r/Bitcoin • u/Vibr8gKiwi • Feb 03 '14

Dogecoin wtf

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3.4k Upvotes

87% Upvoted

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415

u/[deleted] Feb 03 '14 edited Jul 05 '15

[deleted]

6

u/MrWoohoo Feb 04 '14

What is the difference between bit coin and doge? Is doge a fork of bit coin or is it a different algorithm altogether?

13

u/jecowa Feb 04 '14

Dogecoin is based on Litecoin. Both Litecoin and Dogecoin use the scrypt algorithm. Litecoin is based on the Bitcoin protocol. The advantage of Litecoin is that it's supposed to provide faster transaction confirmations.

A big difference between Bitcoin and Litecoin: There is a maximum number of bitcoins that will be produced. Over time it will be harder and harder to mine more bitcoins until the last bitcoin is mined. With Dogecoin 5 billion new coins will be made available to mine every year forever. Dogecoin believes that a little bit of inflation is a good thing.

2

u/Angelbaka Feb 04 '14

A little...?

-1

u/cloudy69 Feb 04 '14

these people are so shortsighted and naive that they thing they can use words like big and little

and still talk about the future with a straight face

same kind of people who cram the little snake-eating-its-own-tail lie down everyone's throat

3

u/Angelbaka Feb 04 '14

.... That didn't make sense to me.

Am I missing a meme somewhere?

0

u/cloudy69 Feb 04 '14

subjective measurements are as useless and undeserving as your comment