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The State of Dogecoin

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The following column is the first in a series of analysis meant to provide an accurate understanding of where Doge stands today, no pun intended.

3 Augustus 2014

Atlanta, Georgia, United States of America

Mining is not my thing. It never was. Will it be in the future? Maybe. But for now, not. So the way I acquire mine is to buy. You see, I was there. I remember the early days of Bitcoin: long before CoinBrief; long before Dogecoin; long before California declared it as an official currency, when the idea of another cryptocurrency meant Litecoin. Khalas.

My first purchase was 47 Bitcoins. It took a weekend trip via a ferry from Tallinn, Estonia to Helsinki, Finland in order to acquire them. I met with Jeremias Kangas (Founder of LocalBitcoins) to complete the trade. At this time, LocalBitcoins was just a website slapped together that could pair a buyer and seller with a simple escrow service. There were less than 15 people in all of Europe who you purchase/sell bitcoins from/to. I chose Finland because it was the closest country to me at the time.

Fast-forward to today and my options of who to buy and sell bitcoins from are unlimited. Fast-forward to today, there are everything from companies dedicated to mining hardware to enough wallet options to draft a Google Play Store category for them.

Today there exist payment processors, brokerages, restaurants, universities, and incubators based around the crypto. There’s 80% of a complete market out there. Give it 3 years until bitcoin starts to take a share of forex trading.

I’ve seen from where we came and I understand where we’re going. Now along this this road of progress, in December of 2013, in walked Dogecoin – the people’s currency. Or as Google defines it, “the internet’s currency”.

Folks think it just a meme, “built to last a year”. How so? It’s Bitcoin, but better. Literally, so. And the last time I checked jokes don’t last a year (good ones anyway). And if Dogecoin isn’t the king of all jokes, I don’t know which is. Whether your argument’s “many coins”; “need hash”; “scarce uses”; “huge Blockchain”; or “many argues” (puns intended), there’s one rebuttal for them all – resiliency. Our ability to adapt.

-End of Part I-

Coin Brief is an open source website for digital news. It provides cryptocurrency tools, mining calculators, tutorials, and more. It was acquired by 99Bitcoins on September 2015.

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