Well you’re in for quite a treat. Dogecoin and other cryptocurrencies are an amazing development. Cryptocurrency has been around for years and has perpetually increased in value. Anyone can make money at home with the computer they already have, or even build their own rig. Mine doge coin, vertcoin, litecoin and more!
Dogecoin describes it as being “an open source peer-to-peer cryptocurrency, favored by Shiba Inus worldwide.” This honestly sums it up inlaymen’s terms. Basically you run a program that solves blocks of data containing dogcoin, or your other favorite cryptocurrency. These can then be exchange for other currencies, even bitcoins and USD!
But before we get into that, some more technical background may be needed.
Bitcoins, the big name money maker, came out with it’s revolutionary SHA-256 cryptocurrency. Essentially many people combine their computing power to solve, verify and record payments into a public ledger in exchange for transaction fees and newly minted bitcoins. Users send and receive bitcoins using electronic wallets onine or on a personal computer/device. From it’s slightly nefarious beginnings, it’s popularity grew. More and more developers came out with their SHA-256 cryptocurrencies. Soon special hardware was developed to mine bitcoins and these other currencies at speeds thousands of times faster than the standard graphics card (GPU).
Other cryptocurrencies that are “scrypt” based soon began hitting the community, one being dogecoin. The popular meme received heavy popularity in the online community and began explode in cyberspace. The community wanted to focus on helping others and get away from the image bitcoin left on cryptocurrencies for many people. Sponsoring the Jamaican bobsled team, building a NASCAR, and various donations and community philanthropy are all examples of dogecoins value and character. People who mine the currency and are active are called shibes, and will go to great lengths for their cryptocurrency.
Dogecoin started as a way to tip people on social media and other sites for interesting content, comments and various other noteworthy internet activity. Since then it gained traction in online trades for other currencies, such as bitcoins, and even USD. The future for the coin, and other cryptocurrencies, is unclear. However, the only place to go is up, and I personally have been making a respectable profit.
As the shibes say TO THE MOON!