Doge is currently recovering from a large bubble that has done massive damage to the currency. At its peak, the price of doge hit a staggering $.00216 in such a short lifespan, and has since declined 88% to $0.000358USD. Although this was a case of pump and dump, the doge community has done more for crypto in recent times than even bitcoin. The power of crowd-funding and multiple incredible displays of its hive-mind at work, has propelled Doge to the forefront of cryto alongside bitcoin and litecoin. Doge's inflation rate is massive to say the least, at the end of its current cycle, 100 billion coins will have flooded into the market. In essence it is a miners currency with amazing returns, however its short halving cycle makes this profitability short lived. If the price of Doge does not rise, it will be economically unfeasible to mine outside of powerful ASIC's. Even then miners will undoubtedly turn their attention to more profitable coins outside of those who seek to protect large investments. To offset this, the doge plan has been to raise awareness of the currency, to get regular folks involved. Doge has successfully gotten a bobsled team to the Olympics and has sponsored a car in the talladega races however the price is still floundering. Despite the millions that were undoubtably made aware of Doge, the Doge user base mostly consists of people involved in crytpo currency already. One huge problem, one that is very difficult to alleviate is the lack of accessibility. It is not easy to buy doge at all, can you imagine mom or dad trying to buy a crytpo currency? There is no coinbase equivalent available and this is the Achilles heel of doge. Doge desperatly needs to build its hash rate and increase its market cap, something that seems unlikely at the moment, and is an incredibly unattractive investment. Why would the common person jump through hoops to buy Doge when they can directly buy goods in fiat? Why would an investor seek out doge when million of coins flood the market daily? In the background potential of hashrate attacks which had the community worried, the leadership of doge seems to have fractured another worrisome sign.

If this starts happening then bitcoins gets shuts down. Sure bitcoin works well as a speculative commodity but as soon as you start undermining national currencies, tax free, on a large scale basis, your time is up.


Also the deflationary model doesn't quite work well when it comes to fixed prices. The small number of bitcoins means that wild swings can occur very rapidly.

yes indeed

You don understand how much of a disaster 20% unemployment is

look at Greece for example. The unemployment rate there is at 27% and social unrest is exploding. Those 27% arnt just ganna sit there and starve. They protest and demand, and it just a general downward spiral. Once you have a unemployment rate that high it is VERY DIFFICULT to get the gears grinding again because it requires you to spend money that isnt circulating.

If it werent for World War II the depression would have lasted a lot longer than it did

Back in 2008, when backs posted huge losses from sour bets and repackaged mortgages we were on the brink of financial ruin. If allowed to fail, any of the big banks would have (probably) brought the global economy to a halt with a broad domino effect and a swift and long lasting depression may have followed. Instead of letting them fail we gave them the mother of all bailouts AND allowed them to get right back to stealing and gambling. hoards of lobbyists descended upon congress to argue against the banning of the practice of derivative trading, which was the cause of the problem in the first place. All this risk repackaging and minimizing is done under the table, it is hard to track any deals that get made due to the fact they can be done with just two parties and is heavily unregulated.


I highly doubt this system will crash anytime soon unless something big happens (china default, natural disaster)

If it does bitcoin and other digital currencies would emerge as a real commodity, much like gold and silver



What do you guys think?