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Dogecoin: The world's most valuable joke
Dogecoin Started as a Joke. Nobody’s Laughing Now.
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: 1oz Gold Dogecoin Commemorative Coin Gold Plated Doge Coin Limited Edition Collectible Coin with Protective Case: Toys & Games.
: Dogecoin Commemorative Coin Gold Plated Doge Coin Limited Edition Collectible Coin with Protective Case (Gold): Toys & Games.
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A golden coin bearing the Dogecoin logo, along with other golden coins with the bitcoin. Dogecoin can potentially have an infinite supply.
Network: mainnet (Also available on xdai ). Owner Address: 0x4bD Artist: cryptodesign | View all 10 Kudos by @cryptodesign.
It's Hard to Take Dogecoin Seriously, But the Doge Doesn't Care. The cryptocurrency that Photo: Panther Media.
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Dogecoin is stealing the crypto show this week with a massive 90 per cent rise in the last 24 hours alone.
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Dogecoin price plunged 30% as Tes;la and SpaceX CEO Elon Musk idea, declaring, "Money is a golden rock that we dig out of the ground!".
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You can find more information in our data protection declaration. Based on a meme, it has ironically shown itself to be rather sensitive to jokes, as revealed in a recent Elon Musk gag. The cryptocurrency, which itself began as a social media joke eight years ago, lost more than a third of its price after Elon Musk, one of the world's richest men and Dogecoin's most prominent supporter , called the digital currency a "hustle" during his appearance on the Saturday Night Live comedy sketch TV show this past weekend. The sharp fall was an anticlimax to a weekslong buildup by Dogecoin enthusiasts in the run-up to Musk's appearance as a guest host on the popular show. Dogecoin's price had climbed to a record high before the show aired, as fans organized watch parties in anticipation of a major boost for the cryptocurrency following Musk's appearance. It's a question of who will sell first and who will be left holding the bags. While Bitcoin, the most valued cryptocurrency by some distance, has hogged much of the limelight and seen record rallies, it's the so-called altcoins such as Ethereum and Dogecoin that have taken charge in recent days. There is no easy explanation behind the rising prices of Dogecoin, which was created as a joke riffing on the 2013 cryptocurrency frenzy with the Shiba Inu dog breed as its logo. The retail trading community seemed convinced Dogecoin was going to 1 dollar and for many, fundamentals did not matter," Edward Moya, senior market analyst at Oanda, told DW. In a major boost to Dogecoin's stardom, Musk's commercial rocket firm SpaceX has accepted payment for a lunar satellite mission in the cryptocurrency. Well, that's been one of the most searched questions related to cryptocurrencies on Google over the past few months. Dogecoin and Bitcoin are two very different beasts, even if the former is based on the same software code that underpins Bitcoin. Dogecoin can potentially have an infinite supply, which means those looking to remain invested in the coin for a longer duration stand to see the value of their investment diminish over time. Bitcoin, on the other hand, has a fixed supply of 21 million units, which makes it scarce and in return more valuable — much like gold and diamonds, which are also in limited supply. While Dogecoin was designed to be a cryptocurrency for "sillies," Bitcoin was always designed to be a decentralized digital currency, an alternative to central bank-controlled fiat money. Many die-hard fans of digital currencies see Dogecoin and the speculative fervor around it as undermining their larger goal of taking cryptocurrencies like Bitcoin and Ethereum mainstream. They say the memecoin is just a speculative asset, with few institutional investors backing it. It was created to have some fun and also illustrate how cryptocurrencies work," Jeff Gallas, the founder of the German Bitcoin Foundation, told DW. It depends on who you ask. Dogecoin fans swear by it, touting it as a cryptocurrency of the future with Musk anointing it the "people's crypto. It's also easier to mine — the process of creating new bitcoin through complex math problems — which means transactions with Dogecoin can be processed faster than with Bitcoin. Others see Dogecoin as a highly speculative and risky investment, much more than Bitcoin or Ethereum. Despite Musk's support for the currency, none of his companies have publicly invested in Dogecoin as yet , unlike Bitcoin. Even Musk has urged people to "invest with caution" and said it was unwise to invest one's life savings in cryptocurrencies, which should be considered speculative for now. Running the cryptocurrency Bitcoin requires more energy than New Zealand and Belgium put together. How can something virtual keep power plants around the world so busy? DW's Timothy Rooks looks into the numbers. Bitcoin's latest volatility has both skeptics and fans claiming their predictions are finally coming true. DW takes a look into the past to see what the future might hold for the digital coin. The most prominent of cryptocurrencies, Bitcoin has seen wild swings in value lately, making retail investors wonder if its worth wagering their money on it. More info OK. Wrong language? Change it here DW. COM has chosen English as your language setting. COM in 30 languages. Deutsche Welle. Audiotrainer Deutschtrainer Die Bienenretter. Dogecoin can potentially have an infinite supply, unlike Bitcoin. Share What is a cryptocurrency? What is a cryptocurrency? Share Are cryptocurrencies worth the ride? Are cryptocurrencies worth the ride? Why does Bitcoin need more energy than whole countries? Bitcoin: What history reveals about its future Bitcoin's latest volatility has both skeptics and fans claiming their predictions are finally coming true. Bitcoin explained: How it works and what it is good for The most prominent of cryptocurrencies, Bitcoin has seen wild swings in value lately, making retail investors wonder if its worth wagering their money on it. Date 11.
Subscribe Today at Huge Savings! Our affiliate partners do not influence our editorial opinions or analysis. To learn more, see our Advertiser Disclosure. The premise sounds like something out of an SNL skit. This crypto-creation started in 2013 as an inside joke. The fact of the joke was signaled by its grin—more of a scowl, actually. The name itself was a purposefully misspelled dog and has been mispronounced in more ways than there are dog breeds. Today, some eight years after it was launched as prank and social commentary, Dogecoin is a publicly traded digital asset with a market cap in the tens of billions. If this digital coin had a reverse, it would surely feature a freakishly long tongue, no longer limited by the confines of cheek. Like any cryptocurrency crypto for short Dogecoin is decentralized digital money, based on blockchain technology. As the name suggests, a cryptocurrency is a medium of exchange. Encrypted and decentralized, cryptocurrency relies on a broadly distributed network of users to verify transactions and maintain its value. There is no Federal Reserve or other central bank that manages a cryptocurrency. The pioneering cryptocurrency was Bitcoin, a payment system rooted in cryptographic proof instead of trust. That proof comes in the form of transactions that are often verified using mathematical puzzles and recorded in an open, distributed ledger recording transactions in code—a kind of checkbook stored across computers worldwide. This distributed ledger records transactions in blocks that are linked to previous cryptocurrency transactions, forming a chain. Hence blockchain , the enigmatic word that often accompanies the mysterious cryptocurrency. Today, you can use cryptocurrency to make purchases at select retailers, though most people still use it as an investment. The backside of a golden dogecoin. All this while both Billy Markus and Jackson Palmer, the software engineers who created Dogecoin, have long ago left the project. Bitcoin—the staid, humorless, mascotless crypto—commands 500,000 times the computing power while offering scarcity to help assure value: the lifetime supply of Bitcoins is capped at 21 million coins. Dogecoin, on the other hand, promises a limitless supply of dogeared tokens, with some 130 billion Dogecoin in circulation and 14 million more minted daily. The problem is that Dogecoin is in the news for all the wrong reasons. Like its crypto-kennel mates, Dogecoin is extremely volatile and may just be a bubble waiting to burst. Just 10 wallets hold 44 percent of all Dogecoin ; if a couple of them decide to liquidate their positions, the cryptocurrency could meet an untimely demise. It is either widely accepted legal tender or an investment asset that is likely to maintain its value in a predictable way—or both. At this point, it is spectacularly neither. Yes, every dog has its day. But no dog can claim all the days in the year, and no human wants to have mere dog tags to show for all their investment savvy. Or—in the vein of internet memes—a T-shirt that complains, Dogecoin ate my dollars. He is a founding partner in Quartet Communications. Plus, get digital edition access and a free tote bag. Travel Destinations Hotels Resorts Spas. RR One. Search Close. Give the Gift of Luxury. Access Exclusive Content All Year. RR One Subscribe. By David Lavie. David Lavie. Like this article? Get the Robb Report newsletter for similar stories delivered straight to your inbox. Subscribe Today!
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