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-   -   Wow such amaze: You've heard of the bit coin, now meet the doge coin. (https://www.thisisbigbrother.com/forums/showthread.php?t=242495)

T* 19-12-2013 11:31 PM

Wow such amaze: You've heard of the bit coin, now meet the doge coin.
 
Quote:

About three weeks ago, Jackson Palmer, who by day works in Adobe’s Sydney marketing department, and who’d been following developments in the cryptocurrency world, absentmindedly Tweeted, “Investing in Dogecoin, pretty sure it’s the next big thing.”

He got some replies encouraging him to pursue the idea, and a week later bought the domain Dogecoin.com. Inevitably, it got picked up on reddit, a hotbed of doge activity.

Meanwhile in Portland, Billy Markus had been trying to program his own digital currency that would appeal to a broader demographic than the profiteers who’ve flooded into Bitcoin. But the project had gone nowhere. Then he stumbled across Dogecoin.com within a day or two of the site going live.

“The first thing I said was, This is so funny. Then I said, I should just make this coin.”

He Tweeted at Palmer saying he wanted to go in on it, and before Palmer even responded, started reconfiguring Bitcoin’s sourcecode, which is publicly available, to turn its user-facing elements into the doge meme.

Eventually Palmer wrote back, and the partnership was formed. A little more than a week after Palmer’s jokey Tweet, Dogecoin was launched.

Again it got picked up on reddit, and instantly exploded. It is already the 13th
7th-largest cryptocurrency, according to Coinmarketcap, with a market value (i.e. number of extant Dogecoins X price of $US0.00086) of $US8 million. It now enjoys its own full blown ecosystem: in addition to the website, it has a dedicated blog and forum, and of course a subreddit.

How has it done this?

Largely through something called “tipping.”

If you’re a geek who “performs” a “good deed” on the Internet, it’s become common practice for peopleto “tip” you in your digital currency of choice. For instance: that kid who held up up his Bitcoin wallet’s QR-code during ESPN’s College Gameday got tipped thousands of dollars by the Bitcoin community for such a brilliant stroke of guerrilla marketing.

But it’s become somewhat expensive to tip in Bitcoin, so people have turned to Dogecoin. Only about a week after launching, Dogecoin became the second-most-tipped currency, the pair say. They’re hoping Facebook will accept a widget they’ve been working on that would allow friends to “tip” each other with dogecoin.

Still, what’s so great about Dogecoin?

Technically speaking, it’s more of a variation on Litecoin, which runs on a programming language called Scrypt. Like Litecoin, the time it takes to process a Dogecoin transaction takes is much shorter than for Bitcoin. There are also many more Dogecoins that will come into existence — 100 billion versus 21 million.

But it’s the culture that’s sprung up around it that’s really driving it forward. Palmer says it comes down to having a lower barrier of entry for people who might be interested in cryptocurrencies but are turned off by either the price of or so-far dubious culture that surrounds Bitcoin.

“It’s not taking itself as seriously, it’s not being used by people worrying about whether they’ll become rich,” Palmer said. “It’s something to share for thanks or kudos.”

Markus says his wife, who at first was turned off by his interest in Bitcoin, has started mining Dogecoin herself — something you can do with your basic computer, unlike mining Bitcoin, which now requires industrial-strength processors.

The pair say they have no intention of competing with Bitcoin, and both are still fervent believers in its potential to change online banking.

“It’s a revolutionary technology, absolutely revolutionary,” Markus says. “And it works as a store of value because it’s deflationary, there will be a cap [on Bitcoins created]. It’s just highly speculative, which makes it hard to use, to spend and spread it.”

How can you tell the Dogecoin phenomenon is not a joke? This morning, Bitcoin and most other altcoins are up about 20%.

Dogecoin? Up 250% and counting.

Wow.

Source: http://www.businessinsider.com.au/wh...gecoin-2013-12

WOW SUCH AMAZE

No but really this is so cool.

http://static.tumblr.com/ppdj5y9/Ae9mxmxtp/300coin.png

Me. I Am Salman 19-12-2013 11:40 PM

DOGE IS NOT FUNNY omg
this is a dark day

T* 19-12-2013 11:43 PM

Quote:

Originally Posted by Salman! (Post 6556659)
DOGE IS NOT FUNNY omg
this is a dark day

HOW DARE YOU .

Nemo123 19-12-2013 11:44 PM

Bitcoin only started up about 2 years ago and its price has gone from I think $11 to$ $1000 in November. So an investment of $110 would have net you $10,000.

Black Dagger 19-12-2013 11:46 PM

Doge is ****e. terrible meme.

Me. I Am Salman 19-12-2013 11:52 PM

Quote:

Originally Posted by Cudolph (Post 6556665)
HOW DARE YOU .

It's really not though :(

Scarlett. 19-12-2013 11:56 PM

http://hugelolcdn.com/i/187287.gif

Me. I Am Salman 19-12-2013 11:59 PM

reddit needs to be taken off the Internet it's just a really bad unfunny version of Tumblr

Scarlett. 20-12-2013 12:06 AM

Quote:

Originally Posted by Salman! (Post 6556683)
reddit needs to be taken off the Internet it's just a really bad unfunny version of Tumblr

Some parts of reddit (AdviceAnimals/fuuuuuuuuuu/atheism) yes, but **** like http://www.reddit.com/r/gallifrey (and similar subreddits for TV shows/games) is really useful stuff, much more useful than anything you'd find on tumblr, not to mention askreddit stuff which always has long in depth awnsers and stories. Tumblr is good for gifs and fan art, not that I'm slagging it off, tumblr is a decent website too.

Jesus. 20-12-2013 08:21 AM

Salman is right about this. It was only mildly amusing for about 2 minutes, and that was before it moved on to TIBB.

fingers 20-12-2013 08:27 AM

The Doge was the ruler of the Venetian State, but this Doge sounds Dodgy!

Z 20-12-2013 01:33 PM

I don't understand bitcoin and all these other currencies, I don't get how it works?

Jake. 20-12-2013 01:37 PM

Can honestly say I've never found this Doge thing funny

HD 20-12-2013 01:53 PM

It was funny for 5 seconds.

Z 20-12-2013 02:01 PM

Quote:

Originally Posted by The Snowdog (Post 6557135)
It was funny for 5 seconds.

I think I maybe smiled at the meme once to be polite when my friend was showing me heaps of doge pictures because she thought it was hilarious.

Apple202 03-01-2014 05:41 PM

i find the misspelt words in blunt phrases kinda funny but idg the dog (even tho hes cute)


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