Since beginning to acknowledge dogecoin as an expense for commodities in March, the Dallas Mavericks group has experienced significant sales closed with the meme-inspired cryptocurrency, said the team owner, Mark Cuban. In an attempt to continue this, Mark Cuban declared on Thursday that the company would provide a “special pricing” for those paying with dogecoins during the summer deal of Maverick.
However, dogecoin was generated as a joke, and its inventors never planned for it to be considered seriously; Mark Cuban states it has a different utilization case over other cryptocurrencies.
“It’s a medium that can be used for the acquisition of goods and services.” He further said, “The community for doge is the strongest when it comes to using it as a medium of exchange.”
In April, it was tweeted by Cuban that dogecoin is the one asset that individuals actually utilize for making purchases, though it was previously said by him that ether is utilized as online currency too.
According to Mark Cuban, bitcoin is the biggest cryptocurrency by market valuation, more as a digitized version of gold than any currency. And this is because bitcoiners commonly carry their stake long-term and value it as an investment that will appreciate.
The bitcoin community expects international acceptance for ether as well, but faultfinder says it is far too volatile and risky to be utilized as a currency.
Ether is also extensively utilized for the expense of online assets, such as nonfungible tokens or NFTs, which are presently a multibillion-dollar company.
However, economic experts are very doubtful about cryptocurrencies as a whole because of their risky nature and suggest that individuals should only capitalize on what they can afford to lose. Some professionals advise being particularly careful when capitalizing on dogecoin since it lacks the technological development and scarcity that bitcoin has.