Bitcoin Forum

If Bitcoin is destined for high finance (and litecoin destined for major purchases like cars, fridges and computers), odds are that one or more of the other crytocurrencies will prevail for routine expenditure (groceries, coffee, fuel).

I predict Dogecoin has the potential to become much more than the leading tipping currency. I do not know this as a matter of fact of course, but I reasonably believe it entirely possible that Dogecoin is a major contender within the next 3-5 years for the following reasons:

1. Highly developed community
2. Huge investment potential (you can buy half a million doge for about $150 dollars at the moment)
3. Superb architecture
4. Straightforward wallet security in terms of encryption and wallet locking
5. Massive reputation as a major cryptocurrency

Of course there are other contenders. And of course, there are people with vested interests in other currencies who may react angrily (I admit I hold interests in Dogecoin which may well have affected my objectivity).

But this is my very feeling. Much responses. ::)

all the alts will die eventually, bitcoin is better than all of them.

Nope.

It's possible, but I don't have a lot of confidence in it right this second. Really it needs more investors and a lot of retailers willing to accept it in their ecommerce sites and hold on to it for a while (and we all know retailers are all about the cash flow).

Edit: I just checked on Mintpal. Looks like there's been some upward movement with Dogecoin.

My Siberian will eat your shiba inu as a snack.

http://images.shibashake.com/wp-content/blogs.dir/7/files/2010/03/IMG_1232.jpg

Certainly Doge has gone up but only for a small bit, there are a long way to get back to the good "old" daays where Doge was worth a lot more. It might come again, who knows - we can hope  :)

I know doge meme is fun and cute, but will be hard for the commerce people take this seriously:

http://static6.businessinsider.com/image/52f1082c6da81175665a762c-1200/welcome-doge-has-you-covered.jpg

Can you imagine a think like this in the dollar cedules, or in the Visa baner? Doge was meant to be a joke, he already gone way far away than anyone could expect, and I think it will be really hard advance even more.


For me the only true inovation can make one coin survive, since the comunity alone  sooner or later will get tired and move along

Entirely possible.

Back on topic, I do not know the facts. Nor do I have an adequate grasp (of the facts) to claim special insight or knowledge.

 On the contrary, I like doges because they are relatively inexpensive at the moment and could go ballastic in a year or so. As good a chance as any other crypto (based on my current knowledge or lack thereof).

If I could afford bitcoin or litecoin, sure I would get me some. Looking at Ripples at the moment as a further alternative.

Thanks for the responses  :-*

dogecoin is a poorly coded joke that's coming to a end.

My thinking is that there will be a lot of viable and useful alt-coins, but I worry a little about them getting big too soon and taking attention/credibility from bitcoin.

What I mean is that Bitcoin is what the mainstream hears about and I think it's best if we keep it that way for a while just for the psychology of it.

One of the main arguments I get when talking to others about bitcoin is that they think there will be some other competitor that will take its place. At this point that's an almost laughable idea. I don't mean that I think bitcoin will forever be the currency of choice, but I do think it will be around for a long long time as a foundational part of cryptocurrency. It may even become like gold in that hardly anyone transacts in it, but it still backs many transactions.

I think all of us want cryptocurrencies to flourish, and I think the best way for that to happen is to back the big one first. After people get used to the idea of truly digital money, then introduce them to alternatives.

BTW I'm a Doge fan and hope it succeeds.

Cryptocurrencies of whatever flavour are the very antithesis of what the "commerce people" as you call them, approve or understand. It is an out of context situation for them, but like it or not, this is the next stage in the evolution of money. It does not really matter what flavour of cryptocurrency gains the greatest popularity. The point is that it has happened and this genie is not going back into the bottle. The inventors of bitcoin were on any view exceptionally brilliant (solving the trust problem with blockchain mathematics). This marks the end of banking as we have come to understand it. The fact dogecoin began as a joke is a perfect and most welcome antithesis to the joke that serious (commerce people) banking became.

Since the gold standard disappeared, money became an abstraction...an idea. You could run out of gold or copper or coal, but you could not ever run out of money if all that had to happen was for central banks to press a button and create a new tranche of it through 'quantitative easing'.

Crytocurrencies are the cure. The 'commerce people' (those who find it inconceivable dogecoin might prosper) are the problem cryptocurrencies were intended to overcome. That was the intention and it has been the effect.

There will only ever be one bitcoin but there is still a need for other less august currencies that can be used by ordinary people. TO THE MOON!

Considering its features, not better than Nxt.

You're talking out your ass and you know it. There are several alts that are better than bitcoin in many ways. Bitcoin is just the first and has the best development team (I.E. everybody that counts in crypto)

Best? Well, there are many talented developers out there. They do not deserve to be called second-best.

That's an interesting thought, bitcoin is to rare to be used as a global currency, litecoin has more coins so it's easier to pay like 20 LTC for a TV instead of 0.4232103 BTC that's just awkward. BTC might indeed become something like gold.

But we were talking about doge right? I might buy some doge.

These doges halvings are killing doge...now it such low value and reward mining is unprofitable, and network will get weaker, and easier to suffer attacks and stuff.

But the meme is fun

Every time a new Dodgecoin block is found, God kills a kitten.

there are no alts today that are significantly better than bitcoin.
bitcoin's adoption is higher than all the alts combined, there is no reason today to use anything but bitcoin.

Actually NXT is better in every way imaginable. Fact

what benefits does NXT offer over bitcoin?

None. PoS is proven not to work in long-term.

doge is going to an end,nobody can stop it.what a tragedy

Certainty like that must come at great cost. You must have spent a great deal of time and expended enormous effort to have reached the conclusion you have reached with such absolute certainty.

Accordingly, in the spirit of academic generosity that characterises this fine website, I should be grateful if you would share, not your conclusion as you have already and most kindly done, but the methodology and course of analysis that led you to predict and determine with such admirable finality the future of dogecoin.

The entire purpose of knowledge and intelligence is to predict the future. I greatly admire your certain predictions and await with eager anticipation full details of the data and methodology you have so skillfully deployed to arrive at it.

The great American physicist Richard Feynmann once said that he knew very few things with certainty, and that the very few things he really knew with certainty had come at great personal cost to him (in terms of time and effort).

We respectfully await full details - data and methodology please.

Dogecoin is worthless, why you may ask?

It has an exponential amount of inflation, and theoretically, there is an unlimited amount of Dogecoin, with 5billion mined every year....forever.

Because of that, Dogecoin's real value is zero, nada, nothing, worthless.

Your argument is invalid because if it were correct, all Fiat currencies would also be worthless. The Federal Reserve creates Billions of dollars every year by means of quantitative easing, that is to say, someone presses a button and billions of dollars appear from the ether. Ex nihilo totem fit (from nothing everthing come, ex contrario the classically accepted maxim that from nothing, nothing comes [ex nihilo, nihil fit]).

Do you have a valid argument? (you passed the Turing Test by the way, though not for reasons you would likely enjoy exploring)

Noted with thanks. In response, I pray in aid the following documentary.

http://www.youtube.com/watch?v=5fbvquHSPJU

Good day.

I'm not sure how you came to this conclusion.  If bitcoin is indeed destined for those things, odds are it is also destined to be used for ordinary expenses as well.  Do you right now use a different currency for each of the different types of transactions you engage in?  Like, one for groceries, one for computers, etc.?  This is the part that the altcoiners could never seem to understand....


No it won't.

1.  Who cares?  It's a currency, not a social club.
2.  I don't think you really understand investments if you really think this.
3.  Better than bitcoin?
4.  That should pretty much be a given.
5.  See number 3.


There is a difference between wanting something to be true, and something actually being true.

Bitcoin is the King of cryptocurrency in 2014 just as Western Union was the King of credit cards in 1921 (before Visa, Mastercard, American Express and countless other credit cards and charge cards took over). Today there are millions of different types of credit card and charge card.

Accordingly, your argument is invalid. And yes I do use different methods of payment and different currencies for different types of transactions.

If an unimaginative observer (in 1921) had been asked whether they thought other credit cards (aside from Western Union cards) would ever find favour, how do you think they would have responded?

The answer is that unimaginative people struggle to envisage anything more exotic than the status quo ante. And yet, in light of the above, you still maintain there will only ever be Bitcoin. Really?

Now we have established there will be numerous crytocurrencies (possibly millions of them), it is reasonable to speculate that they may be used for different purposes.

The central fact about crytocurrencies is that they mark the beginning of the end of government controlled monetary systems (albeit that the process may take decades or even centuries to complete). Citizens will never again allow governments to bail out greedy bankers. And in a decentralised system, there will never be any need to bail out greedy bankers anyway.

NxT does have a lot of independent developers pumping out side features like the Asset Exchange.  On the flip side, it has poor distribution and proof of stake only benefits the wealthiest wallets.  Then there are uncertainties around NxT regarding all the scams and thefts they seem to attract all the time.  

I'm surprised NxT still has value but as far as we know it might just be heavily manipulated.  Like the news of some guy stealing millions of NxT led it to its' value to increase by 10% (might as well be the whales bailing out their own coin to prevent a price collapse).

Western Union was a telegram and telegraph company.  They have never issued a credit card or a charge card, are not licensed to do so, and were certainly never referred to by anyone as "king of credit cards".  Especially since credit cards didn't even exist in 1921.  They were the leading telegram company, and still are except that no one uses telegrams anymore.  And yes there are different brands of cards available today.  They are all denominated in ONE currency though, whatever currency your bank\country uses.
While you may in fact use numerous different currencies for each of the different transactions you engage in, I would be willing to bet that the overwhelming majority of people in the world use (except when travelling) exactly ONE currency, the currency of the nation they live in.  Here in the USA anyways, if you tried to go to the grocery store or indeed any store, you would have a difficult (read, impossible) time purchasing anything with Euros, Yuan, Yen, Pesos, pounds, etc.  Indeed, anything other than dollars.  And now bitcoin, in some places.
I imagine they would have asked you wtf is a credit card, considering they weren't invented until 1958 by BOA under the brand name Visa.  You might recognize this brand as STILL being the leading brand in credit card business (along with Mastercard, which they own).  So I'm not really sure where you were going with this point.
I said "if".  HE said bitcoin.  I agreed, because a.  it's obviously the leading contender, and b.  it makes no difference to my contention.  Which si that there will be one major currency that we all use, whether that is bitcoin (most likely) or something else, ordinary people are not going to walk around with 50 different wallets so they can shop at Best Buy with their Electrocoin and then go out to dinner with Foodcoin and then pay the tip with Tipcoin and buy gas on the way home with Gascoin.....etc. 

We have established no such thing.  All you did was post some highly erroneous "facts" about western union and credit cards and called it a day.  Aside from the obvious fact that everything you posted is clearly wrong, we have the intuitively obvious fact that almost everyone reading this now uses exactly one currency for most of their purchases, the currency of whatever country they live in.  It would be decidely inconvenient if you walked into a store and purchased stuff in dollars but got change in pesos, and then the bank wanted payment in Euros, but your company paid you in yen, and your car payment has to be made in CAD but gas can only be purchased with Won.....well you see the point.  

No one can predict the future.  It is of course *possible* that one day some other crypto may supplant Bitcoin.  I do not envision any scenario though where we have people making purchases with dozens of various alt coins, if for no other reason than the major inconvenience that it would cause.  

Very true. Look at XMR for example. It is dyeing a slow death similar to doge. XMR is only at 10percent or so of total coined mined. In next 6 years there will be more than   six times xmr as of today. Xmr is as good as dead.

a crypto 2.0 project just might use dogecoin as its main currency.  not entirely sure, just a hunch.

hoping an announcement comes out soon.

Facts are more interesting than opinions.

http://en.wikipedia.org/wiki/Credit_card
See in particular the paragraph commencing

"Western Union began issuing charge cards to its frequent customers in 1921"

I could respond in greater detail but ordinarily argue only when paid in advance.

For more detailed rebuttal please deposit 200k doge to D5hShARz6GRzu5NvtpZBuNfRtj3434nqtc

I can only explain it to you. I can't understand it for you.

I see room for lots of crypto currencies besides bitcoin.  Some have some real innovation.

Not sure that doge is one of them, but it does have a good community and looks like it may be a survivor from this round of alts.

As to Western Union I didn't know that about 1921, if true I'd say they did an amazing job blowing their first mover status.

Obviously Dogecoin can never surpass Bitcoin or pretend to take Bitcoin's role in the crypto ecosystem, that's just retarded. But it's about filling a niche and Dogecoin is clearly the "fun coin" niche for tips, reddit, facebook, etc. Also Dogecoin has showed ridiculous power when it comes to charity and funding projects. The community is also huge, bigger than Litecoin at least reddit wise. They obviously don't care about Doge's value and that's clear by the 1DOGE=1DOGE statement.

lol @ doge

A charge card is not a credit card.  Seeing as how you do not know the difference between the two, I doubt any information you have would be worth purchasing.  Incidentally, I like how you conveniently gloss over the point.  The charge cards were denominated in USD, the exact same currency as everything else.  Whether you make a purchase with your charge card, your credit card, your debit card, a check, or actual dollar bills, it is all US dollars.