Bitcoin Forum

Please don't remove this to Meta or Alt-currency. This is not just about Dogecoin, but about CryptoCurrency in general.  This story demonstrates the sustainability and functionality of Cryptocurrency. It demonstrates a perfect example to the Bitcoin haters why cryptocurrency is the future of payments.

Yesterday someone sent approximately $11,000 via Twitter to Doges4Water, a fundraiser to build 2 wells in drought stricken Kenya.  That transfer cost the sender about $0.01 and occurred almost instantaneously because it was done with cryptocurrency.  How much would it have cost if that donor used their credit card, western union, SEPA, etc. and how how long would it have taken? This is a excellent example to the Bitcoin haters of how efficient cryptocurrency is.

 

$10,000 tweet puts Dogecoin fundraiser for clean water in Kenya over $30k goal
Posted: 16 March 2014

March 17, 2014 – NEW YORK A $10,000 tweet sent the Doge4Water fundraising campaign over its $30,000 goal and set a new standard for the impact of 140 characters. An anonymous Dogecoin philanthropist used twitter to tip 14 million Dogecoin, worth more than $11,000. The surprise tweet sent shockwaves through the Dogecoin reddit community, which had already made more than 4,000 donations totalling 26 million Dogecoin (equivalent to more than $20,000). The Doge4Water campaign benefits charity:water in celebration of World Water Day on March 22nd.


“This was one of the more inventive campaigns we’ve seen,” said Paul Young, Director of Digital for charity:water. “The Doge4Water campaign started with a tweet, harnessed the powerful Reddit community passionate about Dogecoin, and then hit its aggressive goal with a tweet that triggered a donation of Dogecoin worth over $10,000. 100% of the funds raised by the Dogecoin community, once converted into US dollars, will be used to bring clean water to people in need in Kenya through our local partner Action Against Hunger. We’re thankful for the support of the Shibes of the Dogecoin community… and all we can say is: WOW!”

The campaign was initiated by Eric Nakagawa, the co-founder of internet humor site ICanHasCheezburger and a member of the Dogecoin Foundation. Previous Dogecoin fundraisers have helped send the Jamaican bobsled team to the Sochi Olympics and funded service animals for children with disabilities.

“I’m really proud of the Dogecoin community for using the money they’ve made to change the lives of others instead of hoarding it,” said Dogecoin co-founder Jackson Palmer. “The first ever $10,000 tweet demonstrates the power of digital currency and social media to make the world a better place.”

About Charity Water

Diseases from unsafe water and lack of basic sanitation kill more people every year than all forms of violence, including war. Children are especially vulnerable, as their bodies aren’t strong enough to fight diarrhea, dysentery and other illnesses. charity:water is a non-profit organization bringing clean and safe drinking water to people in developing nations.

Find out more at: www.charitywater.org

About Dogecoin

Dogecoin is an online currency created as a light-hearted version of Bitcoin in December of 2013 by Jackson Palmer and Billy Markus. Much to their surprise the currency was quickly adopted by an incredibly passionate international community. Dogecoin is the second most popular online currency; only Bitcoin sees more transactions each day. Dogecoin is primarily used to buy and sell digital goods and to tip people on social media for the content they create. Tipping services like TipDoge on Twitter and Dogetipbot on Reddit allow social media users to seamlessly send digital cash to each other without fees or hassle.

Find out more at: dogecoin.com

dogs need all the help they can get. bravo to donater

So how is that nonsense bitcoin-related? Seriously, your scam is dead (http://trilema.com/2014/why-dogecoin-is-a-scam-why-the-people-pushing-it-are-assholes-why-business-insider-is-a-contemptible-piece-of-shit-why-anyone-who-ever-worked-for-it-will-be-dancing-in-the-street-for-nickels-and-wh/), move on.

they'll still have to convert it into cash > which will be a pain in the ass

hardly gonna cost 1 cent

doge is a scam

fk them

This isn't about Dogecoin though. This is about crypotcurrency in general and its efficiency.

Your vitriol blinds you to the issue here. This ISN'T about Dogecoin. Yes, yesterday's transaction involved Dogecoin, but the BIGGER picture, which your emotions make you blind to, is that this is about crypto in general. Because yesterday it was Dogecoin, but tomorrow it can be Bitcoin or any other crypto.  The point is: the speed and efficiency of cryptocurrency and the reduced cost of the transaction.

Why would conversion be a pain?  There are Doge/USD exchanges.

It's interesting to see that something good for ALL crypto is met with such hatred.

To some, ANYTHING related to DOGE is automatically evil. It's kinda like how a Klansman views a black man. 100% prejudice and 0% intelligence. Sadly the world of crypto is not entirely an enlightened one.


Ed

Like mentioned earlier....this has nothing to do with "Bitcoin Discussion".

Dogecoin is the biggest instamined scam coin , move this thread to the trashbin

I disagree. This is about cryptocurrency, NOT about Dogecoin. Please save your hatred.  Any crypto can be used to do a transaction like yesterday's. If the mainstream can understand that they don't need to pay bank fees for rapid transactions, Bitcoin would go to $10,000 overnight. It just takes something to get the attention of the masses and enlighten them as to the benefits of crypto/Bitcoin.

Instamined?

What!?  Nobody said I hated.  It just this is does not belong in this thread.  It is about an al currency and not Bitcoins.  Please move to appropriate section.

Then you can't see the bigger picture with what occurred yesterday.

Billions of coins were mined in the first few days , giving early miners huge rewards.

Fine...we wait to see if it mod moves it then......

I'm sure of a bunch of crypto coin will be really useful to the poor thirsty people of Kenya.  Can they pop to the shops to buy bottled water in doge?  Or pay for well construction workers? Or filtration systems?  What will the REAL cost of that transfer be after exchange fees, SEPA fees and currency conversion?

It will have 100 billion and then additional billions each year. A billion or a few billion in the early days is nothing compared to what the total supply will be. I was mining the first few days and I can assure you that I have no huge advantage.  The Diff rate was below 100 for a very short time.  

Correct me if I'm wrong, but that's the case with EVERY alt-coin. Early adopters are rewarded for taking on the risk of utilizing their hardware and electricity to take a risk on the coin.  

Satoshi has about 1,000,000 Bitcoins out of 21 million (which won't happen until a long time from now).  Satoshi has about 5% of all Bitcoins that will come into existence and about 10% of all Bitcoins in existence now.  How does that measure up to your instamine comment?

The coins will be converted to fiat and will pay to construct 2 wells in Kenya.

I think that your disdain for Dogecoin will prevent you from visiting the page below, but I placed it there in the event you'd actually like to find out the facts about the fundraiser.

http://doge4water.org/

LoL.  Moved to Alt-Cur.

It's okay.  Still successful in having over 500 people on the Dissussion Board see what Dogecoin did yesterday.

your point ? every knows dogecoin is a scam.

From /u/mikbob

It would have cost between 65,000 and 210,000 doge to send through Paypal. It takes 2-4 days to send through paypal compared with a few minutes on dogecoin.
This means that Dogecoin is 2000000% cheaper and 360000% faster than using PayPal. Now THATS what I call PR.

LoL. If you say so.

My guess is that you're definitely not a Dogecoin holder. More likely a Maxcoin guy.

lol ya ok I don't hodl shit coins. Keep buying Meme based clone coins with no hardcap .

Yes, I'm sure you don't hold "shit coins", because it's obvious that you're much smarter than anyone else here and hold only the best coins that you know will yield the most profit.

You should start an investment firm.

Lol...shit thread got bumped to the alt garbage can.....

Yes. I see this "shit thread" interested you enough that you followed it to the garbage can to comment.  Tells me that your hatred for Dogecoin is based on fear.  No reason to follow this thread here.

Most people don't know this, but, hey, hey.

Dogecoin was actually a joke. The people who use it are the ones who actually take it seriously. It wasn't even meant to take flight.

Can't believe people are still calling it a scam.

I don't know what concludes it to being a scam. It has a huge following and community, and it has tiny and fractional monetary value. Most coins out there have similar values. This coin just has a larger quantity and a bigger following.

he problem with all this generous charity work being done, is that when millions of coins are sent to these functions, the organizations have zero use for the coin itself. This means millions of coins are sent for charity, and the charity takes them and pounds down the market with the sum donated, in order to convert to fiat currency. These charity PR stunts are actually decreasing the possible value of doge for this reason.

LMAO.  Yup. Going right into my pocket. I ain't denying it. LoL.

Just an FYI, I have zero to do with the fund raiser, but don't let that stand in your way of casting aspersions. LoL

I wish folks were so skeptical last year when it came to MTGOX, but that's another story.

Any off. support for any altcoin is god for all altcoins.

which Kenyan bank actually allowed the cash out?
pretty sure they couldn't spend dodgycoin directly anywhere on the African continent

You haven't a clue about this fundraiser do you?

http://doge4water.org/

$10,000 tweet puts Dogecoin fundraiser for clean water in Kenya over $30k goal
Posted: 16 March 2014

March 17, 2014 – NEW YORK A $10,000 tweet sent the Doge4Water fundraising campaign over its $30,000 goal and set a new standard for the impact of 140 characters. An anonymous Dogecoin philanthropist used twitter to tip 14 million Dogecoin, worth more than $11,000. The surprise tweet sent shockwaves through the Dogecoin reddit community, which had already made more than 4,000 donations totalling 26 million Dogecoin (equivalent to more than $20,000). The Doge4Water campaign benefits charity:water in celebration of World Water Day on March 22nd.


“This was one of the more inventive campaigns we’ve seen,” said Paul Young, Director of Digital for charity:water. “The Doge4Water campaign started with a tweet, harnessed the powerful Reddit community passionate about Dogecoin, and then hit its aggressive goal with a tweet that triggered a donation of Dogecoin worth over $10,000. 100% of the funds raised by the Dogecoin community, once converted into US dollars, will be used to bring clean water to people in need in Kenya through our local partner Action Against Hunger. We’re thankful for the support of the Shibes of the Dogecoin community… and all we can say is: WOW!”

The campaign was initiated by Eric Nakagawa, the co-founder of internet humor site ICanHasCheezburger and a member of the Dogecoin Foundation. Previous Dogecoin fundraisers have helped send the Jamaican bobsled team to the Sochi Olympics and funded service animals for children with disabilities.

“I’m really proud of the Dogecoin community for using the money they’ve made to change the lives of others instead of hoarding it,” said Dogecoin co-founder Jackson Palmer. “The first ever $10,000 tweet demonstrates the power of digital currency and social media to make the world a better place.”

About Charity Water

Diseases from unsafe water and lack of basic sanitation kill more people every year than all forms of violence, including war. Children are especially vulnerable, as their bodies aren’t strong enough to fight diarrhea, dysentery and other illnesses. charity:water is a non-profit organization bringing clean and safe drinking water to people in developing nations.

Find out more at: www.charitywater.org

About Dogecoin

Dogecoin is an online currency created as a light-hearted version of Bitcoin in December of 2013 by Jackson Palmer and Billy Markus. Much to their surprise the currency was quickly adopted by an incredibly passionate international community. Dogecoin is the second most popular online currency; only Bitcoin sees more transactions each day. Dogecoin is primarily used to buy and sell digital goods and to tip people on social media for the content they create. Tipping services like TipDoge on Twitter and Dogetipbot on Reddit allow social media users to seamlessly send digital cash to each other without fees or hassle.

Find out more at: dogecoin.com

Huh? It takes all of one second to "convert to cash" They already did it. Probably cost 4 cents.

Not sure where you get your information from, but it's wrong and angry.

A "scam" with a track record of doing good?
So much WOW from one community.   :P

4 cents?

Why don`t you tell us what the spread is between usd-doge and doge-usd? The exchanges used to buy and sell the Doge are taking a significant cut, you can be sure.

By spread, I mean difference between the buy price and the sell price.

So if you buy Doge at $4/5000 then donate it, and the receiver cashes out at $3.60/5000 - guess what, 10% has been gobbled up by the exchanges.

hole community doges scam me Zzzack one day. Many shibes bark and took all my coins from computer with shibe virus

If you encrypted your wallet then they cannot steal any coins.
Very sorry about your loss...

http://www.forbes.com/sites/matthickey/2014/03/17/such-generosity-most-expensive-tweet-ever-sends-11000-to-kenyan-water-charity-via-dogecoin/

Such Generosity: Most Expensive Tweet Ever Sends $11,000 To Kenyan Water Charity Via Dogecoin
Comment Now Follow Comments
Dogecoin – Bitcoin’s goofy little brother – has just made history. A member of the Dogecoin community donated 14 million Dogecoins (worth about US$11,000 on the exchanges) to a charity with one single message on Twitter. That tweet, to an automated Twitter-bot, is the most money ever donated or sent directly via a tweet.


The Dogecoins were for Doge4Water, a charity set up to help people in Kenya get clean drinking water. The Dogecoins will be converted to real money, and that money will be used to build new wells. The tweet, by an anonymous person who goes by @savethemhood, helped to push the Doge4Water to well past its 40 million Dogecoin (US$30,000) goal. The charity had hoped to reach it by March 22nd, which is World Water Day, and it met that target with a week to spare.

This isn’t the first time the Dogecoin community showed its charitable nature. Last month it raised enough money to help get the broke Jamaican Bobsled Team (yes, that one) to the Sochi Winter Olympics. The generosity makes sense, as Dogecoin is positioned to be the “tipping currency” of the Internet.

For a crypto-currency that was started as something of a joke, Dogecoin is doing some good, and part of that is through the sheer number of Dogecoin users. By volume, it’s the most-traded crypto-currency in the world. Part of that is because it’s so easy and cheap to get into. A person can buy-in for as little as a dollar (US$1 is worth about 1300 Dogecoins at the time this post went live), and the tipping culture is rife within the community. For example, on the Dogecoin sub-reddit, users are encouraged to tip one another small amounts of Dogecoin for insightful or positive comments along with “upvotes” (the quasi-currency of Reddit).


The Dogecoin community has the aim of expanding that “tipping” culture to the rest of the internet by keeping the price of Dogecoin artificially low. Unlike Bitcoin, Dogecoin is not meant to be an investment currency, so much of the shiftiness that Bitcoin users have had to endure likely won’t make its way to the Dogecoin world (though that’s not to say it’s immune).

Still, there’s always going to be some controversy with crypto-currencies, and besides being used as a force for good for bobsledders and Kenyan villagers, Dogecoin, with its catch phrases, such as “wow” and “such currency” and “so crypto”, could be a great way to explore what these new virtual currencies can and can’t do, all while maintaining a sense of humor.