Nicoll said in his letter he depends on his day job to pay the bills. But six months on, and instead the project is losing another key figure. "It has come to the point that many of the people who have been working non-stop to make Dogecoin what it is today whilst holding down full-time day jobs have been burning out and struggling to deal with the flood of attention (good and bad) that Dogecoin has been receiving," said the press release.Īt that point, there was a commitment to hiring full-time staff. In August, when the Dogecoin Foundation was reformed, there was a recognition that the status quo wasn't working. Unfortunately, his departure is indicative of a bigger issue: Dogecoin needs full-time employees and to shake off its trademark problems. Nicoll's announcement did not have a huge impact on DOGE's price, and the developer says he'll continue to be involved in an advisory capacity. Shark Tank judge and Dallas Mavericks owner, Mark Cuban, said Dogecoin is a medium that can be used for the acquisition of goods and services. Dogecoin is starting to gain traction as a form of payment. With some industry heavy hitters like Vitalik Buterin on its advisory board, the foundation aims to help Dogecoin to scale and become a widely-used crypto. That's exactly what the re-formed Dogecoin Foundation is trying to do. But the challenge, it's extremely difficult to go back and re-engineer this multibillion-dollar project. That and the fact that billionaire Elon Musk decided it would be ironic if a joke coin became the currency of the future and promoted it on social media. In part, its success is down to the tireless efforts of people like Ross Nicoll. Learn more and get started today with a special new member discount. Sign up today for Stock Advisor and get access to our exclusive report where you can get the full scoop on this company and its upside as a long-term investment. In fact, you've probably used this company's technology in the past few days, even if you've never had an account or even heard of the company before. We’ve found one company that’s positioned itself perfectly as a long-term picks-and-shovels solution for the broader crypto market - Bitcoin, Dogecoin, and all the others. It wouldn't be run by part-time semi-volunteers and have no headquarters. A normal business would have full-time employees. A normal business would register its trademark. A normal business would start with a plan and a clear statement of what it intends to do. "There is a further complication that my employer for my day job is moving into the blockchain space, leading to a risk of conflict of interest if I remain as a Director." Dogecoin's stratospheric growth and shaky foundationsĭogecoin is a project that continually defies expectations. "Primarily the stress involved is overwhelming and I need to step back to focus on myself for a period," he said in a blog post. Nicoll also mentioned the challenge of handling Dogecoin trademark issues, which have dogged the team's efforts in recent months. Nicoll, who is also a director on the Dogecoin Foundation advisory board, said he'd been struggling to keep on top of his Dogecoin work as well as a full-time job. Dogecoin (DOGE) core developer, Ross Nicoll, announced last week he will step away from the project.
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