Dogecoin is a new digital cryptocurrency which was started in December, 2013. It follows upon the pioneer digital currency, Bitcoin. Dogecoin is new and offers a lot of benefits to the finance world.
First, Dogecoin is a far less valuable currency. As such, it is more suited to the daily transactions which make up the bulk of e-commerce. Products and services are more naturally priced in Dogecoin. For example, a cup of coffee might be perhaps 200 Dogecoin. With Bitcoin, it would be 0.0005, or so. The extreme precision needed for high valued currency is harder for people to accept.
Next, Dogecoin is non-threatening. The currency mascot is a Shiba Inu, a dog breed which originated in Japan. As such, the image directly associated is a cute animal. People love dogs so they are more accepting of Dogecoin. Many other cryptocurrencies have no such mascot. Instead, many have simple text letters to identify them. This is not as immediately obvious as the Dogecoin Shiba Inu image.
Finally, Dogecoin has gained an incredibly large, and active, following in just a few weeks. People on the Internet have embraced the currency. It is now the second most popular cryptocurrency, and it is rising still. Actually, depending on the measure, Dogecoin is number one. It is already the most actively used cryptocurrency, per day. This is partly due to the fact that it is a fraction of the value of other types.
The first year anniversary of Dogecoin is December 9, 2014. At that time, the block reward will be cut. Then it will be set to a fixed 10,000 per block. This is unlike most other electronic currencies. Most start with a block reward value and cut it in half continually. They never reach zero, but approach it.
Dogecoin Resources on Amazon
The first ebook to be available from Amazon that covers Dogecoin.
In All Seriousness
Dogecoin could easily become a major factor in the online world of e-commerce. The concept, started as a play on an Internet joke, has resonated with many people. In less than a month, the currency was well received by many people. It was able to attain the number two position in the cryptocurrency world, displacing others that had been in existence for years.
Part of the strength of Dogecoin is the community that has rallied around it. More than 24,000 people actively support it. The online community of Reddit has embraced it. The hashtag is a very high trending topic on Twitter, Google and other sites. In the first month, it went from total obscurity to highly prominent. Time will tell whether it has the strength to persist, but it very easily could.
In 2014, many applications are being released that support Dogecoin. Many shopping carts support it, allowing easy online purchases. The currency is easily used to transfer funds between people, support charities, or provide small amounts of tips to individuals. If the early level of activity continues, the future will be bright indeed.
Mining is the process that creates digital currency using computer technology.
Have you heard of Dogecoin already?
Because Dogecoin was named after an Internet meme with a cute Shiba Inu dog as the mascot, fans decided early to use many funny terms to describe items.
First, fans of the currency are referred to as "Shibes". One can be a "Rich Shibe", a "Poor Shibe", and so on. Various other adjectives are accepted as well including "Sick", "Amazed", "Hopeful", etc.
The primary objective for the cryptocurrency is to become entirely mainstream. This goal is expressed with the slogan "To the Moon!". Shibes will proclaim this whenever appropriate opportunities arise.
Sometimes, Doge can be used to describe either the currency, or one of the fans. It is used as a slang term for the more proper ones.
Do you think that Dogecoin will survive as a cryptocurrency?