Thursday, Feb 09, 2023

Short History Of The Infamous Meme Currency: Dogecoin

Short History Of The Infamous Meme Currency: Dogecoin

Dogecoin became one of most talked about crypto along with Bitcoin and Ethereum. Especially the young investors have become fascinated by it. But also more notable investors have praised the coin both for its comedic origins and as a viable medium of exchange.

Dogecoin became one of most talked about crypto along with Bitcoin and Ethereum. Especially the young investors have become fascinated by it. But also more notable investors have praised the coin both for its comedic origins and as a viable medium of exchange.

But what exactly is this Dogecoin? What does it have to do with a Shiba Inu? And furthermore, why both Mark Cuban and Elon Musk promote this coin despite the that it literally started as a joke? Let’s have a look.

The Birth Of Dogecoin
As most already have heard, Dogecoin, quite literally, started as a joke. Billy Markus, a co-creator of Dogecoin, initially minted the coin in 2013. According to him the coin was created in, “about two hours.”

Originally made as a parody of Bitcoin, and based off of the popular “doge meme,” Dogecoin spread like wildfire in the crypto world. Quoting Investopedia:

“Jackson Palmer, a product manager at the Sydney, Australia office of Adobe Inc., created Dogecoin in 2013 as a way to satirize the hype surrounding cryptocurrencies. Palmer has been described as a “skeptic-analytic” observer of the emerging technology, and his initial tweets about his new cryptocurrency venture were done tongue-in-cheek.”

Later on, Markus reached out to Palmer to create a new cryptocurrency. When Markus’ desire to create a crypto and Palmer’s scrutiny towards crypto met, Dogecoin was born.

From Investopedia:

“Markus based Dogecoin’s code on Luckycoin, which is itself derived from Litecoin, and initially used a randomized reward for block mining, although that was changed to a static reward in March 2014. Dogecoin uses Litecoin’s scrypt technology and is a proof-of-work coin.”

Who or What Is Behind The DOGE Hype?

Elon Musk, or as he is widely known in the Dogecoin community “The Dogefather,” has been a huge supporter of the coin. In an SNL skit called “Weekend Update,” Musk is seen participating in a comical bit featuring the coin. As the skit ends, Musk yells: “To the Moon!” The studio audience is cheering following Musk’s remark.

Mark Cuban, a multi billionaire investor, is also a huge supporter of the coin, despite he recently revealed owning only $500 worth DOGE. Cuban has publicly shared his thoughts on Dogecoin as a utility:

“It’s a medium that can be used for the acquisition of goods and services. The community for doge is the strongest when it comes to using it as a medium of exchange.”

What The Future Will Bring?

Recently, notable figures have joined the Dogecoin Foundation, such as Vitalik Buterin – Ethereum’s founder, Jared Birchall – head of Musk’s family office, and Billy Markus, the co-creator of Dogecoin.

Despite a recent price volatility in prices, the team remains optimistic. According to Yahoo, “Now, the group is looking for three years’ worth of funding to hire a staff and work on Dogecoin full-time.” As always, the future is uncertain, but recent changes to the group can most definitely be viewed as a positive for Dogecoin investors.

Source: Short History Of The Infamous Meme Currency: Dogecoin –


Related Articles

Today's news from Britain - 9th February 2023
China has declined the US's request for Defense Secretary Lloyd Austin to speak with Chinese Defense Minister Wei Fenghe after the US Air Force shot down a suspected Chinese spy balloon, according to the Pentagon
The five largest oil companies in the West generated combined profits of nearly $200 billion in 2022, which has led to increased calls for governments to impose tougher windfall taxes
2 earthquakes in Turkey killed over 2,300 people
U.S. added 517,000 jobs in January, snapping five-month string of slowing employment growth
Powerful Earthquake Strikes Turkey and Syria, Killing More Than 1,300 People.
Turkish photographer Ugur Gallenkus portrays two different worlds within a single image. Brilliant work
Tennessee Bill Would Imprison People for 3 Years If They 'Lie' About Rape to Get an Abortion.
Charlie Munger, calls for a ban on cryptocurrencies in the US, following China's lead
EU found a way to use frozen Russian funds
First generation unopened iPhone set to fetch more than $50,000 at auction.
WARNING GRAPHIC CONTENT - US Memphis Police murdering innocent Tyre Nichols
House Speaker Kevin McCarthy said he will block Reps. Adam Schiff and Eric Swalwell from serving on the House Intelligence Committee
Almost 30% of professionals say they've tried ChatGPT at work
Interpol seeks woman who ran elaborate exam cheating scam in Singapore
What is ChatGPT?
Bill Gates is ‘very optimistic’ about the future: ‘Better to be born 20 years from now...than any time in the past’
Tesla reported record profits and record revenues for 2022
Germany confirms it will provide Ukraine with Leopard 2 tanks
Prince Andrew and Virginia Giuffre Photo Is Fake: Ghislaine Maxwell
Opinion | Israel’s Supreme Court Claims a Veto on Democracy
Moonwalker Buzz Aldrin Gets Married On His 93rd Birthday
Who’s Threatening Israeli Democracy?
Federal Reserve Probes Goldman’s Consumer Business
China's first population drop in six decades
Microsoft is finalising plans to become the latest technology giant to reduce its workforce during a global economic slowdown
Tesla slashes prices globally by as much as 20 percent
1.4 Million Copies Of Prince Harry's Memoir 'Spare' Sold On 1st Day In UK
After Failing To Pay Office Rent, Twitter May Sell User Names
Lisa Marie Presley, singer and daughter of Elvis, dies aged 54
FIFA president questioned by prosecutors
Britain's Sunak breaks silence and admits using private healthcare
Hype and backlash as Harry's memoir goes on sale. Unnamed royal source says prince 'kidnapped by cult of psychotherapy and Meghan'
Saudi Arabia set to overtake India as fastest-growing major economy this year 
Google and Facebook’s dominance in digital ads challenged by rapid ascent of Amazon and TikTok
FTX fraud investigators are digging deeper into Sam Bankman-Fried's inner circle – and reportedly have ex-engineer Nishad Singh in their sights
TikTok CEO Plans to Meet European Union Regulators
France has banned the online sale of paracetamol until February, citing ongoing supply issues
Japan reportedly to give families 1 million yen per child to move out of Tokyo
Will Canada ever become a real democracy?
Hong Kong property brokerages slash payrolls in choppy market
U.S. Moves to Seize Robinhood Shares, Silvergate Accounts Tied to FTX
Effect of EU sanctions on Moscow is ‘less than zero’ – Belgian MEP
Coinbase to Pay $100 Million in Settlement With New York Regulator
FTX assets worth $3.5bn held by Bahamas securities regulator
A Republican congressman-elect is under investigation in New York after he admitted he lied about his education and work experience.
Brazilian football legend Pele, arguably the greatest player ever, has died at the age of 82.
Hong Kong to scrap almost all its Covid rules
EU calls screening of travellers from China unjustified
US imposes Covid testing for visitors from China