Now that several exchanges have implemented DOGE/BTC, I've been joking that I should build a HFT bot in Rust. I probably won't, but the idea is amusing.
Which part is amusing? I already operate a HFT bot written in Go.
How Dogecoin changed my perspective on cryptocurrency
11–20 of 173 posts
Re: How Dogecoin changed my perspective on cryptocurrency
#12Totally agree, as a Bitcoin fan who also sees Dogecoin as a positive sign.
Some Bitcoin boosters believe "there can be only one" winning digital currency, and hope/predict it will be Bitcoin.
I instead expect many to be tried, most to fail, but a wide variety to survive and live in strange, ever-changing symbiosis. They're just so easy to bootstrap, now, and the possibility/exploration space is so large. Bitcoin might always hold a special position, as the first, most-capitalized, hard-money option (and as Klabnik notes, gateway)... but many of its assumptions may not fit other niches. All sorts of subcommunities, including pranksters, can assign moneyness/value to whatever they'd like easier than ever before.
I'd especially expect regional movements and cross-cutting projects to mint new tokens as a tool of common-purpose and incentive-coordination: something straddling the worlds of equity and currency.
Crazy times ahead. Dogecoin may eventually seem obvious and mundane in retrospect.
Re: How Dogecoin changed my perspective on cryptocurrency
#13Now that several exchanges have implemented DOGE/BTC, I've been joking that I should build a HFT bot in Rust. I probably won't, but the idea is amusing.
Cryptocurrency arbitrage bots are indeed a thing. They help keep exchange values aligned.
Re: How Dogecoin changed my perspective on cryptocurrency
#14Now that several exchanges have implemented DOGE/BTC, I've been joking that I should build a HFT bot in Rust. I probably won't, but the idea is amusing.
Which part is amusing? I already operate a HFT bot written in Go.
I can't really explain to you why HFT on a meme-backed currency is funny to me, I guess we just have a different sense of humor. It just seems incredibly absurd.
Re: How Dogecoin changed my perspective on cryptocurrency
#15Re: How Dogecoin changed my perspective on cryptocurrency
#16Dogecoin's value lies in its absurdity. The absurdity makes it fun, people play with things that are fun, and people playing with things makes them grow. Unfortunately, Dogecoin is quickly attracting folks treating Dogecoin as something to "pump" using traditional multi-level-marketing-type propaganda. So there's an emerging culture clash within the quickly evolving Dogecoin community.
Re: How Dogecoin changed my perspective on cryptocurrency
#17Now that several exchanges have implemented DOGE/BTC, I've been joking that I should build a HFT bot in Rust. I probably won't, but the idea is amusing.
Cryptocurrency arbitrage bots are indeed a thing. They help keep exchange values aligned.
Of course. DOGE has only been in existence for about a month, and only got on multiple exchanges within the last 48 hours.
But really, I think a serious answer is missing the entire point. Which is that doing serious things to something that's so absurd is, in and of itself, kind of absurd.
Re: How Dogecoin changed my perspective on cryptocurrency
#18Dogecoin's value lies in its absurdity. The absurdity makes it fun, people play with things that are fun, and people playing with things makes them grow. Unfortunately, Dogecoin is quickly attracting folks treating Dogecoin as something to "pump" using traditional multi-level-marketing-type propaganda. So there's an emerging culture clash within the quickly evolving Dogecoin community.
Absolutely, this is a hot topic on the subreddit right now. See threads like http://www.reddit.com/r/dogecoin/comments/1tey1w/guys_we_nee...
Re: How Dogecoin changed my perspective on cryptocurrency
#19Re: How Dogecoin changed my perspective on cryptocurrency
#20The DOGE phenomenon is pretty interesting. Aside from lightening things up a bit, it does point to the ridiculousness of fiat currencies in general. Essentially we're fighting and clawing over numbers, abstractions if you will.
At the least dogecoin brings a bit of levity to the idea of currency. Currency is simply information and in the void of a better solution, a necessary instrument.
If dogecoin is some sort of absurdist art project, it certainly seems to be working.