Dogecoin explained: what’s this all about?

dogecoin but once started out as a harmless meme has evolved into so much more let's make it rain no i'm joking this won't be financial advice i'm sure it may shock some of you that i am no finance expert seriously in this video we will explain the hype behind the puzzling dogecoin and how amir dog meme has evolved into this respectable digital currency celebrities just can't stop talking about if you're new to our channel welcome why not slam the like button subscribe and turn on notifications we post weekly content all in the cyber security and tech sphere so dogecoin is a meme based digital currency that joined the cryptocurrency craze back in 2013 created by the software engineers billy marcus and jackson palmer for cryptocurrency veterans this coin is pretty notorious but all the newbies on the scene you've probably been wondering what all the fuss is about in short when it comes to cryptocurrency there are three different types you've got your bitcoin altcoin and tokens dogecoin falls into the alternative coin breed when it comes to dogecoin is free from traditional banking fees open source and seemingly a funner experience than the other cryptocurrencies on the market a great appeal of crypto is that they use blockchain technology which is security focused you may be shocked that the term cryptocurrency was actually first coined pun intended as far back as 1998 and digital peer-to-peer instant payment technology as we know it launched around 2009 with the infamous bitcoin which really opened up the digital currency world then as always rivals followed many rivals but none as nonchalant as dogecoin or at least how they began after all their whole business and their whole face and ethos is based off of a shiba inu dog and a number of tweets which just escalated into palmerbine dogecoin.com it gained traction the software actually being made and then the rest is history now that you know what it is let's dive a little deeper into how a business was formed from an ironic homage to the 2013 crypto mania and is now hitting record numbers in 2021 so why does dogecoin keep re-emerging well you may have noticed that dogecoin is becoming quite the cryptocurrency of the stars it's very hard to believe that a company that quite literally started out as a gag is no longer a gag let's hear it straight from the doge's mouth it was just me tweeting um hey i'm going to invest in dogecoin i think it's the next big thing and at that point i had no inclination of making it a real thing it was just a joke jackson palmer himself he doesn't down player he doesn't pretend that this is the whole like mastermind plan at all which is super cool i mean he was based in portland at the time and um he's like hey i've been i've been tooling around because he created an old coin before called bells and uh he was like hey uh i know you i realize you can change the font of the qt client to comic sans i'm like well heck we got to do this this is seriously so classic even the whole comic sounds part really speaks for itself you've got irony upon irony how did this even happen firstly exposure has a huge role back in 2018 the online brokers named robin hood put dogecoin on their website alongside some of the greats and for sure we can attribute celebrities countless plugging of dodge coin across twitter and beyond for its constant rise in popularity elon musk's twitter seems to be an og plugging spot in and of itself you've got signal clubhouse dogecoin and more dogecoin let's just open up elon musk's twitter and generally see how many times he's mentioned dogecoin this year elon's twitter here here we go searching for the doge doge spelled backwards is classic search for some more where they are where those doge memes at another one on the 1st of march doge meme shield dogecoin value dropping means dogecoin i know there's more there's some frodo one here somewhere oh doge on the moon literally 24 for feb dogecoin 15 for feb club house little plug there this is the meme of them all look one coin to rule them all frodo was the underdoge all thought he would fail himself himself most of all classic classic elon quite literally tweeted that doge is the people's crypto so from what i can see he's tweeted a bunch of times this year alone about dogecoin and their limelight has followed suit and i've not even mentioned gene simmons or snoop dogg's recent dogecoin shout outs which were pretty ingenious and then prompted elon to of course post a strange lion king slash doge meme mashup meme then there's dogecoins re-emerging on youtube the best platform of all am i right videos are popping up left right and center flooding youtube and even graeme steven to his surprise has recently posted a video about this dogecoin which is so far this year gone up fifteen hundred percent in price from zero point zero zero five cents all the way to seven cents at the time i'm making this video hype just utter hype everyone is really genuinely trying to find out if dogecoin is a viable investment again i really have no financial background whatsoever please don't come for me dogecoin's whole story is truly fascinating and who knows where this will go to in the future but crypto does seem to be trickling into the mainstream as we speak the future of shopping will definitely be affected by this digital currency and it's already beginning with tesla announcing this year that they will be accepting bitcoin as a means of payment for their vehicles in the near future and even the most unlikely of places accepting dogecoin as a legit currency the whole premise behind dogecoin is pretty hilarious and completely non-trihard and that's definitely why it has this loyal following give the people what they want am i right dogecoin have paved the way for light-hearted pop-culture-based currencies if nothing else whoever remembers kanye west drop us a comment either way is pre-called dogecoin claims most of this publicity hasn't been the result of a grand marketing campaign unsurprisingly they're just as shocked as we are remember to like this video hit that subscribe to hear more from us don't forget this really isn't financial advice and we really are not liable for anything you might or might not do after this video thanks for watching we look forward to seeing you next time [Music]

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