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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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Blockchain-Focused ETF Arrives on London Stock Exchange

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The crypto community is still waiting for the US SEC to approve Bitcoin ETFs, with speculation which application might get approval being one of the hottest topics in 2018. However, come 2019, the US government shutdown dragged on, and the Bitcoin ETF request which had the most potential to see a grant got withdrawn by the very companies that submitted the application.

While the question of BTC ETF remains hanging in the air, blockchain-focused ETFs seem to be a different matter entirely. In a recent announcement by an independent investment managed firm called Invesco, the company has stated that it was about to launch the largest blockchain-focused ETF in the world. They managed to go through with this plan, and the ETFs have reached the London Stock Exchange today, March 11th.

The exchange-traded fund includes a portfolio containing as many as 48 different firms which are bringing exposure to the emerging technology. Among them, there is Taiwan Semiconductor Manufacturing, which is a well-known creator of chips used for crypto mining, as well as the CME Group, which is the first regulated exchange in the US which launched Bitcoin futures. There are many other well-known companies as well, such as Intel, Microsoft, and others.

Chris Mellor, the Invesco’s head of ETF equity product management in Europe, said that blockchain has a huge potential to increase earnings, even though…

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Could Jeff Bezos Turn to Bitcoin to Hide Fortune from Wife?

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Amazon’s Jeff Bezos has made numerous headlines recently due to his overly-publicized divorce, which shows all signs of being one of the most expensive ones — if not THE most expensive one — in modern history. According to estimates, it might cost him as much as $70 billion, which will make his soon-to-be-ex-wife the richest woman in human history.

However, as the process continues to unfold, many have started wondering if things may have ended up differently for Bezos if he turned to Bitcoin for help.

Bitcoin as a divorce tool?

In the last several years — since Bitcoin and other cryptos hit fame — many have started turning to BTC during their divorce proceedings. In fact, it can even be said that using the largest cryptocurrency in this way has become a new trend. The trend has been gaining so much strength that numerous law companies started including advice on what to do in regards to Bitcoin as part of their websites.

However, while the trend has been picking up in recent years, it is nowhere near as easy as it might seem. For example, if there is even a suspicion of a spouse having undisclosed holdings appears during the divorce process, it might be enough to impact the final decision of the judge. In other words, even if there is a complete lack of evidence, but…

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Three Biggest Things To Know Come Cryptocurrency Tax Season

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In recent years, digital cash systems known as cryptocurrencies such as Bitcoin and Litecoin have exploded into the public eye. A blend of cash and stocks, their use and value has grown exponentially. In 2017, the IRS decided to focus great effort on taxing them. In theory, this should be as simple as calculating taxes on any other type of property, bond, or other assets. Cryptocurrency, however, presents a unique challenge. The full extent of one person’s crypto activity can stretch across dozens of platforms and take a variety of different forms. This makes it difficult to gather all of this information cohesively, much less begin the seemingly- complicated process of reporting it.

These three tips should help anyone looking to legally report their crypto activity to figure out where to start.

Documentation is key!

There are dozens of different “exchanges” individuals can use to change their cash into crypto. When the flat currency is changed into cryptocurrency at the exchange, you establish your cost basis. This makes this data crucial when you begin the process of reporting.  Those who have used a variety of different exchanges should keep detailed records of everywhere that they made trades. Once tax season arrives, most exchanges will allow users to view their entire trading history with that exchange. This information will be necessary later to complete taxes.

Calculate your total gains

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