DOGECOIN: THE 2 HOUR “JOKE” THAT MADE LOW-INCOME INVESTORS MILLIONS

Billy Markus, a co-creator of Dogecoin, has stated that he did not understand the cryptocurrency's environmental effects when developing it. Dogecoin, which began as a joke nearly eight years ago, has since developed into a household name. This is partially due to the Shiba Inu-based meme currency's own success, but the digital coin also gained a lot of traction after celebrity endorsements from people like Tesla CEO Elon Musk and rapper Meek Mill. Musk reiterated his belief in "crypto" in a tweet, adding that "it can't drive a huge increase in fossil fuel usage, particularly coal."

Tesla had suspended vehicle purchases using Bitcoin (price in India), the world's oldest and largest cryptocurrency, in which the leading electric car maker had invested $1.5 billion (roughly Rs. 10,990 crores) earlier this year. The company went on to say that while cryptocurrency is a good concept on several ways and has a bright future, it cannot come at the expense of the climate.

Markus, who goes by the Twitter handle Shibetoshi Nakamoto, responded to the tweet with a "loudly weeping face" emoji at first. When the tweet gained momentum, the Dogecoin co-founder (price in India) clarified that his answer implied: "aw guy, you right, environment stuff." User @TerrysFishyTips asked Markus if he considered energy consumption while making the digital currency in the first tweet. "Isn't that something you've considered? How can the developer community improve the efficiency of Doge? "the consumer inquired further.

Markus responded by saying he developed Dogecoin in "like two hours and didn't think about it."

Musk, who has previously referred to himself as "Dogefather," tweeted later in the day that he was working with Dogecoin developers to boost device transaction performance. As of the writing of this article,

The price of Dogecoin was $0.53. (roughly Rs 39). Last week, the SpaceX CEO appeared on Saturday Night Live, a sketch comedy broadcast, and said the Dogecoin was a "hustle." Following Musk's comments, the digital currency, which had soared in value in recent months alongside Bitcoin and Ether (price in India), plummeted by more than a third of its value.