In 2013, Billy Markus teamed up with Adobe software engineer Jackson Palmer to launch the Dogecoin cryptocurrency. Markus left the company in 2015, but after the combined forces of Elon Musk, Twitter, and Reddit caused the market value of Dogecoin to skyrocket 1500% in January, he was back in the limelight with a bang … and he’s not happy about it at all. Learn more by looking at 10 Things You Didn’t Know About Billy Markus.
1. He never had a master plan
When Markus founded Dogecoin, he didn’t have a master plan. It all started in 2013 when Adobe software engineer Jackson Palmer became aware of the growing number of altcoins like Magacoin, AnonCoin, and BBQCoin emerging to rival Bitcoin’s dominance. After Palmer jokingly tweeted that he was “investing in Dogecoin, pretty sure it’s the next big thing,” several of his friends encouraged him to do it for real. So he set out to do just that. After purchasing ‘Dogecoin.com’, Palmer affixed the logo to a coin and affixed it. That’s where it would have ended up, but Markus, who was working as a software engineer for IBM at the time, stumbled upon the site. “I was playing with a coin that I had already made called ‘Bells’, based on Nintendo’s Animal Crossing, which was not particularly successful,” he recalls ever since. “I was playing around with it and figuring out how to change all fonts to Comic Sans MS, then I thought, ‘well this could be fun.’ So I had a mockup of the client with Palmer’s image of Dogecoin, and I just wanted to show that I was not a newbie and that I could actually make coins… This was not some weird master plan we had.
2. I wanted to reach a broader demographic than Bitcoin
When Markus and Palmer created Dogecoin, they didn’t have a master plan. But they intended, intended to create a peer-to-peer digital currency that could reach a much broader demographic than Bitcoin was capable of. As Wikipedia explains, they were also determined to get away from the controversial history of other virtual currencies. Dogecoin was officially launched on December 6, 2013. It was an immediate sensation. In the first 30 days alone, Dogecoin.com had received more than a million visits.
3. The rapid success of Dogecoin put it in a setback
Within 2 weeks of launch, Dogecoin had risen nearly 300 percent in value. Its success took its creators by surprise … much to their detriment. As Markus later explained to Vice, the rapid rise in popularity of the coin put it on a roll. As the first people on the Dogecoin network, you should have followed that its creators got most of the Doges. However, Dogecoin gained popularity so quickly that neither Markus nor Palmer were able to collect a significant stash.
4. He attributes the success of Dogecoin to its accessibility.
Dogecoin’s meteoric success may have taken Markus by surprise, but it didn’t take him long to put two and two together and discover the reason for its rapid rise in popularity. Markus had always hoped that Dogecoin would reach a broader demographic than Bitcoin, and it turned out that it was the coin’s meme-based accessibility that helped him do just that. “In hindsight, it was obvious that cryptocurrency was ready for something that was more accessible, and a meme is obviously really accessible,” explained Markus. “Everyone recognizes the bulldog meme. It is based on a dog and everyone loves dogs. It was a perfect storm. “
5. He is a great believer in charitable causes.
From the beginning, Markus and Palmer worked to distinguish Dogecoin from the legions of other virtual currencies that existed at the time. One of the ways they did this was by aligning themselves with noble causes. One of the first fundraisers they organized was in January 2014, when they and the Dogecoin community raised $ 50,000 to help send the Jamaican bobsled team to the Sochi Winter Olympics. Soon after, they raised $ 30,000 to build a well in Kenya together with Charity: Water.
6. I wanted to change the way cryptocurrencies worked
Markus may not have had a master plan in mind when he created Dogecoin, but after learning more about virtual currencies, he began to foster hope that it would be possible to create a currency that, when mined, could do something useful and global. change than just wasting electricity. “I think what everyone wants is a coin where the mining process is really useful,” he explained to Vice.
7. He sold all his Dogecoins in 2015
In 2015, just two years after launching …