I am the only one who reads "Doge" as its pre-meme value: the ruler of an italian city state like Venice back in the day?
Dogecoin and the Appeal of Small Numbers
71–80 of 149 posts
Re: Dogecoin and the Appeal of Small Numbers
#72I am the only one who reads "Doge" as its pre-meme value: the ruler of an italian city state like Venice back in the day?
That's how I read it before I learned of the meme. I preferred it that way.
Re: Dogecoin and the Appeal of Small Numbers
#73Can anyone comment on the profitability of mining Dogecoins vs bitcoins? It seems weird that mining one crypto currency would be more or less profitable (in dollars per watt terms) than another. Rational miners seeking to optimize profits would tend to mine the more profitable coin which would drive up the supply and drive down the price until an equilibrium is achieved. edit: While we are at it, does anyone know how…
Bitcoin is almost always the least profitable coin to mine. Doge currently is the 2nd most profitable to mine: http://www.coinwarz.com/cryptocurrency/
Thanks!
Re: Dogecoin and the Appeal of Small Numbers
#74I am the only one who reads "Doge" as its pre-meme value: the ruler of an italian city state like Venice back in the day?
No.
Re: Dogecoin and the Appeal of Small Numbers
#75I view Bitcoin as being more like "gold" and Dogecoin as more like "change in your pocket". As it is even with the recent runup in price, the value is not even 1 penny USD per Doge.
Gold is more valuable, but in terms of actually changing hands (I am not talking about trading paper gold) the daily volume is low. Meanwhile lots of people use coins every day.
Re: Dogecoin and the Appeal of Small Numbers
#76Earlier quoted context omitted.
As a techie who's been following bitcoin and disapproves of their libertarian ideology, I like the Dogecoin attitude. It's all a joke. It's like it's not serious. It's like people know that you're not going to replace all the money.
Funny enough, that attitude may make it more successful in the long term. History has shown many times that it's not always the 100% dead serious who make it, but those who are just, well...making it up as they go along.
> History has shown many times that it's not always the 100% dead serious who make it, but those who are just, well...making it up as they go along.
Examples, please.
Re: Dogecoin and the Appeal of Small Numbers
#77Great article, but I disagree with one point. I do believe the value of one Doge will reach one dollar. A 100 billion market cap is just ~8 times that of Bitcoins. If Doge succeeds at its goal of being the tipping currency for the internet it will reach at least one dollar. Update: To expound on my point, I think Dogecoin solves the single biggest crisis the Internet has created, and that is "How do we compensate peo…
Interesting analysis. I could see Dogecoin becoming the Whuffie of Doctorow's Down and Out in the Magic Kingdom. The currency of karma. The tipping currency of the internet. The post-work currency?
I like post-work currency. Automation induced under/unemployed millenials living at home posting content to Twitter/Facebook deserve to be compensated for their work. They helped create $100 billion in value for FB shareholders at IPO. I hope they will be compensated in Doge.
Re: Dogecoin and the Appeal of Small Numbers
#78Earlier quoted context omitted.
As a techie who's been following bitcoin and disapproves of their libertarian ideology, I like the Dogecoin attitude. It's all a joke. It's like it's not serious. It's like people know that you're not going to replace all the money.
Funny enough, that attitude may make it more successful in the long term. History has shown many times that it's not always the 100% dead serious who make it, but those who are just, well...making it up as they go along.
we can have serious hearing in Senate on BTC with outcome rules [almost] killing or seriously affecting it. Having a hearing and SEC/FBI enforcement on Doge? With Doge as a witness. Put you paw on the Bible and repeat after me ...
Re: Dogecoin and the Appeal of Small Numbers
#79Earlier quoted context omitted.
Weren't idiots? They accidentally hard forked their own currency without realising what they were doing by changing a transaction limit. The developers have no idea what's going on and it's readily apparent. http://4x.reddit.com/r/dogecoin/comments/1ufl1e/much_concern...
so what you're saying is dogecoin is the php of the crypto world. we all know how that turned out.
incredibly widespread...?
Re: Dogecoin and the Appeal of Small Numbers
#80Earlier quoted context omitted.
Mining does not drive up supply. The profitability depends on the exchange rate and current difficulty.
Think about it this way. I want to turn my electricity into dollars by mining crypto currencies. I mine some coins and then sell them to lock in the profit. Putting my freshly mined coins on the market increases the supply of coins available for purchase (and it should marginally drive down the price).
The increase in supply is fixed by the algorithm, so you're really just increasing the difficulty and making it less profitable to mine. If more people decide to buy at an exchange instead of mining, it would tend to increase the price.