Dogecoin (DOGE) Is One Of The Best Cryptocurrencies, GenesisBlockNews Would Not Exist Without It
Dogecoin (DOGE) is one of the best cryptocurrencies out there, and if Dogecoin did not exist, GenesisBlockNews would not exist either. Without a shadow of a doubt, Dogecoin is what got me into the crypto space. Before I tell that story, let me explain the merits of Dogecoin.
Most cryptocurrencies nowadays launch with an initial coin offering (ICO) or pre-mine, and in both cases the developers take a large amount of coins for themselves out of greed. This ruins the coin supply and market long term. Dogecoin is one of the only cryptocurrencies to have zero premine. From the day Dogecoin launched it was an honest competition between miners, traders, investors, and workers to obtain Dogecoins. As far as I remember, the creator of Dogecoin, Jackson Palmer, does not have more Dogecoins than any other early adopter.
The fact that Dogecoin uses Scrypt proof of work (PoW) enabled people on personal computers to mine Dogecoin, versus Bitcoin which could not be mined on a personal computer, even way back when I started in 2014. Further, Dogecoin has always had a relatively low USD value per coin, so miners can earn entire Dogecoins, if not hundreds to thousands of Dogecoins, via mining and faucets. It feels a whole lot better to earn entire Dogecoins, versus minuscule fractions of Bitcoins, and this is the sort of thing that gets new crypto users excited enough to dive deeper into the space.
The lack of premine and favorable mining conditions allowed Dogecoin to develop one of the healthiest crypto communities; one of the community’s main hubs is r/dogecoin. The community on r/dogecoin, and other chat sites and waterbowls, has always been very friendly and generous. At least back when I started in 2014, Dogecoin was known as the crypto for tipping, and this fostered a healthy environment of content sharing and collaboration. Compare this to the Bitcoin community, which practically never tips and is often very aggressive to each other. Not talking down on Bitcoin, basically Bitcoin is aggressive like New York City, and there is a purpose for that and nothing wrong with it, while Dogecoin is like Wisconsin and very friendly.
All of these positive factors is why Dogecoin is sticking around as a major cryptocurrency long term, currently with a market cap of USD 250 million even in this ‘nuclear’ bear market. When the crypto market finally does go to the moon, Dogecoin will definitely be along for the ride.
When I was but a young shibe, Dogecoiners taught me how to mine my first Dogecoins, skills which I later used to mine dozens of different cryptos. Dogecoiners taught me how to exchange Dogecoins for fiat on r/dogemarket, which would later become a real enterprise for me as it expanded into Bitcoin dealing. Without the training and experience on r/dogemarket I would have never had a chance at being a Bitcoin dealer. Also, the tipping rewards for good content on r/dogecoin motivated me to become a crypto journalist, which is now my career, and allows me to provide a stable home for my wife.
Essentially, Dogecoin is a friendly gateway for the crypto space, and without Dogecoin I would probably be stuck working a physical labor job, instead of using my intellect to its maximum capabilities. Dogecoin and crypto in general provides the freedom to do any job or business you are capable of, and the friendly helping hand of the Dogecoin community is what made me realize that. For many people their crypto experience starts with the friendly shibes of the Dogecoin community, and then quickly becomes a serious career.