Reddit Users Lose Real Money After Meme Currency Bot Dies
I knew Mohland and the DogeTipbot project pretty well. He did have a few employees mostly working in customer support.<p>He was a stand-up guy and a strong advocate for the Dogecoin community. People are talking about the fact that he liquidated the assets from user wallets as a malicious action, and while I agree it was a terrible choice, I see it more as a bad decision.<p>Backed into a corner he tried to leverage a businesses asset holdings to keep it a float in time to recover. Depending on your jurisdiction this is something banks do all the time as part of your balance is not liquid and invested elsewhere.<p>The issue here is his business didn&#x27;t recover and wasn&#x27;t ever going to.<p>Last I heard Josh&#x27;s plan was to keep the main part of the bot free and charge for websites and streamers to accept tips from the Dogecoin community. He wasn&#x27;t an idiot like this article tries to portray. There was a reason he was keeping the consumer end of things free. But, the micropayment landscape had more competitive options than a niche currency.<p>All in all its sad to see the business fail but this was poor business choices, not maliciousness nor stupidity like the article tries to claim.