Dogecoin
description: a cryptocurrency that started as a meme but has gained a large online following
48 results
Cryptoassets: The Innovative Investor's Guide to Bitcoin and Beyond: The Innovative Investor's Guide to Bitcoin and Beyond
by Chris Burniske and Jack Tatar · 19 Oct 2017 · 416pp · 106,532 words
the end of 2016, a list of the top 50 included:12 Bitcoin, Ethereum, Ripple, Litecoin, Monero, Ethereum Classic, Dash, MaidSafeCoin, NEM, Augur, Steem, Iconomi, Dogecoin, Factom, Waves, Stellar Lumens, DigixDAO, Zcash, Lisk, Xenixcoin, E-Dinar Coin, Swiscoin, GameCredits, Ardor, BitShares, LoMoCoin, Bytecoin, Emercoin, AntShares, Gulden, Golem, Tether, ShadowCash, Xaurum, Storjcoin
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strengths, as it aims to be a speedy payment system that rethinks correspondent banking but still requires some trust, for which banks are well suited. Dogecoin A somewhat comic cryptocurrency addition arrived on December 8, 2013 (less than two weeks after bitcoin hit a notable high of $1,242) in the
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form of dogecoin.30 Dogecoin was launched as a riff off Doge the dog, which Wired magazine had pegged as 2013’s meme31 of the year.32 Doge was a
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Shiba Inu dog whose image with captions of an internal monologue went viral. Dogecoin was initially floated as a joke. Jackson Palmer, who worked in the marketing department of Adobe’s Sydney offices and was a cryptocurrency enthusiast, sent
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the tweet: “Investing in Dogecoin, pretty sure it’s the next big thing.”33 After a positive reception to what was intended as a joke, he bought the domain
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, Dogecoin.com. Jackson’s activity caught the attention of Billy Markus, a Portland, Oregon-based developer who aspired to launch a new cryptoasset. In Markus’s
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thing I said was, ‘This is so funny.’ Then I said, ‘I should just make this coin.’”34 Markus used Litecoin’s code to derive Dogecoin, thereby making it one more degree of separation removed from Bitcoin. If Litecoin was a child of Bitcoin, then
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Dogecoin was a grandchild of Bitcoin. A notable variation was that Dogecoin planned to issue a much larger amount of dogecoin than bitcoin or even litecoin. The plan was to have 100 billion dogecoin in circulation after 1.5 years.35 That would equal
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year, and this created a vastly different supply schedule from those of the deflationary bitcoin and litecoin. Dogecoin mostly gained traction amongst Internet tippers. The supply schedule has kept the value of a single dogecoin to a fraction of a cent, which is suited to its intended use case. As Palmer stated
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whether they’ll become rich … It’s something to share for thanks or kudos.36 Palmer’s marketing expertise was another feature that differentiated Dogecoin from other cryptocurrencies at the time. The Dogecoin community raised $50,000 via Dogecoin to send the Jamaican bobsled team to the Olympics; raised another $55,000 via
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Dogecoin to sponsor a NASCAR driver who raced with the Dogecoin logo at the Talladega Speedway; and raised money to support clean water projects in Kenya via Doge4Water, making the donation via a Twitter-based tip
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service.37 While Dogecoin may have been launched as a joke, its association with a wildly popular Internet meme, its lighthearted origins, and its savvy focus on slick marketing
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the year that the price of bitcoin ranged from $13 in January to over $1,000 in early December.39 The power and enthusiasm of Dogecoin’s user community shouldn’t be dismissed, even if we encourage the innovative investor to do ample due diligence on it as an investment. While
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Dogecoin had its flaws, it continues to exist and has taught the cryptocurrency space valuable lessons about gathering community support in an Internet era. AURORACOIN: ICELAND’
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interesting times ahead if its developer team can figure out a way forward. THE RACE FOR PRIVACY: DASH, MONERO, AND ZCASH While Litecoin, Ripple, and Dogecoin all added elements to the mix of what it meant to be a cryptocurrency, they did not provide the privacy that many early Bitcoin advocates
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illegal activity. Fortunately, this is one problem that Monero does not have to deal with. Monero’s supply schedule is a hybrid of Litecoin and Dogecoin. For monero, a new block is appended to its blockchain every 2 minutes, similar to Litecoin’s 2.5 minutes. Like
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Dogecoin, however, it will have a small degree of inflation for its entire life beginning in May 2022, when 0.3 monero will be released every
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proof-of-concepts for the community to evaluate, organizing conferences, funding projects based on Ethereum, and writing frequent blog updates.21 Perhaps taking note from Dogecoin, the Ethereum team understood the importance of the community in bootstrapping support for its decentralized system. Although blockchain architectures are cold code, they are warm
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few issuance models in detail, like those of Bitcoin and Monero, the most important aspect is that the issuance model fits the use case. With Dogecoin we saw that it needed lots of units outstanding for it to function as a tipping service, which justifies it currently having over 100 billion
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units outstanding, a significantly larger amount than Bitcoin. With many people turning to bitcoin as gold 2.0, an issuance model like Dogecoin’s would be a terrible idea. • • • The next avenue to pursue information often depends on the maturity of the cryptoasset. For Bitcoin, more than eight
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/12/best-memes-2013/. 33. http://www.businessinsider.com/what-is-dogecoin-2013-12. 34. Ibid. 35. https://github.com/dogecoin/dogecoin/issues/23. 36. http://www.businessinsider.com/what-is-dogecoin-2013-12. 37. http://www.financemagnates.com/cryptocurrency/education-centre/what-is-dogecoin/. 38. http://www.abc.net.au/pm/content/2013/s3931812
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, 271 DJIA. See Dow Jones Industrial Average DLT. See Distributed ledger technology DNS. See Domain naming service Documents, 258. See also Articles Dodd, David, 139 Dogecoin, 43–44 Dollar, U. S. (USD), 114 Bitcoin and, 122 Velocity of, 178 Domain naming service (DNS), 39 Domingos, Pedro, 19 Dow Jones Industrial Average
The Age of Cryptocurrency: How Bitcoin and Digital Money Are Challenging the Global Economic Order
by Paul Vigna and Michael J. Casey · 27 Jan 2015 · 457pp · 128,838 words
the broader question of how communities develop around cryptocurrencies. Bitcoiners can learn from how passions have been stirred by some of them. Case in point: dogecoin, an altcoin that started out as a joke by Billy Markus and Jackson Palmer in December 2013 that quickly took on a life of its
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“dohj.” That name was then applied by someone else to a picture of a Shiba Inu dog that appeared to be smiling. For its software, dogecoin borrowed some of the ideas of litecoin’s founder, Charlie Lee, who had tweaked the mining system for his coins so that miners weren’t
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in competition with each other as they were with bitcoin. But just as important, if not more, to dogecoin’s appeal were the two main goals that its emerging community set for itself: dogecoin was going to be fun, and its members were going to use their currency to do good deeds
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. Dogecoin was going to be philanthropic. Interest in the currency rose, as did its price on cryptocurrency markets, where it
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traded against bitcoins, which could then be sold for dollars. This meant that dogecoins had real value and could be used to raise
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money for causes. One member of the Dogecoin Foundation read about the Jamaican bobsled team’s being short of funds for a trip to the
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Sochi Olympics in 2014 and proposed raising money for their trip. Through campaigns launched on Reddit and elsewhere, with instructions about which wallet to send dogecoins to, they quickly raised the equivalent of $25,000 in their currency. Next, somebody suggested clean-water wells in Kenya. They raised $30,000 for
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wells in Kenya. They raised money for a coffee shop in Manchester, England. Our favorite dogecoin endeavor had more to do with marketing than philanthropy, though. Somebody read about a young NASCAR driver, Josh Wise, who was racing without a sponsorship
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word. In short order, the dogies rallied around the idea, transferred coins to the designated wallet, and raised more than $55,000 (about 67 million dogecoins), enough to get their beloved Shiba Inu pictured on the hood of Wise’s #98 Moonrocket, which made its debut in May 2014 at the
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television. “It’s not traded in dollars, but a win here would pay 596,664,147 dogecoins.” In roughly four months, a community of thousands materialized. Their passion and zeal for their brand has catapulted dogecoin from a joke based on a meme to what may turn out to be a relatively
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legitimate cryptocurrency. When GoCoin decided that it would start offering payment-processing services in dogecoin as well as bitcoin and litecoin, Chairman Brock Pierce explained that it was driven by the power of its community. “Community is everything for a
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and cultural production associated with cryptocurrency, these alternative communities are helping a wider cryptocurrency community to fulfill a grander, shared purpose. * * * The philanthropy component to dogecoin provides a valuable lesson to bitcoiners on the power of good deeds to breed support. Within the bitcoin community, a similar ethos has developed on
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its strength: because it’s cheaper to mine litecoins and because scrypt-based rigs can be used to mine other scrypt-based altcoins such as dogecoin, miners are less heavily invested in permanently working its blockchain. In theory, that could raise the risk of a 51 percent attack if enough of
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. Tapestries are on the walls, and black-light fluorescent tubes on the ceiling. Each hallway has its own street sign, too: Litecoin Lane, for example. Dogecoin Drive. Most doors are covered in posters and pictures as if in a college dorm. A couple dozen bikes hang on the wall of the
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the economy, they will just cut it down, whereas if the only way for you to enrich yourself is by trading bitcoins for litecoins and dogecoins, you are going to become an expert in that … you will become the best trader in Pakistan.” Rulli prefers to focus on another route that
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out as a joke by Billy Markus and Jackson Palmer: Patrick McGuire, “Such Weird: The Founders of Dogecoin See the Meme Currency’s Tipping Point,” Motherboard, December 23, 2013, http://motherboard.vice.com/blog/dogecoins-founders-believe-in-the-power-of-meme-currencies. Through campaigns launched on Reddit: For an overview of
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dogecoin fund-raising efforts, The Dogesonian has an overview at http://thedogesonian.weebly.com/the-early-dogecoin-projects.html. Also see Roop Gill, “Manchester Co-op
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Gets a Hand from Dogecoin to Smash Fundraising Targets,” CoinDesk, April 22, 2014, http://www.coindesk
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.com/manchester-co-op-gets-hand-dogecoin-smash-fundraising-target/. Our favorite dogecoin endeavor: Paul Vigna, “BitBeat: Dogecoin Makes Its NASCAR Debut; Ripple Signs a Bank,” Wall Street Journal, MoneyBeat blog, May 5, 2014, http://blogs.wsj.com/moneybeat/2014/05/05/bitbeat
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-dogecoin-makes-its-nascar-debut-ripple-signs-a-bank/. When GoCoin decided that it would: Michael J. Casey
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, “BitBeat: Much Good, Dogecoin; So Hip,” Wall Street Journal, MoneyBeat blog, March 13, 2014, http://blogs.wsj.com/moneybeat
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/2014/03/13/bitbeat-much-good-dogecoin-so-hip/. though with bitcoin’s market capitalization more than ten times: as per the market capitalizations of the top 100 cryptocurrencies quoted at coinmarketcap.
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Citadel Afghanistan Africa A-Grade Investments Ahmadi, Parisa AIG Airbnb Akimbo Alamgir, Nadia Alcoholics Anonymous Aleph Alibaba Alipay Alisie, Mihai Allaire, Jeremy al-Qaeda altcoins dogecoin litecoin Realcoin Alyattes, King Alydian Amazon Amazon Cloud American Express AME Ventures Amidi, Saeed Andolfatto, David Andreessen, Marc Andreessen Horowitz Andresen, Gavin Android angel investors
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and decentralization Dell Depression, Great de Soto, Hernando DigiCash DigitalTangible Dillinger, Ray Dimon, Jamie Diocletian, Emperor Dish Network distributed network Dixon, Chris Dodd-Frank Act dogecoin Dogecoin Foundation dollar bitcoin and gold standard and inflation and value of dollar bill Donald, James A. dot-com bubble double-spending Draper, Adam Draper, Bill
The Bitcoin Guidebook: How to Obtain, Invest, and Spend the World's First Decentralized Cryptocurrency
by Ian Demartino · 2 Feb 2016 · 296pp · 86,610 words
, but for now, Litecoin remains faster. Recently, Litecoin started merge mining (i.e., mining two coins with the same algorithm at the same time) with Dogecoin. Both coins use Scrypt, so hashrates can be put toward both coins simultaneously. There was no downside for Litecoin miners and the merge helped secure
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the Dogecoin network by bringing Litecoin miners onto it. Dogecoin Algorithm: Scrypt with AuxPoW Mining Type: Proof-of-Work Block Time: 1 minute Difficulty Re-target: Digishield (variable) Block Reward (current
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): 10k Doge Reward Curve: Halves every 840,000 blocks Total Number of Doge: 100 billion [goal, variable] If Litecoin is the most popular serious cryptocurrency, Dogecoin—pronounced either “Doggy Coin” or “Douje-Coin” depending on whom you ask—is the most “viral.” Originally intended as a joke
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, Dogecoin ended up being a major hit with better-than-average staying power. The key to Dogecoin’s early success was its mascot. A Shiba Inu dog that had become an Internet meme has served
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meant to survive long-term from a technical perspective, as it offered extremely high rewards early on to benefit early adopters. It is arguable that Dogecoin was set up as a pump-and-dump itself. This aspect hasn’t stopped it from thriving as a currency. A coin’s community can
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be extremely important and Dogecoin’s community is top-notch. Great at natural, viral marketing, the community has worked extremely hard to keep the “joke” going. Those who entered early
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profited greatly. Dogecoin, in addition to practically taking over the Internet with its “doge-speak,” also gained some fame when it sponsored a NASCAR driver. Josh Wise drove
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with a Dogecoin Shiba Inu on his car after the community, relying entirely on donations, paid more than $55,000 to get the image on there.3 I
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about a little logo next to the tailpipe, either. It was a mural painted on the hood of the car. Josh Wise was driving “the Dogecoin Car.” Later, in a story that would have made John Candy’s ghost feel warm inside, the community helped sponsor the Jamaican Bobsled team, getting
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the team to the Sochi 2014 Winter Olympics.4 As I’ve mentioned, however, Dogecoin was never designed to survive long-term, so when it lasted longer than anyone—including its original developers—had expected, it ran into some issues
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. Dogecoin was designed to benefit the early adopters by making 90 percent of the mining rewards come early in the coin’s creation. As the supply
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of Dogecoins dwindled, so did its mining reward, its hashrate and, ultimately, its security. With less mining reward, more miners decided to point their hardware at more
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profitable currencies. Although network difficulty is supposed to compensate for any declining interest in or value of a coin, Dogecoin’s extreme drop-off of miner rewards could not be easily managed. Dogecoin had gained a large overall market cap and with its hashrate quickly dropping, a 51% attack became a real
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possibility. The solution came by way of Litecoin. After much discussion in both communities, Litecoin decided to enable merged mining with Dogecoin. Despite the exceedingly small rewards
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available on the Dogecoin network, Litecoin miners still benefited from this decision. Since they use the same algorithm, both coins can be mined simultaneously without
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a decrease in mining of either.5 What this did was enable Dogecoin’s network to be secured by Litecoin’s miners, and anyone looking to force a double-spend through a 51% attack would have to match
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both the Litecoin network’s hashrate and that of Dogecoin. Afterward, merge mining became a popular feature in a lot of smaller cryptocurrencies. Dogecoin isn’t the future of Internet currency, as even its most adamant supporters admit. But that doesn’t
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’t have a place in the meantime. It has already passed all expectations and the rest of the cryptocurrency scene could learn a lot from Dogecoin’s community and its successes. Ripple/Stellar Ripple Labs technically existed before Bitcoin itself.6 It was originally a payment processor not all that different
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own stock market. It is also worth noting that many of Counterparty’s features have been ported to another platform that was built on the Dogecoin system, not surprisingly named Dogeparty. Counterparty has a few systems built around it already and more are coming all the time. Mastercoin/Omni Like Counterparty
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.” Ars Technica. April 7, 2014. Accessed June 21, 2015. http://arstechnica.com/information-technology/2014/04/farewell-to-arscoin-preparing-to-kill-our-cryptocurrency/. 3 “Dogecoin to Sponsor Josh Wise at Talladega.” NASCAR.com. May 22, 2014. Accessed June 22, 2015. http://www.nascar.com/en_us/news-media/articles/2014
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/5/22/josh-wise-dogecoin-sponsorship-talladega-sprint-fan-vote.html. 4 Davidson, Kavitha A. “Jamaican Bobsledders Ride Dogecoin Into Olympics.” BloombergView.com. February 4, 2014. Accessed June 22, 2015. http://www.bloombergview.com/articles/2014-02
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-04/jamaican-bobsledders-ride-dogecoin-into-olympics. 5 Higgins, Stan. “Dogecoin Community Celebrates as Merge Mining with Litecoin Begins.” CoinDesk. September 11, 2014
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. Accessed June 22, 2015. http://www.coindesk.com/dogecoin-celebrates-litecoin-merge-mining/. 6 Buterin, Vitalik. “Introducing Ripple.” Bitcoin Magazine. February 26, 2013. Accessed June 22, 2015. https://bitcoinmagazine.com/3506/introducing-ripple/. 7
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/112268/op-ed-how-bitcoin-could-change-how-we-interact-with-sports. Index A Alternative Cryptocurrencies: Arscoin, 283 Blackcoin, 309 Bytecoin, 304 Dash/Dark, 294 Dogecoin, 289 Ethereum, 311 Litecoin, 287 LTBCoin, 318 Monero, 304 Namecoin, 68, 305 NuBits, 296 NXT, 297 Paycoin, 148 Peercoin, 303 Ripple, 234, 291 Stellar, 291
Number Go Up: Inside Crypto's Wild Rise and Staggering Fall
by Zeke Faux · 11 Sep 2023 · 385pp · 106,848 words
be worth anything at all. But from 2020 to early 2022, the prices of Bitcoin and hundreds of other lesser coins—with ridiculous names like Dogecoin, Solana, Polkadot, and Smooth Love Potion—were going up and up. While I was in the Bahamas, people traded more than $500 billion worth of
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know anything about it other than its name,” he wrote. “I am very bored.” He didn’t even have the name right. It was called “Dogecoin,” pronounced “dohj,” and it was a cryptocurrency based on a meme of a Shiba Inu glancing to the side. Don’t worry about how exactly
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a dog joke turns into a financial asset—even Dogecoin’s creator didn’t understand how it happened. Like most cryptocurrencies, it had no “revenue” or “profits.” There was no reason why it should have
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any value. I told Jay all this. I said that, as a joke, Dogecoin wasn’t even funny. He didn’t care. “I fully understand how stupid this is. That’s why it’s funny to me,” Jay wrote
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-year-old professional who owned a house with a pool in a nice Boston suburb and served on two charitable boards. As he read about Dogecoin on Reddit, he grew convinced that for some reason, other people would buy the dog-joke cryptocurrency too. It wasn’t a crazy thing to
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that bet against it. Then they took this nihilistic, buy-it-for-the-LOLs mentality to crypto. Dogecoin replaced politics and dad jokes in the group chat. Jay texted us to say that Dogecoin had sponsored a NASCAR driver. I noticed Elon Musk was talking about it too. As the price climbed
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first text, I pulled up Drudge Report to see a smiling Shiba Inu splashed across the news aggregator’s front page: “Reddit Frenzy Pumps Up Dogecoin! Now Worth Billions!” Jay eventually sold out and made several thousand dollars. Then he taunted me by sending selfies from a trip to Walt Disney
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World, financed with his trading profits. “If you listened to me when I first told you to throw $10 on Dogecoin, you’d all be $500 richer right now,” Jay wrote. “I am freaking Nostradamus!” Jay wouldn’t admit he’d gotten lucky. He acted like
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his Dogecoin score proved his astute understanding of crowd psychology. Even after he moved on, I didn’t. I started seeing crypto bros everywhere. They were acting
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was revealed to be a fraud, I figured the entire bubble might pop, and the prices of all the coins would crash. That would include Dogecoin. Even “Nostradamus” would have to admit I was right. So I set out to look for Tether’s money. It was hard to believe that
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in a spreadsheet. There is nothing else. Without the spreadsheet, the Bitcoins don’t exist. If we were talking about the Dogecoin blockchain, the numbers in Column B would represent Dogecoins. Tethers are just numbers in a spreadsheet like this too. (Technically, a blockchain is a list of all transactions ever made
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, or even have any inherent tie to the financial system at all. There’s no reason why a Bitcoin should be worth more than a Dogecoin or any other number in any other database. Why would someone burn massive amounts of coal just to get a higher number written in the
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sent gamblers to one central cashier to buy chips. The biggest traders made their money by facilitating countless smaller bets, like Jay’s envy-inducing Dogecoin win. They needed to move big sums of money from exchange to exchange, and they did it with Tether. They said they routinely bought and
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thirty-seven, just a few months older than me. I was jealous. Anderson didn’t tease me with selfies like my friend Jay after his Dogecoin score. He didn’t need to. I saw glamour shots of him in The New York Times and The Wall Street Journal. At first I
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like it was right. You didn’t have to take $10 million just because someone offered it, just like you didn’t have to buy Dogecoin if you thought it was dumb. Spite won out over greed. I told Anderson that some things are more important than money. “This book is
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revenue. FTX, like its competitors, was simply a place where people could go to bet on the prices of cryptocurrencies. Each time someone bought a Dogecoin or sold a Cardano token on FTX’s website, Bankman-Fried collected a tiny cut. Bankman-Fried proudly showed me that the year before, those
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up on his desk and his shorts stained with soy sauce from lunch. During Bankman-Fried’s catnap, traders swapped about $500 million of Bitcoin, Dogecoin, Tether, and other cryptocurrencies on his exchange, and FTX skimmed off $100,000 in fees. After about an hour, Bankman-Fried stirred, ate a package
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ApeCoin. “If you’ve got some ApeCoins make some motherfucking noise,” Snoop yelled. “ApeCo-oi-oin,” the chorus went. “I ain’t tripping on that Dogecoin shit.” I later learned from a legal document that Snoop allegedly owned a stake in Yuga Labs. I was almost relieved to find out he
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, he liked to show off photos of the 171-foot superyacht he had ordered. It was to be named Much Wow, an inside joke about Dogecoin. I’d seen Zhu at Bankman-Fried’s Crypto Bahamas conference in April. Our experiences at the conference were a bit different. I’d flown
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happened to have been the star of the 2023 edition of The Bachelor) was also playing around with trading small amounts of Bitcoin, Ether, and Dogecoin, and they liked talking about new coins together. “We just bonded over trying to figure out what crypto is and how the blockchain works,” Zach
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crypto trading, I even told her about my friend Jay. “Some of my friends made a lot of money on crypto,” I wrote. “One bought Dogecoin and made enough to take his whole family to Disneyworld.” But for an entire week, she stuck to chitchat, brushing off my attempts to redirect
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strategy from the classic market-manipulation memoir, Reminiscences of a Stock Operator. Her co-CEO said in another tweet that a profitable strategy was buying Dogecoin because Elon Musk tweeted about it. I couldn’t believe it. This was more or less the trading tactic my friend Jay had recommended I
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the world of finance. People paid millions of perfectly good dollars to add lines to crypto spreadsheets, to record that they owned a stash of Dogecoins, or a rare Bored Ape. By manipulating sheets like these, Sam Bankman-Fried had made himself into one of the world’s richest men. On
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Crypto Fortune Began with a Friendly Poker Game,” Bloomberg, January 9, 2022. GO TO NOTE REFERENCE IN TEXT Chapter One: “I Am Freaking Nostradamus!” even Dogecoin’s creator: Jackson Palmer, “My Joke Cryptocurrency Hit $2 Billion and Something Is Very Wrong,” Vice, January 11, 2018. GO TO NOTE REFERENCE IN TEXT
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I pulled up Drudge Report: “Reddit Frenzy Pumps Up Dogecoin! Now Worth Billions!,” Drudge Report, January 30, 2021. GO TO NOTE REFERENCE IN TEXT Janet Yellen: Robert Schmidt and Jesse Hamilton, “Tether, Facebook Coin Spur
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. GO TO NOTE REFERENCE IN TEXT “The way to really make money”: Caroline Ellison, Twitter, March 7, 2021. GO TO NOTE REFERENCE IN TEXT buying Dogecoin because Elon Musk: Sam Trabucco, Twitter, April 22, 2021. GO TO NOTE REFERENCE IN TEXT and called for regulation: Yueqi Yang, “FTX Chief Reminds Congress
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non-fungible tokens (NFTs) Digital Assets and Registered Exchanges Bill (Bahamas, 2020), 77 Digital Entertainment Network (DEN), 32–33 “digital gold,” 21 Dimon, Jamie, 237 Dogecoin, 5, 10 Dong, Zhao, 170 Dorsey, Jack, 16, 144 “double-spending problem,” 18 Dr. Bombay, 157–158 Dr. Scum, 150, 158, 159 “the Drowning Child
Attack of the 50 Foot Blockchain: Bitcoin, Blockchain, Ethereum & Smart Contracts
by David Gerard · 23 Jul 2017 · 309pp · 54,839 words
How to get bitcoins From the first bubble to the second Bitfinex: the hack, the bank block and the second bubble Chapter 9: Altcoins Litecoin Dogecoin Ethereum Buterin’s quantum quest ICOs: magic beans and bubble machines Chapter 10: Smart contracts, stupid humans Dr. Strangelove, but on the blockchain So who
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$4 until it hit $30 in the second bubble – altcoin prices tend to track Bitcoin’s price – and the small current volume is Chinese speculators. Dogecoin Dogecoin (pronounced “dozhe-coin” or “dogue-coin”) started in December 2013, originally as a joke based on the “Doge” Shiba Inu Internet meme.288 The idea
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was mostly to have some fun with cryptocurrency cheap enough to mess around with; and who knows, maybe we’ll all get rich! Dogecoiners (“shibes”), gathering on Reddit /r/dogecoin, still dreamt of a cryptocurrency payday – but they made an explicit point of being nicer as a community than Bitcoin advocates, who
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had quite a reputation by this stage. Dogecoin got caught up in the hype of the Bitcoin bubble and quickly gained in price, peaking in January 2014 at 0.17 of a cent
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used it to tip other Reddit commenters) and not being exchangeable for anything but bitcoins. The Dogecoin Foundation, started by Ben Doernberg and the coin’s creator Jackson Palmer, raised nearly $30,000 of Dogecoins in January to send the Jamaican bobsled team to the 2014 Winter Olympics. Doge4Water raised $32,000
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Green. I have zero online footprint.” He quickly set up UK cryptocurrency exchange Moolah. While others tipped single Dogecoins, worth a fraction of a penny, Green caught attention with tips of thousands of dollars. Dogecoin then raised $50,000 to sponsor a NASCAR racer, Josh Wise. (Green put in $15,000 himself
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.) Wise’s race in May 2014 was probably the media peak for Dogecoin. Green started fundraisers on /r/dogecoin for shares in Moolah, and never mind those fiddly regulations about promoting securities to the general public. By mid-June, he had raised
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over half a million dollars. He had also pushed most of the original Dogecoin crowd into leaving, repeatedly threatening to sue Palmer and Doernberg for harassment for questioning his use of /r/dogecoin to push unregistered securities. Palmer and Doernberg correctly smelt a rat. It came out that “Green
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for 11 years. He was also charged over the stolen Mintpal bitcoins in June 2017.292 With Green/Kennedy no longer in the picture, /r/dogecoin recovered its spirit somewhat, refused to worry about prices any more and is back to just having fun, though with wistful dreams of crypto riches
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. Unlike other cryptocurrencies’ claims about their prices, Dogecoin may succeed in going “to the moon!” – the community sponsored sending a physical Dogecoin on an Astrobotic commercial moon shot.293 It came out in May 2017 that the operator of the
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Dogecoin tipping bot on Reddit had stolen all the deposited Dogecoins two years earlier.294 Much sorry, many loss. Ethereum Ethereum was proposed by Vitalik Buterin (an early Bitcoiner and a co-founder of Bitcoin
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in east London with his spouse Arkady and their daughter. Until he reinstalled the laptop they were on, he was the proud owner of six Dogecoins. Index 8chan 53 A company for carrying on an undertaking of great advantage, but nobody to know what it is 100 Accenture 122 address 12
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Catapult 125, 134 Digital Rights Management 127, 135 Digix 98 distributed ledger technology 111, 131 Distributed Ledger Technology: beyond block chain 123 Doernberg, Ben 93 Dogecoin 92 Dogecoin Foundation 93 dot.blockchain 135 Dr. Strangelove 101 Dread Pirate Roberts 49 DRM 123, 124, 127, 135, 136 e-Gold 18, 62, 72 Early
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) 31 Rebit.ph 29 Recording Industry Association of America 45 Recovery Right Token 86 Reddit /r/bitcoin 38, 69, 75, 76 /r/buttcoin 143 /r/dogecoin 93 Bitfinex discussion 87 remittances 28 Revelator 135 Ripple 48 Rodrigue, Jean-Paul 36 Rogers, Benji 135 Ron, Dorit 30 Rothbard, Murray 24, 49 RRT
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trojan – pool operators/exchanges beware”. Bitcointalk.org Bitcoin Forum > Alternate cryptocurrencies > Altcoin Discussion, 22 April 2014. (archive) [288] Wikipedia: Doge (meme). [289] Clay Michael Gillespie. “Dogecoin Leaders Present Evidence that CEO of Troubled Bitcoin Exchange Moolah Is Long-Time Scammer”. CryptoCoinsNews, 16 October 2014. (archive) [290] Duncan Riley. “Mintpal scammer Ryan
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. [293] Joseph Frusetta (sporadicallyjoe). “DogecoinOnTheMoon: We’re going to reach the lunar surface next year!” Reddit /r/dogecoin, 3 August 2016. [294] Mohland. “[Important] I’m taking dogetipbot to a server farm upstate”. Reddit /r/dogecoin, 8 May 2017. (archive) [295] Vitalik Buterin. “Dagger-Hashimoto”. [296] “Ethash Design Rationale”. Ethereum Wiki, 21
Four Futures: Life After Capitalism
by Peter Frase · 10 Mar 2015 · 121pp · 36,908 words
what’s happening. For the purposes of this chapter, however, the most interesting cryptocurrency is the one that is generally regarded as a silly joke: Dogecoin. In its rise and fall we can see a promising mechanism that may have been introduced prematurely into a society that was not ready for
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it. Dogecoin takes its name from a viral Internet meme featuring a picture of a Shiba Inu dog surrounded by enthusiastic, ungrammatical exclamations. By the time of
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publication, readers of this book may not even remember it. And the same may be true of Dogecoin, which was launched at the peak of both Bitcoin and Doge’s popularity in late 2013. Yet the community that arose around it tells us
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something important about the real significance of the entire class of alternative moneys. Measured in terms of its value in US dollars, Dogecoin never threatened Bitcoin. But that was never relevant for the currency’s core use. Within a few months of its inception, there were more daily
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unique transactions in Doges than Satoshis (as Bitcoins were sometimes called in homage to their mysterious inventor).29 And that’s because Dogecoin satisfied a need for a different kind of currency, far removed from the traditional capitalist sort and in fact more similar to Whuffie. Technically
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Bitcoin are nearly identical, but that’s a misleading picture of Dogecoin’s significance. The sociology of Dogecoin’s community is very different, as is the problem to which Dogecoin provides a solution. To understand Dogecoin, you have to understand what people mostly do with the currency. While people do sometimes buy valuable goods
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with it, the most common use is “tipping”: the practice of transferring a small number of Dogecoins to another Internet user in appreciation of their witty or helpful contribution. This is encouraged by the fact that a single
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Dogecoin was only worth a tiny fraction of a cent in US currency. Tipping in Dogecoins became particularly common on Reddit and Twitter, which developed easy-to-use platforms for executing these transfers. In
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this, the Dogecoin tip extends the practice of upvoting on Reddit or retweeting on Twitter—except that it converts those practices into a common currency, a form of
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status that’s portable from site to site. Rather than attempting to replicate traditional currencies, Dogecoin is a way of bridging reputational karma across many separate domains. During the initial flurry of interest, much of the media attention viewed
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Dogecoin through the prism of Bitcoin. There was an emphasis on its role as a speculative asset and a store of offline monetary value and much
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be able to hold its exchange value in terms of traditional currency. And ultimately, that may be the death of it. At this writing, the Dogecoin community is in crisis, largely because of the hegemonic influence of a single large investor attempting to turn it into a Bitcoin-like speculative vehicle
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that can be cashed in for traditional money.30 All in all, the lesson of Dogecoin, and of the world of Internet cultures and hierarchies that it represents, is a lesson about the complexity of any utopia. Taking away money and
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System: How Wikipedia’s Reaction to Sudden Popularity Is Causing Its Decline,” American Behavioral Scientist 57: 5, May 2013, p. 683. 29Tom McKay, “Bitcoin vs. Dogecoin: Which One Is Really Worth More?” Mic.com, January 14, 2014. 30Kevin Collier, “Meet Moolah, the Company That Has
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Dogecoin by the Collar,” DailyDot.com, July 7, 2014. 31Cory Doctorow, “Wealth Inequality Is Even Worse in Reputation Economies,” LocusMag.com, March 3, 2016. 2. Rentism:
Personal Finance with Python
by Max Humber · 156pp · 15,746 words
would have to at least give Bitcoin and cryptocurrencies at least a little bit of lip service. For the uninitiated, cryptocurrencies like Bitcoin (and Ethereum, Dogecoin, and Zcash) are digital assets that are designed to function as a medium of exchange and that use cryptography to secure transactions, to control the
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think it’s hilarious, I’m going to use Dogecoin1 as the glue for the rest of this chapter. But honestly, these ideas extend beyond Dogecoin (and crypto for that matter). They apply whenever you have to spend money to make money. So, if you’re not a fan of crypto
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or Dogecoin (I certainly don’t blame you), bear with me. Dogecoin just seemed like a lot more fun to talk about than something else random, like a lemonade stand. Mining If you
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’re interested in Dogecoin and want to own some, you can do one of the following:Buy it Generate it through a
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process called mining Buying Dogecoin is straightforward. But mining is more interesting. To grossly oversimplify things, to mining
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Dogecoin requires the installation of a program, on your computer that uses your hardware to solve computationally expensive math
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problems. Solve a problem. Get a Dogecoin. Easy-peasy. While you can run mining applications on your laptop, those serious about
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mining—for Dogecoin or otherwise—opt to run these sorts of applications on specialized rigs. A decent rig can be
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’re in for $3,000. But instead of doubling our money, let’s bring things ever so slightly back to Earth and pretend that our Dogecoin rig generates $1,000 in passive income each year over the next four years. date income expenses 0 2017-01-01 0 -3000 1 2018
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) 0.13812581670383556 To the moon! Conclusion Before we close out this chapter, I should lay down a couple of things. Please don’t invest in Dogecoin (or crypto or mining) because of me or because of this chapter. The space is crazy, and if I’m honest, you’re probably going
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huge. My hope is that the need for Python will become self-evident in the chapters to follow. Footnotes 1 https://en.wikipedia.org/wiki/Dogecoin 2 https://gph.is/1VRbuEc 3 https://www.quora.com/Computer-Science-Where-did-the-phrase-Roll-your-own-come-from-and-why-is-it
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includes access points for alternative cryptocurrencies. This means that it’s totally legit to instantiate a new CurrencyConverter with ETH (Ethereum), BTC (Bitcoin), and DOGE (Dogecoin) on top of CAD and USD. c = CurrencyConverter(['CAD', 'USD', 'DOGE', 'ETH', 'BTC'], API_KEY) With all the currencies stored inside of a dictionary attached
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(I couldn’t get the rights for the original meme, so please accept this do-it-yourself bargain image), we can convert our Dogecoin mining income back to Dogecoin from CAD. df['total'].apply(lambda x: c.convert(x, 'CAD', 'DOGE')) 0 -658723.64 1 -2225.42 2 6676.25 3 15577
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something that will propel you forward and will help you pay it back, debt can super powerful. A couple of chapters ago we talked about Dogecoin mining. Implicit in the example was the concept of spending money to make money. The chapter assumed that a decent mining rig would set us
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,341 USD). Most people don’t have that kind of money sitting liquid. If you have only a couple hundred dollars to your name, the Dogecoin game is out of the question, unless, of course, you decide to go into debt. (If you’re sick of
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Dogecoin at this point, pretend that you need $3,000 for a new laptop!) Quick disclaimer: debt is a super-complex subject. To narrow the focus
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of total interest that you will pay on a personal loan, banks often obfuscate the details. Let’s say we need $3,000 for our Dogecoin rig. We shop around and come back with three viable options from Pineapple Imperial Bank, Orange National Bank, and Banana Dominion Bank. Our decision will
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, converting Computer programming D, E, F, G, H Data Dates date formatting rules datetime.date objects datetime.datetime objects get_dates function Python DatetimeIndex object Dogecoin IRR =IRR() irregular cash flow schedule mining pandas read_excel function xirr function xnpv function ROI I Internal rate of return (IRR) Investment portfolio deposit
On the Edge: The Art of Risking Everything
by Nate Silver · 12 Aug 2024 · 848pp · 227,015 words
kind of funny—an “OK boomer” meme brought to life. The next level of ridiculousness beyond GameStop was Dogecoin—a cryptocurrency that was deliberately created to be silly. Billy Markus, the cofounder of Dogecoin, told me he was trying to gently poke fun at crypto at a time when “the primary utility
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on Silk Road or gamble illegally on the internet.” Markus said that it would have taken him only ten minutes to complete the programming for Dogecoin—but he spent a couple hours to customize the images (“doge” is a deliberate misspelling of “dog,” sometimes associated with pictures of a cute Japanese
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dog named Kabosu) and fonts (Comic Sans). And yet, Dogecoin went viral, gaining acclaim with r/wallstreetbets traders and Elon Musk. Valued at $0.00026 shortly after its creation in 2013, it eventually reached a
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the world. It’s not supposed to happen to shitcoins[*6] featuring a cartoon doge. Markus, whose day job is making educational software, sold his Dogecoins and the rest of his crypto for about $10,000 after losing his job in 2015. He told me he couldn’t be too upset
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about it, because if he hadn’t done it sooner, he would have sold later. It was impossible to time the market for Dogecoin when the underlying valuation was so detached from reality in the first place. “If you’re in cryptocurrency for a long enough time, and you
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playing solid, tight, predictable poker. In crypto, there were a lot of suckers too. I asked Matt Levine whether he thinks there will be more Dogecoin and GameStop–like bubbles in the future. “My gut is yes, that there’ll be more of this,” he said. “The thing that happened more
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, he was suggesting that Bitcoin—like a religion—depends deeply on the idea of belief. Fundamentally, Bitcoin isn’t that different from a shitcoin like Dogecoin; neither of them have any of the value-added functionality of Ethereum. But far more people believe in Bitcoin than believe in
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Dogecoin and are willing to trade it or accept it as payment. “The epistemic part of the religion is basically a self-fulfilling prophecy, right?” said
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to be the gold standard. If I want to transact in NateCoin, you want to transact in Bitcoin, and our mutual friend will only accept Dogecoin, none of us are getting any business done and we all lose the game.[*14] Focal points also help to explain the art world—they
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-blockbuster-video-221243155.html. GO TO NOTE REFERENCE IN TEXT shortly after its creation: Andrew Couts, “Dogecoin Fetches 300 Percent Jump in Value in 24 Hours,” Digital Trends, December 19, 2013, digitaltrends.com/cool-tech/dogecoin-price-value-jump-bitcoin. GO TO NOTE REFERENCE IN TEXT of cryptocurrency users: “Crypto Users Worldwide
The Quiet Coup: Neoliberalism and the Looting of America
by Mehrsa Baradaran · 7 May 2024 · 470pp · 158,007 words
an endorsement of the encrypted messaging app Signal (“Use Signal”), an entirely unrelated publicly traded stock, Signal Advance, Inc., rose by over 5,000 percent. Dogecoin, created in 2013 as the first combination of a meme and a cryptocurrency, had a value of next to nothing for much of its existence
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—until May 2021, when Musk tweeted that he was considering accepting Dogecoin for Tesla purchases. Dogecoin subsequently rose to a market cap of $70 billion. Most Americans cannot own Tesla stock—or enough of it to make a real
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“a passionate community.” Such is the case for thirty-year-old Glauber Contessoto, a high school graduate who poured his life savings—$188,000—into Dogecoin and became a multimillionaire after Musk’s tweet. Even as he lost his millions in the subsequent months as the value of
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Dogecoin plummeted, Contessoto not only refused to sell but purchased more, posting a screenshot of his cryptocurrency trading app to Reddit and stating, “If I can
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he regretted not taking out some when he had the chance, he wrote that “the big thing was being a part of the Dogecoin community. The whole goal for Dogecoin has always been mass adoption; to be, eventually, legal tender.… For us to get there, we have to all believe in the
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of the meme-stock investors’ prime targets). It was hedge funds all the way down. A year after the WSB revolt fizzled, Mat Bowen, a Dogecoin, AMC, and GameStop trader with a divinity degree from Princeton University, told The New York Times that he was willing to “ride these stocks to
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, too, are antibodies attacking the diseased system with misfires along the way. The fact that so many young people took all their chips and bought Dogecoin meme stocks, NFTs, and other abstract signals of group identity is a signal of their willingness to try something new. What these experiments in the
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–47, 203. See also Washington, D.C. District of Columbia v. Heller, 146–47, 151 Dixiecrats, 7 Dobbs v. Jackson Women’s Health Organization, 155 Dogecoin, 328, 331, 332, 340 dollar, U.S., 61, 62, 66, 335 dollar shocks, 293 dominium, 52–53 Donor Trust, 307 DoorDash, 325 Douglass, Frederick, 46
The Future of Money: How the Digital Revolution Is Transforming Currencies and Finance
by Eswar S. Prasad · 27 Sep 2021 · 661pp · 185,701 words
on the popular “Doge” internet meme and featuring a Shiba Inu (a Japanese breed of dog) as its mascot, Dogecoin (DOGE) is a cryptocurrency that was forked from Litecoin in December 2013. Dogecoin has been used primarily as a tipping system on Reddit and Twitter to reward the creation or sharing of
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had envisioned it as “a fun, light-hearted cryptocurrency that would have greater appeal beyond the core Bitcoin audience.” From its inception until April 2017, Dogecoin’s market capitalization was under $30 million, already a sizable figure for a whimsical cryptocurrency. Then the price took off, and the market capitalization peaked
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was not it, however. A series of supportive tweets from Elon Musk, who referred to it approvingly as “the people’s crypto,” then helped push Dogecoin’s market capitalization briefly above $90 billion in early May 2021! Struck by the absurdity of such meme coins, in August 2020 a programmer named
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_data/usd?end_date=2021-01-02&start_date=2016-01-01#panel. See https://dogecoin.com/ for more information on the provenance of Dogecoin and to sign up. Price and market capitalization figures for Dogecoin are from https://coinmarketcap.com/currencies/dogecoin/. See Ryan Browne, “Tweets from Elon Musk and Other Celebrities Send
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Dogecoin to a Record High,” CNBC, February 8, 2021, https://www.cnbc.com/2021/02/08/tweets
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-from-elon-musk-and-celebrities-send-dogecoin-to-a-record-high.html. The story about how Meme coin came to be and Lyall’s quote on the matter can be found in
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