Also I saw some posts earlier questioning why Dogecoin is gaining in value and each coin being 82 satoshi's right now.
(I own 0 Dogecoins)
Well I think a lot of it is easier mining using script, being fun and having vast amounts of coins for newbies, and people here have taken a little chance that it might be like Litecoin and the fact $100 at the begining of last year in LTC is now worth $30,000 USD.
Also the thing I think a lot of people are missing is how much gambling and utilizing the coin actually adds value.
**Dogecoin has 100Bil to be made, and 31B already made, and Doge-dice has 1.45Bil of that already - 4.56% of now and 1.45% of future **
So I ask the question could one person (Dooglus) and his trust on Just-Dice having made Doge-Dice actually legitizime the coin? And then since then others adding to it make it actually worth while?
*** Also I am quite skeptical of Doge and even LTC as these asic-scrypt miners are being proposed, I think limiting the big corporate is what adds value to these alternative coins, and if that is broken then only a GPU mined coin becomes "the peoples coin"***
Until DOGE, I associated the alts with imitation coins for people who felt they missed the bitcoin train (even though it is
still early).
But After Doge (AD), I am a big fan. DOGE is like the "alt-coin" equivalent of Proudhon's "confirmed bad news" thread: it's an effective counter trolling (alt coin pumping) parody.
People really like DOGE and have a lot of fun with it. If you spend some time on
http://www.reddit.com/r/Dogecoin, you get a sense of the fun-loving and generous community that has formed around it. It is quite a different feel from the Quark or NXT user groups. Participating with DOGE is a "fun" way for new users to learn about crypto-currencies and mining. I think these people will all become bitcoin advocates.
I think the "fast" mine (31% have now been mined) was brilliant. There is currently an oversupply keeping the price low and the users generous. But pretty soon, the newly mined coins will get tight. If they can keep the hype up till then, I actually think DOGE coin has a decent shot of becoming the dominant script coin. Right now, r/Dogecoin has 30,851 subscribers, 660 online now. But r/Litecoin has 17,447 subscribers, and only 65 online now. Litecoin has 24X the market cap.
There's a doge tip bot, doge-dice, doge-road, great trading volume on the exchanges, and just a lot of energy that is still being sustained. Bitcoin supporters, if they think about it, may support DOGE as the best alt-coin because it sort of makes every alt-coin look equally silly.
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