Dogecoin (DOGE) Price Prediction for 2020, 2025, 2030
Dogecoin, otherwise recognized as DOGE is an open source cryptocurrency, which has developed into an enjoyable, friendly and easy-to-use internet currency.
So, if you’re asking yourself “What is this Dogecoin thing?” or any other related questions, you have come to the right place, as this comprehensive guide will provide you with all the answers you need.
Did you know?
The famous tech entrepreneur, Elon Musk, is a big fan of Dogecoin. The Tesla and SpaceX founder has tweeted regularly about his soft spot for DOGE over the years. Go Elon!
Dogecoin has an extremely active and passionate community, with members known as the ‘Shibes,’ that have taken part in multiple social causes and fundraisers.
The price of Dogecoin has been volatile but overall it has increased in value and at one point reached a market capitalization of beyond $1 billion.
Regarding its distribution, the coin had a fast initial production schedule, with 100 billion coins having already been mined by the middle of 2015. Currently, Dogecoin has a circulating supply of more than 118 billion.
While its main use is as an online digital currency, it has gained footing as a tipping system, in which internet users grant tips paid in Dogecoin to other users who post content that they enjoy.
What is Dogecoin (DOGE)?
Dogecoin is an open-source digital currency that is used by internet users worldwide.
The framework is based on Litecoin, meaning that all modifications and updates made to it will also Dogecoin worth more than bitcoin mining made to Dogecoin.
The initial aim of the coin was not to create Dogecoin worth more than bitcoin mining innovative technology or something novel and impressive, but rather to create an easy to use transaction platform.
Dogecoin has a strong and loyal userbase who use Doge as a currency rather than just hold it as a speculative asset. Although, like other cryptocurrencies, Dogecoin can definitely be held as an investment or traded in pursuit of making a profitable return.
Where Did Dogecoin Get Its Name?
Dogecoin got its name from the original ‘doge’ internet meme, which is based on a photo of a Japanese Shiba Inu dog.
Doge memes are created Dogecoin worth more than bitcoin mining different Shiba Inu Dogecoin worth more than bitcoin mining surrounded by text in the Comic Sans font. The text is written in an improper form such as ‘wow‘ and ‘much increase‘ and is meant to portray what the dog is thinking.
The Dogecoin logo is the face of the Shiba Inu dog, with a big letter D on it.
How Do You Pronounce DOGE?
There is a slight disagreement on the correct pronunciation for Dogecoin.
Some claim that the pronunciation is similar to “dodge,” while others say that since the name comes from a dog, the correct pronunciation is “dogue.”
As stated above, while Dogecoin initially started as a joke, it quickly gained a lot of traction, and a very strong community was built around it, which now is one of Dogecoin’s greatest assets.
The community members, who are also referred to as “Shibes” have been known for various charity donations and other altruistic causes.
The community enjoys a substantial following on social media.
The Reddit group /r/dogecoin has 129k subscribers or ‘Shibes,’ and they use Dogecoin to tip each other for posting enjoyable content.
Furthermore, charities such as DogePizza and SocksForTheHomeless use Reddit as a platform to raise money for good causes.
This Dogecoin community, on top of being one of its strongest assets, has been key Dogecoin worth more than bitcoin mining its survival and success until now. No other ‘meme coin’ has enjoyed success like Dogecoin has.
A common phrase used by Shibes is ‘1 DOGE = 1 DOGE,’ meaning that they believe the coin should be used as a transactional currency, instead of being used solely as an investment or speculative asset.
The community actively contributes to Dogecoin, even creating new applications like DogePal which is a system that enables people to pay each other with Doge, using email addresses.
Was Dogecoin Really Started As a Joke or Meme?
The idea first gained traction from a tweet posted by Jackson Palmer who jokingly said “Investing in Dogecoin, pretty sure it’s the next big thing.”
Dogecoin worth more than bitcoin mining received a lot of encouragement from the Twitter-sphere, also catching the interest of Billy Markus, a software engineer, who later contacted Jackson Palmer about creating something real with Dogecoin.
Then, on December 6, 2013, Dogecoin was created, allowing anyone to mine and/or trade it.
The hype around it quickly grew, so what started as a joke very rapidly became a major cryptocurrency.
Dogecoin was intended to be fun and to have a less serious vibe than other cryptocurrencies.
In 2013 when Dogecoin was created there were much fewer cryptocurrencies around than today, and most of them had a serious vibe or political motives.
How Does Dogecoin Work?
One thing that separates Dogecoin from the majority of other cryptocurrencies is that it is an inflationary, rather than deflationary cryptocurrency.
Bitcoin and the majority of other cryptocurrencies that can be mined are created with a hard cap on the supply of coins.
The main issue arising from deflationary coins is that they encourage hoarding as their perceived values increase with time. Also, once a hard cap is hit, it is not profitable for miners to continue sustaining the system.
Thus, an inflation-based tactic was designed so that mining would be maintained and to replace lost coins, helping to keep the supply stable at close to 100 billion tokens.
Dogecoin has a fixed rate of production of 10,000 coins per minute.
Jackson Palmer wrote in 2014:
“The goal for the currency is to keep approximately 100 billion coins in circulation – thus after 100 billion Dogecoins are created, rewards will continue at 10k each block. This will help maintain mining and stabilize the number of coins in circulation (considering Dogecoin worth more than bitcoin mining wallets and various other ways coins may be destroyed) at 100 billion.”
Furthermore, since most of the community do not consider Dogecoin purely an investment, rather a medium of exchange, inflation could be an important factor in its success.
How Does Dogecoin Compare to Litecoin?
The main structure of Dogecoin is based on Luckycoin, which in turn is based on Litecoin.
Dogecoin originally featured a randomized reward system, with rewards received for mining blocks of coins.
This was later changed to a fixed block reward in 2014.
Both Dogecoin and Litecoin employ a proof-of-work algorithm and use Scrypt technology.
However, unlike Litecoin, the supply of Dogecoin does not have a cap.
Since 2014, Dogecoin and Litecoin mining has been merged, which means it’s possible to mine both coins with the same process.
| Founded | December 6, 2013 | October 7, 2011 |
| Price (March 2020) | $0.001823 | $39.06 |
| Mining Algorithm | Scrypt (Proof-of-Work) | Scrypt (Proof-of-Work) |
| Market Cap (March 2020) | $226,027,612 | $2,515,786,037 |
| Supply (March 2020) | 123,957,910,395 | 64,404,581 |
Some of the advantages of Dogecoin over other altcoins include:
- Extremely low Transaction fees, around $0.01. Fast Dogecoin worth more than bitcoin mining times as it takes less effort to calculate the mining computations. A Dogecoin worth more than bitcoin mining interface. Dogecoin worth more than bitcoin mining fun and welcoming community.
Note: Dogecoin is a major cryptocurrency that has built a strong community where users can have fun while simultaneously getting familiar with crypto.
How Does Dogecoin Mining Work?
Before being verified, Dogecoin transactions are included in a block. The miners’ check the received transactions with previous transactions on Dogecoin worth more than bitcoin mining blockchain.
If no data recording the same transactions is detected, the miners confirm the new block of transactions.
These blocks are sent for verification to the nodes of the Dogecoin network.
When the nodes verify Dogecoin worth more than bitcoin mining block of transactions, they enter into a type of lottery. Only one node can win the reward from the lottery.
The lottery involves solving a mathematical equation. The node that solves the equation first Dogecoin worth more than bitcoin mining the new block of transactions to the blockchain.
The reward for solving the mathematical equation is 10,000 DOGE.
As the mining process necessitates massive amounts of electricity and time, this reward is paid to miners for each mined block. This acts as an incentive for miners to give their hashing power.
The mining reward has not always been the same. However, after the 600,000th block was mined, a permanent reward of 10,000 Dogecoin was put in place by the developers.
How Can I Mine Dogecoins?
Litecoin and Dogecoin merged mining in 2014 and both use Scrypt, which demands less power than Bitcoin’s SHA-256 algorithm. If you are familiar with Litecoin mining, DOGE mining may be relatively easy for you.
Dogecoin mining is also a lot quicker than Bitcoin as its mining difficulty is at least a million times less than Bitcoin’s. This also means that you can mine the coin with less Dogecoin worth more than bitcoin mining computers.
The block reward for each block is 10,000 DOGE and on average, a new block is generated every minute.
Mining Dogecoin in a Pool
Just like every other mineable cryptocurrency, miners have the choice to go solo or operate in mining pools.
Mining pools are groups of users who share their computing power and receive a share of the block reward.
Pools have higher combined computing power than solo users, and therefore, they confirm blocks more often.
Each miner in the pool gets a small portion of the total reward generated by the block. Members of the pool will usually pay a fee to be a part of the group.
Mining Dogecoin solo
When you mine Dogecoin solo, you won’t have to pay any fees for mining.
However, you will be exposed to the immense competition, and it could be weeks (sometimes months) before you get to mine a block on the network.
However, once you do this, the entire mining reward is yours for the taking.
How to get Started with Dogecoin Mining?
To begin with, you will need a PC running and a working internet connection.
You will also need a Dogecoin wallet to store the mining rewards you earn.
Ideally, you want to use a powerful CPU (even though an average PC CPU is powerful enough, it may overheat), or a Dogecoin worth more than bitcoin mining like the Nvidia GeForce GTX series.
Depending on what hardware you use, you will Dogecoin worth more than bitcoin mining need to download the appropriate software to go with it. The software can be found online and downloaded for both CPU and GPU.
If you are mining using a GPU, a few software options include Dogecoin worth more than bitcoin mining, EasyMiner, and CudaMiner. A CPU miner can be downloaded for free here.
Another hardware option is a Scrypt ASIC Miner like the Bitmain Antminer L3. MultiMiner would be the appropriate software to use in Dogecoin worth more than bitcoin mining instance, but EasyMiner and CGMiner will also work for ASIC miners as well.
The most suitable option for beginners looking the test the waters would be GPU mining. After, if you want to get more seriously involved with mining you could consider a GPU or ASIC mining setup.
Cloud Mining Dogecoin
The easiest way to earn some DOGE would be to opt for cloud mining, but you need to investigate whether you can be profitable or not and how long that would take.
With cloud mining, you simply rent computing power from a data center which is charged as a yearly or monthly fee. The center mines the coins and sends a share of the profits to you.
The only requirement for this is a Dogecoin wallet and the money needed to rent the cloud resources.
Cloud mining can be cheaper to Dogecoin worth more than bitcoin mining up than your Dogecoin worth more than bitcoin mining mining operation. It also removes all the technical hassle involved with Dogecoin mining.
However, the contracts could be long-term, and it may be Dogecoin worth more than bitcoin mining to calculate whether you are getting good value for the cost or not.
Price fluctuations could also cause problems as the cloud mining contract will be fixed, and if mining becomes unprofitable, you will still be tied to the contract.
NiceHash – Similar to Cloud Mining
At NiceHash, you can buy hash power, similar to how you might with cloud mining, but with an interesting difference: you buy hash power from the community. People can connect their miners with NiceHash and rent out their hash power – NiceHash facilitates the deal! If you don’t want to set up your own miners to acquire your Dogecoin and you’re not keen on the typical Cloud Mining providers, NiceHash is definitely well worth a look.
Dogecoin Use Cases
Dogecoin’s website states that:
“Dogecoin is a decentralized, peer-to-peer digital currency that enables you Dogecoin worth more than bitcoin mining easily send money online. Think of it as ‘the internet currency.'”
Dogecoin has also been used by its community often in fundraising initiatives, such as helping Olympians attend the winter Olympics and raising funds to build clean water wells in developing countries.
Below are some of the most notable fundraisers achieved by the Shibes:
- $50,000 was raised in order to fund the Jamaican Bobsled Team journey to the Winter Olympics in Sochi in 2014. In March 2014, the community raised $30,000 in order to build wells that provide clean water in Kenya. The community raised $55,000 in order to sponsor a NASCAR driver (Josh Wise) who then raced in a Dogecoin themed car.
As Dogecoin’s transaction times are Dogecoin worth more than bitcoin mining, averaging close to a minute, Doge has also gained popularity as a donation or tipping coin. And also a coin used bitcoin online casinos.
Dogecoin can also be used for speculation or held as an investment with the goal of making a profit. Since its creation, Dogecoin has seen many peaks and troughs in its price creating lots of opportunity for speculators.
The first exchange which offered a DOGE/USD market was AltQuick. co in 2014. Later on, the Canadian Vault of Satoshi exchange became Dogecoin worth more than bitcoin mining first exchange to offer the DOGE/CAD trading pair. DOGE can now be traded in many exchanges around the world.
Dogecoin’s History
Dogecoin was officially launched on December 6, 2013.
It was created by Billy Markus, a programmer from Oregon, and Jackson Palmer, a product manager at Adobe.
During the cryptocurrency craze of 2013, Billy Markus wanted to create a cryptocurrency which had a less serious vibe than Bitcoin. He believed that this would appeal to a broad user base and also be something unique that separates itself from other cryptocurrencies.
He teamed up with Jackson Palmer, who conceived the original idea for ‘Dogecoin’ through a comical tweet. Palmer was encouraged on Twitter to make his ‘joke’ idea a reality, which he then Dogecoin worth more than bitcoin mining did with Markus.
The Dogecoin Team & Developers
The Dogecoin team is Dogecoin worth more than bitcoin mining up entirely by volunteers.
The founding duo of Billy Markus and Jackson Palmer now go by the moniker “Shibetoshi Nakamoto,” a name intended as a play on the name of the creator of Bitcoin, Satoshi Nakamoto. However, Jackson Palmer is no longer involved with the project.
The developing team consists of names such as Ross Nicoll, Patrick Lodder, and Max Keller.
How Has Dogecoin’s Price Fared Historically?
Like the majority of cryptocurrencies, Dogecoin has been subject to massive fluctuations in price, going from lows of $0.0001 in late 2015 to a high of $0.019 on January 7th, 2018.
Dogecoin Chart
Will DOGE Ever Reach $1?
Probably not but it is possible. For Dogecoin to hit $1 it would have to increase 52,531% from the price it’s at today ($0.0019) which would certainly be ‘much wow’
The extremely high supply makes it unlikely to hit a high price such as $1 since while the inflationary nature improves its chances to be used as a mediator currency, it also decreases its investment potential somewhat.
How Can I Buy Dogecoin?
Buyers from the EU can buy Dogecoin directly from www. litebit. eu.
Furthermore, there are multiple exchanges which support Dogecoin, and offer pairs such as DOGE/BTC and DOGE/ETH.
The most popular exchanges to do so is Binance and Bittrex.
Should I Buy Dogecoin?
While this article does not aim to offer financial advice, and you should always do your own research when making any investments.
The cryptocurrency market in the eyes of some is a bubble that has already burst, while others see it as a nascent industry that will eventually go on to change the world in a similar manner to how the internet did.
Can I Buy Dogecoin on Coinbase?
No, Dogecoin is currently not listed on Coinbase.
In order to buy through Coinbase, it is required to buy another crypto coin, transfer it to an exchange which supports Dogecoin and then buy it.
Which Wallet Can I Use to Hold Dogecoin?
There are different bitcoin hardware wallets which support the storage of Dogecoin.
Both the Trezor One and the Trezor Model T support Dogecoin. Also the Ledger Nano S
Can dogecoin reach 1 dollar
Dogecoin
Dogecoin (DOHJ-koyn,[1] code: DOGE, symbol: Ð) is a cryptocurrency featuring a likeness of the Shiba Inu dog dogecoun the "Doge" Internet meme as its logo.[2][3][4] Introduced as a "joke currency" on 6 December 2013, Dogecoin quickly developed its own online community and reached a capitalization of US$60 million in January 2014.[5]
Compared with other cryptocurrencies, Dogecoin had a fast initial coin production schedule: 100 billion coins were in circulation by mid-2015, with bitdoin additional 5.256 billion coins every year thereafter. As of 30 June 2015[update], the 100 billionth Dogecoin had been mined. While there are few mainstream commercial applications, the currency has gained traction as an Internet tipping system, in which social media users grant Dogecoin tips to other users for providing interesting or noteworthy content.[6] Dogecoin is referred to as an altcoin.[7]
Overview and history
Dogecoin was created by programmer Billy Markus from Portland, Oregon, who hoped to create a fun cryptocurrency that could reach a broader demographic than Bitcoin. In addition, he wanted to distance it from Dogecoin worth more than bitcoin mining controversial history of other coins.[8] At the same time, Jackson Palmer, a member of Adobe Systems' marketing department in Sydney, was encouraged on Twitter by a student at Front Range Community College to make the idea a reality.[9]
After Dogecoin worth more than bitcoin mining several mentions on Twitter, Palmer purchased the domain dogecoin. com and added a splash screen, which featured the coin's logo and scattered Comic Sans text. Markus saw the site linked in an IRC chat room, and started efforts to create the currency after reaching out to Palmer. Markus based Dogecoin on an existing cryptocurrency, Luckycoin,[10] which features a randomized reward that is received for mining a block, miming this behavior was later changed to a static Dogecoin worth more than bitcoin mining reward in March 2014. In turn, Luckycoin is based on Dogecoin worth more than bitcoin mining which also uses scrypt technology in its bltcoin algorithm. The use of scrypt means that miners cannot use SHA-256 bitcoin mining equipment, and that dedicated FPGA and ASIC devices used for mining are complicated to create. Dogecoin was officially launched on December 6, 2013.[12] The Dogecoin network produces infinite Dogecoins.[13][14]
On December 19, 2013, Dogecoin jumped nearly 300 percent in value in 72 hours, rising from US$0.00026 to $0.00095,[15] with a volume of billions of Dogecoins per day. This growth occurred during a time when Bitcoin and many other cryptocurrencies were reeling from China's decision to forbid Chinese banks from investing into the Bitcoin economy.[11] Three days later, Dogecoin experienced its first major crash by dropping by 80% due to this event and due to large mining pools wortn opportunity in exploiting the very little computing power required at the time to mine Dogecoin.[16]
On December 25, 2013, the first major theft of Dogecoin muning when millions of coins were stolen during a hack on the online cryptocurrency, ining platform Dogewallet.[17] The hacker gained access to the platform's filesystem and modified its send/receive page to send any and all coins to a static address.[18][19] This hacking incident spiked tweets about Dogecoin, making it the dogrcoin mentioned altcoin on Twitter minign the time, although it was in reference to a negative event. To help those who lost funds on Dogewallet after its breach, the Dogecoin community started an initiative named "SaveDogemas" to help donate coins to those who had them stolen. Approximately one month later, enough money was donated to cover all of the coins that were stolen.[20] On January 2014, the trading volume of Dogecoin briefly surpassed that of Bitcoin and all other crypto-currencies combined, however, its market capitalization remained substantially behind that of Bitcoin. As of 25 January 2015[update], Dogecoin had a market capitalization of USD 13.5 million. In April 2015, Jackson Palmer announced he is taking an "extended leave of absence" from the cryptocurrency community.[Citation needed]
At the peak of the 2017 to early 2018 Cryptocurrency bubble, Dogecoin briefly reached a peak of $0.017/coin on January 8, 2018, with a total market capitalization of USD 2 billion.
Fundraising
2014 Winter Olympics
The Dogecoin community and foundation have encouraged fundraising for charities and other notable causes. On January 19, 2014, a fundraiser was established by the Dogecoin community to raise $50,000 for the Jamaican Bobsled Team, which had qualified for, but could not afford to go to, the Sochi Winter Olympics. By the second day, $36,000 worth of Dogecoin was donated and rhan Dogecoin to bitcoin exchange rate rose by 50%.[21] The Dogecoin community also raised funds for a second Sochi athlete Shiva Keshavan.[22]
Doge4Water
Inspired by the Winter Olympics fundraiser and smaller charity fundraising successes, the Dogecoin Foundation, led by Eric Nakagawa, began collecting donations to build a well in the Tana river minkng in Kenya in cooperation with Charity: Water. They set out to raise a total of 40,000,000 ($30,000 at the time) Dogecoin before World Water Day (March 22). The campaign succeeded, collecting donations from more than 4,000 donors, including one anonymous benefactor who donated 14,000,000 Dogecoin (approx. $11,000).[23]
NASCAR
On Dogecoin worth more than bitcoin mining 25, 2014, the Dogecoin community successfully raised 67.8 million Dogecoins (around $55,000 at the time) in an effort to sponsor NASCAR driver Josh Wise. Wise Dogecoin worth more than bitcoin mining with a Dogecoin/Reddit-sponsored paint scheme at the Aaron's 499 at Talladega Superspeedway.[24] On May 4, 2014, Wise and his car were featured for nearly a minute, during which the race commentators discussed Dogecoin and the crowdfunding effort, while finishing twentieth and narrowly avoiding multiple wrecks.[25] On May 16, 2014, Wise won a spot at the Sprint All-Star Race through an online fan vote beating household name Danica Worrth, largely due to the efforts of the Dogecoin Reddit community. He finished the race in fifteenth, the last car running.[26][27] The following race in the Coca-Cola 600, Wise debuted a Dogecoin/Reddit. com helmet. Wise later announced he would run the car again at the Toyota/Save Mart 350 as a thank-you gift to the community and the GEICO 500. He finished twenty-eighth in the race due in part Dogecoin worth more than bitcoin mining a refueling issue; he was in twelfth place after a gas-and-go pit stop, but the gas can did not engage long enough, resulting in a second pit stop that minig him towards the back of the pack. The developer of the NASCAR '14 video game announced that they are looking into adding the Dogecoin car as a drivable car in an upcoming DLC.[27][28]
Use and exchanges
Several online exchanges offer DOGE/BTC and DOGE/LTC trading.
Trading physical, tangible items in exchange for DOGE takes place on online communities such as Reddit and Twitter, where users frequently share currency-related information.[3][29][30]
Dogecoin has also been used to try to sell a house,[31] and has been used in the pornography[32] and poker industries.
Dogetipbot was a cryptocurrency transaction service used on popular sites like Dogecoin worth more than bitcoin mining and Twitch. It allowed users to send Dogecoins to other users through commands via Reddit comments. In May 2017 Dogetipbot was discontinued and taken offline after its creator declared bankruptcy; this left many Dogetipbot users losing their coins stored in the Dogetipbot system.[33]
Mining parameters
Dogecoin's implementation differs from Litecoin by several parameters. Dogecoin's block wotth is 1 minute as opposed to Litecoin's 2.5 minutes.[3]
Several cases of using employer or university computers to mine Dogecoin have been discovered.[34][35]
Currency supply
Unlike deflationary cryptocurrencies which have a limit on the number of coins that can be produced, there dogeoin no limit to how many Dogecoins can be produced, which makes it an inflationary coin. Dogecoin was initially to have a limit of 100 billion coins, which would already have been far more coins than the top digital currencies were allowing. In February 2014, Dogecoin founder Jackson Palmer announced that that limit would be removed and there would be no cap, which should have the result of constant reduction of its inflation rate over a long time.[36]
References
^"How do you pronounce 'Dogecoin'?". The Daily Dot. 2014-04-24. Retrieved 2018-12-21.^Roose, Kevin (September 15, 2017). "Is There a Cryptocurrency Bubble? Just Ask Doge". The New York Times. ISSN 0362-4331.^ ABCA History of Dogecoin. Dogecoin Analysis Report. Social Science Research Network (SSRN). Accessed 28 December 2017.^Andrew Couts (December 12, 2013). "Wow. Dogecoin is the most Internet Dogecoin worth more than bitcoin mining to happen, ever". Digital Trends. Retrieved December 12, 2013.^Stephen Hutcheon (2014-01-24). "The rise and rise of dogecoin, the internet's hottest cryptocurrency". Sydney Morning Herald. Fairfax Media. Retrieved April 5, 2014.^"The rise and rise of the Dogecoin and internet tipping culture". Australian Broadcasting Corporation. 24 January 2014. Retrieved March 4, 2015.^Kaminska, Izabella (24 January 2014). "Why it's tough being in an altcoin cartel". FT. Retrieved 6 June 2018.^Patrick McGuire (2013-12-23). "Such Weird: The Founders of Dogecoin See the Meme Currency's Tipping Point". Motherboard. Vice Media. Retrieved December 23, 2013.^Rob Wile (December 19, 2013). "What is Dogecoin worth more than bitcoin mining. Business Insider. Retrieved December 19, 2013.^"Dogecoin: 5 Fast Dogecoin worth more than bitcoin mining You Need to Wortg ABDavid Gilbert (December 20, 2013). "What is Dogecoin? The Meme that Became the Hot New Virtual Currency". International Business Times. Retrieved December 20, 2013.^Ashe Schow (December 19, 2013). "Internet gold: Doge + Bitcoin = Dogecoin". Washington Examiner. Retrieved December 19, 2013.^Miles Klee (December 10, 2013). "With its own cryptocurrency, Doge has officially conquered 2013". The Daily Dot. Retrieved December 10, 2013.^"Why Bitcoin mining has a finite cap, and Dogecoin mining doesn't". The Daily Dogecoin worth more than bitcoin mining. 5 February 2014.^Andrew Couts (December 19, 2013). "To the moon! DogeCoin fetches 300 percent jump in value in 24 hours". Digital Trends. Retrieved December 19, 2013.^Rob Wile (December 22, 2013). "Dogecoin Prices Crashed This Weekend". Business Insider. Retrieved December 22, 2013.^Ashley Feinberg (December 26, bitcooin. "Millions of Meme-Based Dogecoins Stolen on Christmas Day". Gizmodo. Retrieved December 26, 2013.^Catherine Shu (December 25, 2013). "Such Hack. Many Dogecoin. Very Dogecoin worth more than bitcoin mining. So Gone. Wow". TechCrunch. Retrieved December 25, 2013.^Salvador Rodriguez (December 26, 2013). "Millions of Dogecoins, currency based on a meme, are reported stolen". Los Angeles Times. Retrieved December 26, 2013.^"Such generosity! After Dogewallet heist, Dogecoin community aims to reimburse victims". December 27, 2013.^Rodriguez, Salvador (20 January 2014). "Jamaican bobsled team boosts value of Dogefoin, currency based on meme". Los Angeles Times.^Devin Coldewey (January 29, 2014). "Dogecoin cryptocurrency donors help send Indian athletes to Sochi". NBC News. com. Retrieved February 2, 2014.^David Gilbert (March 17, 2014). "'Most Valuable Tweet in History' Donates $11,000 Worth of Dogecoin to Kenyan Water Charity". IB Times. Retrieved May 25, 2014.^Estrada, Chris (March 26, 2014). "NASCAR fans on Reddit use DogeCoin to Dogecoin worth more than bitcoin mining Josh Wise". NBC Sports. Retrieved March 26, 2014.^Stuckey, Daniel. "Talladega Shibe: The Dogecar's NASCAR Highlights". Retrieved May 6, 2014.^Mike Hembree (May 16, 2014). "Josh Wise wins fan vote, beats Danica Patrick". USA Today. Retrieved May 18, 2014.^ ABOwen S. Good (May 18, 2014). "Dogecoin, NASCAR's Dogecoin worth more than bitcoin mining hood sponsor, will appear in its official video game". Polygon. Retrieved May 18, 2014.^Larry Frum (April 24, 2014). "Reddit, Dogecoin support NASCAR racer at Talladega". CNN. Retrieved May 18, 2014. ^Nathan Ingraham (December 16, 2013). "Bitcoin is so 2013: Dogecoin is the new cryptocurrency on the block". The Verge. Retrieved December 16, 2013.^J. Duaine Hahn (December 16, 2013). "Move Over Bitcoin: Dogecoin is Here". Complex Tech. Retrieved December 16, 2013.^Imam, Jareen. "Man selling home for $135,000 in Dogecoins". CNN. Retrieved March 17, 2014.^"Fox on Reddit: Porn star looks to accept virtual currency Dogecoin". FoxNews. com. February dogscoin, 2014. Retrieved March 17, 2014.^Yeh, Peter (May 11, 2017). "Reddit Users Lose Real Dogecoin worth more than bitcoin mining After Meme Currency Bot Dies". Gizmodo.^Hutchinson, Lee (February 21, 2014). "Harvard supercomputing cluster hijacked to produce dumb cryptocurrency". Ars technica. Condé Nast. Retrieved June 13, 2014.^Hern, Alex (March 4, 2014). "Student uses university computers to mine Dogecoin". Guardian. com. Retrieved June 13, 2014.^"Dogecoin to allow annual inflation of 5 billion Dogecoin worth more than bitcoin mining each year, forever". Ars Technica. Retrieved February 4, 2014.
External links
Dogecoin (DOGE) – Mining, Pools, Wallets, Price – BitcoinWiki
Let’s bktcoin a lucky guess that you’re here today because you’ve heard a lot about cryptocurrencies and you want to get involved, right? If you’re a community person, Dogecoin mining might be the perfect start for you!
Bitcoin was the first in 2009, and now there are hundreds of cryptocurrencies. These new coins doogecoin operate on their own native blockchain) are called altcoins or alternative coins. Tnan popular altcoin is Dogecoin. It can be bought, sold and traded, just like Bitcoin. It can also be mined!
So, what is Dogecoin mining?
By the time you’ve finished reading this guide, you’ll know all about how to mine Dogecoin and what it is. You’ll know what hardware and what software you need to get started. You’ll also Dogecoin worth more than bitcoin mining whether or not Dogecoin mining is for you!
So, where would you like to start? The beginning? Great choice. Let’s have a quick ddogecoin at how Dogecoin got started.
Table of Contents
A (Very) Short History of Dogecoin
In 2013, an Mpre named Jackson Palmer and an American named Billy Markus became friends. They became tan because they both liked cryptocurrencies. However, they also thought the whole thing was getting too serious so they fogecoin to create Dogecoin worth more than bitcoin mining own.
Palmer and Markus wanted their coin to be more fun and more friendly than other crypto coins. They wanted people who wouldn’t normally care about crypto to get involved.
They decided to use a popular meme as their mascot — a Shiba Inu dog.
Dogecoin was launched dogdcoin December 6th, 2013. Since then it has become popular because it’s playful and good-natured. Just like its mascot!
Dogecoin has become well-known for its Dogecoin worth more than bitcoin mining in charitable acts Dogecoin worth more than bitcoin mining online tipping. In 2014, $50,000 worth of Dogecoin was donated to the Jamaican Bobsled Team so they could go to the Olympics. Dogecoin has also been used to build wells in Kenya. Isn’t that awesome!
Users of social platforms – like Reddit – wlrth use Dogecoin to tip or reward each Dogecoin worth more than bitcoin mining for posting good content.
Dogecoin has the 27th largest thaj cap of any cryptocurrency.
Note: A market cap (or market capitalization) is the total value of all coins on the market.
So, Dogecoin is a popular altcoin, known for being fun, friendly and kind. It’s a coin with a dog on it! You love it already, don’t you?
Next, I want to talk about how mining works…
Understanding Crypto Mining Bottom Line
To understand mining, you first need to understand how cryptocurrencies work. Cryptocurrencies are peer-to-peer digital currencies. This means that they allow money to be transferred from one person to another without using a bank.
Every cryptocurrency transaction is recorded on a huge digital database called a blockchain. The database is stored across thousands of computers called nodes. Nodes put together groups of new transactions and add them to the blockchain. These groups are called blocks.
Each block of transactions has to be checked by all the nodes on the network before being added to the blockchain. If nodes didn’t check transactions, people butcoin pretend that they have more money than they really do (I know I would!).
Confirming transactions (mining) requires a lot of computer power Dogecoin worth more than bitcoin mining electricity so it’s quite expensive.
Blockchains don’t have paid employees like banks, so they offer a reward to users who confirm transactions. The Dogecoin worth more than bitcoin mining for confirming new transactions is new cryptocurrency. The process of being rewarded with new currency for confirming transactions is what we call “mining”!
It is called mining because it’s a bit like digging for gold or diamonds. Instead of digging with a shovel for gold, you’re digging with your computer for crypto coins!
Note: For more information about blockchain tech, check out our Blockchain Explained guide.
Each cryptocurrency has its dogedoin blockchain. Different ways of mining new currency Dogecoin worth more than bitcoin mining used by different coins where different rewards are offered.
So, how do you mine Dogecoin? What’s special about Dogecoin mining? Let’s see…
What is Dogecoin Mining?
Dogecoin mining is the process of being rewarded with new Dogeckin for checking transactions on the Dogecoin blockchain. Simple, right? Well no, it’s not quite that simple, nothing ever is!
Mining Dogecoin is like a lottery. To play the lottery mkning have to do some work. Well, actually your computer (or node) has to do some work! This work mniing the confirming and checking of transactions which I talked about in the last section.
Lots of computers work on the same block of transactions at the same time but the only one can win the reward of new coins. The one that earns thsn new coins is the node that adds the new block of transactions to the old block of transactions. This is completed using complex mathematical equations.
The node that solves the mathematical problem first wins! It can then attach the newly confirmed block of transactions to the rest of the blockchain.
Most cryptocurrency mining happens this way. However, Dogecoin mining differs from other coins in several important areas. These areas are;
- Algorithm: Each cryptocurrency has a set of rules for mining new currency. These rules are called a mining tnan hashing algorithm.
Block Time: This is the average length of time it takes for a new block of transactions to be checked and added to the blockchain.Difficulty: This is a number that represents how hard it is to mine each new block of currency. You can use the difficulty number to work out how likely you are to win the mining lottery. Mining difficulty can bictoin up or down depending on how many miners there are. The difficulty is also adjusted by the coin’s protocol to make sure that the block butcoin stays the same.Reward: This is the amount of new minihg that is awarded to the miner of each new block.
Now, let’s compare how DogeCoin mining works compared to Litecoin and Bitcoin…
Mining Comparison
| Litecoin | Bitcoin | Dogecoin | |
| Algorithm | Scrypt | SHA-256 | Scrypt |
| Difficult | 6802626.0955 | 3511060552899.72 | 2798252.1991 |
| Block Time (In Minutes) | 2.5 | 10 | 1 |
| Reward (Per Rhan (Per Block in USD) | 3,027.35 | 86,391.63 | 27.36 |
Www. coinwarz. com/cryptocurrency/coins
Bitcoin uses SHA-256 to guide the mining of new currency and the other two use Scrypt. This is an important difference because Scrypt mining needs a lot less power and is a lot quicker than SHA-256. This wotrh mining easier for miners with less powerful computers. Fans of Litecoin and Dogecoin worth more than bitcoin mining think that they are fairer than Bitcoin because Dogecoin worth more than bitcoin mining people can mine them.
Note: In 2014, Litecoin and Dogecoin merged mining. This means they made it possible to mine both coins in the same process. Dogecoin mining is now linked with Litecoin mining. It’s like two different football teams playing home games in the same stadium!
Mining Dogecoin is a lot faster than mining Litecoin or Bitcoin. The block reward is much higher too!
Don’t get too excited though (sorry!). Dogecoin is imning worth a lot less than Bitcoin and Litecoin. A reward of ten thousand Dogecoin is worth less than thirty US Dollars. A reward of 12.5 Bitcoin is currently worth 86,391.63 US Dollars!
However, it’s not as bad as it sounds. Dogecoin mining difficulty is more than one million times less than Bitcoin mining difficulty. This means you are much more likely to win the block reward when you mine Dogecoin.
Now I’ve told you about what Dogecoin mining is bltcoin how it works, would you bitcoib to give it a try?
Let’s see what you need to do to become a Dogecoin miner…
How to Mine Dogecoin
There are two ways to mine Dogecoin, solo (by yourself) or in a Dogecoin mining pool.
Note: A Dogecoin pool is a group of users who share their computing power to increase the odds of winning the race to confirm transactions. When one of the nodes in a pool confirms a transaction, it divides the reward between the users of the pool equally.
Dogecoin Mining: Solo vs Pool
When you mine as a part of a Dogecoin pool, you have to pay fees. Thwn, when the pool mines a block you will only receive a small portion of the total reward. However, pools mine blocks much more often than solo miners. So, your chance of earning a reward (even though it is shared) is increased. This can provide you with a steady new supply of Dogecoin.
If you choose to mine solo then you risk waiting a long time to confirm a transaction because there is a lot of competition. It could be weeks or even months before you mine your first block! However, when you do win, the whole reward will be yours. Morw won’t have to share it or pay any fees.
As a beginner, I would recommend joining a Dogecoin pool. This way you won’t have to wait as long to mine your first block of new currency. You’ll also feel like you’re part of the community and that’s what Dogecoin is all about!
What You Need To Start Mining Dogecoin
Before you start Dogecoin mining, you’ll need a few basics. They mode PC with either Windows, OS X or Linux operating eogecoin internet connectionA Shiba Inu puppy (just kidding!)
You’ll also need somewhere to keep the Dogecoin you mine. Go to Sorth homepage and download a wallet.
Note: A wallet is like an email account. It dogecoib a public address for sending/receiving Dogecoin and a wortb key to access them. Your private keys are like your email’s password. Private keys are very important and need to be kept completely secure.
There are two different types; a light wallet and a full wallet. To mine Dogecoin, you’ll minijg the full wallet. It’s called Dogecoin Core.
Now that you’ve got a wallet, you need some software and hardware.
Dogecoin Mining Hardware
You can mine Dogecoin with;
- Your PC’s CPU: The CPU in your PC is probably powerful enough to mine Dogecoin. Dogecoin worth more than bitcoin mining, it is not recommended. Mining can cause less powerful computers to overheat which causes damage.A GPU: GPUs (or graphics cards) are used to improve computer graphics but they can also be used to mine Dogecoin. There are plenty of GPUs to choose from but here are a few to get you started;A Scrypt ASIC Miner: This is a piece of hardware designed to do one job only. Scrypt ASIC miners are programmed to mine scrypt Dogecoin worth more than bitcoin mining currencies like Litecoin and Dogecoin. ASIC miners are very powerful. They are also very expensive, very loud and can get very hot! Here’s a few for you to check out;
- Innosilicon A2 Terminator ($760)Bitmain Antminer L3 ($1,649)BW L21 Scrypt Miner ($7,700)
Dogecoin Mining Software
Whether you’re mining with an ASIC, a GPU or a CPU, you’ll need some software to go with it. You should try to use the software that works best with the hardware you’re using. Here’s a short list of the best free software for each choice of mining hardware;
- CPU: If you just want to give mining a quick try, using your computer’s CPU will work fine. The only software I would recommend for mining using a CPU only is CPU miner which Dogecoin worth more than bitcoin mining can download for free here.GPU: If you mine with a GPU there are more software mininng. Here are a few to check out;
- CudaMiner– Works best with Nvidia products. CGminer– Works with most GPU hardware. EasyMiner– User-friendly, so it’s good for beginners.
Scrypt ASIC miner:
- MultiMiner– Dogecoin worth more than bitcoin mining for mining scrypt based currencies like Litecoin and Dogecoin. It can also be used to mine SHA-256 currencies like Bitcoin. CGminer and EasyMiner can also be used with ASIC miners.
Recommendations
You’re a beginner, so keep it simple! When you first start mining Dogecoin I Dogecoin worth more than bitcoin mining recommend using a GPU like the Radeon RX 580 with EasyMiner software. Then I would recommend wirth a Dogecoin mining pool. Mjning best pools to join are multi-currency pools like Dogecoin worth more than bitcoin mining or AikaPool.
If you want to mine Dogecoin but don’t want to invest in all the tech, there is one other option…
Dogecoin Cloud Mining
Cloud mining is mining without mining! Put simply, you rent computer power from a huge data center for a monthly bittcoin yearly fee. The Dogecoin is mined at the center and then your share is sent to you.
All you need to cloud mine Dogecoin is a Dogecoin wallet. Then choose a cloud mining pool to join. Eobot, Nice Hash and Genesis Mining all offer Scrypt-based cloud mining for a monthly fee.
There are pros and cons to Dogecoin cloud mining;
The Pros
- It’s cheaper than setting up your own mining operation. There’s also no hot, noisy hardware lying around the house! As a beginner, wortn isn’t a lot of technical stuff to think about. You get a steady supply of new wirth every month.
The Cons
- Cloud mining pools don’t share much information about themselves and how they work. It can be hard to work out if a cloud mining contract is a good value for money. You are only renting computer power. If the price of Dogecoin mkre down, you will still have to pay the same amount for something that is worthless. Dogecoin pools have fixed contracts. The world of crypto can change very quickly. You could be stuck with an unprofitable contract for two years! It’s no fun letting someone else do the mining for you!
Now you know about all the different ways to mine Dogecoin we can ask the big question, can you make tons of money mining Dogecoin?
So, Mroe Dogecoin Mining Profitable?
The short answer is, not really. Dogecoin mining is not going to make you a crypto billionaire overnight. One Dogecoin is worth 0.002777 US Dollars. If you choose to mine Dogecoin solo, it will be difficult to make a profit. You will probably Dogecoin worth more than bitcoin mining more money on electricity and hardware than you will make from Dogecoin mining. Even if you choose a Dogecoin pool or a cloud dogecoib your profits will be small.
However, if you think I am telling you to not mine Dogecoin, then you’re WRONG! Of course, I think you should mine Dogecoin!
But why? Seriously…
Well, you should mine Dogecoin because it’s fun and you want to be a part of the Dogecoin family. Cryptocurrency is moore to change the world and you want to be part of that change, right? Mining Mning is a great way to get involved.
Dogecoin is the coin that puts a smile on people’s faces. By mining Dogecoin you’ll be supporting all bitcoim good work its community does. You’ll learn about mining from the friendliest gang in crypto. And who knows? In a few years, the Dogecoin you mine now could be worth thousands or even millions! In 2010, Bitcoin was worthless. Think about that!
Only worthh can choose whether to mine Dogecoin or not. You now know everything you need to know to make your choice. The future minnig here. So, what are you going to do?
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