Dogecoin Is Yet Another Cryptocurrency

In November this year, Bitcoin’s significant rise in value, soaring past the $1,000 mark, has certainly got plenty of people talking about it, with some hoax sites coming up that caused some Mac users to reformat their machines out of greed and ignorance. Well, being a cryptocurrency itself, it goes without saying that this is one category of items that are all set to be hot in the years to come ahead. Dogecoin could be one of them, although at this point in time, it does seem to line up to be more of a satirical dig at cryptocurrency than anything else, despite being valued at $0.00025 right now.

Cryptocurrencies will continue to be volatile, and the price would correspond with only what ordinary folks are willing to fork out. After all, the number of coins which can be mined are finite, which means it is expected that they will continue to grow in their value. Governments are not making life easy for cryptocurrencies though, as they have posed limitations and bans on financial institutions as well as their involvement with Bitcoin transactions, making the future extremely uncertain. No idea on what will eventually happen to Dogecoins, but there is a cap of 100 billion Dogecoins, which means each Dogecoin would be worth a whole lot less than (the 21 million capped) Bitcoins around.

Edwin Kee
Categories: Computers
Tags: bitcoin