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What would be your reaction if someone today created a new crypto-currency and it was understood from the beginning that the cryptocurrency is going to be satirical? A number of people would not have given it a second thought.
It was quite evident during the launching of Bitcoin when it was introduced to the public for the first time last year. However, things were different when Dogecoin came into existence as players embraced this cryptocurrency with open arms. It is interesting to note that Dogecoin is one of the widely used, community supported and played cryptocurrency in the world.
You can find it at many online casinos and well backed by popular wallets like for instance Jaxx. If you are a potential casino player who is having doubts about this cryptocurrency, then you should check out this post below where we would provide complete details about Dogecoin.
This cryptocurrency was originally developed for serving only two important purposes. The first was to use it as a satirical commentary on a sudden explosion and ridiculous valuations of new currencies developing at that time. The second purpose of Dogecoin was to create a currency that is fun and can be accessed easily than the dominating Bitcoin.
This cryptocurrency was developed for having a large supply in terms of several billion so that the individual unit has a low price. Other purposes for introducing this cryptocurrency were for using an online tipping currency like for instance YouTube videos and Reddit comments. Dogecoin creators made use of the popular Doge meme as the sole name and symbol for this new cryptocurrency.
This cryptocurrency was developed as a fork of Luckycoin which is itself a fork of Litecoin. Hence, Dogecoin contains features and characteristics of Litecoin. Like for instance, it makes use of a Scypt algorithm that was originally developed so that bitcoin ASICs could not mine it. Dogecoin has shorter block time as compared to Litecoin. The main objective of creating Dogecoin was for making the currency accessible to everyone.
Also, this cryptocurrency does not have a fixed limit on overall supply. According to the experts, additional 5. Some critics are of the opinion that it would have a negative characteristic of Dogecoin because it would not allow the value of individual tokens to climb up. Dogecoin did, in fact, saw a steep rise in its price recently but has unfortunately returned to its normal price value.
Because of low-cost individual tokens, one need not have to pay a lot of money for the transaction fees as compared to its competitors. It takes less than 1 cent to make an online transaction.
Also, transactions of Dogecoin are faster and reliable at the same time. Dogecoin saw a sudden increase in its prices in December and January and the creator of this cryptocurrency commented about it on his Youtube channel.
He advised all the prospective buyers and investors to wait until the market cools off. The main reason for the popularity of Dogecoin among players is because it is fun to use and satirical at the same time.
The transaction fees are incredibly low and processing time is blazing fast. It is widely used as means of exchange by the traders. Like for instance, if you wish to withdraw money from any cryptocurrency exchange, then Bitcoin can be a costly affair. Hence, many traders choose to first trade their Bitcoin for Dogecoin and the currency is withdrawn in Dogecoin which is later on converted into something else.
Some people use Dogecoin for speculation because its unit price is quite low. Hence, it would not cost a fortune to buy a million units of Dogecoin. Any small price in Dogecoin would mean a huge profit.
Also, this cryptocurrency is widely accepted in all the major exchanges and instant exchange services like Flyp. As it is integrated into Shapeshift, Dogecoin can be used for the payment of several goods and other services that uses Shapeshift API.
For more than once in history, this cryptocurrency has fallen on hard times. A divisive incident involving cryptocurrency exchange and massive theft has made many fans dissatisfied and have abandoned the currency. Also, Exodus Wallet has removed Dogecoin because it things that the former lacks several features and needs proper development.
Still, this cryptocurrency has been doing extremely well that outweighs its downsides. It is still accomplishing its original goal that was set at the time it was developed in This cryptocurrency is easy to acquire, friendly and useful. Also, it is quite popular among the online gamblers because of its friendliness and helping the new users.
The supporters of Dogecoin are always committed to giving out small amounts to encouraging people to trade in it. While many people have forgotten the Doge meme, but it is still having a far-reaching and effective symbol for the true believers because of it units masses. A lot of casino players have shown a great deal of interest in this cryptocurrency and within a few years, it is going to compete with Bitcoin. Top 10 Dogecoin Casinos for — Online Casino Dogecoin What would be your reaction if someone today created a new crypto-currency and it was understood from the beginning that the cryptocurrency is going to be satirical?
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