Dogecoin is a virtual currency that was born during the year 2013 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. And in the course of the year 2013 when the BTC exceeded the roof of the $1000 the creators of memes could not pass the opportunity to joke with reference to the recent achievement.
Its structure is very similar to the bitcoin, although there is a fundamental difference: the speed of confirmation of the transactions. 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. Wao! How fast.
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 100 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, 2013, marketing professional Jackson Palmer published a tweet that would be "investing in Dogecoin."
Following the launch of the official website, a series of social networking channels and referential web pages for Dogecoin soon emerged, including a Twitter account and Facebook, accumulating more than 36.000 followers and 13.000 I like within Dogecoin. The first two months respectively. On December 8th, a subreddit community was launched dedicated to the use of the satirical Cryptocoin en/R/Dogecoin.
By December 14th, an encyclopedic article describing the concept of "Dogecoin" had been presented by the Wikipedia editor CitationNeeded. On December 17th, YouTube's DogeCoin channel uploaded a video titled "You Can be a millionaire of DogeCoin!".
On December 19, Dogecoin increased from $0.00026 to $2 in value, becoming the seventh largest altcoin. Three days later, the coin crashed to $0.0003 after being heavily mined.
On December 25, 2013, the founders of the Dogecoin Dogewallet storage System temporarily closed the service and issued a statement confirming that a hacker had accessed his file system and modified his pages to redirect the Transfer of coins to a static account, resulting in losses of 30 million of Dogecoins, or up to $12.000 in the Cryptocoin at the time of the incident. In addition, DOGEWALLET administrators announced that they will begin to reimburse immediately all users affected by the trick. As a result of piracy, Dogecoin became the most mentioned altcoin on Twitter.
On January 14, 2014, 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 2014, the Dogecoin Foundation organized an open presentation contest for people to create a promotional video for the Cryptocoin. The Grand Prix was for Redditor Zimonitrome, the promotional music video inspired by Chiptune "Ð is for Ðogecoin".
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, 2014, a Indiegogo page was created by members of the Jamaican Bobsled team to finance their trip to the Sochi 2014 Winter Olympics. On the same day, the Dogecoin Foundation launched a fundraiser for the bobsled team, which raised $35.000 in donations in the first 24 hours. During this time, the rate of change from Dogecoin to Bitcoin increased by 50%.
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.
The next day, the subreddit/R/Dogecoin of Reddit and the Dogecoin Foundation launched a Sochi fundraiser for the Indian skiers Himanshu Thakur and Nadeem Iqbal, raising more than $6.000 in just three hours, including a donor who contributed three million Dogecoin. Approximately $4.500 at the time of donation.
In March 2014, 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.
On March 17, 2014, Redditor Unicorn_butt_sex sent a publication requesting the sponsorship of Dogecoin from NASCAR driver Josh Wise Al subreddit/R/Dogecoin. 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.
On March 19, Redditor launched a painting contest for the racing car sponsored by Josh Wise en/R/NASCAR Dogecoin, the entry of Redditor NukaColaV13 emerged as the most voted.
On March 25, Redditor One Good Shibe announced at/R/Dogecoin that the community had raised 67.8 million of Dogecoins (approximately $55.000) for the NASCAR fundraiser and that Wise would compete with a stock car Doge at Aaron 499 in Talladega, Alabama on 4 of May.
Dogetipbot was released by Redditor Josh Mohland in 2014 as a way to tip other Redditors with Dogecoin.
On May 8, 2017, 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 15.
On January 5, 2018, Dogecoin's market capitalization amounted to more than $1 billion according to CoinMarketCap
On that day, Cryptocoin Coindesk's news blog published an interview with Dogecoin's founder, Jackson Palmer, who left the team in April 2015. In the interview, Palmer expressed concern that Dogecoin's success could be a disturbing sign for the market:
"The fact that most of the conversations that happen in the media and between peers focus on the investment potential is worrisome, because it diverts the attention of the underlying technology and the objectives on which this movement was based. I have a lot of faith in the development team of Dogecoin Core to keep the software stable and secure, but I think it says a lot about the state of Cryptocoin space in general that a coin with a dog that has not released a software update in more than 2 years Tien e a market limit of $1b".
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.
