BEWARE OF THE DOGECOIN: Early Miner Warns Against The Altcoin

Keneci Channel

Robert Ballecer a Roman catholic Jesuit priest and left-wing technology podcaster at TWiT said he is among the original miners in the altcoin network.

During a discussion of the recent cryptocurrency bull market, on the show 'This Week In Tech' Sunday, Ballecer said that SpaceX CEO Elon Musk was just showing his "malicious side" and trolling by pushing Dogecoin on social media. Musk recently tweeted support for Dogecoin.

Ballecer said dogecoin was created by enthusiasts because it was too difficult to mine bitcoin. "It was created for and by people like me who wanted to do something fun," he said. "We used it on TWiT to teach people how blockchain worked."

The left-wing podcaster while generally sceptical of cryptocurrencies, however noted the absurd inflationary difference between bitcoin and dogecoin. "Whereas there's a super limited number of bitcoins, there's almost infinite number of dogecoins that you can mine. We never expected it to be worth anything."

The so called Bitcoin maximalists have cited this limited number of bitcoins(21 million) as an indication of stability, durable store of value and a guard against inflation and central governments' fiat manipulation.

Dogecoin was invented December 2013, by software engineers Billy Markus and Jackson Palmer.

WATCH clip of Robert Ballecer's comments.