Dogecoin tips itself to oblivion?

[lynn_402]

ASICS coming out are going to destroy litecoin and dogecoin IMHO.

I don't think you know what you're talking about.  ASIC coming out will cause a scrypt holocaust with possibly Litecoin as the only survivor, maybe a few PoS coins too just like how Peercoin still survives in the BTC network.  KNC, Ghash, etc, will all be building scrypt ASIC farms and the amount of hash power and size of network will start to rival that of BTC.  Once that occurs, in a rational world, the price of LTC should increase, while BTC goes down, but I think both will probably go up due to the upward pressure BTC has as first in the business.

Anybody can own scrypt asics, not just big mining farms. The new asics will still be as evenly distributed as they are now when the faster ones will be released this summer, because KNC and the others would profit more by selling their miners than by mining with them.

[HR]

ASIC coming out will cause a scrypt holocaust with possibly Litecoin as the only survivor . . .

Could you enlighten us as to just how you think Litecoin might be an exception, being a scrypt coin itself? What objective data might you see to argue that exception?

[r0ach]

Could you enlighten us as to just how you think Litecoin might be an exception, being a scrypt coin itself? What objective data might you see to argue that exception?

Because the Litecoin hash rate will dwarf that of the other coins to the point where it only takes 1% of LTC hash to move somewhere else to fork other coins that compete with it.  At this point, there will be no big money in any of these other coins due to how insecure they are.  This is already starting with Dogecoin now.  Coins like Worldcoin, Digitalcoin, Digibyte, etc will all be obliterated to a much worse extent, it's only a question of how long.

[HR]

Anybody can own scrypt asics, not just big mining farms. The new asics will still be as evenly distributed as they are now when the faster ones will be released this summer, because KNC and the others would profit more by selling their miners than by mining with them.

Spend some time doing the math. You might save a lot of time and money. The vast majority of ASIC miners will never, read my lips, NEVER make ROI.

The only people who will make money on this "scam" are the ASIC manufacturers.
. . . ahem, charging in BTC, and then (for obvious reasons since the raw materials, fixed and variable production costs, etc., etc., are paid in USD) selling that BTC for USD . . .


You're better off simply buying BTC, and forgetting about trying to mine altogether.

 . . . unless you're mining and buying one of the altcoins of the future that hold true to the crypto ethic . . .

[r0ach]

Spend some time doing the math. You might save a lot of time and money. The vast majority of ASIC miners will never, read my lips, NEVER make ROI.

This is false.  People ROI with antminers and other equipment all the time, it's mostly preorders getting burned.  Many people are even starting to ROI gridseeds that bought them early.

[Amph]

ASICS coming out are going to destroy litecoin and dogecoin IMHO.

I don't think you know what you're talking about.  ASIC coming out will cause a scrypt holocaust with possibly Litecoin as the only survivor, maybe a few PoS coins too just like how Peercoin still survives in the BTC network.  KNC, Ghash, etc, will all be building scrypt ASIC farms and the amount of hash power and size of network will start to rival that of BTC.  Once that occurs, in a rational world, the price of LTC should increase, while BTC goes down, but I think both will probably go up due to the upward pressure BTC has as first in the business.

Anybody can own scrypt asics, not just big mining farms. The new asics will still be as evenly distributed as they are now when the faster ones will be released this summer, because KNC and the others would profit more by selling their miners than by mining with them.

when the price will be too prohibitive for normal customers, only few will mine with them, like what happened with btc asic

[HR]

Spend some time doing the math. You might save a lot of time and money. The vast majority of ASIC miners will never, read my lips, NEVER make ROI.

This is false.  People ROI with antminers and other equipment all the time, it's mostly preorders getting burned.  Many people are even starting to ROI gridseeds that bought them early.

As you said, those "that bought early" have a decent chance - 6 to 10 months average - and with that select group, my statement COULD turn out to be false.

However, I'm referring to "the vast majority", and that obviously includes all those buying now and in the future. ASIC may be "profitable" today on a current data, simpleton, straight line projection analysis, but, unfortunately for those buying now and in the future, the difficulty to mine will increase exponentially in line with the introduction of mass use of ASIC. Forget it. It'll be all over by September - ASIC won't even be profitable on a simple variable cost only basis by then - much less factoring in a return on your hardware investment!

[HCLivess]

back to 30 satoshi, then reverse

[lynn_402]

Spend some time doing the math. You might save a lot of time and money. The vast majority of ASIC miners will never, read my lips, NEVER make ROI.

This is false.  People ROI with antminers and other equipment all the time, it's mostly preorders getting burned.  Many people are even starting to ROI gridseeds that bought them early.

As you said, those "that bought early" have a decent chance - 6 to 10 months average - and with that select group, my statement COULD turn out to be false.

However, I'm referring to "the vast majority", and that obviously includes all those buying now and in the future. ASIC may be "profitable" today on a current data, simpleton, straight line projection analysis, but, unfortunately for those buying now and in the future, the difficulty to mine will increase exponentially in line with the introduction of mass use of ASIC. Forget it. It'll be all over by September - ASIC won't even be profitable on a simple variable cost only basis by then - much less factoring in a return on your hardware investment!

That's true only for the people that sell instantly. Mining and holding may very well be profitable in the long-term.
Of course, simply buying and holding the coin might be more profitable, but that does not give the satisfaction of protecting the network of a coin you like.

And some machines offer 1mh/s for only 140$, which is quite affortable for everyone; mining centralisation is not a threat yet imho.

[lynn_402]

Could you enlighten us as to just how you think Litecoin might be an exception, being a scrypt coin itself? What objective data might you see to argue that exception?

Because the Litecoin hash rate will dwarf that of the other coins to the point where it only takes 1% of LTC hash to move somewhere else to fork other coins that compete with it.  At this point, there will be no big money in any of these other coins due to how insecure they are.  This is already starting with Dogecoin now.  Coins like Worldcoin, Digitalcoin, Digibyte, etc will all be obliterated to a much worse extent, it's only a question of how long.

For now Litecoin wins indeed, but this may very well change, because Litecoin basically offers nothing new over BTC, and its community is not as good as that of many of its competitors.

[DieJohnny]

But how would it die?

No altcoin that's on major exchanges will EVER die, even if the devs abandon it, other people will take over and fork it.  The most obscure shitcoins from a year ago are still going strong.

Do you actually believe this? There are many coins with a passionate dev group and a longer history than Dogecoin that will never ever be anything more than bits on a hard drive, nothing more than an archive of broken dreams and lost promise.

Dogecoin can drop so low in volume and market cap that it will never draw the interest of anyone anywhere. If it does, you will not revive that dead shibe.

[lynn_402]

But how would it die?

No altcoin that's on major exchanges will EVER die, even if the devs abandon it, other people will take over and fork it.  The most obscure shitcoins from a year ago are still going strong.

Do you actually believe this? There are many coins with a passionate dev group and a longer history than Dogecoin that will never ever be anything more than bits on a hard drive, nothing more than an archive of broken dreams and lost promise.

Dogecoin can drop so low in volume and market cap that it will never draw the interest of anyone anywhere. If it does, you will not revive that dead shibe.

You can't kill the passion and energy of tens of thousands of shibes; Dogecoin will not die.

[T-800]

dogecoin is dying , just look at the hashrate


http://imgur.com/nmGT3lu

The hashrate is down because the block reward halved.

[lynn_402]

dogecoin is dying , just look at the hashrate


http://imgur.com/nmGT3lu

The hashrate is down because the block reward halved.

And it's been quite stable, considering the recent drop in value; that's encouraging.

[defaced]

I've got a simpler answer the few that were trading Doge back and forth with each other took that capital some where else, because when high powered retail ASICs arrive that is the equivalent of then giving money away.


I think they moved it to Dark, which tells me few have X11 ASICs we will know by looking at the hash rates.

This is not the end of the world  or alts.

Doge was started as a joke and will end like one.

I agree with the bolded part above.

[flound1129]

But how would it die?

No altcoin that's on major exchanges will EVER die, even if the devs abandon it, other people will take over and fork it.  The most obscure shitcoins from a year ago are still going strong.

Do you actually believe this? There are many coins with a passionate dev group and a longer history than Dogecoin that will never ever be anything more than bits on a hard drive, nothing more than an archive of broken dreams and lost promise.

Dogecoin can drop so low in volume and market cap that it will never draw the interest of anyone anywhere. If it does, you will not revive that dead shibe.

Those coins never made it onto major exchanges.  Or maybe any exchanges.

Just being on a major exchange (i.e. Cryptsy, Bter, BTC-E, etc.) gives a coin value.

Yes, coins can be delisted but it's an extremely rare occurrence and normally they are added back once any issues are cleared up.

[kelsey]

But how would it die?

No altcoin that's on major exchanges will EVER die, even if the devs abandon it, other people will take over and fork it.  The most obscure shitcoins from a year ago are still going strong.

Do you actually believe this? There are many coins with a passionate dev group and a longer history than Dogecoin that will never ever be anything more than bits on a hard drive, nothing more than an archive of broken dreams and lost promise.

Dogecoin can drop so low in volume and market cap that it will never draw the interest of anyone anywhere. If it does, you will not revive that dead shibe.

You can't kill the passion and energy of tens of thousands of shibes; Dogecoin will not die.

Doge problem is its holders are sheep, and one rule of the market; the sheep always get slaughtered.

[lynn_402]

Doge problem is its holders are sheep, and one rule of the market; the sheep always get slaughtered.

And what in your opinion makes them sheep?
Imo, the sheeps are the one who buys a coin simply because it is the most established one (Bitcoin - I do hold a few of course but not only because it is the most mainstream), and those who buy to follow the market manipulator's pumps (Auroracoin and countless others).

[galbros]

While doge looks like a survivor, the simple fact is that Too Many Coins dooms it to a low value relative to BTC.  I don't think it is anything more complicated than that.  With the recent rise in BTC prices the fiat value of doge is not down that dramatically, though it is clearly down.

Due to its community, doge remains a good gateway coin for people new to crypto, but a pretty poor investment due to Too Many Coins.

Good Luck!

[rikkejohn]

Doge is screwed, mining is down, price dropping, gimmick is over.

I don't see why scrypt Asics will ruin litecoin, though (as mentioned above). The difficulty will just rise quckly, as it did with Bitcoin. Not so long ago people on BTC.-e were blaming Asics for the $65 bitcoin. Soonafter, it was $1300 on Gox (okay, it was a pump, and would have seen people serve time in a regulated market).

LTC is still Queen, BTC still King. There are some interesting minor coins, too. Forget DRK, it will follow Doge.

Dimecoin is the next coin to take off, It is the most undervalued coin on the market given its algo. No kidding, that's why I got involved with it. Plus, the developer is as honest as they come. A very good sign.

The Alts are entering a new paradigm, very few will survive, the new game is pump for a week, then die.

A committed developer is the only defence any altcoin has against oblivion.