What's the Deal with Dogecoin?

An oversimplified look at the reason your nerdiest friend is rich now.
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 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 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.
Scroll down for the next article

Must Read

VIRAL ON CRACKED

A WEEKLY
NEWSLETTER OF
JOKES + TRIVIA

Forgot Password?