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SpaceX accepts dogecoin as payment to launch lunar mission next year

Stock MarketsMay 09, 2021 07:02PM ET
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2/2 © Reuters. Cryptocurrency representations are seen in front of the Dogecoin logo in this illustration picture taken April 20, 2021. REUTERS/Dado Ruvic/Illustration 2/2

(Reuters) -SpaceX will launch the "DOGE-1 Mission to the Moon" in the first quarter of next year, with Elon Musk's commercial rocket company accepting the meme-inspired cryptocurrency dogecoin as payment.

"SpaceX launching satellite Doge-1 to the moon next year – Mission paid for in Doge – 1st crypto in space – 1st meme in space", Musk said in a tweet https://

Geometric Energy Corporation announced the dogecoin-funded mission earlier on Sunday, with the statement not disclosing the mission's financial value.

"This mission will demonstrate the application of cryptocurrency beyond Earth orbit and set the foundation for interplanetary commerce", SpaceX Vice President of Commercial Sales Tom Ochinero was quoted as saying in the statement released by Geometric Energy.

Musk said on Twitter in April that SpaceX was going to put a "literal Dogecoin on the literal moon".

Dogecoin lost more than a third of its price on Sunday, after Musk called it a 'hustle' during his guest-host spot on the "Saturday Night Live" comedy sketch TV show.

Musk's tweets this year turned the once-obscure digital currency, which began as a social media joke, into a speculator's dream.

On crypto data tracker CoinGecko.com, dogecoin has jumped more than 800% over the last month and is now the fourth-largest digital currency, with a market capitalization of $73 billion. It hit a record high Thursday above $0.73.

Electric carmaker Tesla (NASDAQ:TSLA) Inc, where Musk is CEO, said in February it bought $1.5 billion worth of bitcoin and would soon accept it as a form of payment for its electric cars, a large stride toward mainstream acceptance that sent bitcoin soaring to a record high of nearly $62,000.

SpaceX accepts dogecoin as payment to launch lunar mission next year
 

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Comments (18)
Danil Jaya Saputra
Danil Jaya Saputra May 10, 2021 1:21AM ET
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in the past,,,thomas a edison,wright brother,,,alot of people call them crazy a dreamer but what now? people who buy this coin are the dreamer too,,same like me,,and time will tell 🤗
Sameer Rashid
Sameer Rashid May 09, 2021 9:08PM ET
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He really meant it when he said TO THE MOON. Love it!!
AA AA
AA AA May 09, 2021 8:51PM ET
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“Cryptocurrencies basically have no value and they don't produce anything… In terms of value: zero,” Buffett had told CNBC last year. “I don't have any cryptocurrency and I never will,” he had said.
Gershom Zvi
Gershom Zvi May 09, 2021 8:51PM ET
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He is too old to have it
Maharab Hassan
Maharab Hassan May 09, 2021 8:51PM ET
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Buffet change every year.
AA AA
AA AA May 09, 2021 8:49PM ET
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You need currency (dollar, rupees, yen, yuan etc..) to but this virtual money (BTC, ETH, XRP, DOGE, etc..). What FH is that? hahaha
Gershom Zvi
Gershom Zvi May 09, 2021 8:49PM ET
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Right now real money (21st century) is not backing by gold They are the same like a crypto
igor bogdanoff
igor bogdanoff May 09, 2021 8:49PM ET
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Gershom Zvi Fiat currency is backed by the economic output of the issuing country.  Countries who try to use fiat with no economic output tend to have financial crisis, the US has had significant influence on the rest of the world since WW2 and continues to even as China tries to exert their influence.
Hardeep Singh
Hardeep Singh May 09, 2021 8:49PM ET
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People making millions in crypto and you talking ******{e:f09f9882}}
Dee Morris
Dee Morris May 09, 2021 8:31PM ET
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Is he making these odd and unrealistic statement due to his Asperger's Autism diagnosis? YES.
igor bogdanoff
igor bogdanoff May 09, 2021 8:31PM ET
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I really doubt he has Asperger's.  A lot of people 'self-diagnose' with it to cope with the fact that they're sociopathic jerks.
Mike Chen
Mike Chen May 09, 2021 8:22PM ET
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Musk made the right choice. Create own currency and trade his products with its currency. His company has unlimited potential!
CHAD TENDIES
CHAD TENDIES May 09, 2021 7:30PM ET
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Late Stage capitalism at its finest
HD HD
HD HD May 09, 2021 7:22PM ET
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lol. we are living in a wacko world
Joel Schwartz
Joel Schwartz May 09, 2021 7:22PM ET
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And yet, the FED refuses to raise interest rates. Companies making up their own currencies and that’s legal, apparently.
Joel Schwartz
Joel Schwartz May 09, 2021 7:12PM ET
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Oh no way. Musk’s company accepts a coin he’s been pumping as payment? This is like Apple accepting Apple Pay. This isn’t even news.
igor bogdanoff
igor bogdanoff May 09, 2021 7:12PM ET
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Apple Pay is pretty strictly regulated, crypto isn't.
Louis Lipps
Louis Lipps May 09, 2021 6:27PM ET
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Zero people will be using scamcoin to be taking any lunar trips basically ever.  Anyone who thinks lunar trips will even happen need their heads examined.  Biggest bubble of our lifetimes.  Not the entire market just the ridiculous things like dogecoin and tesla etc....
Dhia Betar
Dhia Betar May 09, 2021 6:27PM ET
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Misk ;- The poster child of our current golden age of fraud .
Stan Smith
Stan Smith May 09, 2021 6:27PM ET
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True...Tulip coins are just a distraction from REAl assets with REAL intrinsic value
حسن الفتلاوي
حسن الفتلاوي May 09, 2021 6:27PM ET
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minutes ago· Reply
JAMES CUNHA
JAMES CUNHA May 09, 2021 6:24PM ET
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Instead of advertising for Mr. Musk or his companies, why doesn't the reporter do his or her job and ask the important questions, such as, how much is SpaceX charging Geometric Energy Corporation for this so-called lunar mission?  Otherwise, it comes across as a scam. imo
Casino Crypt
CasinoCrypt May 09, 2021 5:52PM ET
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good luck folks to losing and making money based on tweets and SNL shows .
alex gallegos
alex gallegos May 09, 2021 5:52PM ET
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It's a virtual casino.
Joel Schwartz
Joel Schwartz May 09, 2021 5:52PM ET
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alex gallegos No. Literal casinos have more oversight and regulation than our current markets.
Ron Love
Ron Love May 09, 2021 5:44PM ET
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Will take Doge as payment? SpaceX doesnt sell products, they are funded by the US government.
Investing Man
Investing Man May 09, 2021 5:11PM ET
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If you are mistaken about crypto like those below it is why you missed out so far. Stocks arr produced infinitly. Compnanies release them as desired by the hundreds of millions or billion sometimes. Doge is no different. Since many factors beyond math impact the price of crypto currencies Doge can reach a value of 1$ or 100000$. There is no limit
igor bogdanoff
igor bogdanoff May 09, 2021 5:11PM ET
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I see you don't understand how dilution, valuation and anything else surrounding stocks work.  The current price of any cryptocurrency isn't dictated by math and they barely follow technicals, let alone have any fundamentals.  The hallmark of a good 'currency' is stability, and if crypto like ethereum wants to fulfill its goal of disrupting institutional finance, it would have done a better job of making the very thing that makes those services work a speculative asset.
James Stuart
James Stuart May 09, 2021 5:11PM ET
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Clearly you know nothing about crypto. In another 10 years you are going to kick yourself in the balls for not paying attention. lol
igor bogdanoff
igor bogdanoff May 09, 2021 5:11PM ET
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James Stuart I didn't buy 10 years ago when btc was 50$, but did some 'mining'.  I understand the technology fine but it solves no problems and only attempts to create new ones in order to become relevant.  DeFi is a meme and I really hope it doesn't take off.  Lot of fly-by-night companies appearing out of nowhere claiming to have a viable alternative to brokerages and banks, yet lack some pretty important features banks have(and are mandated to have).  Moreover, even for something like ethereum that wants to 'disrupt the world of finance', it makes no sense to make the underlying 'currency' a speculative asset.  Unless something truly substantial comes in the next few years I won't be convinced.  Realistically, block chain is just a data structure.  It's not even that revolutionary, and most use cases other data structures make more sense.  But I digress.
Edward Nors
Edward Nors May 09, 2021 5:01PM ET
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And for perspective, with BTC there are 21 million total tokens of which under 3 million remain unmined. With DOGE, the current supply is 129 billion, with 10,000 DOGE mined every MINUTE.
Charles Sims
Charles Sims May 09, 2021 4:55PM ET
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2/3 of the total DOGE supply is owned by 0.002% of wallets. There is over 70% of DOGE supply in the top 100 wallets. There is a reason that wealthy early investors are luring people into the market in a token with absolutely no utility. I am all for crypto, but DOGE is a true ponzi - self-proclaimed - it has absolutely no utility in the crypto space. I am not saying it will not go up more, but I think that DOGE is just being used to enrich the wealthy investors who got in at prices 90-99%+ lower and lots of retails will get hurt. If Musk really cared about the crypto space, he would be promoting blockchain technology and tokens with utility, not a joke token. So many more worthy tokens/projects that do not have their supply centralized in the hands of a few wealthy people.
rizwan aslam
rizwan aslam May 09, 2021 4:48PM ET
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Hehehehe
Subin Stephen
Subin Stephen May 09, 2021 4:22PM ET
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excellent.
 
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