Bitcoin Forum

Here's an article about the implications of this recent change to Dogecoin.  I think this is a huge time for Dogecoin.

http://www.thedailycrypto.com/2014/02/dogecoin-no-longer-at-fixed-cap.html

So was DOGE forked by the US Federal Reserve?

dogecoin will be used as an actual currency instead of a store of wealth

 

Bunch of amateurs changing variables at a whim... What's next?

eMunie.

 Doge's founding principals was not intended to be a currency, instead, a get rich quick scheme. This is the ideology of Doge, for that reason it will be tainted forever.

lel...

nothing was changed the code was like that from the start

it was just decided to not cap the coin and leave the inflation

Yeah but 10k/block arent that much coins, it will take 19 years to double the amount.

I just can't wrap my head around the success  of this coin.

Not that there is anything wrong that. Good on the community for their success.

But wow, I guess I'll never underestimate the power of good marketing ever again.

it seems like doge's creators are thinking of the future and making a run at having this currency actually last and to be able to widely use it.

It's almost like watching a 14 year old kids joke turning into a million dollars and then them blowing it.  Doge was a joke that somehow worked, maybe because it didn't take itself seriously, and now they do this?  Ben Bernanke leaves Fed and infiltrates Doge development team!

There is no "problem" with bitcoin. The problem was with fiat money to begin with and bitcoin fixed it. Dogecoin now emulates the same problematic money pattern of fiat currency. Tell me a good reason why anyone would keep their money in something that will lose value due to inflation, instead of something that is going up in value due to rarity and increased demand/limited supply.

Only two things are infinite, the universe and human stupidity, and I'm not sure about the former.

Albert Einstein

Nothing was changed in source code. It was always set to mine 10,000 coins per block after 600,000 blocks. It actually makes it more viable coin in terms of longetivity. Do your research before you troll. Oh... and by the way do you ever support any coins other than you launch. Readers look at his history. He launched flashcoin about half a year ago. The coin died in less than a week.

A nice article explaining dogecoin's strategy where bitcoin will fail.

http://www.businessinsider.com.au/dogecoin-just-solved-a-problem-bitcoin-will-face-2014-2

Other worth mentioning facts about dogecoin:
1. Higher network hashrate than litecoin, making it most secured scrypt coin in the world.
2. Second biggest community of anycoin, only after bitcoin. See their reddit sub with 55k subscribers.
3. Very efficient marketing. In media every day.

The thing you people need to realize is while the coin might not be capped anymore, the currency is very weakly inflationary as t-> infinity.
It is not a percent inflation, but rather a fixed amount of coins and in the future (number of new coins per year)/(total numbers of coins) goes to zero. If you include loss of coins it might even become deflationary if it becomes widely used and the monetary base is big enough.

In the end this change probably won't affect much at all (and might actually be a good idea to replace lost coins).

Wow very dilution coin. Guaranteed lose value every block. Dilution is new feature.

only someone who didnt know how money worked would say this...

This is all experiment. I don't think anyone can really tell the ultimate result as of now.

So maybe we should have many ASIC-friendly (repeat: ASIC-friendly) scrypt coins with billions of coins in supply like dogecoin and see what is going to happen.

Anyone can verify this? I think it is good to sell doge now very risky.

Still a lot people see BitCoin only as a thing to invest in ("it's going to be very rare, so I keep it").

Someone with better english skills need to explain, that a currency that get's rarer and rarer cannot be used by millions of people. A _currency_ needs to circulate, not stay in wallets.

So a currency _without_ inflation will always be seen like a resource: buy it, stock it, keep it.

*I am not saying, DOGE is the best/whatever coin, I don't have an idea about the future of DOGE.

Naysayers have one thing in common; they all are imagining a closed scenario with relatively few players present. Rather, think of the exponential involved when it becomes picked up by 10, 20, 50 000 people at once. The Olympics will create news coverage. Developing countries will prefer the lower cost, hell, we all will. This coin is entering the collective 'nousphere', at least for a short time, and that may be all there is to it, I'm afraid.

The steady production of doge to infinity is nothing compared to the rampant and baseless production of currency by every freaking central bank there is. This means that no matter how 'austere' the fiat markets become, doge will remain relatively deflationary.

they are three now, with doge lol

im glad i saved some coin.  8)

It is only speculation what the future holds for doge with an unlimited ceiling. There are good arguments on both sides of the fence. One thing is for sure come tomorrow (or the next day depending on where you live) when the 2014 Olympics start there will be HUGE media coverage of dogecoin.

Future or not it would be highly advised to either buy or hold what dogecoin you have because the price is going to skyrocket.

Good news for Doge, shame the person that did the article over estimated bitcoins total amount >.< seems like we get somewhat uneducated people writing these posts which is kind of annoying >.<

anyway well done Doge!

congratulations! To the moon!!  ;D ;D

Whoever created that post needs to learn to spell especially if they are trying to get a point across. Your statement "dogecoin will never be used as a real currency" falls into all cryptos at the moment. None of them are real currency :P. Regardless I just bet my left boob on doge. I am either going to bank like mad in the coming days or take the next 10 years to pay off all my creditcards I just maxed on VirWox. Not to mention their ridiculous fees.

I believe it will pay out. At least in the short term!

Dogecoin seems to have their strategy for long term success just about perfect. One of the more interesting things I've noticed since the announcement on Sunday is that a number of places that are usually very anti bitcoin are much more receptive to a crypto currency that is managed in a similar way to actual money. 

One of my favourite comments came from the Ars Technica article:

'I am confused by the combination of (1) serious economic strategies meant to make this a viable currency long-term, and (2) the fact that it's named after a shiba inu internet meme. '

I don't think the Dogecoin team need the support of gold bugs, bitcoin obsessives and financial collapse doom mongers that only care about having a deflationary hoard.  These people represent a tiny fraction of the populace.  Bitcoin may have 2 million users (generous upper estimate), Facebook has over 1 billion. 

It's quite interesting how old news becomes new news. In two-three month this cycle is going to occure again.

ah, so your post had a huge agenda. You run the site. Check the spelling on that post :). It is not crazy to buy 20BTC with dogecoin at all. I have close to $15,000USD dumped into doge atm. I will drip the sell orders as not to cause any type of major dip like some jerk ass's do. I don't want to mention what exchange I use but I find it fantastic. Buy orders can get a little annoying when day trading and there are some quirky bugs with sessions but overall I trust it enough.

You do need patience in such a volatile market. When testing doge/btc I was mad when I bought at 150 and watched it sink to 130 with only 1 BTC a few days ago. I never let my emotions get involved and just held my sell order and eventually it let go. I wanted away from doge until I did some massive research on it and found out that dogecoin helped Jamaican Bobsledders get to the Olympics.

That will be mentioned at the Olympics for sure. Anyone that trades on any other markets knows what happens with huge positive media coverage applicable to what they are trading.

I think there will be overnight millionairs when it peaks. The bubble will burst and doge will settle but never at what it is trading now. These will be the good ol days.

This is just my opinion based on my research and not financial advise. if you cannot afford doge don't buy into it. If you have some capital to invest go for it.

Oh, your concerns are completely valid and there are many more. Regardless the opportunity to trade is here in our face. Play it smart and fast. I don't keep any of my coins idle on a market unless I am sitting in front of it or it happened to be a bad sell order. I lose on tx fees but I would rather lose that than an entire wallets worth.

I like doge. I didn't at first but I see value in it. Regardless of face value

Did you know that Einstein actually never said that ?  ::)

what a provocation! what is the max supply will be if not 100 billions?

I actually prefer infinite then fixed, cause you don't want the miners to stop mining it :)

but we already have feds to thank that

I thought infinite currency  was trademark by us dollars.

dogecoin dont need Iran oil  ;D

I hope someone holding billions of doge will show you how to dump it in one day to 1 satoshi...

Like others have said, this is a problem that Bitcoin is likely to face that Dogecoin has already solved.

i would be upset if a coin i invested in was marketed in the beginning with lines like 'soon all will be mined' an such and then at a sudden it is infinite.
Don't the holders feel screwed, scammed, betrayed a bit? I certainly would and am happy now i didn't buy any.
If you want money for circulation buy freicoin. At least the logo is not so stupid and the devs knew before they  started what they wanted - inflation or deflation.

So investors are at the merci of the devs who can decide to switch from inflation to deflation again and back and forth as much as they want since everything is an experiment anyways? Looks very amateur to me.
Sudden changes like this upset people and drive them away from crypto all together since the investor doesn't know what will be changed next. Coins that change the rules in the middle of the game? Are you serious? Is this how you build trust?
Devs should have released a new coin instead of making that dramatic changes. What would you say if btc no longer was capped? rofl. Well screwed up.

So essentially hoarding doge now became pointless since it is now infinite and you can always mine as many as you need. Poor bagholders.

The deflation of btc and other crypto makes it an excellent store of value. If you want inflation pump USD. It is already fully adopted and accepted all around the world also less volatile. USD is in that sense far better than doge. May i ask what advantages does doge have over usd and/or other crypto now? Is it the in-between-undecided-joke-coin for the clueless? Admit it already. We'll see it fade out as soon the meme has worn out, i am sure.   I just hope the damage for the reputation for crypto in general can be contained to some degree. Doge dies the second the marketing stops. That is more ponzi than any other crypto, i think.

I wonder how long it takes for the long-term-guys to realize that their investment has been devalued and how high the dead cat will bounce.

are you not paying attention to anything? dogecoin will be used as a currency not a speculative asset like gold or bitcoin, no one lied to anyone from the moment the coin launched it was on the code that after block 600,000 it would always be 10,000 coins, you must be delusional if you think you can "mine as many as you need" once we reach 10,000 coins per block, dogecoin growth will continue as block rewards lower meaning higher value.

70% of bitcoins have never even spent how do you expect bitcoin to ever be a currency when no one spends their money?

even with the 5% inflation (which lowers (coin wise) ever year due to it being fixed) the value of this coin will rise, not because its a deflationary asset but because of the GROWTH this coin will continue to get, litecoin and bitcoin bagholders are just scared of any true competition which is why they have released the hounds on dogecoin, quite sad really.

yeah, bitcoin is less of a currency and more a store of value like gold. Doge is then less like gold and more like usd. I am fine with that since i don't have doge. Since the long-term-hoarding-aspect has been made pointless some fallout of early investers should be expected at rising prices i think, but don't really care that much about it. I still believe in freicoin.

Store of value, IPO, investors, sell high & buy low; all these terms...

Where's the currency aspect in the word crypto-currency with all these BS terms flying around? Might as well have called most of these crypto-stocks.

Seems to me that the Dogecoin community is about the only ones poised to have the first actual crypto-currency on a massive scale; and yet we have people spreading FUD about how a 5% inflation in the first year and a diminishing % of inflation every year after is somehow a bad thing and how it will kill Dogecoin value.

Let me let you in on a little secret; the Dogecoin community is the one who gives Dogecoin it's value, and they have an incredibly strong community in the 2 short months since it's inception. So strong in fact that when everyone else is screaming bloody murder over this issue, they're mining away and telling their fellow "Shibes" to hold. Any other coin would have long since died with the type of attacks Dogecoin gets from users on these forums.

Dogecoin may not be the crypto-currency you use to buy your next house or car directly with, but it's a damn good start to getting there.