Bitcoin Forum

is DOGE dying off or is it just hitting a low?

DOGE is a doggone.

It's super profitable to mine Doge right now so there's a huge increase in supply that can't keep up with the demand.

What a nice way of saying there are no buyers. No need to sugar coat it. Its NOT profitable ANYMORE. The truth is no one wants the doggy anymore.
No one throwing the doggy a bone anymore... Awww sad puppy.

Doge recently is very easy to mine so everyone is mining and selling but they are not thinking about doge in tomorrow but whoever is buying in this price they will be making a lot profit. when mining will be little hard then Doge will rise up.Now there ois more supply and less demand so price is going down but when mining becomes little hard and supply will be little tight then price will move to atleast 10-20XI think you are a bit far from market. can you check the buy orders of DOGE? there are 100s of bitcoin in buy order. just the thing is now price os going lower for high supply

The smart money has now moved onto the next pump & dump.
Only bag holders left now.  :D

Sell you fools, for i am going to buy your doge !  8)

My honest advice to you is: Don't try to catch a falling knife.
Just because it is cheaper now than it has been before. Doesn't mean it will go back up to previous highs.

Also to everyone saying higher difficulty == higher price:
I'm sorry, the price is not a purely a function of difficulty.

It was overpriced. Compare it to DeVCoin, it mints way more coins than DeVCoin.

It will likely drop in price to 30 satoshis or lower like DeVCoin has tended again and again to do.

-MarkM-

If I were a newbie in trade and also was intended to stay on this forum... well for reasonable amount of time I would take all the "expert's" advices and print them on a special piece of paper. After about 6 months I would be more or less clear about the value of the posters.

Good idea.

DOGE is hopefully a little different from most crapcoins because by whatever means or reasoning it managed to get listed by Vircurex.

Vircurex hasn't dropped Feathercoin nor Worldcoin despite their pathetic hashing power that was way less than DOGE's so chances don't seem high that they will drop DOGE, maybe even if its difficulty drops as low as those other two "also ran" scrypt coins. Unfortunately.

(I would prefer they dropped one such coin when adding another, e.g. drop the lowest difficulty scrypt coin that they had listed when they added DOGE, but it doesn't seem to be happening. Lets hope they don't keep adding every crapcoin that happens to momentarily get more hashing power or volume (or both) than those they already have, or at least not without dropping some of the even crappier ones.)

Unfortunately if the other coins listed at Vircurex aren't to get tainted by association it looks like they are going to have to try to provide support for DOGE just to try not to have the entire exchange get a rep as just yet another scam-of-the-day exchange tainting the rep of all the other coins listed.

So chances seem reasonable that it will go up and down over time much like DeVCoin has done.

Maybe not though, afterall I admit I never was tempted to try to support Feathercoin nor Worldcoin just because my coins had to associate with them; instead I just kept hoping they would get de-listed...

But even if they do at last finally get de-listed DOGE would presumably be the last to go if it manages not to drop down below them in difficulty and volume.

It will be interesting too see whether DOGE is just another gang-banged crapcoin or actually has enough dedicated hashing power of its own even without the fly by night gangbangers to maintain its difficulty higher than those other two "also ran" scrypt coins.

-MarkM-

Looks more like an afraid litecoiner  ;D

Well, i'm keeping my DOGE for a while. Just to see what happens. I sold all my TIPS though. ;)

....
It will be interesting too see whether DOGE is just another gang-banged crapcoin or actually has enough dedicated hashing power of its own even without the fly by night gangbangers to maintain its difficulty higher than those other two "also ran" scrypt coins.

-MarkM-

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Yep. As I'm not interested in the subject (do not have this coins) will have all my pleasure to watch how the situation will develop. It is now the first point - will doge be able to get rid of the "birth trauma" viz. miners and their primitive speculative accumulations. The other side of the coin is that doge can die due to bag holders, I mean it can possibly lead to the situation when critical amount of dead holds at the hands of the suckers (who can possibly become a winners) and miners who are both waiting to the miraculous rise of the cryptocurrency value which will not happen in shot terms BY ALL MEANS will lead to critical reduce of feedback. But, want to repeat - personally not in the game, my interest is for now purely "academic"  :)

I stopped mining doge. I was selling all I was mining, but price is dropping so fast I just switched to a more profitable coin.

It will be very amusing to manipulate miners in the nearest future. Now it is not serious until even "pre-announce" of new shit making *000 people with worth *000 - *00 dollars equipment run to marked path.

Talk about the markets and facts, don't presume to know anything about me or what I mine.
I mine what is profitable. I have zero loyalty to any coin. And my feelings are not hurt if someone
trash talks a coin I mine. I just don't care. I'm in it for the $.

I'm sorry if a smack of reality hurts your feelings. But your precious doge appears to have had its time in the lime light. Its time to move on.
Or you can just stay attached to the coin for whatever bizarre reason you may have. Cut your losses. Don't hold onto a loser. Move on.

Why you even write in this thread if you don't care??!! Makes no sense.

And btw, multipool.us mined DOGE the whole day, until two hours ago. So your profitablity calculation isn't very good, bro.

http://abload.de/img/dogeallday4kqdu.png


Now show your bullshit facts.

The OP asked for an opinion on DOGE. I'm giving my opinion. If you don't like my opinion. Ignore it.

Your image is really meaningless, all it shows is that multipool chose to mine DOGE. Multipool is not representative of the entire universe of miners out there.
What percentage of miner's does it represent? What demographic of miners does it represent. What correlation is there if any between the price of a coin and it being mined on multipool? Does it rise or fall? You conveniently choose to ignore all of that.

Let's look at something which is better at representing the OVERALL state of DOGE not just what multipool is doing:
http://imageshack.com/a/img27/3269/1y3h.png

The price is falling & the total network hashrate is falling. Those are the facts.
You can draw whatever conclusion you want from that. Mine what you want, its your hardware and you pay the electricity bill.

In cases where the price is to a large extent driven by multipools which mine the most profitable coin and then immediately sell this coin for bitcoins, then the price is not purely function of difficulty, but in the end the difficulty and price are sort of influencing each other very strongly. Even slight price change down will cause these miners to mine something else, lowering diff, then the supply will lower and price will rise again close to the original value. Price change upwards (someone suddenly buys ton of DOGE) will cause miners to shift to DOGE, temporarily mining more (and pushing price down and the diff up) until the diff adjusts.

So it is more like diff is function of price, with some delay.

Let me get this straight..the multipools are driving down the cost of Doge?

Well said. I agree. Price & difficulty are related and influence each other; this relationship is strongest in coins which have little outside influence. Other coins such as bitcoin, is more impacted by acceptance or rejection of it in the real world. For example, the recent crash due to China policy changes.

Price and difficulty are related, but its not a closed system, there are other factors.

At current prices (0.00000031btc), the 500,000 per 1 min block mining supply, needs each day 223.2 of BTC demand to match that supply, each and every day to at least maintain that price. Some motivated buyers will have to come into the market to bid up the price. Given that approx 20bn of the 100bn coins have been mined, and the decline in price, it makes sense for miner to sell any stock produced while difficulty was higher into the market as soon as possible. Mining difficulty is already reducing thus maintaining the profitability of the coin at these lower prices as for each Hash the payout in coins is approx double that a few weeks ago when difficulty was higher. If you buy coins you need to understand the supply side, and you will see that the features of this coin will ensure that it will go below 0.00000010. Try doing a scatter plot of the price of each script coin in btc vs the daily supply and you will find that you can determine coins that are over/under valued.