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Gemini Acceptance of Dogecoin Suggests Cryptocurrency Here to Stay

Written by:
Aaron Goldstein
Published on:
May/05/2021

Outside of Bitcoin, the most popular cryptocurrency on the market today might very well be Dogecoin.  It was initially launched by a pair of engineers as a joke, a comedic parody of the mysterious Bitcoin.  It is represented by a dog surrounded by a bunch of Comic Sans text in broken English.

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Today, the coin is far from a joke.  Dogecoin has fetched $50 billion in total value since its launch in 2013, with an increase of 6000% just this year. It is the No. 5 most-valuable cryptocurrency on the market, according to CoinMarketCap.  The coin continues to outperform thanks in no small part to Tesla (TSLA) CEO Elon Musk tweeting about it for the umpteenth time.

On Wednesday, there was more great news.  You could now buy, sell and trade Dogecoin on the popular crypto exchange Gemini.

Gemini is also offering FREE trading of Dogecoin for a week.

Gemini writes: "No one person, organization, or authority decides the value of a crypto – its value is determined by its supply and your demand for it. In Dogecoin’s case, its money supply is transparent, predictable, and disinflationary. The Dogecoin protocol issues a fixed amount of 5 billion DOGE every year. Over time, this fixed, annual issuance of 5 billion DOGE will represent a much smaller percentage of Dogecoin’s overall money supply. This means the growth rate of Dogecoin’s money supply is actually decreasing. In other words, Dogecoin’s money supply is disinflationary. This is not dissimilar to how Ethereum’s money supply of ether currently works. Recently, demand for Dogecoin has oustripped its supply. As a result, its price has been mooning. The people are speaking.

"As the world ponders the popularity and meme-ification of a grammatically challenged dog, many are engaging in a referendum on centralized money and finance by joining the Dogecoin community. And the best part? They’re doing it with a smile. So amaze."

Extending Bitcoin Addresses—in Many Ways - What if you could program a system that recognized a Bitcoin signing key as belonging to a certain owner, without that key ever existing previously on the blockchain? That’s one of the use cases in Episode #4 of “Bitcoin Class with Satoshi“, the new series of Bitcoin development videos featuring sCrypt founder Xiaohui Liu and Dr. Craig S. Wright.

Dr. Wright reminds everyone that “Bitcoin addresses” as we may know them are not part of Bitcoin’s original design—in fact, the addresses we use to send and receive Bitcoin can take almost any form we like, as long as the private key used for signing can be validated.

“It’s not part of Bitcoin, it’s not part of the template,” he says. “Too much effort has been put into these piffy little address functions I set up in 2009. It wasn’t meant to be the only way you do Bitcoin.”

- Aaron Goldstein, Gambling911.com

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