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As I know a lot of miners want to dig dogecoin. But can't find a pool that pay with dogecoin. It is a big market.
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Because with AuxPoW, a Doge is tapped into all scrypt hash power.
ALL? Incorrect. Doge is tapped into (sharing) Litecoin's hash network. Just like all the sha256 merged coins are sharing the network with Bitcoin. I believe the AuxPoW fork code allows the sharing of any script coin with a hashrate higher than that of Doge, which at this time is only LTC. can u give link to that aux link and why would u do sth like that ? The devs told us about that ages ago, I can't remember the specific thread on /r/dogecoin or /r/dogecoindev. But, myriadcoin is successfully merge mineable with dogecoin ever since the fork: http://www.reddit.com/r/myriadcoin/comments/2g3xm4/its_dday_lets_bag_some_doge/Thanks for your link, could somebody from /r dogecoin give me another one with explanation what happened, please ? What is that marge minning and why ? this pool share not only LTC but other altcoin to dig dogecoin. |
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Thanks for the explanation.
I wish I could combine multiple auxPOW coins but I thought Doge is still the only auxPOW enabled coin right now or am I miss something?
There are others but I haven't looked into them since it requires you to run their wallet and I have limited resources. Before Doge switched to auxPoW, a few coins were merge-minable with it; PesetaCoin, TacoCoin and UmbrellaLitecoin. PesetaCoin has been using auxPoW for quite a long time. But their hashrate is poor. That means they have lost their chance. |
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Can't you just pay the dogecoin with LTC? Just as same percent of LTC.
I'm not sure I understand what you mean there by "as same percent of LTC", sorry. Let me point out that Litecoin and Dogecoin still retain independent network difficulties and market prices, and therefore independent mining profitability. In particular, after the introduction of merged mining the difficulty of the Dogecoin network has started rising rapidly, and this has caused the profitability of Dogecoin to sink from about 100% of Litecoin to the ~18% where it is at the time of this writing. I expect this figure to continue to decline as more pools start doing merged mining. I am sorry for the expresstion. I mean in one day time if a miner get 1% of the LTC that the pool mined a day, then he can get 1% of the dogecoin that the pool mined a day. Is that correct? At last, I must say thank you for your great work. |
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Bravo! Could you give miners dogecoin directly?
Unfortunately that would complicate our accounting considerably, so for the moment we are only going to offer Litecoin payouts. Can't you just pay the dogecoin with LTC? Just as same percent of LTC. |
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Merged mining has started and is proceeding smoothly. We have already found our first Dogecoin block! The PPS ratio is currently 125%, meaning that miners earn 25% more than with a 0-fee PPS system. Enjoy the extra rewards!  Bravo! Could you give miners dogecoin directly? |
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is there any risks to merge pow with litecoin? thanks
Yes, it's going to cause continual downward price pressure unless inflation (aka block subsidy) is reduced eliminated. 0 inflation or DOGE will die if it relies on its market value being tied to BTC. BTC will simply not flow into something that is uncapped... Capped flowing into uncapped = Nope. Devs please remove any inflation if you care about this coin. Please. Don't need 0 inflation. Just lower than USD's inflation is OK. 10 B or 5B new dogecoin every year is fit. Mining too much means nothing now. POS maybe better. |
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So you think doge should be worth over $5 billion?
That analysis is wrong on so many levels.
Doge will have a massive run and it will make new record highs but at best it will be worth about $1 billion. Which for a totally inflated ShitCoin is unreal.
At $1 billion it would be a return of 100 fold from today's $10 million market-cap which would be a 10,000% increase or 2,500 Satoshi.
This is a best case scenario for Doge which would only happen if they're added to BitPay/Coinbase and their hedge fund backed marketing machine kicks into high gear and they significantly slow down their massive imfsltion rate.
Cheers!
You do realise $5 billion for a currency is, to use your term, shitcoin compared to conventional currencies which rank in the trillions of USD. That's not a target to hit, that's a minor stepping stone. Excellent progress for a 5 year old currency, but not by any means a destination. So, yes, any successful crytocurrency should be targeting substantially more than half the market cap of Snapchat [Suspicious link removed]j.com/articles/snapchat-fetches-10-billion-valuation-1409088794) Do you see the news:"Citi: Miners and Merchants Are Keeping Bitcoin Prices Low" That is what I worried for a long time. People and company have no reason to keep Cryptocurrenc, if it's inflation higher than USD. So reduce to 1 Billion new dogecoin every year could change this trend. Then the inflation is 1% lower than USD. Then comany could keep the cryptocurrenc, maybe bank could use cryptocurrenc for a loan later. This is not the main issue we have. We had multipools, and a lot of miners that sold every coins they got, their only goal were to get BTC. This behavior decreases alternate coins value. We had hundred of useless coins, this had a maximum dilution effect; and all the scams around IPO/ICO, pump and dump scheme etc... For a coin to get value we need investors, and to have investors we need trust. The previous behavior kills the trust. It will take time to recover. That is why I said dogecoin need to reduce to 1 Billion new coin every year. Reduce the influnce of the miner. 1% inflation every year (lower a little every year) means it's inflation lower than USD like precious metals(gold mined out every year but not too much). When company hold and trade with other companys and customers use cryptocurrenc, that change everything. Bank will be join in for loan use cryptocurrenc too. Then it will change the world. Make it better than USD is the frist step. |
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So you think doge should be worth over $5 billion?
That analysis is wrong on so many levels.
Doge will have a massive run and it will make new record highs but at best it will be worth about $1 billion. Which for a totally inflated ShitCoin is unreal.
At $1 billion it would be a return of 100 fold from today's $10 million market-cap which would be a 10,000% increase or 2,500 Satoshi.
This is a best case scenario for Doge which would only happen if they're added to BitPay/Coinbase and their hedge fund backed marketing machine kicks into high gear and they significantly slow down their massive imfsltion rate.
Cheers!
You do realise $5 billion for a currency is, to use your term, shitcoin compared to conventional currencies which rank in the trillions of USD. That's not a target to hit, that's a minor stepping stone. Excellent progress for a 5 year old currency, but not by any means a destination. So, yes, any successful crytocurrency should be targeting substantially more than half the market cap of Snapchat [Suspicious link removed]j.com/articles/snapchat-fetches-10-billion-valuation-1409088794) Do you see the news:"Citi: Miners and Merchants Are Keeping Bitcoin Prices Low" That is what I worried for a long time. People and company have no reason to keep Cryptocurrenc, if it's inflation higher than USD. So reduce to 1 Billion new dogecoin every year could change this trend. Then the inflation is 1% lower than USD. Then comany could keep the cryptocurrenc, maybe bank could use cryptocurrenc for a loan later. |
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I warned everyone that an inflationary coin has no future but at that time hundreds of shibes with much economics insight claimed the opposite.
Amazing how this turned out. Wow.
Well, it might have a future again soon with inflation being out of the picture, along with low price and overall cap giving it the "potential" to go up again. I think it will. DOGE has brand recognition and got too big to not make another run again, imo. But right now the entire crypto market is looking bad, and as long as BTC is heading down, it's going to further pull coins like DOGE and LTC down with it. But, if history does repeat itself, the next bottom will be the time to go all in on crypto (whatever you can afford to lose). Either we lose it at all after that or be very happy a few months later.  but too big inflationary is a big problem. The inflationary must be lower than USD ASAP. You must treat people as a Economic man but not a fool. Right now Dogecoin can't be used to shopping. Shopping more, kill dogecoin more. It is history chance. if it passed, you can't get the chance back. Inflation was always a problem and it will always be. Inflation means that you can buy less and less with the same amount of money. If you don't see this as problem you might need to turn back to fiat. The second statement is pure idiotic. The value of a coin comes from it';'s use not from hoarding. Hoarding just keep the value artificially. You cans see the effects now. You don't understand why Shopping more, kill dogecoin more right now. You don't know why Satoshi Nakamoto against amazon receive BTC 2 years ago. Because that time the market is too small. If a house be sold by dogecoin, that Volume could cut down the price of dogecoin 20-30%. Small volume shipping is OK, big volume will kill the market, it only pump the USD out of the market. Shopping more kill more right now. The most important thing is give people reason to buy dogecoin persistent with USD. That mean dogecoin need to be better than USD like BTC( people think BTC against inflation). Dogecoin is easy and cheap to use on internet. You just need to lower the inflation than USD is OK. POW is an other problem. mining will reach the the social average profit. That mean 80-90% new coin will be sold in market for USD( for power fee).(5-10% profit is social average profit) . This problem is killing LTC now. And it will kill BTC later. POW is for distribution, but right now mining is not decentralization. It is only wast of dollar for nothing. Only the power company and the Chip maker love POW know. POW pump the cash out of the market too. POS give people interest to hold, and don't pump the power fee USD out of the market. That mean POS could be no inflation for holder ( but the interest still need to be lower than USD's inflation for psychological effect）. Fix POS's problem, make POS better and let dogecoin use POS is the most important thing. BACK IN THE NEWBIE SECTION WITH YOU. Without people buying stuff with doge there will be no shops accepting doge no doge market and the coin will be useless. I'm not even bothering to respond to the rest of your nonsense. Also... wtf? You don't know why Satoshi Nakamoto against amazon receive BTC 2 years ago. POS is killing the idea of the the coins being used as a currency. Everyone is holding their coins to gain more instead of using it and create demand. It is easy to say create demand, but how? In your words, you only like ponzi. Don't treat people as fool. If you can't give benefit for coin holders, why people buy coin continuously？ Of course, use coin to shopping is the ultimate goal. You don't need to emphasize this point, everybody know this, even a kid. But how to reach this goal. Right now, without enough coin buyer, fans shopping more, that means fans sell the dogecoin more, that means fans leave dogecoin. The dogecoin market is too small now. Look at the price. Let's talk about POW, 5 Billion new coin every year. When mining reach the social average profit(5-10% even lower) than means miners only can get 0.25-0.5 Billion dogecoin as profit. Rest 4.5-4.75 Billion dogecoin have to be sold for USD to pay power fee, depreciation charge. Can you understand right now? The 4.5-4.75 billion dogecoin is wast every year. It pumps USD out of the market every year. Can you get enough new buyers to pay this fee every year? POW is designed for distribution, mining is not decentralization now. So POW no benefit for distribution now. And POW is very expansive to run a system. If it is not expansive, it have risk for 51%.(don't count on LTC, LTC, BTC is dying by this problem too). There is a real paradox here. POS is good for holders. Yes, but bank is good for USD holders too. Then no one use USD to shopping? No holder, no market. |
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I warned everyone that an inflationary coin has no future but at that time hundreds of shibes with much economics insight claimed the opposite.
Amazing how this turned out. Wow.
Well, it might have a future again soon with inflation being out of the picture, along with low price and overall cap giving it the "potential" to go up again. I think it will. DOGE has brand recognition and got too big to not make another run again, imo. But right now the entire crypto market is looking bad, and as long as BTC is heading down, it's going to further pull coins like DOGE and LTC down with it. But, if history does repeat itself, the next bottom will be the time to go all in on crypto (whatever you can afford to lose). Either we lose it at all after that or be very happy a few months later. but too big inflationary is a big problem. The inflationary must be lower than USD ASAP. You must treat people as a Economic man but not a fool. Right now Dogecoin can't be used to shopping. Shopping more, kill dogecoin more. It is history chance. if it passed, you can't get the chance back. Inflation was always a problem and it will always be. Inflation means that you can buy less and less with the same amount of money. If you don't see this as problem you might need to turn back to fiat. The second statement is pure idiotic. The value of a coin comes from it';'s use not from hoarding. Hoarding just keep the value artificially. You cans see the effects now. You don't understand why Shopping more, kill dogecoin more right now. You don't know why Satoshi Nakamoto against amazon receive BTC 2 years ago. Because that time the market is too small. If a house be sold by dogecoin, that Volume could cut down the price of dogecoin 20-30%. Small volume shipping is OK, big volume will kill the market, it only pump the USD out of the market. Shopping more kill more right now. The most important thing is give people reason to buy dogecoin persistent with USD. That mean dogecoin need to be better than USD like BTC( people think BTC against inflation). Dogecoin is easy and cheap to use on internet. You just need to lower the inflation than USD is OK. POW is an other problem. mining will reach the the social average profit. That mean 80-90% new coin will be sold in market for USD( for power fee).(5-10% profit is social average profit) . This problem is killing LTC now. And it will kill BTC later. POW is for distribution, but right now mining is not decentralization. It is only wast of dollar for nothing. Only the power company and the Chip maker love POW know. POW pump the cash out of the market too. POS give people interest to hold, and don't pump the power fee USD out of the market. That mean POS could be no inflation for holder ( but the interest still need to be lower than USD's inflation for psychological effect）. Fix POS's problem, make POS better and let dogecoin use POS is the most important thing. |
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I warned everyone that an inflationary coin has no future but at that time hundreds of shibes with much economics insight claimed the opposite.
Amazing how this turned out. Wow.
Well, it might have a future again soon with inflation being out of the picture, along with low price and overall cap giving it the "potential" to go up again. I think it will. DOGE has brand recognition and got too big to not make another run again, imo. But right now the entire crypto market is looking bad, and as long as BTC is heading down, it's going to further pull coins like DOGE and LTC down with it. But, if history does repeat itself, the next bottom will be the time to go all in on crypto (whatever you can afford to lose). Either we lose it at all after that or be very happy a few months later. Inflationary is not a problem,but too big inflationary is a big problem. The inflationary must be lower than USD ASAP. You must treat people as a Economic man but not a fool. Right now Dogecoin can't be used to shopping. Shopping more, kill dogecoin more. It is history chance. if it passed, you can't get the chance back. Any inflation is a problem. Burn n burn, but there will be moar n moar. You can't build a layer on top of a flaw layer and not expect it to not be flawed too. Every currency is inflation. If dogecoin's inflation is lower than USD, then it is worth to be hold. Like a land. And dogecoin is more easy and cheap to be used on internet. Some one can hold it to get benefit(Better than USD), some one can use it to shopping, tip... When people get USD salary, they will change USD to dogecoin. And one day, they will get dogecoin salary. Then dogecoin could be a real currency. In this model, PoS is much more better than POW. There is no perfect currency, and don't try to fix all problem one time. But changing is the only thing that never changed, just step by step. Dogecoin need to be changed on two point: 1 change to POS( or something like PoS, I don't know). 2. the inflation must be lower than USD( lower than USD's 10 years average inflation). |
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I warned everyone that an inflationary coin has no future but at that time hundreds of shibes with much economics insight claimed the opposite.
Amazing how this turned out. Wow.
Well, it might have a future again soon with inflation being out of the picture, along with low price and overall cap giving it the "potential" to go up again. I think it will. DOGE has brand recognition and got too big to not make another run again, imo. But right now the entire crypto market is looking bad, and as long as BTC is heading down, it's going to further pull coins like DOGE and LTC down with it. But, if history does repeat itself, the next bottom will be the time to go all in on crypto (whatever you can afford to lose). Either we lose it at all after that or be very happy a few months later. Inflationary is not a problem,but too big inflationary is a big problem. The inflationary must be lower than USD ASAP. You must treat people as a Economic man but not a fool. Right now Dogecoin can't be used to shopping. Shopping more, kill dogecoin more. It is history chance. if it passed, you can't get the chance back. |
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I'm holding DOGE since months and they lost almost all their value, I'm sorry but I think I have to sell my millions (worth nothing...).
I could be WAY wrong but I feel part of the reason Dogecoin price is down is due to coin HOLDERS such as yourself. Imagine if ALL Dogecoin was being held...the price would PLUMMET. Instead of spending (NOT SELLING) Dogecoin on physical goods or services, people just hold their coins and watch the price drop. If Dogecoin was being USED more (and not just exchange sell/trade offs either) then there would be a LOT more life in Dogecoin. There are DOZENS of online stores/services that take Dogecoin for payment. If YOU (ANYONE HOLDING DOGECOIN) do not spend your Dogecoin, (even just a little) YOU are helping to bring the price down. Why should the value go up right now? Most Dogecoin fanboys/girls just want to HOLD their Dogecoin in hopes of HITTING it big time. Jeesh People HOLD or CASH out. What good does that do for the Dogecoin community? NOTHING. Gotta CIRCULATE the currency for ANY value to be seen by others. SPEND THAT DOGECOIN. ps-I agree about needing to cap the coin but WE as miners/buyers of Dogecoin can only suggest/recommend that option to the Devs . It will helps people buy bigger things in the future. But only if prices are somewhat stable. Yes it's good to spend Doge but it depends where & how it's spent. The answer is spending Dogecoin on everyday purchases that we do on a regular bases. Then we would need to buy new Dogecoin Frequently which would increase the demand. But its very important on how fast we can purchase Dogecoin. The faster we can convert fiat to Doge the better. This would allow people to buy Dogecoin and use it immediately for things we normal spend fiat on without loosing money from price volatility. Here is one way this is achieved:If store owners & services offered better pricing for their goods and services would help tremendous. Discounts for using Doge!
The problem remains:Not enough people are buying Dogecoin. This is Obviously.
Currently here is what frequently happens:When an online store accepts Dogecoin for a purchase they generally immediately dump Doge daily for BTC. Then BTC is dumped for Fiat. This effect is also magnified when raising large amounts to charity. Don't get me wrong. I Love supporting Charities but you can't deny the fact that after a major fund raiser like Jamaican Bobsled or NASCAR that most all the those coins get converted back to USD. Those are huge dumps! Multiple that with mulit-pool miners that only want immediate profit. Those are huge daily dumps. Dump after Dump. But the community has done an amazing Job keeping Dogecoin's value this high. I believe it will go back up over time. But many people are in Crypto-currency for short term profits like most businesses. The community using it as a tipping currency has been beneficial since it stays within the eccomony. I know there are a few Dogecoin businesses that love Doge and keep some their coins to use for savings, tipping, and charities. But eventually many coins are dumped for Fiat. This has been a problem for Bitcoin as well. Think about what was the a main contributing factor that caused the 2013 Crash of Bitcoin? 2 words. BLACK FRIDAY. Biggest shopping day of the year. Look at the charts. A big step is when we see more manufacturing and commodity type businesses like farmers who will accept crypto-currencies. But their vendors will also need to accept these Crypto in order to keep it in the eccomony. Keeping the Dogecoin in the eccomony is very important. How we do that is the question everyone should be asking themselves. One important way is that we Dump Fiat for Dogecoin not the other way around. Doge will go back up when the community figures out what they need to do.These were only a few tips.  So dogecoin need to be changed to POS to make people to hold and buy. And POS can reduce the power fee to run the system. The power fee is bigger and bigger day by day. Then the most important thing is fixed the POS's problem. After change to POS, inflationary is not a big problem anylonger. Then you have the chance to make dogecoin to be used in shopping. Right now, no one can hold dogecoin to get benifit, No bank will give you dogecoin interest and it is inflationary. Why hold dogecoin,but not USD? So dogecoin don't fit in shopping system now. Shopping more, kill dogecoin more. You must make dogecoin better than USD, then people have the reason to change USD to Doge. The inflationary must lower than USD but not higher. You must treat people as a Economic man but not a fool. |
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I'm holding DOGE since months and they lost almost all their value, I'm sorry but I think I have to sell my millions (worth nothing...).
I could be WAY wrong but I feel part of the reason Dogecoin price is down is due to coin HOLDERS such as yourself. Imagine if ALL Dogecoin was being held...the price would PLUMMET. Instead of spending (NOT SELLING) Dogecoin on physical goods or services, people just hold their coins and watch the price drop. If Dogecoin was being USED more (and not just exchange sell/trade offs either) then there would be a LOT more life in Dogecoin. There are DOZENS of online stores/services that take Dogecoin for payment. If YOU (ANYONE HOLDING DOGECOIN) do not spend your Dogecoin, (even just a little) YOU are helping to bring the price down. Why should the value go up right now? Most Dogecoin fanboys/girls just want to HOLD their Dogecoin in hopes of HITTING it big time. Jeesh People HOLD or CASH out. What good does that do for the Dogecoin community? NOTHING. Gotta CIRCULATE the currency for ANY value to be seen by others. SPEND THAT DOGECOIN. ps-I agree about needing to cap the coin but WE as miners/buyers of Dogecoin can only suggest/recommend that option to the Devs . It will helps people buy bigger things in the future. But only if prices are somewhat stable. Yes it's good to spend Doge but it depends where & how it's spent. The answer is spending Dogecoin on everyday purchases that we do on a regular bases. Then we would need to buy new Dogecoin Frequently which would increase the demand. But its very important on how fast we can purchase Dogecoin. The faster we can convert fiat to Doge the better. This would allow people to buy Dogecoin and use it immediately for things we normal spend fiat on without loosing money from price volatility. Here is one way this is achieved:If store owners & services offered better pricing for their goods and services would help tremendous. Discounts for using Doge!
The problem remains:Not enough people are buying Dogecoin. This is Obviously.
Currently here is what frequently happens:When an online store accepts Dogecoin for a purchase they generally immediately dump Doge daily for BTC. Then BTC is dumped for Fiat. This effect is also magnified when raising large amounts to charity. Don't get me wrong. I Love supporting Charities but you can't deny the fact that after a major fund raiser like Jamaican Bobsled or NASCAR that most all the those coins get converted back to USD. Those are huge dumps! Multiple that with mulit-pool miners that only want immediate profit. Those are huge daily dumps. Dump after Dump. But the community has done an amazing Job keeping Dogecoin's value this high. I believe it will go back up over time. But many people are in Crypto-currency for short term profits like most businesses. The community using it as a tipping currency has been beneficial since it stays within the eccomony. I know there are a few Dogecoin businesses that love Doge and keep some their coins to use for savings, tipping, and charities. But eventually many coins are dumped for Fiat. This has been a problem for Bitcoin as well. Think about what was the a main contributing factor that caused the 2013 Crash of Bitcoin? 2 words. BLACK FRIDAY. Biggest shopping day of the year. Look at the charts. A big step is when we see more manufacturing and commodity type businesses like farmers who will accept crypto-currencies. But their vendors will also need to accept these Crypto in order to keep it in the eccomony. Keeping the Dogecoin in the eccomony is very important. How we do that is the question everyone should be asking themselves. One important way is that we Dump Fiat for Dogecoin not the other way around. Doge will go back up when the community figures out what they need to do.These were only a few tips. So dogecoin need to be changed to POS to make people to hold and buy. And POS can reduce the power fee to run the system. The power fee is bigger and bigger day by day. Then the most important thing is fixed the POS's problem. |
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Why would the 6 owner of these adresses, who most likely are exchanges with no contact to each other, want to colaborate to destroy the coin when they hold such a huge amount of it?
You have a fair point, but I think PoS is considerably better than the current system. I'm not totally against auxPoW either, but I don't trust LTC to maintain an high value for a long enough time to make it truly worthwhile to fork to be merge-minable with them.
The doge community badly needs an education on how AuxPoW works... if you decide to be merge-minable, then you can be merge-mined with ANY parent chain - you aren't dependent on Litecoin, you're dependent on scrypt mining (just as you already are). So, as long as there is a strong scrypt mining network, you're good. And, considering all the investment going into scrypt mining hardware, do you really think it's going to fade away anytime soon? Pretty unlikely. That said, I want some of what you're smoking if you don't think Litecoin's exponential hashrate is an indication of where its value is headed. PoS is a good way to against the inflation. Don't like POW, no one could make 51% on PoS on PoS2. PoW is thought good to distribution, but 46.15% of coins are in only 66 addresses... When 100B dogecoin finished. distribution is not that important. PoS is better that time. |
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DOGE falling or not, Exchange volume still there and it's huge, which Making DOGE one of the most
popular coins.
I won't mine any coin with None existing exchange Volume.. DOGE should recover IMHO,
Exchange volume is shrinked so much than 100 days before. Fly to da moon is good. But dogecoin need change. Changing is the only rule that not be changed in the world. See: 1.If I only have USD1000, I exchange it to Dogecoin. Then I use the dogecoin to buy a TV worth USD1000. How could I get the dogecoin back? The merchant will sell the dogecoin in market for sure. If dogecoin is only a checkbook, it can't work at last. Becase checkbook worth nothing itself. You need to make dogecoin to be a gold itself.(Gold is considered to be against inflation) .You need to make dogecoin better than USD( lower inflation than USD at least). Then people could deposit dogecoin. If dogecoin is more inflation than USD, people will not hold dogecoin for sure. You can fool people for a time, but you can't fool them all the time. 2.My reason to change to PoS is POW is too expansive and wast of money. as the litecoin's price lower and lower and the ASIC's can't be improve Efficiency. You will see this soon: Miner A dig 1M dogecoin a day, and he need pay 0.95M to electric fee; Miner B dig 1 M dogecoin a day too, but he need to pay 1.01M to electric( Because his electric company is expansive than A). Then miner B have to stop the equipment or sell the equipment to the miner who can get cheaper electric. Miner A is survive,but anyway he have to pay 0.95M to electric. 5B new dogecoin a year? 4B will be exchanged to USD to pay electric fee at least. Power company pumping USD out of the market every year. It need to be avoid. PoS is expansive too if 5B a year. But at least it could atrack people to deposit money to dogecoin to make the system run. My Opinion: to run a system, the cheaper the better. Too many cost will ruin the system itself. Now only the IT men in the Dogecoin Foundation. But it is a currence, let the Economist in is important. |
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DOGE falling or not, Exchange volume still there and it's huge, which Making DOGE one of the most
popular coins.
I won't mine any coin with None existing exchange Volume.. DOGE should recover IMHO,
Exchange volume is shrinked so much than 100 days before. Fly to da moon is good. But dogecoin need change. Changing is the only rule that not be changed in the world. See: 1.If I only have USD1000, I exchange it to Dogecoin. Then I use the dogecoin to buy a TV worth USD1000. How could I get the dogecoin back? The merchant will sell the dogecoin in market for sure. If dogecoin is only a checkbook, it can't work at last. Becase checkbook worth nothing itself. You need to make dogecoin to be a gold itself.(Gold is considered to be against inflation) .You need to make dogecoin better than USD( lower inflation than USD at least). Then people could deposit dogecoin. If dogecoin is more inflation than USD, people will not hold dogecoin for sure. You can fool people for a time, but you can't fool them all the time. 2.My reason to change to PoS is POW is too expansive and wast of money. as the litecoin's price lower and lower and the ASIC's can't be improve Efficiency. You will see this soon: Miner A dig 1M dogecoin a day, and he need pay 0.95M to electric fee; Miner B dig 1 M dogecoin a day too, but he need to pay 1.01M to electric( Because his electric company is expansive than A). Then miner B have to stop the equipment or sell the equipment to the miner who can get cheaper electric. Miner A is survive,but anyway he have to pay 0.95M to electric. 5B new dogecoin a year? 4B will be exchanged to USD to pay electric fee at least. Power company pumping USD out of the market every year. It need to be avoid. PoS is expansive too if 5B a year. But at least it could atrack people to deposit money to dogecoin to make the system run. My Opinion: to run a system, the cheaper the better. Too many cost will ruin the system itself. |
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Nice sarcasm. Coming from the guy that said PoW is "backed" by energy (who obviously has no clue what "backed" even means, https://bitcointalk.org/index.php?topic=361813.msg7624335#msg7624335), I think we should take our chances changing it to a PoS coin. If we change it right now, somehow I have a feeling 85 billion coins (with hopefully a low inflation rate) is going to sound a whole lot better than 100 billion + 5 billion every year. And I love your definition of "unlimited" by the way. I guess there must be different levels of inifinity. So if 85 billion is infinity, PoW dogecoin with 100 billion + 5 billion a year must mean infinity + 20 billion? is that how your math works? Way to further make up/exaggerate things. You are ALMOST at the level of Lynn when it comes to making ignorant statements (the difference between you and him? at least you TRY to make yourself sound smart), and that is pretty sad. My reason to change to PoS is POW is too expansive and wast of money. as the litecoin's price lower and lower and the ASIC's can't be improve Efficiency. You will see this soon: Miner A dig 1M dogecoin a day, and he need pay 0.95M to electric fee; Miner B dig 1 M dogecoin a day too, but he need to pay 1.01M to electric( Because his electric company is expansive than A). Then miner B have to stop the equipment or sell the equipment to the miner who can get cheaper electric. Miner A is survive,but anyway he have to pay 0.95M to electric. 5B new dogecoin a year? 4B will be exchanged to USD to pay electric fee at least. Power company pumping USD out of the market every year. It need to be avoid. PoS is expansive too if 5B a year. But at least it could atrack people to deposit money to dogecoin to make the system run. My Opinion: to run a system, the cheaper the better. Too many cost will ruin the system itself. |
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1. Dogecoin is like a pool. When you buy something use dogecoin, you are pumping water out from the pool. Because these dogecoin will be sold for USD. If no new water(USD) come in, the pool will be smaller and smaller till dry up. You use more dogecoin to buy things, the pool is drying up faster.
The analysis you made on that thread's last few posts are fine, but I want to point out that you gave to much importance to the small problem quoted above. Buying things with Dogecoins is fine, because that gives an incencitive for merchants to accept it, which gives legitimacy to the Dogecoin economy and thus is positive for the coin's value in the long run. Plus, I doubt there are more than a few million dogecoins spent everyday, and it's safe to say that many of the users buy back their coins after and/or spend them with merchant who keeps their dogecoin (a good number of the sellers on suchlist and other marketplaces do that). The main problem, really, is the current hyperinflation which encourages multipools, who still are about half of dogecoin's hashrate, to dump more than 60 BTC worth of Dogecoin per day, plus the whales who are dumping since a few weeks (this is proved by the fact that the amount of Dogecoin in the 100 richest addresses dropped considerably). If I only have USD1000, I exchange it to Dogecoin. Then I use the dogecoin to buy a TV worth USD1000. How could I get the dogecoin back? The merchant will sell the dogecoin in market for sure. If dogecoin is only a checkbook, it can't work at last. Becase checkbook worth nothing itself. You need to make dogecoin to be a gold itself.(Gold is considered to be against inflation) .You need to make dogecoin better than USD( lower inflation than USD at least). Then people could deposit dogecoin. If dogecoin is more inflation than USD, people will not hold dogecoin for sure. You can fool people for a time, but you can't fool them all the time. |
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