I believe that Elon is waiting until *after* the successful launch of the new update before he announces that Tesla will begin to accept Dogecoin (amongst other cryptos,) and heres why:
– One of the aims of the update is to address the fee amount when using Dogecoin. It is already low but they have mentioned previously that they aim to scale it back by a factor of (hopefully) up to 100. This means that currently (for example) a $1000 transfer using Dogecoin might have a fee of $15 – After the update, it *should* have a fee of $0.15. What a massive difference this will make to the community!
– Michi Lumin (Dogecoin Dev u/michilumin) has recently mentioned about how crazy it is that if you tip someone $1 using PayPal, (due to the fees) then less than half of that amount goes to the recipient. Billy (One of Doge’s creators u/BillyM2k) also mentioned a little while back that he would love to see a return of Doge-Tipping. Reduced fees would greatly increase the chances of this becoming a reality! If you plan to send someone a $1 tip and it costs the pair of you $0.51 to do it, is it worth it? Whereas, if it costs just $0.05 or less, the chances are that you would be more inclined to send it, right?
– Elon (famously) and previously put out a twitter poll asking if people wanted Tesla to start accepting Dogecoin. Whilst we haven’t had any updates on this for quite a while, we know that Elon is somewhat involved or at least notified about the progress of the “Dogedate” He knows better than anyone that waiting for the update would mean that less fees = everyone is happy as it would potentially increase adoption of the currency!
– The Dogecore Devs have a Developer Fund that aims to eventually pay the Devs a wage of sorts to enable them to work on Doge Devving full time instead of in their spare time.
– The market seems to be on the rise again (after a huge fall) – If we can get our floor comfortably into the 40’s or 50’s then Elons announcement would probably be all it needs to drive Doge to $1!
– Lastly, you will notice my mention of “Dogecoin amongst other cryptos” Elon faced quite a backlash when he pulled Bitcoin as an available option for purchasing Teslas with. I think in order to not face a similar backlash again, he may announce that Tesla will accept Doge and some other “greener” cryptos etc.
Thanks for coming to my TedTalk /s
Edit: Thanks to u/DogeDayAftern00n – I had forgotten about the Space Billboard! Perhaps this is going to tie into it somehow too! Giving Doge yet another use-case and making Dogecoin amongst the first space-ads!