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Dogecoin and the Appeal of Small Numbers

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Re: Dogecoin and the Appeal of Small Numbers

#121

Post by James_Duval »

steveklabnik wrote: post #45
1qaz2wsx3edc wrote: post #22

It's interesting when you look at 42/BTC/LTC/DOGE. It seems the common denominator is rarity. The less rare, the less value, the more the higher the value. Sounds similar to something. DOGE are the pennies of cryptocurrencies. Just two cents, or two DOGE? I'm not sure anymore.

People have been saying that Litecoin is the silver to Bitcoin's gold for a while. Now some are saying Dogecoin is the bronze to Litecoin's silver...

On the Dogecoin subreddit, people have been arguing that Bitcoin is gold, Litecoin silver, and Dogecoin is money.

Re: Dogecoin and the Appeal of Small Numbers

#122

Post by Kiro »

nwh wrote: post #24
ck2 wrote: post #18

It's not just the number of coins. The people who created this were not idiots, they learned by looking at previous coins. 1. more coins for larger transactions instead of fractions 2. faster block rate (one a minute) 3. faster difficulty adjustment time (4 hours vs days or weeks) 4. faster halving time (every other month or so) 5. faster time to last block (mid 2015) 6. faster confirmations The random payout on a bl…

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...

Why do you hate dogecoin? Jealousy?

Re: Dogecoin and the Appeal of Small Numbers

#123

Post by donquichotte »

aresant wrote: post #57

Just a random comment on the whole "community raised 25k" In fact one self identifying bitcoin speculator contributed $20k of that after moving some bc>doge all to drive speculative in doge through the assured free press (and wrote about his intent on reddit).

Classic pump & dump scheme, nice!

Re: Dogecoin and the Appeal of Small Numbers

#124

Post by pcrh »

finnh wrote: post #71

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?

I guess Doge as in Dogecoin was meant to be pronounced "doggie", deliberately misspelt, whereas the Venetian Doge is pronounced /ˈdoʊdʒ/ (~doj).

Re: Dogecoin and the Appeal of Small Numbers

#125

Post by boyter »

Blahah wrote: post #112
boyter wrote: post #26

Earlier quoted context omitted.

Agreed. I was mining primecoin to get bitcoin, and noticed this new thing called doge. Since I like the idea of having 10,000 of something I exchanged for it instead. You know what? I have had more fun with that then any of the bitcoin I have. I have been playing with day trading, tipping people online and buying things from people.

Any good resources for getting started with day trading?

To be honest I just winged the whole thing. Did all the trading on bter.com which I am a fan of.

I know nothing about trading at all. Well nothing beyond random reading. Hence the appeal of trying it out with inconsequential sums of money like dogecoin. After all 20000 Dodge is cheap but enough to have fun with on the exchange. I got to experience the rush of a pump with unsustainable grow followed by a crash. All the while trying to increase my holding. I also had a ball doing so. The fun value I got out of Dodge easily exceeds anything I got in the bitcoin world.

Re: Dogecoin and the Appeal of Small Numbers

#126

Post by rmc »

bitops wrote: post #87
VanillaCafe wrote: post #76

Earlier quoted context omitted.

> 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.

Well...there's that one operating system out there that got pretty popular after some guy in Finland posted it online. Name escapes me at the moment, though.

Freax wasn't it?

Re: Dogecoin and the Appeal of Small Numbers

#127

Post by rmc »

nwh wrote: post #24
ck2 wrote: post #18

It's not just the number of coins. The people who created this were not idiots, they learned by looking at previous coins. 1. more coins for larger transactions instead of fractions 2. faster block rate (one a minute) 3. faster difficulty adjustment time (4 hours vs days or weeks) 4. faster halving time (every other month or so) 5. faster time to last block (mid 2015) 6. faster confirmations The random payout on a bl…

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...

As opposed to the fork and "holy-hell-everyone-roll-back-quick-reverse-that-double-spend" that happened with Bitcoin?

Re: Dogecoin and the Appeal of Small Numbers

#128

Post by rmc »

nwh wrote: post #31
ihuman wrote: post #27

Earlier quoted context omitted.

The same thing happened to bitcoin, though. http://bitcoin.org/en/alert/2013-03-11-chain-fork

No it did not. Bitcoin has trouble because there was a parameter in Berkeley DB that nobody thought would ever be hit (the number of locks associated with a particular table). They'd tested against this and believed the value to be enough, except that in very rare cases when values outside what they thought possible caused some nodes to reject a particular block. With a portion of the network seeing the block as inva…

And yet there was a fork with a minor point upgrade. Did anyone see the fork happening?

Re: Dogecoin and the Appeal of Small Numbers

#130

Post by GrinningFool »

minimax wrote: post #48

Can 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…

I'm currently CPU-mining (and one crappy nvidia gpu),which would net a few dollars a day at current rates. If I had serious hardware, I would imagine it would be quite profitable. I'm currently just holding onto it and tipping with it occasionally, as I find the whole thing kind of entertaining.
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