From the course: Practical Blockchain and Cryptocurrency

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Mining DOGE Coin and does it make sense?

Mining DOGE Coin and does it make sense? - Blockchain Tutorial

From the course: Practical Blockchain and Cryptocurrency

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Mining DOGE Coin and does it make sense?

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- All right, I want to talk a little bit about Dogecoin, or dog coin, as some people call it, but I think the proper way to pronounce it, at least what I've heard, is Dogecoin. So first of all, a lot of people talk about this because it's been making the news lately. Elon Musk is a big advocate of this coin. It is a good coin, but originally it was created as a joke. It was created as a complete joke by its creator. In fact, it's what we usually call a meme coin. So, a meme coin or a dog coin, because it was created as a complete joke to kind of make fun of cryptocurrencies and crypto trading. It was actually introduced in December 6th, 2013. Even though it was created as a joke as of May 5th, 2021, it had a market cap of $85 billion. So, it's no joke, (chuckles) I guess. In 2015, a hundred billion Dogecoins had been mined, and about 5 billion coins are added every year. So, its creator never really expected its value to go up, or its value to, you know, be significant. And as you can…

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