Is doge dying off?

[FrictionlessCoin]

45+ BTC buy order on Cryptsy.
Someone can see something we don't.

I see it: Another sucker separated from their bitcoin. Enjoy your MEME coin! If anything has lasting value, it's a meme...

Exactly,  it's a meme... doesn't have long term staying power.

Two weeks from now, another meme will take over, meanwhile there will be still like 500,000 coins minted ever block.

Just for reference:

Block 1-100,000: 0-1,000,000 DogeCoin Reward  <-- WE ARE HERE (24,470) !
Block 100,001 — 200,000: 0-500,000 DogeCoin Reward
Block 200,001 — 300,000: 0-250,000 DogeCoin Reward
Block 300,001 — 400,000: 0-125,000 DogeCoin Reward
Block 400,001 — 500,000: 0-62,500 DogeCoin Reward
Block 500,001 - 600,000: 0-31,250 DogeCoin Reward
Block 600,000+: 10,000 DogeCoin Reward

[KingGoon]

Fact : 90% of posters here don't know basic things about currencies.
So funny.

Of course price will drop, since the market is flooded with DOGEs.
Compare coins with apples. Is there demand?  If yes, price will go up highly.
THere's no demand? Price will start dropping.

In this case, there are MANY doge coins. Not many persons interested to buy.
When every miner dumps from multipool and floods the market.
Instead of holding coins and wait 2-3 weeks.

Im sorry to pop your EGO bubble, but you are in fact wrong on your facts and you are the one in your called 90% of posters here who does not know the basics.
Multipool does not autosell and multipool miners are not autosellers. They are just DOGE miners like everyone else in any other pool. They are NOT the cause of price drop.
2-3 weeks holding does not improve the price of DOGE on long term. It is simple logic that you are missing here. Think about it a little and perhaps you understand.
Initial demand for DOGE came from hype. Now its correction time. Price falls to normal level simply because DOGE is no "jackpot for everyone" but instead it is just another coin.
However. DOGE has big potential to become great coin!
What DOGE needs is all kind  of advertising and Shops and Services to start accepting DOGE as payment.
Only then those tasks are accomplished the value of DOGE will start rising over the any other popular altcoin. Why? Simply because holding DOGE becomes more meaningful. At the moment DOGE is nothing but hyped coin which has no other purpose than trading for profit.

---
One more thing i would like to add to DOGE owners to undersand. We are around 1/4 from block reward being halfed. If you  are sitting on millions and you do not have to sell to pay your bills, then hold. In two months time you will get at least double of current price.

I agree with you that Doge is very popular.   The problem however is the price,  as you mint more coins,  the price goes lower.

There are too many coins!  500,000 coins are minted every block!  It does not matter how committed the buyers and holders are for the coin, there are just too many coins to sell.

Hey,  I'm a DogeCoin miner and all I do is autosell to BTC.   I have no motivation to see it tank since I'm a seller,  but I am being plain and simple honest with you folks.    Even though it appears that there is a lot of demand,  there's just too much supply.

There have been some block with close to 1 mil coins  

[FrictionlessCoin]

Fact : 90% of posters here don't know basic things about currencies.
So funny.

Of course price will drop, since the market is flooded with DOGEs.
Compare coins with apples. Is there demand?  If yes, price will go up highly.
THere's no demand? Price will start dropping.

In this case, there are MANY doge coins. Not many persons interested to buy.
When every miner dumps from multipool and floods the market.
Instead of holding coins and wait 2-3 weeks.

Im sorry to pop your EGO bubble, but you are in fact wrong on your facts and you are the one in your called 90% of posters here who does not know the basics.
Multipool does not autosell and multipool miners are not autosellers. They are just DOGE miners like everyone else in any other pool. They are NOT the cause of price drop.
2-3 weeks holding does not improve the price of DOGE on long term. It is simple logic that you are missing here. Think about it a little and perhaps you understand.
Initial demand for DOGE came from hype. Now its correction time. Price falls to normal level simply because DOGE is no "jackpot for everyone" but instead it is just another coin.
However. DOGE has big potential to become great coin!
What DOGE needs is all kind  of advertising and Shops and Services to start accepting DOGE as payment.
Only then those tasks are accomplished the value of DOGE will start rising over the any other popular altcoin. Why? Simply because holding DOGE becomes more meaningful. At the moment DOGE is nothing but hyped coin which has no other purpose than trading for profit.

---
One more thing i would like to add to DOGE owners to undersand. We are around 1/4 from block reward being halfed. If you  are sitting on millions and you do not have to sell to pay your bills, then hold. In two months time you will get at least double of current price.

I agree with you that Doge is very popular.   The problem however is the price,  as you mint more coins,  the price goes lower.

There are too many coins!  500,000 coins are minted every block!  It does not matter how committed the buyers and holders are for the coin, there are just too many coins to sell.

Hey,  I'm a DogeCoin miner and all I do is autosell to BTC.   I have no motivation to see it tank since I'm a seller,  but I am being plain and simple honest with you folks.    Even though it appears that there is a lot of demand,  there's just too much supply.

There have been some block with close to 1 mil coins  

500,000 is the average since it is random.

[markm]

Then I guess maybe you ought to be able to get about ten DOGE per DeVCoin, since DeVCoins only mint 50,000 coins per block.

So buy them up anytime anyone will sell you more than ten for a DeVCoin and in the long term you should do okay maybe, unless it lacks DeVCoin's staying-power.

Oh wait, difficulty. GRouPcoin mints only 50 per block yet no one buys it at 1000 DeVCoins per GRouPcoin yet, largely because its difficulty has not caught up to DeVCoin's difficulty yet, even though everyone knows that in the long run it makes sense that GRouPcoin is a 1000-DeVCoin-piece.

-MarkM-

[MoneyGrabber]

those buy orders as few as there are are for big amounts, while the sell orders are quite small.

[markm]

those buy orders as few as there are are for big amounts, while the sell orders are quite small.

That might be because one buys billions for (if possible) a satoshi each, then posts sell orders at every satoshi of price on the sell side, so you have a billion "sell one coin" orders at a billion different prices on the sell side for each billion coins you buy on the buy side.

Or are you looking at the total depth, the entire pile of sell orders all the way up into stratospheric prices (including those that people aren't bothering to type in on any exchanges yet due to current going rate on exchanges being way down in the less than a thousand satoshis per coin range) ?

-MarkM-

[FrictionlessCoin]

those buy orders as few as there are are for big amounts, while the sell orders are quite small.

Well,  clearly there a lot of folks buying Dogecoin.

I think the buyers are brain dead,  but I can't complain.  I'm happily mining Dogecoin to sell to them.

[FrictionlessCoin]

those buy orders as few as there are are for big amounts, while the sell orders are quite small.

That might be because one buys billions for (if possible) a satoshi each, then posts sell orders at every satoshi of price on the sell side, so you have a billion "sell one coin" orders at a billion different prices on the sell side for each billion coins you buy on the buy side.

Or are you looking at the total depth, the entire pile of sell orders all the way up into stratospheric prices (including those that people aren't bothering to type in on any exchanges yet due to current going rate on exchanges being way down in the less than a thousand satoshis per coin range) ?

-MarkM-

On cryptsy you have:

0.00000051   18.71053455 BTC
0.00000050   64.23634161 BTC

That is a ridiculous amount of BTC to spend on a coin that has only been mined for a bit over a week.  What happens in 1 month,  6 months,  2 years?

It is just surprising how people can't really see which coins are worth investing in long term and which ones are not.

[dupee419]

it's on it's way out. I think IFC and COL are worth more at this point. hell, it's gone straight down since it listed.

[markm]

those buy orders as few as there are are for big amounts, while the sell orders are quite small.

That might be because one buys billions for (if possible) a satoshi each, then posts sell orders at every satoshi of price on the sell side, so you have a billion "sell one coin" orders at a billion different prices on the sell side for each billion coins you buy on the buy side.

Or are you looking at the total depth, the entire pile of sell orders all the way up into stratospheric prices (including those that people aren't bothering to type in on any exchanges yet due to current going rate on exchanges being way down in the less than a thousand satoshis per coin range) ?

-MarkM-

On cryptsy you have:

0.00000051   18.71053455 BTC
0.00000050   64.23634161 BTC

That is a ridiculous amount of BTC to spend on a coin that has only been mined for a bit over a week.  What happens in 1 month,  6 months,  2 years?

It is just surprising how people can't really see which coins are worth investing in long term and which ones are not.

Those bitcoins seem to me very likely to be merely a giving back of a part of the "take", rather than actual "investment", since yesterday over 80 bitcoins were spent on DOGE on Vircurex and today we see less than 80 bitcoins buy wall. The difference between the number  of bitcoins the buywall-placer sold DOGE for yesterday and the number of bitcoins in the buywall might well be their take-home profit for the day.

Meanwhile that buy wall has likely lured many wannabe-buyers into paying 51 or more satoshis for DOGE that the wall bought for 50.

Bear in mind that the wall causes the coin market cap site(s) to show a high market cap for DOGE, leading to people who just blindly buy whatever is near the top of the market cap sites running over to an exchange to buy DOGE for more than the wall is buying them for.

-MarkM-

[FrictionlessCoin]

those buy orders as few as there are are for big amounts, while the sell orders are quite small.

That might be because one buys billions for (if possible) a satoshi each, then posts sell orders at every satoshi of price on the sell side, so you have a billion "sell one coin" orders at a billion different prices on the sell side for each billion coins you buy on the buy side.

Or are you looking at the total depth, the entire pile of sell orders all the way up into stratospheric prices (including those that people aren't bothering to type in on any exchanges yet due to current going rate on exchanges being way down in the less than a thousand satoshis per coin range) ?

-MarkM-

On cryptsy you have:

0.00000051   18.71053455 BTC
0.00000050   64.23634161 BTC

That is a ridiculous amount of BTC to spend on a coin that has only been mined for a bit over a week.  What happens in 1 month,  6 months,  2 years?

It is just surprising how people can't really see which coins are worth investing in long term and which ones are not.

Those bitcoins seem to me very likely to be merely a giving back of a part of the "take", rather than actual "investment", since yesterday over 80 bitcoins were spent on DOGE on Vircurex and today we see less than 80 bitcoins buy wall. The difference between the number  of bitcoins the buywall-placer sold DOGE for yesterday and the number of bitcoins in the buywall might well be their take-home profit for the day.

Meanwhile that buy wall has likely lured many wannabe-buyers into paying 51 or more satoshis for DOGE that the wall bought for 50.

-MarkM-

Why would the seller buy back?

[Amph]

could be someone with a large numbers of doge , and it does not want that they lose their value, so he created a buy wall.

[markm]

Why would the seller buy back?

So they don't have to waste their precious electricity, limited as it is by the amperage the power lines into their house or datacentre can supply, on crapcoins they can pick up on exchanges cheaper than they can sell them on exchanges?

I didn't bother mining DOGE for example, why would I when I can pick up millions dirt cheap on the way up sell them higher up and pick them back up again cheap again on the way down, leaving me with as many or more than I bought initially plus a bunch of bitcoins of profit?

-MarkM-

[vrm86]

it's on it's way out. I think IFC and COL are worth more at this point. hell, it's gone straight down since it listed.

COL dev is leaving his project, so I'm not sure if this coin has bright future.

https://bitcointalk.org/index.php?topic=279601.msg4097322#msg4097322

[dupee419]

it's on it's way out. I think IFC and COL are worth more at this point. hell, it's gone straight down since it listed.

COL dev is leaving his project, so I'm not sure if this coin has bright future.

https://bitcointalk.org/index.php?topic=279601.msg4097322#msg4097322

it was an example, IFC and COL are 2 of the lowest value coins on the market, but DOGE is worth even less

[markm]

It is supposed to be worth less, that is the whole point of having a large number of coins per block.

It should be worth about a tenth of what DeVCoin is worth; don't pay more than one DeVCoin per ten DOGE and you should be fine, IF they support it and promote it and keep plugging away at it and building things around it and so on as long term doggedly as the DeVCoin folks do for DeVCoin.

If they abandon it, well fine, it is in Vircurex fergoshsakes, do you think all the "reputable" coins that managed to convince Vircurex to list them are likely to let a coin on Vircurex die a horrible death if they can find any way to prevent it? Think how much value all those coins will lose if Vircurex starts being regarded as just another scam-central, leading to folks thinking all the other coins there are probably also scams?

-MarkM-

[Kungfucheez]

Just to clarify for people who may not know

Buy and Sell orders you see are the sum totals of various peoples orders. It's not just one person buying 50 BTC of doge, it's many peoples orders to buy or sell at whatever price it is.

Just in case someone doesn't know this already lol

[FrictionlessCoin]

It is supposed to be worth less, that is the whole point of having a large number of coins per block.

It should be worth about a tenth of what DeVCoin is worth; don't pay more than one DeVCoin per ten DOGE and you should be fine, IF they support it and promote it and keep plugging away at it and building things around it and so on as long term doggedly as the DeVCoin folks do for DeVCoin.

If they abandon it, well fine, it is in Vircurex fergoshsakes, do you think all the "reputable" coins that managed to convince Vircurex to list them are likely to let a coin on Vircurex die a horrible death if they can find any way to prevent it? Think how much value all those coins will lose if Vircurex starts being regarded as just another scam-central, leading to folks thinking all the other coins there are probably also scams?

-MarkM-

Vircurex tends to list based on hash rate.  Dogecoin is like the 3rd or maybe even 2nd most mined scrypt coin.

So, it does mean it has a lot of support.   All I am saying is that the price will go down in the short term,  there are just too many coins.  Now if the marketcap remains the same, that would be an amazing feat!

[LiteCoinGuy]

Are you guys so naive? Doge was a hype. A bubble. It is worthless. Find a coin that has something new. Not another scrypt copy coin that you hope it will go off somehow...

wait some months, then its dead.

[gnode]

Lots of money getting thrown around on DOGE.

Consequently, price movement will be very constrained.


Take some of that BTC sitting on the buy side and buy something like GDC.

GDC can easily go to 2000 from 300. A big gainer. Doge might go up 5.