Prohashing takes 1% of dogecoins off the market
Posted: Thu Sep 02, 2021 1:54 pm
Prohashing has been mining dogecoins for years, and recently, the coin has become one of the pool's most profitable to mine. Previously, Prohashing exchanged all dogecoins (and other coins) for bitcoins and dollars, which were then used to pay customers and vendors.
With Robinhood gaining 64% of its cryptocurrency business in dogecoins, far more than any other coin, we changed the pool's behavior yesterday to stop selling dogecoins. Now, the only times dogecoins will be sold are when we have have poor dogecoin luck and need money to pay customers who are owed other coins. Having found 14 blocks yesterday, this change has the effect of taking 1% of the dogecoin network's mined blocks off the market.
It's strange to think that a coin that was created as a joke has such a bright future!
With Robinhood gaining 64% of its cryptocurrency business in dogecoins, far more than any other coin, we changed the pool's behavior yesterday to stop selling dogecoins. Now, the only times dogecoins will be sold are when we have have poor dogecoin luck and need money to pay customers who are owed other coins. Having found 14 blocks yesterday, this change has the effect of taking 1% of the dogecoin network's mined blocks off the market.
It's strange to think that a coin that was created as a joke has such a bright future!