Can Dogecoin Really Go Whale Hunting?

in #dogecoin4 years ago

Most Bitcoin proponents understand the concept of the double-spending problem that the blockchain addressed. But what about a backdoor method -- similar in principle to how a special purpose acquisition company (SPAC) might work -- which effectively sidesteps the double-spend preventative architecture?

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That's the crazy thing about Dogecoin. Yes, it's a joke cryptocurrency but what it created -- essentially a viable ecosystem around the DOGE token -- is not. In fact, what Dogecoin proved is that anyone can create their own cryptocurrency and with tons of effort and even more luck, can foster an artificial economy.

From there, the new crypto could be exchanged for valuable assets, such as Bitcoin. It's an interesting concept that I've explored in this article for InvestorPlace -- https://investorplace.com/2021/03/dogecoin-can-go-whale-hunting/