The co-founder of dogecoin has stirred up reactions on Twitter with a post that says “under the hood, it’s pretty much the same tech” depicting Dogecoin and Bitcoin are the same.
Billy Markus, the cofounder of Dogecoin, has posted a meme on Twitter claiming that Bitcoin and the meme cryptocurrency DOGE are essentially the same technology.
Dogecoin and Bitcoin comparison
The proof-of-work consensus technique is used by both coins. Dogecoin was founded in 2013 as a spoof of Bitcoin (forked from Litecoin) and was inspired by Shiba Inu dog memes.
Unlike Bitcoin, which has a maximum quantity of 21 million coins (over 18 million are currently in circulation), Dogecoin has no such restriction.
The restriction of 100 billion coins did exist at first, however, it was swiftly exceeded by the middle of 2015. Every year since then, an additional 5 billion coins have been added to the circulating supply. There are 132,670,764,300 DOGE in circulation right now.
Many freshly converted Wall Street investors (including Mike Novogratz, Anthony Scaramucci, Robert Kiyosaki, and others) currently believe Bitcoin is a digital analogue of gold, a new and more trustworthy safe haven than gold.
Elon Musk loves Dogecoin
Dogecoin is still widely regarded as a joke by many. DOGE, on the other hand, has Elon Musk as a supporter, who has been known to influence the price of the cryptocurrency with his tweets in the past.
Despite the fact that Bitcoin was created as a peer-to-peer currency independent of governments and banks, Musk feels Dogecoin is significantly more suited for payments than Bitcoin.
Tesla began selling some of its merchandise for Dogecoin in December as an experiment to see “how it goes.” He also pushed McDonald’s to begin taking it, but the multinational fast food corporation declined. However, King Burger and MrBeast Burger, two of its competitors, appear to be interested in embracing Doge.
