I want to remind you in this article what interesting coins have been created over the years!
The first popular altcoins (cryptocurrencies that appeared after Bitcoin) were NMC and LTS in 2011. Their developers strictly adhered to the philosophy of utility and sought to overcome a number of problems inherent in the Bitcoin blockchain. For example, Litecoin has four times faster transaction processing speed, and Namecoin is not only a cryptocurrency, but also a distributed peer-to-peer domain name network (DNS).
So, let’s discuss 5 strange and controversial cryptocurrencies.
Dogecoin was a symbiosis of a cryptocurrency joke and the Internet meme “Doge,” a shiba-inu dog named Kabosu. Today it is a top-ten cryptocurrency, outperforming hundreds of “useful” projects. The funny cryptocurrency was invented by Adobe engineer Jackson Palmer, and the idea was supported by Billy Markus, who worked at IBM at the time. It was a non-profit project, and its only purpose was to make fun of bitcoin and altcoin supporters. To show them that even popular cryptocurrencies are worthless in their content and not worth much attention. However, the joke is so successful that by October 2021, DOGE is the 8th most expensive cryptocurrency in the world with a capitalization of more than $30 billion.
2.Monacoin and Nyancoin
Kitties! Who’s to say that the cats flooding social networks is not a reason to create a full-fledged cryptocurrency? If there is a place for Kabosu’s Shiba Inu, there is also a place in the sun for cat lovers and Monet’s cat meme.
The developers stated that their projects take cryptocurrency out of seriousness and their goal is to become a “fun” version of Bitcoin. The most popular cryptocurrencies associated with cats are Monacoin and Nyancoin. “Cat” cryptocurrencies are exchanged internally for “cryptocurrencies” in gratitude for messages and useful information, used as game currency, and to help charities and conservation organizations protect cats and other animals. As with Dogecoin, the game strategy of promoting information about the new cryptocurrency has been successful and has led to the creation of an entire industry around the projects. For example, souvenirs, badges and collectible NFTs are being released for sale. Achieved results: MONA - coin rating 410, price $1.47, capitalization $154.2 million NYAN - coin rating 3288, price $0.0899, no capitalization data on CoinMarketCap. The coin quietly died.
The first mention of cannabis cryptocurrency appeared in the media in early 2014 amid the legalization of cannabis use in several US states. The digital currency was intended to circulate in the legal marijuana market. It came as a shock to the puritan part of the U.S. society, but the initial excitement quickly passed, and the coin was long forgotten. PotCoin was created in coordination with the state authorities (at least, the developers said so) as a part of the decentralized banking infrastructure for the market of legal marijuana only. It supposedly allows you to buy and sell legal marijuana anonymously and safely, without fear of being scammed by your contractors or being mistakenly arrested by the police as a drug dealer or addict.
The world’s first kosher cryptocurrency, BitCoen, was created in 2017 by "the Jewish community for Jews. Agree, giving a crypto-asset a religious charm and Talmudic correctness is a strong marketing move for a target audience of nearly 25 million people. Angry tongues have asked if BitCoen’s blockchain works on the Sabbath. In 2018, the project’s website remarked that the Turkish and Russian communities were included in the ecosystem at the request of the project’s first followers, and now, in 2021, the project is open to everyone. The platform has its own payment system, loyalty program, marketplace and advertising platform. Members can receive interest-free credit and make domestic transfers between countries.
The release of its own cryptocurrency is a “remarkable” marketing move for a company with a 140-year history that has survived bankruptcy proceedings and the loss of patents that made Kodak a unique player in the imaging market. In January 2018, Eastman Kodak Company revealed that it was on trend with trendy developments and planned to enter the cryptocurrency market. Kodak announced its own cryptocurrency KodakCoin, after which the company’s quotes jumped almost twofold on the New York Stock Exchange. KodakCoin was designed for professional photographers, for which it was to become a kind of a register of ownership rights for photographic works. It was planned to pay remuneration for the sale of photographic works and receive royalties from agencies. However, the project didn’t find a client, failed, and was closed.
Friends, rate on a 5 point scale, which coin is the most cringe-worthy for you?