March 1, 2014 in Dogecoin
One thing that I have become especially fascinated with in the past few months is?Dogecoin. Now, you may be thinking, "But its a joke right?" What started out as a joke has become a real currency that people are using, and taking to the moon. Here's why.
The first reason that dogecoin will succeed is because of the high volume of coins. Unlike Bitcoin, which will have ~21 million coins in circualtion, Dogecoin will have over ~100 billion! Because of the higher volume, each coin is worth less, making them easier to spend in non-fractional amounts. The lower value also makes them great for tipping (I'll get to that later).
My second reason is because it is so accessible. Dogecoin is a thing that people are passionate about. People want to get involved, and are. The dogecoin subreddit has exploded in the past month, making the top 50 last month. Because so many people are involved and excited about it. apps are being developed left and right. Countless web stores have begun supporting dogecoin payments, and exchanges are beginning to trade dogecoin for dollars and euros. Dogecoin is beating other alt-coins becuase it is being supported by a great group of developers.
My last (and most significant) reason is because of the community. Like I mentioned earlier, the community, especially on?Reddit, has exploded. We now have tipping bots onReddit,?Imgur,?Twitter, and?Facebook! There has never been an easier and more fun way to get into cryptocurrency. The community is just as fun as its mascot, and is itching to get more people involved. Even if the value never makes it to the moon, I can assure you, the community will!