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Dogecoin has been an interesting journey into digital currency. There’s the obvious Josh Wise road trip that inspired Dogecoin users to go somewhere they had never traveled before, and then there are the dark corners and public fighting that no one really wanted to visit in the first place. Even with the bad, Dogecoin has gotten some first-time crypto users to take a serious look into cryptocurrency, much like a well-planned and highly beneficial public relations stunt.
While Dogecoin users may be great at utilizing PR tactics, they’ve made it pretty clear that the plan is for Dogecoin to stick around for a long time. Posts constantly reach the front page of their subreddit reminding the userbase that while Dogecoin was born out of a joke, it is no laughing matter economically. The coin is currently second place in front of all of the altcoins, beating out Litecoin and Reddcoin.
It stems from an ongoing battle between Alex Green of Moolah.io and a few very prominent figureheads in the Dogecoin community. Things have gotten ugly, but when articles began claiming Dogecoin was dying due to Green’s dispute, he was quick to respond. Green has made it clear that his business does not depend on Dogecoin, and Dogecoin does not depend on his business.
“Dogecoin currently accounts for less than 10% of our transaction volume; if Dogecoin failed, we would survive,”
Green said in response to the aforementioned scathing article,
“With attacks like the one you have crafted however? I’m not so sure.”
The attacking post on Dogecoin and Green was rather brash and clearly biased, but Green spared no feelings in telling the author how he truly felt. “The author of this article should give up his day job and move into a field he is more suited for,” he said. “Writing is not where his talent lies.”
Since the article was published, Dogecoin has seen nothing but life. Its value has increased 20 percent, and its community has been digging back into its roots of togetherness. It brings the question: Why has so much weight been put on one CEO’s shoulders?
If Jackson Palmer, Dogecoin’s co-creator, taking a break from a major Dogecoin community didn’t hurt the value, why would a CEO’s words be seen as any different? While Green’s social skills may be lacking in the public relations department, that doesn’t mean he carries the weight of the currency on his back. In fact, the markets have shown quite the opposite.
Take Mark Karpeles of Mt. Gox. He’s obviously caused a lot of turmoil in the Bitcoin community but not because of his social relations. It was his business failures that damaged Bitcoin’s value. The view has been warped due to users placing the blame on him directly. Because of this, the line between faulty business practices and social relations has been blurred for everyone.
In the light of the social drama, Green has expressed that he is considering stepping down temporarily as CEO.
“Moolah is not closing, but I am considering stepping down as CEO over a 12-month period.”
It’s clear that Green’s social and business practices have come under scrutiny, but Dogecoin’s value does not rest on one man’s social skills alone. When looking at Dogecoin from an economic standpoint, look at the markets. When looking at Dogecoin from a social standpoint, look at the community as a whole. Individual people will do as they please, but the markets always show the true value.
When asked for further statement from Green on the matter, it was met with no response.
Disclosure: I do write for Very Much Wow | The Dogecoin Magazine and do get paid in Dogecoin monthly.
Featured image by Shutterstock.
Last modified (UTC): October 15, 2019 14:20