The picture only proves a lot of speculation due to those currencies being older, that's all.
If we look at Litecoin particularly, a lot of people are dumping to get Bitcoins with occasional dead cat bounces.
+1, and there is a double-meaning to this being a bubble graph  Is the 24h trading volume, which make CLOAK, CRYPT, and Darkcoin seem huge, truly relevant? The picture proves that posts such as 'Litecoin is dead' 'NXT is the best crypto' are FUD.
That is true. |
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Doge will collapse sometime in the next year.
This is because the mining subsidy is being halved, several more times, and each time that happens, in the presence of cryptocurrencies that are providing relatively stable mining subsidies, it's going to cost doge about half its mining effort.
At a point about six months from now, it will merit (on the basis of mining profitability) less hashing power than several other altcoins with market capitalization less than one percent of its own.
Unfortunately, it needs security (hashing power) in proportion to its market capitalization. When its hashing power drops as low as that of another altcoin, it becomes as easy a target for an attack as that other altcoin; but because of its higher market cap the attack on Doge will be proportionally far more profitable.
So the attack will be launched, eventually; some major chunks of coin will get double spent, scammers will make a ton of money off attacking the coin, and then (once the scammers have spent theirs) everybody else will get a chance to revise its value downward to no more than the remaining mining effort can secure.
I'm annoyed with Spoetnik for starting this topic without pointing out the technical reason why Dogecoin will fail. His idea of "bad" is purely hyperbole and without basis in fact. I agree with him that Dogecoin is in fact bad, but he is supporting the idea with damnably weak arguments and in a way that antagonizes people, rather than by pointing out the facts of why it is (like most fast-mined alts) guaranteed to fail.
That is a fair criticism. However, there are ways that this problem could be solved. - The value could increase. The demand is strong enough to eat 180 million new dogecoins, most of them mined and dumped by multipools, everyday. If that demand remains, it is likely that the price will increase when there will be under 10 times less new doges produced everyday. - The developpers have mentionned a few times that if the hashrate becomes problematic in the next halvings, dogecoin could switch to PoS. This might happen after the initial 100 billion coins have been mined. - Other coins could become merge-minable with Dogecoins. A dogecoin pool recently implemented merge-mining with Pesetacoin, and other coin developpers have said that they are considering it; like Digicoin if I'm not mistaken, and there's also Tacocoin. And the idea of being merge-minable with Litecoin is not out of the question. - There's "charitable" mining. Many dogecoin users have expressed their willingness to mine at a loss to protect the network. There's an initiative on a subreddit called DogecoinDefenseForce, and they have been pledged about 1 gh/s that will always mine doge even at a loss. And it's not the only one. - Litecoin's price could drop, and thus all the altcoins would share it's massive hashrate. The smaller coins would have quite less security problems. It seems probable that at least one of these scenarios will happen and thus the network will stay secured. |
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There are three features that are extremely important.
1. Fast
2. Cheap to use
3. Very easy to use
These are the core. If a coin is missing one of these three, it sucks.
Most coins suck.
I'm curious, do you have any exemple of a coin that is expensive to use or hard to use? |
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it does matter though, since the price of bitcoin fluctuates so the rates paid out will vary. i think it's probably better for stunna since it's safer for him in the event that bitcoin crashes during a monthly period. it's probably wayy too much work though.
It works the other way too, though. Bitcoin's value could double in that time period. However, since his business deals in BTC, I guess it would not matter too much. |
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Why would someone invest 1 BTC to get a share of a bunch of hardware which, individually, is worth 110$ from a reputable company?
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"It might make sense just to get some [coins] in case it catches on." Satoshi Nakamoto, before he released Bitcoin's client  "I wonder when it's safe to spend these" .. a few years later The day he does will not be a good day for the Bitcoin market! As soon as his coins move; BAM, price falls 50% (and recovers in a week) |
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too late for mining .... everyone in this thread says they hate coins that are aimed at fast profits while they are begging for PND to do the same
lol so what do you say about the 7 days POW period POS coins? Just an observation, the PoW period for this coin is pretty nice. stayed under the radar of whales too. The majority of the coins are in the hands of people who want to see this coin growing into something that's meaningful (best alt coin ever lived) Yes, the proof is that it stayed relatively stable after May's hype when the coin's value raised x10 and more. That's quite surprising. |
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"It might make sense just to get some [coins] in case it catches on." Satoshi Nakamoto, before he released Bitcoin's client |
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If Doge rises in price doesn't that raise the price of bitcoin, since most of the DOGE is being purchased with BTC?
Actually it's the opposite; if Dogecoin's price rises, it's because people sold their Bitcoin for it, which means there's less demand for Bitcoins. And it would also means that people interested in cryptocurrencies, who could have bought Bitcoins, will have bought doges instead, so Bitcoin doesn't raise because of this. However, the impact is tiny because Dogecoin's market cap is less than 0.4% that of Bitcoin. |
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If we consider DOGE http://bitinfocharts.com/top-100-richest-dogecoin-addresses.html0.08% control 64%+ of the economy, less than 1% control 85%. This is based on address, 1 entity could own 75%+ easily. The rich get richer, the economy is monopolized, when you have that much of it you can inflate and deflate value however you want. When you earn percentage interest also then it's a recipe for disaster. These numbers are not good for statistic analysis. 70% of the addresses have less than 1000 doges, and 82% of them have less than 10000. Any serious doge users is in the remaining 18%. If you look into that 18%, a third of the doges are in the 100000+ addresses who hold less than 10 millions and more than 10k. Only 6 addresses hold more than a billion, totalling a third of the doges, and it's safe to say that most of them are exchanges. |
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too late for mining .... everyone in this thread says they hate coins that are aimed at fast profits while they are begging for PND to do the same
There's a difference between: - wanting a coin's price to skyrocket in a few days and then convert it to BTC or fiat, and - wanting a coin to have an healthy growth and thus empower the community and its economy. |
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Glad to hear that. Yes we are currently the faires full POS coin with 3 months of POW phase. We don't hype so daytraders don't really can manipulate the market too much and when they try they fail because we have a very loyal community.
Nice  Is there any merchant or market place that accepts PND? I couldn't find the info on the subreddit. And by the way, kudos for inserting the staking-related info at the bottom right of the wallet, even Peercoin doesn't offer that. |
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It worked great till now,
There are some consideration in really long-long run about it. But till now it was great
Until now? What kind of considerations, other than the fear that PoS leads to hoarding? |
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Bittrex gave me a Pesetacoin deposit address that starts with "K", is this legit?
I was under the impression that the addresses always began with "L".
Thanks for your answer.
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and some of us don't know if we're enrolled or not until he posts another list  Pinksheep, wasn't it you who was confirmed to be enrolled three times? |
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McDoge was not this community's finest moment. How could anyone think that was a good idea?
Well, to be fair, that worked quite well for the guy who invented Hot-dogs  |
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I agree it does conjure up thoughts of dog meat, but I still like the name. It's not like I'm suggesting a McDogeMeat.
Actually, I think there was a McDoge, but it was removed with a few others, including the McDogecoin. |
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Feel free to join the IRC channel and start mining too PND fun for everyone! :p Yeah, I went there yesterday, the weather was quite rainy though! |
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A McDoge would be a better name. Yes, but McDonalds would never have accepted it. Associating meat with dogs would not be a good advertising strategy (Except perhaps for McDonalds China? jk) |
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