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An $80 billion cryptocurrency was coded in a few hours as a joke and the creator sold all his coins for a used Honda Civic
In 2013, Jackson Palmer, who worked at Adobe in Sydney, tweeted "Investing in Dogecoin, pretty sure it's the next big thing" as a joke and bought the domain.
Billy Markus, a software engineer at IBM in Portland, saw it and messaged him.
He coded the whole thing in a few hours.
Used Comic Sans for the font.
Slapped a Shiba Inu dog meme on it.
Set the supply at 100 billion coins because he thought it was "generally ridiculous" and launched on December 6, 2013.
Within 30 days the website had over a million visitors.
Within two months the daily trading volume briefly passed Bitcoin and every other cryptocurrency combined.
The community raised $30,000 in Dogecoin to send the Jamaican Bobsled Team to the 2014 Winter Olympics and then even sponsored a NASCAR driver.
In 2015, Markus got tired of the toxicity in crypto and sold his entire Dogecoin bag to buy a used Honda Civic.
In 2021, Elon Musk tweeted "Dogecoin is the people's crypto" and the price exploded.
Peak market cap: over $80 billion
A used Honda Civic costs about $8,000.
Markus created Dogecoin and mined it from day one.
Do the math on what he sold
His co founder Palmer left crypto entirely and called the whole industry "fundamentally exploitative."
A meme coin made in a few hours by two guys who thought crypto was a joke became worth more than most banks on earth.