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Dogecoin: Not a viable alternative to Bitcoin, but possibly the best invention on the internet

Bitcoin, losing its practicality. Furthermore, if you find all of the cryptocurrency rhetoric and serious-business economics articles sucking all of the fun and joy out of trying to make a digital buck, then the internet’s most beloved Shiba Inu is here to save the day.

If you’ve been living in a remote location Where The Internet Does Not Go, or just hate fun, one of the most recent worthwhile, genuinely funny memes in our post-meme internet features a silly-looking Shiba Inu speaking in an understandable-but-broken English. The meme, referred to as “doge,” and associated doge-speak tends to be used derogatorily — using a barely comprehensible language is an effective method of satire — but it’s difficult to discern if Dogecoin was deployed with the total intent of satire, rather than also hoping it would take off.

Doge graph

It appears Dogecoin is a real (insofar as any digital currency — or currency, for that matter — is whatever “real” means) digital currency for which you can mine using a computer. In this case, though, you’re digging using a doge house, because there’s still humor left in the world.

Like Litecoin, Dogecoin uses a type of encryption — Scrypt — that means it cannot be efficiently mined using ASICs. It also seems that the Shiba Inu currency’s wallet is based on Luckycoin, a virtual currency that has a chance to add a multiplier to the reward for solving a block when mining.

Though the Dogecoin community appears to be using the canine currency mostly as a way to satirize the popular cryptocurrency scene, a few exchanges and offers have recently been made, setting the price of one Dogecoin at around 1/100 of a cent, or 10,000 Dogecoins per dollar. Technically, if a virtual currency is obtainable and people are willing to make exchanges for it, then that can lead to a more viable exchange rate, which in turn can lead to the scene growing in popularity.

Currently, the only thing Dogecoin really has going for it is humor, but levity can go a long way. If enough people mine and exchange Dogecoins as a joke, then people are still using it as a currency, and that could lead to it becoming viable for more than just a laugh.

Until then, plz dig for much coins.

Now read: $6.5 million in Bitcoins are sitting in a landfill in Wales

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