Dogecoin

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Template:Infobox currency Dogecoin (code: DOGE, not to be confused with DGC, the currency code for DigitalCoin), is a cryptocurrency that is based on the 'doge' internet phenomenon, making it the first currency to be based upon an internet meme.[1][2] Like Litecoin, Dogecoin uses scrypt in its proof-of-work algorithm, meaning that miners cannot take advantage of specialized Bitcoin-mining equipment to mine at higher speeds. However, the Dogecoin network will produce 100 billion dogecoins, significantly more than the 84 million limit imposed on the Litecoin network or the 21 million on the bitcoin network.[3][4]

Despite the currency being made mostly as a proof-of-concept as well as a play on the internet meme of the same name, there are real communities dedicated to the currency and the popularity and value of the currency is growing.,[5] and there been several minor exchanges that trade Dogecoin for other established cryptocurrencies like Litecoin or Bitcoin. From December 6, 2013, the baseline price has been approximately 10,000 DOGE for 1 USD, however its value is neither well-defined nor stable due to a lack of major exchanges trading DOGE.[6][7]

As of December 14, 2013, the market capitalization of Dogecoin is approximately $0.90 million USD[8] and only 6% of the 100 billion total dogecoins have been mined.[9]

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[edit] Exchanges

The only available official exchange that handles DOGE/LTC or DOGE/BTC exchanges is CoinedUp. The price is highly volatile due to the newness of the currency. But as of Dec 14th 2013, the price on the exchange was approximately 3.3 million DOGE per BTC, placing it at a value of approximately 4,000 dogecoins per $1 USD.

[edit] See also

[edit] External links

[edit] References

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