Dogecoin’s New Tipping Bot is Here!

dogecoin tip botGood News! Dogecoin’s incredibly active reddit community has gotten a new tip bot in place for tipping shibes on reddit. It is called “sodogetip,” and it is a very nice replacement to the previous “dogetipbot” that many were familiar with. The need for a new tipbot Recent price surges in Dogecoin have brought many old shibes back to the coin and the community. Many of them were unaware of the dogetipbot’s retirement after its creator had cashed out the cold wallet and began bankruptcy filing proceedings. This was met with frustration, pity, and overall sadness by the community. I personally

dogecoin tip bot

Good News! Dogecoin’s incredibly active reddit community has gotten a new tip bot in place for tipping shibes on reddit. It is called “sodogetip,” and it is a very nice replacement to the previous “dogetipbot” that many were familiar with.

The need for a new tipbot

Recent price surges in Dogecoin have brought many old shibes back to the coin and the community. Many of them were unaware of the dogetipbot’s retirement after its creator had cashed out the cold wallet and began bankruptcy filing proceedings. This was met with frustration, pity, and overall sadness by the community. I personally lamented this, not because of the 200 doge I lost, but because I worried that without a convenient way to tip people the community’s growth might stagnate. Reciprocity, after all, is the key for growing communities.

While the community still held on chain giveaways, the need for a bot was well known. A big shout out to the developers who made this work, and they even had a little giveaway with the new bot.

It seems to work well, and it has one very apparent improvement over the previous tip bot. Sodogetip is on-chain, whereas dogetipbot was off chain. In fact, it is reddit’s only on-chain tipping bot. The implication here is huge. While the new bot’s users will do well to remember that they should never hold more coins in this service than they are willing to lose, the fact that sodogetip is more transparent than the previous one is helpful.

It means that no one can secretly cash out everyone’s coins. The downside of this though, is that since it is on chain miner’s fees apply. Mind you, at the constant price of 1 Doge per transaction, you will never hear me complain about that fee.

A quick tutorial on setup and use

Registering for the bot is simple and easy. If a reddit user gets tipped and has not registered yet, their tip is held for three days until they are registered. The developers have created a page for quick access to the bot’s and the user’s information.

Tipping itself is very similar to the previous bot, and like many other crypto tipping bots. Once you have received a tip or loaded your sodogetip account via the deposit address, you can start tipping whoever you’d like. Calling the command “+/u/sodogetip [amount of doge] doge [optional verify]” will send that amount of doge on chain to the intended recipient, plus the one doge miner’s fee. Messages sent to the bot itself can provide transaction history, balance confirmations, and general help.

So now that you know how to use the new tipbot, why not head over to the dogecoin subreddit to say hi to everyone, maybe even tip a few shibes or hold a giveaway while you are there. They are a fun group to hang out with, you may like what you see.

If you are into looking at lines of code, you may enjoy the open source of this bot found on github. Looking at the inner workings may inspire you to learn more about code, crypto, or both.

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10% in 30 Minutes – Dogecoin’s Strange Late May Day

dogecoinThe Merkle recently received a tip about potentially dubious activity happening on one of the larger Cryptocurrency trading platforms: Poloniex. This particular instance surrounds a digital asset that many of you know I love, Dogecoin. Wait, what happened? Someone tipped The Merkle off about what seemed like insider trading, and linked a reddit post that was in /r/dogecoin. Frankly, the data does look weird, and we at The Merkle felt it worth following up on. Screenshot Credit /u/randowwhistleblower   For those of you who may not be as familiar with a graph such as this, it is demonstrating Dogecoin’s performance

dogecoin

The Merkle recently received a tip about potentially dubious activity happening on one of the larger Cryptocurrency trading platforms: Poloniex. This particular instance surrounds a digital asset that many of you know I love, Dogecoin.

Wait, what happened?

Someone tipped The Merkle off about what seemed like insider trading, and linked a reddit post that was in /r/dogecoin. Frankly, the data does look weird, and we at The Merkle felt it worth following up on.

Screenshot Credit /u/randowwhistleblower

 

For those of you who may not be as familiar with a graph such as this, it is demonstrating Dogecoin’s performance between late May 27th and early May 29th. We can see a sharp incline in a short amount of time, followed by a large decline. As /u/randowwhistleblower pointed out in the previously linked post, this two day range tells a rather interesting tale, one that may be hard for many traders using this trading platform to swallow. It could be an instance of insider trading, or some other sort of collusion that was going on in an incredibly short window.

Is this really a controversy?

Well, maybe? At the time of writing this article, this post was positive 11 upvotes, but upvoted 99%, other commenters in this post were concerned that the post itself may be being suppressed to quiet the entire thing. In the comments, one individual mentioned how they thought the upvote/downvote numbers to be somewhat strange and mentioned this could be the work of bots to reduce the post’s exposure or hurt its credibility.

The evidence for upvote/downvote influence is hard to gauge, though 11 points being 99% upvoted is a bit strange of a upvote ratio. To be fair, a more active dogecoin community may have been responsible for burying this post without outside interference. As there were about 500 shibes on this subreddit while writing this article. Honestly, I think that the active community is more likely to have buried this with other posts, considering that new posts do not stay on the front page for too long at this point.

 

Transaction alignment to volume of Dogecoin

The top comment of this post points out that in the 30 minute span between blocks #1733190 and #1733219, 73 transactions collectively making up about 10 Billion doge (10% of all dogecoin’s supply) moved into smaller addresses. This could be an attempt to make it look like many traders wanted to do a big short on dogecoin, which would make values rise without sellers having anything to do with it. Allegedly in the TrollBox -a kind of chat function for the platform- there is also an instance where one user claimed they would be right back with “something big” prior to these enormous transactions. The timing on that alleged comment, the amount the exchanged addresses strikes me as just a bit too coincidental.

A note, not an accusation, and thoughts to consider

While I find some of these numbers and timing rather concerning, I cannot say for certain that there is anything overtly malicious happening here. The fact that almost 10% of all Dogecoin being moved into smaller addresses over such a short span is strange, but this does not mean it has to be “insider trading” or anything of that caliber. What it is exactly, I am unsure about.

Though what does concern me the most in all of this is seeing how someone, a group of people, or an exchange can influence the price of Dogecoin -and potentially any digital asset- so easily. If this time was not intentional and meaningful market manipulation, it is a demonstration of how someone or some organization with such intentions could manage to manipulate it.

Exchanges are necessary for the market so people can buy and trade their digital assets. However in a cryptoworld where there is no real regulation on trading and exchanges, I would much rather see crypto users and traders spread out a bit more so that exchanges are not in positions where they can host 10% of all an asset’s supply in the span of 30 minutes. If anything this is a wake up call for better decentralization.

Disclaimer: I am not a professional trader or professional market analyst, while the data here is weird I do not know that it constitutes anything nefarious.