Dogecoin: A Joke With Real World Energy Consequences

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The comments from Billy Markus, one of the people who helped create Dogecoin in the first place, when it was intended partly as a joke, came in response to a tweet from Elon Musk. Musk had been attempting to clarify his position on cryptocurrency generally, in the wake of his statement about Tesla.


Comments On Dogecoin’s Energy Usage

“To be clear, I strongly believe in crypto, but it can’t drive a massive increase in fossil fuel use, especially coal,” Musk had written.

In response, Markus sent a crying face emoji, which he later clarified he had meant to indicate “aw man, you right, environment stuff”.

In reply to that, Mr Markus was asked whether he had considered energy usage when creating Dogecoin.

“I made doge in like 2 hours i didn’t consider anything,” he wrote.

Though Musk’s tweet of assisting Dogecoin saw the crypto rise by nearly 45% yesterday, DOGE value has dipped again as Markus’ tweet saw him poking fun at the expense of Musk. His tweet has further made it clear that the crypto was started as a joke to make fun at the expense of other cryptocurrencies.

For a project that has not had any development for the last 4 years and which was not built keeping energy sustainability or key features in mind, pushing it to become a legitimate currency will require an immense amount of resources that could have been utilized for the development of other more promising crypto projects. It’s clear at this point that Musk’s involvement with Doge is either to push up its prices or to just have fun; making Doge extremely susceptible to losses.

About Peter M. Jensen

Peter M. Jensen has been our Chief Executive Officer since 2020. Mr. Jensen is an experienced IT executive with extensive global experience within enterprise software. From 2019 to2020 he was chief executive officer of Spanugo, a provider of security assurance applications, which was sold to IBM. From 2016 to2017 he was chief executive officer of Presidiohealth, a provider of software and services to health care providers to manage the patient experience. From 2014 to 2016 he was chief executive officer of ParStream, which created the first analytics database for the Internet of Things (IoT); this company was acquired by CISCO in 2016. From 2011 to 2014 he was chief executive officer, a provider of website security and privacy services. Previously, he held sales and marketing positions with several other technology companies including Symantec, Oracle and VMWare. Mr. Jensen holds an MBA from the Copenhagen Business School.