The Man Who Dodged The Dogecoin
And how he got scammed
Everyone, meet Dogecoin. Dogecoin, meet everyone.
Dogecoin is a digital currency based on the doge meme about a happy Shiba-Inu. Like other cryptocurrencies, Dogecoin can be an invested in or traded to make profit. What’s interesting is that platforms like Reddit use Dogecoin as a type of virtual tip — you can, then, invest it or pay it forward.
The Dogecoin community has frequently raised funds for charitable causes. In January 2014, Dogecoin raised $50,000 to get the Jamaican Bobled Team to the Sochi Winter Olympics. “They helped build water wells in Kenya and raised money to help train assistance dogs for autistic children.”
The Birth of Dogecoin
Jackson Palmer unknowingly predicted the future on 28 Nov, 2013. Twitterati encouraged him to make this tweet a reality. To keep the joke going, Palmer bought Dogecoin.com.
Enter Billy Markus, an IBM software engineer. Before he even heard of Dogecoin, he was working on a different cryptocurrency. Unfortunately, it didn’t sit well with the cryptocurrency community. Markus was going to retire when he saw Palmer’s tweet.
Eventually, Markus reached out. Palmer didn’t respond immediately but eventually it all worked out. Palmer and Markus launched Dogecoin in the market on December 6th, 2013.
Upon launching, Dogecoin was taken lightly by the majority of users because the name ‘doge’ was adapted from an internet meme. People thought it’s a joke. To keep the joke rolling, more and more people purchased the coin. As a result, Dogecoin gained popularity through social media platforms, mainly Twitter and Reddit. Reddit created a “Dogebot” that could be used to tip other Redditors, say, five Dogecoin.
The Guy Who Ruined Dogecoin
Alex Green, a British man ran Moolah, a cryptocurrency exchange company. Green was an active member of the Dogecoin Sub-reddit. He even donated generously to causes that the Dogecoin community cared about.
Most redditors tipped single dogecoins; in return, Green tipped in thousands. Soon, Green started hiring people from the Dogecoin community. This got people suspicious and thought Green was trying to take over Dogecoin.
In October 2014, Moolah went bankrupt and Green dissappeared with the money. An ex-gf of Green reached out to Palmer to reveal that Green’s real name is Ryan Kennedy and is a serial scammer, serial rapist, and physically and emotionally abusive. “He was emotionally, sexually and physically abusive, putting his needs above all else.” What a POS!
The Rebirth of Dogecoin
In July 2020, TikTokers started the Dogecoin challenge. “TikTok user James Galante began urging his followers to buy Dogecoin in June, claiming they could “all get rich” if enough viewers invested $25 in the coin.” Since then, dogecoin’s value sky-rocketed.
The next push came in January 2021 when Elon Musk simply tweeted “Doge”, only to be helped further by Snoop Dogg and Gene Simmons.
Moving Forward
Following Moolah’s bankruptcy, Palmer announced his leave from the cryptocurrency community. Now, he’s a youtuber and urges others NOT to invest in cryptocurrency. Unrelated to the bankruptcy, Markus sold all his coins to buy a Honda Civic. “Markus went on to note that he is not getting rich off Dogecoin.”
Markus and Palmer maintain that they are very proud of the Dogecoin community and raising funds for meaningful causes. They just hope “…Dogecoin will always be remembered fondly.”
