Categories: Altcoin News

Meme Currency and the Future of Cryptocoins

30/12/2013 20:18
EST. Journalist:

If, in the year 2012, I told you that there would be a cryptocurrency based off a 4Chan joke (a popular internet message board), you might have laughed me out of the room, and with good cause.  While it may seem preposterous that a meme would turn into an online currency and gain real traction, it has already happened.

DOGEcoin, the preferred coin of Shiba Inu’s around the world started off as a joke/meme with the caption ” So Crypto, Much Coin”. It quickly became one of the most popular threads on 4 Chan.  After making it’s rounds on  Reddit and other “front pages”  it quickly transformed into more than just a meme. A few days later this meme turned into a full blown crypto currency with wallets, exchanges and willing brick and mortar merchants.  While dogecoin may not be most viable crypto coin for the future, it does shine light on a fascinating trend that is taking place.

A new trend which I like to call “swarming” is happening on a larger and larger scale. As we grow more deeply connected with the web, we flock to various social media websites/applications; one year they are immensely popular, then abandoned in favor of a newer site. I believe that this trend will continue and that the shifts from one venue to another will become faster and faster. While this may be dizzying to some, I believe that it will create a greater pressure for businesses to provide a quality product or service.

Dogecoin may be absolutely ridiculous in theory, but it shows us just how quickly an idea can be adopted by large groups of people and turned into something else that is completely viable. I would not be surprised if we saw dogecoin gaining serious traction in 2014 and competing on a more serious level with other cryptocurrencies.

This post was last modified (EST) on 31/12/2013 06:19

Jonas Borchgrevink @JonasBorch

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

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