Punch Bitcoin, Kick Ethereum: The beginning and end of Dogecoin's path to the gods « Naijatechnews

Punch Bitcoin, Kick Ethereum: The beginning and end of Dogecoin’s path to the gods

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In 2020, what is more valuable than buying a house, and more profitable than buying Bitcoin? Stocks? Fried shoes? Fry the blind box? NONONO.

Don’t even think about it, the little guy, just reveal the answer: Dogecoin.

You must not believe it. Five years ago, you bought 16 for 1 cent and gave away the tattered Dogecoin that others were too lazy to ask for. In this year, the ultimate leap in life was achieved. That leap was 4,416 times the value, a 400-fold increase in one year.

Fighting Ethereum, kicking Bitcoin, and creating a new miracle in the currency circle.

Punch Bitcoin, Kick Ethereum: The beginning and end of Dogecoin's path to the gods

Use a line chart to show the increase of Dogecoin, which is a 90-degree straight line to the sky. 0.0006 cents rose to 2.65 yuan, which is more exciting than stocks on the eve of the 2008 financial turmoil, which perfectly interprets the term “horror like this”.

Punch Bitcoin, Kick Ethereum: The beginning and end of Dogecoin's path to the gods

(Dogecoin price increase)

It’s no exaggeration to say that if Brother Bie spent a few thousand dollars to buy Dogecoin at the beginning of the year, now the down payment for a house has already arrived. Many Weibo netizens even cried bitterly, regretting that they didn’t start at 0.3 cents.

Seeing the native dog turned into Luo Qin, he missed the opportunity to make a fortune and he regretted it.

 

More than 30 years ago, Xu Guanjie sang: Sometimes there must be life in life, and there is no time to force it in life. Brother, let’s face it, who knows whether to enter the market is to be a leek or to get rich.

The essence of coin speculation is gambling. Maybe when you take over Dogecoin, there will be a big sell-off. The price will be negative for you in one day, so cry for you.

 

Of course, in the vast online world, there is no shortage of the chosen ones. For example, the following netizen who knows that he bought 100,000 Dogecoins in 2014, which is about 60 yuan for two meals based on the currency price at that time.

As of today in 2021, 100,000 Dogecoins are worth 265,000 RMB, making them crazy directly.

 

How much house price has only risen in a year, 30% is considered super high, right?

Dogecoin took 6 years to turn 60 yuan into 260,000, and the appreciation rate crushed real estate, and selling lottery tickets did not make such huge profits. So what is the origin of this Dogecoin that created the myth of wealth in 2021? Why did it soar in a short period of time?

Out of this curiosity, Brother Beep went to learn more about it, and found that Dogecoin is really funny and absurd.

Coin Circle Clear Dogecoin

The real name of Dogecoin is “Dogecoin”, which is literally translated as “Dogecoin”, also known as “Dogecoin”. Because the repetition of words is more cute, netizens prefer to call it Dogecoin, which seems intimate.

The name sounds funny and full of meaning, but it is the second largest virtual currency in the world after Bitcoin. Before the big fire in 2015, the number of users had reached 1.5 million. After becoming popular in 2021, there is a high probability that it will exceed 10 million.

The official website’s explanation of Dogecoin: an open source peer-to-peer digital currency.

 

To put it bluntly, it is encrypted currency, which belongs to the same type as Bitcoin and Litecoin, and can bypass banks, financial companies and other institutions and transfer funds directly to personal accounts. We usually use WeChat to transfer money. The money will not be transferred directly to friends, but will be transferred to friends after being transferred through payment platforms and banking platforms.

So we can check the flow of funds in WeChat and banks, and even intercept the money in the transfer.

Cryptocurrency eliminates all intermediate links and does not require platform supervision and authentication. You and your friends face-to-face transactions, which is so-called peer-to-peer, and no one knows the transfer amount except you.

Thanks to their confidentiality and concealment, Bitcoin and Litecoin have become soft currencies that are more popular than gold in the black market, and new weapons for money laundering.

Punch Bitcoin, Kick Ethereum: The beginning and end of Dogecoin's path to the gods

The biggest difference between Dogecoin and other cryptocurrencies is that the purpose of its birth is not to hype, not to make money, and not to become a world currency. Just to mock the cryptocurrencies that wantonly cut leeks, ridiculing the absurdity that they soared several times overnight, cut in half in a short time.

In 2013, speculators raised funds to speculate in Bitcoin. The little guy who had been left in the corner of the Internet for many years turned into a darling of capital. Bitcoin’s ability to make money out of thin air, and the concept of blockchain and cryptocurrency suddenly became popular, and a large number of messy altcoins emerged in the world.

Future Coin NXT, Infinite Coin IFC, Prime Coin XPM, Molecular Coin MOL, Apple Coin APCCOIN, etc. There are also quark coins, zeta coins, red coins, invisible gold bars and other weird things to join in the fun in the country.

They are collectively referred to as “altcoins”, as the name suggests, unknown cryptocurrencies copied from altcoins.

How easy was it to issue coins at that time?

Find a programmer to copy and paste other people’s underlying protocol, rent a website, make up a story and put it on, a new concept of cryptocurrency is born!

Next, do a good job of promotion, attract more people to take over the new currency, and then enjoy the life of lying down and collecting money. Therefore, in 2013, the Cambrian, called the cryptocurrency, exploded in a blowout, with various names and a mixed bag.

Dogecoin can be said to be a well-deserved “altcoin among altcoins”.

No matter whether it is external image or internal code, there is no originality, and it depends on copycats from the inside out.

 

On the day Dogecoin was officially launched, Jackson announced the news on Twitter. Thanks to the accumulated heat, he brought more than 1 million users in less than a month.

Most netizens bought Dogecoin because they thought it was fun and shared it with more friends. For a while, the name of Dogecoin echoed in the crypto circle and currency circle forums.

Originally relying on a large user base, Jackson and Marcus made a big fortune and easily lived a life of big fish and meat.

However, they treat Dogecoin purely as a joke, there is no idea of ​​making a profit, and they don’t want to be the second Bitcoin. Therefore, the number of Dogecoins is set to 100 billion to discourage speculators with a huge amount.

Later, because of fear of malicious manipulation of currency value and malicious investment, the quantity limit was directly changed to unlimited. As long as you are willing to mine, you can have as many as you want. The possibility of Dogecoin’s appreciation due to deflation is completely eliminated, the potential for speculation is completely lost, and the price has been lower than 0.0005 cents for a long time.

Jackson and Marcus did not rely on the founder’s innate advantages to pre-mine a large number of Dogecoins in advance.

The reason for doing this is to emphasize one thing: Dogecoin is not a currency, not a financial product, but a virtual gift (tip) for rewards, a way of expressing gratitude and sharing.

Punch Bitcoin, Kick Ethereum: The beginning and end of Dogecoin's path to the gods

The king of the currency circle

Musk has many nicknames, including Silicon Valley Iron Man, Master of Mars, Rocket Blasting Expert, Desperate Car Driver, etc.

In this year, he has another legendary title, “the king of goods in the currency circle”, and his ability to carry goods beats Li Jiaqi and crushes Wei Ya.

Others bring goods and sell things with practical value, such as lipsticks, snacks, and electrical appliances.

Musk does not take the usual path, only promotes cryptocurrencies, especially Dogecoin, and the way to bring the goods is very strange: Twitter marketing.

In early February, Musk tweeted a picture of himself holding up the dog high, accompanied by a simple greeting.

As a result, Dogecoin has skyrocketed, and it has risen by 2.6 times in just one day. You must know that Dogecoin is unlimited, you say it’s not outrageous…..

Punch Bitcoin, Kick Ethereum: The beginning and end of Dogecoin's path to the gods

On February 24, another picture of Dogecoin landing on the moon was posted. Without saying anything, Dogecoin rose by a large amount that day.

Punch Bitcoin, Kick Ethereum: The beginning and end of Dogecoin's path to the gods

According to statistics, in February, Musk sent 5 consecutive tweets, and Dogecoin rose for 5 consecutive rounds, breaking the highest price in history for 5 consecutive times.

Forcibly pushed Dogecoin from worthless to 50 cents, with a market value of more than 10 billion U.S. dollars and 70 billion yuan.

April was even more exaggerated. It took about 4 days and the 4 cents Dogecoin was forcibly raised to 2.6 yuan by Maskra.

Punch Bitcoin, Kick Ethereum: The beginning and end of Dogecoin's path to the gods

It has increased by 4 times, and converted to an average increase of 1 time per day, have you seen such crazy cryptocurrencies?

Musk, the well-deserved leader of the currency circle, earns money faster than the Federal Reserve’s money printing machine. I would call it: the ringgit king.

However, don’t see the trend of Dogecoin is good, the little friends rush into the market with their pockets. The high probability of welcoming you is not getting rich, but taking the market.

Punch Bitcoin, Kick Ethereum: The beginning and end of Dogecoin's path to the gods

There are two reasons why Bie is not optimistic about Dogecoin:

One is that its future depends on Musk’s mouth. People say that it is good to rise, and that it is bad to fall, and it is up and down.

To put it bluntly, Musk is the KOL who is waving the flag and charging ahead, and the followers are holding a gamble mentality.

I hope that a fool believes in Musk’s nonsense, and rushes in to take the last wave of leeks. When they suddenly clear the stock and the flag becomes a sickle, the retail investors who follow the trend will surely succumb to the wild and die.

 

The second is that Dogecoin does not have hype properties. Like Bitcoin, the annual output is halved. The more you dig, the less, and the total amount is limited.

It is completely applicable to the principle that the rarer is the most expensive. The rarer the greater the value of the collection, but it is not suitable for Dogecoin.

The unlimited supply is increasing at an average annual rate of 5 billion pieces, and the total amount currently exceeds 120 billion pieces.

Use limited funds to increase unlimited cryptocurrencies? The fantasy is absurd.

Only the top ringgit king in the science and technology circle, relying on his own influence, called on the fart people to make a high wave in a short time.

When the heat dissipates and the ringgit king no longer supports Dogecoin, everything will return to its original state.

Brother Bip still said the same thing. For projects that are tied to cryptocurrency, bet if you cheat, don’t touch it.

There are coin rings and sickles everywhere, and they will become leeks when they enter the pit.

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