Dogecoin is about 10 days old. The currency is based on the popular doge meme and will have max 100 billion units. It uses scrypt and has a random block reward.
Dogecoin has a surprising momentum to it. I'm curious what role it will play once the initial novelty wears off. There are many more Doge than Bitcoin or Litecoin, so a single Doge will never be unattainable. It has a long way to go to even reach parity with the penny.
The amount of currency doesn't really matter. We can always trade in kilodoges or something.
It's interesting though, how it's pretty much an exact clone of bitcoin yet has such a different value. The value doesn't come from the thing itself, it's how many people are using it.
Dogecoins do have some minor value though as there is a subreddit of people willing to perform petty tasks in exchange for them.
I'm still shocked how a dumb meme-based altcoin gained so much popularity, where all other just as boring and generic Bitcoin forks died down or are completely insignificant.
To their credit though, they based it off of Litecoin... making it a fork of a fork.
Either I have no sense of humor, or we aren't going to be seeing October 1993 any time soon. Can't wait for "Latvian Potato Coin" to appear in the future.
Obviously they spread. I guess my use of "meme" was a bit too broad, I meant image macro, specifically. They used to be humorous, but they're now so overdone and generic that they simply hurt to look at. It's like a fast food five second dose of "comedy", which I guess is fitting for our present fast food society.
Now that I think about it, that statement was asinine. I'm quite familiar with 4chan, Something Awful and Reddit. Never underestimate the stupidity of a general community. But sometimes, I just wish people would take the time to watch a 64k demo instead of a YouTube celebrity video.
Reddit has a way of tipping people with bitcoins for posts
/u/bitcoinbot 0.015BTC verify
people saw these public tips, kind of an alternative to reddit gold, so it entered the consciousness of the community. dogechain was born because, more or less, it was pretty funny to drop this on someone:
If I wanted these kinds of comments I'd go to reddit.. Keep memes off this site please, it's one of the last public forums on the internet without them.
>reddit and 4chan
Well looks like the internet has decided what coin they want to use.
Buttcoins are deprecated.