Dogecoin hits another low as merged mining debate gets heated

Dogecoin today hit another low of 37 satoshi (=$0.00023). This is the coin's lowest traded price since prior to its January run-up.

A key point of support has thus been broken. Since it peaked near 300 satoshi in mid-February, the coin has been stuck in a near-constant trajectory of decline. The coin is now not too far off from all-time lows set shortly after it was launched.

Indeed, the coin's future is at stake- at least according to Litecoin founder Charles Lee. In a recent post, he argued that Dogecoin's low Hash Rate Hash Rate A hash rate is the measure of a cryptocurrency miner’s performance and a key security metric. In the context of mining, the more hashing or computing power in a given network, the greater its security and its overall resistance to attackMining hashrate is a key security metric. The more hashing (computing) power in the network, the greater its security and its overall resistance to attack. Hash rate is also a measurement of the output of a device that is used to add transactions to a blockchain A hash rate is the measure of a cryptocurrency miner’s performance and a key security metric. In the context of mining, the more hashing or computing power in a given network, the greater its security and its overall resistance to attackMining hashrate is a key security metric. The more hashing (computing) power in the network, the greater its security and its overall resistance to attack. Hash rate is also a measurement of the output of a device that is used to add transactions to a blockchain Read this Term places it in jeopardy, as it would take only a few combined Litecoin mining pools to mount a 51% attack. He proposes merged mining with Litecoin, which itself has faced a recent identity crisis in terms of its own mining.

Some staunch Shibe enthusiasts barked back, unmoved by Lee's proposal and upset over what they perceived as an attack on their coin. In a follow-up post, Lee sought to reassure that he has Dogecoin's best interests in mind, "Maybe it's because if Litecoin is my child, Dogecoin is my grandchild (or is it my child's dog?)". He also owns a moderate amount of Dogecoin.

Dogecoin now has a market cap of $20 million, ranking it 7th among all Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term, 5th among those mineable.