Dogecoin, the legendary cryptocurrency created by Billy Markus and Jackson Palmer in 2013, holds within its origins the narrative of its inception a decade ago.
Yet, more pivotal than its creation story is the revelation of a profound secret, one that has sustained its existence in the market and promises a prolonged future.
Some argue that this “mistake” has granted Dogecoin a substantial edge over Bitcoin as a tangible alternative for currency. Here is how Markus and Palmer birthed the Dogecoin, unraveling the tale of the first steps into DOGE’s digital genesis.
Markus published Post X, sharing glimpses into the creation of the world’s first cryptographic currency. While not divulging all details, his tweet from December 6, 2013, a decade past, hints that Jackson Palmer proposed the idea for Dogecoin.
Markus found it intriguing and responded, offering his services as a cryptocurrency developer, directing Palmer to a bitcointalk forum thread containing the currency’s embryonic details and its coined symbol – “Doge.”
“Then, a series of peculiar events occurred, and now the currency is valued at $14 billion for some reason.”
A Lingering Oversight in Dogecoin
Account X, with slightly over 300,000 followers, pointed out to Markus that Dogecoin possesses an unusual feature – “Dogecoin has no artificial limit on the number of coins that can be mined.
The user highlighted this as an advantage, positioning DOGE favorably against its predecessor, Bitcoin, which has a fixed supply of 21 million, implying that Dogecoin could practically replace conventional paper money.
Markus clarified that he was aware of this feature, citing it as a “flaw” intentionally left by him and Palmer. They never anticipated Dogecoin’s existence to surpass a year, assuming people wouldn’t sustain interest in this satirical mimicry of Bitcoin and its emblem for longer.
Nevertheless, Markus admitted that the oversight “gave it a long tail.” He acknowledged that if they had rectified this issue, “Dogey would have died many years ago.”
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