Coindesk: Why bitcoin needs ATM and Dogecoin for mass adoption
Dogecoin came on the cryptocurrency scene as a total lark, but its ability to convey a simple message is what has made it such a transformative altcoin, the panelists said.
As noted at last week’s Bitconference California, many people who have gotten on the dogecoin bandwagon probably haven’t even touched bitcoin. It’s brought a totally different crowd, especially women and younger people who never have been interested in bitcoin.
Said Pierce: “Almost all of the altcoins, with the exception of dogecoin, people had had experiences with bitcoin.”
Safahi told the audience that adoption is about breaking down decentralized forms of money into simple language.
”I think part of the branding strategy is making the terminology more user friendly.”
Not many dogecoin fans care about things like risk, volatility and compliance. To them, dogecoin is just a new way to give credit for interesting things that are on the internet. “People aren’t concerned about volatility [with dogecoin]. They are kind of just giving it away,” said Pierce.
There’s also an interview with jackson palmer on coindesk
“I think there was a lot of negativity and a lot of angst in the bitcoin community,” Palmer said.
Along comes this altcoin with a doge face on it, and it brightened people’s perceptions of cryptocurrencies. ”People were being friendly to one another. I think people took some solace in that,” he said.
Dogecoin has hit demographics that other coins haven’t been able to touch. That includes women, high schoolers and anyone who loves the idea of memes.
And what’s still remarkable is that it all started with a simple Twitter status update. ”There was no master plan,” Palmer says. “A lot of people are like: ’Oh you’re in marketing. This must have been something that you thought about for weeks and architected’.”
“And I’m like, no, it was a tweet, on a whim.”