Musk Calls on Dogecoin to Lower Fees for Consumers

Elon Musk, the well-known Tesla and SpaceX chief, said he thinks dogecoin fees should be reduced to make cheaper purchases for things like movie tickets.

His announcement caused a stir on Twitter.

Musk is a big fan of dogecoin and has become its most popular advocate, with his tweets having influenced its volatility in the past. The coin was created as a joke “meme coin.”

The news comes after AMC recently said it was planning to allow other cryptocurrencies such as bitcoin and ethereum to be used to buy tickets and other things at its theaters. CEO Adam Aron then made a poll pondering whether he should include dogecoin in the list, which ended up seeing users vote in favor 0f it.

In response to all of it, including Robinhood rolling out wallets recently, too, Dogecoin co-creator Shibetoshi Nakamoto said it was a welcome development.

“[T]he crypto market finally seeing some green. I gotta say…” he tweeted.

“Super important for Doge fees to drop to make things like buying movie tix viable,” Musk replied.

After Musk’s announcement, Aron said the theater chain would be working to figure out how to accept dogecoin.

“I never thought I would see this day. @ElonMusk liked my Dogecoin Twitter Poll tweet. If you happen to see this tweet too Mr. Musk, congratulations on Tesla and SpaceX. I have strived to be an innovator my entire career, but you sir are the epitome of innovation above all others,” he tweeted, also including the poll results.

The frenzy started after AMC initially announced it would be accepting the cryptocurrencies and then making the poll – which received an overwhelming 68 percent of votes in favor of accepting dogecoin.

The other votes included 16% saying no, 9% saying yes, but they would not use it, and 7% thought the issue wasn’t important.

Read more: AMC May Accept Dogecoin for Theater Payments After Twitter Poll

——————————

NEW PYMNTS DATA: TODAY’S SELF-SERVICE SHOPPING JOURNEY – SEPTEMBER 2021

About: Eighty percent of consumers are interested in using nontraditional checkout options like self-service, yet only 35 percent were able to use them for their most recent purchases. Today’s Self-Service Shopping Journey, a PYMNTS and Toshiba collaboration, analyzes over 2,500 responses to learn how merchants can address availability and perception issues to meet demand for self-service kiosks.