Tesla May become first car company to accept Dogecoin, as it is already the first one to accept Bitcoin as a form of payment in the US.

Dogecoin has seen a stunning rise and because there is no upper limit, there could be 100 billion Dogecoin in circulation. Elon Musk has been a big supporter of Bitcoin and appears equally taken by Dogecoin.

He sent out a tweet recently asking his millions of followers if Tesla should accept Dogecoin as payment. Overwhelming 71% followers responded positively.

For something that was born from a meme, developed as a joke , Dogecoin has made a tall leap. Within the first quarter of 2021 its market cap has risen from around $1 billion to well $45 billion.

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KIA ANNOUNCES EXTENSION OF SCHEDULES FOR SERVICE DUE IN LOCKDOWN TIMES

Tesla Inc plans to add at least one new service center every week in 2021, Electrek reported on Thursday, citing a source familiar with the matter.

The electric carmaker has been expanding its network of service centers and Superchargers to keep up with its growing fleet.

Last week, analysts at Brokerage RBC noted that Tesla’s investment in service and quality has not been enough to keep up with its increasing sales and has the potential to damage the brand.

“Service could be particularly important as Tesla continues to try to expand outside its core market.”

The company, which has repeatedly said that it needs to expand its service center locations, operates 466 service centers around the world, according to Electrek.

Tesla could not immediately be reached for comment.

Source: Reuters

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Results of public beta testing of SpaceX’s Starlink, which provides global internet coverage from space are out. Users who took the test have confirmed blazingly fast results. To take the beta test, users had to purchase the Starlink ground equipment for $499 and along with an additional monthly fee of $99 for services.

One of the users, who took the test, posted on Reddit that he got the streaming 1440p and 4K with zero buffering on YouTube. He wrote, “Latency averages about 34ms, I'm seeing some jitter increase when obstacles are in the path. It's on the roof with the ridgeline mount. I have a couple of trees in the way, but getting steady high speeds. Noticed a couple of interruptions, probably from satellite transitions, but almost 100% steady since initial setup.

I actually uploaded this post using Starlink.”

“As a few different people are looking for details on this, interruptions are about ten to fifteen seconds and seem to happen every few minutes. I haven't noticed enough repetition to determine, but I'm suspecting it may be when the satellite goes behind the few trees inside the obstruction area rather than satellite handoffs. The app claims Starlink has not been obstructed recently, though, so I'm uncertain,” it added.

Starlink had earlier sent invites to people who had signed for the beta program. A user on Reddit had shared the key points Starlink had mentioned about its Internet plan. As per the post on Reddit, the program called Better Than Nothing Beta offered estimated speeds between 50mbps to 150mbps, estimated latency of 20ms to 40ms. The phased array antenna and the router would cost a user $499 while the monthly subscription would cost around $99.

“With performance that far surpasses that of traditional satellite internet, and a global network unbounded by ground infrastructure limitations, Starlink will deliver high-speed broadband internet to locations where access has been unreliable, expensive, or completely unavailable. Starlink is targeting service in the Northern U.S. and Canada in 2020, rapidly expanding to near-global coverage of the populated world by 2021,” the Starlink website reads.

Elon Musk plans new laws for Mars

Musk had revealed his plans of creating self-sustaining cities on Mars. The reports state that future colonies created by SpaceX would use Starlink satellites to provide internet connections to people. Starlink services provided to Earth or Moon will be governed by the laws of the State of California. “For services provided on Mars, or in transit to Mars or other colonization spacecraft, the parties recognize Mars as a free planet and that no Earth-based government has authority or sovereignty over Martian activities,” the governing law states.

Source: indiatoday

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The value of dogecoin plummeted in the early hours of Sunday in the United States after Tesla CEO and cryptocurrency supporter Elon Musk referred to it as a "hustle" during his appearance as a guest host on the comedy sketch TV show "Saturday Night Live."

Dogecoin was quoted as low as $0.47 on the cryptocurrency exchange Binance, down 28% from levels around $0.65 prior to the show.

The show began at 11:30 p.m. EDT on Saturday, hosted by billionaire Tesla Inc CEO Elon Musk (0330 GMT on Sunday).

Cryptocurrency enthusiasts had been waiting for him to say something for days, after his tweets earlier this year transformed the once-obscure digital currency into a speculator's dream.

Musk responded, "What is dogecoin?" "It is the currency of the future. It is an unstoppable financial vehicle that will rule the world."

Musk responded, "Yeah, it's a hustle," when show cast member Michael Che countered, "So, it's a hustle?" And then he laughed.

Musk is a one-of-a-kind businessman who has been asked to host the venerable comedy TV show. The timing puts Musk back in the spotlight at a time when Tesla's stock is losing steam after a monster rally last year.

The outlandish CEO has made numerous comments about cryptocurrencies on Twitter and has chastised traditional currency for having negative real interest rates.

In February, he said, "Only a fool would not look elsewhere."

That month, his cryptic tweets "Doge" and "Dogecoin is the people's crypto" sparked a rally in dogecoin, which was created as a parody of the more mainstream bitcoin and ethereum.

Musk tweeted on Thursday, "Cryptocurrency is promising, but please invest with caution!" with a video clip in which he stated, "At this point, it should be considered speculative. So, you know, don't get too far into crypto speculation..."

However, he also stated in the video that cryptocurrency has a "good chance" of becoming "the future currency of the Earth."

According to crypto data tracker CoinGecko.com, dogecoin has increased by more than 800% in the last month and is now the fourth-largest digital currency, with a market capitalization of $73 billion. It reached a new high of $0.73 on Thursday.

It has surpassed more popular cryptocurrencies such as litecoin and tether.

Tesla announced in February that it had purchased $1.5 billion in bitcoin and would soon accept it as a form of payment for its electric vehicles, a significant step toward mainstream acceptance that sent bitcoin to a record high of nearly $62,000.

On Friday, Tesla shares closed 1.3 percent higher at $672.37.

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