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WTF is a Dogecoin?

Discussion in 'CryptoCurrency' started by tacitinc, Jan 9, 2014.

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  1. tacitinc

    tacitinc Junior Member

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    At first glance I thought this was another fly by night crypto (holla @ kanyecoins fail) but after doing a little digging there is some actual juice about these guys growing as well.
    They are in their early stages it looks like, prices are still low, but does anyone have any real info on them? Articles can be bought and paid for just like anything else, so I don't
    (at face value) always trust print/digital media these days when it comes to new companies launching hahaha

    Just curious if anyone can comment on some of the speculations going around... I have yet to invest in any crypto currency after selling my bitcoins when they were a whopping $5.58 USD each because I got scared I was just going to be left with a bunch of random bits of crypted numbers on a $500 investment, i still made a couple hundred off it, but everytime I see another bitcoin lottery success story, i tend to self harm :p

    Let me know your thoughts on the Dogecoin... thanks in advance
     
  2. scout01

    scout01 Newbie

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    It blew up pretty quickly early on thanks to the Doge meme and the Bitcoin crash in December. Redditors were tipping Doges throughout the site to random posts and many saw it as another opportunity not to be missed. Not certain about the future, but it certainly is widely appealing as a less serious/"fun" alternative to Bitcoins. Note that there's no official Doge to USD exchange so it's still dependent on LTC and BTC.
     
  3. devde

    devde Registered Member

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    a promising crypto for 2014 in my opinion is worldcoin (WDC).
    it's still cheap now, price around 0.50$ and in february an official worldcoin to USD exchange will open. Other services built around this coin will come later this year
     
  4. Patel

    Patel Senior Member

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    95% of alts are scamcoins that are bitcoin forks.

    The ones that aren't bitcoin forks that have potential: nxt, emunie, xcp(counterparty), and mastercoin (maybe) Those 4 have true innovation, not just bitcoin clones. Everything else is scamcoin pump and dump, and is going nowhere. Including dogeshitcoin and catcoin or meowcoin or whatever the hell it is. lol
     
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  5. ledlights

    ledlights Newbie

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    Bitcoin lobbyist detected.
     
  6. Ste Fishkin

    Ste Fishkin "I'm watching you.." - Apricot Jr. VIP Premium Member UnGagged Attendee

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    such doge, such wealth, such currency...

    much wow
     
  7. Patel

    Patel Senior Member

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    Last edited: Jan 9, 2014
  8. luxurybuyer

    luxurybuyer Junior Member

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    WTF is a Litecoin lol?
     
  9. Patel

    Patel Senior Member

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    Cryptocurrency will not go to shit, its definitely here to stay. but noobs who end up investing in these overnight coins will get burned. and that is 100% their fault and noone should feel bad for them for not doing market research before putting money into something called "dogecoin" or "catcoin" or "coinye west"
     
  10. 2DHades

    2DHades Power Member

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    In the beginning it was very promising, and the creators were putting a lot of effort to make it go viral.

    Well, 2 weeks later the coin lost it's value, and it's hard to tell whether or not its coming back.
     
  11. Ste Fishkin

    Ste Fishkin "I'm watching you.." - Apricot Jr. VIP Premium Member UnGagged Attendee

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    I've got 550k of doge, still not selling.

    It's worth about 20% of its peak.

    I still think it will take off. The guys in the sub reddit are building awesome tools to take it in a direction that other coins don't go.

    I believe there is a real chance it will hit $0.50 per coin.
     
  12. Patel

    Patel Senior Member

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    have fun being a bagholder
     
  13. akacash

    akacash Jr. VIP Jr. VIP

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    Man, Dogecoin is sooooo 2013, Cagecoin is where it's at baby. Long live the hippo!!! Lol, I'm just kidding btw.
     
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  14. King Midas

    King Midas Junior Member

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    Bitcoin is the Godfather of cryptocurrency, kiss the ring or perish. If you fraternize with alt coins you're going to get smoked at a red light.
     
  15. Numbuh362

    Numbuh362 Elite Member

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    feathercoin seems to be doing well too, most bitcoin clones offer faster confirm times and more security plus they use scrypt mining instead of the sha256 method.
     
  16. Patel

    Patel Senior Member

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    ftc is btc-e's coin. just look at the order book, it is highly manipulated market, not organic. I would stay away from ftc. Yeah there are some good alts, but the confirmation time argument is irrevelant. for example, 1 litecoin confirmation = 0.25 bitcoin confirmation. 4 litecoin confs = 1 bitcoin conf.

    the security behind the confirmation is the same, if not less with litecoin/alts because of the hash rate is not as large as bitcoin's. so faster confirmations is just a psychological thing.

    people get tricked into these alt coins thinking, oh since litecoin/ftc/whatevercoin has 4x more than bitcoin, it will be worth 1/4 of bitcoin. but this isn't true. when bitcoin's price goes up, most of the time altcoin/btc ratio goes down. People who invest into altcoins because they think bitcoin is too expensive, are the ones that normally lose. Unless that altcoin is about to go viral, then thats the exception because that is playing the pump and dump game.

    Everyone wants their profits in btc, not these worthless altcoins
     
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  17. tacitinc

    tacitinc Junior Member

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    So i would say right now the general consensus is Bitcoin or GTFO... 8)
     
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  18. ibmethatswhoib

    ibmethatswhoib Jr. VIP Jr. VIP Premium Member

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    Well Patel knows his shit and definitely helped me out, so I agree on the bitcoin and everything he said but about the dogecoins. But I'm putting some money into dogecoins that I can afford to lose because I think it has the potential to blow up. If you look at the reddit link, these guys are going nuts to make it blow up http://www.reddit.com/r/dogecoin/. There is a huge following. If you look at these bubble stats, it's constantly in the top 3 talked about http://www.cryptocoincharts.info/v2/markets/show/cryptsy. If you look at the volume traded it's one of the top performers http://coinmarketcap.com/ consistently. The reason it dropped so much is the amount of dogecoins available is like none other, so it dropped and dropped and now it looks like it's stabilizing. 25% of it has been mined, so once more and more is mined in a month the price should jump as long as the interest is still there. There is no letting up in the community, they're trying to get into games, they're working together to buy ads, I don't see it slowing. Only time will tell but it could blow up and if it doesn't it doesn't but it's a fun coin to get into either way, don't count it out.
     
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  19. 2DHades

    2DHades Power Member

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    I had no idea people are working so hard to make it go viral, there might be a future. If you can afford 20-30$ now is the time to get in.
     
  20. roninhack

    roninhack Newbie

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    it is a crytocoin like bitcoin,litecoin or etc.. , now 1 bitcoin around 900$.