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dogecoin meme - The crypto craze epitomizes the age of meme investing
dogecoin meme - The crypto craze epitomizes the age of meme investing
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Doge (meme)
The crypto craze epitomizes the age of meme investing
Dogecoin: The origin story of the Elon Musk supported cryptocurrency
Doge | Know Your Meme

 

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The crypto craze epitomizes the age of meme investing

Doge is an Internet meme that became popular in The meme typically consists of a picture of a Shiba Inu dog accompanied by multicolored text in Comic Sans font in the foreground. The text, representing a kind of internal monologue, is.
The meme typically consists of a picture of a Shiba Inu dog accompanied by multicolored text in Comic Sans font in the foreground. The text, representing a kind of.
Dogecoin is a cryptocurrency created by software engineers Billy Markus and Jackson Palmer, It was introduced on December 6, , and.
It is named after an internet meme centered around the image of a Shiba Inu dog with bad spelling habits—thus “doge” instead of “dog.” Why has dogecoin's.
But even if you think you're in on the joke, the joke might be on you.
A Shiba Inu, more commonly known as a "Shibe," the dog made famous in the Doge meme that was popular in Emblazoned on top: the.
## The wowest Dogecoin Memes on the Internet ## Do Only Good Everyday.
The meme currency has grown by more than times this year. In , Atsuko Sato, a Japanese kindergarten teacher posted some pictures of.
After learning about the meme cryptocurrency on Reddit, Contessoto says he invested over $, in dogecoin on Feb. 5, when it was priced.
A subreddit for sharing, discussing, hoarding and wow'ing about Dogecoins. Greg is always on the clock, working hard for you and me.
Meanwhile, dogecoin, the meme asset that was created in and has minted millionaires due to its stratospheric rise in , was up more.
It was created by Jackson Palmer and Billy Markus to satirize the growth of altcoins by making the doge internet meme into a cryptocurrency. While it was birthed.
Dogecoin, the digital currency born out of memes is making new records and has reached the top fourth place in value. Alike Bitcoin, the.
Dogecoin started in as a joke -- a nod to the "doge" meme that was all over the internet at the time. But it's no longer a joke: It's the fifth-.
They called it dogecoin – pronounced “doje coin” with a soft “g” sound – after the popular “doge” shiba inu meme. According to researchers, the.
Based on the “Doge” meme and started as a “fun” alternative to Bitcoin, Dogecoin's value has risen phenomenally ever since Musk started to.

The crypto craze epitomizes the age of meme investing

The meme typically consists of a picture of a Shiba Inu dog accompanied by multicolored text in Comic Sans font in the foreground. The text, representing a kind of internal monologue, is deliberately written in a form of broken English. The meme is based on a 2010 photograph, and became popular in late 2013, being named as Know Your Meme ' s "top meme" of that year. Several online polls and media outlets recognized Doge as one of the best Internet memes of the 2010s. So noble. Since the inception of the meme, several variations and spin-offs have been created, including "liquified Doge", [3] [4] a variation wherein the dog's shape is morphed into other animals, and "ironic Doge", [3] a version where the Doge character is put into ironic and uncharacteristic situations. The ironic Doge memes have spawned several other related characters, often dogs themselves. One of which is Cheems, another Shiba Inu who is typically characterized by a speech impediment that adds the letter "M" throughout its speech. Cheems", in which a muscular Doge and a baby Cheems are depicted as something considered better in the past, and its modern version, respectively. His wife had accidentally put a scarf in the wash, making it shrink. He took a photograph of Suki wearing the scarf outside on a cold night in February 2010. Some of the other characters used in the meme are based on photographs of real dogs. Online searches for the meme began to increase in July 2013. In late December 2013, members of the U. Congress produced material in the meme's style. The Huffington Post commented that Doge was "killed" because of the Congress members' usage of the meme. In December 2013, the Dogecoin was introduced as a new cryptocurrency , making it the first cryptocurrency to be based on an Internet meme; [18] [19] [20] the viral phenomenon , along with usage of the Comic Sans MS typeface, gave it "the Internet density of a large star" according to Medium writer Quinn Norton. By early 2014, Doge's popularity was sustained by internet communities on social media, accompanied by the rapid growth and acceptance of Dogecoin. A report on The Daily Dot in December 2016 found that Doge's popularity peaked in 2014 and then fell due to "overexposure and co-option by advertisers and mainstream 'normies'", but remained stable since then and returned to Tumblr 's top 10 shared memes of the year in 2016. The advertisement concerned the company's special summer tickets, and featured Doge holding a public transport ticket in his mouth, with phrases such as "many summer", "such cheap" and "very buy". Google created a Doge Easter egg : when doge meme was entered into the YouTube search bar, all the site's text would be displayed in colorful Comic Sans , similar to the kind used by the meme. Doge Weather reports the temperature and weather conditions based on the user's geographic location. In the video for "Weird Al" Yankovic 's 2014 song " Word Crimes ", a song about bad grammar, a Doge tweet is used to illustrate the types of bad grammar referenced in that part of the song. When examining one of the ancient bookshelves, the text reads "Still, coming here has at least afforded me the rare chance to explore these ancient ruins. So ancient. Such ruin. In 2015, the video game Just Cause 3 included a special mode that popped up text in the style of the meme in response to certain player actions. In 2017, the video game Smite added a Doge skin for the goddess Skadi. Several media publications included Doge on a list of memes that helped define Internet culture in the 2010s, and wrote on the meme's influence of further online developments, such as DoggoLingo and WeRateDogs. Reacting to the meme, she explained, "To be honest, some pictures are strange for me, but it's still funny! I'm very impressed with their skills and taste. Around me, nobody knows about the Doge meme. Maybe I don't understand memes very well, because I'm living such an analog life. Fleming stated that in his experience, the Shiba Inu breed has become more recognized due to the meme. Internet meme. Retrieved November 22, 2013. The Toast. Retrieved May 29, 2014. The Daily Dot. Retrieved December 19, 2019. Retrieved March 21, 2019. Retrieved July 5, 2020. Cheems: the dog meme that is going viral on the web]. La Vanguardia in Spanish. May 27, 2020. Retrieved November 8, 2020. June 1, 2020. March 8, 2020. The Verge. Vox Media. Retrieved December 31, 2013. Social media hoax explained following dog's rumoured death". November 27, 2013. Retrieved December 1, 2013. Retrieved March 6, 2017. Retrieved March 4, 2015. Business Insider. Retrieved December 29, 2013. Huffington Post. Retrieved December 25, 2013. Dogecoin is the most Internet thing to happen, ever". Digital Trends. Retrieved April 2, 2015. Such doge". Retrieved May 7, 2014. May 18, 2014. Retrieved March 29, 2015. So wow". Portland Business Journal. NBC Sports. Dagens Media in Swedish. Retrieved May 27, 2014. November 24, 2013. Retrieved July 29, 2016. The Slate Group. Retrieved July 1, 2020. Retrieved July 16, 2014. Legends of Localization. Retrieved July 12, 2017. December 13, 2015. Retrieved May 23, 2021. Official PlayStation Magazine. Retrieved May 24, 2021. Such meme! Very Smite! Rock Paper Shotgun. Retrieved December 31, 2020. November 10, 2015. Retrieved November 23, 2015. Retrieved December 18, 2019. Retrieved March 29, 2020. ABC News. The Tab. Retrieved December 4, 2019. Doge meme at Wikipedia's sister projects. Internet portal Dogs portal. Internet slang variants. Categories : 2010s fads and trends Animals on the Internet Computer-related introductions in 2013 Dogs in popular culture Internet culture Internet memes introduced in 2013 Internet memes introduced in the 2010s Color photographs 2010s photographs. Namespaces Article Talk. Views Read View source View history. Help Learn to edit Community portal Recent changes Upload file. Download as PDF Printable version. Wikimedia Commons. Internet celebrity.
They wanted to create a peer-to-peer digital currency that could reach a broader demographic than Bitcoin. Palmer is credited with making the idea a reality. At the time, he was a member of the Adobe Systems marketing department in Sydney. Markus reached out to Palmer after seeing the site, and started efforts to develop the currency. Markus had designed Dogecoin's protocol based on existing cryptocurrencies Luckycoin and Litecoin , [14] which use scrypt technology in their proof-of-work algorithm. On December 25, 2013, the first major theft of Dogecoin occurred when millions of coins were stolen during a hack on the online cryptocurrency wallet platform Dogewallet. To help those who lost funds on Dogewallet after its breach, the Dogecoin community started an initiative named "SaveDogemas" to help donate coins to those who had them stolen. Approximately one month later, enough money was donated to cover all of the coins that were stolen. In January 2014, the trading volume of Dogecoin briefly surpassed that of Bitcoin and all other crypto-currencies combined, however, its market capitalization remained substantially behind that of Bitcoin. Initially, Dogecoin featured a randomized reward that is received for each mining block, however, in March 2014 this behaviour was later updated to a static block reward. In April 2021, Dogecoin and other cryptocurrencies surged, stimulated in part by the direct listing for cryptocurrency exchange Coinbase on April 14, although that platform did not provide trading of Dogecoin. On May 9, 2021, SpaceX announced a rideshare mission to the Moon completely funded by Dogecoin, thus becoming the first space mission funded by a cryptocurrency. Dogecoin is an altcoin with many users. Mainstream commercial applications of the currency have gained traction on internet, such as a tipping system, in which social media users tip others for providing interesting or noteworthy content. Dogecoin has also been used to try to sell a house, [44] and has been used in the pornography [45] and poker industries. Dogetipbot was a cryptocurrency transaction service used on popular sites like Reddit and Twitch. It allowed users to send Dogecoins to other users through commands via Reddit comments. In May 2017 Dogetipbot was discontinued and taken offline after its creator declared bankruptcy; this left many Dogetipbot users losing their coins stored in the Dogetipbot system. DeFi decentralized finance is a form of finance that does not rely on middlemen such as brokerages , exchanges , or banks to offer financial instruments. While Dogecoin cannot interact with smart contracts directly given that it operates on its own chain, the coins can be "wrapped" so that they can be locked into a state that is interoperable with a contract until it is later released. Most DeFI coins use the ethereum blockchain network. An example of a Dexs is Uniswap ; these are entirely peer-to-peer exchanges, without any company or other institution providing the platform. Dogecoin started with a supply limit of 100 billion coins, which would have been far more coins than the top digital currencies were then allowing. By mid-2015 the 100 billionth Dogecoin had been mined with an additional 5 billion coins put into circulation every year thereafter. Although there is no theoretical supply limit, at this rate, the number of Dogecoins put into circulation will only double in 20 years the next doubling will occur in the year 2075. There is no implemented hard cap on the total supply of Dogecoins. Nonetheless, in February 2014, Dogecoin founder Jackson Palmer announced that the limit would be removed in an effort to create a consistent reduction of its inflation rate over time. Dogecoin's block time is 1 minute as opposed to Litecoin's 2. Several cases of people using their employers' or universities' computers to mine Dogecoin have been discovered. The Dogecoin community and foundation have encouraged fundraising for charities and other notable causes. Inspired by the Winter Olympics fundraiser and smaller charity fundraising successes, the Dogecoin Foundation, led by Eric Nakagawa , began collecting donations to build a well in the Tana river basin in Kenya in cooperation with Charity: Water. On March 25, 2014, the Dogecoin community successfully raised 67. Nicknamed the "Moonrocket", [55] the No. He finished the race in fifteenth, the last car running. McLeod Motorsports announced that Dogecoin would be sponsoring the No. Coincidentally, his father Phil was the owner of the team that fielded the original Dogecoin-sponsored car in 2014. Dogecoin's origin as a joke has made it difficult to be taken seriously by mainstream media and financial experts. The cryptocurrency has had a long and problematic history of scams. The Daily Dot. Retrieved 2018-12-21. Just Ask Doge". The New York Times. ISSN 0362-4331. Retrieved October 3, 2017. Accessed 28 December 2017. Dogecoin is the most Internet thing to happen, ever". Digital Trends. Retrieved December 12, 2013. Sydney Morning Herald. Retrieved April 5, 2014. Australian Broadcasting Corporation. Retrieved May 10, 2021. Retrieved 2021-02-12. Vice Media. Retrieved December 23, 2013. Junkee Media. Retrieved January 12, 2021. Jackson Palmer accidentally invented Dogecoin in early December... Business Insider. Retrieved December 19, 2013. International Business Times. Retrieved December 20, 2013. Retrieved 2014-02-16. Retrieved December 10, 2013. Retrieved 21 September 2019. DogeCoin fetches 300 percent jump in value in 24 hours". Retrieved December 22, 2013. Retrieved December 26, 2013. Many Dogecoin. Very Disappear. So Gone. Retrieved December 25, 2013. Los Angeles Times. After Dogewallet heist, Dogecoin community aims to reimburse victims". December 27, 2013. Retrieved March 2, 2014. Retrieved July 9, 2020. Retrieved 29 January 2021. Retrieved 21 February 2021. Retrieved 2021-04-17. The Wall Street Journal. Retrieved 2021-04-14. New Delhi. How a joke became hotter than bitcoin". Retrieved May 15, 2021. Al Jazeera. May 10, 2021. Retrieved 2021-05-10. Retrieved 9 May 2021. Retrieved March 4, 2015. The Verge. Retrieved December 16, 2013. Duaine Hahn December 16, 2013. Complex Tech. Retrieved March 17, 2014. February 27, 2014. Retrieved September 9, 2017. May 4, 2021. Ars Technica. Retrieved February 4, 2014. Retrieved June 13, 2014. The Guardian. Retrieved 21 February 2020. NBC News. Retrieved February 2, 2014. IB Times. Retrieved May 25, 2014. NBC Sports. Retrieved March 26, 2014. Retrieved May 6, 2014. USA Today. Retrieved May 18, 2014. May 18, 2014. To learn more: t. Here's How It Doesn't Work". Financial Times. Proof of authority Proof of personhood Proof of space Proof of stake Proof of work. Ethereum Ethereum Classic. Auroracoin Bitconnect Coinye Dogecoin Litecoin. Bitcoin Gold Zcash. Dash Petro. Cardano EOS. Category Commons List. Anarchism portal Business and economics portal Economics portal Free and open-source software portal Internet portal Money portal Numismatics portal. Namespaces Article Talk. Views Read View source View history. Help Learn to edit Community portal Recent changes Upload file. Download as PDF Printable version. Wikimedia Commons. Dogecoin Logo. December 6, 2013 ; 7 years ago 2013-12-06. MIT License [1].
These photos may be photoshopped to change the dog 's face or captioned with interior monologues in Comic Sans font. Starting in 2017, Ironic Doge formats gained prevalence over the original wholesome version. The use of the misspelled word "doge" to refer to a dog dates back to June 24th, 2005, when it was mentioned in an episode of Homestar Runner 's puppet show. On February 13th, 2010, Japanese kindergarten teacher Atsuko Sato posted several photos of her rescue-adopted Shiba Inu dog Kabosu to her personal blog. In December 2013, shortly after the breakout of "Doge," the tech news site The Verge [39] published an article identifying Sato's Kabosu as the original Shiba Inu depicted in the meme. In addition to Kabosu, The Verge also identified "Suki," a Shiba Inu who lives with San Francisco-based photographer Jonathan Fleming, as the scarfed dog portrayed in another popular instance of the meme. Sometime in April 2012, Tumblr user leonsumbitches [15] uploaded an audio file of a computer reading a passage written like the commands of a turn-based adventure game about encountering a "doge. In response, the single topic blog Your Daily Doge [17] was created, but was quickly abandoned after reblogging leonsumbitches' post several times. The same month, a photoset of a dog with a cup and saucer balanced on his head went viral on Tumblr after airpi [14] referred to it as "Polite Doge. The growth in summer 2012 coincided with the popularity of the single topic Tumblr Shiba Confessions , as people began to refer to these dogs as "shibes. Another single topic blog, shibe-doge [12] , launched in July 2013 dedicated to sharing Shiba Inu photos. On November 20, 2013, YouTube implemented an Easter egg , that changes the text to be colored and in Comic Sans, much like the original internal-monologue style captions, when a user searches the phrase "doge meme". According to The Daily Dot's report [21] , the raid started late Sunday night and lasted until about 12:15 p. On June 24th, 2014, the California-based gaming accessory company filed to trademark "Doge" with the United States patent office to sell card boxes and playing card covers with Kabosu's likeness on the front. However, the tweet was an April Fools' Day prank. According to Kabosu's official Instagram account, kabosumama, doge is alive and well. Kabosumama posted a video of the dog shown below , which received more than 4,600 likes and 22,600 views. I don't care that somebody told the lie that Kabosu is dead for April Fools' Day, but one important thing for me is " Kabosu is a girl", she is a female dog. On December 6th, BitcoinTalk forum member Dogecoin introduced an alternative cryptocurrency based on the meme as a satire of the Bitcoin boom in a thread [23] titled "Dogecoin — very currency — many coin — wow — v1. In comparison, Bitcoin will cap out at 21 million coins and Litecoin will support up to 84 million coins in circulation. Throughout the first weekend of December, Dogecoin was highlighted by a number of tech news sites and blogs, providing a further boost to the value of the satirical currency. By December 14th, an encyclopedic article [27] describing the concept of "Dogecoin" had been submitted by Wikipedia editor CitationNeeded. Ironic Doge Memes are memes that feature the Doge meme in strange or surreal circumstances. Many take the form of image macros and often feature edits to the Doge image for the purposes of dark or absurd humor. Editors Note: Search interest for the word "doge" [1] is partially inconsistent as it is also a Venetian term for "leader" used as a title in some Italian "crowned republics" including Genoa and Venice. Fuck Yeah! Shiba Inu who inspired popular Internet memes died in Japan aged 16. View All Videos. View All Images. Show Comments. He says he was unaware that the version he was playing had mods installed that increased the drop rates of key items necessary to complete the run. Know Your Meme is an advertising supported site and we noticed that you're using an ad-blocking solution. Read Edit History. Top entries this week. Origin The use of the misspelled word "doge" to refer to a dog dates back to June 24th, 2005, when it was mentioned in an episode of Homestar Runner 's puppet show. Identity On February 13th, 2010, Japanese kindergarten teacher Atsuko Sato posted several photos of her rescue-adopted Shiba Inu dog Kabosu to her personal blog. Various Examples Meme Trends. Search Interest Editors Note: Search interest for the word "doge" [1] is partially inconsistent as it is also a Venetian term for "leader" used as a title in some Italian "crowned republics" including Genoa and Venice. Latest Editorial And News. Meme Snek. Meme Captioned Stock Photos. Meme Stop Das Gay. Meme Master Trole Kid. Meme Oh You So Crazy. Meme Ironic Doge Memes. Site Dogelore. Recent Videos 103. Add a Video. Add an image. Tags animal dog shiba inu shibe such doge super shibe japanese super tumblr much very many comic sans photoshop meme such shiba shibe doge doges dogges reddit comic sans ms tumblr meme hacked bitcoin dogecoin shitposting stare canine. View More Editors. Add a Comment. View More Comments. Photo Pet Your Cat. Previous 1 2 3 4 5 6 7 8 9 10564 10565 Next. We see that you're using an ad-blocker! O HAI! You must login or signup first! Already a memeber? Login Now! Don't have an account? Sign up Now! Close [X].
To learn more or opt-out, read our Cookie Policy. My first Covid-19 vaccine shot came with a dose of cryptocurrency advice. He suggested I buy some, too. We are in the age of investing by meme. They buy into the hype generated on platforms like Reddit and TikTok and join in. Crypto is the epitome of all of this — as well as all the disarray and confusion that entails. Bankman-Fried is a crypto billionaire. They managed to rankle some big names on Wall Street. There are some investors who will say they were into the GameStop trade because they believe in the value of the fledgling company, but a lot of them were there for GameStop as a meme. And a powerful one at that. The meme aspect of it has always been part of the appeal. Bitcoin and dogecoin and ethereum are as much a cultural and internet phenomenon as they are a technological or financial one. And as crypto goes more mainstream, so do the memes, especially as people are getting into day trading without much of an investment plan. Though cryptocurrencies have been around for more than a decade, they are capturing more headlines recently. Both institutional and ordinary investors have been along for the ride. But crypto is also incredibly volatile , as evidenced in the wild fluctuations seen this May. A sudden selloff on May 19 sent the price of bitcoin down 30 percent , and hundreds of thousands of traders were completely liquidated. The meme meets reality. This is not even our final form. Bitcoin LaserRayUntil100K pic. Many politicians and regulators are calling for tighter rules around the space. Bitcoin has gone through boom-and-bust cycles before, and pump-and-dump schemes in smaller coins right now are everywhere. And memes go in and out of style. Now that life is getting back to normal, scanning random subreddits to rally behind a funny new coin or image might fall further down on the list of priorities. When I went back for my second Covid-19 shot, I decided not to ask the vaccine guy about his dogecoin investment. Plenty of people are trading crypto for substantive reasons. But much of the crypto frenzy recently appears driven by … not that. When the going gets rough, there is a core group determined to meme through it. The joke is still funny, even if the financial situation is not. It is also a joke. The irrational exuberance now is reminiscent of 2017. Back then, there was a proliferation of initial coin offerings ICOs , with startups offering digital tokens to raise money. They generated a lot of hype, and some even came with celebrity endorsements. A lot of them turned out to be scams. Some big institutional names started to get behind bitcoin. The cryptocurrency trading platform Coinbase also went public in the spring , solidifying a spot in more traditional finance. Cash App and PayPal and Venmo have begun accepting some cryptocurrencies; Tesla said it would accept bitcoin but then changed course. But generally, more people have gotten into crypto in recent months and years because it was easier to do so. The enthusiasm around crypto — some of it financial, some of it meme-inspired — bred more enthusiasm. There are thousands of cryptocurrencies out there, and creating a new one is really easy. Some of the options are rather serious projects although there are plenty of smart people who would tell you absolutely nothing about this is serious ; others are a joke. Even the price of a cryptocurrency at any given time can be debatable. In the relatively short life of crypto, there have been multiple rounds of booms and busts, most notably in 2013 and in 2017. There is more institutional buy-in this time around, which some people in the space say they believe means this time will be different. Of course, institutions can always walk away, and many investors are easily spooked. The amount of money people have lost in crypto scams is up 1,000 percent over the past six months compared to the same period last year. There have been multiple high-profile hacks , and sometimes, people just lose their crypto because they forget a password or lose their keys. The same goes for crypto. But no single agency is even the clear regulator of cryptocurrency. Crypto is generally considered a commodity, like oil or gold, and not as a security, like a stock, or a currency, like the dollar. The IRS has to deal with the tax component, too. This new policy stands to undercut some of the appeal of crypto, where transactions often fly under the radar. The lack of regulation, in many ways, makes the meme element more potent. A crime is still a crime, and money laundering is illegal regardless of the currency. After all, the point of projects such as bitcoin is to be global. China recently moved to clamp down on crypto transactions and shut down crypto mining operations there, which ignited the May 19 drop in crypto prices. Hong Kong has proposed requiring exchanges there to be licensed by its markets regulator and limiting crypto trading to professionals — a big deal, given that many of the biggest exchanges of the world are located there. Given the environmental impact of crypto mining, some people would like to see it regulated out of existence forever. They hopped in on a meme coin and went along for the ride, many of them learning that making a quick buck on something they saw trending on the internet is easier said than done. Our mission has never been more vital than it is in this moment: to empower through understanding. Crypto is the epitome of meme investing, which brings with it a unique set of risks and rewards. Reddit Pocket Flipboard Email. Literally pic. Recode Ransomware attack hits another massive, crucial industry: Meat.
June 22, 2014. Jackson Palmer, a self-identified "average geek," is high in the stands at a Nascar race at the Sonoma Raceway in California. He is an Australian man in his 20s. He has zero interest in racing. Never in his wildest dreams did he imagine it would come to this. Below him: a tremendous crowd. The overwhelming blare of engines. Hurtling round at tremendous speeds: the 98 Moonrocket, a high-performance racing car. On the bonnet of the car: a dog. A Shiba Inu, more commonly known as a "Shibe," the dog made famous in the Doge meme that was popular in 2013. Below: "digital currency". Palmer describes the situation using words like "crazy," "surreal" and "nuts. Six months later, he watched as a joke that he'd made in passing somehow manifested itself into something tangible. A Dogecar in full flight. Dogecoin is a cryptocurrency , a form of digital money that, much like bitcoin , enables peer-to-peer transactions across a decentralized network. One important difference: bitcoin is the original blockchain proof-of-concept. Bitcoin is ground-breaking. Bitcoin is some believe world-changing tech with the potential to transform how money works in the 21st century. I really think it has to do with being established early. If you've spent any time on the internet during the last decade, you've probably heard of the Doge meme. The iconic Shibe, his inner monologue expressed in comic sans with broken modifiers: "so scare," "much noble," "wow. At the peak of the meme's popularity near the tail end of 2013, Palmer, an Australian marketer for one of the world's largest tech companies, made a joke combining two of the internet's most talked-about topics: cryptocurrency and Doge. It was a joke taking aim at the bizarre world of crypto and bitcoin's multiple derivatives. For laughs, Palmer decided to keep the joke going. He bought the Dogecoin. He'd just finished "Bells", a project he was working on in his spare time. Bells was a cryptocurrency named after money used in the Nintendo game Animal Crossing. It was 2013, the original crypto gold rush. Markus saw that bitcoin's code was open-source. He decided to take a weekend and do something weird. He tried to create his own cryptocurrency for "sillies," as he put it. Bells was weird as hell. The major difference between Bells and regular cryptocurrencies was the rewards: they were completely random. If you mined bitcoin, using a decently powerful home computer, the rewards were consistent. If you mined Bells, there was no telling whether the reward would be one Bell or 500 Bells. And that's because Bells wasn't meant to be serious, it was a digital currency based on a video game about animals who live in a village and go fishing together. But then Markus read Palmer's message on Dogecoin. That was the moment Billy Markus decided to come out of crypto retirement. When Palmer didn't immediately respond to Markus' offer to help build Dogecoin, he started working on it anyway. It's almost trivial to create a new cryptocurrency. Markus freely admits to finding large chunks of bitcoin's source code completely incomprehensible, but knew enough to change a few core elements for Dogecoin. For example, Markus created 100 billion dogecoins as opposed to bitcoin's 21 million and made them easier to mine. Dogecoin is already close to being mined out, while bitcoin's final coin will be mined in 2140. He changed the font to comic sans of course and changed every mention of the word 'mine' to 'dig' because dogs don't mine, they dig... Premining: the act of gathering cryptocurrency before launching your coin into the public domain. Almost everyone serious about launching a cryptocurrency does this. But Markus and Palmer didn't premine any Dogecoin. Because they weren't serious about launching a cryptocurrency. Markus had a relatively powerful gaming PC, with two graphics cards, so he was officially the first person to mine Dogecoin. But given the the nature of mining which gets increasingly difficult as the currency is mined Billy's computer was no longer powerful enough to mine Dogecoin after about five minutes. Markus split what he'd mined 50-50 with Palmer and that was that. In online crypto circles, Dogecoin became popular very quickly. Forum threads moved rapidly. The name Dogecoin echoed throughout dark corners of the internet. But Reddit was almost certainly the main driver in Dogecoin's rapid rise to crypto stardom. The Dogecoin subreddit exploded almost immediately, and with that explosion came the infrastructure any cryptocurrency needs if it is to become successful: mining pools, services. If a user posted something to the effect of, "hey 'dogebot' tip this person five dogecoin," that Reddit user would automatically receive five Dogecoin. People were sending Dogecoin back and forth in a feel-good exercise that cost very little money in real-world terms. Reddit users were sharing Dogecoin back and forth constantly, which expanded the user base of Dogecoin and, as a result, increased its value as a cryptocurrency. January 2014. Jackson Palmer is already three drinks deep at a trivia night at his local pub in Sydney. His phone starts buzzing. It doesn't stop buzzing. Earlier that night, Palmer and the Dogecoin community had brainstormed a ridiculous but completely brilliant idea. For the first time in a decade, Jamaica's bobsled team had qualified for the Winter Olympics, but it didn't have enough money to attend. As huge fans of the comedy " Cool Runnings ," Palmer and the Dogecoin crew decided to do something about it. They chucked up a Dogecoin address onto the subreddit and asked for donations. In Markus' words, they were allergic to the word "invest. They helped build water wells in Kenya and raised money to help train assistance dogs for autistic children. But as the community grew, the initial spirit in which Dogecoin was launched was difficult to preserve. People started to care about the price of Dogecoin. They were literally and figuratively invested in it. That makes me really, really uncomfortable. Markus began clashing with members of the community. For him, Dogecoin was still crypto "for sillies," but here it was ballooning into a currency people were trading for real money. In his view Dogecoin was a silly thing that should remain silly. Many in the community disagreed. Run by a British man calling himself Alex Green, Moolah was a cryptocurrency exchange designed to help people buy and sell Dogecoin. They infiltrated the Dogecoin community with startling efficiency. Alex Green began by doling out Dogecoin in exchange for upvotes on the Dogecoin subreddit. The community loved it. He wanted to catch up with some of the old gang. They poured a glass for Markus. But when concerns were raised they were mostly shouted down by a community that enjoyed the free currency being sent their way. Later Moolah began soliciting the Dogecoin community for investment dollars and plenty donated Dogecoin to the cause. Why not? Moolah had been generous in the past. It made sense to repay the favor. Months later, October 2014, Moolah went completely bankrupt. The Dogecoin community would end up losing every single cent they'd invested. The situation got worse. An ex-girlfriend of Green got in contact with Palmer and other members of the Dogecoin community. She revealed that Green was actually Ryan Kennedy, who was notorious in the UK anime community for running companies terrifyingly similar to Moolah. Suddenly the UK police were involved. After a three-year investigation, Kennedy faces multiple charges of fraud and money laundering. At a preliminary hearing in Bristol Crown Court on September 2017 he denied all charges. A request for comment was sent to Kennedy's Defence Lawyer, but we've yet to receive a response. But Kennedy had to answer to more serious, disturbing crimes. In May 2016, he was tried and convicted on three counts of rape with three separate women. In the months after Moolah's bankruptcy, Palmer struggled. Palmer has re-emerged on the cryptocurrency scene. He now runs his own YouTube channel. He has no interest in launching another cryptocurrency and has little to do with Dogecoin. He calls himself a crypto skeptic. It's a reminder that we can't take this stuff seriously. Because right now there's a dog on a coin and it's worth half a billion dollars. Outside of the occasional donation, neither Palmer or Markus owns any significant amount of Dogecoin. Back in January 2014, Markus posted a message on the Dogecoin subreddit; an ode to the community and what it had achieved. One year later, in the wake of the Moolah disaster, it had been reposted. An attempt to recapture the spirit in which Dogecoin had been founded. He wrote about how proud he was -- of the community, of the money they'd raised for various good causes. He thanked everyone for the incredible amount of work they'd put in. Be respectful, keep it civil and stay on topic. We delete comments that violate our policy , which we encourage you to read. Discussion threads can be closed at any time at our discretion. Dogecoin: The origin story of the Elon Musk supported cryptocurrency Before Elon Musk, Dogecoin was an elaborate prank taken to the extreme. Mark Serrels. May 8, 2021 8:49 p. He surveys the scene. It reminded Palmer how insane the world could be. This is the story of Dogecoin, the joke that became too real for its own good. The Dogecar, in all its glory. Dogecoin is a digital coin with a picture of dog on it. 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