Reddit CEO Yishan Wong says Dogecoin has a “worthy goal” that gives it a much more attractive culture than Bitcoin, whose userbase “is basically crazy libertarians”.
Wong made the comments on a post to Quora.com, a question and answer site. Beginning his post with the simple phrase “Dogecoin is great”, Wong continues to criticize the culture of Bitcoin, which he believes has gone increasingly on the fringe as its userbase has grown.
Speaking on Bitcoin’s fans, Wong says “at one time it was fairly well-informed libertarians but as the currency has become mainstream, it’s attracted more poorly-informed individuals and the conversation have [sic] become more polarized and less knowledge-based, driving the well-informed and balanced people away, or at least prompting them to recede into the background.”
While attracting growing attention and greater headlines, Bitcoin has also attracted greater criticism. Legendary value investor Warren Buffett dismissed bitcoin as a “mirage”, telling investors to stay away from the crypto-currency (which Buffett doesn’t even consider to be a real currency).
Mainstream interest and skepticism on crypto-currencies has grown in recent months as Bitcoin has made more headlines. After the well-publicized failure of Bitcoin exchange Mt. Gox, which declared bankruptcy and admitted to losing hundreds of millions of dollars of vanished Bitcoins, the digital currency has fallen in value. However, supporters of the currency are quick to point out that its value remains substantially higher than it was a year ago.
Dogecoin has also declined in value over the past month and a half, but remains more valuable than when it debuted in December 2013.
You can read Wong’s full post here.