Dogecoin, which started as a parody cryptocurrency, has now broken the $1 bln market cap showing how far virtual currencies have come since Bitcoin’s inception in 2009.
Four years after the Bitcoin genesis block was mined, programmer Billy Markus coded his very own cryptocurrency in 2013. With the help of Jackson Palmer, a product manager and data analyst at Adobe, Dogecoin was brought to life, meme and all.
Taking up the popular internet meme of the Shiba Inu dog, the creator envisioned the cryptocurrency to be a friendly online payment system, although its rise in popularity may not have been intended.
Nevertheless, in the space of five years, Dogecoin has grown into its own vibrant community of users. Over time, Dogecoin has become popular as a ‘tipping system’ among its users - as stated on the website:
One of the most popular uses for Dogecoin is "tipping" fellow internet-goers who create or share great content. Think of it as a more meaningful "like" or upvote, with real value that can be used all across the internet.
The cryptocurrency has no limit on the amount of coins that can be created by mining. At the time of writing, there are over 112 bln Dogecoins in circulation. While a single Dogecoin is worth no more than $0.01, a single cent, the total market capitalization is now over $1.19 bln - amounting to 72,423 Bitcoin.
Pop-culture coin
Much like Cointelegraph is known for its bold artwork, Dogecoin took up an Internet meme as its ‘mascot’ of sorts. The word ‘doge’ is a popular internet term for a dog, which started out as a simple misspelling of the word in a TV series back in 2005.
As knowyourmeme.com explains, the term doge was married with the picture of a Shiba Inu dog on Reddit back in 2010, leading it to become one of the most well-known internet memes.
Dogecoin
Its association with a cryptocurrency came about in 2014 and the rest is history - although Doge and its various memes would have provided constant internet joys with or without a virtual currency.
Charitable community
The Dogecoin community is also well known for its charitable endeavors.
In 2013, Dogecoin wallet platform Dogewallet was hacked and millions of coins were stolen. In the aftermath, the Dogecoin community started a fundraising effort known as SaveDogemas, which eventually raised the same amount of Dogecoin stolen in the hack just a month after the cyber theft.
The community has also raised funds for Olympic athletes, water projects in Kenya as well as retired NASCAR driver Josh Wise.
Twitter buzz
Cypherpunk Jameson Lopp gave the cryptocurrency a shoutout on Twitter:
Jameson Lopp
✔
@lopp
.@ummjackson created @dogecoin as a joke, but at this point the joke's on him. Wow! Such shibes! Very billion! ~~~ embed:949063072303534080 … twitter metadata:Y29pbmRlc2t8fGh0dHBzOi8vdHdpdHRlci5jb20vY29pbmRlc2svc3RhdHVzLzk0OTA2MzA3MjMwMzUzNDA4MCDigKZ8 ~~~
12:51 AM - Jan 5, 2018
31 31 Replies 133 133 Retweets 476 476 likes
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Another user celebrated Dogecoin’s rise in value, pointing out that it was worth more than the Japanese Yen.
View image on TwitterView image on Twitter
Wolfborg
@Wolfborg13
dogecoin is worth more than the japanese yen now, what a time to be alive
1:05 AM - Jan 5, 2018
9 9 Replies 132 132 Retweets 482 482 likes
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By Gareth Jenkinson
Bitcoin Buzz in NFL Playoffs
11947 Total views 256 Total shares
Bitcoin Buzz in NFL Playoffs ADOPTION
Betting has long been a favorite pastime for sports fanatics and that fervor has spilled over into the world of cryptocurrencies.
Whether you like to bet on results or enjoy the thrill of spot betting on chance occurrences, there is plenty on offer for the avid gambler.
The NFL playoffs are already underway, but it’s not too late to stand a chance to win some Bitcoin during the business-end of the American football season.
There is no denying the hype surrounding NFL, especially when we near the Super Bowl which in recent years has garnered no less than 100 mln viewers.
So it really is a no-brainer that marrying NFL with the likes of Bitcoin, which was the second most searched news term on Google in 2017, will grab headlines.
Online fantasy sports gaming company FanDuel is running a league which offers winners various rewards in Bitcoin over the next few weeks. According to Business Wire, this is a first for the online sports gaming community.
Fantasy sports have become massively popular around the world and FanDuel CFO Andy Giancamilli says the incentive to offer Bitcoin as a reward is a step towards the future, as cryptocurrencies move into mainstream acceptance.
“FanDuel has always sought to deliver the most unique and rewarding experiences or prizes to our users,” said FanDuel CFO Andy Giancamilli.
“In awarding Bitcoin, we’re recognizing that most of our users are early adopters of technology and have a significant interest in cryptocurrency. Our fans love the prizing aspect of playing on our site and we think this will be a reward that they truly appreciate.”
Two contests - four Bitcoin ($65,000) at stake
Fantasy league players can enter a free-to-play contest which rewards one Bitcoin to the winner of the ‘Bitcoin Bowl Free Play.’
The ‘Bitcoin Bowl Tournament,’ a multi-entry competition costing $3 per entry, offers the winner two Bitcoin in reward. Finishing in second place offers 0.5 Bitcoin while third and fourth place will get 0.25 Bitcoin each.
A player must select a full fantasy starting team comprising of one quarterback, one kicker, one tight end, one defense as well as three wide receivers and two running backs. The different players have different scoring opportunities that are recorded during a game, as per this guide from Rotogrinders.
Results
The wildcard round of the NFL playoffs got underway on Jan. 6.
First up, the Tennessee Titans beat the Kansas City Chiefs 22-21 while the Atlanta Falcons beat the Los Angeles Rams 26-13.
The Jacksonville Jaguars beat the Buffalo Bills 10-3 while the New Orleans Saints beat the Carolina Panthers 31-26 on Jan. 7.