January 30, 2023

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AMC Theatres mobile app accepts Dogecoin, Shiba Inu and more

AMC Theatres mobile app accepts Dogecoin, Shiba Inu and more

CoinRegWatch03 mins

AMC Theatre CEO Adam Aron disclosed that the iOS and Android mobile apps accept crypto payments via integration with BitPay, a bitcoin payment service provider.

AMC Theatres, an American pro-crypto movie theater chain, updated its mobile app services to accept Dogecoin (DOGE), Shibu Inu (SHIB) and other cryptocurrencies as payment across the United States. 

AMC Theatres first started accepting crypto payments back on Nov. 12, 2022, which allowed customers to purchase movie tickets online using Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH) and Litecoin (LTC).

On Jan. 6, 2022, Adam Aron, the CEO of AMC Theatres, promised users via a tweet to include meme tokens DOGE and SHIB by March. While slightly delayed, Aron’s team delivered.

In the announcement, Aron disclosed that the AMC Theatres iOS and Android mobile apps could accept crypto payments via integration with BitPay, a bitcoin payment service provider. 

However, the names of the other newly supported cryptocurrencies are yet to be revealed. To use the feature, users in the U.S. are advised to download the latest version of the mobile app.

Related: Singaporean fintech adds Bitcoin payments for merchants with BitPay partnership

Nium, a Singapore-based cross-border payments firm, released an API-based solution in partnership with BitPay, which allow businesses to start accepting payments in crypto — starting with BTC and ETH.

As Cointelegraph previously reported, crypto payments via BitPay are converted and sent to merchants’ accounts in U.S. dollars or other fiat currencies the next business day.

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Robinhood CEO outlines how DOGE could become 'currency of the internet'

Robinhood CEO outlines how DOGE could become ‘currency of the internet’

CoinRegWatch05 mins

Robinhood CEO Vladimir Tenev took to Twitter to explain how DOGE could become the future currency of the internet just hours after Dogecoin’s creator criticized Elon Musk for his Twitter antics.

Robinhood CEO Vladimir Tenev took to Twitter on Thursday afternoon to explain how Dogecoin could become the “future currency of the internet.”

In a thread of 12 posts to his nearly 200,000 followers, Tenev outlined what steps need to be taken to transform the memecoin into a usable asset for everyday payments and transactions on the internet.

Tenev began by drawing attention to the fact that Dogecoin’s transaction fees — roughly $0.003 per transaction — are already small enough to place the altcoin as a feasible e-cash frontrunner.

He believes the block size and the block time of Dogecoin are the main areas that require improvement if the cryptocurrency is to become widely adopted.

Dogecoin currently has a 1MB block size and a 1 minute block time which means that Dogecoin’s total throughput stands at approximately 40 transactions per second (TPS).

In comparison, the VISA network has a throughput of approximately 65,000 TPS — meaning that DOGE would need to increase its total throughput by roughly 1,625 times in order to be on par with VISA. Tenev says that this isn’t a worry, and can be solved simply by increasing DOGE’s block size limit from 1MB to 1GB and eventually to 10GB.

Tenev finished the thread with a message to the developers of Dogecoin, urging them to focus on increasing the block size limit above all else.

Tenev’s thread was published just three hours after Dogecoin creator Jackson Palmer took aim at former “Dogecoin CEO” Elon Musk’s planned potential hostile takeover of Twitter.

“It takes some pretty impressive mental gymnastics to associate any type of ‘freedom’ with the richest man in the world initiating a hostile takeover and forcing one of the largest public social media platforms private,” said Palmer in a tweet to his 41,000 followers.

Palmer doesn’t mince words when it comes to criticizing Musk. In mid-May last year, Palmer called Musk a “self absorbed grifter” and claimed that the billionaire’s viral performance on Saturday Night Live was “cringe, bro.”

The price of Dogecoin remains relatively unaffected by these recent events, with the token trading sideways between the $0.14 and $0.15 mark over the past seven days.

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