Photo: Resorts World Las Vegas
The Boring Company launches the ability to pay for rides in its tunnel with Dogecoin. Customers can simply scan the QR code and pay for the trip with cryptocurrency.
Dogecoin has received support again. The People's Cryptocurrency is now even more integrated into the operations of Elon Musk's companies. The Boring Company has launched a way for customers to pay for trips in its Loop using Dogecoin cryptocurrency.
The new payment method became available on Friday when the Boring Company opened a new station, Resorts World Las Vegas, its first Loop station outside of the Las Vegas Convention Center. The new station will complement the existing ones at the LVCC Loop, which provide direct underground access to the Las Vegas Convention Center (LVCC) in a pleasant, efficient, and environmentally friendly manner. This is possible thanks to Tesla cars, which deliver passengers to their destination in just a few minutes.
Paying with Dogecoin is very convenient and fast. Passengers will be able to scan the QR code displayed on the wall of the new Resorts World station to purchase a ticket. People who do not want to pay with Dogecoin can use a traditional credit card and US dollars. Paying in Dogecoin is very convenient, especially since it is gaining more and more popularity among ordinary people, which is the reason why Musk supports it.
Dogecoin started as a joke in 2013 and became a meme coin featuring a Shiba Inu dog. The combination of fun, affordability, and widespread adoption among the general public has attracted Musk, who has been a strong supporter of the coin in recent years.
Supporting Doge wherever possible— Elon Musk (@elonmusk) July 6, 2022
Observing Musk's comments about Dogecoin over recent years, it is clear he believes in the potential of the cryptocurrency and would like it to continue to develop despite its current imperfections. He is a longtime supporter of Dogecoin. The engineer believes that the meme coin is the best option for fast transactions. Musk explained that Bitcoin (BTC) is the main engine in the crypto market, but the volume of transactions is small and its cost is high. BTC can function as a store of value at its basic level, but is not suitable for daily use and the purchase of various goods.
Meanwhile, Dogecoin is better suited for transactions. The transaction flow of the coin is higher than BTC as it can process more transactions per day. Musk agreed that Dogecoin is slightly inflationary but argued that its inflationary number is fixed, and the percentage is not. With this theory, he believes the percentage of inflation decreases over time, encouraging people to spend Dogecoin instead of hoarding it as a store of value.
© 2022, Eva Fox | Tesmanian. All rights reserved.
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About the Author
Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.