Reddit crypto october 2021
Welcome to Reuters Legal News beta. Please enjoy and provide us with your feedback as we continue to improve the Reuters Legal News experience. January 24, - Depending upon who you talk to, cryptocurrency is all the rage, a Ponzi scheme or yet another energy-consuming scourge on the environment. See tweets by Elon Musk from mid-May , citing the environmental impact of bitcoin transactions for Tesla's decision to suspend bitcoin for purchasing vehicles. Perhaps it is all three, but given the potential promise of its underlying technology, it is not going anywhere soon and will remain an emerging and even volatile commodity. The question is whether it will become something more.
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Despite its satirical nature, some consider it a legitimate investment prospect. Dogecoin features the face of the Shiba Inu dog from the " Doge " meme as its logo and namesake.
With the help of Reddit , the site became an instant hit. Dogecoin takes only 1 minute to confirm, while BTC takes 10 minutes. They wanted to create a peer-to-peer digital currency that could reach a broader demographic than Bitcoin. In addition, they wanted to distance it from the controversial history of other coins. Palmer is credited with making the idea a reality.
At the time, he was a member of the Adobe Systems marketing department in Sydney. Markus reached out to Palmer after seeing the site, and started efforts to develop the currency. Markus had designed Dogecoin's protocol based on existing cryptocurrencies Luckycoin and Litecoin ,  which use scrypt technology in their proof-of-work algorithm. This growth occurred during a time when bitcoin and many other cryptocurrencies were reeling from China's decision to forbid Chinese banks from investing into the bitcoin economy.
On December 25, , the first major theft of Dogecoin occurred when millions of coins were stolen during a hack on the online cryptocurrency wallet platform Dogewallet. To help those who lost funds on Dogewallet after its breach, the Dogecoin community started an initiative named "SaveDogemas" to help donate coins to those who had them stolen. Approximately one month later, enough money was donated to cover all of the coins that were stolen.
In January , the trading volume of Dogecoin briefly surpassed that of Bitcoin and all other crypto-currencies combined. However, its market capitalization remained substantially behind that of Bitcoin.
Initially, Dogecoin featured a randomized reward that is received for each mining block. However, in March , this behaviour was later updated to a static block reward. Co-founder Jackson Palmer left the cryptocurrency community in and has no plans to return, having come to the belief that cryptocurrency, originally conceived as a libertarian alternative to money, is fundamentally exploitative and built to enrich its top proponents.
His co-founder, Billy Markus, agreed that Palmer's position was generally valid. In April , Dogecoin and other cryptocurrencies surged, stimulated in part by the direct listing for cryptocurrency exchange Coinbase on April 14, although that platform did not provide trading of Dogecoin. On May 9, , SpaceX announced a rideshare mission to the Moon completely funded by Dogecoin, thus becoming the first space mission funded by a cryptocurrency.
Elon Musk confirmed this news via Twitter. On August 14, , the Dogecoin Foundation announced the "re-establishment of the Dogecoin Foundation est , with a renewed focus on supporting the Dogecoin Ecosystem, Community and promoting the future of the Dogecoin Blockchain.
Dogecoin is an altcoin [b] with a large userbase, and is traded against both fiat currencies and other cryptocurrencies on several reputable cryptocurrency exchanges and retail investment platforms.
Trading physical, tangible items in exchange for DOGE takes place on online communities such as Reddit and Twitter, where users in such circles frequently share cryptocurrency-related information.
Dogecoin has also been used in an attempted property sale,  and has been used in the pornography  and gambling [c] industries. One major mainstream commercial application of the cryptocurrency has been Internet-based tipping systems, in which social media users tip other users for providing interesting or noteworthy content. Dogetipbot was a cryptocurrency transaction service used on popular sites like Reddit and Twitch. It allowed users to send Dogecoins to other users through commands via Reddit comments.
In May , Dogetipbot was discontinued and taken offline after its creator declared bankruptcy; this left many Dogetipbot users losing their coins stored in the Dogetipbot system. DeFi decentralized finance is a form of finance that does not rely on middlemen such as brokerages , exchanges , or banks to offer financial instruments. While Dogecoin cannot interact with smart contracts directly given that it operates on its own chain, the coins can be "wrapped" so that they can be locked into a state that is interoperable with a contract until it is later released.
Most DeFi coins use the Ethereum blockchain network. An example of a Dexs is Uniswap ; these are entirely peer-to-peer exchanges, without any company or other institution providing the platform. Dogecoin started with a supply limit of billion coins, which would have been far more coins than the top digital currencies were then allowing. By mid the billionth Dogecoin had been mined with an additional 5 billion coins put into circulation every year thereafter.
Although there is no theoretical supply limit, at this rate, the number of Dogecoins put into circulation will only double in 20 years the next doubling will occur in the year There is no implemented hard cap on the total supply of Dogecoins. Nonetheless, in February , Dogecoin founder Jackson Palmer announced that the limit would be removed in an effort to create a consistent reduction of its inflation rate over time.
Dogecoin's implementation differs from Litecoin of which its code is fork ed by several parameters. Dogecoin's block time is 1 minute as opposed to Litecoin's 2. Several cases of people using their employers' or universities' computers to mine Dogecoin have been discovered. The Dogecoin community and foundation have encouraged fundraising for charities and other notable causes. Inspired by the Winter Olympics fundraiser and smaller charity fundraising successes, the Dogecoin Foundation, led by Eric Nakagawa , began collecting donations to build a well in the Tana river basin in Kenya in cooperation with Charity: Water.
The campaign succeeded, collecting donations from more than 4, donors, including one anonymous benefactor who donated 14,, Dogecoin approx. On March 25, , the Dogecoin community successfully raised Nicknamed the "Moonrocket",  the No. He finished the race in fifteenth, the last car running. McLeod Motorsports announced that Dogecoin would be sponsoring the No. Coincidentally, his father Phil was the owner of the team that fielded the original Dogecoin-sponsored car in Dogecoin's origin as a "joke", which makes it the first meme coin , has made it difficult to be taken seriously by mainstream media and financial experts.
Critics allege that Dogecoin investors who purchased Dogecoins early on, have a large financial incentive to draw others in to purchasing more Dogecoins in order to drive the price up, therefore benefitting the early investors financially at the direct expense of later purchasers.
While the price of Dogecoin is volatile, this volatility has its benefits. It allows cryptocurrency day-traders , those being traders who enter and exit a trade within one day, to trade off this volatility and benefit from the extreme swings in Dogecoin's value. Dogecoin uses relatively little energy for transactions compared with some other cryptocurrencies 0. There is no uncertainty as to the amount of created and it's inflation percentage.
Which could allow it to grow as a valid payment mechanism. The unknown is whether enough people will use it this way. Elon Musk frequently uses his Twitter platform to express his views on Dogecoin, which has led some to claim that his actions amount to market manipulation  because the price of Dogecoin frequently experiences price movements shortly after Dogecoin-related tweets released by Elon Musk. Nevertheless, because cryptocurrencies are not regulated like stocks, these actions are not illegal.
Musk's first Dogecoin-related tweet occurred on December 20, Musk tweeted 'One Word: Doge'. This was followed by a series of Dogecoin-related tweets by Musk in early February captioned 'Dogecoin is the people's crypto' and 'no highs, no lows, only Doge'. From Wikipedia, the free encyclopedia. November 27, The Daily Dot. April 24, Archived from the original on December 22, Retrieved December 21, Just Ask Doge".
The New York Times. ISSN Archived from the original on October 3, Retrieved October 3, Accessed December 28, Dogecoin is the most Internet thing to happen, ever". Digital Trends. Archived from the original on December 14, Retrieved December 12, Sydney Morning Herald. Archived from the original on March 31, Retrieved April 5, August 16, Retrieved August 18, Australian Broadcasting Corporation.
May 9, Retrieved May 10, Retrieved November 28, February 11, Retrieved February 12, Vice Media. Retrieved December 23, Junkee Media. Retrieved January 12, Jackson Palmer accidentally invented Dogecoin in early December Business Insider.
Archived from the original on December 20, Retrieved December 19,
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Reddit initially refused to ban subreddits identified as spreading misinformation. Reddit clarified its guidelines on Wednesday, to make clear that it prohibits posting health information that has been manipulated and presented to mislead, or poses a risk of significant physical harm to the reader. Reddit initially defended its refusal to ban Covid sceptic groups. Reddit is a place for open and authentic discussion and debate. This includes conversations that question or disagree with popular consensus. As our users know Covid directly impacts this game because Go is played outside in real life with others.
Did a Reddit user have the scoop on Tesla’s bitcoin move?
The hype on crypto continues, but the price of mainstream cryptos Bitcoin and Ethereum continues to fall. The age of majoritarianism has birthed a second wave of identity politics across India. As five states are ready to go to polls At no time do the politics of identity play out more spectacularly than during an Indian election.
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The Shiba Inu Coin SHIB has once again surprised the cryptocurrency market after it jumped up by over 45 per cent in the last 24 hours. According to their official website, SHIB is an experiment in decentralised spontaneous community building. The creators of this token have created it from inspiration from Dogecoin. The Shiba Inu has been called 'Dogecoin Killer' by its community. The token is also supported by a large community of coin holders who support and promote the coin on social media like Reddit and Twitter. The crypto market is a very volatile and unpredictable one, and often cryptocurrencies that have no reason for being on top often get pumped up.
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Top meme-based cryptocurrencies, Dogecoin and Shiba Inu, witnessed massive rallies on Thursday, stoking fears that the community-driven pump in the tokens may prove to be a death trap for retail investors entering at the current levels. Experts are of the opinion that rather than fundamentals, communities who believe in these meme tokens are fueling the rally. Unfortunately, Shina Inu is kind of impacting the whole crypto market volumes as well," said Sidharth Sogani, founder and chief executive officer, Crebaco Global, a research, rating, and intelligence company focused on blockchain and cryptocurrencies. Earlier in the year, shares of GameStop also had seen a massive rally due to similar attention on social media and chat rooms, including Reddit. Another factor that experts feel might be driving the rally in meme tokens is their low prices.
How top 15 cryptocurrency prices changed for long-term investors in 2021
So does investor and Dallas Mavericks owner Mark Cuban. Athletes are also flocking to bigger cryptos like bitcoin and ether following a record-breaking rally. Trevor Lawrence, the No. Amateurs like Earl S.
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Company leaders echoed the sentiments Maloney expressed here: grief, outrage, sympathy. Some went a step further and, like Grubhub, committed to donating money to anti-racist groups. Some unveiled initiatives for addressing racism in their products or organizations. A few shared the racial make-up of their workforces and action plans for hiring and retaining more employees from underrepresented groups.
Concern over a tightening of US monetary policy by the Federal Reserve and possibly faster than expected interest rate rises sparked the sell off. The market was also spooked by Russia's central bank last week proposing a ban on cryptos. So what happens next? Meme coins are the volatile wing of the already highly volatile crypto sector, and doge is the mother of memes.