Status Submission Year Origin BitcoinTalk Tags,,,,, About Dogecoin is an alternative cryptocurrency (altcoin) that uses the iconic Shibu Inu dog from the meme as a mascot. Similar to and its derivatives, Dogecoin can be mined and exchanged for goods and services among the participants, though it is programmed to level out at a higher threshold of up to 100 billion coins and prevent any use of special bitcoin-mining equipment like ASICs. In comparison, Bitcoin will cap out at 21 million coins and Litecoin will support up to 84 million coins in circulation. Origin On November 27th, 2013, marketing professional Jackson Palmer posted a tweet that he would be “investing in Dogecoin.” Investing in Dogecoin, pretty sure it’s the next big thing.

— Jackson Palmer (@jacksonpalmer) In an interview with the tech news blog Motherboard, Markus revealed that he wished to create a cryptocurrency that can reach a broader demographic than Bitcoin, which had previously come under accusations of funding illegal online activities like the drug marketplace. After Palmer reached out to Markus on Twitter, the pair launched the official Dogecoin website along with the new cryptocurrency on December 6th, 2013. Spread Following the launch of the official website, a slew of social media channels and referential webpages soon emerged for Dogecoin, including a Twitter account and a Facebook page, racking up more than 36,000 followers and 13,000 likes within the the first two months respectively. On December 8th, an entire subreddit community dedicated to the use of satirical cryptocurrency was launched at /r/dogecoin.. Throughout the first weekend of December, Dogecoin was highlighted by a number of tech news sites and blogs, providing a further boost to the value of the satirical currency. By December 14th, an encyclopedic article describing the concept of “Dogecoin” had been submitted by Wikipedia editor CitationNeeded.

How I mine dogecoin with ASIC rigs There are 3 ways to make money with Doge: 1. GPU mine them and instantly sell them on a crypto currency market. Update – State of the Doge – Spring 2015. Dogecoin is now a little over a year old. (or another Scrypt coin) directly using a Scrypt ASIC miner with (b). Jun 16, 2015 - ASICs—powerful computers designed to solve Bitcoin's proof of work function—are available for Dogecoin but difficult to purchase. In the Litecoin wiki just simply google mining hardware comparison for Litecoin and here is a list of different GPUs and how many kilo hashes they should be getting. Update – State of the Doge – Spring 2015. Dogecoin is now a little over a year old. (or another Scrypt coin) directly using a Scrypt ASIC miner with (b).

On December 17th, the DogeCoin YouTube channel uploaded a video titled “You Can be a Dogecoin Millionaire!”, featuring a sketch about the iconic Doge Shibu Inu dog Kabuso becoming a millionaire (shown below). On December 19th, Dogecoin increased from $0.00026 to $0.002 in value, becoming the 7th-largest altcoin. Three days later, the currency crashed to $0.0003 after being heavily mined. Dogecoin Hype Video Competition Between January and February 2014, the Dogecoin Foundation hosted a open submission contest for people to create a promotional video for the cryptocurrency. A total of 80 video entries were submitted and nine prizes were given out from a pool of over 800,000 dogecoin. The grand prize went to Redditor zimonitrome’s chiptune-inspired promo music video “Ð is for Ðogecoin.” (shown below) Notable Examples SaveDogemas Fundraiser Following the Dogewallet hack, a goodwill fundraiser campaign dubbed “SaveDogemas” was launched to help donate coins to those who lost them. Within the next month, it raised enough Dogecoin to cover all the losses.

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Jamaican Bobsled Team Fundraiser On January 19th, 2014, an Indiegogo page was created by members of the Jamaican Bobsled Team to fund their trip to the Sochi 2014 Winter Olympics. On the same day, a fundraiser was launched by the Dogecoin Foundation for the bobsled team, which gathered $35,000 in donations in the first 24 hours. During this time, Dogecoin to Bitcoin exchange rate rose by 50%. Indian Olympic Athlete Fundraiser On January 29th, days before the opening of Sochi Winter Olympics, Washington Post reported on the uphill battles faced by three Indian athletes participating in the Games, such as having to compete without a national flag, due to International Olympic Committee sanctions stemming from a corruption scandal, and as a result, lack of enthusiastic support from the Indian Olympic Committee, including the costs of their trips. India’s sports ministry agreed to help the athletes defray the costs of competing at Sochi.

Keshavan received sufficient funds, but it has been unclear whether the other two competitors can afford to make the trip. Roshan Lal Thakur, secretary general of the Winter Games Federation of India, said he has finally received three-quarters of the$22,000 needed to send the alpine skier Himanshu Thakur and cross-country skier Nadeem Iqbal and their coaches to the Games. Still, he doesn’t know where he will get the rest. “Maybe I have to borrow from friends,” he said.

“Some miracle will happen, no?” On the following day, Reddit’s /r/dogecoin subreddit and the Dogecoin Foundation launched a Sochi fundraiser for Indian skiers Himanshu Thakur and Nadeem Iqbal, raising more than $6,000 within just three hours, including one donor who contributed three million Dogecoin, worth about $4,500 at the time of the donation. Doge4Water in Kenya Fundraiser In March 2014, the Dogecoin Foundation announced a new month-long initiative to collect 40 million dogecoin to fund the creation of two water wells in a town in eastern Kenya. Dubbed “Doge 4 Water,” the charity drive will continue until “World Water Day” on March 22nd, when donations will be converted to dollars for transfer. NASCAR Sponsorship On March 17th, 2014, Redditor unicorn_butt_sex submitted a post calling for a Dogecoin sponsorship of NASCARdriver Josh Wise to the /r/dogecoin subreddit.

Buy Zcash ZEC Miner China. In 10 days, the post gained more than 760 up votes and 390 comments. Later that day, Wise found out about the sponsorship campaign and posted a tweet thanking the Dogecoin community for their support. The Reddit post was subsequently updated with 3D-rendered mockups of a sponsored race car featuring the Dogecoin symbol on the front hood and “wow such racecar” on the bumper, which were designed by Redditor mimicthefrench (shown below). On March 19th, Redditor lamamafia launched a paint job contest for Josh Wise’s Dogecoin-sponsored race car on /r/ NASCAR, where dozens of users submitted their custom entries for a 2014 Chevrolet SS car with various Doge-themed paint jobs. Over the course of the following week, Redditor NukaColaV13’s entry emerged as the highest-voted submission (shown below). Asic Metaverse ETP ETP Miners. On March 25th, Redditor One Good Shibe announced in /r/dogecoin that the community had raised 67.8 million Dogecoins (approximately $55,000) for the NASCAR fundraiser and that Wise would be racing a Doge-themed stock car at Aaron’s 499 in Talladega, Alabama on May 4th.

In the coming days, several news sites published articles about the crowdfunding campaign, including Motherboard, USA Today, The Guardian, CNET and The Verge. Dogetipbot Dogetipbot was launched by Redditor Josh Mohland in 2014 as a way to tip other Redditors with Dogecoin. Shutdown On May 8th, 2017, Mohland posted an announcement that all Dogetipbot coin balances had been wiped to 0 after he had spent all of his money and declared Chapter 7 bankruptcy. Additionally, he revealed that Dogetipbot would be shutdown entirely on December 15th. That day, Mohland posted an update that he had added an option for Dogetipbot users to request he pay them back, noting “I’ll have to buy them over time when I get paid, so this might take a while.” That day, an article about the shutdown was published on Gizmodo. $1 Billion Market Cap On January 5th, 2018, Dogecoin’s market capitalization rose upwards of $1 billion according to CoinMarketCap (shown below). That day, the cryptocurrency news blog Coindesk published an interview with Dogecoin founder Jackson Palmer, who left the team in April 2015.

In the interview, Palmer expressed concerns that Dogecoin’s success could be a troubling sign for the market: “The fact that most conversations happening in the media and between peers focus on the investment potential is worrying, as it draws attention away from the underlying technology and goals this movement was based. I have a lot of faith in the Dogecoin Core development team to keep the software stable and secure, but I think it says a lot about the state of the cryptocurrency space in general that a currency with a dog on it which hasn’t released a software update in over 2 years has a $1B+ market cap.” Search Interest.