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Author Topic: Is it worth it to mine doge?  (Read 206 times)
yat97
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February 09, 2021, 01:35:08 AM
 #1

I decided to do that since mining most of anything else is out of the question. doge seems to be the easiest to. will 1 doge ever reach 1 dollar? I remember when people were skeptical that bitcoin would ever get to ..... so many ... milestones that it went to.
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February 09, 2021, 04:25:17 AM
 #2

Doge has 125billion as total supply, if each DOGE reach $1, there are $125billion dollars as total marketcap. With current total marketcap is around 1.3T, it's mean around 10% of them are only DOGE coin. Is it make sense? (assuming bitcoin and other coins still same like now)

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February 09, 2021, 04:34:58 AM
 #3

Doge has 125billion as total supply, if each DOGE reach $1, there are $125billion dollars as total marketcap. With current total marketcap is around 1.3T, it's mean around 10% of them are only DOGE coin. Is it make sense? (assuming bitcoin and other coins still same like now)
mining coins that stands with the Highest Volume in market is not the promising place to Mine , because you are correct There must be a 10% of the whole market capitalization must be from Doge this means this coin should be on top number 3 following Bitcoin and Ethereum from the ranks.

OP : There are many coins to consider with small volume , and not this too high and may take a long run before reaching the top.

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February 09, 2021, 07:07:03 AM
 #4

I decided to do that since mining most of anything else is out of the question. doge seems to be the easiest to. will 1 doge ever reach 1 dollar? I remember when people were skeptical that bitcoin would ever get to ..... so many ... milestones that it went to.
If you have enough mining rigs that can pump out thousands of DOGE overnight then you might be in luck.

Ask me, I say the growth in inorganic, because Doge does not have any inherent use of its own currently due to celebrity pressure bullish trend has started and will stay like that for the next couple of days. If you want to do something to take advantage of the hype, do it fast but I would not recommend it.

Inorganic growth means that there will be a huge dump right after the selling pressure overcomes the buying hype. You can be sure there are doge bagholders already selling their loads to the newbies who are foolish enough to fall for the hype. That is how this market works, the cunning fish kills the foolish one.

So you end up mining doge in large number but the hype train goes away while you are at it, you are going to be in a loss. But if you already hold some doge, sell it at around 0.75USD/DOGE you would be in a profit. Currently the last big price of 0.84USD was heavily contested by sellers and price tanked back to 0.7 USD which only proves my assumption that bagholders are selling, NOT buying.

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February 09, 2021, 07:49:12 AM
 #5

It always makes sense to mine if you know for sure that the costs of mining are less than the costs of the coin you can mine,,, in my opinion. And at least there will always be demand for doge,,, at least for the next few years anyway, right? 10% of marketcap though most altcoins not even 1% of that.

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February 09, 2021, 07:52:56 AM
 #6

will 1 doge ever reach 1 dollar? I remember when people were skeptical that bitcoin would ever get to ..... so many ... milestones that it went to.
Bitcoin took most of the doubts on its earliest days because it's the first one that has taken all the criticisms and doubts of the masses. In Dogecoin, reaching $1 is possible but you have to calculate the market cap and its unlimited supply.

If there's a continuous hype on it even without the help of Elon then it will hit that price as soon as possible. And with the current price that it has, it needs only to take x13 to reach $1. But are we going to see that easily for Dogecoin as it has shown lately?




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February 09, 2021, 11:12:20 AM
 #7

I decided to do that since mining most of anything else is out of the question. doge seems to be the easiest to. will 1 doge ever reach 1 dollar? I remember when people were skeptical that bitcoin would ever get to ..... so many ... milestones that it went to.
Doge is not really a bad coin and in recent days it made huge bump which made good profits to the existing miners but since the price becomes already higher you also need to have better power to mine them and if your expense becomes lesser than the profits then sure you can mine or you also can hold them for future but don't forget you should be playing electricity bills from your own pockets in the holding period.
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February 09, 2021, 03:55:26 PM
 #8

To mine Dogecoin you will need a profitable asic miner, you can't mine with graphic cards and buying asic can cost you lots of money, think deeply before choosing this path its way better to just buy doge coins and hold for more gains also when the gains come be contented and fear greed

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February 09, 2021, 04:23:22 PM
 #9

You can't just compare Doge coin to Bitcoin in anyway, both are different in a lot of ways. Bitcoin supply is not like that of Doge and moreover, Bitcoin offers more as well as having more potential than Doge, hence the reason a lot of people in the crypto space holds Bitcoin but same cannot be said of Doge coin. Also, recently, many people might regard Doge coin as a pump and dump coin because looking at the nature of growth in price for days now shows it is. Nevertheless, the difference between Doge current price and $1 is really much as someone might thought thus you shouldn't bank on that,  as earlier stated, the price looks like that of pump and dump. In the case of mining, you need to put some factors into place like the cost of mining rig that will bring better profits as well as the cost of energy, how cheap is it.
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February 09, 2021, 06:55:25 PM
 #10

I decided to do that since mining most of anything else is out of the question. doge seems to be the easiest to. will 1 doge ever reach 1 dollar? I remember when people were skeptical that bitcoin would ever get to ..... so many ... milestones that it went to.

Reaching 1 dollar would be the most impossible thing to happen in DOGE.Im not underestimating the possibilities but if you do try to look up
on the entire supply then its really hard to believe that it would really able to reach such milestone.Imagine on how much you would really be needing
even though DOGE is currently pumping but it would be even hardly to reach $0.1 price.How much more with $1?

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PerfectCircle
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February 10, 2021, 07:36:06 AM
 #11

Doge is useful, even as a meme coin it doesn't stop this coin from getting much love in crypto community, if you have the right asic miner to mine then I suggest you should start mining as soon as possible, it's a good coin to hold even if you don't have bitcoin and Ethereum

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February 10, 2021, 11:49:23 AM
 #12

I decided to do that since mining most of anything else is out of the question. doge seems to be the easiest to. will 1 doge ever reach 1 dollar? I remember when people were skeptical that bitcoin would ever get to ..... so many ... milestones that it went to.
Doge is not really a bad coin and in recent days it made huge bump which made good profits to the existing miners but since the price becomes already higher you also need to have better power to mine them and if your expense becomes lesser than the profits then sure you can mine or you also can hold them for future but don't forget you should be playing electricity bills from your own pockets in the holding period.

Not a bad coin since it manage to survive for many years sleeping around the corner but still got a good volume, but when Elon Musk notice it's potential he hype it up that's why we see some great changes by now. But remember it's been hype so maybe it's best not to all in at this rate and wait for the storm to calm since if the price became stable even if bitcoin dumps then we can say that doge will pump for more in future.

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dihari
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February 11, 2021, 09:12:16 AM
 #13

Doge is useful, even as a meme coin it doesn't stop this coin from getting much love in crypto community, if you have the right asic miner to mine then I suggest you should start mining as soon as possible, it's a good coin to hold even if you don't have bitcoin and Ethereum
Just curious, what makes people loves doge? I think it's all about profit. If any people start to say they loves dog because it's fun in 2021 I am sure it's bullshit. It's all about the money hype.
It is different when we go back to few years ago, people are really collecting doges in their wallet just because they want it, even they now doges is just a meme coin and have no real technologies or future development, or use case.
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February 11, 2021, 04:08:52 PM
 #14

You can't use CPU or GPU to mine Doge coin this days, back in the days it was easier to mine these coins with a single pentium 4 CPU but now things have changed alot, mining difficulty have rise too so you will need a asic miner to get some DOGE

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February 11, 2021, 11:28:42 PM
 #15

I decided to do that since mining most of anything else is out of the question. doge seems to be the easiest to. will 1 doge ever reach 1 dollar? I remember when people were skeptical that bitcoin would ever get to ..... so many ... milestones that it went to.
None knows about that dude.

IMO if it will not happen but it looks like it will be gonna reach $1. Mining doge is still profitable and the reason is doge mining will never be stopped consider it has infinite supply.
There's no team who control doge coin and this coin stand with its leg. The hardcap supply will not be determined caused by that reason.

There's no a good pos coin with low difficulty right now. Compared with BTC and I personally will try to mine doge rather than BTC. Doge is still make sense to be mined consider from its price too.


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FireBallex
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February 12, 2021, 05:06:59 AM
 #16

Doge isn't the most profitable coin to mine presently, it's just better to buy than mine, the most profitable coin is Ethereum even on asic miners, or you can buy an ETH asic miner to mine ETH and exchange to Doge if you really have some love for the coin

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shoreno
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February 12, 2021, 08:54:00 AM
 #17

Doge isn't the most profitable coin to mine presently, it's just better to buy than mine, the most profitable coin is Ethereum even on asic miners, or you can buy an ETH asic miner to mine ETH and exchange to Doge if you really have some love for the coin
thats money and time consuming if he will buy a miner to mine eth and convert eth doge but he can just buy doge directly , that way he can have that doge instantly and with lesser cost of course or he can mine a doge using the gadgets that he currently have because mining a doge is not as difficult as mining an eth because doge was less profitable but was if really less profitable? are we forgetting that elon musk loves to pump dogecoin . what if he will pump it up again some time?
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February 12, 2021, 09:28:21 AM
 #18

I decided to do that since mining most of anything else is out of the question. doge seems to be the easiest to. will 1 doge ever reach 1 dollar? I remember when people were skeptical that bitcoin would ever get to ..... so many ... milestones that it went to.
Market is Bullying why in so many currency you wanted to Mine Doge? this one has the largest coin volume  in market and unless they are going to Burn half of their supply i think it is not appropriate to have this as mining material.

Why not Look for ADA or other coins that might have go far this whole year?

and are you really capable of Mining ? i mean the electricity and other parameters of Mining are you aware?

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February 12, 2021, 11:52:13 AM
 #19

You can mine Doge is you feel like but you will be so spending some large amount of to buy the right asic miner to start mining Doge, the easiest way to avoid the high cost is using graphic cards instead, graphic cards are more affordable and also you can mine Ethereum and change the Ethereum back to her

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February 12, 2021, 12:37:15 PM
 #20

I decided to do that since mining most of anything else is out of the question. doge seems to be the easiest to. will 1 doge ever reach 1 dollar? I remember when people were skeptical that bitcoin would ever get to ..... so many ... milestones that it went to.
The question is what will happen after Doge reached 1$ ? and will you be mining many Doge before that value reached?

because I'm sure even if Doge Hit 1$ once again it wont take long to stay that level so better try to check other alt than this one, Unless you are a gambler then Mine your own gambling coin because this will save you now from the Huge Fee from ETH and BTC.


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