What is Dogecoin?
Dogecoin was published on December 8th 2013 as a parody of Bitcoin.
Four weeks after its publishing, 25% of all Dogecoins have been mined.
Just as Litecoin, Dogecoin uses scrypt in its Proof-of-Work-Algorithm, but instead of taking 2,5 minutes to mine a new block, it just takes one minute to mine a block of the Dogecoin-chain.
A defining characteristic of Doge is the immense amount of Coins that can be generated.
While Bitcoin is limited to 84 million Coins, Dogecoin was initially limited to 100 billion Coins!
On February 2nd 2014, this limit got canceled. This fact made Dogecoin an inflationary Coin, but because of the steady number of Coins being added per year, the inflation rate decreases over the years.
What is its use case?
As I mentioned earlier, dogecoin started as a counter-joke to call attention to the rise of useless sh**-coins.
The Coin is designed to offer fast and affordable online transactions. You can use it to pay for goods and services and use it as a vehicle trade with other coins.
Just like on Publish.0x, you can tip Dogecoin to content creators on other websites.
Fundraising campaigns
In 2014, the Dogecoin community raised 30.000$ to enable the Jamaican bobsleigh driving team to compete in the Olympic games.
At this moment, the reddit-community collects dogecoins for a manned space flight to the moon.
Where can I buy Dogecoin?
Because of its high volatility, Dogecoin is not available on every exchange.
As a European citizen, you can buy Doge at LiteBit.eu and AnycoinDirect.eu
As a US citizen, you can buy it on Bittrex, Binance, coinswitch and cointree
Should I invest in Dogecoin?
Dogecoins co-founder, Jackson Palmer, said in an interview with CoinDesk in March 2027, that new features aren’t being implemented into dogecoin, because there is no active development anymore.
On the other hand, Dogecoin is still popular in the online- and streaming-community.
There was once a small community believing in bitcoin, that now laughs at the people, that laughed at them. Eventually history repeats, but I personally would not bet my money on it.
This is no financial advice!
Always do your own research!
