Dogecoin Co-Creator: Cryptocurrencies Becoming 'Greatest Economic Experiment'

Dogecoin Co-Creator: Cryptocurrencies Becoming 'Greatest Economic Experiment' Jackson Palmer is the Sydney-based Australian product manager for the software giant Adobe who co-created the hot altcoin “dogecoin” that launched just last month.
Dogecoin — whichever way you pronounce it — is a viral sensation which grabbed mainstream media headlines recently for helping propel — via donations of dogecoins — the Jamaican bobsled team to Russia for the Winter Olympics.
“It’s important to know that cryptocurrency started out as an experiment,” Palmer tells Australia’s The Age news site (see full interview below). “It really is one of the greatest economic experiments of our generation. We’re still learning. It’s been only four or five years since bitcoin was launched. There is a lot of teething issues we’ll eventually get through.”
Dogecoin’s skyrocketing acceptance by the virtual currency community is symbolic of how fast cryptocurrencies are evolving and spreading in acceptance, just as the mother of all cryptos — bitcoin — is starting to generate more intense interest this year from government regulators globally.
“The way banks and governments have reacted to it (bitcoin)…they’re just learning like everyone else is…and regulators are going to eventually start stepping in,” Parker said. “We’re seeing some of that in China. They kinda had a knee-jerk reaction and started banning bitcoin transactions. But the nature of bitcoin is that it is de-centralized. So everybody participating in the network holds a whole copy of the newtork on their computer.”
Palmer was interviewed by The Age’s Stephen Hutcheon, and asked about dogecoin and the rise of crypotcurrencies overall. Dogecoin’s other creator is Billy Markus, a software developer at IBM, based in Portland, Oregon. By the way, it is pronounced: “dough-je coin”.
Here’s Hutcheon’s explanation:
“The doge meme takes its name from a reference on an episode of a popular 1990s internet cartoon series called Homestar Runner. The term ‘doge’ was revived, mashed-up with a quirky photo of a pet Shiba Inu dog and then sprinkled with a few ungrammatical phrases written in the much-maligned comic sans font. Last year, it exploded across the internet.”
Here’s Palmer’s take on the cryptocurrency he co-created:
“Dogecoin has secured itself as the internet currency…whereas something larger like bitcoin is for massive, larger transactions..people are buying yachts with it.
“Dogecoin is being used as a tipping currency, where people are giving kudos to somebody if they post a good piece of content or a link to something they love … people are using it for micro-transactions. I think we’re going to start seeing it integrate in online games…where you can purchases extra credits.”

2 thoughts on “Dogecoin Co-Creator: Cryptocurrencies Becoming 'Greatest Economic Experiment'

  • January 26, 2014 at 3:31 pm

    But the circumstances of the Christmas day theft of over 30 million doggycoins (my preferred pronounciation:) from a supposedly safe online dogewallet affiliated to shows just how amateur these operators are and how naive consumers of this neverland currencies are. So far (despite claims to the contrary) no one has been reimbursed – in fact rumours suggest another gang heist is on its way. So.. much rubbish, much disappointment. And for those that are interested plans are afoot to subpoena and sue those who we entrusted our virtual currency to. One word – and its similar to ‘shibe’ – anyone for T?

  • January 27, 2014 at 3:32 am

    After quickly reaching a $60 million valuation in a few short weeks the shibes in /r/dogecoin have doubled down on their commitment to fun over profit. If you have made money with dogecoin, great.
    The only promise being made by the community is that if you invest some of your time you will be rewarded with good natured fun! I can’t think of a better use of my internet connected time. To the moon!

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