Dog money
Digital money is legal
digital currency itself is legal in China. Digital currency is defined as Internet goods in China, but the relevant supervision is still blank, and digital currency is still in the gray area in China. Well known digital currencies include bitcoin, Leyte coin, Ruitai coin, thousand gold card, dog coin, etc
however, there are also some non developers who use the cover of digital currency to carry out pyramid schemes, such as the Vicat scheme, treasure scheme, Porter scheme and so on
development materials:
digital currency is different from the virtual currency in the virtual world, because it can be used for real goods and services transactions, not limited to online games. The early digital currency (digital gold currency) is a form of electronic currency named after the weight of gold. Today's digital currency, such as bitcoin, lightcoin and ppcoin, is an electronic currency created, issued and circulated by check sum cryptography. It is characterized by the use of P2P peer-to-peer network technology to issue, manage and circulate currency. In theory, it avoids bureaucratic examination and approval, so that everyone has the right to issue currency
in fact, virtual coin players with a little common sense all know that dog coin has the following fatal defects:
1. First of all, the code of doggie coin is completely copied from Leyte coin. The wallet of doggie coin in the early days has LTC words; Secondly, the founder of dogcoin left the development team in April 2014 and announced twice to quit dogcoin community; Thirdly, up to now, dogcoin still does not have a stable development team. Most of the online volunteers who joined dogcoin development team in the early days have quit. After the founder of dogcoin announced to quit dogcoin community again in March 2015, the development work actually stagnated
2. Dog money has no support of calculation power, that is to say, it has no real value, and its price performance is purely the result of speculative market game. In September 2014, in view of the collapse of computing power, doggy coin abandoned the mining mode and implemented auxpow, that is, to give doggy coin to any mine pool supporting this mechanism. This means that dog money is no longer the object for miners to profit from mining by purchasing equipment. The reason why the mine pool chooses to support dog coin is to get free dog coin< 3. There is eternal inflation. Under the background that most virtual currencies choose a fixed total amount, dog coin is set to increase by 5.2 billion every year, which makes it face serious inflation pressure. Because the new dog coin is given to the mine pool for free (the gift mechanism may be cancelled at any time), the miners will not have any feelings for the dog coin, they will only sell all the new mines. Inflation setting is an innovation of the founder of dog coin, but it completely violates the pricing principle of virtual coin: that is, under the premise of fixed total amount, through periodic halving, let the computing power and price reach a balance, so as to form a reasonable pricing mechanism. Dog money does not abide by the principle of fixed amount, and now even the computing power has been given up, indicating that it is not a standard virtual money
4. Illegal use of the logo registered by ultra Pro company may be prohibited at any time. As we all know, the dog coin borrowed the well-known Chaigou's head picture from the Internet. The "foundation" established a year later claimed to be trying to rush to buy Chaigou's head picture. The effect was just to comfort the fans. At present, ultra Pro company tacitly allows dog coin to borrow its logo, but it may be withdrawn at any time
5. Chinese speculators have completely dominated dog currency trading, and the trading volume of domestic exchanges accounts for 90% - 95% of the global total. It can be said that dog coin has been fully accepted by the Chinese, and the degree of nationalization is far higher than bitcoin, reborn coin, bitstock, and even higher than Leyte coin. The terrible thing is that Chinese speculative market is seriously separated from foreign community culture. The Chinese controlled the trading volume and chips, but never went deep into the foreign community of dog coin. They not only did not participate in any development of dog coin, but also completely ignored the tip and charity culture of foreign dog coin. Chinese speculators regard foreign communities as "idiots" who constantly create favorable conditions. Foreign communities regard Chinese speculators as the cancer of price manipulation. This is the separation of the interests of speculators and currency experimenters, which is inexcusable and irreconcilable
6. At the price of 1%, the main value of 100 billion yuan is 100 million yuan, and the annual value of 5.2 billion yuan of new mines is 5.2 million yuan. In the off-season, the global daily trading volume of dog coin is only 100000-150000 yuan. In case of systemic risk and large-scale cash out of users, it is impossible to have enough funds to resist the current price. So, where did the money go? The answer is that most of the locked up funds have been taken away by miners, and there is no possibility that these funds will return to the dogcoin market. If you want to get rid of the powder, you can only make a false appearance and cheat the new people to add fresh blood.
on April 1, Beijing time, Elon & middot, CEO of Tesla; Elon Musk tweeted that space X would bring a dogecoin to the moon. Affected by the news, as of press release, the dog currency rose to more than 14%
what is dog coin
dogecoin is called & lt; Dog Coin / Dog Coin;, Born on December 8, 2013, based on the crypt algorithm, it is the second largest virtual currency in the world after bitcoin in terms of the number of users. Digital currency is a global currency initiated by non-governmental organizations. It does not belong to a certain country, but belongs to all mankind. It has the advantages of fast global transfer speed. For example, money can be remitted from China to the United States in a few seconds, and the cost is low, and the total amount will not be increased at will like legal money, so the total amount is relatively stable{ RRRRR}
Previously, Elon & middot, founder and CEO of Tesla; Musk said on social media that space X will bring a dog coin to the moon
# doggy coin # was ranked 18th on the microblog hot search list. According to the data of fire coin trading platform, doggy coin rose straight in the morning. As a result, the price of doggie currency rose sharply, up 19.50% in the day, and its market value rose to US $8 billion. Since the beginning of this year, the long silent ancestor of air money & mdash& mdash; The price of dog coin has gone up by 1400%
maybe many people have the same doubts as me. Today, let's get to know what dog money is
Some people call it & quot; Dog Coin / Dog Coin;, Born on December 8, 2013, based on the crypt algorithm, it is the second largest virtual currency in the world after bitcoin in terms of the number of users{ RRRRR}in addition, musk has repeatedly called for bitcoin on social media, and directly expressed support for buying Tesla cars with bitcoin
is called & lt; Dr. doomsday & quot; Nouriel Roubini, a well-known economist at the U.S. Securities and Exchange Commission, pointed out that Musk's tweets about bitcoin are market manipulation and should be investigated by the securities and Exchange Commission
On April 15, the dog coin rose 50%; On April 16, it soared again, with an increase of 250% in 24 hours, reaching a maximum of US $0.47 per piece, and its total market value once exceeded US $60 billion
Recently, with the rise of many virtual currencies, the time for bitcoin to rise from more than 1000 yuan to 10000 yuan should be longer than that for dogcoin to rise from 1 Li to 10 cents. If we look at the cost of digging dogcoin in two months, it will be halved. That is to say, with the same computing power, the cost of digging dogcoin will double in two months, It is the key to the survival of a currency, and the emergence of Dog Coin miner is the biggest support for dog coin's computing power. If the computing power doubles, the cost of digging money will also double. The cost of digging money is the support point of the price, so I can only think that it is not impossible to break through one dollarMusk once tweeted: & lt; Dogecoin is probably my favorite cryptocurrency. It's very cool;. Due to the influence of the world's richest man, many people may have heard of dog coin before, but because of its random name, many people may not really pay attention to it
Maybe it's just in line with the Internet trend of Doge's online craze in 2013. Doggie coin was quickly recognized on reddit after its launch, and became a reward tool for tipping onlineafter years of use and circulation, dog coin has been scattered in the hands of countless users, and has a fairly broad mass base
back to the beginning, Elon Musk, who had been fined $20 million for his improper words and deeds, was obviously just talking casually. Before long, he issued a warning again, saying & lt; Dog value may vary;, Combined with the time of tweeting, take it as an April Fool's Day joke
on the platform of virtual currency, most projects are & lt; I'll be on the stage after the other party's singing;, Dogcoin evolved from bitcoin, positioning itself as a reward for the Internet, plus the people friendly & lt; Chai Dog & quot; Image and clear positioning, rapid access to the majority of users, which has a longer life cycle
at present, dog coin is mainly used for community reward and can be used in online communities in fact, the dog coin can get such a high degree of attention, mainly because of Musk's drive. It keeps posting on social platforms that dog money is very promising. At the same time, musk himself keeps buying this kind of dog coin, and even says that he will put it on the moon. Considering that he once put Tesla into space, many people believe him very much. Driven by musk, dogcoin did perform well and soon became the second largest cryptocurrency in bitcoin
