The main focus of the coin coupled with the massively increasing currency base spelled doom from the start. The demise of Dogecoin unfortunately was the spirit of the coin, scrypt mining and social media pumping the price.
Dogecoin value peaked at $81 million USD in February 2014 when the Dogecoin community started raising funds for the Jamaican Bobsled team to go to the Olympics.
In March a twitter Dogecoin donation was made in the amount of $11,000 USD to a charity raising funds for clean water. This made headlines worldwide, halting the slide in value temporarily.
Later in March 2014, the Dogecoin community sponsored a Nascar driver at Talladega speedway. This was the last real positive publicity for the coin, as the price decline continued.
Currently the Dogecoin market cap is $11 Million USD, but with almost no exchange volume supporting the price.
Dogecoin provided one of the quickest lessons in economics available. Currency can not have a infinite supply and maintain prices. If the USD can not do it, a meme based altcoin definitely will not be able to.
In the end currency is not meant to be fair, it is meant to be difficult to obtain. When it is no longer special or unique suddenly no one is willing to expend energy obtaining it.
Goodbye Dogecoin, the story was short and painful to watch.
Popular BTC-e Bitcoin exchange steps up security against hacking.
BTC-e is responding to the ever increasing threat of hacking in Bitcoin by adding 3 new security measures, available to customers immediately.
Hacking attempts are prevalent in Bitcoin, making security upgrades of paramount importance. Earlier this week cannabis road, a Silkroad replacement, was hacked for over $100,000 USD worth of Bitcoin. How the attack was accomplished is still unknown.
Dear BTC-e Customers!
We’ve updated the Security section of the Profile. 3 new features were added:
1. White list of IP addresses
Now you can allow access to your account only from IPs / IP ranges specified by you. Please note that these settings will be applied after your next login. All previous open sessions will still have access to your account.
2. The list of most recent logins to the account
You can see the list of 30 most recent login attempts to your account on this page. The following login attempts are considered unsuccessful: wrong password or one-time password, login from the IP not stated in the White list.
3. Open account sessions
On this page you can check open sessions on your account and close them if necessary.
When properly used, these features will improve the security of your account and assets.