Dogecoin's Interplanetary Aspirations

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While its price has traded sideways over the last couple weeks, Dogecoin has been positioning itself for a potentially huge increase its adoption—both on Earth and in outer space.
Dogecoin developers continue working to make Dogecoin more efficient for terrestrial transactions, allowing any two people on the globe to exchange value quickly and cheaply.
At the same time, Doge has been taking aim at becoming the leading space crypto for future generations.
Let’s take a look at some big happenings in Dogecoin’s bid to become the future cryptocurrency of Earth and beyond.

Space Whale X
A photo of Elon and his son X Æ A-12 attending Virgin Galactic’s space flight led to an exchange between current and former Dogecoin CEOs on Twitter.
The two tweets raised the possibility that X “Diamond Hands” Musk could be the world’s youngest Dogecoin whale.
Is X the mastermind behind Dogecoin's rise?
Is X the mastermind behind Dogecoin's rise?
Elon reaffirmed Lil X’s Dogecoin position, claiming that his son continues to hodl his Doge “like a champ”.
Elon Musk
@AshleyIllusion1 @lexfridman Lil X is hodling his Doge like a champ. Literally never said the word “sell” even once!
In the past, Elon has advocated a multigenerational plan for human civilization, warning of population collapse and calling for people to have more babies to help populate Mars.
Elon Musk
@TeslaOwnersEBay @Kristennetten @RationalEtienne @EvaFoxU @JohnnaCrider1 @TeslaChillMode @CodingMark @Model3Owners @WholeMarsBlog @AustinTeslaClub I’m trying to set a good example! Population collapse is a much bigger problem than people realize and that’s just for Earth.

Mars has a great need for people, seeing as population is currently zero.

Humans are the custodians of other life on Earth. Let us bring life to Mars!
Funding multigenerational space projects could be a growing use case for crypto, and a way to get people in space faster over the next several decades.
Crypto and space have fit together for a while. Virgin Galactic started accepting Bitcoin for space flights in 2013.
Richard Branson
There are no words to describe the feeling. This is space travel. This is a dream turned reality https://t.co/Wyzj0nOBgX @VirginGalactic #Unity22 https://t.co/moDvnFfXri
Elon has proposed loaning citizens money to fund personal space travel, with the goal of getting a million people on Mars by 2050.
Could Mars-travel loans be made available through Decentralized Finance? Would Space X consider accepting Dogecoin as payment for trips to Mars?
Elon Musk
@PicklePunchD @Erdayastronaut Needs to be such that anyone can go if they want, with loans available for those who don’t have money
In May SpaceX was paid by engineering company Geometric Energy Corporation in Dogecoin for the Doge-1 lunar satellite, with plans to launch in the first quarter of 2022.
GEC CEO Samuel Reid said the transaction “solidified DOGE as a unit of account for lunar business in the space sector.”
Decentralized cryptocurrencies have an advantage over fiat money because they don’t require third-party institutions (which don’t yet exist in space) to exchange value.
Will Dogecoin be meme'd onto the moon?
Will Dogecoin be meme'd onto the moon?
Among cryptos, Dogecoin’s history of positivity and non-violence make it a logical choice as a leading form of moon money.
Space exploration requires peaceful cooperation between competitors and the ability to make plans decades in advance.
One big advantage Dogecoin has over many other currencies is that it is inherently peaceful.
Unlike much fiat money, Doge has never been used to fund violent wars or subjugation of one population by another.
In the crypto world, Doge’s positivity has helped reduce tribalism and remind people that cryptocurrency should involve lots of fun and dancing.
Richard Branson and Elon modeling non-tribalism and peaceful cooperation on the morning of the Virgin Galactic's space flight.
Richard Branson and Elon modeling non-tribalism and peaceful cooperation on the morning of the Virgin Galactic's space flight.
Short-term volatility aside, Dogecoin’s fixed rate of issuance theoretically makes it useful for decades-long space plans requiring financial certainty.
This is especially true at a time when governments across the world are racing to print massive amounts of money, rendering fiat currencies riskier as stores of value over the extended timeframes.
Unpredictable inflation makes fiat currencies less dependable stores of value. In contrast, a predetermined and immutable number of Dogecoin are issued each year.
Unpredictable inflation makes fiat currencies less dependable stores of value. In contrast, a predetermined and immutable number of Dogecoin are issued each year.
During times of crypto volatility like the last few months, it’s good to step back and consider Dogecoin’s incredible potential for human civilization.
The quest to make human life interplanetary requires long-term thinking. No perspective is more zoomed-out than outer space.
In the race to become the currency of space, Doge’s moon mission looks promising!
Terrestrial Technical Update
While Dogecoin vies to become the top space crypto, its developers have been working on making transactions more efficient to compete with Earth’s leading monetary networks.
The global standard for transaction efficiency is the Visa network, which is capable of settling 24,000 transactions per second and averages around 150 million transactions per day.
By comparison, the Bitcoin blockchain settles five to seven transactions per second, while Dogecoin does an estimated 30-40.
Dogecoin is already faster and cheaper than Bitcoin, but has a ways to go to before it can dethrone credit cards and become the world’s preferred means of exchanging value.
In May, Elon shared a broad vision for how Dogecoin could reshape the global financial system.
Elon Musk
@itsALLrisky Ideally, Doge speeds up block time 10X, increases block size 10X & drops fee 100X. Then it wins hands down.
Recently, he articulated his hopes for Doge’s efforts to scale by combining improvements to its blockchain with multiple transaction layers.
Elon Musk
@MattWallace888 BTC & ETH are pursuing a multilayer transaction system, but base layer transaction rate is slow & transaction cost is high.

There is merit imo to Doge maximizing base layer transaction rate & minimizing transaction cost with exchanges acting as the de facto secondary layer.
Elon Musk
@TeslaGong @PPathole @MattWallace888 It won’t need to reach visa speed, as regulated exchanges will act as de facto second layer.

But the perfect should not be the enemy of the good – it is still good to increase base layer transaction speed & lower base layer transaction cost.
Base layer refers to transactions that take place directly on Dogecoin’s blockchain.
Second layer transactions can refer to Dogecoin being moved from one account to another within a single exchange or protocol like Bitcoin’s Lightning Network.
Second layer transactions don’t require individual entries on the main blockchain. Exchanges can bundle several second-layer transactions on a side chain and later enter them to the main blockchain all at once.
This graphic depicts a second layer transaction between Frodo and a Coffee Shop, with the "Multi-Sig Wallet" representing an exchange or other third party which can bundle multiple small transactions before entering them on the main blockchain.
This graphic depicts a second layer transaction between Frodo and a Coffee Shop, with the "Multi-Sig Wallet" representing an exchange or other third party which can bundle multiple small transactions before entering them on the main blockchain.
Improving base-layer efficiency could entice exchanges and other third parties to build out infrastructure that supports second-layer Dogecoin payments if they believe it will be widely used for transactions.
An efficient base layer will also benefit people who don’t yet have access to regulated exchanges and second-layer solutions.
Crypto is expanding across the world, but it’s doing so unevenly. Some countries are farther along than others.
A recent study quantified levels of crypto-readiness among the world’s countries by measuring levels of crypto infrastructure and interest.
The top five crypto-ready countries. (Source: https://cryptohead.io/research/crypto-ready-index/)
The top five crypto-ready countries. (Source: https://cryptohead.io/research/crypto-ready-index/)
The ten most ready countries were all in North America, Europe, or Asia. None were in Africa or South America, where political will is building in some places for pro-crypto legislation.
To become the people’s crypto, Dogecoin should be easy to access for everyone on Earth. Improvements to Dogecoin’s main blockchain layer will disproportionately benefit people whose countries lack regulated crypto exchanges.
Elon also suggested that Dogecoin should aim to continually grow more efficient as internet bandwidth increases.
Elon Musk
@PPathole @MattWallace888 Block size & frequency should steadily increase to match broadly available bandwidth
One possible source of increased bandwidth could be Starlink Internet. SpaceX has been launching thousands of orbital satellites into the low atmosphere to increase availability of high-speed Internet across the world.
A model of Starlink satellite deployment from https://satellitemap.space/
A model of Starlink satellite deployment from https://satellitemap.space/
Starlink expects to be able to provide worldwide coverage for satellite internet by September of this year, but still has to go through regulatory processes before offering service in individual countries.
Tesmanian.com
SpaceX Starlink Broadband Service Is Now Available In Ireland

https://t.co/mL7zYiBeym
As Starlink scales, it will not be limited to Earth.
SpaceX aims to use Starlink to communicate with future colonies on Mars.
Starlink could become the bridge that allow simultaneous terrestrial and interstellar connection to Dogecoin’s blockchain.
Dogecoin's Interplanetary Future
Dogecoin’s ambitions for human civilization are bold.
In the near term, core development updates will allow any two people on Earth to transact with Doge instantly and cheaply.
As the space race heats up, cryptocurrency can press its advantages as one of the most efficient ways to transfer value across national and eventually interplanetary boundaries.
Among cryptos, Dogecoin’s fun, peaceful brand and early track record of space success are reasons for optimism.
As long as Doge keeps its positive vibes, it could become an important part of the multigenerational effort to expand civilization to other planets.
To the literal moon!
Dogey Treats: News Bites
Jack Dorsey announced Square was starting a new business building a financial services platform focused on Bitcoin. Square also plans to build a Bitcoin hardware wallet.
Dorsey and Elon will have a public conversation about crypto at the July 21st launch of Dorsey’s educational project The B Word.
Upcoin was hit by a rug pull involving Dogecoin influencer Upshod, whose YouTube channel and other social media were taken down.
Doge spinoff Floki Inu was rug pulled twice but the community saved it both times.
Dogecoin co-creator Jackson Palmer said he would not “return to cryptocurrency.”
Axe will release “Dogecan” on July 20th.
Dogecoin passed Bitcoin to become the second most-held cryptocurrency during Q2 on eToro trading platform.
A Dogecoin-themed cruise sails from Miami in April 2022.
Thank you!
Thanks for reading!
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What do you think? Is going interplanetary? Let me know!
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DisclaimerThis is not financial advice and I am not a financial advisor. The article above references an opinion for entertainment purposes only and it is not investment advice. Do your own research and consult with a licensed financial adviser before making any investment decision. Do not treat any opinion expressed in this newsletter as a specific inducement to make a particular investment. Content, news, research, tools, and securities symbols are for educational and illustrative purposes only and do not imply a recommendation or solicitation to buy or sell a particular security or cryptocurrency or to engage in any particular investment strategy. The information provided is not warranted as to completeness or accuracy and is subject to change without notice. The projections or other information regarding the likelihood of various investment outcomes are hypothetical in nature, are not guaranteed for accuracy or completeness, do not reflect actual investment results and are not guarantees of future results. All investments involve risk, losses may exceed the principal invested, and the past performance of a security, industry, sector, market, cryptocurrency, or financial product does not guarantee future results or returns. Dogecoin is a speculative and highly volatile asset susceptible to pump-and-dump schemes.
DisclosureI currently own some Dogecoin, Bitcoin, and Ethereum. At the time of publication, Dogecoin is around $0.19 per coin.
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