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Market Instability and Community Conflicts Pose Threats to Dogecoin Gambling

Chris in Uncategorized published on 25, June 2014

Dogecoin in Trouble?

The past few days were not favorable for Dogecoin as recent dealings within and beyond its community continue to spell trouble for the altcoin and its gambling market.

Known for its proactive and supportive community, Dogecoin are plagued by unfortunate events that hint that it may have already reached its peak and is heading downwards already while Bitcoin, Litecoin, and other top cryptocurrencies still enjoy market stability.

Some reports attribute the continuous fall of the Shiba Inu-laden coin to the emergence of new and potentially better alternative cryptocurrencies in the market, specifically Darkcoin and Nxt, which both have exceeded the Dogecoin market cap.

With its market value showing instability, Dogecoin has already raised concern within its community, especially those users who run businesses that are powered by the cryptocoin.

However, the community itself is faced with its own problem as Dogecoin creator Jackson Palmer has unsubscribed from the Dogecoin subreddit, expressing his intention to leave his post and have someone else lead the troubled community.

In an argument with Moolah.io creator Alex Green over the issue of UltraPRO’s efforts to trademark the term ‘Doge’, Palmer publicly said that he is in fact “unsubshibing…from this sadly cult-like subreddit.”

“Given that I just can’t be bothered dealing with the massive amounts of hate you’ve somehow had directed at me though, in the past 24 hours, I’m going to step back and let you run this community here on Reddit from now on, which you obviously own,” he said after Green persuaded the community to take action in line with Jackson’s alleged lack of concern over the UltraPRO matter.

Palmer, however, previously released UltraPRO’s stand on the issue, with its general manager, Jay Kuo, clearing that the company will not go after existing vendors bearing Doge on their name.

Meanwhile, with Canada’s signing Bill C-31 into law, the popular Dogecoin gambling site Doge-Dice left the online betting scene, which had further put the cryptocoin and its community at a loss of what tomorrow has in store for them.

Despite the latest happenings involving this cryptocurrency, the number of Dogecoin-only sites and even Bitcoin gambling platforms accepting dogecoins has recently ballooned in the industry. It is yet to be seen, however, the intensity of the effect of its mishaps on the digital currency gambling market.

 

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