What is dogecoin
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Dogecoin, a cryptocurrency created as a satire of the absurdity of virtual money
On December 6th, BitcoinTalk forum member Dogecoin introduced an alternative cryptocurrency based on the meme as a satire of the Bitcoin boom in a thread titled "Dogecoin – very currency – many coin – wow – v1.1 Released." Similar to Bitcoin 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.
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 1,000 followers and 1,800 likes within the the first week, respectively. On December 8th, an entire subreddit community dedicated to the use of satirical cryptocurrency was launched at /r/dogecoin, accruing more than 2,600 subscribers in just over a week.
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. At its peak, the estimated value of DogeCoin skyrocketed to as high as $400.80 per coin.
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Hunter: @softuno84
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Original source: What is dogecoin - https://dogecoin.com/ — Steemit. https://steemit.com/steemhunt/@softuno84/what-is-dogecoin-https-dogecoin-com
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