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Jamaican Bobsledders Ride Dogecoin Into Olympics

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Re: Jamaican Bobsledders Ride Dogecoin Into Olympics

#41

Post by [deleted] »

melarina wrote: post #36
tlrobinson wrote: post #26

Earlier quoted context omitted.

To be fair, Bitcoin experienced a hard fork last year too. That said, I agree Dogecoin's dev team talent is non-existent compared to Bitcoin's, but to some extent they can just copy everything Bitcoin/Litecoin does, for now.

I'm not sure it's a lack of talent but rather unfamiliarity with Litecoin/Dogecoin's code base. Charles Lee and Sunny King, two very talented developers, both made similar mistakes when they started their coins. In Charles Lee's case, be had to scrap his first coin (Fairbrix) and start over with Litecoin.

[deleted]

Re: Jamaican Bobsledders Ride Dogecoin Into Olympics

#42

Post by Viper007Bond »

phren0logy wrote: post #5

I started mining doge just to give it a whirl. It's good, clean fun for those of us who don't expect to get rich. In the event you decide to give it a shot, a few pointers: 1. Block rewards will be halved in 8 days, so giddy up. 2. Obviously, use a GPU-based miner if you have a decent GPU. 3. Sign up for a pool other than dogehouse, which has a highly disproportionate number of of the mining horsepower. last but not…

> 3. Sign up for a pool other than dogehouse, which has a highly disproportionate number of of the mining horsepower.

Why not Doge House? Any problems with them? Or is it specifically because you want to encourage people to spread out between pools more?

Re: Jamaican Bobsledders Ride Dogecoin Into Olympics

#43

Post by Al-Khwarizmi »

Viper007Bond wrote: post #42
phren0logy wrote: post #5

I started mining doge just to give it a whirl. It's good, clean fun for those of us who don't expect to get rich. In the event you decide to give it a shot, a few pointers: 1. Block rewards will be halved in 8 days, so giddy up. 2. Obviously, use a GPU-based miner if you have a decent GPU. 3. Sign up for a pool other than dogehouse, which has a highly disproportionate number of of the mining horsepower. last but not…

> 3. Sign up for a pool other than dogehouse, which has a highly disproportionate number of of the mining horsepower. Why not Doge House? Any problems with them? Or is it specifically because you want to encourage people to spread out between pools more?

The common knowledge (although I don't know the exact reason and technical details yet - cryptocoins are amazing, they have lots of quirks to learn) is that a pool getting more than 50% of the network hashrate at any given moment is a Very Bad Thing. If that happens they can manipulate the network somehow. I hope someone can explain it better.

At some points last week, dogehouse was bordering 50% so there were warnings in the community to switch to other pools. Not that dogehouse has any problem, it works fine.

Re: Jamaican Bobsledders Ride Dogecoin Into Olympics

#44

Post by svantana »

tlrobinson wrote: post #27
steveklabnik wrote: post #23

Earlier quoted context omitted.

> You would call that successfully? There was a problem, and now it's not a problem. Seems like a success to me. > The developers have no idea what they're doing. Luckily, that doesn't actually matter. Frankly, if they knew what they were doing, Dogecoin probably wouldn't even exist in the first place. > Doge will not be able to scale up to real economic activity unless they get a real dev team. Last I checked, DOGE…

I'm still very skeptical of Dogecoin's transaction volume. I ran some numbers last week and still haven't heard a decent explanation: https://www.quora.com/Dogecoin/Where-is-the-currently-massiv...

Do you think it could be fake - i.e. a bunch of bots trading back and forth to generate interest? If so, that's a very clever way of bootstrapping to critical-mass popularity. That reminds me of a story of a new york nightclub that pretended to be jam packed the first few nights with a bouncer outside telling everyone: "sorry, the place is full", when in fact, the place was empty. Needless to say, the first night it was actually open, hundreds were standing in line.

Re: Jamaican Bobsledders Ride Dogecoin Into Olympics

#46

Post by James_Duval »

JoshTriplett wrote: post #7
phren0logy wrote: post #5

I started mining doge just to give it a whirl. It's good, clean fun for those of us who don't expect to get rich. In the event you decide to give it a shot, a few pointers: 1. Block rewards will be halved in 8 days, so giddy up. 2. Obviously, use a GPU-based miner if you have a decent GPU. 3. Sign up for a pool other than dogehouse, which has a highly disproportionate number of of the mining horsepower. last but not…

Is CPU mining still remotely sensible to do at this point? Also, what's the recommended client for CPU mining on Linux at this point?

A CPU will be better off mining Vertcoin in the long-term, as it uses what they call Adaptive N-Factor scrypt algorithm, meaning that RAM becomes more important over time than raw processing power.

That, of course, is assuming that they have equal value, which clearly they don't.

Also, as it's still a new coin with less take-up than Doge you may be able to 'get in on the ground floor', so to speak, but it's less likely to soar in price in my opinion.

Re: Jamaican Bobsledders Ride Dogecoin Into Olympics

#47

Post by ck2 »

tlrobinson wrote: post #10
willholloway wrote: post #4

Dogecoin is monetizing user generated content, an economic revolution online. Micropayments for creators are becoming a reality. From the article comments: "They're also digging wells in Africa and training companion dogs. It's a real party over at /r/dogecoin. Someone gave me thirty bucks for telling a joke."

That's great, but I get the feeling Dogecoin users are even less informed about the technology than the average Bitcoin user. I wonder how many understand why Dogecoin in it's current state (like Bitcoin) can't scale to support widespread usage of micropayments? There are two problems: 1. The protocol limits the maximum block size to 1MB ( https://github.com/dogecoin/dogecoin/blob/master-1.5/src/mai... ) which puts D…

3. The blockchain is going to be mind-boggling huge in just a few years, maybe terabytes by the end of the decade.

Re: Jamaican Bobsledders Ride Dogecoin Into Olympics

#48

Post by officemonkey »

tlrobinson wrote: post #27
steveklabnik wrote: post #23

Earlier quoted context omitted.

> You would call that successfully? There was a problem, and now it's not a problem. Seems like a success to me. > The developers have no idea what they're doing. Luckily, that doesn't actually matter. Frankly, if they knew what they were doing, Dogecoin probably wouldn't even exist in the first place. > Doge will not be able to scale up to real economic activity unless they get a real dev team. Last I checked, DOGE…

I'm still very skeptical of Dogecoin's transaction volume. I ran some numbers last week and still haven't heard a decent explanation: https://www.quora.com/Dogecoin/Where-is-the-currently-massiv...

The /r/dogecoin subreddit has some _very_ active "tipbots." Many threads consist of people tipping each other back and forth. It's almost like a Potlatch. It's pretty ridiculous and fun and it's one of the reasons adoption among redditors has taken off.

Re: Jamaican Bobsledders Ride Dogecoin Into Olympics

#49

Post by steveklabnik »

officemonkey wrote: post #48
tlrobinson wrote: post #27

Earlier quoted context omitted.

I'm still very skeptical of Dogecoin's transaction volume. I ran some numbers last week and still haven't heard a decent explanation: https://www.quora.com/Dogecoin/Where-is-the-currently-massiv...

The /r/dogecoin subreddit has some _very_ active "tipbots." Many threads consist of people tipping each other back and forth. It's almost like a Potlatch. It's pretty ridiculous and fun and it's one of the reasons adoption among redditors has taken off.

Dogetipbot's creators say it's only exchanging about $1500 USD/day of DOGE, so that doesn't explain it.

Re: Jamaican Bobsledders Ride Dogecoin Into Olympics

#50

Post by steveklabnik »

Al-Khwarizmi wrote: post #43
Viper007Bond wrote: post #42

Earlier quoted context omitted.

> 3. Sign up for a pool other than dogehouse, which has a highly disproportionate number of of the mining horsepower. Why not Doge House? Any problems with them? Or is it specifically because you want to encourage people to spread out between pools more?

The common knowledge (although I don't know the exact reason and technical details yet - cryptocoins are amazing, they have lots of quirks to learn) is that a pool getting more than 50% of the network hashrate at any given moment is a Very Bad Thing. If that happens they can manipulate the network somehow. I hope someone can explain it better. At some points last week, dogehouse was bordering 50% so there were warnin…

51% would let you double spend coins.
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