Dogecoin, the Crypto Launched as a Joke, May Have the Last Laugh

Dogecoin, the Crypto Launched as a Joke, May Have the Last Laugh

Bitcoin may receive indirect support from an unlikely source—Dogecoin.Seeking Alpha, a crowd-sourced content service for financial markets, offers an intriguing view of Dogecoin, the parody cryptocurrency launched in 2013, and its relevance to Bitcoin."Every buyer of Dogecoin is (perhaps unwittingly) making a statement about the legitimacy of the Bretton Woods world order," the company said. "The zoomer generation is having a good laugh while exploring the intersection of central banking and technological disruption."In July 1944, delegates from 44 nations met at Bretton Woods, New Hampshire and pegged the value of the U.S. dollar to gold.Glauber Contessoto, or Jaysn Prolifiq, is bullish about the future of Dogecoin.

Glauber Contessoto Jaysn Prolifiq

Delegates sought to create a foreign exchange system that would promote growth and preclude currency devaluation to gain a competitive edge. The agreement also stabilized the value of other currencies pegged to the greenback.In August 1971, President Richard Nixon said the dollar could no longer be exchanged for gold. This effectively killed the Bretton Woods agreement.The decision led to the fiat dollar, derided as critics as essentially worthless and accepted only because others believe it represents value. Bitcoin proponents say the cryptocurrency operates outside the world's banking system and therefore has the