Dealerships

Houston supercar dealer now accepting Dogecoin as payment

Post Oak Motor Cars now accepts Dogecoin and Bitcoin as payment.

Photo courtesy of Post Oak Motor Cars

Post Oak Motor Cars is now accepting dogecoin, a cryptocurrency that recently gained new heights of popularity following support from Tesla founder Elon Musk, as a form of payment. New Bugatti, Bentley, Karma, and Rolls-Royce vehicles are sold at the boutique sales location next to Houston's only five-star hotel, The Post Oak Hotel at Uptown Houston.

This is the second form of cryptocurrency the Houston dealership has accepted. In 2018, Post Oak Motor Cars announced that it would allow customers to pay using bitcoin after integrating cryptocurrency processor Bitpay into its payment system.

Buy Sport, Premium and Luxury cars with Bitcoin from Post Oak Motor Cars. www.youtube.com

Dogecoin was created in 2013 by software engineers from IBM and Adobe. In 2014, the currency briefly passed Bitcoin and all other cryptocurrencies in trading volume. Fast forward to 2020 when a TikTok trend encouraged people to purchase dogecoin in an effort to get the value to $1. By January 2021 Musk, Gene Simmons, Snoop Dogg, and GameStop short squeeze Redditors were all in on the buying binge pushing dogecoin's value to new heights.

In March of this year, Dallas Mavericks owner Mark Cuban announced that the team would allow the public to purchase tickets and products with the digital currency. Within two days, the Mavs had carried out over 20,000 Dogecoin transactions.

Last week, dogecoin's value was up 400 percent week-over-week, hitting an all-time high of $0.46 valuation on April 16. It is currently the fifth-highest valued cryptocurrency and its value is up 6,000 percent year-to-date. According to CNN, the total value of the dogecoins in circulation is nearly $50 billion.

Post Oak Motor Cars is owned by businessman Tilman Fertitta, CEO of Fertitta Entertainment. The billionaire is also the the chairman, CEO, and owner of Landry's, Inc. and owner of the Houston Rockets NBA team. The Rockets online shop currently allows customers to purchase items using Bitpay. Bitpay facilitates transactions for users wishing to complete a purchase using Bitcoin, Dogecoin, and other cryptocurrencies.

Buyers are currently able to buy a Tesla using Bitcoin, but despite Musk's appreciation for the brand faced by a Shiba Inu, dogecoin is not currently accepted as a form of payment.

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Cadillac will be the first brand with Ultra Cruise

General Motors

Tesla has been in hot water for a while now for shenanigans pulled by owners abusing the automaker's advanced cruise control functions. While the company's Full Self Driving (FSD) tech isn't quite ready for primetime, other automakers are catching up – quickly. Today, General Motors announced Ultra Cruise, its advanced driver assistance tech that promises to allow hands-free driving in 95 percent of driving scenarios.

Ultra Cruise Ultra Cruise will build on Super Cruise functionality.General Motors

GM notes that its goal is to eventually roll the service out to all paved roads in the U.S. and Canada. When it launches, the service will work on over two million miles of roads, which could nearly double as the program expands.

Ultra Cruise will offer a host of automated driving features that build on Super Cruise:

  • Dynamic display system
  • Ability to react to permanent traffic control devices
  • Follow internal navigation routes
  • Maintain headway and follow speed limits
  • Support automatic, on-demand lane changes
  • Support left and right turns
  • Support close object avoidance
  • Support parking in residential driveways

The system uses LiDAR, radar, and cameras to build a 360-degree, three-dimensional picture of the world around it. An additional LiDAR unit is located behind the windshield. GM notes that a big part of the system is its Human Machine Interface (HMI), which communicates with the driver to alert them when they need to take control. Ultra Cruise-equipped vehicles will do this with a head-up display that helps drivers stay focused on the road, and will use the same driver monitoring cameras that are used in Super Cruise.

Ultra Cruise Ultra Cruise will enable hands-free driving in the majority of driving scenarios.General Motors

Ultra Cruise will first be available in Cadillac vehicles starting from 2023. There's no word on pricing or specific vehicle availability at this time.

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The Roadster's specs are impressive, to say the least.

Tesla

Elon Musk took to a stage in late 2017 to announce a new product, the second-generation Tesla Roadster, and the numbers were impressive, even for a guy known to casually drop massive bombshells in 160 characters or less on Twitter. He pledged a 620-mile range and a 0-60 mph time in 1.9 seconds for the car – impressive specs, to be sure. When Musk unveiled the car, production was scheduled to commence some time in 2020, but as we all now know, last year wasn't a banner year for car manufacturing. In January, he pushed that date back to 2022, but the timeline has slipped again - into 2023 at this point - and that's only if everything goes smoothly between now and then.


Tesla Roadster Supply chain issues have caused delays in the Roadster's release.Tesla


Responding to a tweet on Wednesday, Musk stated that "assuming 2022 is not mega drama, new Roadster should ship in 2023." That's a pretty big asterisk, given how things have been going over the last 18 months. It's not surprising, though, and Musk acknowledges what we've known for some time now: The global supply chain is a mess, thanks to microchip shortages and pandemic-related closures and delays. "2021 has been the year of super crazy supply chain shortages," he said, admitting that "it wouldn't matter if we had 17 new products, as none would ship." Again, it's not surprising, but it is most likely frustrating for reservation holders, who've plopped down anywhere from $50,000 to $250,000 to hold an order for the Roadster.




Tesla is far from being the only automaker to experience delays, but even if we assume that the rest of 2021 and the beginning of 2022 go smoothly, there's still a lot that can happen. All of Tesla's suppliers would have to get their ducks in a row and there can be no COVID-related production delays. That would also peg 2022 as one of the automaker's flagship years for product releases, with both the Semi and Cybertruck on the schedule. It's possible, but far from guaranteed, that all of those pieces fall into place, making Tesla's 2022 a banner year. As for the Roadster, 2023 could be the year that we're all blown away by its range and acceleration, but recent history suggests that anything can happen at any time, so we won't be holding our breath.

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