How A Meme Became A Currency And Paid For The Jamaican Bobsleigh Team

You all know bitcoin, presumably. That internet currency that was big a while back and now isnt as big but is still quite big thats really the only way to describe it. Its secure, untraceable and drugtraffickers100% love it.

Well theres another online currency thats been growing from strength to strength recently that you might not have heard about. Dogecoin

To tell you about this, were going to have to go into its history. And we mean right to the beginning.

So we all know Doge. The jovial, yet slightly confused, shiba inu that took the internet by storm a couple of years back But who is Doge?

In October 2010, someone posted a picture of a corgi onto reddit with the caption LMBO LOOK AT THIS F*****N DOGE. That was the conception on the word. From then, people all over the web were posting pictures of dogs and calling them DOGES.

Meanwhile, a Japanese school teacher had a blog where she shared pictures of her shiba inu, Kabosu, which, for the most part, everyone ignored.

Until July 2013, when Shiba Inus had taken over the doge scene and someone dug up that famous picture of Kabosu and used it for their meme. So Kabosu become the face of doge.

So thats enough history on a meme. Now to the currency.

In December that year, a member of a Bitcoin forum, named Dogecoin, introduced his new e-currency, based on the meme, as a satirical take on Bitcoin.

No one took it seriously, obviously. Its money based on a funny picture of a dog, afterall. That is until there was a crowdfunding opportunity that the whole community jumped on. The Jamaican bobsleigh team looked set to qualify for the 2014 Socchi Winter Olympics but they couldnt afford all of the other stuff.

They need $40,000 for equipment and travel. 27,000,000 dogecoins were raised over 2-3 days (over $30,000) so the team could go.

Its like Cool Runnings without the inspirational montages and witty tte–ttes.

They also raised $7000 in a few hours to send an Indian Shiva K.P. Keshavan to the same Olympics to compete in the luge as his country couldnt afford it anymore.

Doge coin used to be dependant on bitcoin as you used to needed to buy doge through converting it from bitcoin. Now you can use actual real money and everything!

Its now the fifth biggest online currency and its growth is absolutely huge.

From something that started 100% as a joke, it’s pretty cool that they’ve managed to make a difference like they have. I mean it makes me feel totally useless but whatever…

Read more: http://www.hellou.co.uk/2016/01/how-a-meme-became-a-currency-and-paid-for-the-jamaican-bobsleigh-team-78192/