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At the risk of sounding like a hypocrite (I own some bitcoins and have upvoted some bitcoin threads here), I am getting tired of seeing dogecoin threads. They don't seem to contain very novel or insightful information. Also, how long can the doge meme honestly keep people interested in the currency?
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I haven't run any numbers (great analysis by the way). Other sources I can think of: -conversion from other currency holdings (LTC, BTC), which some people have openly said they did -recent run up / down of the value caused a lot of people who were previously holding to buy / sell (started around the time of the big news push with the Jamaican bobsled team fundraiser, right now it is dropping) -general interest, peop…
I did some more calculations here: https://www.quora.com/Dogecoin/Where-is-the-currently-massiv... Notably, the volume across all exchanges today is 562,124,614 doge, which is about $786,974, and mining accounts for another ~$1,000,000/day (500000 * 60 * 24 * $0.0014). 2x each of those to account for transactions into/out of mining pools and exchanges, and it's still only a few million dollars (plus a lot of trading…
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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:…
I would assume much of this is done by speculators. iBit, a company that directly connects the bitcoin market with NASDAQ, enables high volumes of trade. Once you have bitcoin all other alt currencies are very easy to trade. Many speculators love the high volatility of trades as it gives them an opportunity to buy low and sell high, especially if you've got a high risk portion in your investment portfolio.
Even if they did, see my other comments about how the volume across Dogecoin exchanges is only about $1M/day.
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Multiply those 15 minutes by the number of altcoins popping up every week. Then add the time spent in looking for altcoins early on. There are several who'd like to jump on it from day 1. They make their living by selling them on ebay. Not to mention that your computer is unusable while it's mining. My point being, it's not a get rich quick scheme for everyone .
>Not to mention that your computer is unusable while it's mining. Depends on your computer. I mine 42 coin and code/watch movies and there's no noticeable performance hit other than my computer being warmer than usual.
If you must have the coins in anticipation of their rise, just buy thousands for them for a few dollars.
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>Not to mention that your computer is unusable while it's mining. Depends on your computer. I mine 42 coin and code/watch movies and there's no noticeable performance hit other than my computer being warmer than usual.
42 coins/day ? Why mine at all? You'll probably spend more on electricity. If you must have the coins in anticipation of their rise, just buy thousands for them for a few dollars.
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42 coins/day ? Why mine at all? You'll probably spend more on electricity. If you must have the coins in anticipation of their rise, just buy thousands for them for a few dollars.
No, 42 coin. http://www.42coin.org/
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…
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?
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No, 42 coin. http://www.42coin.org/
Thanks for supporting 42.. I stumbled upon this thread via Google Search. I am maco from the official 42 coin team. I want to know if anyone has questions about 42 coin so I can answer them! Yes, I hear that a lot of people do mine 42 while multi-tasking, it really depends on the graphics card you got. After all, 42 coin is still the highest valued crypto currency to date... and we increased the crypto communities av…
At the risk of sounding like a hypocrite (I own some bitcoins and have upvoted some bitcoin threads here), I am getting tired of seeing dogecoin threads. They don't seem to contain very novel or insightful information. Also, how long can the doge meme honestly keep people interested in the currency?
we just wanted to get feedback on the site, like any other show hn. wasn't trying to provide novel or insightful information, other than a guide simple enough that my parents could follow.