Dogecoin review
Dogecoin is a rather unique crypto currency alternative. The coin’s face proudly displays the Shibe Inu from the internet meme ”Doge” surrounded by oddly written English in the Comic Sans font describing it’s wowness. It was released into the crypto world on December 8, 2013 and differ from the other alternatives by quite a bit. It derives from Luckycoin which is built on the Litecoin code base, that means that it uses Scrypt for it’s proof-of-work algorithm and is topped with the uniqueness from Luckycoin that gives for random sized block rewards.
As of with most new coins, Dogecoin was released without a large number of commercial applications. It managed to gain interest by the community for being used as a tipping currency around the internet simply by giving Dogecoin’s to the contributor as appreciation for submission of a noteworthy content, begining on the internet forum Reddit. Since the begining of Dogecoin’s growth, the coin has started to gain acceptance as a mean of payment by a large number of services ranging from apparel, electronics and books down to Hamburgers from BIT Bourbon Steam Burgers in London.
When Dogecoin was released, the reward for generating a block for the chain would be a random number somewhere in between 500,000 and 0. This feature has been patched as of March 10, 2014, mainly because of the larger multipools being able to calculate the probability of a block having a large reward and only aiming for solving these, resulting in that regular miners was being pushed out from the higher reward blocks. In the same update, Dogecoin was given a new method for switching the difficulty algorithm that was delivered by DigiByte’s development team and goes under the name of DigiShield.
The Dogecoin community is also extremely involved in charity donations and have been seen given massive amounts of money away to many charity’s such as Doge 4 Kids as swell as the current active charity donation; Doge 4 Water. Dogecoin also manage with the help of donations, to send the Jamaican bobsled team as well as the Indian luger Shiva Keshavan to the Winter Olympics. It seems to have an extremely helpful community and surely has the possibility to deliver big.
Dogecoin keeps the fun in crypto currency alive, and I hope to see more of this coin in the future.
I appreciate your short, succinct explanation. This coin has always been a bit mysterious to me. That's probably because I don't tip on Reddit, like I should.
Sounds good, but there's too much competition among Alt coins, I guess.
I check this coin often; the prices aren't doing great at the moment.
It's true, the competition is huge now. We must carefully choose coins. Thank you very much for the comment!
I bought a lot of NEO at $43 and did not sell at $60, waiting for it to go up. Now, I will have to wait again - sell it off once it gets to around $45!
What coins are you into if you don't mind me asking?
At the moment, I keep most of the capillal in Bitcoin. I have investments in Steem. Quite a large amount of capital was invested in the new ZRX coin, but now it has fallen dramatically in value and I have to hope for its growth in the future.
Yes, Bitcoin is evergreen. :)
I checked ZRX now- it looks good!
I hope so)
Should be fine in due course.
Most coins are good to invest short-term and make a quick buck.
I am actually mining for DOG on Eobot all the time and using it to tip or power up my Cloud Mining on Eobot. I think it is a great coin to use. Plus it is easily mined right now. Who knows what future might bring. DOG might become way more valuable. You never know with crypto currencies. :)
You are absolutely right. It seems to me this coin has prospects. And it's really convenient to use and receive right now. Thank you very much for your comment!
We will have to wait and see what the future will bring for this coin. Until then keep on mining brother. :) @tanata
You are more than welcome :)
Fun is why I bought it...
brova @tanata
Best comment ever
I agree with you:)
Good post
thanks!
I sense a great future for Dogecoin. I think it's funny, has good tech and especially is easy to use. (well, wallets et. are nice). Besides it is the oldest "fun-crypto" out there - I am pretty certain it will alaways contain some value as long as we have electricity on earth.
Interesting article. Same thoughts here. No matter how populair a coin is. People should always do a proper background check. It surprises me how many coins are out there that don't have their basics right. I really advice people to take a look at: https://www.coincheckup.com They seem to give this complete indepth analysis of all cryptocoins. See: https://www.coincheckup.com/coins/Dogecoin#analysis To see the: Dogecoin Detailed analysis.