Gemini Now Supports Dogecoin: Winklevoss Statement
The following statement comes courtesy of Gemini CEO Tyler Winklevoss
Today, we are thrilled to announce trading and custody support for Dogecoin (DOGE), the funnest and friendliest crypto in the observable universe.
Deposits are now open for DOGE. Trading for DOGE will open shortly.
Trading will first open on our API/FIX and Active Trader™ applications for USD. Then it will open on our mobile and web applications on a rolling basis for USD, GBP, EUR, CAD, AUD, HKD and SGD pairs. Follow our Twitter account @Gemini to get real-time updates on when DOGE becomes available for trading.
With DOGE as part of the pack, we now offer over 40 cryptos for trading and custody and another 11 cryptos for custody. Learn more about all the cryptos we support here.
Dogecoin Is No Joke
Dogecoin is the people’s money. It’s organic, irreverent, and fun. It’s not forced on us by a government or some other central authority, it’s chosen by us, for us — by the people, for the people. Wow.
For many, the idea of emergent money that is not mandated by fiat is hard to grok. We’re used to being told what money is. For most of our lives, paternalistic money is all we’ve ever known…until Bitcoin.
Dogecoin continues Bitcoin’s tradition of giving the control of money back to the people. Yes, it’s a meme coin, but all money is a meme. And all money is both an idea and a matter of faith or belief in it. Over the multi-milennia history of money, the majority of money (be it shells, beads, precious metals, etc.) has been what we the people say it is and believe it is.
Dogecoin is the perfect vehicle to lay bare this fundamental truth about money. And in serving this purpose, DOGE has a legitimate claim to some value. It reflects the true history and nature of money. It turns the idea of money being something that’s issued by an authority — a conceit — on its head. They say there’s some truth in every joke. Dogecoin’s value is its punchline.
Dogecoin is as much a statement as it is a currency. A statement about the philosophy of money. The democratization of money. It’s a protest against the fact that fiat money and the centralized financial system are not level playing fields. That they are built by a few and disproportionately favor those few. That too much power rests in too few hands.
And the world is waking up to this. Nothing captured this more than the GameStop saga. We saw first-hand how the system is rigged against the individual investor and we can’t unsee this. We saw how the individual investor can be more sophisticated than the most sophisticated institutional investors. Most importantly, we saw that the individual investor is ready to demand better. We don’t believe it’s a coincidence that global interest in crypto and Dogecoin spiked after individual investors were GameStopped.
No one person, organization, or authority decides the value of a crypto – its value is determined by its supply and your demand for it. In Dogecoin’s case, its money supply is transparent, predictable, and disinflationary. The Dogecoin protocol issues a fixed amount of 5 billion DOGE every year. Over time, this fixed, annual issuance of 5 billion DOGE will represent a much smaller percentage of Dogecoin’s overall money supply. This means the growth rate of Dogecoin’s money supply is actually decreasing. In other words, Dogecoin’s money supply is disinflationary. This is not dissimilar to how Ethereum’s money supply of ether currently works. Recently, demand for Dogecoin has oustripped its supply. As a result, it’s price has been mooning. The people are speaking.
As the world ponders the popularity and meme-ification of a grammatically challenged dog, many are engaging in a referendum on centralized money and finance by joining the Dogecoin community. And the best part? They’re doing it with a smile. So amaze.
We’re not here to tell you what money is. We’ll leave that up to you. We’re here to empower you with greater choice, independence, and opportunity.