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Author Topic: Future of DogeCoin  (Read 5907 times)
lCryptoKnightl
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October 23, 2017, 08:00:46 AM
 #1

Yesterday one of my friend sent me some dogecoins, so out of curiosity i started digging information about how this coin work and how it is different from others as it is my first interaction with this Crypto-asset.

I found some interesting information regarding how it's origin is based on a popular internet meme and it's community active participation in various charity works and even in helping their fellow mates who lost their dogecoins in a cyberattack through various crowdfunding efforts, which is indeed appreciable.

If we specifically talk about speed of transactions - i have to say dogecoin is indeed fast. But the thing which caught my attention is there is no limit to its suppy, which means it is present in infinite amount.

Till today more than 100 billion dogecoins are in circulation. With as of today Oct-23-2017 , 1 DOGE =   $0.00101075 .
We have been taught about price-supply-demand things in school , in simple terms a price of an asset will depend on demand in market and its suppy - if supply of an asset is more than demand price falls and if supply is less and demand in market is more then price of an asset increases. So we can relate this to the continous BTC price increase as demand for bitcoin is more and supply is limited which increases it's value.
Comming to the fact that dogecoins have no limit of supply i hardly think it can ever become an investment asset or a stable currency ever. I see some people on twitter who are investing in alt coins see it as an long investment on which i completely disagree.

If we want to see doge coin really succeed , here are my views what the developers should seriously take note of:

1. Limit its Supply:

 More than 100 billion doge coins are in circulation with market cap of approx. USD 13.5 MIL . 100 billion is a big number and it's always increasing so unless community decide to limit it , i donot think it can attain any significant value in longterm.

2. Ok if we limit it - what will we do with existing coins?:

Solution to above problem is quite simple. We just need to publish a new Crypto-token or currency which will derive it's value from previous currency in circulation. For Ex: Let the new currency be called Super Dogecoin denoted by S-DOGE. As per our convenience we can set it's base value like 1 S-DOGE could be equal to 1000 or 10K or say even 100k DOGEs . So not just it will decrease the numbers of coin but will also hold significant value. And this new currency could also be listed to the exchange if needed.
Thank you.
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October 23, 2017, 08:10:26 AM
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Dogecoin is a coin used for tipping. Widely used in reddit. It doesn't get any further than that. It was a meme coin, had its peak, it's the first tipping coin infact. Don't expect it to grow huge, because it won't. All I do with dogecoin is have fun with it, because it has no real purpose after all.
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October 23, 2017, 08:21:56 AM
 #3

Dogecoin is a joke.
It's not my opinion, it's a fact, this coin has been build, based on a joke, and for laughing. There is no real purpose with it, no real goal, no business.
As it is a joke, community around it enjoyed it, and the value had its up and down. Nothing more than that, there is no integration in bigger business planned with this coin, no future, so I don't recommand you to invest in it.
What I recommand is like every coin, to do your own research and don't believe what people will say on this forum, even this post.

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October 23, 2017, 08:25:18 AM
 #4

dogecoin is dead, nothing to expect from this coin. along with the bitcoin up, dogecoin will die slowly

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October 23, 2017, 08:35:37 AM
 #5

I can't even understand why Doge is still existing, there is nothing in this currency, it will disappear in times

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October 23, 2017, 08:51:01 AM
 #6

To see so much criticism of Dogecoin by so many forum users here is a sign and a clue to what the crypto community here is really all about. I appreciate that OP has spent the time to research it. I hope you see that Dogecoin is very unique because of the giving community, generous towards all and especially charity. Look at all the other alts claiming millions and yet all their community does is talk about price, profit, and going to the moon.

I agree Dogecoin will need to look at its supply again, but do not forget its creator decided to do it like this after a lot of thinking and felt it was the right path.



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October 23, 2017, 08:53:31 AM
 #7

Dogecoin seems to be still clinging to life  Grin
The last I heard of this coin/token was that the developers
had all but abandoned it, but I suppose all it takes is a little
surge of support by newbies thinking they can make great
amounts of wealth with it and it can rise [temporarily] from
the gutter where it currently is.

This was one of the first coins that EXODUS.IO had supported
in its wallet system but as of 2 months ago they are no longer
supporting it and has been withdrawn. that says something
about DOGE

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October 23, 2017, 08:54:49 AM
 #8

At one time he was popular, but all this was just a picture, he had no value, and now he died at all because of uninteresting. Although some electronic purses still believe in him and he is on the list.

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October 23, 2017, 09:04:48 AM
 #9

When i bought this coin last year, i didn't know that project at all, but when i research this project, i understood that i made a big mistake buying this coin
jagmrx
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October 23, 2017, 09:07:18 AM
 #10

To see so much criticism of Dogecoin by so many forum users here is a sign and a clue to what the crypto community here is really all about. I appreciate that OP has spent the time to research it. I hope you see that Dogecoin is very unique because of the giving community, generous towards all and especially charity. Look at all the other alts claiming millions and yet all their community does is talk about price, profit, and going to the moon.

I agree Dogecoin will need to look at its supply again, but do not forget its creator decided to do it like this after a lot of thinking and felt it was the right path.

Dogecoin is good in it's own way. Although the price remains and does not change, but it makes it unique and have its own advantages. Unlike the other cryptocurrency whose price can rise up and down is uncertain. We can also lose and profit at any time and uncertain. But on the other hand, Dogecoin has a fixed price and is difficult to change.

That makes a nice dogecoin used for transactions. I myself use Bitcoin for investment. I pay bills and buy food using dollars and cash. That's because I do not want to sell Bitcoin and keep using flat money. Therefore Dogecoin can be used like a dollar and cash but in online form. Hope you understand what I say.
Seansky
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October 23, 2017, 09:11:51 AM
 #11

I can't even understand why Doge is still existing, there is nothing in this currency, it will disappear in times
Doge is abandoned by it's developers, still it has more real world use when compared to other altcoins. Doge is one of the most used coin in cryptoworld in terms of tipping and in gambling as well since it is not expensive and is easier to gamble with because of it's fast and cheap transactions. It is also accepted as payment by some merchants and uses the services of shapeshift and similar services to accept it easily. As long as there is someone using it, doge won't be gone and for this reason it has survived for a long time.
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October 23, 2017, 09:24:48 AM
 #12

I can't even understand why Doge is still existing, there is nothing in this currency, it will disappear in times
Doge is abandoned by it's developers, still it has more real world use when compared to other altcoins.

It's not abandoned. But the founder definitely is not showing any sort of real interest in it anymore and updates are rare and far in between, and probably will stop some time soon. Still, i like doge a lot. I don't know if it's just sentimental stuff.

TBH, doge has a great community. Better community that most other coins, and they don't take things too seriously. They know that their coin is not full of promises and they're proud of that. For this reason, every year we see doge get pumped still.

Smokey Bob
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October 23, 2017, 10:18:06 AM
 #13

I remember when DogeCoin was first created. I was hanging on 4chan and saw people talk about it, and I thought to myself that no one can be dumb enough to actually give this any value. But I underestimated the internet. I don't think it will happen again tho. The internet is tired of the memecoin now.

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October 23, 2017, 09:58:49 PM
 #14

Dont pray for dogecoin, because it will never recover.. just look at its price, it is lower than 30 satoshis each doge, that is crazy. I remember when they were upto 300 satoshis each, that was the glory for this coin, but it had the same value in USD than now (only that btc is higher now)
But it is a meme coin, there is nothing good from it only that you can use it in some Casinos and in the deep web, nothing more.

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October 23, 2017, 10:05:04 PM
 #15

Dont pray for Dogecoin, because it will never recover.. just look at its price, it is lower than 30 satoshis each doge, that is crazy. I remember when they were upto 300 satoshis each, that was the glory for this coin, but it had the same value in USD than now (only that btc is higher now). But it is a meme coin, there is nothing good from it only that you can use it in some Casinos and in the deep web, nothing more.

Yes, just like you said. If we hope that the price of Dogecoin will rise, I think that is near impossible. Maybe it will rise, but just a little. Honestly, I do not know what will happen to Dogecoin in the future. But if the coin is still there, I'm sure there are still many people who will still use it. Why ? Because the Dogecoin actually has its own benefits and advantages. Dogecoin prices that never change it is a distinct advantage and not a drawback.

Unlike the other cryptocurrencies, you will not be able to invest in Dogecoin. But you can use Dogecoin to transact online more easily. If I transact online using Bitcoin, I think it's too risky because of the ever-changing Bitcoin price. So I better use cash and dollar for buying and selling activity. Well, Dogecoin is one of the solutions for online transactions.
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October 23, 2017, 10:07:06 PM
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Doge has a huge supply and like everyone has said it is mainly used to tip. Even so, there are plenty of ways of making out with the doge and I would say that is primarily trading it against other alts on cryptopia.

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October 23, 2017, 10:07:57 PM
 #17

Your wrong about the price, I've seen it double and halve. In terms of USD value. As to it's future, who can say for certain. It does not look good with no active development
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October 23, 2017, 10:08:13 PM
 #18

my 2 cents
devs should change name to TIPCOIN or something
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October 23, 2017, 10:08:31 PM
 #19

I can't even understand why Doge is still existing, there is nothing in this currency, it will disappear in times

Dogecoin will never die, it was one of the first criptocurrencies here and it was designated just for fun.
That's why it still exists, it is showing to the community that even a ridicolous meme-based coin can be used to buy something online Smiley

BTW I think that the price will go up by end of this year (speculation of course)

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October 23, 2017, 11:30:27 PM
 #20

I got to buy Dogecoin when the price is still around 0.00000100 BTC, then the price goes down and then then I sold,

although I lost but it is a good choice I think, now the price is 0.000000016 BTC I am afraid next year Dogecoin will be a dead coin ..

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