Bitcoin Forum

I've got a couple hundred thousand Dogecoins from purchases and I'm looking to put together a cheap rig for some mining. Thoughts on the viability of the coin? I like it because it's easy to get into so far and it's fun. It's also getting really popular, probably because of the meme itself.

For now I only trust the original BitCoin, alt-coins are risky. If I had an offer to be paid in alt-coins I would ask for BTC instead.

tough to say. I mine Primecoin and in multipool.. Everything gets traded into BTC eventually.

Multipool has been on DOGE for a while now. I have a very small mining operation just dorking around with all this.

Maybe making $50 bucks a week right now.

I was considering trading my dogecoins for bitcoin but I'm guessing I won't get enough bitcoin to make it worthwhile.

But even if you have a small amount of a Bitcoin, the value will still be there, how many Dogecoins do you have? I traded in over 450,000 in the last week.

I sold Doge for $500 USD in 2 weeks by starting very early. It was awesome. Those are my thoughts on Dogecoin.  ;D

As for it's future, I have a feeling it will have run it's course after a few months. I think it will still go up a bit for a while, but eventually plummet and stay there. I hope I'm wrong.

Which says all. I understand that altcoins are attractive for early adopters because of mining. However I'm not interested in mining at all. Note that altcoins may suffer from 51% attacks (a few altcoins have been brought down this way), price manipulation by huge stack posessors, and also design flaws (now everyone and their dog thinks he can design another cryptocurrency...).

QuantumScript I guess you are new to this "fantastic" world, or a puppet to spam doge even at christmas? no idea

Anyway, doge is a "pump and dump" coin, it goes like this:
1) mine the shit out of it when diff is very low
2) spam the board, give away and shit like that
3) continue hype, start selling small amount to show that there is a market
4) continue to sell at ridiculous prices, exchanging it for BTC (which is the final goal)
5) create another coin and start for 1

Don't get caught, spend your FIAT on serious coins, and I suggest you buy coins rather than a mining rigs
It will be really difficult to ROI unless you join the doge-like system

I think Doge has caught on a bit..is floating on marketing right now..the momentum should continue for few more months i think..then, who knows?

Puppy Dumpy.  ;D

Trade your doge coins for kitteh coins (or cat coins).  Yes I'm serious, they actually exist!

I still think it has some momentum to run up to around .000005 by the pumpers. Dogecoin has gotten more press than other alts, so methinks once it wears off it won't be as valuable anymore.

I just got myself a couple 100,000 Dogecoins, I'd say hold onto them for now. All the attention they're getting is raising their worth.

I think they're a silly joke. Right now they have a lot of attention because of the internet meme, but as soon as that dies down a bit its going to go back into altcoin hell. Most alt coins will never ever go anywhere. They receive some hype when they come out and die some time afterwards. There's short term profit to be made in trading them off while they're worth something, but long term they're worthless.

Sell dogecoins high for BTC and move onto Kitteh or cat coins.

Maybe there are a few weeks left but it will join the rest eventually.
Don't hold into it for much longer, it is worthless :-)

not worth anything at all !!

I feel like the doge coin will continue to grow for a month at the very least, possibly more. I see doge almost everywhere, people love them some doge and I feel like that will push this coin for quite some time. Yeah it's a meme and memes come and go, but this one seems like it's got a bit more umph to it. Hang on to those coins for a bit longer before cashing out imo~

I think it's going places. I have 48k saved up

How do you mine them?

Normally I would agree with e521, he has described textbook pump and dump.  The only thing that seems different with DOGE is that it has built such a quick infrastructure.  Compared to the other alt coins only LTC seems to have a similar range of uses.  DOGE had lots of threads was on an exchange, (and it's now on vircurex) and doge-dice is a clone of a very popular dice site.  This makes me think the coin may have some staying power.

Not sure I would buy it, but having lots of nothing is fun, and the coin does have the benefit of not taking itself too seriously.  The fact that it has dropped and then bounced back relative to BTC is also encouraging.

Good Luck!

Need help in mining these things

DOGE is one of the cheapest coins right now, buy and forget, harvest after 1 or so year

sounds interesting, more like a gimick or a fun type of coin, wouldnt mind picking some up, you never know these days

As someone who sincerely desires cryptocurrencies to stabilize, become a steady medium of exchange for common people, and not be considered a joke to the comman man, I find doge coins antithetical to my goals. It reaks of a pump and dump and the whole basis is a joke.

Don't get me wrong, I like my LOLcats on occasion. but I think this crypto movement is intentional and doge goes in another direction entirely.

First, I think it's a bit ridiculous that newbies are restricted to this section. 
Now that I've gotten that out of the way...

I mined over a million of these in one night a week after it was released and dumped them the next day for 1/5th what they sold for a week later.  I continued mining these for a week and made about 2 bitcoins worth out of them through trade, even though most of my trades were nowhere near the peak. 

It is still the most valuable scrypt coin to mine.  Having said all that, there are going to be 100 billion of them and 13 billion have already been mined.

It's like saying grass is going to be valuable in the long run.  They would have to completely capture the entire retail commerce section that bitcoin already has - and no serious person is going to exchange a large item of value for a meme based coin that offers nothing that 100 other alt coins before it have offered besides ubiquity and cuteness.  Those are not things that long term value is built on. 

It is cute, it may have a place as a reddit tipping item or make its way into some other form of minor online currency for other cutesy things like a payment system for the countless casual MMOs and pay to play dress up games that exist online.  It's viability as a competitor to Bitcoin or even Litecoin is severely limited. 

As all fads, it will burn itself out in time.  Don't waste your time spending money to mine it.  I don't think there will be another push about 0.000002 BTC ever.  It will probably end up around 1/10 that. 

@Topshibedoge so now you are probably looking for some Catcoins ;D anyways well played ! Feel free to message me.

Dogecoin is here to stay, though I wouldn't expect price going up substantially in near future. Sure, it doesn't offer considerable technological advantage over other forks, but just being an embodiment of such a meme could very well be enough to keep it going along. Having a huge imageboards' background myself, I look forward to cryptocurrency like that, which is able to combine fun and profit in a great way.

Any links to this "attention"?
I've heard about them over here in Belgium when bitcoin went down a lot, dogecoin went up.
Yesterday I did notice kind of the same, Bitcoin came down +/- 100$ and doge went up 50%
I'm not sure why this is though

If you've never actually heard of "Doge" itself, I believe a quick google search would do. Also, you can read more about its origins here: http://knowyourmeme.com/memes/doge

How do I buy this and store.

is there even a market for this coin? i dont think anybody is selling stuff for dogecoin..

DoggyStyle Coins  ;D

I kinda like them, so i'm setting up a miner right now. Only getting 3.17 khash/s so i might be doing something wrong :) But i'm hoping that i will fix it.