In response to a general question asked by a product designer on which one is preferable, “ One Dogecoin or One Bitcoin,” Dogecoin (DOGE) co-creator Billy Markus said he would prefer to have one Bitcoin.
Markus, known online as “Shibetoshi Nakamoto,” helped start Dogecoin in 2013 as part of a counterculture internet phenomenon, taking potshots at the then cryptocurrency craze. Though made as a parody, Dogecoin has since grown a large fan community and infiltrated the top 10 cryptocurrencies list by total value.
However, Markus’s choice of Bitcoin makes sense given how much more valuable it is compared to Dogecoin. At current prices, one Bitcoin is worth over 500,000 Dogecoins. Bitcoin’s original creation and reputation as “digital gold” has made it the leading cryptocurrency.
Yet, Dogecoin has its own benefits that Bitcoin doesn’t have. Dogecoin transactions are faster and cost less fees, making the coin better for smaller, everyday payments. Its unlimited supply of 5 billion new coins per year means people are encouraged to use and spend Dogecoin instead of holding it.
Furthermore, Dogecoin’s fun, meme-centric branding has given it family-like cultural popularity. From sponsored NASCAR drivers in 2021 to raising millions for charity, the “Doge Army” has shown the power of an internet joke turned real.
While Markus may personally value Bitcoin’s high price more, his creation, Dogecoin, continues to make its own way. Additionally, there is enough space for both cryptocurrencies.
Also Read: Bitcoin is the “Godzilla” to Destroy Old Financial Models – Michael Saylor
