Bitcoin Forum

I was recently tipped a decent amount of Dogecoin on Tipestry for posting about a bunch of different cryptos. Should I convert the Dogecoin to BTC or ETH? Does Dogecoin have a future? I'm thinking about keeping it on Tipestry for a while and then transferring it out to my ledger (assuming I don't convert it to BTC/ETH)

Dogecoin is a coin with infinite supply. This makes it a bad choice for investment. That doesn't make though Dogecoin a bad coin and maybe somebody will find a way to "salvage" it.
Dogecoin use to have a great community. This means value if one can use it.
Dogecoin is a great learning coin, since is very similar to Bitcoin in many aspects.
Dogecoin was in the past my main choice at transferring coins between exchanges (I didn't trust and still don't trust stablecoins, especially USDT). And yes, it's traded at a great number of exchanges.
Dogecoin, although is a meme coin, is one of the few cryptos that can behave exactly like the money as we know it, exactly because its infinite supply.

Dogecoin is one of the older cryptocurrencies that still has a large following. It is based on the Shiba Inu meme from late 2013. My main concern with that coin is that one of its founders, Jackson Palmer, seems to talk smack about other cryptourrencies. He's just negative energy in the space.

In my opinion, you better hold a doge coin, because doge coins are one of the potential coins. And the fee is still very cheap. I still hold some doge, because I'm sure someday doge can be of high value.

It seems like you didn't understand about what he was talking about. he was asking about does the doge coin has a potential?

OP, the only use cases for doge to create a transaction that needs low fees and I don't see any other reason to hold it. You must stick your doge to another promising coin. 

The only conclusion I have made is that it is very complicated to invest in DOGE. It is a coin that should not be invested easily but sometimes can create great opportunities.

This is exactly the answer but an addition, Dogecoin for what I've experienced is one of the strong coin that exist until now, where you can use this? If you're going to take a look at the most exchange site Dogecoin is always there, If you play in most of the crypto gambling games Dogecoin is there and also there's a lot of services who accepts Dogecoin.

In bitcointalk you can use it as a mode of payment, you can also use dogecoin as a collateral the good thing about doge is that the price never reaches 0 and the project still exist today unlike other coins which trends for a mean time then disappear.

Dogecoin is a good coin to keep aside from ETH and BTC, dogecoin is a strong coin and always has a future, I often see when the price of BTC and ETH rises he also goes up, meaning that he is good to keep exchange in the form of ETH and BTC.

I don't think there's any tangible usecases for Dogecoin and I think the only thing that the coin is enjoying is because it is one of the oldest coins in the industry. Another issue that I have with Dogecoin is that its supply is not fixed and this is a big turnoff for any serious investors.

to add to what NeuroticFish said, i say it depends on the amount that you have received. you didn't mention how much Doge is "a decent " amount that you have received. if it is a couple of bucks then holding it is not a bad idea, you can use it to tip others on many different platforms, you can gamble with it in a lot of gambling sites, there are also some rare cases of some online websites selling (small) stuff for cryptocurrency and accept Doge as payment. but don't do it as an investment of if you hope it can gain value over time because it won't thanks to its unlimited supply and the joke nature of it.

Well its more of a community coin that is use for tipping/rewarding others instead of doing main transactions
It's more of a community owned coins that is use for fun purpose

Of course you can make people adopt it by implementing ways to spent with Doge, but i doubt that it will be effective

In the long term probably Dogecoin is not the best option, I would probably convert them into those coins in which I believe more.

Dogecoin has still a future for traders. It is not as valuable as Bitcoin, but it is an old coin which is present at any exchanges. It is good to have some Dogecoin.

Dogecoin is one of the strongest coins that exists today, where can you use this? If you see a dogecoin exchange site that is always there, if you play in most crypto gambling games, Dogecoin is there and there are also many services that accept Dogecoin.

I would not advise you to keep your money in Doge for the long run. However, it depends on your risk/reward attitude. Being a joke crypto, Doge has outperformed many cryptocurrencies with ideas, and who known for how long that will continue and whether this rend will be broken at all. Doge has really big audience, even Elon Mask tweeted about it. But I would rather convert at least half of Doge to something more reliable, maybe distribute in top-5 coins.

Apart from payment I don't know of any other use case of Dogecoins

Never know to much about Dogecoin, from my experience using Dogecoin just for Alternative Transaction. Because by using Dogecoin we can sent a large asset with a cheap fee. If we see about Dogecoin, I never hear some news about them from their development also the developer i dont know to much about them.

I agree, I went somewhat on a tangent. As for use cases, like you said, low fees and a recognized brand in the space that people trust. However, it doesn't offer anything that other coins such as Litecoin and DASH do not.

Thank you for such a detailed report. Easy to understand. I was really not aware this coin has an infinite supply.
I was holding DOGE for a short period of time and took some profit while ago. For investment, I think it is not the best coin to hold as it is with infinite supply somehow against the most important crypto benefit.

Up until now, doge is my first choice whenever I transfer money from one exchange to the next. I don't have to wait for too long and been trusted for so many years already. It is like, you can never go wrong when you use doge for transferring your coins. Based from my experiences though. And yes, with its infinite supply, I don't think it will be a good investment. Maybe for use case, can be an alternative as payment instead of bitcoin. Pretty cheap also when it comes to tx fees.

no you shouldn't use dogecoin as investment.

unless you have already a big portfolio with hundreds of coins: dogecoin has always a positive outlook, it's widely used, hard to manipulate, easy to transfer.......

the value (fiat/dogecoin) during the years has been pumped a lot despite inflationary production.
From 0,00018 USD (6 AUG 2014) to 0,016 USD (8 JAN 2018) actually 0.0025 USD!
Other coins due their nature, (lack of community, not widely accepted, hard to use...), can just fail and lose value during the years despite they seems a better investment!

 

I personally wouldn't use it, but if you're getting tipped in it, then I don't think it would hurt to hodl it for a week or so before converting it to another currency.

Indeed Dogecoin infinite supply will can't make the price grow up, but Dogecoin can be used to send small amount of money and also to use for faster confirmation and maybe will be used more on future for small payment between people or to buy something.

I guess safety is something that most of us need lately. Even after all this scam thing. Dogecoin gained this trust by the community. In addition, the community is of great importance and the doge has succeeded in doing so, today its price is much higher than when it was created.

if you want to grow, you have to convert it to btc or eth or other altcoins that have the potential to rise more. and I see doge has no future because from the start the coin was only for jokes. but even so doge will always be there.

for myself, I actually collected some doge for the investment of jaka panjuang even though the price is still low, but if the doge increase can continue to occur, eating will get quite a lot of profit.

When more doge comes to the market and it gets less demand and then the price will go down. That's the only use of dogecoin and it has no other usefulness. But not so many people are using it as pump and dump coin rather than use it as their transaction or payment system.

really a doge coin just with huge emissions and it seems the emissions in it are not limited. but I would not hurry to exchange it. It is very old coin and it constantly occupies a rather high place for capitalization. It is traded on many well-known exchanges. Many exchanges have traded alcoins in pairs to doge, it is quickly translated and has a low commission for translation. And more its very often a pump and very high. Now it is low from its maximum price so I would not advise to sell

Despite DOGE geing called a meme coin and whatnot, it's an altcoin that gets accepted as payment in many websites accepting cryptos. For instance, some crypto gambling casinos like Stake, Bitsler, Fortunejack, etc, all accept DOGE. You can also buy an account from AirVPN using dogecoin. For all the hate and jokes it gets, I think dogecoin works better as a "cryptocurrency" than many other cryptos that are above it in the charts that are nothing but vaporware or hopes & dreams.

Depends on what you mean by future. If you mean whether it can give you profits if you hold it for the short/long-term, I'd say all altcoins have potential to give you decent profits once the next bull run or altcoin cycle begins.

Dogecoin was born as a memecoin but I'm surprised it made it this far maybe because of its strong community backing it up? I like it for the fact that you can transfer easily with very low transaction fees and its fast as speed light

It is good for moving small amounts between the exchanges. Let's say if you have $10 in a crypto, the best way to move it without getting butchered by the fees is usually converting to doge. You'll lose some while exchanging but the withdrawal fees are usually very low so you don't lose much.

It is also a good coin for purchasing small stuff again. It is like lightning network woks on-chain.

It has unlimited supply but that's a feature. Doge never wanted to be store of value in the first place.

Bitcoin tries to accomplish both of them (store of value and medium of exchange) and that's why it is the market leader.

I like doge and have respect for what it is doing. Even hodling a few thousands even though I know it doesn't make any sense.

Dogecoin is unique coin. For th first place it was created as joke, and a lot of people don't take it seriously. But the other way it ia the one of the oldest coin, and it is quite stable. Doge have a lot of fans and strong community. Of course nowadays the main usecase of doge is transferring funds between exchanges. But who knows what can happen in future. There is no guarantee of course but i think Doge will surprise all of us in future.

Doge coin is a payment coin so it is mainly used for payment purposes. However, I don't think it is a good investment to be kept, even the founder said that the project was initially a joke. The only good value that they have is their community, and it is keep shrinking, Doge does not do anything outstanding nor make any great development. Most of people use it because their transaction fee is extremely cheap

Although dogecoin isn't a stablecoin, it was good to save coins in dogecoins during the time when stablecoins were not known. In our recent times, I use dogecoin to make larger transfers that will take more charges when I am transferring funds from one exchange to the other.
And finally, due to the large supply of dogecoin, it removes the issues of decimal point in bitcoin and other low supply coins. In reality, we all like using notes and not coins so the same applies here :D

Dogecoin is a good choice for small payments and transfer small money between low cap exchanges.

I do not think Dogecoin is a good investment coin as it has infinite supply of coins and it has not been doing well in the market since it was launched to the market. But on the other hand, it has been said that the coin was created as a joke coin and later it developed its own online community later. Now I think any coin 'unusual' like dogecoin may get rise over time as the people get attracted due to its unusual nature. So holding it may bring you good benefits.  

Dogecoin don't really have any use case and it's just a coin created for fun, though the reason why the coin is never going to stop being in existence is because it is having the glory that bitcoin have of being one of the first coin that came into existence in the crypto world and has a lot of trading volumes because whales are already familiar with the coin and also use the coin to make a lot of money for themselves by causing a bull run in the price of the coin and then dump when it has gotten to a targeted price they desire.

There are plenty of gambling sites which are accepting dogecoins. This is one of the marketplace where we can make use of dogecoins to buy/sell everything : https://www.suchlist.com

I think that the most common use of Dogecoin is to transfer funds between exchanges with a low transaction fee, which consists of only a few DOGE coins. Traders often have to transfer coins from one exchange to another and exchanges have set high commissions to withdrawal Bitcoin, so it’s easier to buy Dogecoin, transfer to another exchange and sell it by buying Bitcoin again. If you have a small amount, then the benefit will be winding.

Doge I used to use for a fee if the withdrawal in small quantities and the prefect that is more efficient is doge. besides that in the chart we can see that doge itself is actually really good to invest because price movements are not massive. You can do your own research on this matter whether interested or not to invest.but what I see is actually doge is also good for long-term savings.

Dogecoin is only useful for trading pairs with other altcoins on low volume crypto exchanges.
I do not see any possible use case for dogecoin when we have litecoin or bitcoin (+lightning network).  :)

Dogecoin has also been used by its community often in fundraising initiatives, such as helping Olympians attend the winter Olympics and raising funds to build clean water wells in developing countries.
Dogecoin can also be used for speculation or held as an investment with the goal of making a profit. Since its creation, Dogecoin has seen many peaks and troughs in its price creating lots of opportunity for speculators.
An analysis of Dogecoin also adds some color to the current cryptocurrency landscape. This straightforward token doesn’t pretend to be anything but what it is: a peer-to-peer digital currency. Among the thousands of whitepaper pages, complex theories, and pedantic explanations of the cryptocurrency market, Dogecoin is a rarity – and its community loves it.

I think this coin was made for fun, it doesn’t fit for anything. Previously, it was possible to send money from a stock exchange to a stock exchange with minimal commissions, but now transactions in a Bitcoin network are cheap, and for example, the throne is generally free.

usually doge is used to give tips. and I personally sometimes use doge to play dice at 999dice. although doge has no definite purpose but many still use doge. but from the many uses of the Doge, investment is not one of them. if someone holds a doge for investment purposes he is very wrong. Doge is a joke coin and won't have a good future. so we won't be able to get big profits despite holding for years.

I think it should be. holding a doge isn't too profitable unless you really want to use it for tips too. it's hard to wait for the doge price to rise so it might be better to convert to a more potential altcoin. this is only a suggestion, it might be better to convert to ethereum because ethereum prices are also cheap and now the chart shows prices will rise. so it would be great if this was my prediction.

this is a jokecoin. last year it has reached 0.02 dollar even Jackson Palmer said it was unbeliavable for dogecoin.

it is a coin for tipping only.

This is the truth. Of course, it's good to hold coins like doge for profit but for me, Potential lies with any coin backed by practical uses (https://www.ecomi.com/?utm_source=ecomilx) that can be honed in the future.

I think the main reason why doge was started was a joke, it is not supposed to be a legit coin that you invest and try to earn money, it was more like "if you have spare cash you can spend buy doge and join the community fun" and so forth. They sponsored a NASCAR car once, they supported a bobsled team from Jamaica if I remember correctly and they raised funds to build a well in Kenya as well.

So, aside from jokes and what not they did made a lot of funding for stuff as well and that is it, that is all you do with doge, not invest and profit but more like buy and help. The whole idea was a joke to begin with so why would anyone want to profit from doge is beyond me since that is not what the purpose of the coin was.

Due to the nature of DOGE supply, it is very close to the real money. However, people don't realize that fact and focus on extremely low fees and awesome DOGE community.

well many don't agree holding dogecoin for long term, it's better to convert it into ethereum. For me dogecoin is useful for transferring funds because of the low fee.

dogecoin has low transaction fee, so it can be useful for small transactions, and generally it is used for gambling, since the fees are low, and you can bet with smaller amounts, without fee cut

Personally, I do not see any other way to use Dogecoin except as a quick and cheap exchange between exchanges. In this regard, it is very convenient and charged a minimum fee. It might even make sense to buy this coin. It shows itself very stable.

It's started as a memecoin but now as you can see it's one of the most known coins on the market it's a good way to learn cryptocurrency so what's the use of it? you can use it as a mode of payment but the best thing for it according to myself is to be used in gambling since most of the gambling sites does have this coin and since it's value is not that high I think it's one of the coins i like to used in playing gambling games.

I don't think there's much point to it, no. It's just a joke coin really, the only thing it has going for it is the lengthy history. Of course there are still people who believe in the coin, so don't write it off completely, but it is not one for me. I think no matter how serious the development is, it will still be thought of as a joke coin.

People at start think DOGE is joke coin but if we are looking on market value, i think its not a joke anymore. With big liquidity and daily transaction, i think DOGE could be wild card in cryptomarket. But most trader use DOGE for transfer because its much cheaper

I wonder how doge coin manages to get better and stay alive when it has no real use case apart from fast transaction speed and lower sending fee nothing more but I suspect there is a group that keeps showing love ,doge community?

I don't have much knowledge about altcoin, nevertheless, Dogecoin was created for fun and has gained popularity for its speed I guess. It's almost instant. I liked this feature. I don't know how other usefulness of this has.

yeah, everyone here knew i doge is only a meme coin, but this coin have really good movements on btc terms,
because mostly this coin will increase its value in bitcoin, when bitcoin price rising, and thats really great price movements for a meme coin

Dogecoin is the most strange top coins in cryptocurrency for me. It just a meme coin, so why it has high marketcap value?
Seems like the use case of Dogecoin is simply as a currency. You can pay peoples in Doge, and peoples can pay you in Doge and you can sell it to fiat currency later.

Although dogecoin is an older coin related to crypto currency. I think it can be hold for long time to get good profit in future.

In the future, I don't know because dogecoin is something that is unique to the crypto world, but doge coin is very good if traded at the right moment because the increase is very fast and of course it drops too fast, so if you want to invest you should know the moment and preferably indeed convert to btc / eth for a while.

No use case , but there is plenty of sites that accept Dogecoin for payments . Never thought that this coin can reach so high marketcap , but here we are . Can you imagine troll coin got 300M usd marketcap ? And there is really nice projects out that has 5 times less marketcap than dogecoin =D Sometimes coins/tokens have really no usecase and reach really high marketcap .

I like the coin doge.  Especially good to withdraw from the stock exchange.  Low commission rate.  I hold a small asset in this coin.

I really like Dogecoin, its stable price and the cheapest commission. This coin has a good inflation rate of 5% per year.

Dogecoin is unique but even the developer of this coin has expressed in an interview that this was created for fun but now i think it has made its ground and with faster and cheaper transactions it has been used by many for payments and transfers.

Dogecoin supply is huge and that makes the price growth slow. The price has been very discouraging until recently when the price expressed some massive growth because of a rumour of a hardfolk. I didn't follow up updates on the suppose folk.

I usually using DOGE coin when i want to transfer my BTC, because the transfer fee is high if you using BTC.
and i think many peoples does that too. DOGE coin fee is low if you compare it with other coins when you try to withdraw or transfer.

Dogecoin is a tipping coin. It was not designed to be an investing coin. It started with a meme and has a good community and fan followings. It's a good coin to gamble with. Or make a bet. It also has one of the lowest transaction fees and faster transaction. Which also makes it ideal for coin to withdraw from an exchange with higher fees.

you are right, but not all exchanges provide a doge pair. otherwise you can use litecoin which I think has transaction costs which are also cheaper compared to BTC.

Hehe, when I compared the Doge with projects like Verasity or such, some got me angry. This is a tragic side of the crypto I guess.