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What Is Dogecoin?

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What is Dogecoin?

 

Dogecoin is a cryptocurrency. You can use it like money, but only online, and with merchants that accept it. It was created in 2013 by two guys named Billy Marcus and Jackson Palmer. Originally, it was intended to mock other internet currencies like Bitcoin. Featured is a picture of a popular Shiba Inu dog known as “Doge” in thousands of memes worldwide.

Why is it named after some internet dog picture?

 

Firstly, it’s not an internet dog picture. It’s called a meme. And secondly, you’d have to ask the creators. Nobody really knows. It was a joke.

What is it worth?

 

As of today, each Dogecoin is worth $0.003456 USD. There are 113,711,691,262 DOGE in circulation, for a total of $392,987,605 US dollars worth. Yes, that’s right.

$392 million of this dog-meme joke currency?

 

Yes, that’s right. Despite starting as a joke, Dogecoin is actually rather popular. The creators even sponsored the Jamaican bobsled team in the 2014 Olympics.

Do people actually invest in Dogecoin?

 

They did. A guy named Ryan Kennedy, under the alias of John Green, began soliciting money to invest in Dogecoin from other users. He raised over $300,000, before his company went bankrupt. All the investors lost their money and Kennedy was charged with money laundering and fraud.

So, what happened to Dogecoin?

 

Nothing, really. It is still around: people still buy and sell it, and exchange it with others. But it is still a joke cryptocurrency.

Can I get Dogecoin?

 

Yes. You can get started at the Dogecoin website at http://dogecoin.com/ by downloading a Dogecoin wallet on your device.

Should I get Dogecoin?

 

If you want. Really, it’s a big joke. But if you’re into Doge memes or Shiba Inu dogs, Dogecoin might just be your thing. Just don’t expect to make money.

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1 Comment

One Response to “What Is Dogecoin?”

  1. Wendy on April 14th, 2018 11:11 pm

    I just made $25 on Doge. I bought a small amount for my daughter because she really wanted the dog. Ironically, it went up in price during the past few days. Lol

    [Reply]

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