Bitcoin Forum

Just sayin.
The network is as strong (actually stronger) than litecoin's now.
87k members.
Consistently doing about 1/4 - 1/3 the transaction volume of bitcoin.
And dogecoin will move up far faster than bitcoin can. ($27m market cap vs $5b).

And not to mention, bitcoin's max block size of 1mb is nearly reached (currently around 300kb per block), Dogecoin's is 10kb (largely because it gets 10 blocks for every 1 of bitcoin's (1 minute blocks). This is an important issue, Gavin (a lead bitcoin dev) was suggesting a hardfork just for this.

I'm a value investor, if I felt there was greater value in bitcoin (especially in the time frame of the next year or 2), I would prefer to hold bitcoin.

I used to hate dogecoin too, basically just spiting them for being a "meme coin" (who would take a meme coin seriously right?)
But in the past year, the community has proven to be extremely friendly, and extremely effective at coming together and doing things larger than bitcoin (nascar, olympics, doge4water, etc).

And just to boot, Dogecoin has been around nearly a year now and has passed the test of time.

Do yourself a favor and research it, look at the fundamentals, seriously. do it.


Edit: one final thought. I think in the future, we will be able to chose what currencies we use based on what we support and believe. (and perhaps most coins will be issued by companies/organizations, and we chose to use their currency based on its values matching ours). Anyway the point is, Dogecoin represents kindness, friendliness, tipping/sharing. It's the type of community I want to be involved and, and I do believe, that many in the future will want to be involved with too as soon as they discover it (when it starts taking off next time and attracts a large amount of attention).

Don't they spit out like 10 billion dog coins per hour?

Dogecoin's inflation at this point is lower than bitcoin's.

For a shitcoin Dogecoin is doing quite well. IMO this coin has only one advantage and that is good marketing.
With hipsters and appleFanboyz, nowadays image is better than function.

Some points I noticed

Dogecoin is #5 on coinmarketcap vs Litecoin. Litecoin is 5x higher.
Dogecoin Hashrate 903 GH/s vs Litecoin 1.15 TH/s. Litecoin is 20% higher.
Dogecoin is 9% less profitable to mine than LTC.
etc...

And....

This thread should be in "Alternate Cryptocurrencies"....

Dogecoin is actually merge mined with litecoin. So anyone mining scrypt for just litecoin, will be missing out if they are not merge mining for doge.
Yeah litecoin's price is 5x higher, which shouldnt be the case anymore seeing as how our community is stronger, and our network is stronger than litecoin's (we can merge mine with any scrypt coin, they cant (unless they hard fork, which will be difficult for them to do).

I posted this thread here because its a speculative thread, and my target audience is this group "speculation," not the yik yak of a million other alt coins talking about non-speculative topics.

Dogecoin has a strong community that's for sure :)

Ok so merge-mining is a plus point...  If I am correct this means that

You believe: People want Dogecoin, and mining LTC is an added bonus.
Maybe the world believes: Dogecoin is a bonus system for mining LTC so while it's around I will mine LTC through Dogecoin until it is worth shit.

If the second applies Dogecoin will forever be bound to the LTC and breaking loose will be a problem.

For most people litecoin was something to do with their GPUs when Bitcoin mining went to ASICs. Coins that use them are scavengers. Litecoin is the coyote, Doge is the vulture, the rest are vermin, insects, and bacteria.

Dogecoin is not bound to litecoin, it is only bound to the scrypt algorithm and offers opportunity to any major coin mining the scrypt algorithm. A better way of looking at it is- every smart pool that mines for BTC, also mines for namecoin. Why? They have nothing to lose and gain a little extra.
The same applies for mining Dogecoin while mining for litecoin.

One important note that (that favors Dogecoin) is that, if Dogecoin ever supercedes litecoin, litecoins hashrate can fall and it can die out. This can never happen to Dogecoin as long as there are scrypt miners (as anyone mining script can also try to solve Dogecoin's block and thereby also be mining Doge, increasing its hashrate and securing its network)

At this point ASIC miners have dominated scrypt. You can't mine litecoin or Dogecoin with a GPU miner anymore the same way you can't mine bitcoin with them.

Ah that's right. The broken promises of scrypt.

What is the maximum amount of dogcoins there will ever be?

All the scrypt coins are slowly fading away. I will be surprise if litecoin or doge coin can keep the top market cap chart in 12 months.

The colored coins (including xcp created) will soon fill the charts. 2015 will be the year of colored coins.

Stopped reading here. If for you 300kb is nearly 1MB then we have a problem! Stop wasting people's time with useless posts.

Blockchain size is on a steady trend of tripling about every year. For reference, a year ago it was 100kb. Based on this trend, in about a year, bitcoin will be in a serious situation (as during peak times, block size's can very well be maxed out), unless it does a hardfork. This is a serious concern thats why Gavin brought it up and suggested a hardfork.


http://bitinfocharts.com/comparison/size-btc.html

Scrypt coin's hashrates are increasing at around the same rate as bitcoin's, I don't see any fading away on this chart do you?:
http://bitinfocharts.com/comparison/hashrate-ltc.html

There is no limit as there is a fixed ~5% inflation rate per year, which it pretty much its rate of inflation now.

I see what your saying and I definitely do think that time is coming. But alas, I want to keep this conversation focused on Dogecoin and bitcoin to avoid getting too off topic.

+1

Dogecoin will overtake Litecoin's market cap in the next 6 months.

It's unlimited which means it's no different than your traditional fiat money which is inflationary


dodge is no different than any other altcoins, be it sha2/scrypt/custom-coded, it that it is still and will forever be an altcoin. In the world of cryptocurrency, it's just Bitcoin (the first, the one that created the term cryptocurrency) and altcoins (the rest, cryptocurrency clones that will always be based back to Bitcoin). Unless someone can come up with a form of decentralized money that is not categorized as cryptocurrency, then there is a difference and a distinction. Any other coins that uses the Bitcoin solution of trust (the blockchain, the public ledger solution) is just copycats of Bitcoin.

maybe you need to get up to speed. there are altcoins with usd/cny/ end eur markets.

at some point major alts wont be coupled with bitcoin.

i've been mining some doggy for a few weeks now, planning on strong HODL until it takes off.  ;D

buy executed @ 100 ?

Dogecoin has higher supply than litecoin.
If dogecoin supply can be reduce, it would be better.

Dogecoin has perfect supply. Noone would want to feel themselves a loser with 0.01 Bitcoin in the future, because they can't afford to purchase more should Bitcoin rise to $5-$10k or whatever high prices are predicted. Why do you think people buy fancy phones/cars/whatever if the cheaper ones can do the same? It's all about psychology and not feeling yourself a loser. Well, Dogecoin appeals to one's self-importance, Bitcoin does the opposite. Between these two PoW cryptos I bet on Dogecoin.

I agree with this 100% and believe that few people have grasped the significance of it. With Paypal's decision and the partnership of Gocoin and Bitpay, a user can choose to pay with BTC, LTC, or Doge. Users will indeed choose the coin they are comfortable with and within the community they enjoy.

And the Doge community is indeed very friendly and supportive, even to the point of having fun with a new coin. Most on these forums know me as the founder of AppleByte, and I have been most impressed with the response of the Doge community in my playful posts about AppleByte & Doge racing to 200 Sat. Many Doge fans have retweeted and posted my playful posts, there has been no fud. I respect their community and understand the power of it.

Its' some good shit.

You need tt check this again in last 24 hours doge volume was 1/111 of bitcoins.
$ 63,408,900   vs   $ 569,061   

He meant the number of txs per minute, not the USD volume:

Doge ~20-25
Bitcoin ~60-70
Litecoin ~5-10

Dogecoin is doing nice recently , good time for Doge lovers . Lets see if this sustains or its just another hype.

I'd say this is a good summary.  The recent run up has lost steam and doge has fallen back to the 70s.  That is way better than the 30s and 20s it was in but a long way from glory.

I agree that dogecoin will be a survivor but that does not mean it will be worth a lot in comparison to bitcoin given doge's unlimited number of coins.

Nobody is "behind" it, it is decentralized the same way as bitcoin. Maybe some people seek to represent it, and if they don't do a good job I assure you there is no community that will handle it better that dogecoin.

Furthermore, instead of nitpicking a few questionable apples why not look at the community as a whole. Go on the dogecoin reddit page right now and soak in the positive vibes that are virtually always there. In bitcoin's reddit, for example, there's far more negativity and cold demeanors there-- and if there's anything I've learned in nearly a decade of sales it's that good vibes, and feeling good SELLS, it's like having gold in your pocket that everyone wants and wants to be around. On the otherhand, being negative or being a downer significantly hurts ones ability to sell and people generally don't want to be around that (as it generally takes value rather than gives value)

And finally, yes I am a value investor, you seem to have skimmed over the significant points and nit-picked weaknesses. Nothing and nobody is perfect, and nothing and nobody will ever be.

Yeah, litecoin doesn't offer much really. No idea why the price is still so high.

Posting an update that dogecoin hashrate has now actually passed litecoin's
http://bitinfocharts.com/comparison/hashrate-ltc-doge.html

Wasn't the number of Dogecoins capped at 100 billion?

No, the main mining period is 100billion, but it then switches to a constant 10kDOGE/block to subsidise mining fees (which is why Doge is at around $0.0001 fees for each transaction rather than the $0.03 and rising that BTC has). That gives it a steadily decreasing inflation rate, of about 4-5% this year and trending towards 0 in the very long term. This is also mitigated somewhat by lost coins and those burnt to make other cryptoassets (i.e. Dogeparty)

Thanks for the explanation, that makes sense and its inflationary nature has shown to serve some benefit over bitcoin's deflationary nature. The tiny transactional fees are more in the spirit of what cryptocurrency is supposed to be all about and its quickly becoming my coin of choice.