Bitcoin Alternative Dogecoin Soars 900% As Other Crypto-Currencies Suffer

  • Created in early December, dogecoin is one of a growing number of crypto-currencies which function in a similar way to bitcoin.
  • 9% of the total 100 million dogecoins have been mined, but as with bitcoin, extracting the coins will get more difficult – and slower – over time.
  • Although each dogecoin is only worth a fraction of a bitcoin – and a fraction of a dollar – the currency saw massive growth while bitcoin, litecoin and most other crypto-currencies reported heavy losses , sparked by the Chinese central bank’s decision to ban financial services from dealing in bitcoin.
  • Apple’s proposed €850 million (£644 million) data centre in Ireland is set to become the country’s biggest
  • Although bitcoin now stands at around $700 per coin, it has fallen significantly in the last week from a high of $1,200 – a fall blamed on the actions of the Chinese central bank effectively blocking its citizens from using the currency.

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@desantis: “@bitstein @hrdng just you wait… I’ve been hearing some *crazy* rumors about this new #Dogecoin thing. Much wow!”


‘Bitcoin Alternative Dogecoin Soars 900% As Other Crypto-Currencies Suffer’ on Yahoo Finance UK. They are all decentralised, with no backing from any country or bank, and they can be traded online for fiat currencies like dollars and sterling. Although each dogecoin is only worth a fraction of a bitcoin – and indeed, a fraction of a dollar – the currency saw massive growth while bitcoin, litecoin and most other crypto-currencies reported heavy losses, sparked by the Chinese central bank’s decision to ban financial services from dealing in bitcoin. In seven days Dogecoin has increased in value by 935%, and its users hope it will soon be more valuable than some real world currencies, such as the Zimbabwean dollar. One thousand Zimbabwean dollars is currently worth around $2.76, while the same number of Dogecoins was worth $1.28 at its peak, but the currency has since dipped to $1.07 per thousand coins at the time of publication.


Bitcoin Alternative Dogecoin Soars 900% As Other Crypto-Currencies Suffer