[omni_]

Why is this being upvoted on HN? New crapcoins are introduced daily that offer nothing new and instead follow this formula:

1) Fork Bitcoin or Litecoin repo

2) Come up with cleaver name. In this case, an exhausted meme that some will be amused by

3) Do mass renames in fork

4) Make a logo and website

5) Post to internet and make eBay auctions for coin, call it "THE NEXT BITCOIN!!!"

[Joeboy]

I think perhaps this one differs in that it is a deliberate reductio ad absurdum version of the others.

[FatalLogic]

Indeed. It's a commentary on the "me to" nature of the cryptocurrency scene. Anybody can clone bitcoin-qt and change the strings to "MyCoin" or "GiveMeBucksPls". BBQCoin is in the same vein.

What's absurd is that these meta-joke coins can still speedily acquire value. The price of Dogecoin has doubled or tripled in the last 2 days on this exchange (volume is tiny) https://coinedup.com/OrderBook?market=DOGE&base=BTC

Is it still a joke then? Yes, but some people clearly don't think so. If you extrapolated the final market capitalization from the current price, it would already have reached over $10m

     wow
 
          such lol