Elon Musk Plays Along With Dogecoin Joke, Declares Himself CEO

April Fools’ Day lasted longer than usual this year, as Dogecoin managed to spin a one-off joke into a real endorsement from Elon Musk. It all started on Monday when Dogecoin ran a joke election that asked its users to choose which high-profile figure they wanted to elect as Dogecoin’s new CEO.

The supposed candidates included Ethereum creator Vitalik Buterin, Litecoin creator Charlie Lee, and MetalPay CEO Marshall Hayner. However, Elon Musk of Tesla and SpaceX fame won by a landslide. 54% of users voted for Musk as CEO, and Musk himself decided to play along with the joke.

CEO For a Day

Musk acknowledged the April Fools’ Day joke by changing his Twitter profile to read “CEO of Dogecoin,” and, later, “former CEO of Dogecoin.” None of this is true—Dogecoin has neither a CEO nor a company behind it—but Musk’s enthusiasm for the coin seems to be real. He even tweeted “dogecoin rulz” and stated that Dogecoin is his “fav cryptocurrency.”

In fact, Musk has been aware of Dogecoin for some time now. Last year, he asked Dogecoin’s creator to help him fight scammers on Twitter. Musk has also made it clear that he is a fan of other cryptocurrencies, as he called Bitcoin “better than paper money” in February. Musk’s activity this week may be a joke, but his enthusiasm seems to be genuine.

According to Bitcoinist, the humorous affair actually had a real effect on Dogecoin’s market value. Apparently, the price of DOGE rose by 30% over a 24-hour period. This means that Musk may have drawn significant attention to Dogecoin and prompted trading activity. However, other events, such as Dogecoin’s addition to Huobi, may have also affected the price.

Dogecoin’s Real Developers

Dogecoin isn’t about to get a CEO, but the owners of the Dogecoin Twitter account have made sure to give credit where it is due by retweeting an old comment from a Dogecoin developer. That tweet lists the various developers who make Dogecoin possible:

The Dogecoin Core Developers. @dogecoin_devs on twitter /r/dogecoindev on reddit #dogecoin-dev freenode IRC. Team consists of @langer_hans @JRossNicoll @michilumin @MSingularity and Patrick Lodder (not on twitter). We’ve been responsible and doing everything since April 8, 2014.

— MovableSingularity (@MSingularity) October 16, 2018

The work of those developers has formed a basis for notable projects, such as Dogethereum. It has also attracted projects like Blockchair, which helped fix a minor Dogecoin bug in February. Five years in, Dogecoin is receiving serious attention from developers—though the community still enjoys a joke now and then.

Published at Fri, 05 Apr 2019 18:04:30 +0000

March 27, 2017

You Might Be Exchanging Bitcoin With Trading Bots and Not Even Know It

Cryptocurrency trading isn’t easy, but there are many people who have honed the art of trading bitcoins and altcoins on a daily basis. Interestingly enough, most people don’t realize that many cryptocurrency traders use trading bots to execute trades faster and more efficiently, and sometimes even in their sleep.

Also read: An Introduction to bitcoin Trading and Technical Charts

Cryptocurrency Algorithmic Trading Bots

Lots of bitcoin traders use trading bots to perform quicker trades than humans can naturally process by themselves. Trading bots became popularized in the cryptocurrency environment years ago, with the infamous Mt. Gox “Willy & Markus” bots back in 2013. These alleged bots were accused of pushing the price of bitcoin up faster than a natural bull run. However, bots are not necessarily bad tools and they have been used in computational trading since the seventies. They are called bots because the programs execute trades like humans do, but they do it autonomously and can operate continuously without having to rest.

Trading bots or algorithmic trading is a technique that uses pre-programmed software that analyzes market actions, such as time, price, orders, and volume. Bots or program trading is used within many global stock exchanges and is a legal practice for the most part. bitcoin trading bots are said to establish more efficient trading and can be utilized on many well-known cryptocurrency exchanges today. There are bots that are free of charge and can be downloaded online. Some people have also designed their own bitcoin trading bot software. Then, there are trading bot services you have to pay for, offered by various trading engine and programming companies.

Subscription Bot Services

Haasbot

The Haasbot algorithmic trading software, created by Haasonline, trades bitcoin and over 500 altcoins on many popular exchanges. This includes fully automated trades on platforms such as GDAX, Poloniex, Bitfinex, Kraken, Huobi, BTCC, Gemini and much more. Haasonline details the bot is customizable and enables a variety of technical indicator tools.

“Our bitcoin bot utilizes industry leading indicators such as StochRSI, MACD-Histogram, PPO, Ultimate Oscillator, Ulcer Index, Regression Slope Cross, and more,” explains Haasonline.

BTC Robot

BTC Robot considers itself the world’s first electronic cryptocurrency robot. The trading robot offers multiple plans for different types of software and membership. The cheapest robot plan is US$149 for the silver software, which gives traders a downloadable version for various Windows operating systems. Mac users have to pay a touch more. The company notes that its algorithmic trading does not predict markets perfectly, and there will always be losing and winning trades. It further added that:

100% winning systems are impossible, so don’t be fooled by so called “get rich scams” promising such impossible results.

Cryptotrader

Cryptotrader is a cloud-based automated bitcoin trading bot that claims to allow users to build algorithmic trading programs in minutes. The company also offers a “Strategy Marketplace” where users can purchase and sell trading strategies. Cryptotrader says that it is supported by most of the popular exchanges such as Coinbase, BTCe, Bitstamp, and more. The business states that its automated trading bots in are unique compared to the current bots on the market today.

Trade While You Sleep

Bot trading may not be for everyone as the software can be difficult for inexperienced traders to understand. Furthermore, traders have to trust in the efficiency and reliability of companies or the free software that offers algorithmic cryptocurrency trading. There are many different businesses online offering bot services, and some of them may not be legitimate. Alongside this, free trading bot programs can be found on sites like Sourceforge, but people should research diligently before trusting any free software. However, reputable and functioning trading bots may increase trade profits, if used correctly.

What do you think about trading bots? Let us know in the comments below.

Images via Pixabay, Haasbot, BTC Robot, Cryptotrader websites.

Why not keep track of the price with one of bitcoin.com’s widget services.

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