Last updated on January 2nd, 2018 at 12:00 am
Earlier today, Twitch.tv announced, via a twitter post, that they will be accepting Dogecoin, the famous crypto-currency based off a meme, for their “Turbo subscription” plan. The Turbo subscription removes adds, adds new chat features, and increases video storage for your broadcasts. The subscription plan, at current prices, costs around 20,000 Dogecoins.
Twitch.tv is the most popular live video streaming service on the internet. It has hosted major gaming events that often have more than 500,000 people viewing at once. On top of that, the site allows anyone to stream live video to the world. Users love the site because they can interact with the streamer in real time, unlike YouTube or TV.
Twitch.tv is home to numerous professional online video streamers, who like their YouTube counterparts, make their living off the site. They currently can’t be paid in Dogecoin, and Twitch has announced no plans yet to let them do so, but it is always a possibility that this will be an option in the future. This is by far the biggest company to ever accept the joke online currency, Dogecoin. Dogecoin’s joking and lighthearted community might have a big reason for this, as it fits with the usually young and fun loving video game demographic.
Twitch is owned by the gigantic online retailer, Amazon, as Amazon bought the company for 970 million dollars two months ago. Amazon has been urged to accept Bitcoin. but has showed no interest in doing so. This might be the company finally warming up to the idea of crypto-currency.
Dogecoin Community Prepares for Shibe.tv
The “shibes”, as members of the Dogecoin community often call one another, have been going nuts over this over at /r/dogecoin. Redditor, reensport, wrote “We did it fellow shibes! Be proud :’)” Another redditor, paxton125, said “This is it for us. we’ve finally gotten a big thing to accept us.”
The whole subreddit was energized by the news and, to a degree, shocked. They loved that they could spend Dogecoin on a service a lot of them already seemed familiar with. Redditor, MidnightTide, wrote, “I actually paid for 3 twitch subscriptions using Dogecoin. It will cost you about 20k per subscription (I paid over and under, all depends on the value of Doge the day you subscribe)I made sure I told the chat I used Dogecoin when the alert for a new subscriber came up. It does take awhile for Xsolla to confirm your purchase so be patient.”A thread followed the comment, with many Shibes thanking him for the conversion, and of course, tipping him in doge.
It wasn’t just a monetary interest, and it’s potential longterm impact on Dogecoin’s price is unknown. Many Shibes were interested in joining Twitch.tv and posting streams themselves. On another thread, people were talking about putting a tutorial about Twitch streaming, especially for Shibes. Shibes could bring their flavor of crypto-currency humor and energy to Twitch.tv.
Dogecoin have a high transaction volume for the coin’s size because the community that has been built around the coin loves to tip. So far that has mostly been kept to Twitter, Reddit, and forums, but that could start to change. Dogetipbot, a service that allows you to tip Dogecoin to other people who are also signed up, works for Twitch. Many Shibes were already talking about this and making sure to start tipping the streamers. For a long time, one of the use cases of crypto-currency was tipping for digital content on the internet and providing content providers a new stream of income. While this idea seems very plausible, there has not been any big cases of this happening, but the influx of the Dogecoin community to Twitch.tv could be the catalyst for such a thing.
This is not first time a video game company that accepted Dogecoin. Notch, founder of Mojang studios, and creator of Minecraft, released a joke game, called Cliffhorse, for Dogecoin. The game is just a horse that chases a game in a texture that looks like it is straight out of the early 2000s. The game was released for free, but allowed people to get it early if they paid in Dogecoin. The stunt had little to do with Notch’s opinion on Dogecoin and more likely was a swipe at other developers, who have been increasingly accepting pre-orders in order to pay for developing costs.
VoidSpace, it is a massive multiplayer online role-playing game, that will allow users to get Dogecoin without any mining hardware. Users explore the vast world and mine naturally occurring resources. The developer of the game, Nikolas Gauvreau, says he is not sure whether, or not, dogecoins will be a resource the currency players use to exchange resources with each other, but the game is still in development. The game has gotten the greenlight for the online video game store, Steam.
Dogecoin To The Moon!
The price of Dogecoin has boosted because of this news. Yesterday, the price was at 0.0000006 BTC but has moved up to 0.0000007 at the time of time of publication. This good news is on top of the announcement that SnapCard, a crypto-currency payment processor, will be adding 500 POS terminals to the San francisco area. These terminals will facilitate transactions for Bitcoin, Litecoin, Ripple, and Dogecoin.
It seems like nothing can stop Dogecoin from reaching the moon!