Bitcoin Forum

Check grand prize winner in Best Ideas category.

https://www.youth-competition.org/winners-2013-2014-announced

Dogecoin?  

Why?   Folks ... Bitcoin needs to succeed if you want "X" joke coin to have any chance of succeeding.  

Please pour your efforts into Bitcoin, until the time has come that crypto is a mainstay.  

I don't understand people's thinking sometimes. :-/

I try not to assume that they're just mindlessly supporting a joke coin because they missed the Bitcoin train, and hope to get rich, but ...

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Summary of your idea

Proposal - Use cryptocurrency for organised sustainable microlending. Cryptocurrency is at a stage when it transcends commodity status. People use it to buy pizzas, donuts, games, stuffed dogs and cars. Dogecoin, one such digital currency, has been used to dig wells, sponsor NASCAR drivers, build houses, and fund tropical countries at the Winter Olympics. The project will leverage the inherent advantages of dogecoin - no transaction costs, instant worldwide transfer, low financial entry barrier, no administration costs, generous community with a history of giving - to organise a sustainable microlending programme. Microfinance has been shown to improve financial inclusion and supports the entrepreneurial ambitions of a global populace. The project is split across two phases: P1) Contributions will be collected in dogecoin, converted to fiat currency and sent to shortlisted global microfinance institutions (shortlist based on repayment rates, systematic and open process, history, credibility). The funding is provided in fiat to show proof of intent from the dogecoin community. P2) Funds raised are sent in dogecoin to institutions, benefiting them with the above listed advantages. The first phase is necessary to show that (expected) smaller financial contributions from a larger base can significantly impact the funding to new entrepreneurial projects. Main objective - To raise $5,000 worth of dogecoin in the first phase of the project, and to shorlist 3 institutions which will be used as channels for impactful microlending. Loans once repaid will be reinvested to set up a sustainable base for funding projects. The completion of the first phase will signal the potential for using cryptocurrencies which break many of the traditional barriers to using smaller quanta for financial support. Empowering a bigger part of the global population will open up new means of allowing people to help others from the comfort of their homes.

Why? Because no bitcoiner bother to do the same but with bitcoins instead.
Are you blaming the author of the idea, that he chose the wrong coin?

It's a great news for cryptos, including bitcoin. I'm sure that a lot of people got introduced to bitcoin through dogecoin.

Because:
Giving and for-giving are closely related; notice how...

No forgiveness of any kind is ever tolerated on this forum, and bitcoiners like it that way!

I just searched this forum for "forgive" and the results are NOT GOOD AT ALL for bitcoin's image.

No wonder then, that Dogecoin is described as a generous community; they at least make a point of giving.

I also want to mention how intensely paranoid most bitcoiners are.

This post above mine is spot-on:

There is certainly truth in saying people support other cryptos because they missed the Bitcoin train but last time I checked Bitcoin alone is just not ready - and it might never be
ready due to it's design and P2P network - to take all world transactions on itself. Also, if world switches to just one cryptocoin that would mean there is a single point of failure.
Altcoins complement Bitcoin and you should be grateful some of them might remove unneccessary weight off Bitcoin while providing advertisement for the whole crypto movement.

Awesome, more good news.

looks like dogecoin have a more supporters now
it's good for crypto world, even though it is not bitcoin

Hahahha dogecoin! Perhaps, doge is making comeback. Merged mining surely is a good thing for doge.

even if with doge, i think that this is a great news.

Anyways, i don't think is enough to make doge rise...