I think one of the problems with doge is also why it's popular ... it appeals to young people.
So they think if they invest $500 or so, one day they will be rich. They look at bitcoin and think if doge only hits $1, they will have it made. But they don't take into account the number of doge out there.
Again, I'd say hold, but you can diversify a bit for free.
Do the giveaways from various forums (was a lot easier when they were all listed here), do contests, try some freebie azure cloudmining. You won't get rich from it, but you can get a mix of coins that way over a month or so... maybe $100-$200 worth, or more if you hit a lucky pump and dump. Again, you won't get rich, but you also minimize any risk from holding your doge.
I also put a little bit in maza today (basically cashed out giveaway coins I stored up)... couple of hundred coins, which is miniscule to what most probably have, but free is free. I'd normally dismiss coins like that, but after seeing that iceland coin, who knows... could possibly go crazy (or collapse completely).
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Well, depending on the exchange, with small amounts of bitcoin, the fees or min. can be greater than what you are transferring... so it needs to be something else used. It tends to occur with the dinky exchanges more than the bigger ones.
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If it was me, I'd hold until you at least make your money back. It's currently at around 0.00000164, so there is still a ways to go, but it's very doable, even shortterm. Just need one pump or some new doge info coming out.
The only reason to sell now is if you had another coin in mind you want to put the funds into. If you were starting over, I'd probably recommend DarkCoin, one of the newer 'region' coins like maza (pump and dump), or wait for Ethereum.
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I am still somewhat new to this, so am curious what most people here recommend when transferring funds between exchanges? I am talking about small amounts, so moving .05 bitcoins or so doesn't make sense due to fees.
What I have been doing is just using something that sells for around the same between exchanges (stuff like doge or sometimes mint), buying that at one exchange, moving it over, then selling for bitcoin again. Of course, depending on prices, there may be a bit of loss when doing it that way.
Is there a better way, or a preferred coin for doing swaps like that?
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I'm interested. I am curious how followup 'country/area' coins will do, but this has a good a chance as any. 100M seems like a decent number to me, although wouldn't mind a bit less even. At least you will hopefully stay away from billions+ coins, which really waters down value.
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12 Mil -- (makes random guess).
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1) Yes 2) 01/14 3) Yes 4) No 5) B 6) Probably not. 7) Cheaper the better. But still probably not. 8 )The majority of alt coins are a complete waste, they provide no roadmap to ever be used as a real currency, and seem to be copycat coins trying to market via memes and logos. To stand out, use code that is unique and try to have a real purpose. 9) No 10) Umm… not for me. But perhaps the marinecoin guy would be interested if his crypto city/empire doesn’t go quite as planned.
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When prices sink like this, it makes me glad I don't have real money invested, mostly doing this just for fun. My entire 'portfolio' may be worth like $200+ or so .... and most of that came from freebie cloudmining of darkcoin.
When I saw EAC get down to 99, I bought about 15K. I also figured how much lower could it go? And then it kept sinking. I eventually sold it at 75 during a brief bump, which I guess was a good thing, seeing where it is now.
I feel bad for those who have millions of EACs, as I see no way for them to ever recoup the money really.
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Not so sure. It may get a pump, but only after it hits rock bottom. And I have a feeling it has a bit more to sink...
And it's only undervalued when compared to earlier prices. When you factor in that the developers may have dumped their premine (rumors) and development-wise, there isn't a whole lot to get excited about regarding the coin, its true value may be around where it is now, or less.
I realize a lot of people paid a lot for EAC, so they hope it will be pumped or they try to see something positive in it. But at this point, it just looks like a sinking ship. Money can be made still, but only for those who know when it will hit the ocean floor.
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Looks like an interesting coin. It certainly has a unique logo. And it's one of the few new coins not released with billions+ coins max... reasonable number.
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What's the problem with this. advertise TiPS. include a small logo saying it's FedoraCoin.
An unfortunate reality is that marketing and appearance quite often matters more than anything special as far as code goes. So it's basically advertising the fact the developers couldn't make up their mind on a name, confuses people as to what FedoraCoin actually is, and makes people like me (who doesn't keep up with memes) wonder as to what a fedora has to do with a tip related coin. Are they two coins, one coin, why is it advertised as Tips yet is called FedoraCoin ... that sort of thing. It just looks stupid. I am not saying the coin still can't succeed, but if the developers can't pick a name, then it doesn't bode well for more important decisions.
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I think that is one of the main problems. Going with a name such as TiPS (aka FedoraCoin) does make the developers look like jackasses and not worthy of investment. I question their decision making skills on bigger issues if they can't even get the name right.
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Also got the coins. Thanks!
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Well, I see a couple of questions were answered indirectly.
2% fee. Name staying as Fedora Coin.
It seems idiotic to me to keep that name and use a ticker of TIPs. I don't get the appeal of this fedora meme thing myself.
Anyway, unless this drops like a stone to supercheap levels, I think I will pass on it. The fact that the developers can't get the name right is worrisome on a number of levels.
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I admit I haven't followed this coin very closely, but have a couple of newbie questions.
What is up with the name? I mean, typically the name of the coin is the simplest thing to get right, yet there seems to be a problem deciding whether it's fedora coin, tips coin, or some bizarre combination (Tips aka Fedora)?
Is there a transaction fee for mixing and is it fully integrated and working? If no transaction fee, logically one would think it'd be a pretty big deal. If a fee, not sure why it'd be better than something like Darkcoin.
My personal opinion is that the fedora meme is idiotic and no idea why anyone would prefer Fedora Coin over Tips as a name. The new coin design is really nice too. Tips with some built in tippers for websites like youtube and such would be logical and make a ton of sense .... so what is the problem? The lead developer wants to stick with the fedora name/meme yet the community is using common sense?
I have about half a million Tips, so it's not very much at all. Just wondering if I should bother buying a couple of million, or at this point it may be a downward spiral until the dev can get his act together.
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I tend to agree with this. The name itself will be the reason darkcoin is never widely accepted by, er, "normal" people (also can't think of the right word sorry). It doesn't matter how great it is, give it a shady or evil sounding name and it's doomed.
Not that I condone criminal activity, but to be honest, that is how bitcoins gained some traction. I don't think any rational person will see the name darkcoin and say, oh, I can't use that, as it's an evil coin used for bad things. If so, they wouldn't use bitcoins or any currency either. It's not like someone made a coin called devilcoin (although give them time, they are sort of running out of names).... Bitcoin - litecoin - darkcoin ... has a nice ring to it, and perhaps darkcoin becomes the copper to litecoin's silver. Although litecoin isn't doing particularly well either lately.
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You will be surprised. This is the only coin with a clear mission! To the MOON!
Doge captures your imagination and lets you create things. Doge connects people in a fun and non threatening way. Doge is self replicating.
No wonder it is such a big hit and it will only get bigger with time.
The problem is that none of that matters when there are an infinite number of coins out there. If max doge was like 100-500M, then yep, it could get into the dollar range maybe. Heck, even if 1 billion max, maybe. But infinite? It'd require a ton of money to get pumped into doge to reach dollar levels.
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.01-.05 would seem like a logical best case scenario. And that is if everything goes perfectly.
If the big holders dump, I don't see that price ever happening. And it's more likely the coin just stays around where it is now, minor ups and downs ... and either eventually fades away as a footnote of crypto silliness, or lives as a type of tipping coin, but never gains enough traction to be taken seriously anywhere else.
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For a coin to interest me, it'd have to offer some functionality over existing coins. Memes, names, logos are really meaningless. As for a premine, how about try no premine at all?
Functionality would either be in the code or how the coin is used or mined.
A random example -- someone just released a movie coin, and the whole selling point is it will be used for movie related projects. And that is complete nonsense. Any coin would work for such a purpose.
If instead they released it, said it was POS, and rewards were actual online movie rentals through a well known company (vudo, mgo, anyone who won't go out of business next month)... then it'd be unique and interesting and actually serve some purpose.
Huntercoin is another example of something unique. If a coin had a better game for mining, it could do very decently. Chesscoin would be nice and something I expect a lot of people would find interesting.
If you plan to just make a clone coin, using an automated coin maker thingy... there is no way to make it something that the community would actually want.
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I'm semi-new to crytos, and do find the entire doge thing a bit odd as to why it became popular to begin with -- I wasn't following it, or any coins, when it was first released.
But as for haters, I expect part of it is simply those who missed the boat or sold when it was cheap. And I expect the other part is from those who aren't 15 years old and find all the 'much money' and odd dog talk amusing. A lot of people would like bitcoins and cryptos to be taken seriously, and a coin with a dog on it, with users who post comments like they have brain damage, probably isn't something they think will help.
The weird thing is that doge's developers have set the coin up better than many serious coins, as far as actually having a purpose and being used as a real cryptocurrency (due to the infinite coin thing).
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