Hey folks, I'm trying to get back to my basics, where all the fun stuff happened when I decided nearly two years ago I wanted to be some Crypto asshole on the Internet. I'm gonna relive the glory days and do a brand new coin review... which has probably been done a million times.
I'm a late bloomer. Always late and never on time. The ladies don't seem to mind it though.
Yeah, depressing. BUT we are here to talk about Dogecoin, which is - strangely enough - a bigger joke than my love life.
DOGECOIN. BECAUSE CRYPTO CAN BE FUNNY.
Before the advent of BANANO, there was proto-meme economy in the still fledgling wild west we know as the Crypto Space today. In these days, there was Bitcoin. And Litecoin. And... wasn't ETH a thing then too?
A couple of software engineers named Billy Markus and Jackson Palmer decided to do the one thing that resonates with my heart. They made a joke Cryptocurrency. They were smarter about it than I was. These guys came from IBM and Adobe, respectively and created a functional joke. No, it wasn't a physical blockchain written on cardboard, or a coin that attempted to monetize salty butthurt on the Internet, or permanently writing "JUSTIN SUN GARGLES MAYONAISE FOR A LIVING" on the Tron Blockchain, or attempting to build value by making people go through unending cycles of being a fat asshole to being a skinny asshole.
No. They did something better. They made Dogecoin.
Technically speaking, Dogecoin is a hard fork of Litecoin, and as a result is a PoW (proof of work) cryptocurrency. It is fairly standard in that respect, with the major difference being the total supply of well, there is no total supply cap. The real story is the journey this freaking joke of a coin went through. It went from being a relatively well known joke to HOLY SHIT YOU CAN BUY A GODDAMN TESLA WITH IT NOW.
I actually remember when some anonymous users on 4chan actually airdropped come coins to folks. If I knew now what I didn't know then, I would have definitely jumped on the bandwagon. Not long after its release in 2013, it managed to skyrocket in value by 300 percent! Imagine being one of those early adopters and immediately shitting your pants at the gains! I imagine those same folks had a stroke in 2018, and an absolute Code Blue in 2021. For those of you keeping track of it, Dogecoin reached 0.50, which was nearly 20,000 percent increase in a year.
But... there is one thing I don't like about Dogecoin....
GODDAMNIT, ROCKET MAN.
Elon "MotherFucking" Musk. I'm about to get some serious hate, and I know it even as I type this. Musk is a superdy duper Celebrity Entrpreneur that everyone looks up to and absolutely loves. The media's bread and butter is to fellate this man any chance they get, even when he is doing retarded shit, like Pawning off his worthless [Solar Company onto Tesla Stockholders] (https://fortune.com/2021/07/13/elon-musk-tesla-solarcity-acquisition-trial-testimony/)and then potentially being up the shit creek if he ends up losing the subsequent TWO BILLION DOLLAR LAWSUIT. During which, if we believe the transcripts, is being a total asshole during deposition.
I could go on, and honestly, that's not what I'm talking about. I'm talking about Dr. Vaporware's constant shilling of Dogecoin, thereby ramping up the price with nothing but hype. I think it's a rather bad thing to have an asset - even a joke asset - be artificially inflated by nothing more than popularity. It's a formula for disaster, especially if you want your coin to be taken seriously and have a good use case. But that's just my opinion on it.
I don't think the guys who made this coin actually expected it to be as large as it is, but I'm also sure they're not complaining. With a market cap of over 30 BILLION dollars, it puts every joke I made for money to shame. That's some serious dough, and I'm sure Bill and Jack are having a hearty laugh as they renovate their wine cellars.
MY FINAL ASSHOLE WORD
Doge is fun. Much Happy. But as an investment instrument, I see it as nothing more than a fad that is pumped in popularity by some rich dude. Having said that, the fun portion of the crypto is definitely a great way to approach mass adoption, and the crypto space is increasingly becoming more mainstream every day because of that. So, I can handle it. Doge! WHoooooo! Maybe I'll buy some and do some day trading with it. Volatility makes that super easy.
BIG THANKS FOR READING, EVERYONE! I'm happy to be back in action and spending some time talking about crypto again.