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At the dawn of , crypto-currencies rolled in mass over the internets. Bitcoin was not enough, people wanted more. Among them, one started with the aim to make fun of all these new currencies with exotic names, created God-knows-why. It re-used a popular meme and its emblem: The movement started more than four years ago, when the first draft of what is called today a crypto-currency was launched on the internet, under the name of Bitcoin.
It became a valid mean of payment for many web services, and there is even a Bitcoin ATM in Vancouver. Dogecoin was part of this cypto-currency trend. To those unfamiliar with what Bitcoin or Dogecoin are, they are basically virtual currencies that use cryptography protocols for anonymity and security. They are not controlled by a state or a central bank, but are regularly issued by a computer program. The value of the currency is determined solely by the market supply and demand.
Jackson Palmer, co-creator of Dogecoin, said to Vice in December Far from this image lives Dogecoin. Ross Nicoll, Dogecoin developer, remember how it all started for him:.
Like many, I was first introduced to Dogecoin by being tipped a small amount of Dogecoins, and I think that first impression of being given something by the community is powerful. A software, called DogeTipBot, was developed to allow Reddit members to send and receive tips incredibly easily. The TipBot is currently being extended to Facebook and many other social networks.
So, what is Dogecoin? Is it something new? The community and what we do with the coin is what makes Doge…. About the economic model of Dogecoin, Ross Nicoll said: I hope this encourages people not to hoard coins for their own gain, but instead to tip or spend their coins. Combined with the actual value of the Doge, the economic model of Dogecoin can be a powerful invitation to tip.
People were figuratively throwing Doges at each other as a kind of kudos - like a new Facebook like, only this had some monetary value associated with it. I think the generosity of the community started to emerge from the tipping culture. Some individuals took it upon themselves to do their own smaller efforts as well, for example I remember someone bought pizza and essential supplies for the homeless with dogecoin and filmed himself giving it to a homeless shelter.
These campaigns made Dogecoin famous. It remains difficult to understand what led a simple project, although trendy at the time, to what constitutes Dogecoin today: Considering the whole thing started as a lark and was inherently absurd, we tried to keep it light and fun, all the while the popularity was exploding and things were happening so quickly. B A lot of pro-social traits kindness, politeness, tolerance, charity, etc. Dogecoin provides an avenue to do this, in a community that embraces it.
The community is self-organised, without hierarchical structure or representatives — so far. Even Jackson Palmer and Billy Markus, if they are still active, stepped down from any apparent leadership role. Many things are happening to the Dogecoin users, and their community pages are every day literally flooded with announcements and debates. Still, they seem to manage to find their way, thanks to several respected members. We have all heard stories about cyber-bullying, witch-hunts, and online hate in general.
People do type tough, and many find a comforting refuge behind their screen to act violently, although few would behave the same way in a real-life environment. That is why people choose Doge. We are making the world a better place by just being good people… I think the world needs this community more than ever. Reporter with the Centre for Investigative Journalism. Misses French wines a lot. Article The changing value of money.
Ross Nicoll, Dogecoin developer, remember how it all started for him: How this article was made points 10 backers 6 drafts 1 comment. Also in this issue.