This means that members of the DOGE community (or other niche-based coin communities) really have to ask themselves: are we in this because of our like for the Shiba Inu meme and our belief in currency debasement? Do we really believe that we can build a real and lasting economy around the shibe?
For those that understand the joke, Shiba Inu becomes a symbol of community. It's not just the meme, but the feeling of participating in community and sharing its values, which in the case of Doge have more to do with copious tipping and helping each other out than "debasing the currency".
I think we are saying the same thing YarkoL. This is what I meant when I said:
I think coins that don't offer any technical improvements over bitcoin, but instead strongly appeal to subsets of the community, may be unaffected by side-chains and spin-offs. Take DOGE for instance. DOGE is not technically innovative, but instead derives its market cap from its usefulness to its like-minded community.
I have a soft-spot for the DOGE community. r/dogecoin is filled with generous happy and mostly honest people that are trying to do a very good thing. I think they would bring tremendous value to bitcoin.
What is yet to be seen is how much of the DOGE community is actually committed to building a DOGE economy even if bitcoin appreciates in price at a faster rate on average. To me it just doesn't make sense and shibes will start to come to the same conclusion. Why not build a sub-community within bitcoin that has a shiba-inu element?
