Since this silly little coin took off, bouyed by meme power, I've seen some thing. For example the coinedup.com exchange keeps getting hammered. I don't know if this is due to sheer volume or cyber attacks. (After all the crypto crowd would be very capable). I've also watched ridiculous exchanges like 0.00000001 dogecoin sold for 5 bitcoin. And I don't know what that was all about. As I see it, it could be one of 3 things.
1) Someone is using this fledgling currency to launder bitcoin. Receiving them through an exchange as the purchase price for dogecoin. So instead of directly receiving the bitcoins for the service or goods - they're instead having the person on the other end by a ridiculously priced dogecoin.
2) Since coined charges nothing for trades, they could also have been trying to give the other markets the end around - bypassing the fees they would have been charged on other exchanges.
or
3) There are people posting sky high prices, then buying them themselves - this cost them nothing, but wrecks the grandularity of the charts, making it difficult to access real time value.
Very dodgey on the dogey. Bad shibes!
In other news - the dodgecoin mining pool I joined (luckyminers) seems to be having some problems this morning. Either something has gone amiss, or we're currently mining the worst block ever. On the other hand, I'm new to mining and maybe bad blocks are a result of increasing difficulty. After all, when I started the difficulty was 17 and now its up to 32. But the block I mine keep getting rejected on divide by 0 errors. Just not sure what's up. Hopefully it stabilizes or I may need to find a new pool. I'll give it a while.
Anyway, I guess many of the outages and problems revolve around the sheer volume of work generates by such a silly meme. It's been a fun ride though. :) What I can say is - I'm glad it retained its value over night. Such staying power. Many value.
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