Doge 10 dollars
In January, crypto traders fantasized about DogeCoin hitting 10 cents. On Wednesday, it made it to 69 cents. DogeCoin started as a joke cryptocurrencies , but this week's rise in price is nothing to laugh at. The altcoin hit a record 69 cents Wednesday morning, flying past its previous high of 43 cents back in April.
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Content:
- Will Dogecoin Ever Reach $100?
- Dogecoin And Avalanche Fight For Top 10 Crypto Spot – Dogecoin – United States Dollar ($DOGE)
- Confused About Dogecoin? Here’s How It (Doesn’t) Work.
- Can Dogecoin Reach $10?
- Dogecoin price prediction: is it set for a new rally?
- Why did Dogecoin plummet over the weekend? Here are the latest updates
- Will Dogecoin Hit $1? Creator Billy Markus on How It's Possible As Price Goes Up
Will Dogecoin Ever Reach $100?
To understand what dogecoin is and whether it is a safe investment, it helps to understand why cryptocurrency was even created in the first place, starting with Bitcoin. Understanding the initial ethos behind the crypto movement and what solutions it seeks to provide our society are questions one should understand before investing in any crypto asset.
If you're interested in pure speculation and taking a risk, then Dogecoin may be for you, but if you want to understand the real purpose behind the movement, you may want to consider alternatives. Bitcoin came about during the fallout of the financial collapse, and while other attempts at digital money and e-cash had been made before, its story largely begins there.
Subscribe to our premium newsletter - Crypto Investor. In , retirement accounts were flushed away as banks took on exceptionally large amounts of risk through the use of mortgage-backed securities and rehypothecation of collateral, building an unsustainable house of cards.
As it became clear that banks did not have enough cash to handle their bets going sour, the positive sentiment in the market evaporated. People began panic-selling their portfolios. Those who were nearing their retirement years and did not have the time to wait around for an economic recovery lost decades' worth of saved up retirement money. It became evident that something or someone had to stop the slide and board up the sinking ship.
But how? A narrative started to surround the banks about their alleged "too big to fail" nature. The unfortunate reality is that this was true. The economy had been built up with straw and the bank's practice of derivatives of derivatives tumbled like dominoes until the straw house collapsed. If any more banks were to fail the global economy would surely continue free-falling.
The solution? Government intervention in an otherwise capitalist and free-market economy. The band-aid that would stop the economy's bleeding was to bail out the banks with taxpayer money. In other words, the citizens paid the price for the bad decisions that these banks made. According to a review of the bailouts that occurred in the United States by Deborah J. Lucas, an MIT Sloan distinguished professor of finance, those who benefited from the bailouts were the institutions, rather than the citizens.
While their exact identities have not been made public, most are likely to have been large institutional investors such as banks, pension and mutual funds, insurance companies, and sovereigns. The value and purchasing power of the dollar has since been diminished due to the excess pumped into the market with this type of quantitative easing, especially since the recent stimulus in wake of the pandemic.
While the drastic increase of money supply can help to boost stock markets, prices of real estate, goods and services, it also lowers the purchasing power and distance a dollar can go. Those who make the same salaries every year or live paycheck to paycheck can get crushed by the increased prices of things they could previously afford. This is where Bitcoin comes in. Bitcoin looked to provide solutions to a series of technical and philosophical questions that society faced regarding how we use money.
Who controls money in the first place? Who controls how large the supply is or if the supply should be expanded? Should a central authority be able to cause inflation through money creation or interest rates? Who decides who can access financial products like bank and brokerage accounts? Who decides where individuals are allowed to spend or use their money? Why isn't our money more efficient? In the past, the assumption has always been that these things are just taken care of by the government and central banks.
Bitcoin took another route. With Bitcoin, the questions asked above would all be addressed by the collective of its users. In other words, it is a currency created for the people and governed by the people, with zero central points of control. Bitcoin looked to give economic empowerment and autonomy to anyone who wanted access, for better or worse.
Many have debated the totally open nature of Bitcoin and its potential for illegal use, but one could argue that the freedom, transparency and cumulative good it can provide our society far outweigh its negative use-cases. In terms of supply, it was decided that the quantity of Bitcoin would be capped so that its purchasing power would not be decreased as the dollars does. Over time, the users of the network grew significantly making it stronger and stronger.
Now, it has become a global network of users that is controlled by the people rather than any bank or government. Dogecoin was born out of the legendary doge meme and crypto movement at a time when cryptocurrency was slowly picking up pace in It was built using existing open-source code from Litecoin and other projects, with added tweaks. It is similar to Litecoin except that it does not have a maximum supply. In fact, Dogecoin miners earn 10, Doge per block and blocks are created every minute.
This means that each day 14,, new tokens flood into the wallets of miners or are sold into the market. In a recent interview with Insider, Dogecoin's co-creator, Billy Markus, said that "The original intent was a parody of all the 'serious' clone coins that were trying so hard to differentiate themselves, but all seemed the same.
Dogecoin was just another clone coin, but instead of taking itself seriously, it was just Dogecoin. It's important to keep in mind here that one of Bitcoin's primary features and purposes was to stop the inflation and decreasing purchasing power that occurs with the dollar and to create a new system where that does not happen.
Much of Bitcoin's current value is derived from its scarcity and finite supply. In contrast, Dogecoin's supply is quite literally, infinite. In the current market, Dogecoin miners are making a killing as speculation and meme culture has driven its price to inexplicable levels. A miner or pool of miners can earn 10, Doge for solving a block. Another factor to consider is decentralization. Decentralization is what gives Bitcoin its security.
It is why it works so well as a currency governed by the collective of its users. The level of decentralization of a cryptocurrency can be partially evaluated by the count of nodes in its network.
While there are some other factors that play into this like miner distribution, I will use node count to compare the decentralization of Dogecoin and Bitcoin as I could find little to no data on Dogecoin's miner distribution. According to the block explorer, Blockchair , Dogecoin only has nodes. In comparison, Bitcoin has nearly 10, viewable nodes distributed across 97 countries.
If such an attack were to take place with Dogecoin, it would put holders at risk of losing all value. Another concern with Dogecoin is that very few wallets own the vast majority of its supply. This allows a small handful of individuals to have control over price fluctuations as they can greatly affect the liquidity in the market.
Currently, 0. Relative to Dogecoin, Bitcoin's wallet sizes are very evenly distributed. So if Dogecoin's supply is inflating so much why does its price keep going up? The answer to this is attributed to a number of recent market conditions.
The most obvious reason is due to stimulus and inflation. Stock market prices, real estate, commodities and more have all drastically increased with the influx of money. Another reason Dogecoin's surge has been bolstered is the growing use of finance apps, like Robinhood, by younger generations.
Access to trading and investing has never been so high. With such easy access for younger groups, a new culture has grown and emerged on Reddit and other forums, many of which are focused more on humor than they are on sound investment decisions. The answer to that question is a personal one and based on just how much speculative risk you're willing to take on.
Currently, much of Dogecoin's rise seems to be solely off of speculation and humor. It has certainly provided for good comedy and it has made people money, but the question is now about how sustainable it is.
It is nearly impossible to place fundamental value on Dogecoin with its infinite and quickly growing supply when compared to finite cryptocurrencies such as Bitcoin that are far more decentralized.
There may be a chance that it could continue to grow as long as Bitcoin is in a bull market, but it's a risky chance to take. Learn how Wall Street pros are adding Bitcoin to their portfolios.
News Bitcoin Ethereum DeFi. Home Crypto News. Fast Facts: Dogecoin is a cryptocurrency that was made as a parody of the crypto market after thousands of altcoins were created following Bitcoin. The co-creator of the crypto, Billy Markus , said that "The original intent was a parody of all the 'serious' clone coins that were trying so hard to differentiate themselves, but all seemed the same.
Dogecoin was created using code from Litecoin , which was a fork of the Bitcoin blockchain. The coin has a large supply of over billion tokens with more than 14,, new tokens being made a day.
Bitcoin: A Way to Opt-Out of the Banking Infrastructure Bitcoin came about during the fallout of the financial collapse, and while other attempts at digital money and e-cash had been made before, its story largely begins there.
M2 Money Stock. By Stephen Stirling. Member Exclusive. By Sabrina Toppa. By Michael Bodley. See More.
Dogecoin And Avalanche Fight For Top 10 Crypto Spot – Dogecoin – United States Dollar ($DOGE)
All rights reserved. Charles St, Baltimore, MD So much wow. But Dogecoin holders have had the last laugh. Core to this success was a technical change that developers quietly made, although celebrity endorsements helped.
Confused About Dogecoin? Here’s How It (Doesn’t) Work.
To understand what dogecoin is and whether it is a safe investment, it helps to understand why cryptocurrency was even created in the first place, starting with Bitcoin. Understanding the initial ethos behind the crypto movement and what solutions it seeks to provide our society are questions one should understand before investing in any crypto asset. If you're interested in pure speculation and taking a risk, then Dogecoin may be for you, but if you want to understand the real purpose behind the movement, you may want to consider alternatives. Bitcoin came about during the fallout of the financial collapse, and while other attempts at digital money and e-cash had been made before, its story largely begins there. Subscribe to our premium newsletter - Crypto Investor. In , retirement accounts were flushed away as banks took on exceptionally large amounts of risk through the use of mortgage-backed securities and rehypothecation of collateral, building an unsustainable house of cards. As it became clear that banks did not have enough cash to handle their bets going sour, the positive sentiment in the market evaporated.
Can Dogecoin Reach $10?
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Dogecoin price prediction: is it set for a new rally?
Dogecoin was designed using the codebase of Litecoin and its development was aimed at providing an alternative to Bitcoin. Its most distinct feature, however, is its mascot. Dogecoin was just a little changed when developed as a fork of Litecoin. The most distinct change happened in the brand and it became a driving force behind its popularity. The fun image of the crypto helped the coin to get attention in various social media. The coin turned famous even outside of the community of blockchain technology fans.
Why did Dogecoin plummet over the weekend? Here are the latest updates
ProVsCons dogecoin 10 dollars. Chances are low but not zero. You never know what's going to happen to change the game completely. FunFact about Dogecoin. Its most distinct feature, however, is its.
Will Dogecoin Hit $1? Creator Billy Markus on How It's Possible As Price Goes Up
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The digital currency originally based on a meme - Dogecoin - has taken the world by storm over the past twelve months. During a tumultuous year, the polarizing cryptocurrency has captured public attention right across the globe after posting incredible gains, acquiring various celebrity endorsements, and dominating crypto Twitter and several other internet sub-communities. So what does this all mean for investors, and what are the prospects for this controversial coin? If you're considering buying Dogecoin , read on to see what you can expect from your favorite meme coin for the latter part of In short - yes, it is absolutely possible. But to answer the question more aptly, we need to dive into a few specifics to see whether or not it's a viable target or just another crypto pipedream that will never come to fruition.
By the end of , there will be billion Dogecoin in circulation. Nowadays, Bitcoin is considered as an asset, an investment vehicle to grow money. Therefore, people now buy Bitcoin and hold on to it. The transaction cost of Bitcoin is rising steadily. On the other hand, Dogecoin has promisingly low transaction fees. Moreover, as there are 5 billion coins per year for miners, the Dogecoin transfer fee will remain low.
For the second consecutive day, Bitcoin has breached its all-time high. Following suit, Dogecoin, which originally started as an internet parody over seven years ago surged 85 per cent in a day. The meme coin has breached 10 cents for the first time ever. Why is the Dogecoin price rising?
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