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Dogecoin (DOGE) achievements you did not know

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Dogecoin
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For a long time, Dogecoin has been the go-to cryptocurrency for those who simply wanted to hold on to it for the laughs. Known for the Shibe meme that saw the popularity of DOGE skyrocket to new heights, Dogecoin currently has a market capitalization that is slightly above the $500 million mark. If you think that is a high net worth for the meme coin, then you will be surprised to hear that the parody cryptocurrency hit an all-time high market capitalization of close the $2 billion mark just a few months ago. However, there is more to the Dogecoin than meets the eye.  Here are a couple of Dogecoin accomplishments that you probably knew nothing about.

Dogecoin has the strong backing of an online community

With over 150,000 active Reddit members on the Dogecoin subreddit, Dogecoin boasts of one of the strongest community of crypto enthusiasts. A popular aspect of the Dogecoin community is their use of the Doge meme dialect. The dialect works by shortening phrases into singular words such as Many, Wow, So, Much and so forth. A good example would be a sentence such as “the coin is getting a lot of adoption” being turned to “much adoption.”

This communal sense of comradery and inclusion through the use of a common dialect is perhaps one of the biggest contributors to the unexpected success that Dogecoin has received. By keeping the dialect alive, the Dogecoin community has remained involved even after the coin was abandoned by its developers for a while.

Other achievements by the Dogecoin community

Apart from coming up with a dialect that has helped spur the coin to greater heights, the Dogecoin community has been one of the most progressive communities in the crypto space given that they were able to self-organize and help out fellow members who have lost over $1 million worth of DOGE in a hacking incident back in 2013 December.

In addition, the community has also started a number of initiatives that include:

  • Sponsoring a Jamaican bobsled team: In 2014’s winter Olympics, the Dogecoin Reddit community was able to contribute up to $30,000 worth of Doge coins for the team to make it to the Olympics
  • Dogecoin for Water: Another worthy achievement from the Dogecoin foundation is the $31,996 water campaign that saw the Dogecoin community enable clean water to the Kariong community in Kenya back in 2014.
  • DogeForMalaria campaign: This one happened only 3 months ago when the Dogecoin community was able to fund an organization that provides mosquito nets to children.

With these and many other achievements by the Dogecoin community, there is no doubt that the parody coin is here to stay. In fact, the dogecoin core development team has been working on a white paper not to mention new updates on the source code which is “Much Development”.

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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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How is the Crypto Market Changing?

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crypto market
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It has been around a month and a half since the start of 2019, and there are already some pretty obvious changes in the way the crypto market operates, especially when compared to the last year. Early 2018 was almost a complete opposite. The previous year started with cryptocurrencies at their strongest, only to see them crashing down after a few weeks. Back then, the ICO model was still quite strong, and so was the hype surrounding the crypto space. New investors kept entering the space, and new startups emerged with their tokens ready to be sold.

As the year progressed, things started to change. The prices continued to drop, the ICO model went down from around $1.4 billion in raised funds at the beginning of the year to only $100 million in the last month.

The ICO model lost investors’ trust, as many of the projects turned out to be either too weak to survive after the crypto winter struck, or scams which tricked investors out of their money and disappeared. Not to mention that the increase in ICOs popularity attracted the regulators who cracked down on them pretty hard, especially in the US.

With all of that happening, it is of a small surprise that the investors started giving up on ICOs, especially with the constant drops in prices which saw even the largest coins…

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Understanding the Uses of Different Types Of Cryptocurrencies

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cryptocurrencies
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Cryptocurrencies – a term which has become incredibly prominent in the mainstream media during recent years due to the proliferation of Bitcoin millionaires. As a result, the new form of currency has earned an almost infamous status. However, as with any major step forward, there is still much confusion regarding the use of cryptocurrencies, what different types of innovative electronic cash exist and what they might mean for the future.

We’re putting all of this to rest as we explain what each of the leading cryptocurrencies can do.

Bitcoin

The most popular form of cryptocurrency, Bitcoin was first thought up in 2008 by the elusive and still unknown creator, Satoshi Nakamoto, who published the whitepaper online.

It took almost a decade for the cryptocurrency to reach its peak, but in December 2017 a single Bitcoin roughly exchanged for the price of $17,000, meaning anyone who held a substantial amount of the electronic cash became significantly wealthy.

In its early years, the cryptocurrency was strictly used as an alternative for cash transactions, and predominantly for trading goods and services. However as it has increased in popularity, its range of uses has also widened, now deployed for a variety of purposes including acting as collateral for investments at merchant banks, a direct debit for subscriptions services and most notably for sports betting.

Ripple

Bitcoin’s closest source of competition, Ripple was founded…

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New DoJ Ruling May Cripple Gambling dApps

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gambling dApps
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A new decision made by the US Justice Department has expanded restrictions regarding online gambling in the US affecting gambling dApps. While the Federal Wire Act of 1961 prohibited online gambling regarding sports since 2011, the new decision expanded on this, and it now includes all forms of internet gambling. Unfortunately for many, this now also includes cryptocurrencies.

The new decision came due to considerable difficulties when it comes to guaranteeing that only interstate betting will take place and that payments will not be routed via different states.

The new announcement was explained in a 23-page-long opinion issued by the Department of Justice’s legal team, which pointed out that the 2011 decision misinterpreted the law. According to that decision, transferring funds was to be considered a violation, but data transfers were not included. By exploiting this oversight, it was possible for gamblers to turn to internet gambling. Unsurprisingly, many have realized this early on, including startups, as well as large, established firms. This, of course, also included cryptocurrency companies as well.

The new decision changes what is allowed online

The decision to include all forms of internet gambling is a massive hit in the…

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