
Jamaican bobsleigh team raises $25k in Dogecoin - epaga
http://www.theguardian.com/technology/2014/jan/20/jamaican-bobsled-team-raises-dogecoin-winter-olympics
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olympus
I'm not familiar with how much 26MM Dogecoin is in relation to the total
amount of Dogecoin that's been mined, but it will be interesting to see what
happens to the exchange rate as it gets converted into "real" money so the
team can pay for the trip to Sochi. The article mentioned that the fundraiser
may have raised the price of Doge itself, and I expect that bubble will pop as
soon as the Jamaicans find out that you can't buy plane tickets with Doge
(yet).

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aestra
100,000,000,000 dogecoin will be mined total (one hundred billion)

[https://dogechain.info/chain/Dogecoin/statistics](https://dogechain.info/chain/Dogecoin/statistics)

32.32%(!) of that has already been mined. That's 32,323,788,534 dogecoin.

26 million is .08% of all dogecoins that have been mined.

~~~
melarina
About a billion coins are being added per day. That will change 2 weeks from
now when the block reward halves. What's kind of interesting about Dogecoin is
that there are so many people mining it. The rapid rate at which coins are
being released combined with the large number of miners means that currently
the top 100 addresses only hold 36.9% of all coins, the lowest concentration
of wealth of any altcoin by a wide margin.

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awkward
I can't wait for Cool Runnings 2: wow very sponsored.

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NigelTufnel
Didn't know that Jamaicans are into bobsleigh. Didn't know that Dogecoin
exist.

Today is the Knowledge Day.

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jameshart
Jamaicans are into sprinting - it is basically the national sport. In the bob,
three skills are needed: sprinting while pushing a bob, sitting very still,
and steering, and only one person needs to do steering. And the sprinting bit
is quite important. Bobsleigh is like a natural pivot into a new market for
sprinters.

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vezzy-fnord
It seems to me that it's now inevitable (for better or for worse) that
Dogecoin will become the bronze to Litecoin's silver, or in other words 3rd
highest valued cryptocurrency.

~~~
dpiers
Dogecoin has surpassed Litecoin's transaction volume in USD for the last two
days. It's still finding its place in the world, and it's possible that place
isn't 3rd.

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waylandsmithers
Maybe this is fueled, at least in part, by others who had the same experience
I did?

1\. Hear the Jamaican bobsled team needs cash to get to Sochi. 2\. Want to
help- surely there is a fund online people can donate to? 3\. Search google,
find nothing. 4\. Search reddit, only related thread is in /r/dogecoin.

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aestra
Wow, in the article it said that this actually affected the dogecoin/bitcoin
exchange rate.

>So many people had been donating, in fact, that they seemed to raise the
price of the currency itself; in 12 hours, the Dogecoin to Bitcoin exchange
rate rose by 50%.

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Alex3917
The rise was due to a single investor in China manipulating the market. Even
if the entire donation was purchased in the exchanges, 25k isn't enough money
to significantly affect the price.

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mrkickling
According to some rumours, I honestly don't believe it. Not impossible though.

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JetSpiegel
"Joke currency" my ass!

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ye
It still is. Can you name a single business that accepts it other than the
exchanges? (And there's probably a few, but nobody knows them).

Of course, doesn't mean it will stay that way, though I have a hard time
believing it will ever lose its joke status.

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JohnTHaller
On the numbers, I think more businesses accept dogecoin than bitcoin. And the
volume of dogecoin transactions exceeded bitcoin transactions the other day.
The transactions and businesses are smaller.

All cryptocurrency is 'joke status' to a certain extent with the vast majority
of people. Personally, I think it'd be genuinely funny for dogecoin to grow to
be the most popular and valuable cryptocurrency.

~~~
Crito
> On the numbers, I think more businesses accept dogecoin than bitcoin. And
> the volume of dogecoin transactions exceeded bitcoin transactions the other
> day. The transactions and businesses are smaller.

Any chance the business plans for these businesses is _" Make doge jokes on
reddit, collect dogecoin donations"_?

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JohnTHaller
Yup. That plus art, poetry, and all kinds of little one-offs that individuals
can make online and get money for.

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untilHellbanned
think Dogecoin will succeed precisely because it's perceived as lighthearted,

this is reminiscent of lots of internet successes: twitter, reddit, dropbox,
etc.

friendly wins the internet

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jquery
Most of the $25k donation was from a single, large owner of Dogecoin. Flagged
for being little more than shameless pumping of a "joke" (tee hee!) currency.
(disclaimer: I own some Dogecoin to hedge my sheer annoyance with it against
the money I'm making from its absurd success).

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cheald
Well, it's over $34k now, so I'm not sure that it's just "shameless pumping".

It's a fun story about a joke cryptocurrency. Roll with it.

~~~
jquery
Fair enough, I unflagged the story. My annoyance probably stems from all the
dogecoin fans calling it a "joke" currency to mask their greed. It was a joke
currency two months ago. Now it's a liquid, $MM cryptocurrency second to
Bitcoin.

~~~
cheald
It's still a joke, which is why it does well. It's got a serious strain, but
it's firmly rooted in internet sillyness and people throw it around willy-
nilly right now specifically because it's a "joke" with some minimal amount of
value. People treat it as functionally equivalent to reddit karma or whatever
- at the moment, it's broadly used as kind of a secondary upvote. Just because
it's a joke doesn't mean it can't also be a serious cryptocurrency. It's just
rebranded Litecoin, after all.

As far as "second to bitcoin", not quite. Its market cap jumped quite a bit in
the past day, but it's still 8th on the list according to
[http://coinmarketcap.com/](http://coinmarketcap.com/)

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Einstalbert
Wow.

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frandroid
Such wow.

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untilHellbanned
dogecoin is going through the roof
[http://coinmarketcap.com/](http://coinmarketcap.com/)

