It is taking off over at Reddit and is quickly becoming one of the top cryptocurrencies... thoughts?
It makes me realize how weak/strange crypto-currency can be, I suppose. The problem with a market handled exclusively by the internet is that the internet is crazy, fickle, and prone to always going against your expectations. I don't like that in my money, doge.
I think that it's going to have interesting implications for technology development. In a similar manner to Bitcoin, if it keeps increasing in value, more people will start mining and start using it. This will eventually require new ways of mining it as GPUs won't be cable of mining any more. I think that there will be more and more companies developing custom boards to validate the cryptocurrency. As these are all different types of encryption these may be used against other encryption algorithms and may force other security areas to research new ways to encrypt and compress information to make it secure. Aside from the on going technology implications of these types of currencies, I think that the community is a healthy one. Right now it's almost the opposite of the Bitcoin, where Bitcoin was used a great deal for drugs, there's been a lot of positive press with them helping at least 2 Olympic groups get to the Olympics. That's pretty cool. Personally, I haven't invested in any cryptocurrency, but I think they are interesting and will likely continue to have a presence online. I think that they will continually evolve and change to remain secure. I'd be surprised if Bitcoin was popular long enough to hit the maximum circulation (thankfully this is on the internet and will be something to mock me with in a few years when this is totally wrong). Dogecoin is just one of the cryptocurrencies that we'll see over the next few years that take off and then come back to earth.