Bitcoin Forum

For something that started out as a tongue-in-cheek jab at cryptocurrencies, it's become surprisingly popular.  Do you think Dogecoin will ever become on of the "big" altcoins, or will it fade like so many of the rest?

I think it'll always be a joke and will fade away once mining becomes unprofitable and people get tired of the joke.

possibly, its going to see if catcoin gets hot like doge but i highly doubt it.  just have to do your research as with anything.

Why would catcoin get any attention? What does it have behind it?

Catcoin is already hot despite its disastrous launch

I think that with the community that has sprung up around it along with the volume of coins. Dogecoin has a good chance at becoming a very widely use coin. It solves the problem many people have with wanting to send low amount of bitcoin and not pay more then it is worth in fees. Since alot can be gained cheaply i think people would be more inclined to spend them or gift them thus raising it's useablity. The biggest thing going for it, it is alot more fun to send 10 coins to someone rather than send 0.0000101 of a bitcoin even if both have the same "value".

dogecoin will stay a joke because of the crazy amount of coins. It is a hype and will eventually die off. when? i don't know :)

it will always be a joke !!

it will die when the joke gets old.

I think it's mostly hype that is driving it. Easy to obtain. Cheap. Based off a meme so it is more 'fun.' You never know though ..there's a place for everything. Not sure what exactly it offers from a functional standpoint, but that doesn't mean it doesn't have one.

Isstini makes a good point; can't underplay the psychological factors people will find in it.

I imagine it will stick around for quite a while yet.

The joke already got old.

I dont think this coin is gonna get old. its a good alternative for people who love dogs  :D. when will we see the pussycatcoin?

There's already a catcoin.

It really did. But there's a lot of other shitcoins that have absolutely no additional benefits, are without the 'hook' and should have died long ago, yet they're still traded.  ::) For some reason, there has been a huge influx of registered users here for Doge ..they're gonna hold the demand up some. ...or they're sock puppets trying to pump price and it'll crash in a glorious avalanche all at once.

catcoin / kittehcoin are absolute shitcoins... even worse than doge... that last kittehcoin doesnt even have a windows wallet yet...

There's a kittehcoin?  :'( I shed a tear for cryptos.

@OP Not exactly because the really joke is over now everyone should pay attention at 'Catcoin' ;D

Its already so much more. But how long will it even be semi-relevant?

Maybe it's a joke.

im actually quite surprised at the success its already had.... but if i were to guess it is going to fade away but i could be wrong

It doesn't matter, as long as we all have some fun. But to be honest, "Doge" sounds a bit strange. I'm new here and i saw "Dime" coin. I'm more interested in that one.

Anyway, Merry X-Mas

Sam

People seem to be forgetting that a lot of people don't work or go to school during December and the holidays. We will see in January, if the flow of newbs is as high as now. 

Doge is a lot of coins in a lot of hands! I think it could have some potential for micropayments on the web in the future...

I refuse to spend any real money (or trade it for other crypto-currency) though. Just casually mine a few thousand here and there.

I still mine Doge, I trade it on an exchange for Bitcoin.

It will stay around for a while, a little while at least...how many coins has it already passed up, quickly! Too many coins that should be dead...but just wont die, like bad zombies. Doge will stick it out for a bit.

heresy,heresy I say!

the almighty doge will never fade away, he's always around us, since the begging of doge and until Earth explodes the doge will be here!

DogeCoin is merely a spectacle.  I believe it will fade in due time.

I have faith in it because people said the joke is old already a few days after it came up. The annoyance is a big part of the meme. There is always somebody having fun at annoying people.

in my opinion the coin will be around for some time, some good reasons were already posted:

1) Quantity  -             People just like to have coins... many coins. I don't know why, but for many people 1000 cents just sounds more than 10 $/€
2) Easy to mine -        The difficulty is still very low in comparison to other cryptocurrencies. another point is you get a ridiculous amount of revenue for solving one block (see pt 1)
3) The meme factor -  Many doges, so much known, very interest, wow

and many others

You have to add to this the infrastructure the coin has attracted.  Lots of faucets, doge-dice, and it's on what, three exchanges?  I agree the joke is already old, but the coin never took itself seriously and there has got to be something to say for that.  Having lots of nothing is fun!

When I first heard about it I laughed at the name, but I personally don't think it'll be more than what it is now as there are many other alt coins out there.

Every DogE have a day so lets wait I Hope Doge will not only be a joke.

@Ch1bi sure because you can still laughed at the Catcoin also  ;D

So far I mine it with my GPU, but Dogecoin will fade away once mining Doges becomes unprofitable. The Dogecoin will be still alive, but more popular and fresh altcoin starts later

Mined like 50k and bought 100K and been excancing them to bitcoin for a better price,and buying back.Well see it in mid january if itll hit the moon.
If not it will just die out.Needs lot of promoting and something to do with the coin.If buy/sell is the only option,it wont survive.

I think dogecoin's real advantage is that it really has the potential to bring in a range of casual users who haven't ventured into cryptocurrencies before. Everyone can send their friends dogecoins, wear dogecoin t-shirts, tip in doge freely and so forth. It's approachable and funny (at least to those who haven't been seeing the doge meme endlessly).

If dogecoin grows the bitcoin market, that's only a net benefit for everyone already in there. And if the hype train keeps up, it *will* grow the market and boost bitcoin - just like it's gotten me to purchase BTC for the first time, so I can buy doge.

Why can't people do all that with Bitcoin?

Maybe they can if they stick an e on the end: Bitecoine. HAHA hilarious to the moon wow such profit.

of course not, in fact all altcoins are a joke and DOGEcoin is the joke-iest.

Can't understand the hype with Doge myself.

Far better, more serious alts out there, if it blossoms all well and good but I won't be upset to see it die away.

I think people are just tired of the huge amount of inspirational new currencys and they just want a little entertainment before Christmas)

What are all these inspirational new currencies?

No, nothing more. You can expect something to last that was intended as a joke.

People laughed at Bitcoin when it first started out as well. Granted it wasn't based on a meme, but the meme factor may be exactly what keeps Dogecoin (and even Catcoin) going. Dogecoin has introduced a ton of people to Cryptocurrency that otherwise wouldn't have even wanted to know about it. I myself wasn't really interested in Bitcoins or any of the other coins until Dogecoin started up (even though I'm not a fan of the Doge meme), but now I actually understand some of the concepts behind Cryptocurrency.

Even if Dogecoin and other meme currencies only last for a short period, they'll still manage to bring an influx of new people into the community. And ultimately that's probably all that matters. Bitcoin and Litecoin are too mature and too wrapped up in their own desire to be taken seriously to attract many new people.

It will rise and be bigger than litecoin. the name is just genius.

Well it's the same with all the other Altcoins out there, it really depends on many factors. The Doge meme has a large community but its hard to tell if this is just a hype that will cool down in the next few weeks. But Catcoins are really getting attention since release, even after the bad start.
That could be the end of doge, but on the other hand the classic battle between Cat- and Dog(e)-people is way older than any meme and could bring value to both of these.

It does have a sort of draw to it...

I kind of like Dogecoint, it think it's more than a joke.

I am not sure if it will stay around or not but I don't really think that the whole crypto-currency industry has even been around long enough to see what really happens to these alt coins after they mature.  I mean...Bitcoin was around the longest and we know how that's been going....Litecoin has been around the second longest and that's going pretty well so far.....there's a chance (in my mind anyways) that over the long term....there's a place for many of these alt coins for all different purposes.  When you think about it....the entire world is a big place with many people....if everyone eventually started using crypto-currencies as a  normal part of their everyday reality....that's a lot of people and those people could sustain the use of a lot of different types of currencies if they wanted to....so really.....none of the coins ever have to die....they can just kind of ebb and flow....for periods of time, they could become abandoned and 'die'.....but they could always get resurrected again if there was a want/need out there for them...so the possibilities are really interesting to wonder about.....I would be more inclined to expect the coins that are there now to last because I think the value of the coins really comes into play as they mature and start to get used more widely. 

A business won't really want to change the types of coins it accepts everyday (even though there are new coins that emerge each day right now)....just like a business doesn't want to post links to a whole bunch of social media sites on their website.  They usually tend to list 3....the top three (Facebook, Twitter, LinkedIn....or some variation of that).....I think that eventually.....businesses (generally speaking) will settle on the top three crypto-currencies that they will accept (or something like that).....once all of the new crypto-currency innovations level off and there's nothing really new to offer anymore (I guess there could always be new coins getting created even after all of the major upgrade innovations have occured...but at a certain point there won't be any real purpose for them other than to get the initial people that created them and early adopters rich...which doesn't really add a lot of value to the space).....then I think the length of time that the coin has been in existence as well as how widely accepted it is will really come into play...just my 2 cents of course.....

doge must die

I'm wondering if PETA likes Dogecoins  ::)

vice doge

http://motherboard.vice.com/blog/dogecoins-founders-believe-in-the-power-of-meme-currencies

It started as a joke, but time will pass and Doge value will increase.

i have zero doge coin, and i dont mine it....

if someone has 1000s of doge coin or more, feel free to send me a few doges to get me started!

DU5LMWyN6afxG3PFkFaVXWtSANcGWQZPmH

Hard to say but I think the reddit doge tips is a great way to promote the coin and keep it going.

Plus there's such a community behind silly dog (and cat) pics, that I can't see it going away anytime soon, even if
it's only used as a currency to tip photographers/artists. Think of how many animal pics are created every day!

There is so many crypto currency. Many of them arent worth it

It got big too fast :o

It was fun while the real hype lasted.

I think Dogecoin will always be a joke and as long as there's hype around it, it'll stay going up. It got dumped a couple times and I think it'll be a rollercoaster all the way down until people get tired of it and just dump it all for good.  ;D

Not much else to say, it was a hype, people bought them and mined them until they finally realized that you can't actually do anything at all with them, I guess. If a new coin wants to survive it you have to be able to use them, and if the exchange rate is just a downward graph then nobody will really be interesting in getting in on it. All the miners just jump onto the next train to ride.

If the hype stays long, and doge gets more functions, it could be a serious coin.

Dogecoin has a chance to survive because it's a joke

It will always be a joke, but this doesn't mean you can't make money during the hype.

It may or may not. The issue I see with it is the insane amount of coins in existence already

serious coin

                        much woof

  wow factor!

pump & dump coin

Just another alternative coin, worth mining only if most profitable to mine with my GPU

Dogecoin is right now more than a joke!

Dogecoin is not a joke!

To me it's already no joke. Was one of the early miners. Was able to get 1 000 000 Doges before the difficulty became unbearable. To a poor old miner like myself this is striking gold! Sold off 900k when the first peak came, never been this rich in my life. Holding 100k Doge just in case it tenfolds it's value, again.

..Or probably it won't! It's no-doge-spammers revenge ahahah
Have fun and Merry Christmas :-)

http://www.reddit.com/r/dogecoin/comments/1tp40b/dogecoin_is_broken_merry_christmas/

My buddy asked me if I was mining them the other day.  I literally had no clue what he was asking at first.  I responded with WoW?  Played for years and we played Xbox so I thought maybe he started.  He linked me some info and yeah I didn't see it as a worth while use of GPU or CPU on spare boxes that I'm turning into mining servers.

The logo still cracks me up though.

Dogecoin has been well received by the community, but it's just the name 'doge' I don't like. Even though recent stats shows lots of potential I can't seem to get over the name.

Will DOGEcoin ever be more than a joke? Highly unlikely imho. But, stranger things have been afoot for quite sometime.

A pfffffft, the dev can handle script kiddies like this blindfolded. Besides not enough coins are even in circulation yet for this to work. I do hope people try to come up with things like this though, if they manage to break a coin and it's devs can't fix it, the coin deserves to die. Cryptocoinworld is survival of the fittest in it's finest.

Doge will survive, I guess. Just because it is based on a meme, the hype is big. We'll see, but I'm in!  :)

I think a better question is will altcoins ever be more than a joke?

Unprecedented energy for an altcoin.  People that never heard of cryptocurrency have heard of dogecoin.  Joke or not it is helping people learn about cryptocurrency. 

Its looking good so far

http://www.reddit.com/r/dogecoin/comments/1tottg/dogewallet_hacked_21_million_dogecoins_stolen/

There has been a lot of controversy over dogecoin since it came out. Whatever you do, don't use dogewallet. In fact, with any crypo currency, don't use an online wallet to hold your funds. Additional controversy over doge will either run it into the ground or send it to the moon. I personally hope it sends it into the ground. Doge seems to be just another flash in the pan coin. If it ends up becoming huge I think it will adversely effect the entire crypto currency market. Normal people just can't take a name like "doge" seriously, especially when people who have never seen the term think it is "dodge" coin.

How much is that? About 50 dollars? lol

Doge has great PR and strong community. It'll survive.

on BTer right now the exchange rate is about 0.00000083 or 83 satoshi. If we say 21 million doge were stolen and sold at that amount it would be worth 1743000000 satoshi or 17.43 BTC. Seems like a lot more than 50 dollars IMO.

i think doge is the next bitcoin it´s not just a joke!

It will never be a real aterno-cryptocurrency. Just looks at the amount of coins, 2 weeks after the launch .
And really too easy to obtain .

Reasons for this?

What makes you think so???

Their site is down had mined some now dont have any loose change will be appreciated


D9tRNagcwhqyQb5cJ9bNKDY1M12BvH6GPo

you think doge is a joke? ???

Prepare yourself for the dogepocalipse, it's going to be worth less than a satoshi today!

http://global3.memecdn.com/dead-dog_o_1073728.jpg

Yes.

I personally think Dogecoin is pretty genius. I know I am in a big minority here, but I don't see Dogecoin as being any more of a joke than any other cryptocurrency. Every single Cryptocurrency essentially amounts to a big pyramid scheme where early adopters are the ones who stand to gain the most if their crypto currency becomes "successful".

And success as far as Cryptocurrencies go, has a lot to do with how many people adopt it, mine it and are willing to trade and sell it or exchange it for services. Just like Pyramid schemes, it's all about marketing and getting enough people to buy into the system. And in that, Dogecoin has excelled because it has gotten average, non-technical folk interested and adopting it. Mostly for the lols, but it really doesn't matter why they are adopting it. What matters is that there are tons of folks who would never give a shit about more "elite" cryptocurrencies, who are setting up wallets, participating in the Doge community and also getting into mining.

Every other serious alt cryptocurrency here would absolutely love the same amount of exposure and interest that Doge has, except they don't want it to be because of a stupid dog meme. It hits a raw nerve because in a sense, it is a perfect parody of the entire cryptocurrency system.

I'm still mining Dogecoins just for fun and to throw them around at others on Reddit and elsewhere. The community is a lot more laid back than any other crypto community and while it would be great if it actually took off to be of some monetary significance, plenty of people are just happy mining and exchanging Doge for fun and have no misguided notions of all the riches they might accrue with Dogecoins.

In the end Dogecoins are great for the cryptocurrency community because it will get a lot of newbies into Cryptocurrencies, and inevitably, many will diversify and end up adopting other cryptocurrencies.

However, fundamentally, I dislike the basic premise of Cryptocurrencies where early adopters and those with lots of money to burn on expensive and pointless mining rigs essentially "Get rich". For something that is supposed to be so anti-establishment, I would have hoped people would have adopted a system that would be less likely to divide people into the Haves and Have-nots

While Doge currency also has these same issues, the easy availability of Doge coins and the willingness of the community to share the wealth makes it a lot more fun and worthwhile for outsiders and those new to cryptocurrencies. The unfortunate reality for hardcore cryptocurrency folks is that a fun/stupid meme coupled to a digital currency is a lot more endearing and interesting to the average person than some uber elite crypto currency that no one has heard about.

Doge (/ˈdoʊdʒ/ DOHJ or /ˈdoʊɡ/ DOHG) is an Internet meme that became popular in 2013.[1][2] The meme typically consists of a picture of a Shiba Inu dog, often with text written in Comic Sans in the foreground. The text is deliberately written in broken English, following the format of "such x", "many x", "very x" and "so x".[1][3] The word "wow" is often used in the meme.[1]

The meme's origin has been much traced back to the Shiba Confessions Tumblr blog.[4][dubious – discuss] Pictures on the blog have an extremely similar theme and look to Doge images. The Shiba Confessions blog, and later the actual Doge meme, have both been covered on BuzzFeed.[5][6][7] However, the use of the misspelled "doge" dates back to June 2005, when it was mentioned in an episode of Homestar Runner’s puppet series.[8] In August 2013, images of the meme were spammed on Reddit by 4chan's random imageboard, /b/.[9] A search of the term doge on Google Trends shows an explosion of popularity occurring in October 2013, and more so in the following month.[10] By November 2013, the meme had become widespread on the internet.[11] Google later created a Doge easter egg when doge meme was entered into the YouTube search bar.[12] The meme was ranked #12 on MTV's list of "50 Things Pop Culture Had Us Giving Thanks For" in 2013.[13] Io9 compared the internal dialog of the Shiba Inu dogs to Lolcat-speak.[14] The image most commonly associated with the meme is of a female Shiba Inu named Kabosu, taken from a blog documenting the dog's daily activities.[15] The spelling of doge has several variants, leading to debate on its actual pronunciation.[8][16] On December 13, Doge was declared Know Your Meme's "top meme for 2013" by NBC News.[17]

In July a page for Doge was added to Know Your Meme. As of December 22, with 34 external references, it was still considered a submission, being researched and evaluated.[18]

In December, the Dogecoin was introduced as a new cryptocurrency, making it the first cryptocurrency to be based on an Internet meme,[19][20][21][22][23][24]a viral phenomenon which, along with the usage of comic sans, gave it "the Internet density of a large star."[25]

http://upload.wikimedia.org/wikipedia/en/4/4e/Shibe_Inu_Doge_meme.jpg

http://en.wikipedia.org/wiki/File:Shibe_Inu_Doge_meme.jpg

I can´t see a single reason why Dogecoin would be a success.
It started as a joke, and will end as a even bigger joke.

TrollCoin  :D

They're not pyramid schemes, but people are treating them like they are.

If so - What incentive is there for someone new to cryptocurrencies to get into something like BTC? Mining is pretty much hopeless unless you are willing to spend tons on highly specialized mining rigs. Given the volatility in BTC value, investing USD to buy BTC is a financially dumb and risky move and pretty much amounts to gambling. So why/how should Joe Schmo get into BTC at this stage and how is it going to be in his interest to do so? From the outside looking in, it looks like all the early adopters want Joe Schmo and all his buddies to adopt BTC and invest money into it, so they can cash out and make their money.

dogecoin was never a joke

I think it's a joke, but then again in 1994 I wrote the first E-commerce web site as a screaming joke. Didn't expect more than 2 people to use it, we got 100+ people to sign up for the conference.

That code was in use for 18 years. Go figure.

C

Sometimes jokes makes a big ball, and then it is difficult to stop. Hopefully Dogecoin doesn't die....

How much Dogecoin do you think the naysayers have actually mined, as someone new to mining, it is a great opportunity to get a larger reward for the time spend mining. I do not have the greatest rig, or the money to shovel into a great rig, it is fun to learn about the different alt-currencies and eventually I and other may be able to afford such rigs that would allow us to mine the coins others see as valuable. I see Doge as valuable.

Just my 3 cents

I hope it will survive, just because its a big fuck you in all this seriousness

lol

Its high on Cryptsy of .8 of a bitcoin on December 18 was quite a feat, so much so it took 6 hours for my wallet to be deposited

have you ever seen the community under it?

I love the  fact that Doge upsets "serious" traders. I bought early and made some money of it, but long term, I worry for the coin. There are just too many of them and too many slumdog millionaires waiting to sell into any rise.

Hey guys,
I'm thinking about developing a new crypto called "Buttcoin"
What do you all think?  ;)
You mine it by farting on your rig.

http://i41.tinypic.com/osx215.png

@Lamontweaver You really have to get ready about them furthermore people are loosing trust for this altcoin.

Haha I'm in. I'm sure somebody will eventually create this.

Dogecoin is the future

such random   

much profit    wow   

many coin

------------------------
from Brazil (http://www.youtube.com/watch?v=1hKCtaKGjTQ).
No, I'm not going to the world cup (http://www.youtube.com/watch?v=ZApBgNQgKPU).

carnival (http://www.youtube.com/watch?v=Xfj-jBxZbsc)

It's strange that there are a lot of alternative coins without worth or worth linked to BTC.

Looks like each hour is released new altcoin, most of them are just copycats, what the Devs are thinking about...

Buying BTC is financially dumb? Amounts to gambling? ..what do you call investment in any capacity? You're judging Bitcoin by the individuals involved rather than the coin itself. Of course, the people buying into BTC are mostly speculative and driven by greed - the dream to get rich with little to no effort. So this causes you to call BTC a pyramid scheme?

Instead of looking at who is holding the coin, we should look at what Bitcoin, or more importantly, cryptocurrencies offer;
-Anyone can send money to anyone else, anywhere with no limitations, with no middle-men for little to no fee.
-Less risk for merchants having to deal with fraudulent charge-backs, & no payment processor fees to the merchant
-Protects against identity theft as it doesn't expose any of the customers' sensitive information the way credit cards do
-The ability of a globally accepted currency to reach places in which other payment systems are not established -or are corrupted
-Liberating from corrupt centralized agencies
-Entirely market driven; the value is set upon pure market conditions only
-It's secure (as secure as the initiative a person puts into securing their assets -requires responsibility) and it's transparent
-Naturally deflationary -encourages responsible spending, instead of gluttonous consumption
..and these are only from a strictly financial standpoint. They are capable of much more than merely a system of payment.

Pyramid Scheme? I'm sorry, but you don't understand what this is all about then. It may not be Bitcoin, it might be something else entirely -but cryptocurrencies will do to financial mediums of exchange what the Internet did to information gathering and sharing.

Dogecoin is a joke and very smart scam. Bagholders will cry. The real currency is Kittehcoin.

Investing USD to buy any cryptocurrency is not best in my opinion, buy only if you want spend.
You may invest in creating business accepting cryptocurrency instead, and you find only real option here is Bitcoin

Blasphemer! Catcoin is the only coin!

I think dogecoin is used only for speculations to gain short term profit, so it won't have long term value.

at the moment DOGE is profitable

I think DogeCoin need a leap of faith.  Hey, look at Bitcoin when it is launched, everybody was laughing at it.  
And now, people jumping crazily into it.  What does this tell you?  It is being recognized and the value have went up almost 1000 times.

Bitcoin will be still around for a long time.  But you got to understand, Bitcoin is limited in quantity and limited quantity of 21 millions to be mine.
But Dogecoin is not. Even now, Dogecoin is growing in value slowly.  In a few years time, it will be a small brother of Bitcoin.  
There are different currencies in the world, I think there will be also different Altcoin as well.

Look at the financial crisis of 2008, Feds created or printed One Trillion dollars out of thin air because it is a Patrol Dollar.
And everybody is accepting it. Why can't it be Dogecoin?  And Dogecoin depend on Supply and Demand too.

As long as Dogecoin is stable and dependable usages for commerce, it will remind.

Well I tend to agree everything tends to look like a joke until it really catches fire

you might wanna consider also horsecoins.

not

I'd prefer mylittleponycoin. Friendship is magic, dontchaknow
http://kickfailure.com/wp-content/uploads/2013/03/mlp_coin_luna.jpg

dogecoin has a limit of 100 billion coins. Just because it is a bigger number doesn't make it have any less or more meaning towards the worth of a coin. In fact, without these limits, just as you said, money will just be printed out of thin air. So I ask you, what makes any new alt coin different then the fed introducing more money? There is suddenly a new cap to the entire crypto coin market. With each new coin made, the total cap of currency (even though it is of multiple kinds) has increased. The only way a coin is really worth anything is it's value to the holders, it's value to potential buyers, and its ability to be exchanged. Dogecoin effectively made a new cap on the market for "value". What makes dogecoin any better than the Federal Reserve?

I think a more apt question is Will Dogecoin users ever be more than a joke?

http://www.businessinsider.com/dogecoin-is-a-big-deal-2013-12

dogecoin is a big deal apparently

They forgot to explain why it's a big deal.

The comparison to how many fiat currencies there are in the world kind of overlooks the fact that most of those currencies are backed by troops / armed police.

Not foreign mercenary troops either but native troops.

Not migrant swarms of troops that fly over to whichever nation offers them the biggest bounty that hour or day...

-MarkM-

dogecoin is already losing popularity , no one will ever take a memecoin seriously .

So how do these troops prevent inflation?

I understand the concept of there being an established state behind most currencies and that is what gives them their value. What it doesn't stop is inflation by the state. Look at Germany in WW2. Their inflation was insane. Simply having troops does not protect you from inflation.

Actually the wonder of these crypto currencies is you don't have to look at the state backing the currency to wonder if it will have future value. The value is inherent in the system as long as there is still supply and demand moving it around in the system. Creating new systems adds total currency to the world, but it devalues other currencies as it takes patrons or value from their systems.

so it fits in perfectly with the rest of this forum  ;D

lol fiat currency

https://i.imgur.com/lpALN7fl.jpg

Thanks for the reply. I do understand quite well the advantages of a crypto coin, or any online digital currency and I think those merits are certainly admirable and nice to have. However, fundamentally, with all cryptocoins, you essentially require:

1) Widespread adoption by a critical mass of people before it can become worth anything. Your online wallet can tell you that you have millions of BTC or any other alt coin but it isn't worth a damn till you have buy in from a large number of people. That's why coins have to be marketed so aggressively and if I own a large amount of any alt coin, it is in my interest to have as many other people I know adopt the coin. This ends up being very much like a MLM/Pyramid scheme. To become rich, you need people below you to buy into the system.

2) The entire concept of mining using computational power seems pretty dumb imho, especially when combined with the fact that early adopters are the ones who stand to make out like bandits when it comes to any cryptocurrency. So someone with a 100+ GPUs chained together ends up becoming top dog and a "millionaire" just because he/she spent resources on a crazy rig that is of no other use than to mine coins, something that contributes zero to society as a whole. At least with "Ripple" there is a noble idea behind the concept...donating the computational power to science rather than wasting untold amounts of power and computational resources on pointless calculations.

3) Freemarket - That's a very very shaky argument when it comes to crypto currencies. Any currency that is seeing 50+% swings in value is really not very free market, and certainly all cryptocurrencies, including BTC are susceptible to a lot of shady tactics in the market place. And when you have reports like this - http://bitcoinexaminer.org/small-group-of-47-people-owns-almost-30-percent-of-all-bitcoins/, it is all the more concerning how any currency like BTC can be a great model, or considered to be operating under free market principles. In reality, it is at the mercy of a select few people and with the rise of ASIC mining and the threat of 51% attacks, it only makes the entire situation more concerning.

Cryptocurrencies are certainly intriguing and I like a lot of things about them, but points 1 & 2 are a massive concern for me. For all the proclamations of how anti-establishment cryptocurrencies are, they divide people even more into the rich and poor, where the rich are the blessed people with massive mining rigs who pointed their rigs at mining cryptocurrencies right when they were announced.... which is pretty ridiculous.

Is it true that the only thing that sells more/better than humour is sex?

If so presumably to be more than a joke it will want to be a sex thing of some kind?

-MarkM-

s/troops/miners/g ; s/armed/equipped with ASICs, FPGAs, GPUs, etc: hashing power aka force of the type suited to the analogy aka arena/g

In other words no coin is safe if it does not have sufficient dedicated mining power, of its own not gangbangers from what chain to rape this hour type pools etc.

-MarkM-

Kind of like that Korean guy that sang "She Bangs", hot for 2 or 3 years, where is he now....LOL.....Doge is fun, but in the long run, the more serious coins will prevail.....

You're absolutely right, but only if making USD were the reason for the system to exist. Again, I feel you're looking at this from the perspective of "how can I make money from this?," instead of, "why should I use BTC in the first place?" To touch on your third point, this is exactly the reason why we are seeing such high volatility of value -there are far too many "investors" with that mindset. After hearing any given news broadcast, the average person is not walking away thinking about the core fundamentals of Bitcoin and its potential, but rather the capacity for financial gain (or the missed opportunity had they bought when they first heard about it) and always in the context of USD.

This isn't the case at all. As long as one that is willing to give it up in exchange with another that is willing to accept it, whether it is a niche market of 5 people, or 5 billion people, actual market size does not necessarily matter as it operates within the confines of that one exclusively mutual and direct relationship. To be clear, demand and fungibility still have an impact on the value, but it doesn't require adoption on a global scale -even if it only exists within a small closed loop market, it still retains some level of worth (the online drug trade could be considered such a market). The only time actual mass of quantity consumption matters, and aggressive marketing is needed in these cases, are for pump & dump trends. The challenge being, we can't exactly know for a certainty which is such a scheme until it is too late ..of course, research and some common sense can help one avoid them.

Yes, of course it would be in your special interest for that to happen, but because it shares that characteristic of a pyramid scheme doesn't mean that it must be one. If I hold 100 shares of Google, it is in my interest for many others then to buy up more Google stock and increase the value of my own assets.

On the topic of mining, it was never meant to be the manner of acquisition for most people. It was simply a means of both distributing the coin into the market by a commitment of 'work' and securing the network. In any scenario, be it financial or any other opportunistic situation, some will have a privileged path while others will not. #factsoflife. But you are also calling out the people who have risked the most ..should they not have a proportionally greater reward? The use of computational power to both mint coins and secure the network is rather clever as the cryptography the protocol is built upon can't be feigned, it is un-biased, verifiable and fair.

The crazy volatility that we are seeing will continue so long as the market remains predominately saturated with speculators. This will not continue, however, as merchants begin accepting cryptocurrencies and their use becomes a means of trade for goods and services as opposed to taking profits in USD. At this time the price of BTC, or more importantly, the purchasing power of it will then be dictated within the free market. That is why merchants ought to be the primary focus of crypto gospel efforts more than other 'investors'.

Guys, I made an analysis of DOGE. Hope it will be interesting for you!

http://www.cryptobang.com/2014/08/25/all-the-truth-about-doge/

Doge is an asshole meme  :P , a coin that has no innovation. Why people buy doge? I have some just for fun.  ;D