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Dogecoin Tutorial

howtodogecoin.com

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Re: Dogecoin Tutorial

#81

Post by nowigetit »

mrkickling wrote: post #67
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!

What's "awesome" about that? That's the "opinion" people have about every coin they hold that is dropping in price, because it is in their best interest to encourage people to buy more so they don't get stuck holding the bag.

Re: Dogecoin Tutorial

#82

Post by joe_the_user »

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.

What I want are my grumpy coins

Re: Dogecoin Tutorial

#83

Post by MysticFear »

nowigetit wrote: post #79
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.

It appeals to the most common demographic on the internet (idiots). As is usually the case when morons flock to something, there's money to be made from them. I feel bad for the people who are actually putting real money in to this stupidity.

I feel more bad for the people who type 4 angry comments on hackernews about an internet currency.

Re: Dogecoin Tutorial

#84

Post by Tyr42 »

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?

How about protein folding? That actually has a way to check that it was done correctly (NP hard). Sounds really awesome.

Re: Dogecoin Tutorial

#85

Post by tlrobinson »

I'm skeptical of some of the hype around Dogecoin. The various stats sites are currently showing hundreds of millions of dollars worth of Dogecoin transactions every day (http://bitinfocharts.com/comparison/sentinusd-doge.html). These are trivial to manipulate by sending transactions to yourself.

Where are all these transactions happening? Am I just out of the loop?

Re: Dogecoin Tutorial

#86

Post by mkeung »

marincounty wrote: post #72

I just signed up ad still don't get it? I think it has something to do with communicating via email? I know one guy who spent 50 plus house setting up a "developers" site--just shut it down because of Hackers. I think I go pan for gold, but won't dredge because of fish eggs. Or, apply to McDonalds? Or, boom? No, I'll go back to my f--ng website.

what? there is no sign up. copy paste into the wrong thread?

Re: Dogecoin Tutorial

#87

Post by mkeung »

tlrobinson wrote: post #85

I'm skeptical of some of the hype around Dogecoin. The various stats sites are currently showing hundreds of millions of dollars worth of Dogecoin transactions every day ( http://bitinfocharts.com/comparison/sentinusd-doge.html ). These are trivial to manipulate by sending transactions to yourself. Where are all these transactions happening? Am I just out of the loop?

there is a big tipping culture in the community, especially on reddit. in addition to karma upvotes, people can use a tipbot to send doge to each other. the /r/dogecoin subreddit has 40k+ subscribers, with lots of tipping in each thread.

additionally, it may be that each transaction is counted multiple times. if I were to tip you, I would first send funds to the bot, who then sends funds to you.

Re: Dogecoin Tutorial

#88

Post by baddox »

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.

Dogecoin is deliberately silly. It's based on the doge meme, after all. Have you seen the Dogecoin client? It's in Comic Sans, and includes buttons with labels like "Pls Send" and "Much Receive."

Screenshot: http://i.imgur.com/DwqrqLq.png

Re: Dogecoin Tutorial

#89

Post by gus_massa »

nisa wrote: post #64
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/Prime…

An additional problem is that the rendered images will leak.

Re: Dogecoin Tutorial

#90

Post by tlrobinson »

mkeung wrote: post #87
tlrobinson wrote: post #85

I'm skeptical of some of the hype around Dogecoin. The various stats sites are currently showing hundreds of millions of dollars worth of Dogecoin transactions every day ( http://bitinfocharts.com/comparison/sentinusd-doge.html ). These are trivial to manipulate by sending transactions to yourself. Where are all these transactions happening? Am I just out of the loop?

there is a big tipping culture in the community, especially on reddit. in addition to karma upvotes, people can use a tipbot to send doge to each other. the /r/dogecoin subreddit has 40k+ subscribers, with lots of tipping in each thread. additionally, it may be that each transaction is counted multiple times. if I were to tip you, I would first send funds to the bot, who then sends funds to you.

Ok, lets be generous and assume all 45,199 /r/dogecoin subscribers tip daily, and there are 2 transactions for every tip. Each subscriber would need to tip an average of:

$427,079,860 / 2 / 45,199 = $4724.44

Not likely, IMHO, even if each tip required 10 or 100 transactions.

Most tips seem to be less than a dollar. http://www.reddit.com/user/dogetipbot

It just doesn't add up. Where else is Dogecoin being used?

EDIT: some actual numbers are available here http://www.reddit.com/r/dogecoin/comments/1wd49h/huge_udoget...

---

On January 26th:

- 7,258 inbox messages were read by dogetipbot (even more were sent and were still unread at the time -- backlog).

- 4,565 tips were given.

- 572 new users registered for their first time.

- 359 shibes withdrew some dogecoins

- 743 shibes still kept sending +info requests even though i turned them off. ;)

- 1,063,466.73376456 dogecoins were tipped.

---

1,063,466.73376456 dogecoins = $1488.85 USD (using current exchange rate of 1 doge =US$0.0014)

There you have it. ~$1500 worth of Dogecoin was tipped on the /r/dogecoin subreddit on Jan 26, while $240M worth of Dogecoin transactions took place.

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