|Creation Date||February 2014|
Introduction to Dope Coin
Dope Coin is one of the earlier cannabis coin projects. Like many other projects from around 2014, it started as a mineable cryptocurrency, a nd aimed at being used for buying and selling cannabis. It was a PoW coin at the start. However, no dispensaries or users showed any interest in Dope Coin and the project was abandoned by the original developer. Another group of anonymous developers took over the project and turned it into a “cannabis advertising network” in February 2017, giving the project a new name “Dope Coin Gold”.
What is Dope Coin? What does the project do?
You cannot but cannabis with Dope Coin. The goal of the project has now changed, as mentioned above, to a project for advertising cannabis. The original BitcoinTalk ANN post explains the reason for this change. It says “Nobody shows any real interest in buying or selling cannabis with a crypto- currency. All other projects experience the same problem too. The market is just not ready for this change. So we decided to change our goal: Dope Coin is an advertising crypto-currency now.”
Cannabis websites can display ad space on their website. Cannabis-based advertisers can then buy these ad spaces with Dope Coin. Simply put, Dope Coin turned into an advertising network and the team aim to make it possible to buy advertising (banner) space on cannabis-related websites with DOPE coins. However, note that this system is not active as of yet. There are no cannabis related websites that accept payments with DOPE coins in exchange for banner space. There is also no way for an advertising agency to be able to buy ad space with DOPE coins
The new development team also plan to create a website called www.reefermedia.com and deliver news about the cannabis industry, but this website has no plans to accept Dope Coin.
All of the above are future goals and possibly wishful thinking. As of now, DOPE coins have no real world uses.
What are DOPE coins used for? Is there any value to holding them?
They are used for purchasing advertising space on cannabis-related websites.
DOPE is now a PoS coin. Block time is 1.5 minutes and staking the coin gives a 5% annual interest, which probably isn’t high enough to be worth the effort and risk of setting up staking on a small altcoin.
The Dope Coin Team
We do not know anything about the development team other than they consist of 6 people. There are some photos of young looking people on the website, but no names, and there is no way of knowing who is really behind the project.
There is barely any social presence about Dope Coin. The new developers rarely post in the BitcoinTalk thread. The project have accounts on Twitter, Reddit, Slack, Facebook, and Instagram, but these are mostly used for promotional messages, not for sharing the latest developments.
|Mining||None (staking only)|
|Block Time / Transaction Fee||90 seconds / –|
|Current Value (Total)||$ 3,214,459|
|Can Be Traded In||Bittrex, Cryptopia|
|Can It Be Used in Real World?||No|
The project does not have a roadmap.