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Dogecoin Tutorial

howtodogecoin.com

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Re: Dogecoin Tutorial

#61

Post by Swammy »

lowglow wrote: post #46
Swammy wrote: post #39

I'm also building a DOGE/USD (and other currencies) exchange, http://doges.org/index.php?topic=4435.0 It's tough work doing it legitimately since so far most banks have turned their nose up at my business, but I'll get there.

You might also have the fun time of actually getting arrested. http://business.time.com/2014/01/27/bitinstant-ceo-charlie-s...

Yeah lol I read that article, hence the emphasis on making my company as legal as possible. There are banks in my country that will accept it, they just need persuasion.

Re: Dogecoin Tutorial

#62

Post by akx »

azatris wrote: post #58

Perhaps it's not the right thread to ask this, but: What stops e.g. Pixar from opening up Pixarcoin where they let the community render their next movie? Am I missing something here?

I think one of the harder problems would be verifying that the render results from a distributed system are correct, and then Pixar would be a centralized entity doling out coin for correct output. Unless there's some decentralized way I'm blissfully missing.

Re: Dogecoin Tutorial

#63

Post by mrkickling »

azatris wrote: post #58

Perhaps it's not the right thread to ask this, but: What stops e.g. Pixar from opening up Pixarcoin where they let the community render their next movie? Am I missing something here?

What if people started a Pixar road, where drugs and guns would be sold for Pixar coins? Pixar would have no control over that what so ever. I don't know about the technical part however, it could probably be possible.

Re: Dogecoin Tutorial

#64

Post by nisa »

azatris wrote: post #58

Perhaps it's not the right thread to ask this, but: What stops e.g. Pixar from opening up Pixarcoin where they let the community render their next movie? Am I missing something here?

Rendering a movie is not suitable as a proof of work function. It's probably very difficult to design a mathematical framework to verify that you really rendered the movie and not just send garbage back in exchange for coins.

At the moment most Coins use either one or multiple hashing functions¹ or prime chains² as proof of work system³.

1: https://en.wikipedia.org/wiki/Hashcash

2: https://en.wikipedia.org/wiki/Primecoin#Proof-of-work_system

3: https://en.wikipedia.org/wiki/Proof-of-work_system

Re: Dogecoin Tutorial

#65

Post by mrkickling »

Swammy wrote: post #39

I'm also building a DOGE/USD (and other currencies) exchange, http://doges.org/index.php?topic=4435.0 It's tough work doing it legitimately since so far most banks have turned their nose up at my business, but I'll get there.

Would it only be possible to exchange from the US?

Re: Dogecoin Tutorial

#66

Post by Kluny »

azatris wrote: post #58

Perhaps it's not the right thread to ask this, but: What stops e.g. Pixar from opening up Pixarcoin where they let the community render their next movie? Am I missing something here?

Nothing at all. What do think you're missing?

Re: Dogecoin Tutorial

#67

Post by mrkickling »

pkfrank wrote: post #49

I'm honestly very interested by Dogecoin, the community enthusiasm and positivity seems to be it's wildcard. But I find the lexicon "so wow! to the moon!" et. al. just terribly grating. It honestly impacts my willingness to dive into the space.

The community is really awesome. For example peoples opinions on todays price drop is that it's great because more people can buy DOGE!

Re: Dogecoin Tutorial

#68

Post by mcantelon »

pkfrank wrote: post #49

I'm honestly very interested by Dogecoin, the community enthusiasm and positivity seems to be it's wildcard. But I find the lexicon "so wow! to the moon!" et. al. just terribly grating. It honestly impacts my willingness to dive into the space.

"To the moon" isn't exclusive to Dogecoin. The phrase was used in the Bitcoin community before.

Re: Dogecoin Tutorial

#69

Post by mcantelon »

hnha wrote: post #59
ambiate wrote: post #12

My advice to everyone: if an altcoin pops up, mine it for a day or two. Place the funds in a private wallet. Backup the wallet on a USB key and two hard drives. Do not access it for 2-3 years. Early on, farming a block takes no effort at all. Later on, if the altcoin succeeds, you hit a random lotto. Otherwise, you have a few encrypted wallets and probably wasted 15 minutes setting up the miner per altcoin. Be wary o…

My advice to everyone: Existing cryptocurrencies and especially all the "i made a coin too" are a shady, complicated and potentially completely useless things. Consider them all schemes to lure money into the creator's wallets. That's the whole purpose. Now make the ethical decision if you want to support that for a chance on a questionable gain in $YourLocalRealMoney through shady exchanges. And if you feel stressed…

>Consider them all schemes to lure money into the creator's wallets

Some launches, like Dogecoin's, are done ethically with no pre-mining. Look at the coin creator's launch plan and if they violate (as the recent Coinye coin did) take them to task for it (Coiye crashed and burned).

Re: Dogecoin Tutorial

#70

Post by herokusaki »

pkfrank wrote: post #49

I'm honestly very interested by Dogecoin, the community enthusiasm and positivity seems to be it's wildcard. But I find the lexicon "so wow! to the moon!" et. al. just terribly grating. It honestly impacts my willingness to dive into the space.

The grating lexicon is what kept me from getting into Dogecoin until this year even though I first ran into it no later than a few days after the initial release. As kbouw says in a sibling comment if you actively engage in the community you'll get over it pretty quickly.
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