Dogecoin

Dogecoin (also known as Dodgycoin) is an open source peer-to-peer cryptocurrency, whatever the hell that is supposed to mean. The currency went onlin December 6th, 2013 and became favored by Shiba Inus worldwide because dogs care about human space bux.

Doge meme

For those who actually have a job and don't spend all day on the Internet, the currency is named after Know Your Meme's Meme of the Year, Doge. It was programmed by a former IBM engineer who never heard about memes. Someone suggested Dogecoin and he went with it. He was interested in virtual currencies but distanced himself from Bitcoin due to it's association with Silk Road, failing to realize the Doge was popularized by drug addicts who are unable to make out complete sentences.

The true intent of Dogecoin is to get people to spam the Doge meme so that 2014's Mosted Unfunny and Hated Meme of the Year. Looking at Dogecoin related websites and posting by currency holders it is off to a very good start. If you can't afford to purchase a Dogecoin for 0.06 cents, visit a water bowl and soon you'll be packing your Dogewallet with Dogecoins and become a dogillionaire!

Clueless "investors"

Like any other virtual currency, there is absolutely no protection whatsoever. If someone's space bux gets stolen, the government won't care. For all intents and purposes, Dogecoins are worth nothing.

Since Dogecoin is named after a very popular meme, people who don't have a clue were suddenly investing in the cryptocurrency. In fact, many at the time thought that Dogecoin was nothing more than an Internet prank. Not even a week earlier, it's value had decreased by 80% due to exploits in mining the coins. News of someone from Australia known as Trade Fortress who claimed he lost $1 million in Bitcoins when online wallet inputs.io shut down without warning, claiming they were hacked. Bitcoin itself was busy laughing at journalist who heralded Dogecoin as a potential successor. With a website less than a month old and a bunch of clueless ~~users~~investors, what could possibly go wrong?

Hacked

In an epic move that made the Grinch himself smile, this question was answered on Christmas. Someone managed to find a security hole in Dogewallet, where users can store their Dogecoins. Around 30 million coins were stolen, worth about $12,000. This earned the hacker the being the only hacker to steal less than what a part-timer makes flipping burgers in a year. In response, Dogecoin did the rational thing and shut down its website and social media accounts, a move that wasn't suspicious at all. Eventually the site was reopened then new Facebook and Reddit accounts were created, but the damage was already done. With news of the hacking, those who purchased the currency "for the lulz" were suddenly thinking of it as serious business. Bitcoin was busy laughing at the newbs who didn't understand why online wallets are a bad idea. Dogecoin itself made matters worse by recommending people store their coins offline, admitting it didn't have a clue about how to secure their site.

YouTube

dogecoin.avi

How to Mine Dogecoins #1

How to Mine Dogecoins #2

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Quotes

	“	Hello Dogewallet, I mined 2400 dogecoins and I am collecting them as if they were real money. I would like you to refund these to my new safe offline wallet: DLpxkpRGhH2G6Mf7juzcoetZV5NiFWn1sf My username was: dennis1853 And my address was: D9vHp1TbGsAk7kresPBtmQaNYWRDaFxH5n I'm very sad about this happening and I hope you will refund me in this way. I know you might not care about your small customers but if you do then refund me these Doges!	„
	—dennis1853, Sad about... $1.36

Here is my account information, posting it for all to see

	“	How will you do that? I lost over 160k doge, I emailed you the day before I got hacked, my username was sohaibk and email that I used to message you was [email protected]. Send my Doges home: D5r7TXcU3JqqtBXAZXKJtNL7LAFUfFYeDm	„
	—sohaibk

	“	I'm sure you have a transaction history. My username was "makesoap" and I lost 25,044 coins. Please do what you can. My new, hopefully safe wallet is here: DRD4Lz57QoXa7aMMALsAna74NaCgpqQfHv	„
	—Super-science

	“	My username was avalonstar (email starting with bryan@). I had around 130k in there. I was really looking forward to the investment bits, but here's my offline wallet: DLsM3fEoYfQJ4DsEqzYfWGQe7vLEzu5Xbt	„
	—bryanveloso