Dogecoin Memes Versus Reality

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Dogecoin Shiba Inu

A meme acts as a unit for carrying cultural ideas, symbols, or practices that can be transmitted from one mind to another through writing, speech, gestures, rituals, or other imitable phenomena ...

DogeCoin has been a symbol used to transmit various memes relevant to cryptocurrencies, but do any of these memes really make any sense, and does Dogecoin really represent them?

Dogecoin Is not for Greedy People to Invest In (Read: We are not the Greedy People)
We have all seen the endless articles and statements that Dogecoin is not to be invested in for capital appreciation.  Does this often stated and central meme of the Dogecoin currency stack up to any tangible reality, something that actually differentiates it from other coins?  The actual fact is that 75% of the total number of all Dogecoins are held by 0.75% of investors AND this inequity has been INCREASING.  Don't believe me just check:  https://bitinfocharts.com/ (Click on richest addresses)  Yes, this is the currency of the poor, of the downtrodden, of the ones who care, who are not greedy!  In fact Dogecoin represents one of the most concentrated accumulations of wealth in the hands of the very few than any cryptocurrency.  Yes, the contradiction could not be more perfect, but it doesn't matter because we are talking about MEME PROPAGANDA.

Making Fun of Bitcoin
The first and perhaps original Dogecoin meme was to make fun of Bitcoin.  This meme makes sense until we realize that Dogecoin is a copy of Litecoin, which is a copy of Bitcoin.  This means that the supporters of Dogecoin are left with the contradiction of supporting what they were originally trying to make fun of.  I believe it may have to do with the psychology of those who missed the first boat and are looking for a graceful way to get on board.  To be fair, perhaps they also do not agree with some of the Bitcoin values and want another vehicle to assert their ideals.  For example, Bitcoiners do not believe in endless centralized FED printing as something that makes sense, and the coin is capped at 21 million.  Dogecoin by contrast can now be printed to infinity just like fiat currency.  Maybe Dogecoiners can also allow a central Federal Reserve to 'print' against their coins, and use the money to pay for government programs.

DogeCoin Is Not About Money
We see this meme consistently in the Dogcoin propaganda.  The creator of Dogecoin recently refused 500K in business deals because business and deals are evil and Dogecoin is good.  What a bunch of bull.  The creator of Dogecoin created MONEY, think about it folks.  Money is all about selfishness and greed at least that's what you think if you like the original meme, in other words: a perfect contradiction.

Famous Dogecoin Transactions
Everyone who follows Dogecoin is aware that for some time Dogecoin transactions actually exceeded Bitcoin transactions.  In fact the transactions which had been running at more than 4x total Dogecoin market cap PER DAY now seem to be coming into orbit for no apparent reason except someone got tired of spamming the network, or they realized: 4x market cap transactions per day is not economically believable, duh.  So MUCH Money.  Again it appears Dogecoin is either being run by strategic marketers or some of the greediest investors willing to do things like spam transactions.

DogeCoin New World Order Conspiracy?
Folks, I'm just having fun, but check out this image.  Why is the total number of US Nodes always 51%?

DogeNodes
Dogecoin Nodes: We see the US currently with 51% of all nodes.

Why do all the banker payed off publications support Dogecoin?  Ask yourself these questions.

Dogecoin as an Investment
My take is buy.  Let's face it every propagandist since Hitlers Chief Propagandist Joseph Goebbels, (sorry to bring up a serious topic), has known that the vast majority of people can be controlled by memes, and the best memes either make no sense, or are totally false, just like all the Dogecoin memes.  Therefore, Dogecoin should be a great investment.

In reality, and aside from memes, Dogecoin does have some fantastic numbers especially in terms of nodes and transactions.  We have seen before that these numbers may be inaccurate, but I suspect it is priced at a discount compared to some other coins.  In fact it is priced at a vast discount compared to its still relatively high transaction levels and number of nodes.  The question will be: Do people get tired of the meme?  Is it just a flash or can the Dogecoin supporters sustain their momentum?  I am not actually against the coin as I think some coins may bring new people into the market.  Dogecoin represents a chance to educate more people about Bitcoin.

Aside from investing and on a more political level cryptocurrencies represent a possible escape from central banks and central authorities.  But this escape could be short, and central authorities could quickly gain control of virtual currencies.  The conflict has been entered and whether or not those in the Bitcoin movement realize it we are in a war for our values.  The other side may use techniques that we could not imagine.  They may control media, emit FUD, make coins, and ruin exchanges.  We must be aware of these things or soon again we will be under the controls and tyranny of central authorities.  Sadly I can report that many publications, even Bitcoin publications, are supporting the drive for central controls.  It is easy enough to influence these relatively low paid publications with the mega money of endless printing.

Last modified (UTC): February 23, 2014 7:32 PM

About the author

Jonas Borchgrevink

Founder of CCN.com and Hacked.com. Passionate about how technology can empower people to create a more just and sustainable world.