And part of what made STEEM successful was me being there, there is a Framework for how to make Currencies work, and you can see the Framework Modeled very well in DOGE.
DOGE was a Joke,
"Much Currency, Very Wow".
To understand how it happened, you have to understand where Crypto was as a Technology. When you join in Mining Today, if you want to mine Bitcoin Profitably you need to have a large Hash rate, you are competing with Mining Farms. Otherwise you have to Mine smaller Currencies with less competition so your Hash rate is competitive. When Bitcoin started you could use 1 Laptop, when it started it was just 2 people Mining, then they shared the Technology out and it became a Novel thing, not even a Video Game Gold, just a Wallet and a Hash rate, and the ability to send it to each other.
Then one guy, probably sitting at his Mom's house, had 10,000 BTC, worth nothing. And traded them for 2 Pizzas, that was the first trade ever. Soon after, it was on the Silk Road as the Currency and you could buy Counterfeit Money, and have Heroine delivered by the Mail man. Eventually they were about to add a Human Body Parts market selling Ears and Noses, etc, when the Government took Custody.
But,
While that was happening Litecoin was created, a new Algorithm, Scrypt. This happened because Butterfly Labs was creating ASICs which blew CPU (Computer/Laptop Mining), and GPU (Gaming Processors), out of the Water and no one could Mine Bitcoin anymore, so they switched to Litecoin. At first there was no way to use an ASIC for Scrypt, but someone figured it out and they made Feather Coin to make it easier than Litecoin.
This kept happening until they made the CryptoNite (like Superman) Algorithm, for CryptoNotes (like Monero).
But before that, after Feather Coin or around the same time, was DOGE, a Joke and a Coin with so many in a Block everyone had tons, so they made threads to hand it out saying "everyone post your wallet for Free DOGE", and that made everyone invested. This works well for Proof of Stake also, which is where STEEM comes in.
Steemit is Delegated Proof of Work and Staking, so the Bitcoin type Mining is Voted for, meaning all the nodes can be held open by Laptops, then everyone else earns by Proof of Stake and through Votes on the Platform.
So what we are seeing is Currencies that have not just the new Tech, but that put it to uses that are accepted by the general public in a way that then becomes what is called a Meme, that's the best word for it, I don't like the word Meme, as you could call anything a Meme that becomes a Cultural icon but here it fits because it's about Internet Gifs and Banners, etc, which stick in your head.
But there is an element further than that which can be seen in the early joke coin BBQ Coin, which did start being accepted at a few BBQ places and then we can see the same thing in Gold/Silver for Bitcoin, or what we are doing in Soap for Crypto, these are all more than a Meme and ground the Currency.
We will raise HIVE to new heights.
