Dogecoin (also known as Dodgycoin) is another shitty Bitcoin knockoff. It was introduced to the Internet on December 6th, 2013, and became favored by Shiba Inus worldwide because apparently, dogs care about human space bux.
Somewhere around mid-2014, Dogecoin found its way into 4chan, particularly its third crappiest board (ranking only behind /v/ and /mlp/, yet again adding another form of cancer into the site, creating a network for dogecoin trades - beg threads bumped by faggots who think they can acquire currency by clicking around on the internet. Now at least one bitcoin/dogecoin or steam-begging-thread can be found active on /b/ at any given time, which comes as no surprise!
For those who actually have a job and don't spend all day on the Internet, Dogecoin is named after Know Your Meme's "Best Memes of 2013: Editorial Choices," Doge. The cryptocurrency is programmed by a former IBM engineer who never heard about memes, but when someone suggested Dogecoin, he went with it. While he had an interest in virtual currencies, he distanced himself from Bitcoin due to its association with Silk Road and other controversies, failing to realize Doge was popularized by a bunch of drug addicts.
Dogecoin's true purpose is to get people to spam the Doge meme everywhere so it becomes 2014's Most Hated and Unfunny Meme of the Year.
A glimpse at news headlines and postings by currency holders confirms that Dodgycoin off to a good start.
Those who can't afford to purchase a coin for $0.0006 but aspire to become a dogillionaire can still pack their Dogewallet with Dogecoins by visiting an online
- Is it unfunny yet?
Due to the nature of virtual currencies, governments are unable to regulate them, so if someone's Dodgycoins get stolen, they're out of luck. For all intents and purposes, Dogecoins have the same worth as vaporware. However, since it was named after a popular meme, clueless people opened up their wallets, eager to invest.
When Dogecoin was first introduced, many thought it was nothing more than an Internet prank. A couple of weeks after its introduction, the value had decreased by 80% due to exploits in how new coins are generated. Most who purchased Dogecoins never heard of the thousands lost by others when sites that function as "online wallets" for Bitcoins were either hacked or shut down without warning.
With a currency less than a month old and a bunch of clueless
usersinvestors, what could possibly go wrong?
In an epic troll move that made the Grinch himself smile, this question was answered on Christmas Day. Someone managed to find a security hole in Dogewallet, where many stored their precious Dodgycoins. The hacker stole around 30 million space bux, worth about $12,000, earning him the distinguished honor of being the only hacker to steal less than what a part-timer at Burger King makes in a year.
After doggywallet.com was compromised, it was shut down along with its Facebook and Reddit accounts, a reasonable and totally unsuspicious move. Those who purchased coins "for the lulz" were suddenly taking Dodgycoins as serious business, much to Bitcoin's amusement. Doggywallet blamed users for storing large amounts of coins on its site, stating the currency should have been stored offline instead. In layman's terms, the web developers didn't know jack about security.
Still not having a clue, "investors" began posting email addresses, usernames, and other account information for all to see on Dogewallet's new Reddit page. Conspiracy theorists speculated this was an inside job, others panicked and some threatened lawsuits, proving the only joke here is everyone involved. At least now people take fake money...er...Dogecoins, seriously.
—sohaibk, THANKS FOR SHARING!
After Dogewallet was cracked, those hoping to make serious money from Dogecoins saw the value of their investment drop by 25%. In an effort to restore faith in the cryptocurrency, Save Dogemas was launched with the stated goal of reimbursing those whose Dogecoins were stolen. Naturally, investors are cheap, so they created a website and Reddit page to beg the "community" for donations. Showing just how generous the investors are, they founded a group was that pledged to donate a whopping 1% of coins that are mined. It is safe to say the Grinch has experienced a very merry Christmas.
—Dogecoin co-founder Billy Markus, who is an idiot
Below are some videos, a couple of them show how to mine Dogecoins. Go ahead, get in on the cryptocurrency action, we'll laugh at your ignorant ass when they vanish into cyberspace.
- Is it unfunny yet? :D
- removed posts: 1, 2)
- Inside the world's first-ever Dogecoin party
- CRY MOAR
- "Such Hack. Many Dogecoin. Very Disappear. So Gone. Wow." - TechCrunch
- "Joke no more: Comedy virty currency Dogecoin gets real in big Xmas heist" - The Register
- "Hackers stole millions of dogecoins on Christmas" - Daily Dot
- "'Save Dogemas' Campaign Looks to Recover Stolen Dogecoin" - International Business Times
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