Bitcoin trending down. Dogecoin trending up.

[chesthing]

Doge doesn't have to be 'the winner', it just needs to form a niche and be useful to achieve a value of a penny or more. Moving value around quickly and cheaply is the whole point to this, no? or are you naive enough to think bitcoin will create a transfer of wealth and freedom back into the hands of the people? please.

[derpinheimer]

Doge doesn't have to be 'the winner', it just needs to form a niche and be useful to achieve a value of a penny or more. Moving value around quickly and cheaply is the whole point to this, no? or are you naive enough to think bitcoin will create a transfer of wealth and freedom back into the hands of the people? please.

So either the Doge/BTC exchange rate increases nearly 700%, or Bitcoin goes up 700%... so Doge can cost 1c.

Makes total sense. I should go make a coin with a cap of 100 trillion. Dimwits like you will be convinced its undervalued at 1/1000th of a cent. IT HAS TO BE WORTH A CENT!?!? IT JUST HAS TO!!!

[pungopete468]

Doge doesn't have to be 'the winner', it just needs to form a niche and be useful to achieve a value of a penny or more. Moving value around quickly and cheaply is the whole point to this, no? or are you naive enough to think bitcoin will create a transfer of wealth and freedom back into the hands of the people? please.

I'm having a hard time keeping up with your point here...

We must have been thinking of two completely different problems when you asked about Bitcoin and Dogecoin referring to the problems that one could solve absent the other...

I hope Doge does get a niche, and I hope plenty of people can prosper from it. People can learn about the "ease of use" with Dogecoin because they can just toss it around without feeling any remorse and then graduate into Bitcoin.

Bitcoin might not win the currency race, but you can guarantee whatever currency prevails will be a better "transfer of wealth and freedom back into the hands of the people" as you put it. The roots within that statement are the most powerful human force on Earth. You can be very sure that people will choose to use whichever contender suits that purpose the best.

[knightcoin]

I don't know what the transactions are used for and I don't care. What matters is people are paying attention to it and using it, and spreading the word. No matter how annoying it is to bitcoin snobs, this is what needs to happen on a huge scale for any crypto to ever come close to being mainstream. Marketing rule of 7 - people need to see something 7 times before it registers and all that rot.

This is true for most consumer products or brands. The rule of 7 is a good rule, but it mostly applies in situations where consumers are complacently making day-to-day transactions and not really paying close attention to anything outside of their little bubble.

If you apply the rule of 7 to things based on ideology or necessity it falls apart quickly. I think many people will realize the necessity of decentralized crypto currencies while using Dogecoin or Bitcoin; the only difference is that Dogecoin has no hope of maintaining a consumer base once the users determine crypto currency is considered a necessity.

Imagine Dogecoin as a Global Reserve Currency... It's absolutely not going to happen. Human psychology would literally block it out with full force.

I'm not saying Dogecoin is bad; on the contrary. It's like a doorway to crypto for a large number of people. It's a good thing for the long term.

I'm illustrating my opinion as to why I don't consider it to be a contender with Bitcoin in the global finance arena...

Psychologically, people would rather put their life's wealth into a currency used by all manners of snobby, greedy, and elitist people rather than a currency based on a funny dog meme...

I'm sure there are plenty of people here who will disagree with my opinion.

who knows?? may be in 500 years or less LoL
Remeber Idiocracy_money ?

[knightcoin]

To resume ...

idiocracy Dr. Lexus
http://www.youtube.com/watch?v=qkPGlVqqEP0

[pungopete468]

haha

That's a perfect example of a world with a Dogecoin Reserve Currency!

We could change the title of the thread.

/World intelligence trending down. Dogecoin trending up.

[TPN]

Dogecoin will for sure be the 2. Coin after BTC

[stompix]

Dogecoin will for sure be the 2. Coin after BTC

Yeah , probably both 2 and 3 right now as it's experiencing one nice hardfork.

[DanielVG]

I wouldn't be surprised when dogecoin becomes a religion.
doing great, i'd say.

[eltopo]

Arguments:

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

[stompix]

Arguments:

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

Serious and Dogecoin in one phrase. And you don't see anything wrong with it ? ))

[chesthing]

Doge doesn't have to be 'the winner', it just needs to form a niche and be useful to achieve a value of a penny or more. Moving value around quickly and cheaply is the whole point to this, no? or are you naive enough to think bitcoin will create a transfer of wealth and freedom back into the hands of the people? please.

I'm having a hard time keeping up with your point here...

We must have been thinking of two completely different problems when you asked about Bitcoin and Dogecoin referring to the problems that one could solve absent the other...

I hope Doge does get a niche, and I hope plenty of people can prosper from it. People can learn about the "ease of use" with Dogecoin because they can just toss it around without feeling any remorse and then graduate into Bitcoin.

Bitcoin might not win the currency race, but you can guarantee whatever currency prevails will be a better "transfer of wealth and freedom back into the hands of the people" as you put it. The roots within that statement are the most powerful human force on Earth. You can be very sure that people will choose to use whichever contender suits that purpose the best.

Quote from 'Wallstreet' "the rich have been sticking it to the poor since the beginning of time." Bitcoin isn't going to change that, sorry. By the time we have a crypto as the world currency you can bet the same bastards who own everything now will own that.
Basically I give btc a very small shot at being worth $10k someday, I give Doge a bigger chance to reach a penny. Doge does not need btc to succeed, fiat currency and doge will trade easily soon. That's all, I'm done with this discussion - Doge may be worthless in a couple months but I really doubt it - if it is I'll mine the next harmless but useful coin that takes it's place.

[stompix]

Doge doesn't have to be 'the winner', it just needs to form a niche and be useful to achieve a value of a penny or more. Moving value around quickly and cheaply is the whole point to this, no? or are you naive enough to think bitcoin will create a transfer of wealth and freedom back into the hands of the people? please.

I'm having a hard time keeping up with your point here...

We must have been thinking of two completely different problems when you asked about Bitcoin and Dogecoin referring to the problems that one could solve absent the other...

I hope Doge does get a niche, and I hope plenty of people can prosper from it. People can learn about the "ease of use" with Dogecoin because they can just toss it around without feeling any remorse and then graduate into Bitcoin.

Bitcoin might not win the currency race, but you can guarantee whatever currency prevails will be a better "transfer of wealth and freedom back into the hands of the people" as you put it. The roots within that statement are the most powerful human force on Earth. You can be very sure that people will choose to use whichever contender suits that purpose the best.

Quote from 'Wallstreet' "the rich have been sticking it to the poor since the beginning of time." Bitcoin isn't going to change that, sorry. By the time we have a crypto as the world currency you can bet the same bastards who own everything now will own that.

And you think doge coin will bring equilibrium and wealth redistribution.
Top 100 Richest Addresses    22,185,998,666 DOGE ($31,353,896 USD) 43.45% Total
Top 100 Richest Addresses    2,634,329 BTC ($1,681,655,602 USD) 21.24% Total

[chesthing]

No, I don't have those aspirations about any crypto - you do. Now I'm really done with this, let's just see what happens and report back a year from now.

[DeathAndTaxes]

I'll ask again. What problem does *Bitcoin* solve that Doge does not?

It isn't that Bitcoin solves a different problem it is that is solves it better.

How many merchants accept Bitcoin, how many accept Doge?  How many well run, highly capitalized solution providers like BitPay are building infrastructure around Bitcoin?  How many around doge?  Building large scalable businesses requires capital.  How many private equity offering for companies that build Bitcoin related services have happened vs doge?  I think you get the point.

There is something called the network effect and no passing a few pennies between users isn't a network effect.  Bitcoin is still in the infancy but the number of merchants willing to accept it is growing.  As long as it is growing the network effect will grow with it.  When an Overstock, Wordpress, or even Kongregate starts accepting Doge you might have a point.  Does this mean Bitcoin is the one currency to rule them all? No.  I think it is possible superior alternatives will either co-exist or replace Bitcoin but they will need to be truly superior alternatives.

Your logical fallacy would be like me inventing a totally incompatible cellphone called a dogephone and this dogephone works just like a cellphone except the only people you can call is other people who have a dogephone.  Most of the people on the planet, have no interest in getting a dogephone because their cellphone works just fine.  When you point that out to me I say "what problem does a cellphone solve that Dogephone does not?"  It is a logical fallacy because while the answer may be none, it is a completely meaningless answer.

[stompix]

I'll ask again. What problem does *Bitcoin* solve that Doge does not?

It isn't that Bitcoin solves a different problem it is that is solves it better.

How many merchants accept Bitcoin, how many accept Doge?
How many well run, highly capitalized solution providers like BitPay are building infrastructure around Bitcoin?  How many around doge?

There is something called the network effect and no passing a few pennies between users isn't a network effect.  Bitcoin is still in the infancy but the number of merchants willing to accept it is growing.  As long as it is growing the network effect will grow with it.  When an Overstock, Wordpress, or even Kongregate starts accepting Doge you might have a point.

Your logical fallacy would be like me inventing a totally incompatible cellphone called a dogephone and this dogephone could only be used to call other people who have dogephones.  Right now 99.99999999999999999% of the people on the planet have no interest in getting a dogephone because their cellphone works just fine.  When you point that out to me I say "what problem does a cellphone solve that Dogephone does not?"

Loved that.
Besides , I would think we should focus more on the problem that doge creates , transforming the whole crypto system in a laughing joke.
Bitcoin has just got ridden of a lot of ponzi scheme and drug coin accusation , and now , this. ((

[DeathAndTaxes]

Doge doesn't have to be 'the winner', it just needs to form a niche and be useful to achieve a value of a penny or more. Moving value around quickly and cheaply is the whole point to this, no? or are you naive enough to think bitcoin will create a transfer of wealth and freedom back into the hands of the people? please.

I'm having a hard time keeping up with your point here...

We must have been thinking of two completely different problems when you asked about Bitcoin and Dogecoin referring to the problems that one could solve absent the other...

I hope Doge does get a niche, and I hope plenty of people can prosper from it. People can learn about the "ease of use" with Dogecoin because they can just toss it around without feeling any remorse and then graduate into Bitcoin.

Bitcoin might not win the currency race, but you can guarantee whatever currency prevails will be a better "transfer of wealth and freedom back into the hands of the people" as you put it. The roots within that statement are the most powerful human force on Earth. You can be very sure that people will choose to use whichever contender suits that purpose the best.

Quote from 'Wallstreet' "the rich have been sticking it to the poor since the beginning of time." Bitcoin isn't going to change that, sorry. By the time we have a crypto as the world currency you can bet the same bastards who own everything now will own that.

And you think doge coin will bring equilibrium and wealth redistribution.
Top 100 Richest Addresses    22,185,998,666 DOGE ($31,353,896 USD) 43.45% Total
Top 100 Richest Addresses    2,634,329 BTC ($1,681,655,602 USD) 21.24% Total

The situation will get even worse over time.  Doge was designed with an incredibly steep subsidy drop off.  50% of coins were mined in the first month.  75% will be mined in the first couple months.  99%+ in the first year.   Someone getting involve in doge in 2015 would be like someone getting involved in Bitcoin in 2108.    The first block subsidy was up to 1M coins (random).  Less than a year later it will be a fixed 1 coin. 

[stompix]

Doge doesn't have to be 'the winner', it just needs to form a niche and be useful to achieve a value of a penny or more. Moving value around quickly and cheaply is the whole point to this, no? or are you naive enough to think bitcoin will create a transfer of wealth and freedom back into the hands of the people? please.

I'm having a hard time keeping up with your point here...

We must have been thinking of two completely different problems when you asked about Bitcoin and Dogecoin referring to the problems that one could solve absent the other...

I hope Doge does get a niche, and I hope plenty of people can prosper from it. People can learn about the "ease of use" with Dogecoin because they can just toss it around without feeling any remorse and then graduate into Bitcoin.

Bitcoin might not win the currency race, but you can guarantee whatever currency prevails will be a better "transfer of wealth and freedom back into the hands of the people" as you put it. The roots within that statement are the most powerful human force on Earth. You can be very sure that people will choose to use whichever contender suits that purpose the best.

Quote from 'Wallstreet' "the rich have been sticking it to the poor since the beginning of time." Bitcoin isn't going to change that, sorry. By the time we have a crypto as the world currency you can bet the same bastards who own everything now will own that.

And you think doge coin will bring equilibrium and wealth redistribution.
Top 100 Richest Addresses    22,185,998,666 DOGE ($31,353,896 USD) 43.45% Total
Top 100 Richest Addresses    2,634,329 BTC ($1,681,655,602 USD) 21.24% Total

The situation will get even worse over time.  Doge was designed with an incredibly steep subsidy drop off.  50% of coins were mined in the first month.  75% will be mined in the first couple months.  99%+ in the first year.   Someone getting involve in doge in 2015 would be like someone getting involved in Bitcoin in 2108.    The first block subsidy was up to 1M coins (random).  Less than a year later it will be a fixed 1 coin.  

Well , I can't agree with you on the last thing.
The doge creator is known for not having a clue about what the variables were supposed to mean. He has mistaken those for months and suddenly decided that is better with an uncapped coin rather than a capped one , like he originally thought he has created.
With this , and the amount of hardforks this coin gets , i'm sure that by 2015 we will have more than 5 trilions doge and a 10% inflation , to please the crowd , more coins such wow etc.

[DogecoinUK.com]

I've read all these replies, and to be honest there's alot of speculation here being touted as fact. No one knows the future, I mean how likely did it seem for bitcoin to be worth the amount it is right now in the beginning? I remember back when people were under the impression that it had no inherent value, which is plausible because it's not backed by anything of real worth; yet, it's value increased solely by virtue of the value people attached to it.

The value of bitcoin could tank or it could go further up, the same as Dogecoin, the future is undetermined. So the common phrase, "don't put all your eggs in one basket" rings true for me here. Considering that Dogecoin is a small investment in comparison to bitcoin, it certainly appears less risky, a small amount of money could potentially give hefty gains later on, if not no big deal. I believe this is the mentality of alot of people buying into dogecoin right now.

Lastly, I personally see Dogecoin and Bitcoin as two completely different markets. Bitcoin with its emphasis on limited supply gives the impression of a store of value somewhat akin to gold hoarders. Whereas DogeCoin with its yearly increase in supply will rather act as a currency people will be willing to use and transact with on a daily basis much like regular fiat currency.  Both have their pros and cons...

[eltopo]

Arguments:

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

Serious and Dogecoin in one phrase. And you don't see anything wrong with it ? ))

So you've managed to read the headline! Congrats! Much wow!