much dogecoin, wow

So a friend of mine was asking me about mining bitcoin.  While I was looking at cloud mining, his enquiry made me take a look at solo and farm mining.

Anyway, I ran a miner for a bit trying it on bitcoin.  Suffice it to say (as is already known) that the difficulty is so high, its highly unlikely you'll find a block.  And with the sheer amount of processing power some people and groups are throwing at it, even if you join a farm its hard to get shares.

So I remembered, diversity is good.  And as irony would have it, about the same time I was applying the doge meme to namecoin in my last entry - someone was had released a new currency called dogecoin less than 48 hours before.  I find this interesting.  When you consider fiat currencies, its their nation that backs them - but beyond that, it is belief that it has value.  So if you look at the US dollar, it's obviously emblazoned with, "In God We Trust."

So that got me thinking - that's a meme.  And dogecoin is backed by the power of a meme.  Sure, the God meme is long enduring with a large chunk of the world population who follow.  Since the doge meme is going viral and will easily hit millions - I figured, what the Hell.  I'll mine that shit.  Though, my machine is weak - so I'm relying on the mining pool and shares approach to get smaller slices of the pie at a faster pace.

If you want to follow me, I joined the luckyminers doge pool.  Bring much hash.  So crunchy,  Many block.  Such profit.  Wow.

While the coin itself has little traction, the community is so silly an entertaining I've lost so much time to it  LOL  But little doesn't mean none.  There is obviously the coinedup exchange I already mentioned.  There are also forums where exchanges are occuring.  Also, places where you can buy real goods.  And someone out there is selling real Shiba inus (dogs) for dogecoin.  I kid you not.  Heck, you can even buy dogecoins on ebay.

Meanwhile - things to consider.  Is dogecoin decentralized?  Yes.  Does it have any utility value beyond being an exchange veseel?  No (as opposed to namecoin for example).  Can you cash it out?  In a round about arbitrage kind of way - yes you can.  You can use coinedup.com to convert to bitcoin or litecoin.  And you can send either of those coins to another exchange to liquidate them.

So you can go:  Dogecoin -> Bitcoin -> Exhange-> Cash.
Or:  Dogecoin -> Litecoin -> Exchange -> Cash.

And when you're fiddling with these cryptocurrencies you always want to know how they're trading - so here's much chart.

Anyway, I thought I'd catch you up on my current cryptocurrency hijinks.

And since dogecoin is still relatively easy to come by...  feel free to send me a donation for turning you on to the dogecoin shuffle and it memetic goodness.

Send dogecoins here:  DJMjXchP7bfQxH9ykqRCYnEXw6qTZSu8sY