winter is cold and it snows

[GameKyuubi]

I do not understand how or why dogecoin has the price it has, nor why it might increase in price.

I reason that other coins can do whatever it is that dogecoin might do, so I really do not see the value.


One thing I do perceive, is that it seems that dogecoin has multi-millionaire backers who are buying the coin.
But, why are they buying it? What are their plans? Who are the multimillionaire backers of dogecoin?
Why would they chose a name like dogecoin(when they could have chosen from many other seemingly better names for a coin? )

I cannot bring myself to invest in dogecoin, not at current prices, and even at 1/10th current prices, I saw the coin as way over-priced.

So, I am seeing dogecoin price increase, with current info, as being extremely delusional or a very strange pump of a coin by millionaires.

Some people care to explain more please ?

There's not much to it, really.  DOGE is exactly the same as many coins in that the protocol doesn't offer anything new.  The only huge difference is that people like it, probably stemming, way back in the beginning, from the DOGE meme and just how silly the whole thing was.  People were looking for a smile during hard times and they found it in DOGE.  That spiraled into a vivid, diverse community willing to spend it just for fun, and now it's actually got real value and use.  It was a perfect storm of sorts.  It flew in the face of all the clones that were trying to take themselves too seriously, and in that way, became unique and serious underpinned by how much fun the community was having rooting for the underdoge.

[mek300]

Technology has nothing to do with this. But dogecoin now has one of the largest communities out there and they are all ardent, almost fanatical supporters/promoters of the coin. Don't think this is done going up.

So you are wheat, that doesn't mean there is no weed there.

[tk808]

Everyone should know something about DOGE:

There are major high stake traders in the DOGE game, they ride on the psychological and social waves of the coin. Doge is being support by these kind of people, they have little or no interest on what DOGE represents and means to people.. they are only in for the large amounts of profits to be made

Contrary to what people think, it's not the average person who likes cute doge pictures, they are merely the funnels for the piggy banks.

[GameKyuubi]

Everyone should know something about DOGE:

There are major high stake traders in the DOGE game, they ride on the psychological and social waves of the coin. Doge is being support by these kind of people, they have little or no interest on what DOGE represents and means to people.. they are only in for the large amounts of profits to be made

Contrary to what people think, it's not the average person who likes cute doge pictures, they are merely the funnels for the piggy banks.

Doesn't this happen with EVERY popular coin?  You have cause and effect reversed.  The coin isn't popular because there are whales in it.  The whales are in it because it is popular.

[DieJohnny]

Everyone should know something about DOGE:

There are major high stake traders in the DOGE game, they ride on the psychological and social waves of the coin. Doge is being support by these kind of people, they have little or no interest on what DOGE represents and means to people.. they are only in for the large amounts of profits to be made

Contrary to what people think, it's not the average person who likes cute doge pictures, they are merely the funnels for the piggy banks.

Doesn't this happen with EVERY popular coin?  You have cause and effect reversed.  The coin isn't popular because there are whales in it.  The whales are in it because it is popular.

+1

[tk808]

Everyone should know something about DOGE:

There are major high stake traders in the DOGE game, they ride on the psychological and social waves of the coin. Doge is being support by these kind of people, they have little or no interest on what DOGE represents and means to people.. they are only in for the large amounts of profits to be made

Contrary to what people think, it's not the average person who likes cute doge pictures, they are merely the funnels for the piggy banks.

Doesn't this happen with EVERY popular coin?  You have cause and effect reversed.  The coin isn't popular because there are whales in it.  The whales are in it because it is popular.

The cause and effect goes both ways, but mainly because of the market giants.

[GameKyuubi]

The cause and effect goes both ways, but mainly because of the market giants.

I agree that it goes both ways, but to say that it started because giants piled in precludes a reason for them to pile into this coin instead of others.  The giants in your version of events are lacking a motive.

[tk808]

The cause and effect goes both ways, but mainly because of the market giants.

I agree that it goes both ways, but to say that it started because giants piled in precludes a reason for them to pile into this coin instead of others.  The giants in your version of events are lacking a motive.

The giants do not need motive now, the markets are activated. The only time the motive was clear, was the initial spike of Doge's value.


Now, it's just a game controlled by a few



So many people are watching doge, that any sudden rise in price will spawn an entire army investors. And you can almost thank bitcoin for that also, BTC is not an exciting quick profit market anymore.

[bitbaron]

There are several things to look at to see why doge is rising. 


First try to stop thinking of doge as a meme or the silly dog, hard I know.  But your mostly asking this because you think the name, the meme, the people or all of the above sound silly.  And why would anyone invest in silly.  Would you be asking the same if Quark or Vertcoin were rising?
Most people can't decouple doge as a currency vs "doge supporter having fun with the meme aspect of it"
- Many company's had their names based or derived from something silly or sounding silly IBM (HAL computer), google, etc.

Lately there has been several pieces of good news for doge, I'm not ranking them in any particular order here, or based on any overall impact.

1. Block split coming up which many people have mentioned and explained to death.
2. Olympic coverage of the Bobsleding will start in a few days and with Doge's generous donation to the Jamaican team, it will likely receive some press coverage on a global scale. http://imgur.com/a/poW9D
3. Doge party on wall street which covered up the bull with a doge logo, made it to business insider (not the first time). http://www.businessinsider.com/dogecoin-party-2014-2
4. Dogecoin now has a lite wallet http://multidoge.org/, which I believe makes it the first altcoin with one.  This is great because new users can jump into the game quickly, without waiting for full blockchain dl.
5. With the dip BTC has been taking, Doge has seemed fairly resistant to the drop unlike with other coins, which is helping it stand on its own.

Finally not new items but my own personal thoughts


- Community, community, community community!  Doge supporters are generally great people and extremely welcoming to new users and they are bringing them in in droves.
- On top of that there new development daily, sites added accepting doge, great buy and sell markets, gambling sites, to really get people using doge as a currency.
- Tipbots for everything are popping up reddit, twitter, fb in the works, which is great gesture, promotes the coin, and bring new people in.
- I personally feed that all those things has allowed doge to act like a currency unlikely bitcoin and several other coin which feel like more of an investment (like gold, stocks etc).  Don't take this as a knock against bitcoin.

- Lastly the crypto community here is a great bunch and very technical but coin adoption from none crypto people are really what matter when we talk about a successful coin, because it drives growth and demand. Anybody new into crypto coins doesn't give a shit about a 51% attack ,ASIC, resistance, checkpoints, a 2% inflation that could happen in 15 years they care about "what does having some of this coin let me do today".

Thanks

[scarface]

because it actually has a community behind it unlike any other shitcoin.

/r/dogecoin at 60,000 subs dont mean anything?

[GameKyuubi]

The giants do not need motive now, the markets are activated. The only time the motive was clear, was the initial spike of Doge's value.


Now, it's just a game controlled by a few

... which is again, just like every coin that gets popular.  If whales are in a coin, it's because it's a popular, profitable coin.  I mean, when you have people coming out in freezing weather to meet about the coin, dress up in costumes, and deface the wall street bull after successfully running large olympic donations it's kind of hard to argue that the coin isn't popular with regular people.

[tk808]

The giants do not need motive now, the markets are activated. The only time the motive was clear, was the initial spike of Doge's value.


Now, it's just a game controlled by a few

... which is again, just like every coin that gets popular.  If whales are in a coin, it's because it's a popular, profitable coin.  I mean, when you have people coming out in freezing weather to meet about the coin, dress up in costumes, and deface the wall street bull after successfully running large olympic donations it's kind of hard to argue that the coin isn't popular with regular people.

To a certain population or segment of people. You only hear about these stories because you are entrenched in the alt-coin world.  This is mainly coming from users on reddit, which has little meaning when it comes to market manipulation. When manipulations do happen, then the people who are hyping or following these stories get in 1by1. Then a bubble/chain reaction occurs with trend and high-frequency trading.

Like i said before, doge is just a fad and all fads die. But i respect everything about Doge.

[wasamata]

Block rewards halving in 2 days so there will be less able to be mined and therefore less able to be sold.
Litecoin is worth 17-18 bucks each, yet doge is worth 0.0017 cents each, yet doge is more popular.
It is therefore cheap.
It has upside.
No other interest in other coins at the moment so everyone just riding the doge wave.
Deleveraging from LTC and BTC into DOGE.
It is the most profitable coin to mine and very stable as opposed to all those stupid Alts
that swing wildly for a minute then back down to unprofitable territory, stuffing up your hashing power when in a switching pool.
1 Doge is worth 0.0017 cents! How is that expensive? I see it going to a cent atleast!

Just my 2 c

[btcmania]

I feel many people that get into cryptocurrency have little experience in how economics work. You can't fall in love with a coin because of its name, i.e. worldcoin fail, or its picture on the coin. Currency of any kind only exists when there is a community that perceives value in a medium of exchange. If 10 people were trapped on an island with 20 rocks, the community of 10 people could decide that those 20 rocks have value and therefore can be used as a medium of exchange for goods or services. Faith in currency and community is what drives value. Fact.

That's a brilliant analogy (really!) - rocks or paper bills I guess it's sort of the same thing when we assign value to them.

Although if there were new rocks of a different colour being washed up on shore every week, wouldn't there be some dilution of the value? We have way too many new coins that will never be used for anything but collecting, for sake of collecting.

[DieJohnny]

I feel many people that get into cryptocurrency have little experience in how economics work. You can't fall in love with a coin because of its name, i.e. worldcoin fail, or its picture on the coin. Currency of any kind only exists when there is a community that perceives value in a medium of exchange. If 10 people were trapped on an island with 20 rocks, the community of 10 people could decide that those 20 rocks have value and therefore can be used as a medium of exchange for goods or services. Faith in currency and community is what drives value. Fact.

That's a brilliant analogy (really!) - rocks or paper bills I guess it's sort of the same thing when we assign value to them.

Although if there were new rocks of a different colour being washed up on shore every week, wouldn't there be some dilution of the value? We have way too many new coins that will never be used for anything but collecting, for sake of collecting.

how many coin types that exist isn't relevant. There are only two coins any human outside of this forum talks about Dogecoin and Bitcoin. Bitcoin only because it is #1.

you have many choices, the world knows of only two and bitcoins are boring

[tk808]

I feel many people that get into cryptocurrency have little experience in how economics work. You can't fall in love with a coin because of its name, i.e. worldcoin fail, or its picture on the coin. Currency of any kind only exists when there is a community that perceives value in a medium of exchange. If 10 people were trapped on an island with 20 rocks, the community of 10 people could decide that those 20 rocks have value and therefore can be used as a medium of exchange for goods or services. Faith in currency and community is what drives value. Fact.

That's a brilliant analogy (really!) - rocks or paper bills I guess it's sort of the same thing when we assign value to them.

Although if there were new rocks of a different colour being washed up on shore every week, wouldn't there be some dilution of the value? We have way too many new coins that will never be used for anything but collecting, for sake of collecting.

how many coin types that exist isn't relevant. There are only two coins any human outside of this forum talks about Dogecoin and Bitcoin. Bitcoin only because it is #1.

you have many choices, the world knows of only two and bitcoins are boring

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

[Lauda]

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.

[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

[WompRat]

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/

[devphp]

Dogecoin compressed time by the factor of 12x. What took BTC and LTC years to achieve, DOGE achieved in months due to its community, that makes it better than LTC at least.
When people say, DOGE doesn't bring anything new, well, true, but it doesn't have to. All it needs to succeed is to take the old from the leaders, to draw userbase to its side, to cut a market share.

After all, all cryptos' value is 50% or more - pure speculation, including the grandfather - Bitcoin. So your question on what gives value to DOGE is equally valid for all of them more or less.
I didn't own a single DOGE 3 weeks ago and was sceptical about it. I've changed my mind since. I may be wrong, you don't always hit the right one in investment. The most important point is - don't listen to anyone's advice on the Internet, do your own due diligence. If you don't understand something, don't invest, because it's a sure way to lose money.