I am thinking of buying a serious amount of Doge today - about 0.1 BTC worth.
Need some opinions please. Is this is a good idea or a bad idea? Would appreciate any views/opinions please.
I am buying for HODL .. so as a long term investment. Your thoughts please.
London based crypto trader.
Thanks.
In crypto world only BTC is good for long term investment. Nothing else. All others are good only for short term pump/dump speculative investing. One free advice - never jump on pump in full swing. It is like you try to jump on train in full speed - very low probability to success and very high to get yourself killed. |
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Why is this coin pumping up recently? I thought it was a joke coin with unlimited inflation.
Here I explain what unlimited inflation means in practice. https://bitcointalk.org/index.php?topic=2306444.msg27070100#msg27070100In short, to compare Dogecoin with a more valuable currency with limited inflation we must use the Megadoge (1 million doges) because its basic unit is very small. Summarizing: Value: 1 BTC = $14,650 1 MÐ = $8,500 Current supply: BTC = 16,769,287 MÐ = 112,537 Rich address with 1-10: BTC = 556,563 MÐ = 7,184 New supply for the next 5 years: BTC = 3,000,000 (estimate) MÐ = 25,000 Total supply the next 1000 years: BTC = 21,000,000 MÐ = 5,000,000 (estimate) Do you still think that unlimited inflation is a problem? Great write-up! I compared emission stats across a few coins a bit over a year ago - and Doge is actually rather conservative with its emission. https://bitcointalk.org/index.php?topic=1698862.msg17036346#msg17036346It's amazing that people keep repeating the line about Doge inflation being negative without knowing what they are talking about. Of course that inflation has negative impact. Doge 5% per year is 5 billions of DOGE every year. By today price it is 3000 BTC or 40 millions dollars.So you have to find new investors who will be willing to invest 3000 BTC yearly just not to allow new minted coins to push price down.Because DOGE was not developped by years,no marketing,no any practical use,it is very difficult task. Also DOGE has problem it has mined far too quick.Massive supply makes tremendous pressure on price and 5% of inflation in these circumstances is too big.No serious investor will like that,so money goes to more developped coins with strong developping and marketing teams.These are reasons why DOGE is just quick pump/dump coin like many others. 40 million USD (yearly DOGE inflation) is less than today's daily volume. Meanwhile this year's growth in the market cap is 3600%, meaning that the increase in adoption of the currency and resulting demand from that is thousands of times greater than the daily supply increase was able to meet. How is having 5% emission in any way a negative compared to 0% during this time? Are people seriously arguing for wanting to make just a tiny bit more than the X36 increase in one year? I don't think so - it is just an imbecilic argument that anti-Doges use to attempt to destroy the coin. Now if we are talking about the years to come, the growth in new users may drop off after a while, but it's probably going to take at least a few years until it drops off to below the level of inflation, and even in that case, there is still a decrease in supply from lost coins (likely more than 2% a year) and a decrease in prices from economic growth (2%), while by that time the percent of emission would only be around 3%! The best coins have around 1-3% yearly inflation, and yet only in the Doge section there is a constant shrieking about "muh inflation". As for the initial release of many coins quickly (100 billion in the first year), I totally agree with you, it was done way too fast and seemingly recklessly, with the only goal of pumping and dumping it all onto a passive market. But it's been 4 years since then and a lot of the DOGE has been bought up, so I don't see any issues with it in the context of today's Dogecoin. It's really quite ironic that when they were generating the "endless infinite supply Dogecoin", which is a metaphor for the initial low hash rate 1 million, 500K, etc, Doge blocks, there was nothing said about it except hype, and after everything was sold, all sorts of trolls come out of the woodwork to talk about the "Doge inflation problem". Anyway, it seems that most of these initial coins were circulated through the market, passing through many hands, and so it's not an issue any longer. Also, it is much better for a coin to be mined like this (with an excessive supply at the beginning) than to be created within a centralized system by the decision of some person or committee (e.g., Ripple), which is not open to the whole market. A lot of these "developed coins with ... strong marketing teams" that you are referring to are probably just Ethereum tokens that can be created at will in any amount without being openly/fairly mined by anyone in the world, and it can be argued that they are not even real cryptocurrencies. Doge on the other hand has stayed true to the spirit of Satoshi's Bitcoin and so it remains as an excellent choice for any crypto investor. You have to different inflation from coins that are still in the mining phase and the ones which mining is over.DOGE initial supply is huge and 5% is a lot on such huge supply.I agree with you that DOGE has to have some inflation and 1-1.5% would be ideal.Coin market cap is not real indicator of coin strength - truth is that if you dump just 10% of any coin it would lead to complete market crash.You are talking that 3000 BTCs annual inflation is less than todays volume,but fact is that 90% of volume is generating from bots trading same coins over and over. If you are right then DOGE price in BTC would be far more stable and significantly bigger.Fact is that we have 2-3 days pump to 150 satoshi and huge dump to initial price in a matter of few days.Such behaviour is main indicator that coin is in hands of quick profit pump/dump group,not interested for progress and stability.Another indicator of such situation is that DOGE has far narrower wealth distribution than BTCs : 1-10 BTC in DOGE is in max. 7184 people hands and in BTC it is more than 550,000 - DOGE is 80x more concentrated than BTC. That poor wealth distribution wont be a case if DOGE has active developper and marketing team which will be able to bring much more small and big investors in DOGE and then even 5% inflation wont be a problem.More investors,more stability.Present situation is good just for pump/dump team who control DOGE.Agree with your opinion about Ripple. |
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How can a 5% annual devaluation affect a product that is expected to revalue at least 100%?
Dogecoin has a potential market of 100 million users, especially young people in games, social networks, and tips to thank comments and content. That is, even if there was not a single investor, there are 1100 dogecoins for each user. If we take into account investors and people with large numbers, probably less than 50 dogecoins for each user.
With these simple estimates, it is easy to verify that each dogecoin can be worth more than 1 dollar, much more if a speculative spiral is created. With or without inflation.
Potential is one thing,reality is something completely another.How you think that DOGE can reach such potential without full time developper team and powerful marketing?It needs a lot of dedicated work and few hypers here and on Reddit cant do this.So,simple estimates often goes to wrong conclusions.DOGE worth more than 1 dollar is pure fantastic.It is possible only and only if BTC goes to 1 million and that is not going to happen soon. DOGE 5% annual inflation wont be a problem if DOGE would still be in mining phase.But it isnt and 5% on already mined full supply is a lot.You cant persuade me that 5% of inflation will be better for DOGE instead of 1%.It is basic economics. |
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Why is this coin pumping up recently? I thought it was a joke coin with unlimited inflation.
Here I explain what unlimited inflation means in practice. https://bitcointalk.org/index.php?topic=2306444.msg27070100#msg27070100In short, to compare Dogecoin with a more valuable currency with limited inflation we must use the Megadoge (1 million doges) because its basic unit is very small. Summarizing: Value: 1 BTC = $14,650 1 MÐ = $8,500 Current supply: BTC = 16,769,287 MÐ = 112,537 Rich address with 1-10: BTC = 556,563 MÐ = 7,184 New supply for the next 5 years: BTC = 3,000,000 (estimate) MÐ = 25,000 Total supply the next 1000 years: BTC = 21,000,000 MÐ = 5,000,000 (estimate) Do you still think that unlimited inflation is a problem? Great write-up! I compared emission stats across a few coins a bit over a year ago - and Doge is actually rather conservative with its emission. https://bitcointalk.org/index.php?topic=1698862.msg17036346#msg17036346It's amazing that people keep repeating the line about Doge inflation being negative without knowing what they are talking about. Of course that inflation has negative impact. Doge 5% per year is 5 billions of DOGE every year. By today price it is 3000 BTC or 40 millions dollars.So you have to find new investors who will be willing to invest 3000 BTC yearly just not to allow new minted coins to push price down.Because DOGE was not developped by years,no marketing,no any practical use,it is very difficult task. Also DOGE has problem it has mined far too quick.Massive supply makes tremendous pressure on price and 5% of inflation in these circumstances is too big.No serious investor will like that,so money goes to more developped coins with strong developping and marketing teams.These are reasons why DOGE is just quick pump/dump coin like many others. |
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I think Doge will hit $1 in 2018.
Sure,but only if BTC hits $1.000.000 |
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Be careful with all this hype.
DOGE is now in quite overbought phase and significant correction in next week is inevitable.
And not just for DOGE.
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dogecoin will fall to 1 satoshi soon
That could happen only if Chinese investors decide to completely exit from DOGE ,like they did from few other coins after crypto ban in China. More possible is that BTC could go in December on $10000 run,which could pull DOGE price down to 10 sat. |
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Comments like that just drive people to sell more,because it is so unrealistic.Even if DOGE go to 100sat and BTC to $10000,value of DOGE would be just 1 cent.Doge needs expansion,but without active dev team and other markets to absorb vanishing of Chinese market it will be very difficult. |
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There are still about 6 billions of DOGE in Chinese exchanges cold wallets.They have to close on 31st October and they are slowely dumping coins during the week. Will probably see one more round of dumping around 31st.
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Will it be a hardfork or just a new version?
I haven't seen much GitHub activity, it looks pretty dead project to me.
I'm thinking of sell off.
first upgrading to latest bitcoin core, then pow pos hybrid, and finally masternode governance. After BTC38 closure,nothing of that will help if Quark does not list on major alt exchanges Poloniex and Bittrex or at least on one of them.For it survival,Quark needs more investors and money and on small exchanges it cant get it. |
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Can agree with the above, I find doge more usable as currency than the the big ones.
Everytime you find yourself in a loss position the way you are describing now, buy some more if you have some additional funds to spare, just to lower your average price.
Doesn't work that great if it keeps dropping. Of course a lot of people doing that could also help stabilize it. Guess its a case of supply and demand - a bit of extra supply is coming out of China whilst investors are working out what to do with exchanges - I'm sure demand will creep up again when the price gets to a tempting level. Questions are, what will the level be - and how much oversupply will there be from the China fallout. I'm still hedging on a rise later this year. Before all this China banocalypse,the largest DOGE exchange in China,BTC38 had about 11.46 billions of DOGE in their cold wallet - D8EyEfuNsfQ3root9R3ac54mMcLmoNBW6q. From 13-15th.Sep,about 50% went to Poloniex and Bittrex,causing massive drop of price from 36 to 22 sat.Now, there are 6.2 billions of DOGE in BTC38 Doge wallet ,so we have to expect one more big wave of selling till to final closure of exchange.Problem is that market on Poloniex and Bittrex is not so deep to absorb one more big wave of selling - just 2 billions deep of DOGE Buy orders (to 7sat) on Poloniex.We will probably see DOGE on all time low price, 4-7 sat and then slow recovery. |
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I can confirm that after 10 days of waiting,I finally got mine BTCs from BTC38  |
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After waiting 16 days it now shows a withdrawal of mine as invalid. I've re-submitted the withdrawal request and opened a ticket. I've waited before on BTC38 but never like this. Only starting to sweat a little!
That is very bad.Please,post the outcome of this problem,so the people can know if they deliberately pushing people to change BTC for other coins(with few percent of lose due to slightly inflated prices) or it was just mistake of theirs wallet. |
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With so many unrealistic price FUDing huge dump in unevitable.Someone with really big bag of DOGE relentlessly FUDing newbies to trap.
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After theirs server maintenance when loading pages for any of trading pairs( http://www.btc38.com/trade_en.html) on english site version ,Buy/Sell orders and Recent history cant load at all,just show Loading... indefinetely. But pages loading fine on chinese site version.Flushed DNS,cleared history,but still the same problem. Does anybody else who trading on BTC38 english site version has same problems??? |
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Setting up an exchange with fees used to buy quark to burn would be useful in controlling inflation.
Anyway we may need a coin swap so that may cut back the quark supply drastically.
We need some coins for dev funding and paying masternodes/pos
Sadly the fatal flaw with quark was the emission the only way to fix is inflate it now slightly.
To this point, I'd be unsurprised if the effective coin supply is much less than 250,000,000 at this point with cryptsy closing. i notice a lot of wallets were recovered from there...wonder about the qrk wallet and how much is in it. Someone must know. Hmm interesting. Its a good question I'm not certain of the answer to. were recovered from Cryptsy wallet. You can find this info (and for other coins too) in this document on pages 19 and 20: http://cryptsyreceivership.com/v1/wp-content/uploads/2016/06/CCF_000148.pdf |
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is that mean that WDC/CNY trading pair on BTC38 will be established again? |
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There are almost no nodes after wallet upgrade to 10.4.3 and later versions.I get 1,very rarely 2.It is high risk for network safety.
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YOU CAN TRADE DOGECOIN WITN CNY at-www.btc38.com/trade_en.html
ON BTC38 DOGECOIN IS BEING TRADED MORE THEN BTC
SO, DOGECOIN IS BEST TRADING COIN ALL OVER WORLD. BUY DOGE AND HOLDING DOGECOIN FOR YOUR FUTURE LIFE!
"YOU CAN GET PROFIT FROM DOGECOIN".
But there is a catch.BTC38 is chinese exchange,they have DOGE/CNY trade pair.You can convert DOGE to CNY and CNY to BTC but cant withdraw BTC or LTCs due to PBOC decision. |
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Hello, please help, 4 years ago I made a purse on my home computer, put the password and forgot, please help, what are the ways to restore?
If you know your privkey,you can make new wallet and import it. Without password and/or privkey you cant do anything. |
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