😎 Summer Sale Exclusive - Up to 50% off AI-powered stock picks by InvestingProCLAIM SALE

Dogecoin Founder Chooses Bitcoin Over DOGE

Published 06/17/2024, 08:06 AM
Updated 06/17/2024, 11:30 AM
© Reuters.  Dogecoin Founder Chooses Bitcoin Over DOGE
BTC/USD
-
DOGE/USD
-

U.Today - Billy Markus, the co-creator of Dogecoin known as Shibetoshi Nakamoto, recently expressed his preference in the ongoing debate between Dogecoin (DOGE) and Bitcoin (BTC). When asked whether he would choose DOGE or BTC, Markus replied that he would rather have one Bitcoin.

This preference is not surprising given the significant difference in value, with BTC currently priced at $65,800 and DOGE at $0.13.

However, evaluating Dogecoin based only on price overlooks some of its unique advantages. While Bitcoin is widely recognized for its market dominance, utility and acceptance, DOGE has its own features that make it competitive in certain areas.

Thus, Dogecoin transactions are typically faster and have lower fees compared to Bitcoin. This efficiency makes DOGE more suitable for everyday transactions and micropayments. In addition, Dogecoin benefits from a vibrant and welcoming community that has successfully used the cryptocurrency for charitable purposes and online tipping.

DOGE's inflationary supply model also sets it apart. Unlike the 21 million capped supply of BTC, Dogecoin produces five billion new coins each year. This continuous supply can encourage spending and circulation, making it a potentially more practical option for everyday use.

In addition, Dogecoin's brand recognition and cultural appeal contribute to its popularity. Originating from the meme, DOGE has gained widespread recognition and appeals to a broad audience, especially those who might find the financial seriousness of Bitcoin too daunting.

This article was originally published on U.Today

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.