Digiconomist: Looking Back and Briefly Forward

September 1, 2014 marked both the first semi-annual anniversary of Digiconomist as well as the 100th post made on the website. For this occusion this special looks back, and then briefly forward.

Mission

Digiconomist was a created to be a platform that provides in-depth analysis, opinions and discussions with regard to Bitcoin and other cryptocurrencies. Anyone involved with cryptocurrencies should have some basic financial/economic knowledge, in order to understand the risks that could otherwise result in serious losses. Digiconomist is built to assist with acquiring this knowledge. This is intended to contribute to raising the overall quality of the cryptocurrency environment, which in turn may promote cryptocurrency acceptance.

History

The website was launched on March 1, 2014 just after the oldest and once largest Bitcoin exchange Mt.Gox officially filed for bankruptcy, after weeks of speculation regarding this. The bankruptcy immediately confirmed that there was a need within the cryptocurrency ecosystem for a website that raises risk awareness, and challenges both new and existing cryptocurrencies and involved entities.

Digiconomist was initially launched as Dogeconomist, which was derived from Dogecoin. The coin with a Dog on it was created in December 2013, and, unlike many other altcoins, managed to attract a whole new audience to digital currencies. For example, the coin managed to appeal to women which had so far mostly stayed away from the new money. With such a big new audience, it was a logical step to focus on raise risk awareness among this group.

However, it quickly became apparent that a broader focus was desirable. The second post on Digiconomist already featured a strong warning on the much-hyped Icelandic Auroracoin. At the time, the currency was trading at dangerously high levels given the flaws in its design. The price would later drop by 99.9 percent. After this, Dogeconomist has always retained a broad focus, which was eventually followed by rebranding to Digiconomist in July 2014.

Future

Despite having only existed for half a year, Digiconomist has managed to spark controversy several times. Naturally, it should be no surprise that warnings such as those on Auroracoin trigger negative reactions from developers and supporters. This is not likely to change in the future. As the website has developed, the posting schedule has become more structured and recurring categories such as exchange reviews have started appearing, setting the standard for the next half year.