What is Dogecoin, the cryptocurrency “memecoin” that Elon Musk answers


The image of “Doge” that went viral in 2014 | Via Infobae

Días atrás, Tesla, the world’s leading electric vehicle maker, announced that it has invested $ 1,500 million in Bitcoin and plans to accept this digital currency as payment for its vehicles. The move, prompted by its CEO, Elon Musk, the multimillionaire charismatic, caused an increase of up to 15% on the day of the cryptocurrency subscription, which led to a new record of $ 44,000.

By: Infobae

At the same time, Dogecoin, a marginal cryptocurrency that also pushes Musk in its Twitter account, subscribes to the fees up to 40%, to raise USD 0.085 per unit. With the image of Doge, the Shiba Inu platform concocted online as one of the most famous memes, was created by Billy Markus, a software engineer who created the cryptocurrency in 2013.

Markus’ idea, together with the Australian Jackson Palmer, started with a twist. Launch a coin-operated parody called Dogecoin to get rid of the fever by the cryptocurrencies. But the “magic of the internet” hizo lo suyo y tiempo después esa divisa comenzó a hacerse conocida en foros. As of December 2017, the value was equal to USD1,928.

Inspired by Litecoin – based on a cryptographic protocol administered by no central authority, signed by consensus between – the Dogecoin development is part of a decentralized network in which transactions between specifics and companies can be carried out regulated. For this reason, there is no difference between this cryptocurrency and other similar ones that can be found with ease.

“Memecoin”

“Dogecoin is a basic meme; is the power to mediate the economic effect that has a meme, and when Elon Musk uses the concept of Dogecoin in his tweets, or what he, possibly, can mediate the impact of his viral influence, because he can see the increase in price of meme in the market. Dogecoin is a bit like the first ´memecoin´, the first currency respected by the first proposition of a meme, which is circular, short, and highly speculative, which reflects the capacity of influence of a person. Tal Elon Musk plays with the idea of ​​Dogecoin to justify his influence, which, however, may also reflect on the influence he has on the price of Bitcoin “, reflects Santiago Siri, Argentine entrepreneur at the front of the Democracy Earth Foundation, who work on blockchain digital democracy themes.

As a matter of principle, in his appearance on the Clubhouse audio network, Musk recalls a consumer of memes and dijo: “The one who controls the memes controls the universe”. However, it also lists the memes and has friends that it selects to select the best for the senders.

The crime of Dogecoin

Dogecoin’s record contribution was not only solicited by Musk, by Snoop Dogg (or inclusive, KISS ‘Gene Simmons). It has a record capitalization of USD 10,500 million, and the value of each token disappears (at the moment) up to 8.2 cents a dollar from various tweets from Tesla’s CEO and rapper, according to Bloomberg.

But the Dogecoin creator revealed on the Reddit platform that it is not part of the project. “I was already in 2015 when the community started to change my mind … Currently I do not have any Dogecoin, except for what I have recently received, regalé and / or sold all the cryptocurrencies that in 2015 were desped and assisted by “I reduced the number of crashes at the moment, almost the total of one Honda Civic used,” he said.

According to Bloomberg, Markus, 38 years old, works as a software engineer for a San Francisco educational company. “There is this internet hack that says that everything is connected to this money. That’s great, but where is it? Dijo Markus. También also expresses that it is indifferent to the actual fury. “But it’s amazing that something in a few hours is now part of internet culture,” he said.

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