Dogecoin Core Developer Bids Adios To The Project – Will This Hurt DOGE?

Christian Encila

1 year ago

2 mins read

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Ross Nicoll, a Dogecoin core developer, has announced his intention to back away from the meme-based cryptocurrency.

His justifications? The coin-making process was too stressful for him, and he has no desire to be associated with a potential conflict of interest in the job.

Dogecoin fell nearly 4% to $0.14 shortly after the news.

For the uninformed, the Dogecoin Foundation is a not-for-profit organization dedicated to the growth of the meme coin.

The foundation was re-formed in August after being created in 2014 but became inactive over time.

Vitalik Buterin, co-founder of Ethereum, is a consultant at DF.

Goodbye, Dogecoin Core Developer Role

Nicoll stated in a blog post Thursday that he is “stepping away” from Dogecoin for a variety of reasons.

Most notably, the stress is unbearable and he said he needs “to take a break to focus on myself for a period.”

Nicoll stated in a LinkedIn message to CoinDesk that his resignation is “neither definitive or instantaneous.”

“I want to be clear that this is a role change, and there will be a transition time. I’m not suddenly gone,” he pointed out.

DOGE total market cap at $18.76 billion in the daily chart | Source: TradingView.com

Dogecoin Price Sluggish

At the time of publication, DOGE was trading lower alongside other major coins, as the global cryptocurrency market cap plunged 5.5% to $1.86 trillion.

Just a few weeks ago, Dogecoin co-founder Billy Markus pleaded with followers to “be calm” as the cryptocurrency has struggled to gain traction since last month.

Markus urged members of the DOGE community in a tweet against being “toxic, crazy, and attacky,” since this may undermine the brand.

Friday saw a decline in the value of risk assets as geopolitical tensions resurfaced and investors braced for upcoming interest rate hikes.

United States President Joe Biden is likely to announce an executive order next week on the regulation of cryptocurrencies, which impacted mood as well.

The Musk Factor

Dogecoin’s success is inextricably linked to Tesla CEO Elon Musk’s enthusiasm for it.

The billionaire first mentioned Dogecoin on Twitter in early 2021, sharing a Lion King DOGE meme.

This sparked a frenzied DOGE rise — punctuated by temporary drops — culminating in Musk’s appearance on Saturday Night Live.

DOGE collapsed following Musk’s SNL performance, despite his vows to push its price up.

Musk appeared to lose interest in the ensuing months, and the price of DOGE has fallen more than 70% from its all-time high.

Musk, though, retains control of Dogecoin, as rare tweets reveal.

Protecting DOGE

Nicoll has been doing his darnedest to defend Dogecoin against trademark registrations by unaffiliated parties.

Dogecoin’s evolution is in the hands of its “co-creators,” he said, “in a way that I do not have the mindset for.”

Featured image from , chart from TradingView.com

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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