What's the Deal with Dogecoin?

What's the Deal with Dogecoin?

Welcome to “What's The Deal?” Cracked is here with a new weekly feature designed for when you give up and decide to learn what the hell everyone is talking about. This week, we've got a highly simplified briefing on Dogecoin, the investment that nerds on Twitter want you to believe is the key to hitting it big.

WHAT'S THE DEAL WITH: DOGECOIN Dog + Coin = ??? CRACKED.COM Just when you were starting to get enough of a grasp on Bitcoin to end any conversation at a party, suddenly there's a new internet financial darling. Here's the deal with Dogecoin.

WHAT'S THE DEAL WITH: DOGECOIN It's Literally A Joke WOW so meme much popular fame making history such relevanie CRACKEDO CON Billy Markus and Jackson Palmer created dogecoin because they thought people were taking crypto too seriously. (Prophetic!) It's based on the doge meme from the time, like the one above.

Source: Forbes

WHAT'S THE DEAL WITH: DOGECOIN So It's Not Real? CRACKED.co It may have started as a joke, but it is a legitimate cryptocurrency. After all, it's not the bare bones of something that determines value, but what someone will pay. Just ask any 1st edition holo Charizard.

WHAT'S THE DEAL WITH: DOGECOIN So... Cute Bitcoin. CRACKED.COM ...Not exactly. (This is where people usually walk away.) Since Dogecoin was intended as a joke, it doesn't have some of the features intended to keep Bitcoin relevant in the long-term.

WHAT'S THE DEAL WITH: DOGECOIN What's The Diff? GRACKED.COM Some things that separate Dogecoin from Bitcoin: it's easier to mine, it doesn't halve, and it's not finite. Confused? The next two slides should help. And I promise not to say blockchain. Oops.

WHAT'S THE DEAL WITH: DOGECOIN What is Mining CRACKED.COM Highly oversimplified, imagine a dog doing a trick and getting a treat. Now replace the dog with a powerful computer, trick with a complex mathematical equation, and the treat with a bit of crypto.

Source: BitDegree

WHAT'S THE DEAL WITH: DOGECOIN So... Why Doge? CRACKEDed .COM Short answer? It's fun because it's very volatile. You can make (OR LOSE) a lot of $$$ quickly. Long, conspiracy theory answer? The lack of regulation and aforementioned volatility would HYPOTHETICALLY make it an excellent target for someone with a lot of money and influence to buy in bulk, manafacture demand for, and sell at huge profits, in basically a massive scheme in a space the SEC : largely ignores.
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