to support their favorite creators.
The introduction of a grassroots crowdfunding mechanism like Doge tipping would incentivize everyone to create high quality content that entertains and teaches rather than just generates views. Reader gratitude, measured in Doge, would become the ultimate metric for online creators.
In the bigger scheme, 𝕏 could allow users to pay Dogecoin for Subscriptions, Verification, paywalled articles, and even physical goods and services. There’s no telling how big Dogecoin will get when it starts circulating on 𝕏.
III. Accepted by Elon’s Companies
Since May 2021, Tesla, SpaceX, and The Boring company have all made steps to integrate Dogecoin.
At the beginning of last year, Elon announced that Tesla taking Dogecoin for merchandise. Items priced on Doge on the Tesla website regularly sell out quickly.
The big enchilada for Tesla/Doge integration is Dogecoin for vehicles, and there continue to be hints that this too is in the works.
Most notable is a recent discovery of code mentioning Dogecoin in the Cybertruck sales page.
Another intriguing breadcrumb was a 2022 Tesla drone light show that featured a Cybertruck, Doge meme, and an image from Tesla’s vehicle purchase webpage in immediate succession.
A few months after Tesla made its initial merch play, The Boring Company started taking Doge for fare on its Vegas Loop tunnel.
Elon has talked about similar tunnels becoming ubiquitous in other major American cities. Imagine if they all accepted Dogecoin.
SpaceX already accepted Doge to launch DOGE-1, and Elon has teased Doge for SpaceX merch as well.
That only leaves Neuralink: in the sci-fi future, will people be able to use brain implants to send Dogecoin micro transactions?
IV. The People’s Crypto
When Elon first threw his support behind Dogecoin, he dubbed it “the people’s crypto.”
The aa people’s cryptocurrency is more than just good branding. It contains the possibility that Dogecoin will bank the unbanked people of the world.
How could this happen? Starlink is currently in the process of expanding internet service across the globe.
In 2024, it will activate “Direct-to-Cell” service for TMobile users, which orbital satellites can provide Internet service to individual cell phones. Elon has encouraged other carriers to collaborate with Starlink as well.
What this means is that Starlink will soon allow Dogecoin transactions to take place anywhere on Earth using satellite Internet, including the remotest jungles and deserts on the planet.
This is a big deal for parts of the world without legacy banking services. All it will take to be your own bank is a cell phone and 𝕏 account or Dogecoin wallet.
As Starlink and 𝕏 press their technological advantages, it’s possible for Dogecoin to become a truly global medium of exchange favored by people everywhere, regardless of borders or nationality.
The idea of a people’s currency that can’t be controlled by the financial establishment won’t sit well with banks and governments, but in the end, the people have the power to decide what counts as money by using Dogecoin.
No one knows for sure what the future holds for Dogecoin.
If the past is any indication, there will be many surprising and unexpected developments. It’s impossible to predict the future under any circumstance, and certainly not with something as extraordinary as Doge.
Still, over the last two years, Elon has provided a roadmap for how Dogecoin could go mainstream.
DOGE-1, 𝕏-integration, acceptance by Tesla/SpaceX/TBC, and Starlink could all contribute to the next Dogecoin Rise, a once-in-a-lifetime opportunity to take part in alternate grassroots financial system.
Let me know what you think: did I miss anything? How do you think Dogecoin adoption will happen?
Dogey Treats: News Bites
Own the Doge announced Internet celebrity Tay Zonday would accompany the trip to Japan for Doge Day. Tay has sung about Doge-adjacent topics in the past, including “Mama Economy” and his most recent song “Fiat Fire.”
Fake news about the SEC approving BlackRock’s Bitcoin ETF caused its price to rise and fall 10% within minutes Monday morning. BlackRock CEO Larry Fink said of the news, “It’s an example of the pent up interest in crypto…Crypto will play the role of ‘flight to quality.’ ”
Thanks for reading! Consider sending a tip or Subscribing on 𝕏 to help keep the newsletter going!
Memes of the Week
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 𝕏 if you enjoyed this article.
What do you think? Are Dogecoin’s best days ahead of it? Let me know!
Remember, Dogecoin is risky. But then again, it’s all risky!
Follow on 𝕏 at @itsALLrisky
Send an email to itsALLrisky@gmail.com
Send a Doge tip: DJ2zTEdHBD3guHLfVaNBaypr6bHFG5Nwfw
This article was written in collaboration with @CryptoDogDivine, give them a follow!
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. Always assume that the author of the article is actively trading and that the opinions expressed may be biased towards the author’s holdings. 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.
At the time of publication, Dogecoin is around $0.06 per coin.