If someone had told you a few years ago about about some crazy idea involving using computers to “mine coins”, you would have thought they were talking about Minecraft or that they were just crazy. What if they had also told you that you could run a simple program on your computer when you aren’t using it to make a few thousand of these cyber-coins a day? You would definitely had called them a whack job wasting your time.
BitCoin(BTC), at the time of this article, is hovering just under $600 after a $1200 bubble pop a few weeks back. Now close your eyes and think back to that year or so ago when you first heard about BitCoin. Are you there? Remember you were told you could make thousands per day? Yeah, makes you sick doesn’t it, because I know a lot of you did hear about BitCoin a year or more ago.
Well, there may still be some golden opportunities on the Crypto & Currency frontier. A new dog is in town that just started in early December called Dogecoin, using Ð (the Latin capital letter for eth) as it’s symbol. There has been much written on how one pronounces Dogecoin, or doge for short, but I’ve been reading it as “Dog-E-Coin”. That really isn’t important, but it’s nice to have the voice in your head say it with confidence. What is important, however, is that while no one expects Ð1=$1000USD, there’s no reason it can’t reach at least Ð1=$1USD. Even if it only reaches $0.01USD, Ð10k=$100USD.
For example, I am making Ð10k a day right now. Of course how much you make depends on your hardware, but as time goes on, it gets harder to mine and your average will drop. The trick is to get in early and hold out for the long term. To illustrate why, the first 100,000 places mined(blocks) contain a random number of coins between 0 and 1 million maximum. After that first 100k block, the maximum number drops, so those blocks have the most potential. BitCoin has matured past that point so far that it takes large computing resources to mine effectively. As of this writing, the Dogecoin network is in the 23k range, so there are well over 75,000 blocks with a potential 1 million coins in each!
Even if Dogecoin becomes totally worthless, you will have gained valuable knowledge into the currency of the future. The best part is that it’s really easy to get started. If any of my friends want more information, want to get in on the fun, or just help me by running a miner for me, contact me via Skype or on IRC #doge irc.installgentoo.com. If you already know what you’re doing, join the InstallGentoo pool and help us solve some blocks!