Dogecoin – a funny cryptocurrency with real value ...
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Thank you so much MillionaireMakers! Couldn't have happened at a better time!
This couldn't have happened at a better time, and I am in complete shock that I won! I'm currently driving a 13 year old car that is on it's very last legs, so any winnings will be going towards a new (used) car and/or paying off some old debt. I was laid off a few years back and got into some financial trouble that I've not quite dug out of, as my new job wasn't quite as good financially. This will go a long way to helping with that as well. I'm really at a loss for words, but thank you so much, I'm literally in tears as I write this. My hands are shaking. I've never won anything like this before. For me, it's a life-changing moment. Honestly and truly. This part is written by the mods: All of the amounts below should result in sonician receiving about $1 USD Methods of payment: Tipbots
EDIT: Just passed $200 in the first hour! You are ALL amazing and generous people! Thank you! EDIT #2: I've removed the Google Wallet option as I guess because I'm in Canada, it can't really be used. Sorry about that. :( EDIT #3: I have tried to take a moment to thank each and every one of you, but I now have to go to bed, as I have work in the morning. I seriously can't thank everyone enough. I will update again in the morning.... assume I can sleep tonight! You are ALL the BEST! Thanks! EDIT #4: Good morning! Thank you everyone for such kindness! Had some broken sleep last night, but my excitement levels are still through the roof! A quick, back of the napkin math, shows that we've totalled $1151 USD as of now, in just 9 hours! EDIT #5 (2/22/16 - 12pm EST): Just a quick note to say that, while busy at work today, I just wanted to re-iterate my thanks to everyone. Closing in on $1500 USD. I am running out of things to say, other than I can never appreciate it enough, and even that amount of money will really change things for me going forward! EDIT #6 (2/22/16 - 5pm EST): $1895.65 USD (nearly $2600 Canadian Loonies!) in ~21 hours! Just home from work, but am going get something to eat, and begin getting caught up on my thank yous! Every one of you deserves one, so that is my goal! EDIT #7 (2/23/2016 - 6am EST): Just a shade under $2000, at $1960 USD. I apologize for not responding to more of you yesterday, I literally passed out from exhaustion between work, and then the overflow of emotions from all of you. I will get to the rest of you today when I get home from work. Thank you again! EDIT #8 (2/23/16 - 20:30 EST): Well, you passed $2000, and the total now sits at $2017.86 USD. So I'm a two-thousandaire! And while it's not a million (nor would I ever dream of that), I would like to again thank everyone for their overwhelming generosity. My thanks alone can never be enough, but I hope it will do for now. I don't even know what to do for everyone, other than promise that this money will NOT go to waste. I LOVE you all! EDIT #9: Does anyone know why I keep seeing a large number of "POCKET ERROR" on ChangeTip? Is it something I'm doing wrong, or is there a problem with my account? Maybe ChangeTip can answer this one for me? EDIT: The History shows about 35 "POCKET ERROR" on transactions.. EDIT #10: The latest total is now $2092.70! Thank you very much! I've ensured to thank each and every one of you individually up to this point. Car is going into the shop to get checked out on Saturday to determine if it's worth repairing, or should I look for something else. At least now, I have that option, thanks to all of you! EDIT #11: Final (but depressing) Update I was hoping to come to you all with some very exciting news, that would be seen as an amazing contribution by this community and all of you. Unfortunately, that's not the case. About two weeks ago, I took the money that I had won, and went on the hunt for a car. I found one, and bought it after checking it out, and making sure that everything was operational. It was a 2004 Ford Focus wagon. The body was in really great shape, and the engine was solid. I took it to get an oil change, and have the mechanics give it a once over, and they said everything looked good. So I registered the car in my name, had a new fan belt put on, and was good t go, so I thought. This past week, on Wednesday, I was running errands at lunch, and the engine started to choke and vibrate quite badly. Engine light came on, and it nearly stalled out at intersections. I immediately took it to the auto shop, and had them check it out. I thought at first that maybe there was a bad spark plug, or something. Turned out to be much worse. Looks like the head gasket on the engine ruptured, and one of the cylinders has lost all pressure. Early estimates are over $1000 to fix, which I can't afford, nor do I want to, as I think I was scammed by the seller. So I come to you with great sadness and embarrassment. What was to be dubbed "The MillionaireMakers Reddit car", has turned into a nightmare. So I'm out the money, out the car, and back to square one. All used car purchases are "as is" and there is nothing like a lemon law where I live. So I don't even have any recourse with the seller. This isn't a plea for help or a request for anything. I just wanted to share with you, the outcome of draw #16. I'm very sorry to everyone. I tried to make things better from your generosity. Turns out, I can't even do that right.
What are cryptocurrencies? Cryptocurrencies are peer to peer technology protocols which rely on the block-chain; a system of decentralized record keeping which allows people to exchange unmodifiable and indestructible information “coins,” globally in little to no time with little to no fees – this translates into the exchange of value as these coins cannot be counterfeit nor stolen. This concept was started by Satoshi Nakamoto (allegedly a pseudonym for a single man or organization) whom described and coded Bitcoin in 2009. What is DigiByte? DigiByte (DGB) is a cryptocurrency like Bitcoin. It is also a decentralized applications protocol in a similar fashion to Neo or Ethereum. DigiByte was founded and created by Jared Tate in 2014. DigiByte allows for fast (virtually instant) and low cost (virtually free) transactions. DigiByte is hard capped at 21 billion coins which will ever be mined, over a period of 21 years. DigiByte was never an ICO and was mined/created in the same way that Bitcoin or Litecoin initially were. DigiByte is the fastest UTXO PoW scalable block-chain in the world. We’ll cover what this really means down below. DigiByte has put forth and applied solutions to many of the problems that have plagued Bitcoin and cryptocurrencies in general – those being:
Maintaining low fees.
Maintaining fast transaction times.
Maintaining robust security + the immutable ledger.
And most importantly assuring massive scalability on chain.
We will address these point by point in the subsequent sections. The DigiByte Protocol DigiByte maintains these properties through use of various technological innovations which we will briefly address below. Why so many coins? 21 Billion When initially conceived Bitcoin was the first of a kind! And came into the hands of a few! The beginnings of a coin such as Bitcoin were difficult, it had to go through a lot of initial growth pains which following coins did not have to face. It is for this reason among others why I believe Bitcoin was capped at 21 million; and why today it has thus secured a place as digital gold. When Bitcoin was first invented no one knew anything about cryptocurrencies, for the inventor to get them out to the public he would have to give them away. This is how the first Bitcoins were probably passed on, for free! But then as interest grew so did the community. For them to be able to build something and create something which could go on to have actual value, it would have to go through a steady growth phase. Therefore, the control of inflation through mining was extremely important. Also, why the cap for Bitcoin was probably set so low - to allow these coins to amass value without being destroyed by inflation (from mining) in the same way fiat is today! In my mind Satoshi Nakamoto knew what he was doing when setting it at 21 million BTC and must have known and even anticipated others would take his design and build on top of it. At DigiByte, we are that better design and capped at 21 billion. That's 1000 times larger than the supply of Bitcoin. Why though? Why is the cap on DigiByte so much higher than that of Bitcoin? Because DigiByte was conceived to be used not as a digital gold, nor as any sort of commodity, but as a real currency! Today on planet Earth, we are approximately 7.6 billion people. If each person should want or need to use and live off Bitcoin; then equally split at best each person could only own 0.00276315789 BTC. The market cap for all the money on the whole planet today is estimated to have recently passed 80 trillion dollars. That means that each whole unit of Bitcoin would be worth approximately $3,809,523.81! $3,809,523.81 This is of course in an extreme case where everyone used Bitcoin for everything. But even in a more conservative scenario the fact remains that with such a low supply each unit of a Bitcoin would become absurdly expensive if not inaccessible to most. Imagine trying to buy anything under a dollar! Not only would using Bitcoin as an everyday currency be a logistical nightmare but it would be nigh impossible. For each Satoshi of a Bitcoin would be worth much, much, more than what is realistically manageable. This is where DigiByte comes in and where it shines. DigiByte aims to be used world-wide as an international currency! Not to be hoarded in the same way Bitcoin is. If we were to do some of the same calculations with DigiByte we'd find that the numbers are a lot more reasonable. At 7.6 billion people, each person could own 2.76315789474 DGB. Each whole unit of DGB would be worth approximately $3,809.52. $3,809.52 This is much more manageable and remember in an extreme case where everyone used DigiByte for everything! I don't expect this to happen anytime soon, but with the supply of DigiByte it would allow us to live and transact in a much more realistic and fluid fashion. Without having to divide large numbers on our phone's calculator to understand how much we owe for that cup of coffee! With DigiByte it's simple, coffee cost 1.5 DGB, the cinema 2.8 DGB, a plane ticket 500 DGB! There is a reason for DigiByte's large supply, and it is a good one! Decentralisation Decentralisation is an important concept for the block-chain and cryptocurrencies in general. This allows for a system which cannot be controlled nor manipulated no matter how large the organization in play or their intentions. DigiByte’s chain remains out of the reach of even the most powerful government. This allows for people to transact freely and openly without fear of censorship. Decentralisation on the DigiByte block-chain is assured by having an accessible and fair mining protocol in place – this is the multi-algorithm (MultiAlgo) approach. We believe that all should have access to DigiByte whether through purchase or by mining. Therefore, DigiByte is minable not only on dedicated mining hardware such as Antminers, but also through use of conventional graphics cards. The multi-algorithm approach allows for users to mine on a variety of hardware types through use of one of the 5 mining algorithms supported by DigiByte. Those being:
Please note that these mining algorithms are modified and updated from time to time to assure complete decentralisation and thus ultimate security. The problem with using only one mining algorithm such as Bitcoin or Litecoin do is that this allows for people to continually amass mining hardware and hash power. The more hash power one has, the more one can collect more. This leads to a cycle of centralisation and the creation of mining centres. It is known that a massive portion of all hash power in Bitcoin comes from China. This kind of centralisation is a natural tendency as it is cheaper for large organisations to set up in countries with inexpensive electricity and other such advantages which may be unavailable to the average miner. DigiByte mitigates this problem with the use of multiple algorithms. It allows for miners with many different kinds of hardware to mine the same coin on an even playing field. Mining difficulty is set relative to the mining algorithm used. This allows for those with dedicated mining rigs to mine alongside those with more modest machines – and all secure the DigiByte chain while maintaining decentralisation. Low Fees Low fees are maintained in DigiByte thanks to the MultiAlgo approach working in conjunction with MultiShield (originally known as DigiShield). MultiShield calls for block difficulty readjustment between every single block on the chain; currently blocks last 15 seconds. This continuous difficulty readjustment allows us to combat any bad actors which may wish to manipulate the DigiByte chain. Manipulation may be done by a large pool or a single entity with a great amount of hash power mining blocks on the chain; thus, increasing the difficulty of the chain. In some coins such as Bitcoin or Litecoin difficulty is readjusted every 2016 blocks at approximately 10mins each and 2mins respectively. Meaning that Bitcoin’s difficulty is readjusted about every two weeks. This system can allow for large bad actors to mine a coin and then abandon it, leaving it with a difficulty level far too high for the present hash rate – and so transactions can be frozen, and the chain stopped until there is a difficulty readjustment and or enough hash power to mine the chain. In such a case users may be faced with a choice - pay exorbitant fees or have their transactions frozen. In an extreme case the whole chain could be frozen completely for extended periods of time. DigiByte does not face this problem as its difficulty is readjusted per block every 15 seconds. This innovation was a technological breakthrough and was adopted by several other coins in the cryptocurrency environment such as Dogecoin, Z-Cash, Ubiq, Monacoin, and Bitcoin Gold. This difficulty readjustment along with the MultiAlgo approach allows DigiByte to maintain the lowest fees of any UTXO – PoW – chain in the world. Currently fees on the DigiByte block-chain are at about 0.0001 DGB per transaction of 100 000 DGB sent. This depends on the amount sent and currently 100 000 DGB are worth around $2000.00 with the fee being less than 0.000002 cents. It would take 500 000 transactions of 100 000 DGB to equal 1 penny’s worth. This was tested on a Ledger Nano S set to the low fees setting. Fast transaction times Fast transactions are ensured by the conjunctive use of the two aforementioned technology protocols. The use of MultiShield and MultiAlgo allows the mining of the DigiByte chain to always be profitable and thus there is always someone mining your transactions. MultiAlgo allows there to a greater amount of hash power spread world-wide, this along with 15 second block times allows for transactions to be near instantaneous. This speed is also ensured by the use DigiSpeed. DigiSpeed is the protocol by which the DigiByte chain will decrease block timing gradually. Initially DigiByte started with 30 second block times in 2014; which today are set at 15 seconds. This decrease will allow for ever faster and ever more transactions per block. Robust security + The Immutable Ledger At the core of cryptocurrency security is decentralisation. As stated before decentralisation is ensured on the DigiByte block chain by use of the MultiAlgo approach. Each algorithm in the MultiAlgo approach of DigiByte is only allowed about 20% of all new blocks. This in conjunction with MultiShield allows for DigiByte to be the most secure, most reliable, and fastest UTXO block chain on the planet. This means that DigiByte is a proof of work (PoW) block-chain where all transactional activities are stored on the immutable public ledger world-wide. In DigiByte there is no need for the Lightning protocol (although we have it) nor sidechains to scale, and thus we get to keep PoW’s security. There are many great debates as to the robustness or cleanliness of PoW. The fact remains that PoW block-chains remain the only systems in human history which have never been hacked and thus their security is maximal. For an attacker to divert the DigiByte chain they would need to control over 93% of all the hashrate on one algorithm and 51% of the other four. And so DigiByte is immune to the infamous 51% attack to which Bitcoin and Litecoin are vulnerable. Moreover, the DigiByte block-chain is currently spread over 200 000 plus servers, computers, phones, and other machines world-wide. The fact is that DigiByte is one of the easiest to mine coins there is – this is greatly aided by the recent release of the one click miner. This allows for ever greater decentralisation which in turn assures that there is no single point of failure and the chain is thus virtually un-attackable. On Chain Scalability The biggest barrier for block-chains today is scalability. Visa the credit card company can handle around 2000 transactions per second (TPS) today. This allows them to ensure customer security and transactional rates nation-wide. Bitcoin currently sits at around 7 TPS and Litecoin at 28 TPS (56 TPS with SegWit). All the technological innovations I’ve mentioned above come together to allow for DigiByte to be the fastest PoW block-chain in the world and the most scalable. DigiByte is scalable because of DigiSpeed, the protocol through which block times are decreased and block sizes are increased. It is known that a simple increase in block size can increase the TPS of any block-chain, such is the case with Bitcoin Cash. This is however not scalable. The reason a simple increase in block size is not scalable is because it would eventually lead to some if not a great amount of centralization. This centralization occurs because larger block sizes mean that storage costs and thus hardware cost for miners increases. This increase along with full blocks – meaning many transactions occurring on the chain – will inevitably bar out the average miner after difficulty increases and mining centres consolidate. Hardware cost, and storage costs decrease over time following Moore’s law and DigiByte adheres to it perfectly. DigiSpeed calls for the increase in block sizes and decrease in block timing every two years by a factor of two. This means that originally DigiByte’s block sizes were 1 MB at 30 seconds each at inception in 2014. In 2016 DigiByte increased block size by two and decreased block timing by the same factor. Perfectly following Moore’s law. Moore’s law dictates that in general hardware increases in power by a factor of two while halving in cost every year. This would allow for DigiByte to scale at a steady rate and for people to adopt new hardware at an equally steady rate and reasonable expense. Thus so, the average miner can continue to mine DigiByte on his algorithm of choice with entry level hardware. DigiByte was one of the first block chains to adopt segregated witness (SegWit in 2017) a protocol whereby a part of transactional data is removed and stored elsewhere to decrease transaction data weight and thus increase scalability and speed. This allows us to fit more transactions per block which does not increase in size! DigiByte currently sits at 560 TPS and could scale to over 280 000 TPS by 2035. This dwarfs any of the TPS capacities; even projected/possible capacities of some coins and even private companies. In essence DigiByte could scale worldwide today and still be reliable and robust. DigiByte could even handle the cumulative transactions of all the top 50 coins in coinmarketcap.com and still run smoothly and below capacity. In fact, to max out DigiByte’s actual maximum capacity (today at 560 TPS) you would have to take all these transactions and multiply them by a factor of 10! Oher Uses for DigiByte Note that DigiByte is not only to be used as a currency. Its immense robustness, security and scalability make it ideal for building decentralised applications (DAPPS) which it can host. DigiByte can in fact host DAPPS and even centralised versions which rely on the chain which are known as Digi-Apps. This application layer is also accompanied by a smart contract layer. Thus, DigiByte could host several Crypto Kitties games and more without freezing out or increasing transaction costs for the end user. Currently there are various DAPPS being built on the DigiByte block-chain, these are done independently of the DigiByte core team. These companies are simply using the DigiByte block-chain as a utility much in the same way one uses a road to get to work. One such example is Loly – a Tinderesque consensual dating application. DigiByte also hosts a variety of other platform projects such as the following:
DigiPay – A jqeury online payment protocol portal web plugin.
DigiByte DigiHash - The official DigiByte foundation mining pool.
DigiByte Digi-ID – A platform for identity verification to be used in lieu of two factor authentication and passwords.
DigiByte Emma AI – A DigiByte interactive artificial intelligence assistant.
DigiByte DigiMan – A web browser plugin to be used as a security layer two protocol.
DigiByte DigiSeeder – A background seeding service which assures all wallets quickly find other peers in the network.
DigiByte DigiMessenger – A ground-breaking messaging application built on top of DigiByte which features robust and virtually unbreakable encryption.
DigiByte OneClickMiner – An easy to set up application which allows users to quickly start mining DigiByte on their home machines.
DigiByte DigiBot – A telegram bot for users to interact with DigiByte and more.
The DigiByte Foundation As previously mentioned DigiByte was not an ICO. The DigiByte foundation was established in 2017 by founder Jared Tate. Its purpose is as a non-profit organization dedicated to supporting and developing the DigiByte block-chain. DigiByte is a community effort and a community coin, to be treated as a public resource as water or air. Know that anyone can work on DigiByte, anyone can create, and do as they wish. It is a permissionless system which encourages innovation and creation. If you have an idea and or would like to get help on your project do not hesitate to contact the DigiByte foundation either through the official website and or the telegram developer’s channel. For this reason, it is ever more important to note that the DigiByte foundation cannot exist without public support. And so, this is the reason I encourage all to donate to the foundation. All funds are used for the maintenance of DigiByte servers, marketing, and DigiByte development. DigiByte Resources and Websites DigiByte
OS X Wallet
Rasberry Pi Wallet
Ledger Hardware Wallet
Please refer to the sidebar of this sub-reddit for more resources and information. Edit - Removed Jaxx wallet. Edit - A new section was added to the article: Why so many coins? 21 Billion Edit - Adjusted max capacity of DGB's TPS - Note it's actually larger than I initially calculated. Edit – Grammar and format readjustment Hello, I hope you’ve enjoyed my article, I originally wrote this for the reddit sub-wiki where it generally will most likely, probably not, get a lot of attention. So instead I've decided to make this sort of an introductory post, an open letter, to any newcomers to DGB or for those whom are just curious. I tried to cover every aspect of DGB, but of course I may have forgotten something! Please leave a comment down below and tell me why you're in DGB? What convinced you? Me it's the decentralised PoW that really convinced me. Plus, just that transaction speed and virtually no fees! Made my mouth water! -Dereck de Mézquita I'm a student typing this stuff on my free time, help me pay my debts? Thank you! D64fAFQvJMhrBUNYpqUKQjqKrMLu76j24g https://digiexplorer.info/address/D64fAFQvJMhrBUNYpqUKQjqKrMLu76j24g
how to shibecoin v rich in minutes much instruct so simple any doge can do
UPDATE 1/21/14: I'm not updating this guide anymore. Most of the steps should still work though. See the wiki or check the sidebar for updated instructions. Before you do anything else, you need to get a wallet. Until there's a secure online wallet, this means you need to download the dogecoin client. Now open the client you just downloaded. You'll be given a default address automatically, and it should connect to peers and start downloading the dogechain (aka blockchain in formal speak). You'll know because there will be a progress bar at the bottom and at the lower right there should be a signal strength icon (TODO: add screenshots). If you've waited 2 or 3 minutes and nothing is happening, copy this:
And paste it into a new text file called dogecoin.conf, which you then place into the dogecoin app directory.
On Windows this is C:\Users\[YOUR_USER]\AppData\Roaming\DogeCoin
On Macs it's ~/Library/Application Support/DogeCoin
Now restart your qt client and the blockchain should start downloading in about 1-2 minutes. Once it finished downloading, you're ready to send and receive Dogecoins!
Decide how you want to get Dogecoin. Your options are:
I'll go into detail about each of these. I'm currently writing this out. I'll make edits as I add sections. Suggestions are welcome.
Mining is how new dogecoins are created. If you're new to crypto currencies, read this. To mine (also called "digging"), a computer with a decent GPU (graphics card) is recommended. You can also mine with your CPU, but it's not as efficient.
These instructions cover only Windows for now. To mine, you'll need to figure out what GPU you have. It'll be either AMD/ATI or Nvidia. The setup for both is approximately the same.
Step One: Choose a pool
There's a list of pools on the wiki. For now it doesn't really matter which one you choose. You can easily switch later. NOTE: Youcanmineintwoways.Solominingiswhereyouminebyyourself.Whenyoufindablockyougetallthereward.Poolminingiswhenyouteamupwithotherminerstoworkonthesameblocktogether.Thismakesitmorelikelythatyou'llfindablock,butyouwon'tgetallofit,you'llhavetosplititupwithothersaccordingtoyourshareofthework.Poolminingisrecommendedbecauseitgivesyoufrequentpayouts,becauseyoufindmoreblocks.Thelargerthepoolyoujoin,themorefrequentthepayouts,butthesmallertherewardyouget. Overalongperiodoftimethedifferencebetweenpoolandsolomininggoesaway,butifyousolomineitmightbemonthsbeforeyougetanycoins.
Step two: Set up pool account
The pool you chose should have a getting started page. Read it and follow the instructions. Instructions vary but the general idea is:
Create an account
Create a worker under the account
Grab the mining URL (usually on the getting started page)
Setup your cash out options in your account settings by entering one of your wallet's receiving addresses
When you're done with this, you'll need to know:
Your account, worker name, and worker password
The mining (stratum) URL (usually the pool's URL followed by a port)
Step three: Download mining software
For best performance you'll need the right mining software.
Create a text file in the same folder as your miner application. Inside, put the command you'll be running (remove brackets). For AMD it's cgminer.exe --scrypt -o stratum+tcp://: -u -p For Nvidia it's cudaminer.exe -o stratum+tcp://: -O : Substitute the right stuff in for the placeholders. Then on the next line of the text file type pause. This will let you see any errors that you get. Then save the file with any name you want, as long as the file extension is .bat. For example mine_serverName.bat.
Step five: Launch your miner
Just open the .bat file and a command line window should pop up, letting you know that the miner is starting. Once it starts, it should print out your hash rate. If you now go to the pool website, the dashboard should start showing your hashrate. At first it'll be lower than what it says in the miner, but that's because the dashboard is taking a 5 minute average. It'll catch up soon enough. NOTE: Anormalhashrateisbetween50Kh/suptoeven1Mh/sdependingonyourGPU.
You're now mining Dogecoins
That's it, nothing more to it.
CPU mining isn't really recommended, because you'll be spending a lot on more on power than you'd make from mining Dogecoin. You could better spend that money on buying Dogecoin by trading. But if you have free electricity and want to try it out, check out this informative forum post.
Trading has been difficult so far, but Dogecoin just got added to a few new exchanges. If you don't have a giant mining rig, this is probably the best way to get 100k or more dogecoins at the moment. I'll write up a more complete guide, but for now check out these sites:
Faucets are sites that give out free coins. Usually a site will give out somewhere between 1 and 100 Dogecoin. Every site has its own time limits, but usually you can only receive coins once every few hours, or in some cases, days. It's a great way to get started. All you do is copy your address from the receive section of your wallet and enter it on some faucet sites. Check out /dogecoinfaucets for more. If you go to each site on there you might end up with a couple hundred Dogecoin!
This method is pretty straightforward. Post your receiving address, and ask for some coins. Such poor shibe. The only catch is, don't do it here! Please go to /dogecoinbeg.
Other redditors can give you Dogecoin by summoning the tip bot, something like this: +dogetipbot 5 doge This might happen if you make a good post, or someone just wants to give out some coins. Once you receive a tip you have to accept it in a few days or else it'll get returned. Do this by following the instructions on the message you receive in your inbox. You reply to the bot with "+accept". Commands go in the message body. Once you do that, the bot will create a tipping address for you, and you can use the links in the message you receive to see your info, withdraw coins to your dogecoin-qt wallet, see your history, and a bunch of other stuff. As a bonus, so_doge_tip has a feature where you can get some Dogecoins to start with in exchange for how much karma you have. To do this, send the message "+redeem DOGE" to so_doge_tip. You'll need to create a tipping account if you don't have one. If you want to create a tipping account without ever being tipped first, message either of the bots with "+register" and an address will be created for you.
1/21/14 - Added note about this thread no longer being updated
1/21/14 - Changed wallet links to official site
12/27/13 - Added 1.3 wallet-qt links
12/21/13 - Added new windows 1.2 wallet link
12/20/13 - Fixed +redeem text
12/18/13 - Added short blurb on trading.
12/18/13 - Updated cudaminer to new version (cudaminer-2013-12-18.zip).
As we're closing on a beta release for Dogecoin Core 1.10, I wanted to talk about where 1.9 went to, why we haven't had a major release in 11 months, and what we're doing differently in future. This is a long post, but I swear it's worth reading in full. First of all, important security announcement: If you're using brain wallets (this won't be many of you, but want to ensure we catch anyone who is), stop, and move your funds right now. There was a security talk at DEF CON which basically explained how much their security is broken, more detail at https://rya.nc/cracking_cryptocurrency_brainwallets.pdf. For anyone who's unsure, brain wallets are where you pick a set of words and use them to generate a wallet, such as bip32.org (I'm not linking that) lets you do. If you have been given words by a random process (i.e. Multibit HD, Electrum, Trezor, Ledger), these are AFAIK fine, it's just manually chosen words that are a disaster waiting to happen. Next, there's a Bitcoin village, at Chaos Communication Camp next weekend, and while the core developers can't attend (we're doing dull day job things instead), Dogerain's developer will be there, and they're organising a video hangout with the Dogecoin core devs. Not sure if others can attend remotely, but if you're at the camp we'd love to get to talk to you! Right, back to 1.9; Dogecoin Core 1.9 was going to be 1.8 with the Bitcoin Core 0.10 changes merged in. The same process was used to make Dogecoin Core 1.8 from 1.7 with Bitcoin Core 0.9, so we knew what we were doing. With almost 1,300 commits to review and apply it would take a while, but in theory was straight forward enough. A spreadsheet was created to track progress amongst the developers, and in January we set out to start merging. At this point we discovered several things:
Some patches from 0.10 had been merged in early and out of sequence, so we had to avoid merging them twice.
A lot of the changes were less readily compatible with Dogecoin Core than we expected.
1,300 is really a lot of changes
As time dragged on, we gained further assistance (Sporklin, this means you) in preparing merged commits, and I made several attempts at automating much of the process. Around March we started struggling with keeping development motivation up, and pace faltered, with Sporklin taking on much of the charge to keep work continuing. In June, we were about half way, and Bitcoin Core 0.11 hit release candidate, and at that point we realised this wasn't going to work. So, Dogecoin Core 1.10 is a rebuild. We've started with Bitcoin Core 0.11 as a base and then manually re-applied the Dogecoin changes. This makes a lot of sense, in as much as they're a smaller set of changes (and less invasive by design), but does mean that we risk losing subtle tweaks to the code (which is what the beta period is intended to help catch). Most of the changes have been totally rewritten to make them simpler to apply, and better fit in with the hugely revised code base. We also see a significant number of changes in the strings with Dogecoin, so previous improvements to translations cannot necessarily be used as-is, and when we hit beta we'll be looking for help with updating translations. The loss of motivation is something we need to be more aware of as a risk; while the Dogecoin developers are not doing this to try getting rich, that doesn't mean that there's no motivation required. We enjoy the challenge and opportunity to work with interesting technology, and based on that it's important that we ensure the work does have its interesting parts in amongst just getting stuff shipped. Looking ahead to future work:
We'll do a full rebuild once per year, potentially twice, to keep us close to the Bitcoin Core code and ensure compatibility.
In between these rebuilds, we'll merge in changes where feasible.
To avoid Dogecoin and Bitcoin diverging, we'll push new features and fixes into the relevant upstream project where practical. We avoid divergence because it makes it harder to update, and requires custom code to adopt Dogecoin compared to Bitcoin.
Dogecoin Core will be promoted as the reference base for other Scrypt-based altcoins. This happens already, and we get fixes from downstream (i.e. Fractalcoin caught that the fork detection code is too sensitive) as a result.
I know there are those who wish to see Dogecoin split further from Bitcoin, but there's just far too much effort being poured into Bitcoin, and too much available expertise from working with them, to ignore. On a related note, bitcoinj 0.14 now has all of the changes to make it work with the libdohj wrapper library. Patricklodder's been testing libdohj, and so far mostly it seems to work well (there's an issue with the advertised network protocol version that I need to fix, but apart from that so far so good). There's a similar model for python-bitcoinlib and python-altcoinlib, although I need to dust off python-altcoinlib somewhat. There's tons more I could write about HD wallets, user defined consensus or Ledger wallet support, but I think that's quite enough for today. There will be an interim update for Dogecoin Core 1.10 work around next weekend, hopefully a beta around the same sort of time, and the next full update post should be on the 23rd or thereabouts. Meantime, stay wow! Ross P.S. All of these posts go up on my site as well, if you want to read back at all: https://jrn.me.uk/
Of Wolves and Weasels - Day 102 - Weekly Wrapup #8
Hey all! GoodShibe here! Here's your week, all wrapped up in a bow! And for another Shibe's take on things, please take a moment to pop by and subshibe to http://www.dogecoinnewsletter.com/ - he's having his first moment of doubt as a writer (ah, I remember my first... don't worry, there will be many more!), so let's all give him a bit of encouragement, okay? ;D) Many thanks to all of the incredible Shibes who came forward to help with my first Pre-Weekly Wrapup Prep thread - I really appreciate the help! Announcements
[VeryMuchWow] - The first online/print Dogecoin magazine is out now! It's got an interview with me and a whole bunch of other great things inside! (Plus the art is incredible!)
[Savedogemas has finished payouts!] - It took a little longer than expected - and was a much bigger job than was expected - but it got done! Huge congrats to NeutralityMentality and his team - and our community who donated! - for proving that Shibes take care of their own. I hope those who've had less than nice things to say re: this initiative take a moment to make amends. It's important to doubt and to question but when we get it wrong, we need to make it right, okay?
Did I forget anything? Of course I did! Please let me know in the comments and I'll add it! It's 10:00AM EST and we're at 72.25% of DOGEs found. Our Global Hashrate is holding steady at ~59 Gigahashes per second and our Difficulty is bouncing between ~778 and ~904~ If you want to get yourself some DOGEs, now would be a great time to do it! Finally, if you'd like to help protect the Dogecoin network by Mining Defensively, to be there, helping to protect our Global Hashrate, no matter the cost, please join us here. And if you'd like to help protect the network but are unable to mine, there are still LOTs of ways to help! Please join us here! As always, I appreciate your support! GoodShibe
So there's been an unbelievable multitude of threads ranging from "Shibes, is Ð1 = $1 possible?" to "Shibes, Ð1 can never be $1, stop dreaming." first of all, never tell a shibe not to dream. second of all, much much more than the ratio of dogecoins to bitcoins to dollars determines the exchange rate of a currency, and that is the subject of today's shibenomics lesson. Everyshibe has probably heard of GDP, but to define it very quickly - the gross domestic product is the value of all goods and services produced in an economy over a period of time. Normally, GDP is calculated per year, but for the analysis in this article and dogecoin in general, i find it more constructive to think of GDP per day. Now, how can we possibly find out what the GDP of dogecoin is? The USD has a whole bureau of economic analysis to do that and they still get it wrong half the time... Herein lies one of the many beauties of the blockchain. The block chain is like a public ledger of every transaction in dogecoin, EVER - which means we can just find the last block with a transaction on Wednesday, January 15th, and the last block with a transaction on Thursday, January 16th, and every transaction in between is part of the GDP for Jan 16th. note: shibes already versed in economics will point out that some of these transactions may not be for goods and services, but rather conversions from USD or BTC, and some of them may be double counted because they are buying an ingredient for something they plan to sell later for more dogecoins - these objections are somewhat correct, but systematically overestimating GDP means you can still measure GDP change over time, which is what we're really concerned about, and conversions from other currencies are our equivalent of exports So, as of now, our GDP on January 16th was a whopping 46,793,497,531 DOGE ($18,078,761 USD). Before you object about pay-it-forward threads and tipping and such, let me remind you - tips are a micro-transaction for a service (the service of making you smile :) ) and pay-it-forward threads are the shibe version of state-sanctioned lottery - which is the service of gambling. Now, gambling and entertainment an economy do not make, but 18 million dollars is a pretty big deal. Only bitcoin, litecoin, and quarkcoin have higher GDPs per day than dogecoin, and among those only dogecoin has a reasonably sustainable average transaction value (~$200 vs >$8000). Ok, so now we know dogecoin has a GDP, and that shibes can feel pretty good about it. Even more impressive, dogecoin GDP has grown from $6.74 million on December 18th to $18 million today - 3.22% per day - at current growth rates, our GDP this time next year would be $1.78 TRILLION (11% of the US economy). Now this is probably unsustainable, but even growing at 20% of our current growth rate for a year would leave us only behind bitcoin in GDP per day. Now let's consider market cap - the first thing that is striking about dogecoin isn't that its 6th most valuable in terms of market cap - its that dogecoin is the only crypto who's GDP exceeds its market cap, and that too by a whopping 62%. This means that for every 1 dogecoin you spent today, 61.7% of that dogecoin was passed on, and then passed on again, and so on. The velocity of money in the doge economy is ludicrous, and it confers a high degree of stability unto our economy, so kudos all around! A fast velocity of money not only helps fight changes in prices, it also makes it possible to post very high GDP numbers without having a large monetary base. Apart from this, its also worthwhile to note that our market cap in USD has grown by around 3.6% per day, while the number of dogecoins added to circulation grows by around 2% per day - so despite all the mining, dogecoin has been appreciating in value quite rapidly in value. On a more theoretical note, it is worth spending a moment to consider PPP (purchasing power parity). In high school economics, PPP means that a big mac in the United States should cost the same amount of real value as a big mac in China, and that the exchange rates will move to reflect that reality. In reality, PPP is more of a goal than a law - it's pretty hard to buy a big mac in China and bring it to the United States so that you get your food cheaper at lunch. In cryptoworld, however, PPP is the law - a bitcoin must cost the same amount in litecoins, dollars, and dogecoins, and the exchange rates will change to reflect that. PPP has so far been strongly determined by the BTC, LTC, DOGE triangle, as there is still not a large volume USD/DOGE exchange to allow arbitrage between the USD/BTC/DOGE (arbitrage is the force that makes PPP a law). Thankfully, a DOGE/USD exchange is probably just around the corner, and so soon we should see DOGE/USD and DOGE/BTC stabilize a bit because of this. PPP also extends to the world of mining - a kh/s mined on one currency will try to be worth as much as a kh/s mined on another currency - the best example of this is multipool. Right now, it is highly profitable to mine dogecoins because of the strong economy & exchange rate and the low block difficulty, compared to other alt coins relatively weak exchange rates and higher difficulties. Each coin has a predetermined global hash rate it will support based on its coin reward and target block time, and uses the difficulty to keep the reward & timing schedule intact. What this means is that as more miners work on dogecoin, it becomes less profitable to mine doge unless its value relative to the other cryptos goes up - and this is the cause for the cycles of highs and lows we see in DOGE/BTC. These cycles will probably not stop after the February 14th block halving, but they will be occuring at higher and higher valuations. It's a point of shibe pride to mention that of all the cryptos, dogecoin probably has the least wealth concentration - the top 100 transactions in dogecoin are only 3.15% of the daily transaction value, whereas for other currencies that number can reach near 50%. In conclusion, it'll probably be disappointing to hear that I have no clue where DOGE/USD or DOGE/BTC will be in a week, much less when it will hit 1 dogecoin per 1 USD. What I can say, and what should be evident from the numbers, is that dogecoin is developing a strong economic foundation unlike any of the other altcoins, and is much less seedy than bitcoin's early economy. Some of the core difficulties of dogecoin going forward are going to be maintaining our ludicrous velocity of money, which means finding and developing new markets for tipping, diversifying our economy away from mainly tipping while keeping a focus on micro-transactions, and creating a more effective store of value besides hoarding coins in a wallet or giving them away in PIF threads and waiting for them to come back. TL;DR - TO THE MOON! statistics used in this article are available on: http://bitinfocharts.com/
Ever wonder what those numbers mean? The relationship between difficulty, shares, hashrate, etc. explained.
After being confused for a long time myself, I went and crunched some figures, and found out where all those numbers came from. To save fellow shibes from having to do the same, I'm making this guide. First of all, what is difficulty? It is a number d such that the expected number of hashes required to find a block is d * 232. That is to say, the individual probability of each hash finding a block is 1 / (d * 232 ). (You can read up on how a geometric distribution based on a Bernoulli random variable of probability p has a mean of 1/p.) So if the difficulty is 1, then a valid hash would require 32 binary zeros at the beginning (usually represented as 8 zeros in hex). If the difficulty is 1024, then 32 + 10 = 42 binary zeros are required. For a difficulty that's not a power of two, you're going to have an odd mix (e.g. the first digits of the hex must be less than 000000000c8.) Now how is difficulty calculated? For Dogecoin, difficulty is recalibrated every 240 blocks. It is adjusted so that a block would be found every minute, on average. Example: The average hashrate was 100 GH/s over the last 240 blocks. We want a block found every 60 seconds, or every 1011 * 60 = 6 x 1012 hashes. So d = 6 x 1012 / 232 = 1397, and the difficulty will be set to 1397. The pool difficulty (also known as share difficulty) is a closely related concept. It is up to the pool operator, but almost all define it as being difficulty * 216. That is, pool difficulty is a number d' such that the expected number of hashes required to find a share on the pool is d' * 216 (since 32 - 16 = 16). It is basically there for notational convenience, because no one wants to talk about mining at a difficulty of 0.000244 (translated to pool difficulty, that would be 16), just like how people use kilodoge or millibitcoin. What about a share? Pool operators may vary, but usually a share is defined as a valid hash at pool difficulty 16. Pools may set a pool difficulty that everyone mines at, automatically adjust pool difficulty for each individual miner depending on their hashrate (called vardiff), or allow users to set their own difficulty. They might even create different strata with different pool difficulty levels. A share at a higher pool difficulty is harder to find but worth more. Basically, if you're currently mining at pool difficulty 16 and switch to 32, you'll mine shares half as often but every share you mine is worth two shares. (Unfortunately, the definition of "share" appears to be overloaded - it can mean either each thing a miner submits to a pool or its equivalent for a pool difficulty of 16. It's like how a "standard drink" is 0.6 oz alcohol - if you had a 24 oz beer at 5% ABV, you could say you had a drink, but technically you had two drinks in terms of alcohol content.) A round is the period of time since the last block was found by a pool to the next time a block is found by the pool. Round shares are shares (i.e. equivalent shares for difficulty 16) that have been found by pool miners. Estimated shares is an estimate of how many shares it will take for a pool to find a block. This number is the same for each pool regardless of hashrate, and only depends on the current difficulty. It is equal to d * 212. Why? Note that a share at pool difficulty 16 is 16 times as difficult as a share at pool difficulty 1, and pool difficulty 1 is 216 times easier than difficulty 1, so the overall effect is 216 / 16. (PPS only: The baseline PPS rate is the amount a miner is paid for each share at difficulty 1; pools PPS rate is the amount a miner is paid for each share at difficulty 16. Pools PPS rate is calculated by dividing the block reward by the estimated shares. So for Dogecoin currently, you divide 500,000 by 5,645,699 to get pools PPS rate 0.088563.) The Bitcoin wiki has a page on difficulty, but it's somewhat technical and doesn't really talk about mining pools, so I created this post because I couldn't find anything better on Google and ended up using a bit of math and common sense to figure these things out. Though I do recommend reading it for the technically inclined. For other things like Prop, PPLNS, PPS, etc. there are many existing well-written resources, so I'm saving my breath. This page lists pretty much every single pool structure you might encounter. PPLNS (basic guide, advanced) is probably the most common but also somewhat difficult to understand.
Credit given where credit is due, this thread was my motivation for writing this. Also I didn't want to hijack someone else's thread via their comments. I have been trading in Doge for a little while now, which is a relative term considering Doge is a month old on Jan 6, 2013. I have made HUGE mistakes (like accidentally buying where I was selling, because I clicked the wrong thing). But, I have also gotten REALLY lucky with some amazing trades. Disclaimer: I am not working fowith Cryptsy. I am just a user and most of my exchange experience has happened there. This is also not a discussion of WHICH exchange to use, use the one you like the most. This is however, a discussion of how exchanging/trading works. Yes, Crypsty gets slow. Yes, I have had 3 hour lags getting Doge in or out of Cryptsy. Yes, I have had money "hung" up on a cancel order. It happens. This is a brand new industry as far as coin-trading goes and there is a ton of computation that is going on behind the scenes. I am also a little more forgiving than others. I also know that some people have had trouble with their support, but I have not. My rules of trading First Rule of trading: This is NOT a get rich quick scheme
You have to pay attention, you have to watch the market, you have to spend a lot of time on this and be patient. If you walk away with Doge in play, you'll get screwed. If you jump in at the wrong time with out doing the math, you'll get screwed.
Second Rule of trading: Don't gamble what you cannot afford to lose!
This is super important, because while I was trading someone came in above or below me and totally hosed me a couple times. I have learned to trade in smaller amounts. This means less benefit in the end, but less risk as well. I know Cryptsy isn't well loved here, but I have used it as well as 3 other exchanges and I like it the best. The reason I stick there is that you can see "nearly live" what is going on. I say nearly, because there are lags. However, most of the perceived lag tends to be trades that are smaller and that auto-trade away before they are worth posting to the buy/sell orders list. Get a feel for the room before you jump in whole-Doge. Buy and sell small amounts, like the minimums of the exchange, before you do anything drastic. This IS gambling. It WILL bite you in the ass. Trust me, I have had some big losses already.
Third Rule of trading: Buy low, sell high
Always, always, always.
Fourth Rule of trading: Pay attention to fees
Cryptsy charges .3% for selling and .2% for buying. This is a total of 0.005 or .5%. This factors into EVERY trade I make. Let's go with some numbers, see the screenshot here for examples. These are the TIX/LTC numbers for right now, but I will use Doge/LTC as the example. If you are selling Doge at 222, then to get more Doge than you sold, you have to buy at LOWER than 222/1.005=220. I use 222/1.001=219 to make sure I am always making more than the fees on every trade. Right now, since the highest buyer on the sheets is at 217, it is possible to make some extra Doge if you can buy at 217 as well.
Fifth Rule of trading: Pay attention to the direction of the market
If the market is going up, you need to be careful about selling because the buyers are going to buy higher in 20 seconds than they are right now. If the market is going down, you need to be careful about buying, because the sellers are going to sell cheaper in 20 seconds than they are right now.
Sixth Rule of trading: Patience
This is a complete reiteration of Rule #1. You MUST BE PATIENT. If you are not, then you will lose Doge. The exchanges are often not immediate, even when there are obvious trades going on. This is because they are doing a ton of computation that you can guess at (because you can see what's trading) and computation of what you can't see, like that guy who buys 10 Doge at 300 when the price is 222. Like I said before, not all the buy/sell orders make it to the list, because not all of them are significant enough to warrant updating your view. Think about it this way, if Cryptsy moves 12MM Doge in 10 minutes and less than 20% of those are "in the middle trades" between the highest buy and lowest sell, that means that 240,000 Doge moved in hte middle. Each of htese could be anywhere from 100-100,000 Doge at a time. It would take a ton of refreshes to your view, which is servecomputationally heavy as well as heavy in your browser
Seventh Rule of trading: Don't be afraid to cut bait. It's also ok to not cast at all.
If things are going your way, because the numbers aren't working or someone just put in a HUGE buy order above yours, it's ok to back away for a while. It's also ok to not jump in at all. You don't have to trade right now. If the numbers aren't right, don't trade. If the Doge are moving too fast, don't trade. If you're not 100% comfortable, don't trade.
Definitions!! Arbitrage: trading one currency into another and then into another in order to have more of the original currency. i.e. Doge->BTC->LTC->Doge via the Doge/BTC, then LTC/BTC, then Doge/LTC markets "Buy low, sell high": A saying that comes to mean that if you sell for more than you buy, you profit. Also, that if you buy for less than you sell, you profit. This is the basis for trading on an exchange. Buy Order: "I want to buy of Doge at of Doge/BTC" example, I want to buy 10 Doge at .00000025 BTC. Cryptsy: Is an exchange, there are others in the right sidebar of this page. I use Cryptsy as an example, because that's where I exchange my coins Doge: Such wow. Doge/BTC: the value of one Doge in BTC. At the time of writing this, it was .00000025 BTC for one Doge Dumping: The act of getting a currency and releasing at whatever price you can get for it right this second. Many auto-exchange mining pools will dump mined Doge (or any coin) for BTC as soon as a certain limit you define in your mining account is reached. Much of this is done for profit and based on the belief that BTC is the end-all-be-all, much like USD has been known for a while in the paper-money world. An Exchange (noun): A place you can put your currency and trade it for another currency. Exchange (verb): to trade one thing for another, in this case Doge for BTC or Doge for LTC Fees: There will always be fees, this is how exchanges make money. The total fee for one round of buying and then selling or vice-versa on Cryptsy is .5% or a multiplication factor of .005. Fees for buying on Cryptsy are .002 (.2%) and selling are .003 (.3%). Mining: using your computers processor or graphics card to solve big ass math equations to earn a crypto coin. Orders: Requests to buy or sell something in the exchange Pool: A bunch of people working together to mine at the same time Sell Order: "I want to sell of Doge at of Doge/BTC" example, I want to sell 10 Doge at .00000025 BTC. "To the moon": is a play on the phrase "shoot the moon". And a goal that seems insurmountable, but is totally possible since it's been done before (aka Bitcoin). Also, where Doge is going. Tools I keep nearby:
A google spreadsheet to keep track of where I am and whether I am actually gaining ground or not. Sometimes, with lots of quick trades, it's worth stopping to count everything up. This spreadsheet will take into account the current trade values of Doge/BTC, Doge/LTC, and LTC/BTC. While I calculate USD, I am more interested in the total number of Doge that I have.
When I sit in one exchange for a while, like Doge/LTC, I will keep a second tab in my spreadsheet with calculated list of values for 1022, 1023, 1024, etc. (this is the current trading values with the decimal and zeros removed). The first column is the "number I am trading at". The second column is, "If you sell at column 1, you must buy below this number". The third column is, "If you bought at the rate in column one, you must sell above this number". Column one is auto-incremented by 1, (=A1 + 1, then fill down). Column 2 is column 1 divided by 1.01 (=A1/1.01, then fill down). Column 3 is column 1 times 1.01 (=A1 * 1.01). Screenshot: http://imgur.com/Up7r2ra
A calculator. Sometimes it feels good and can be faster to calculate /1.01 there, than it is in a spreadsheet.
I hope this helps! Also, please tell me what you think and I'll update with anything I didn't add above. If something is wrong or you look at it differently, let me know!! Edits:
added definitions, alphabetized them.
cleaned up some information that was written quickly and not making sense to some users.
It's funny, you know, because while some of the biggest voices in financial news (including an article I read on FORBES) are suggesting a strong potential danger that the U.S. Feds may try to abolish the BITCOIN by declaring it a "money-laundering" scheme, at the same time, the BITCOIN is actually widely being traded on the U.S. commodities market (e.g., NADEX). Therefore, the fact that BITCOIN is apparently being regarded so highly as to allow its trading to take place on the exchange market would make it seem far from even being remotely likely that the government is effectively going to declare it as being illegal. It can nonetheless be assumed the government is looking for ways to "regulate" it, however, and trading it over exchanges is evidently one way of providing for some effective regulation. But I believe it's a falsehood to suggest that the BITCOIN (or any other altcoin) for that matter can reasonably be regarded as a money-laundering scheme in and of itself ANYMORE than paper money - or even gold bullion - can reasonably be labeled as such. After all, it is written right on every currency bill in circulation in the United States that, "This note is legal tender for all debts public and private." The part about the "private" bit, despite being printed on bills forever, can be said to be something of an unspoken misnomer, since obviously the government wants, expects and actually mandates (via the IRS) to report monetary profits and large scale monetary transactions even where such profits and transactions are considerate of paper money. They don't want people to keep cash transaction ledgers a secret; and by the same token, you can bet they don't want people to keep BITCOIN transactions a secret either. But in the first place, and when it comes to a functional basis of what has made money-laundering possible (e.g., laundering drug money) in the first place, it really is COLD HARD CASH from the outset of monetary history. Being able to move large amounts of cash money around surreptitiously and cloak its origin and destinations in different ways simply makes it feasible to "launder" the money. Of course, no one is going to suggest that use of paper money in and of itself amounts to a money-laundering scheme anymore than could be said of gold coins, but rather where it is the essentially "anonymous" feature of paper money (and gold) that makes it practical to use in the interest of conducting laundering schemes. In other words, paper money and other forms of hard currency can be used as "tools" to facilitate laundering practices, but that the fact of any hard currency is not in itself a money-laundering scheme. Also, there is nothing illegal about paying off debts, or buying merchandise or anything else using gold coins, excepting of course that it is simply not practical for mostly anyone to be carrying around large amounts of gold. Paper money is lightweight and more or less easy to conceal, but perhaps easily the one thing nowadays that would drastically trump paper money in view of its physical characteristics is that of digitized "cryptocurrency," since a person could literally hold billions or hundreds of billions of dollars worth of the stuff on a single USB flash drive, or on a smartphone, etc. Naturally, in these respects, the governments of the world are not going to want to let this digital currency issue get ahead of them too far before they can figure out a way of effectively more or less regulating the agenda at least in the short term. With that being said, it is at the same time where I tend to fully expect that the U.S. government particularly wants to be careful in not jumping the gun, so to speak, when it would come to overly harsh restrictions, much less than to say outright criminalization, being placed on use of the BITCOIN, because of a case for which lawmakers would no doubt view it in their best interests to understand the overall potential viability of this new commodity from a technical standpoint; and presumably for which they would want to understand it in a way that is beneficial to some long-standing alleged goals on the parts of governments around the world to one day be able to completely abolish paper money and move over to a completely digital form of currency transaction system. After all, with no paper money out there, and also no other practical means of conducting large-scale money-laundering operations, fully digitized money transactions would largely, if not completely, destroy the underground economies of narcotics' trafficking, weapons' trafficking and so forth around the world. In summary, though, to all of this rhetoric I'm making here, it occurs to me that the way in which the "DOGECOIN" cryptocurrency particularly is initially being set up in an operational framework is such that the digital model of the DOGECOIN might actually end up being the catalyst used for eventual implementation of an elitist worldwide currency and, hence, fulfillment for the dreaded sometimes-religious prophesy of a coming -- "NEW WORLD ORDER" and World Government! With all of this in mind to view what many people will likely perceive as being far-fetched and fanciful speculation on my part to consider the potential future for the DOGECOIN, here's a Wikipedia article to read that will, among other things, offer to enlighten you about how on the one hand the Chinese government has worked to effectively criminalize use of the BITCOIN, but on the other hand where that same government is ACTUALLY seen to be "embracing" adoption of the DOGECOIN... https://en.wikipedia.org/wiki/Dogecoin
Coin-a-Day Jan 3rd Well, it's been more than a month since my last post, so I figured it's time to finally do this. I'm barely updating these, but I think it's somewhat interesting to see the changes that have happened over the almost half a year since I first wrote these. Welcome to the third Coin-a-DayCoin-a-Week post! So far in this series we have talked about bitcoinbitcoin and dogecoindogecoin, which are proof-of-work coins. Today's coin is Peercoin (PPC), which is a "proof-of-stake" coin (actually a hybrid; more below). Summary • ~22 million available currently ; ~35 million in 2025, ~50 million in 2045, 1% annual inflation permanently  • All-time high: ~$7  • Current price: ~$0.50; ~0.0017 BTC$0.30; 0.00128 BTC  • Current market cap: ~$10.9 million $6.6 million  • Block rate (average): 10 minutes  • Transaction rate: 520 408 transactions in the last 24 hours, estimated ~$213,000 $83,600  • Transaction limit (currently): 7 transactions / second (?)  • Transaction cost: Fixed at 0.01 PPC edit: per Kb  • Rich list: Top 100 addresses hold 59.25% 59.52%  • Exchanges: BTC-E mostly; BTC38 (Chinese); some volume on Cryptsy, The Rock Trading, and BTER as well  • Processing method: Hybrid; proof-of-work and proof-of-stake • Distribution method: proof-of-work block rewards and 1% inflation through proof-of-stake • Community: Moderately active.  • Code / development: https://github.com/ppcoin/ppcoin ; appears inactive, last release in April, last commit five months ago; however, developer Sunny King continues to give weekly updates and has announced an upcoming "cold-minting" feature  EDIT: Active pull request in progress. pull request; announcement; I was informed about this from the comment below; thanks Thireus ! Latest 0.5 version will be a mandatory upgrade with a two month release window.  • Innovation or special value: First coin with proof-of-stake Description: So far we have covered two proof-of-work coins. This was the original type of coin. Peercoin introduced the concept of "proof-of-stake", where authority to generate a block was determined based on a brute-force hashing to reach a value less than a certain amount. In Peercoin's proof-of-staking, there is only one to check per unspent wallet-output per second, so there is very little demand for processing power and energy. The difficulty is decreased with increased coindays . This model is argued by Peercoin supporters to be more efficient, since it obviates the need for a hardware arms-race and allows transaction processing by all stakeholders. The incentive for the stakeholders to "stake" (process transactions through proof-of-stake) is two-fold: first, in order to collect their 1% per coin-year reward, and second, to support the network they hold coins in, since the value of the coin is presumed to be related to the stability and reliability of its network. There are a number of attacks which are argued to be possible in proof-of-stake which are not possible in proof-of-work . There was a vulnerability which allowed generating a larger number of proof-of-stake blocks with a very small stake which took four months to close after public disclosure . I wish I could provide a definitive answer about the security or vulnerability of this coin, but I am simply unaware of a good source at this point . I have not found a "smoking gun" critique of the current system, but absence of proof, particularly when my "research" (googling) is so limited, and my exposure is so brief, is absolutely not to be taken for proof of absence. Today's challenge will focus on the security of Peercoin, and there will be a small reward for the best defense and the best critique. Compared to the question of "is it secure?", I think the rest of the nuances like price history are relatively insignificant. In general, I expect that secure coins will continue to be transacted at some price level, and that they will often share a certain level of correlated price. Remember that I am not giving advice, but that's my take on it. So if there is no vulnerability to proof-of-stake, I expect it will continue to exist. And just as bitcoin has a strong place from being the first and having an active community, I expect that Peercoin would continue to have a place as the first proof-of-stake along with its smaller but also active community. I had my concerns about the security resolved when this was posted. Like a whiny chump I'd gone through and deleted all of my stuff in a fit of pique, but the useful comments by TotalB00n are still there and may be useful reading. The inactive development may not be an issue for now if there are no serious threats to Peercoin. Additionally, its blockchain is quite small, about 1/3rd of a Gigabyte currently, so the major feature of bitcoin's latest release, parallel block downloads, may be less relevant for peercoin. [Note that the edit above on the code section is from the original time around. I'm too lazy to even look up whether or not there has been further development since, but it was at least somewhat active before, and perhaps didn't really need much.] Community Peercoin's community on Reddit (/peercoin) is relatively small, with less than 4k subscribers and no more than a couple posts a day. However, it appears on-topic and high-quality. http://www.peercointalk.org/ looks active and significant. It is not comparable in size to a central hub like bitcointalk, but it is by no means dead. There are additional community links on peercoin.net which I haven't explored. Footnotes  http://coinmarketcap.com/currencies/peercoin/  https://github.com/ppcoin/ppcoin/wiki/FAQ  http://www.cryptocoincharts.info/paippc/usd/btc-e/alltime I couldn't find anything just stating the number. And the UI here is terrible. But this approximately matches the coinmarketcap ATH in BTC with the BTC/USD at the time.  http://en.wikipedia.org/wiki/Peercoin#Confirmations ; I wasn't sure if this accounted for PoS accurately as well, but given the last few hours shown at https://bkchain.org/ppc it does appear to be close ; don't ask me how it works, haven't taken the time to grok the whitepaper in detail yet ()  https://bitinfocharts.com/ppcoin/  I wasn't able to find a source addressing this. I'm presuming that since it's based on bitcoin and has 10 minute blocks, that it also shares the 1 Mb blocksize limit and that transactions are about the same size and thus the same 7 transactions / second current limit applies. I could absolutely be wrong about this; if you know better, please let me know and I will update. Given that this allows 604,800 transactions per day, and there weren't 0.1% as many transactions in the last 24 hours, I think it's safe to say this isn't a limiting factor for peercoin in the foreseeable future.  http://coinmarketcap.com/currencies/peercoin/#markets  Not as active as doge or bitcoin, but it looks like there's activity on http://www.peercointalk.org/, and /peercoin is quiet but not dead.  http://www.peercoin.net/assets/papepeercoin-paper.pdf ; also available in many other languages (http://peercoin.net/whitepaper)  http://www.reddit.com/CryptoCurrency/comments/2r6sqb/section_of_paycoins_source_code_designating_a/cnd096x110101002 makes allegations along these lines. However, none of the critiques seem to be relevant and aware of the current Peercoin code. The claim is made that it was made centralized but I'm not aware of a Peercoin source that seems to make this claim. There are probably far better critiques and defenses of the security of Peercoin's proof-of-stake out there. I don't know how to best find them. This will be the topic for the challenges for this article.  disclosure; acknowledgement; fix  I have heard claims about "nothing-at-stake" attacks, which are based on the idea that a user might have stake in the system, then get the stake back, sell it, and then try to make their own chain building off the point where they had stake. This seems conceivable to me, but I do not know anywhere near enough to be able to make a reasonable argument one way or another. Unfortunately, most of the discussions on Proof-of-Stake seem more about ... well, there's no way to phrase it politely, but they don't seem to be reasoned consideration of the merits but just static. http://www.peercointalk.org/index.php?topic=2351.0 - This is an example of a critique which is shot down. Is it valid? You decide. From reading their view of it, it sounds like not.  http://www.reddit.com/peercoin  I found this relatively late in my process glancing over /peercoin. http://www.peercointalk.org/index.php?topic=3733 The details of this feature will be considered out-of-scope for this article, already taking longer than I anticipated (as usual).  https://www.peercointalk.org/index.php?topic=4107.0 Additional Reading • http://www.peercoin.net - main site; informative and useful links • /peercoin - somewhat quiet but still active and informative • https://bitcointalk.org/index.php?topic=793142.msg8933791#msg8933791 - Peercoin discussion thread • Peercoin whitepaper - (other languages available) • peercointalk.org - Main discussion forum Daily challenge ~~Every day I post a challenge worth about $1. The first two day's are still unattempted. Yesterday's has been awarded. Today's challenge focuses on Peercoin security. A changetip $0.50 tip will be awarded to the comment which in my opinion provides the best information about vulnerabilities in Peercoin's current consensus algorithm / implementation. This may be a link to a source that provides this information or a comment, but a comment referencing fixed problems or simply asserting issues without support will not be accepted as qualifying. On the other side will be a 1 PPC reward sent to the Peercoin address of your choice for the best argument supported with evidence that Peercoin's consensus algorithm is not vulnerable to any attack. This is a very broad claim, and I wouldn't know how to support it myself, but that's why I'm throwing it out there for discussion. Making an argument for both sides is allowed and encouraged.~~ [I don't remember if I ever paid up on this. I think I might owe TotalB00n a couple PPC...] Donations and Disclosure It has come time again for me to note that I am not an authority nor should my words be used for anything other than entertainment. I am not providing investment advice and you should do your own research independently before you make any investment decisions. Cryptocurrencies may lose all value from technical flaws or simply a loss of faith in their value. Store your treasures in heaven, not on earth nor even in a blockchain. Be gentle and loving in deed and in thought. I currently hold about 17 PPC. If you would like to donate PPC to me directly, you may do so at: PDcpAFGWEAJDTey6ghY4FRvvphXv9zkjmn Thank you all for reading and all of your support! This has already been a great experience for me and I'm looking forward to the excitement still to come. Well, it doesn't get much lazier than that. Apparently PPC has dropped in price rather significantly since January. I don't know any of the news on it. Informative, eh? ...okay, I'll do a mild amount of "research". One moment. Well, they have a new release coming out.  But I don't see anything obvious from a quick glance at top stories in that subreddit over the past year to see why it crashed over the last five months. So...hey, let's go really lazy. Rather than me giving you the answers, why don't you tell me wtf happened here? xD Up next: Nyancoin!
BOOM! In case you've been living under a rock for the past 8 hours, DOGE/BTC briefly traded above 70 satoshi. In other news, the number of "stop day trading" and "stop talking about value" posts is at an all time high, but I'll get to that later. At the time of writing, DOGE/BTC is rapidly crashing back down, probably because the saturday morning hangover is kicking in, or because every shibe and his cousin with a single dogecoin is tempted to cash out at this great sell price. If you were awake and managed to sell at that ridiculous rate, many kudos to you, shibe. You should probably keep that position open at least until we're approaching 55 satoshis, and then evaluate how lucky you feel. If you're like me and are nursing a blow to your pride after having cashed out sub-65 before the massive bull run, let's all hope all we have to nurse is our pride and that DOGE/BTC returns to a more sustainable valuation. The 55 level may be tested again, but once all the dust settles we may find there's a new normal in DOGE/BTC, and young shibes will laugh at you and call you a geezer when you say "I remember the 25 - 39 satoshi days". If you're looking to place a buy order hoping to get a second wind wave back to the 70 level, don't hold your breath. The first buy entry in the deal book above 20 BTC is the massive 80 BTC entry at 46, and the only one that even comes close is an 18 BTC entry at 64 satoshis - this market is probably heading south, fast. Save your BTCs for when the shibes are depressed and moping, that's usually the best time to buy. If you're contemplating selling, you've got to do some soul searching - yes, it's probably possible to walk away from this having sold right now at 66, and exit at the end of a bear run at a price between 55 and 45, but there's no small likelihood that prices could about face at 60 and you barely walk away with a 6 satoshi gain (still quite a bit, but not the big kahuna that was buying at the low 50s yesterday). Even worse, there might ACTUALLY be a second wind wave, and then you could get caught pissing into the wind as prices hit 70 or even 75 again (this is probably the least likely scenario, but you should always employ proper risk management, which includes planning for every contingency). All in all, DOGE/BTC has been highly volatile for the past 3-5 hours, and wiser shibe than I have probably decided to take the day off and wait for markets to calm down. It may bring a smile to your face to recall that just 24 hours ago we were suffering from cabin fever. I told you there would be dancing :P Finally, I just wanted to mention the "/bitcoin is for trading, /dogecoin is for playing" and "daytraders are uptight wall st robber barons that suck up the fun". These statements are possibly true, but I'd like to think they're not. I've felt that /dogecoin is a place for all thoughts related to dogecoin, be they marketing ideas, trader talk, or just funny/awesome images, like the support our miners poster. However, I must insist that daytrading and valuation are integral services to the /dogecoin community, and possibly to the doge economy as a whole. Regarding daytrading - Contrary to popular belief, day traders suck volatility out of the market (not fun and not stability). Riddle me this - if a day trader wants to make a profit by selling doge, he definitely can't sell doge when its low, correct? He'd have to sell when its high, and buy when its low - in essence making a box around dogecoin's stable, "true value". When the market value tries to break the box, trading activity slows it down and prevents it from going further (anyshibe get the thresh analogy here? :D). However, when the market decides on a direction and wants to set a new true value in stone, a day trader must yield and let the market value pass, otherwise the sheer force of the market movement will wipe out the trader. Regarding valuation - like it or not, dogecoin has become more than a joke coin, it has a real economy, is used to buy real goods and services, and mining it can generate a lot of cash (almost $360,000 daily just from the 720 million new dogecoins mined per day). Estimating its value is a natural and necessary part of business, and it's next to impossible to conduct business affairs if you don't know what things are worth. It may be true that there are a plethora of dogecoin valuation threads, but please have a bit more empathy for shibe that just started mining and hit their first 100 dogecoins, and are now starry-eyed thinking when dogecoins are worth $12.30, they would have made $1,230 dollars. Everyshibe went through that phase, and everyshibe wanted to talk about it with other shibes. Both of these actions help advise shibes in the /dogecoin community, and while decisions are solely the responsibility of the shibe deciding them, advice is never unhelpful (if its wrong, just do the opposite the next time that shibe advises you!). More importantly (and more meta), daytrading is one of the few geometric returns available to shibes right now (what I mean by that is you can calculate your income as % gain, rather than as ___ doge gain). Geometric return is a core part of economic growth, and while day trading is net zero sum, it's one of the few methods that wealthy shibes can use to compound their wealth. I know this last sentence sounds particularly dirty, and believe me when I say I'd rather wealthy shibes begin constructively investing in the doge economy (say with a mining consortium. But until we develop publicly financed investment opportunities for shibe and investment markets to make those opportunities available, there's really few other options with regards to using dogecoin as capital to generate returns with. TL;DR - the global hashrate is too goddamn high, we're going to the moon so fast its hard to make money on it now; daytrading is k, and everyshibe gets greedy once in a while Disclaimer: I am not psychic and do not actually know where the market is going; I'm pretty sure the market doesn't know where its going either (except TO THE MOON!). Please do not base your trading decisions solely on the above analysis, and never trade more than you're comfortable losing. Finally, please do not hate/sue me if trades don't go your way, but if they do go your way, it was totally because you read this article :) If you're looking to learn how to trade or just want a quick refresher, check out my ongoing series, or if you just want to subscribe to these market analyses check out DogeTrader.
A Quick primer on the life of a crypto currency (or why you shouldn't worry about the future of Dogecoin).
Hi Everyone, Before I begin, I want to make a couple of things clear. Firstly, the reason I've written this is because I've been seeing a lot of people discussing the future of Dogecoin - block rewards, algorithms, etc. but there seems to be a lot of misinformation going around and it's causing people to worry unnecessarily. Secondly, I am by no means an "expert" at all. I am a software developer by trade and I'd like to think that I'm fairly good at my job, but I am not a cryptography expert (though I do deal with it a lot) - so I welcome people to criticise the piece below and I'll make amendments where necessary. I'm going to keep it fairly high-level though, as I want everyone to be able to understand it. Anyway, let's begin! The Lifecycle of a crypto coin Firstly, what do I mean about "Lifecycle"? Well, as you probably are aware, it's incredibly easy to create your own crypto currency. The source code to other coins is readily available on github and it requires little more than changing a few parameters here and there, then building it. That's it. Your coin has been born - but it doesn't do very much, it doesn't have any "value" and no coins even exist yet - not even digitally - you need to get people to mine it and use it first. Step 1: The Launch That's when you "launch" your coin. Dogecoin was officially launched on December 8th, 2013. The Launch is all about publicity - getting people on board to mine the coin. It's a bit like pitching an idea to get investors, except the investors are people like you and me who think the currency has legs and might one day be valuable. People will start mining the coins, based on the parameters you've set during your initial preparation. Step 2: Mining When you first launch your cryptocurrency, there are no coins yet - they need to be mined. But how do you decide how many coins to produce and how fast to produce them? This comes down to the block reward - which you've probably heard about by now. In simple terms, every cryptocurrency has a kind of infallible log book called the "block chain" (And you can see Dogecoin's here: http://dogechain.info/chain/Dogecoin). Literally every single transaction made is recorded in "blocks" which are calculated roughly every minute. Someone needs to dedicate computing power to calculate these blocks, which verify that transactions have actually taken place and as a reward for their efforts, they get the "block reward" and the transaction fees associated with that particular block. Remember this, because we'll come back to that later. This is why mining is important - it's not just about making coins, it's about keeping the network going, it's mutually beneficial to both the miner and anyone sending Doge to someone else. Dogecoin has a randomised block reward, each block generates between 0 and 1,000,000 Dogecoins. This does mean that some blocks are more valuable than others, but it averages out over time. There's a catch though - we can't just keep indefinitely producing millions of coins, that's actually a bad thing. The currency is valued as a whole, which at the time of writing is just shy of $50Million for Doge - so if we pump in billions of coins, the value won't go up, that $50million will just be split into smaller pieces (Here's a side point though: People are claiming that Doge is crashing because they've seen the value per-coin drop, but the actual value of the currency has been fairly consistent - worth keeping in mind for what's about to happen next). At some point, we need to slow down the production of those coins so their value ultimately stays high - which is why the "block reward" is about to soon halve to between 0 and 500,000. This is likely to occur on February 14 and again at several other points during the year until the block reward drops to 10,000 coins per block. This block-reward reduction is a crucial stage in any cryptocurrency and Doge is no exception. To put into perspective what this means, by the time February 14th comes along, we'll have mined over half of all Dogecoins that will be mined this whole year (Approximately 50Billion). From this point next year, it'll take a further 10 years to mine another 50billion Doge from block rewards. But what happens after that? Do we just stop and go home? NO! Step 3: Transactions The mining stage of a cryptocurrency is just the beginning. It's sometimes referred to as "minting" and that's a one way to look at it - we're pushing coins out the door faster than people can spend them, now it's time to actually use them (though be aware, that in other cryptocurrencies, "Minting" and "mining" are two separate things). As the block rewards get reduced, the currency as a whole should become more stable and less prone to "fluctuations". Remember, though, that even physical currencies will fluctuate over time and just because Doge drops a few points one day doesn't mean the end of the world. It'll pick right back up soon enough. However, we've now reached a stage where most of the coins have been mined - so what's in it for the miners? Why would they continue calculating blocks if they're getting less and less from it? We need them to process transactions or the whole currency stops, so where's the incentive? Think back to what I said earlier - remember, they don't just get the block reward, but they also get a chunk of the transaction fees as well. At this stage of a cryptocurrency's life, people should be using it more and more. More transactions means more transaction fees - note, the fees aren't going to increase, there's simply going to be more of them. In the physical world, we are already used to this - any time you use a credit or debit card, there is a fee involved. In some places, this fee is added to your bill, in other places the merchant absorbs it so you never see it - but it's there. This might seem like a disadvantage in the cryptocurrency world, having to pay a small amount just to send some coin, but this gives people a reason to continue mining and the fee itself is relatively small. If all goes well, the sheer volume of transactions will give enough reward to keep miners happy and potentially even exceed the block rewards themselves. This is when Dogecoin will have "matured", this is when it will stabilise and when we can really go to the moon - and you can help! You can help! Okay, I have a confession to make - I didn't just write this to clear the air on how Dogecoin will evolve. I wanted to get an important message out - a cryptocurrency is worthless if people don't use it. Dogecoin is using a much more accelerated process than Bitcoin and Litecoin, whose Block Rewards halve at a much slower rate. Soon enough, at some point this year in fact, we will be in uncharted territory - we will have a fully established, mature crypto currency, more mature than any of the competition. For Dogecoin to really stand on its own 2 feet 4 paws, we need to make lots of transactions - and the good news is, we are. We're actually beating Bitcoin by a huge amount and if we keep that up, we really will go to the moon. So use your Doge! Even if you're a poor shibe, with only a few thousand doge who can't mine, tip your reddit heroes, send a doge or two when you can and don't be shy about spreading the love. Every single time you use Dogecoin, you make it a little bit stronger. Thank you. EDIT:
GAME OF NYANCAT, Episode 4... Thousands of Nyancoins to win this weekend, for free! Choose your kingdom, choose your job, and claim your share of the treasure: Let's make this the biggest game yet! (28 points, 274 comments)
I want to extend a huge thanks to Phecalfeliac who has successfully given us our very own tip bot! (nyantip) Please post in this topic so we can all tip you our thanks (with your own bot). (23 points, 80 comments)
We are going to 500 subscribers this weekend: I guarantee it. Nyancoin has exploded, and I just want you to look at how far you've come in just 7 days. (23 points, 34 comments)
Prepare to play... GAME OF NYANCAT. The Kingdom that wins will split a 1000 Nyancoin bounty, and all players are eligible for random tips. (22 points, 63 comments)
GAME OF NYANCAT, Episode 2 (1/27/14)... Play NOW for free and win free Nyancoins! Every player will get tipped coins, and the Kingdom that wins will split up to a 1,000 NYAN treasure! Let the quest begin! (21 points, 73 comments)
GAME OF NYANCAT, Episode 3 (1/28/14)... Play NOW for free and win free Nyancoins! Every player will get tipped coins, and the Kingdom that wins will split up to a 1,000 NYAN treasure! Let the quest begin! (20 points, 60 comments)
A generous Nekonaut just donated almost 1 BTC to Cryptsy Votes,that made us be the 7th place there.Our community must do something to help our little nyancoin added on Cryptsy,we deserve that!!If 1/5 of Nekonauts(nearly 200) donate 0.01BTC each to Cryptsy will let us achieve this goal! (18 points, 22 comments)
GAME OF NYANCAT, Episode 4... Thousands of Nyancoins to win this weekend, for free! Choose your kingdom, choose your job, and claim your share of the treasure: Let's make this the biggest game yet! by americanpegasus (28 points, 274 comments)
Nyancoin V 1.2 Out Now! Kimoto Gravity Well Implemented! MANDATORY UPDATE by nyancoin (28 points, 28 comments)
This typically won't take more than 5 minutes. Then your wallet is ready to use. 3. Copy your public address to send Dogecoin to your wallet. ... For example, if you live in the US and want to buy $20 worth of Dogecoin, you can purchase $20 worth of Bitcoin, then trade it for Dogecoin. Be sure to factor in fees for your transactions, though, or you'll end up coming up short. Tip: Normally you ... Dogecoin was created by programmer Billy Markus from Portland, Oregon, who hoped to create a fun cryptocurrency that could reach a broader demographic than bitcoin. In addition, he wanted to distance it from the controversial history of other coins, mainly bitcoins. At the same time, Jackson Palmer, a member of Adobe Systems' marketing department in Sydney, Australia, was encouraged on Twitter ... How much was bitcoin worth in 2009? ... By the second day, $36,000 worth of Dogecoin was donated and the Dogecoin to Bitcoin exchange rate rose by 50%. No more than 21 million Bitcoins will ever be created. There are currently more than 2000 cryptocurrencies. Interesting new articles. Timicoin is a cryptocurrency developed by the Timi Group Inc. company. The company’s aim is to establish a ... However, you can lower the charges to less than 0.10% for the maker and 0.20% for the maker if you trade Dogecoins worth more than 2,400 BTC. The exchange lists very many cryptocurrencies that allow users to always have a profitable option to jump to. You could opt to pair Dogecoin with the leading cryptos such as Bitcoin or emerging but stable coins. In addition to the high cost of using the ... Comparing Dogecoin to other cryptocurrencies like Bitcoin, BlackCoin, Dash and Litecoin we see that the coins with funny shiba inu demonstrate very good results. For example, they are accepted by more than 200 big online sellers and their number is growing.
Dogecoin Was Created As A Parody, Now It's Worth More Than $1 Billion CNBC
Show more Show less. Loading... Autoplay When autoplay is enabled, a suggested video will automatically play next. Up next Dogecoin Was Created As A Parody, Now It's Worth More Than $1 Billion ... Follow @freddysmindset instagram To open Robinhood receive free stock click the link: https://join.robinhood.com/freddye19 Get 10 worth bitcoin click the lin... To Purchase Dogecoin or You now have a claim to a stock like Apple, Ford, or Facebook. In order to keep this claim to your stock, sign up and join Robinhood using my link. To get clarity to more such concepts, Buy the Book::“BITCOIN BASICS” LOGIC AND MGIC OF DIGITAL GOLD” :: https://amzn.to/2Icrb9O This Video is a discussion on... One of the Dogecoin founders told a cryptocurrency news site that the token's rise makes him worry about market excess. » Subscribe to CNBC: http://cnb.cx/Su...