Dogecoin 101 — Who made dogecoin? Will dogecoin go up in price?
What is dogecoin? Is dogecoin dead? Will dogecoin go up in price? These are just a few of the questions people have about this new and exciting crypto-currency. Read on to find out more!
What Is Dogecoin?
1. Dogecoin is an alternative virtual currency, meaning it’s not regulated by government.
2. It was introduced to public on 6 December 2013.
4. The name ‘doge’ comes from ‘doge meme’ which is internet humor popularized primarily on social news site Reddit and involves pictures of a Shiba Inu dog accompanied by broken English grammatical constructs, internal monologue as imagined by somebody with little or no grasp of proper English usage.
How Does It Work?
The cryptocurrency, or cyber currency, is based on what’s known as an alt-chain. According to Newsweek, Every new dogecoin that’s created on average makes its way back into circulation by being mined. The mining process generates coins, which are available to people with enough graphics processing power to take part.
So why don’t you get started now and mine some dogecoins? It’s not too late. Anyone can have their own share of these precious coins by taking part in today’s short tutorial for how does it work:
Who Made Dogecoin?
The initial creation of dogecoin began with programmer Billy Markus from Portland, Oregon, who hoped to create an alternate coin that could reach more people than bitcoin. This was partially because he wanted to have fun with his friends. In addition, he felt that bitcoin was too difficult for people without advanced knowledge of computers and programming language to use.
Dogicoin is one of several types of cryptocurrency, with bitcoins being another popular type. All cryptocurrencies are typically founded on ideas from established currencies like dollars or yen and can be traded for these currencies on exchanges such as Mt Gox or Cryptsy.
There are various things to know about owning dogecoins. First, you must download software onto your computer’s operating system that will allow you to buy and sell dogecoins. Then it takes 12–24 hours before you can trade them back into real currency again, and some sites allow your payments to be converted instantly. It’s also possible to spend any amounts of cash that you own by shopping at stores like Amazon or by donating money directly with PayPal using your email address as an ID.
What Are Some Advantages and Disadvantages of Dogecoin?
There are advantages and disadvantages to using Dogecoins. With dogecoins, transactions are not traced so it is possible to conceal one’s identity. Transactions can also be completed with minimal or no fees, even for microtransactions. However, as an open-source project that may produce free coins at anytime, there is no guarantee of future value or stability for holding them; compared to Bitcoin and other major cryptocurrencies that have stable markets for their coins and ongoing development programs to increase stability of operation.
Who invented dogecoin? what is dogecoin? will dogecoins price go up? To answer who created it, programmer Billy Markus from Portland Oregon created Dogecoin. In addition to that information, we cannot say whether or not its’ value will go up in terms of money. But, considering its’ uses: community involvement, charity crowdfunding and trading with peers without transaction fees — it has become an invaluable part of internet culture since its inception in 2013.
Will dogecoins price go up?
The answer to will dogecoin’s price go up? is not as simple as it may seem. Much of that can be attributed to supply and demand. The supply of Dogecoins will continue to rise, but for now, that’s limited by its fixed reward system. In other words, it’ll eventually run out of coins to mine if nothing changes. At that point, it could skyrocket again if more people become interested or use it for transactions.
To get an idea of what we might see happen with dogecoin’s prices, take Bitcoin. It just had its first major correction since 2009 — down 77% from peak to trough — a sign that some are worrying about how much cryptocurrency has been created lately. Now imagine what would happen if there was actually less bitcoin being mined on top of all those worries. That brings us back to whether or not more people will be using Dogecoins as time goes on, especially for transaction purposes, which would increase demand.