A three-word Twitter post from Elon Musk about Dogcoin sparked speculation about whether Tesla’s experimental supercomputers could help the meme-inspired cryptocurrency.
Redditors suggested that he was referring to the powerful “Dojo” computer Tesla is building to train its artificial intelligence network. Oysters The hint The first version of the dojo – which takes its name from a martial arts school – will be ready by the end of this year.
Musk did not elaborate on what his tweet meant. But it caused a brief spike in Dogcoin on the Sunday before the tank price on Monday morning. The coin was recently trading at 5.2 cents, down about 5.6 percent the day before, According to CoinDesk.
Although Tesla reportedly plans to use the computer in its efforts to manufacture self-driving cars, some Reddit users claimed that it could also help stabilize the budding Dogcoin market.
“Dojo runs an AI algorithm that trades Doge and distributes it to keep the price level constant,” wrote a user posting under the name Billy28. “Aye ruled currency – welcome my son … to the machine!”
“AI can verify and process transactions. AI can detect fraud in real time. Efficiency, safety and trust, ”another user, Alonmuskadvis, wrote Monday. “The dojo is the key to dogging people’s coins.”
This post was the latest example of Musk’s ability to move DogCoin. His embrace of alternative cryptocurrencies began this year as a joke, but helped its value explode by more than 900 percent.
Dogecoin has clearly become a family affair for Musk – he and his children set up some beefed-up home computer rigs for “mining” the currency, the process of creating new coins by solving complex computational puzzles.