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Dogecoin is a virtual currency that was born during the year as a joke out of the memes. This currency is based on the popular Internet meme "Doge", which shows a dog Shiba Inu race with witty phrases and very funny. Its structure is very similar to the bitcoin, although there is a fundamental difference: In the world of Cryptocoins, "miners" are the ones who confirm that a transaction has been carried out. The process varies on each platform, transactions for the bitcoin can take between 10 minutes and 1 hour.
But in the case of Dogecoin, the confirmation takes place in just 1 minute. Like Bitcoin and its ramifications, Dogecoin can be extracted and exchanged for goods and services among participants, although it is programmed to level at an upper limit of up to billion coins and avoid the use of special equipment of Bitcoin mining as ASIC.
When you see your counterparts, the Bitcoin will have a limit of 21 million coins and Litecoin admit up to 84 million of coins in circulation. Some relevant facts since the creation of the Dogecoin: On November 27, , marketing professional Jackson Palmer published a tweet that would be "investing in Dogecoin.
The first two months respectively. By December 14th, an encyclopedic article describing the concept of "Dogecoin" had been presented by the Wikipedia editor CitationNeeded. As a result of piracy, Dogecoin became the most mentioned altcoin on Twitter. On January 14, , that day, the Wall Street Journal's Market Watch blog published a chart illustrating how Dogecoin's transactions had eclipsed the volume of Bitcoin and other altcoins combined in the previous month. Between January and February , the Dogecoin Foundation organized an open presentation contest for people to create a promotional video for the Cryptocoin.
After Dogewallet's trick, a goodwill fundraising campaign called "SaveDogemas" was launched to help donate coins to those who lost them. Within the next month, he raised enough Dogecoin to cover all losses. On January 19, , a Indiegogo page was created by members of the Jamaican Bobsled team to finance their trip to the Sochi Winter Olympics. On January 29, days before the inauguration of the Sochi Winter Olympics, the Washington Post reported on uphill battles facing three Indian athletes participating in the games, such as having to compete without a national flag, due to Sanctions of the International Olympic Committee for a corruption scandal, and as a result, the lack of enthusiastic support from the Indian Olympic Committee, including the costs of their travels.
In March , the Dogecoin Foundation announced a new one-month initiative to collect 40 million from Dogecoin to finance the creation of two water wells in a city in eastern Kenya. Baptized as "Doge 4 Water", the charity campaign will continue until the "World Water Day" on March 22nd, when donations will be converted to dollars for transfer.
Wise learned of the sponsoring campaign and published a tweet thanking the Dogecoin community for their support. The Reddit publication was later updated with 3d rendered models of a racing car sponsored with the Dogecoin symbol in the front hood and "Wow such racecar" in the bumper, which were designed by Redditor Mimicthefrench. Dogetipbot was released by Redditor Josh Mohland in as a way to tip other Redditors with Dogecoin. On May 8, , Mohland published an announcement that all Dogetipbot's currency balances had been erased to 0 after spending all of their money and declared bankruptcy under Chapter 7.
In addition, it revealed that Dogetipbot would be completely closed on December In the interview, Palmer expressed concern that Dogecoin's success could be a disturbing sign for the market: The story narrated is quite extensive, and although some of the stories are quite interesting note that they have done really good works, highlights the violation of their security parameters by a hacker, it is also worrisome that it takes more than two years without a Update and its rise and fall in prices is given by publicity.
Although you should not deny the advantages that can be obtained depending on the time of your transactions. Making an investment or not left to the decision of each person, the truth is that its value is increasing and with good estimates for the future. The graph represents 3 months of its value in dollars. I hope this information has liked you, and help you to increase your knowledge of this Cryptocoin.
What a great article! I didn't know anything about the history of Dogecoin and I'm impressed that it was hyped even to place 7 on CMC, years ago. I just thought it was a meme fork from bitcoin with a higher supply and no development. Please keep up the good work, especially referencing your sources is great if you want to take a deeper look. Upvoted and callin on the originalworks and steem-untalented upvotes for your post.
The OriginalWorks bot has determined this post by cain to be original material and upvoted it! To call OriginalWorks , simply reply to any post with originalworks or!
Please note that this is a BETA version. Feel free to leave a reply if you feel this is an error to help improve accuracy. I like the doge. It is a good way for people to get into crypto wihout going broke. I dont know how much it will increase but there is lots of potential.
If a proved to be responsible in his worst moments and also show good heart to me I also like. Thanks for the support I appreciate it. Dogecoin a joke or you have to take it seriously. Source image Dogecoin is a virtual currency that was born during the year as a joke out of the memes. Source image Source image Source image Its structure is very similar to the bitcoin, although there is a fundamental difference: Authors get paid when people like you upvote their post.
If friend also learned a lot during my research. Thanks for the support. Oops did you have when he came down? Thanks for the well written article.
Delighted to make your acquaintance. Your Post I lived through all of the events in your article. Laughed all the way to my bank account Especially loved all the memes during the Jaimacan bobsled team in I'm so glad you liked it. Grateful for your support. Thank you friend for the support.