winter is cold and it snows

[hostmaster]

DOGe uses subliminal messages very well and thus liked by many and attracks owning. The more demand the price increases.

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[DieJohnny]

I doubt 5% of the world even knows what bitcoin is.

57% of brits do, which is already a high percentage of one population.
In the world? I'm not so sure about that. You just have a big percentage of people who can't read, write, use a computer..

The block reward for doge should halve soon if I'm correct.

57% of brits know what bitcoin is and 100% of people eat food everyday.


I don't know what's worse the statistics people make up or the people who believe them

Its the people....ummm wait...yes, yes.... the people are worst

[tk808]

I doubt 5% of the world even knows what bitcoin is.

57% of brits do, which is already a high percentage of one population.
In the world? I'm not so sure about that. You just have a big percentage of people who can't read, write, use a computer..

The block reward for doge should halve soon if I'm correct.

57% of brits know what bitcoin is and 100% of people eat food everyday.

I don't know what's worse the statistics people make up or the people who believe them

He was quoting a real survey.  http://www.coindesk.com/most-brits-aware-bitcoin/

The survey is real, but it does not encompass the entire population.

I quote "2,000 online shoppers quizzed" Now let me break this down for you.



Breakdown

When they quizzed these 2,000 shoppers, what website it was on? A certain type of person of a certain status are more likely then others to access this website. Basic cultural anthropology.

Now, besides what type of site because it was most likely a tech site, a bitcoin quiz is not going to be on a barbie or clothing store site; a certain age and gender would even go onto a shopping site that has a quiz about a Digital Currency. Get the picture?

Let's break it down even further.

At what time of day was the survey taken? Now this again splits the segment of the population even further, due to schedules.. work and mostly everything basically.

Who is more incline to take a survey about bitcoin? A person who has never heard of bitcoin? Well the word Bitcoin would have no meaning to them, therefore no inherent value or gain from taking this survey.


A more likely scenario would be someone who in fact has heard of bitcoin, and is willing to spend time to gain (in his or her own way) by taking the survey.



Summary Statement

Type of person shops on website (X) at time of day (Y) age group were these shoppers (Z) bitcoin awareness (A) and probably thousands of other variables that anyone can think of. This all effects the overall statistic.





Therefore, the statement of "57% of brits are aware of bitcoin" is false.




You get the basic idea i'm trying to convey. I broke down the reason WHY statistics are most likely bullshit. It appeals to a very very small isolated segment of the population.

[cubicdissection]

As I see it...

Pros:
1. Hell of a community, young, motivated, plugged into a lot of media.  Very strong brand.  Never discount it.
2. China exchanges picking it up increases demand just as a reward halving decreases supply.
3. Dogewand.  If it is ported to Facebook and other social networks, demand for Dogecoin could increase exponentially.

Cons:
1. Large amounts of early mine coin in relatively few hands.  If the outlook sours they will probably dump and the market could be crashed.
2. Memes can be in one day and out aother.
3. Very inflationary coin which doesn't really have any technical innovations.

I was in at 160ish and out at 250ish.  May consider buying again; I could see 300+ if china demand keeps up after the reward halving and 500+++ if dogewand works and is picked up on other social networks.  Right now I think Vertcoin and Kittehcoin are better short term bets; I would put Doge in third place.  

Medium to long term I like Protoshares and Counterparty (XCP).

[WompRat]

I highly doubt there are paid posters.  Spamming forums at the beginning of a coin's life is what everybody does.  It is absolutely in the interests of the founders and first miners to do this, they don't need to be paid.  I think there is a good argument to make that this wasn't intended to be anything more than a short term pump, but by accident or design, it found a niche.

One of the key players driving the dogecoin economy appears to be moolah.ch.  They seem to have big ambitions (atms, a payment processor, mobile wallets, tipbots and many other things) , but I am not sure how much capital they have behind them. I am just surprised so many people write this coin off because of a marketing gimmick.

[cebb]

I was a dogehater since the day it was released. I made fun of all the doge supporters and thought they were just trolls. I assumed the price will crash soon because once the premined coins dump on market there is no bottom. I also thought that there is no way dogecoin community can bring in enough suporters so as to keep the price from falling since almost a billion coins are generated every day. Then a strange thing hapened while I was bashing dogecoin a usual on reddit bitcoin.

A dogecoin supporter tipped me 1000 dogecoins. That was when dogecoin was at 60 satoshi hence wasnt much in btc really. I thought i would put a post on dogecoin subreddit and ask for anyone to comment and convince me why dogecoin would succeed and why should i believe its not a pump and dump coin. My post received more than 100 comments and to my surprise all comments were polite and provided fair explaination. I even got 3500 more dogecoin tipped for the post.

Since then I have been hooked to the community and have donated more than 100,000 coins to various charities sponsored by dogecoin community and tipped more than 50,000 coins to newbies to welcome the community.

I think its this chain reaction that keeps dogecoin going. I am not a polite person in real life and I usually show my true colours while I am at bitcoin subreddit. However whenever I am commenting or posting on dogecoin subreddit there is something that keeps me always positive and happy.

Dont believe me, fine. Just put a post at dogecoin subreddit saying that you are new to dogecoin. Just that nothing else and see how the love pours in tips and welcome notes.

P.s. I found out later that dogecoin is not at all premined and thats when I converted by btcs to dogecoins.

[romerun]

doge reward is halved every 2 weeks or so that creates an illusion that it will getting scarce pumping up the price, I'm pretty sure that by the time btc reward about to be halved in 2016, btc will be close to 100k a coin. Imagine this halving happens to dog few times a month. Doge was supposed to be all mined in a year, so scarce, omg . Not sure what going to happen after dat, I hear devs left it to 10k per block infinitely, but dat might not be enough incentive to miners, I bet devs can switch their mind few times at will as shibes never care, much concern. That's the beauty of it.