Tesla Ditches Bitcoin Reference in Payment Code, Spares Dogecoin

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    In a new fact that contradicts the circulating rumors, Tesla reportedly edited out references to Bitcoin (BTC) from the payment page source code while leaving references to Dogecoin intact.

    Chinese reporter Colin Wu, acclaimed for his insight into the blockchain and cryptocurrency industry, took to Twitter to debunk the speculation and prove: Bitcoin (BTC) and Dogecoin (DOGE) have been embedded in Tesla’s source code since January 2023.

    Rumors are rife in the cryptocurrency world that Tesla may be reintroducing Bitcoin as a payment method. However, a thorough fact-check proved that Bitcoin and Dogecoin were part of Tesla’s source code as far back as January 2023. Wu’s research, sourced from web archive data, reveals that the recent code changes did not introduce these cryptocurrencies, but have been since the beginning of the year.

    But Tesla hasn’t kept quiet about these speculations. In a recent move, the tech giant has removed all references to “Bitcoin” from its payment page source code. Notably, Wu’s inspection revealed that the “dogecoin” code string remained intact.

    The Past Relationship Between Tesla and Bitcoin

    2021, Tesla pause Bitcoin is being used to buy cars because of growing concerns over the use of fossil fuels, especially coal, in mining and trading Bitcoin. The company emphasized its belief in the potential of cryptocurrencies, but argued that its development should not adversely affect the environment.

    This decision provoked a range of reactions, Michael Thaler, MicroStrategy’s executive chairman, offers an opposing perspective. He argued that the energy consumption of bitcoin transactions would not bring an extra burden and would strengthen the entire cryptocurrency network. He further hypothesized that the long-term net impact on fossil fuel consumption could be detrimental.

    Tesla Removes Bitcoin References From Payment Codes, No Dogecoin

    Musk’s impact on Dogecoin

    Elon Musk, the CEO of Tesla, who is well known for his influence in the crypto world, recently said: tweeted A seemingly nonsensical remark about the cartoon character Scooby-Doo is captioned “Doges ftw.” This was another attempt to put Dogecoin in the spotlight and increase its value. In fact, after his tweet, Dogecoin’s market cap temporarily increased by about $320 million in just 15 minutes.

    Musk’s motives behind these maneuvers remain unclear. However, Bloomberg’s Matt Levin suggested that Musk’s tweet could be an easy and effective way to increase the value of Dogecoin and potentially profit on subsequent sales.

    Dogecoin Market Reactions

    Following these events, dogecoinperformance of It has a huge impact on decentralized financial markets. In the last 24 hours to the time of this writing, the cryptocurrency has risen 4.34% and is trading at $0.073952 with a volume of around $705 million.

    Ranked 8th coin market capWorld’s largest digital asset by market capitalizationDogecoin currently boasts a market value of around $10 billion (which makes it a big asset). The circulating supply is about 140 billion DOGE, but the maximum supply remains undisclosed.

    Tesla Removes Bitcoin References From Payment Codes, No Dogecoin

    DOGE/USD price chart, source: coin market cap

    As the cryptocurrency market continues to evolve, it will be interesting to monitor how Tesla’s actions and Musk’s tweets affect the value and reputation of various cryptocurrencies. While Tesla’s recent removal of references to Bitcoin has raised questions, the company’s decision to keep references to Dogecoin in its payment code has certainly sparked intrigue and speculation among market watchers and crypto enthusiasts alike.

    An article about Tesla removing Bitcoin references in payment codes and sparing Dogecoin first appeared on MetaNews.


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