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Dogecoin co-founder Billy Markus, who goes by Shibetoshi Nakamoto on X, recently reflected on a Galaxy Research piece from May 2021.
The article delved into the whimsical and unconventional nature of Dogecoin. This cryptocurrency started as a joke in 2013 but has since gained a massive following and significant market value, and likewise, the design choices that shaped Dogecoin.
One line from the article particularly stood out to the Dogecoin co-founder: “Monetary flexibility. Dogecoin’s unreasonably short maturity window wasn’t the only bizarre design choice made by the creators of the asset.”
Markus noted this as his favorite line in the piece. In his usual witty character, Markus offered a simple and humorous explanation for Dogecoin’s seemingly unusual design choice: “I did it cuz I thought it would be fun.”
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This statement encapsulates the lighthearted culture behind Dogecoin. Despite its meme origin, Dogecoin has grown into a well-known digital asset, supported by a dedicated community.
Dogecoin: One of crypto’s most interesting phenomena
The Galaxy Research article praised Dogecoin for its honesty and transparency, noting that it does not pretend to be anything more than a fun and accessible digital currency:
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“The appeal of Dogecoin has always been its honesty. Dogecoin is an open-source peer-to-peer digital currency, favored by Shiba Inus worldwide, proclaims the official website. Unlike many other cryptocurrency projects, Dogecoin does not seek, or even pretend, to be anything more than to be the world’s most fun currency. Dogecoin had a fair launch, like Bitcoin, meaning there was no token presale, pre-mine, or VC fundraise. Consequently, there’s no business development or marketing department promoting the coin for the benefit of insiders.” It noted that the whimsical cryptocurrency despite its supposed shortcomings remains one of crypto’s most interesting phenomena.
At the time of writing, Dogecoin was up 1.21% in the last 24 hours to $0.408. It is ranked the seventh largest cryptocurrency with a market capitalization of $60.06 billion.