{"id":794,"date":"2014-01-24T18:53:06","date_gmt":"2014-01-24T18:53:06","guid":{"rendered":"http:\/\/www.opensource.im\/?p=794"},"modified":"2014-01-24T18:53:06","modified_gmt":"2014-01-24T18:53:06","slug":"the-rise-and-rise-of-dogecoin-the-internets-hottest-cryptocurrency","status":"publish","type":"post","link":"https:\/\/euvolution.com\/open-source-convergence\/cryptocurrency\/the-rise-and-rise-of-dogecoin-the-internets-hottest-cryptocurrency.php","title":{"rendered":"The rise and rise of dogecoin, the internet’s hottest cryptocurrency"},"content":{"rendered":"

Video will begin in 5 seconds. <\/p>\n

Jackson Palmer, co-founder of Dogecoin, a cryptocurrency that uses the Shiba Inu dog character from the 'Doge' Internet meme as its mascot. <\/p>\n

Forget about bitcoin. The latest go-to cryptocurrency is called dogecoin, a digital denomination that began life less than two months ago as a jokey tweet made by 26-year-old Australian Jackson Palmer. <\/p>\n

That's true virality. [Dogecoin] grew a mind of its own <\/p>\n

But his joke has now taken on a life of its own. The total value of the market for dogecoin (pronounced dough-je coin) has just topped $US60 million ($68 million) and it has spawned a community comprising thousands of buyers, sellers, merchants, beggars, speculators and \"miners\", the people who mint the money. <\/p>\n

Virtual economics: Jackson Palmer's jokey tweet took on a life of its own. Photo: Tony Walters <\/p>\n

The current value of the bitcoin market is $US10 billion. <\/p>\n

Advertisement <\/p>\n

This week, transactions worth a total of $US14 million were made, including one Chinese investor who bought $US5 million worth of the virtual currency. And on a daily basis dogecoin transactions are outstripping those in the more established bitcoin market, albeit for a smaller overall value. <\/p>\n

Mr Palmer, who is a product manager based in the Sydney office of the software company Adobe, is both amazed and elated by the experience of introducing so many newcomers to virtual economics. <\/p>\n

<\/p>\n

Read the original here:<\/p>\n

The rise and rise of dogecoin, the internet's hottest cryptocurrency<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Video will begin in 5 seconds. Jackson Palmer, co-founder of Dogecoin, a cryptocurrency that uses the Shiba Inu dog character from the 'Doge' Internet meme as its mascot. <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[869],"tags":[],"class_list":["post-794","post","type-post","status-publish","format-standard","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/posts\/794"}],"collection":[{"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/comments?post=794"}],"version-history":[{"count":0,"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/posts\/794\/revisions"}],"wp:attachment":[{"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/media?parent=794"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/categories?post=794"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/tags?post=794"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}