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Does Dogecoin deserve to be a real cryptocurrency or should it stay as a joke?

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Dogecoin has been a favorite cryptocurrency for many over quite some time all thanks to its low price and a robust community. It’s no secret; cryptocurrencies priced below the $1 mark have been a go-to investment option for most newcomers into the industry. But for Dogecoin, also known as the parody coin, the story has mostly revolved around ridiculous speculation from gamblers looking to pump up the price and make a quick buck from the parody coin.

Jackson Palmer, despite being a founder of Dogecoin, maintains a pretty realistic view of the coin. To him, Dogecoin is nothing more than a “joke currency.”

Obviously there is a good number of crypto enthusiasts who would like to think otherwise and even though there is a group of developers who are currently helping maintain the Dogecoin project in their spare time, one of the most important questions anyone investing in Dogecoin has to ask is whether this joke coin should be taken seriously or should it remain a joke.

Is the price of Dogecoin based on Delusions of FOMO

Jack Palmer has constantly reminded everyone interested in Dogecoin that its main purpose was to be a “playful joke”. In fact, Palmer left the cryptocurrency space sometime back as a move to detoxify from the cryptocurrency craze that saw wannabe investors and entrepreneurs launch or invest in cryptocurrency projects with little knowledge of how the industry works.

According to Palmer, the crypto space had, at the time, hit a public image snag of cryptocurrencies who’s main purpose was unclear yet hitting unexpected milestones in terms of market capital.  According to Palmer, new investors into the crypto space are reacting out of FOMO in a bid to make a quick buck on price volatility.

True to his words, Dogecoin hit an all-time high market capitalization of close to $2billion early in the year and even though Palmer eventually returned to being active in the crypto space, Dogecoin has not been the only coin that has led to rising concerns of a bubble. Bitcoin has also seen abnormal price growth and volatility with its price going down from a high of almost $20,000 at the beginning of the year to its current market price in the $7,000 region.

At this point, the market is bearish and most people are starting to realize that the scaling problem with Bitcoin is common for most if not all cryptocurrencies. Most crypto enthusiasts have moved from looking at Bitcoin as a currency to a store of value. However, if Bitcoin which is the top cryptocurrency is having such complex problems, is it reasonable to expect much from DOGE?

Can DOGE be more than a joke?

Well, so far Dogecoin has survived years of ridicule and currently, there is a team of developers who just won’t let the joke coin die a natural death. Is that a good thing? Well, considering how the project has pivoted from a joke to an open source peer to peer digital currency, there is a reason to say that the DOGE is here to stay. The best part about Dogecoin is the community. Dogecoin fans have grown into a tight-knit community of crypto enthusiasts who have participated in helping one another as well as contribute in a variety of charity projects. Given that the Dogecoin mascot is likened to a Shiba Inu dog that was adopted as an act of charity it’s amazing to see that this community-driven initiative is still the backbone of the DOGE. How far does the joke go? Well, nobody knows.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Reasons Why You Are Much Safer When Crypto Trading on Dexes

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While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.

During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.

Here are some reasons why you might want to consider doing the same.

1. True ownership of your coins

The crypto community has a saying: “not your keys, not your coins.” The saying is now more relevant than ever, but it does not apply on DEXes. Decentralized exchanges

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Crypto Billionaire Predicts Massive Price Growth by 2021

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Crypto prices are once again going up, and Bitcoin has just passed a major resistance level at $6,000. With a situation like that, it is not surprising that everyone in the crypto community is looking forward to the future, wondering what to expect in years to come. Many experts have already given their predictions, some more optimistic than others, but almost all bullish.

Crypto billionaire Mike Novogratz has always been very supportive of cryptocurrencies, and very bullish on Bitcoin. He recently stated that he sees the coins’ prices triple in the following 18 months, meaning that Bitcoin’s return to $20,000 might not be far away, according to him.

He noted that Bitcoin is back to $6,000 after its price hit as low as $3,100 only a few months ago. These days, Novogratz does not believe Bitcoin will return to such lows unless there is a devastating exchange hack or a major shift in regulations. Of course, there was a big hack that had the potential to damage the coin’s price, only days ago. The world’s largest crypto exchange by trading volume, Binance, saw a significant security breach which resulted in a theft of 7,000 BTC.

However, so far, the coin did not react negatively to this incident. While Novogratz believed that such an event would shatter the new confidence in BTC, it simply did not happen. However, he…

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Altcoins

TokenRoll (TKR) Platform Will Take Online Casinos to the Next Level

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Corporate executives are turning to blockchain technology more than ever in an attempt to revolutionize the business world.  Although blockchain is still a relatively new concept, that hasn’t stopped more and more companies from jumping on the bandwagon.  This hot new technology has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency, and low costs.  One industry that could certainly benefit from decentralization is the online gambling market, specifically, online casinos.  TokenRoll (TKR) has developed a platform that appears to offer a promising alternative to centralized casinos.

Problems with Centralized Casinos

The primary reason why blockchain technology is being implemented so quickly is because it solves a lot of the problems typically associated with the traditional business model.  And online casinos are no different.  It still needs to be said that centralized casinos have proven that there is a great demand for online gambling.  The market is growing faster than anyone could have predicted, and future opportunities appear very promising and lucrative.  But industries are continually evolving and this one is no different.

A few of the problems facing centralized casinos include the following:

  • Little to no transparency
  • Consumer lack of confidence
  • Privacy concerns
  • 48-72 hour wait time for withdrawals

These are four monumental issues that need to be addressed quickly given the global growth of the market.  Casinos need to…

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