The demise of DOGE and how it is affecting our income

[brooklynite]

So as of this morning, my 2.6MH/s RIG that used to produce avg $23/day has suddenly dropped to $13/day (based on Coinbase USD prices and me mining profitable coins shown on coinwarz and actively switching between the top coins). I am struggling to find coins that are not on coinwarz to I can mine those and be safe from the crowd impact but they are becoming harder to find. SMC, LEAF, DOGE, DGB were my favorites with all constantly returning $23 avg after electricity.

Are we feeling the impact of the DOGE community abandoning DOGE mining and pouring all over other coins? Just like the massive traffic around a sports stadium after a sold out game ends?

Can someone please make a popular coin so it fills hte void created by the DOGE demise? Contrary to what a lot of people think, it is great that we have new shitcoins come out every day otherwise the income from LITECOIN alone would've been negative already with the huge crowd doing Scrypt mining. In other words, please make shit coins like MOON and take away the hashing power so we can breath!

OR

Is this sudden increase in massive NET hash power overnight because of the flood of new AMD GPUs that are getting delivered, or becoming more in stock lately with tons more scheduled for delivery by the end of Feb at most online stores?

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[amarian12]

What you are doing now is wrong, ask yourself what happened to those who sold Bitcoin when it was $ 1-2

I have not sold and will not sell anything for at least 6-8 months, after that i can analyze what to do.

The price is low for all the coins only because too many throw them on the market as soon as they arrived 

[Eex77]

The reason you aren't seeing as much money is probably due to the block reward halving people will quit mining due to this, and the fact that the limited supply is now gone

[YourMine.org]

What you are doing now is wrong, ask yourself what happened to those who sold Bitcoin when it was $ 1-2

I have not sold and will not sell anything for at least 6-8 months, after that i can analyze what to do.

The price is low for all the coins only because too many throw them on the market as soon as they arrived 

 Indeed.

[XbladeX]

What you are doing now is wrong, ask yourself what happened to those who sold Bitcoin when it was $ 1-2

I have not sold and will not sell anything for at least 6-8 months, after that i can analyze what to do.

The price is low for all the coins only because too many throw them on the market as soon as they arrived  

The reason you aren't seeing as much money is probably due to the block reward halving people will quit mining due to this, and the fact that the limited supply is now gone

You are right but when we compare inflation rate of coins then you will find out that inflation will be far away less than other big ones.
Do you believe that you will live 100+ years to see when supply of Doge and Bitcoin will be equal ?
In this article article there is very interesting sentence about supply bitcoin and Dogecoin:

"Do you want to take a guess at which year Dogecoin will catch up to Bitcoin in total monetary supply added?
The year 2174."

http://tuxedage.wordpress.com/2014/02/06/a-serious-analysis-of-dogecoin-or-why-i-am-all-in-on-dogecoin/

... so think twice what could get better value in future.

------------------------------------------------------------------------------------------------------
Today after 2 month Dogecoin is popular mark - 0 premine all had equal chances but not many believed in it.
Doge  price exploded and in 2 weeks many people jumped into train.
Do you know HOW many you will need pay for that media attention normally ?I think is much more than is current market cap of all Doges out seriously.
I have many coins but personally i like Doge more than others because all what Doge achieved was driven by community
no premine money for bounties and investors.
In opposite we have coins like quark mined out in 98% end everywhere where someone advice buying quark you find someone telling you f. that is premine scam
even it is interesting coin but bad karma is always after it.
By the way to keep Doge alive we don't need 200Ghs speed.

[galbros]

Yes it looks like the DOGE block reward being cut in half got you.

I agree, altcoins give miners great outlets for their hashing power.  However, I doubt you'll see another Doge.

Good Luck.

[XbladeX]

Yes it looks like the DOGE block reward being cut in half got you.

I agree, altcoins give miners great outlets for their hashing power.  However, I doubt you'll see another Doge.

Good Luck.

History like repeats .
But here we need big community to repeat that that makes it so damm hard.
You can buy people by money but taking their hearths a way harder to do.

[brooklynite]

What you are doing now is wrong, ask yourself what happened to those who sold Bitcoin when it was $ 1-2

I have not sold and will not sell anything for at least 6-8 months, after that i can analyze what to do.

The price is low for all the coins only because too many throw them on the market as soon as they arrived 

Selling or holding is irrelevant to what I'm saying.

I'm saying I was making 0.028 BTC /day and now its 0.018 BTC/day overnight (before power). There is a sudden overnight increase in hashrate.

[brokedummy]

Doge is doing way better than anybody could have ever hoped for. You were lucky to be making $23 a day, and you are still lucky to make $12. Another month and you will be down to $5, regardless of how many shitcoins are made. The money has to come from somewhere. It's not like each shitcoin is bringing in new money. A dogecoin is rare, the rest of these shitcoins are bought by the same group of speculators, and adding a hundred new coins a day isn't going to magically bring in new money.

[WompRat]

I will be interested to see what you decide to do.  When bitcoin halved in  November 2012, a number of people mined at a loss until the price increased, but there were far fewer coins back then.  Demand for dogecoin has been nothing short of staggering for weeks, so I think we will see that reflected in the price in a few days.  Doge is still growing at about 1% a day in terms of addresses on the chain with money.  That is far higher than any other coin.  

[brooklynite]

Doge is doing way better than anybody could have ever hoped for. You were lucky to be making $23 a day, and you are still lucky to make $12. Another month and you will be down to $5, regardless of how many shitcoins are made. The money has to come from somewhere. It's not like each shitcoin is bringing in new money. A dogecoin is rare, the rest of these shitcoins are bought by the same group of speculators, and adding a hundred new coins a day isn't going to magically bring in new money.

The money sadly comes from those who spent $15,000 on BFL and other ASIC equipment and now making only 0.01 BTC/day but they still run it bcase it has no reasonable resale value.

If BTC owners decided not to buy alts then shitcoins would die.

If a DOGE - US$ trading exchange opens up then BTC would die.

[cubicdissection]

If a DOGE - US$ trading exchange opens up then BTC would die.

Haha that's a good one mate 

[hellscabane]

Doge is doing way better than anybody could have ever hoped for. You were lucky to be making $23 a day, and you are still lucky to make $12. Another month and you will be down to $5, regardless of how many shitcoins are made. The money has to come from somewhere. It's not like each shitcoin is bringing in new money. A dogecoin is rare, the rest of these shitcoins are bought by the same group of speculators, and adding a hundred new coins a day isn't going to magically bring in new money.

The money sadly comes from those who spent $15,000 on BFL and other ASIC equipment and now making only 0.01 BTC/day but they still run it bcase it has no reasonable resale value.

If BTC owners decided not to buy alts then shitcoins would die.

If a DOGE - US$ trading exchange opens up then BTC would die.

Huh. You may want to reference a mining calculator. When KNC's Jupiter was released, it was set to hash at 500 Gh/s and you could get it for $8k. Even right now, that gets nearly 0.1 BTC/day. Scale accordingly for $15k.

Not sure how you got your numbers...

[hellscabane]

If a DOGE - US$ trading exchange opens up then BTC would die.

Haha that's a good one mate 

Indeed. Let me try a pun...

The hash is strong with this one.

Ha ha...

[Mind you, I'm only responding in this manner because of the blatant FUD of the post...]

[cubicdissection]

The hash is strong with this one.

Heh, this place needs an upvote button 

[Izerian]

The hash is strong with this one.

Heh, this place needs an upvote button 

Agreed

[Vivisector999]

It's not that Network hashrate has doubled overnight, it's that DOGE went through it's first halving. 

This is the way most Cryptocurrencies reward early adopters and/or increase the value of the coin.

The reward is random, but where the other day the reward was between 1-1,000,000 DOGE coins, it's now going to be 1-500,000 DOGE Coins.   And then while later it will be 1-250,000 DOGE coins and so on. 

What it is supposed to do is make the coin more rare, which should increase the value of the coin.  If you think Market cap, which alot of people believe in,  There use to require X number of dollars in the DOGE currency to keep it at its current value.  Now that amount required is half what it used to be, so it should allow the entire value of the coin increase.   In a perfect world/vacuum it would take a coin worth 250 Satoshi, and eventually make it worth 500 Satoshi. 

It's not dead yet, but from seeing the network hash rate and difficulty diving you would think it was.   

[WompRat]

If a DOGE - US$ trading exchange opens up then BTC would die.

Haha that's a good one mate 

You guys do know there are several DOGE/USD exchanges right? I personally have used Vault of Satoshi and can vouch for it.  Bought some DOGE with dollars,  no problem.  There is another in Hong Kong called ANXPRO which deals in more currencies such as UK GBP to DOGE, but I don't know anything about them.  More are coming on stream soon. 

[brooklynite]

It's not that Network hashrate has doubled overnight, it's that DOGE went through it's first halving. 

This is the way most Cryptocurrencies reward early adopters and/or increase the value of the coin.

The reward is random, but where the other day the reward was between 1-1,000,000 DOGE coins, it's now going to be 1-500,000 DOGE Coins.   And then while later it will be 1-250,000 DOGE coins and so on. 

What it is supposed to do is make the coin more rare, which should increase the value of the coin.  If you think Market cap, which alot of people believe in,  There use to require X number of dollars in the DOGE currency to keep it at its current value.  Now that amount required is half what it used to be, so it should allow the entire value of the coin increase.   In a perfect world/vacuum it would take a coin worth 250 Satoshi, and eventually make it worth 500 Satoshi. 

It's not dead yet, but from seeing the network hash rate and difficulty diving you would think it was.   

I didnt say network hash doubled, in fact I stated the opposite. DOGE difficulty went from 1900 to 1200 overnight so many people left mining it. Its value ALSO dropped from 270ish to 230ish. So Satoshi's assumption did not work. The value woulnt go from 250 to 500 overnight because people didnt work that hard to make it. In the future few months it may go up there but not right away.

Rarity in Crypto does not produce value. Look at the very rare 42 Coin, its crap. Look at DOGE, billions available and being produced daily and even they mentioned there will be no cap in production of it out of thin air, and STILL the value went up.

[Xenopus]

"Demise" is a bit of a overstatement, no? Squashed small-scale mining profitability, more like.