Cryptocurrency that Cares – The Reddit POV

This is part of my ongoing series about Digital Currencies. This is my interview with Victoria Taylor who is the Director of Comms for Reddit. She covers one of our favorite types of digital currencies which is Dogecoin. Enjoy! And ping her with question on Twitter @happysquid.

 Explain why the Dogecoin community is so friendly towards causes? 

Dogecoin is an exceptionally friendly and fun cryptocurrency that has a really philanthropic community. From the Winter Olympics (http://www.slashgear.com/dogecoin-charity-funds-another-team-for-2014-sochi-winter-olympics-30315132/) to Kenyan Water Charities (http://www.forbes.com/sites/matthickey/2014/03/17/such-generosity-most-expensive-tweet-ever-sends-11000-to-kenyan-water-charity-via-dogecoin/) to the recent Josh Wise sponsorship by Doge (http://msn.foxsports.com/nascar/shake-and-bake/to-the-moon-josh-wise-talks-to-race-hub-about-his-dogecoin-sponsorship-in-talladega-043014), Dogecoin continues to lead the charge in terms of giving back.

 Dogecoin has become second only to Bitcoin in terms of market value, how did that happen? 

There are myriad factors that probably affect this, but i would say that Doge’s increased visibility with the larger public probably has helped boost its value (http://www.theverge.com/2014/4/29/5665470/dogecoin-has-its-day-the-unlikely-success-of-a-joke-cryptocurrency). 

 If a nonprofit wanted to start accepting Dogecoin who would they hire to enable the transactions? Who are the providers in the space? 

There are a variety of support solutions for Dogecoin; I believe https://moolah.io/ is one that is specifically looking at non profit cryptocurrency solutions.

 If a nonprofit wanted to start accepting Bitcoin who would they hire to enable the transactions? Who are the providers in the space? 

Again, Moolah.io as previously mentioned; there are other companies emerging like https://dogepos.com/

 What are the risks of using Dogecoin as a currency? What are the benefits? 

Risks are that it is a crypto currency, with the attendant transfer costs and it’s a bit more complicated to use. Benefits are that it’s fun, exciting and can generate awareness for your charitable cause as an early adopter at this time.

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