I once got a letter that told me to forward it to at least 10 of my friends and send $20 to someone.
Dogecoin and the Appeal of Small Numbers
51–60 of 149 posts
Re: Dogecoin and the Appeal of Small Numbers
#52Can 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…
Mining does not drive up supply. The profitability depends on the exchange rate and current difficulty.
Re: Dogecoin and the Appeal of Small Numbers
#53Earlier quoted context omitted.
If I am not mistaken, I think there was an emergency release because someone was flooding the blockchain with micro-transactions as an attack on dogecoin and they had to raise the transaction fee/minimum transfer. Either with that or around that time they also had to do a patch to raise the transaction limit. Both issues were hard to anticipate and I guess if you have to cause a fork, at least it happens while the ch…
There was nothing hard to anticipate about the dogecoin fork; literally hours after the commit making it possible was made I heard from Litecoin/Bitcoin developer Warren Togami among others that the Dogecoin devs were idiots who had just set themselves up for a fork. Similarly the micro-transactions flood was something people had predicted would happen well in advance. To outsiders this stuff may seem mysterious and…
"This field"
"Real experience"
I think you're missing the point of dogecoin. It doesn't matter. That's the point.
Re: Dogecoin and the Appeal of Small Numbers
#54You know most people don't want to believe that dogecoin is a real virtual currency. [EDIT: Apparently some people on HN have not seen 'Cool Runnings'.]
It's more that short posts that consist entirely of cultural references for the purpose of making a joke are downvoted. Generally.
That's the thing - my karma is high enough that I know what not to post. Generally speaking. Every once in a while though, I get tired of pretending that I don't also have a goofy sense of humor and stuff like this slips through. Oh well.
Re: Dogecoin and the Appeal of Small Numbers
#55I think it's ironic that 'Small Numbers' in now #2 with 23 points and 2 comments (well, 3 now). The HN penalty regex isn't fine tuned. Also, ironic, that much of reddit has a financial incentive to promote it. Can I promote real estate and bulletin board stocks if I give it a tech slant?
Sure you can.
Re: Dogecoin and the Appeal of Small Numbers
#56It's 100% attitude. Doge is fun and playful while bitcoin seems to be the domain of crazy libertarians and people who just want to be the new bank.
As a techie who's been following bitcoin and disapproves of their libertarian ideology, I like the Dogecoin attitude. It's all a joke. It's like it's not serious. It's like people know that you're not going to replace all the money.
Funny enough, that attitude may make it more successful in the long term. 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.
Re: Dogecoin and the Appeal of Small Numbers
#57Just 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).
Re: Dogecoin and the Appeal of Small Numbers
#58Can 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…
Mining does not drive up supply. The profitability depends on the exchange rate and current difficulty.
Think about it this way. I want to turn my electricity into dollars by mining crypto currencies. I mine some coins and then sell them to lock in the profit. Putting my freshly mined coins on the market increases the supply of coins available for purchase (and it should marginally drive down the price).
Re: Dogecoin and the Appeal of Small Numbers
#59Can 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…
Bitcoin is almost always the least profitable coin to mine.
Doge currently is the 2nd most profitable to mine:
Re: Dogecoin and the Appeal of Small Numbers
#60Great article, but I disagree with one point. I do believe the value of one Doge will reach one dollar. A 100 billion market cap is just ~8 times that of Bitcoins. If Doge succeeds at its goal of being the tipping currency for the internet it will reach at least one dollar. Update: To expound on my point, I think Dogecoin solves the single biggest crisis the Internet has created, and that is "How do we compensate peo…
Interesting analysis. I could see Dogecoin becoming the Whuffie of Doctorow's Down and Out in the Magic Kingdom.
The currency of karma. The tipping currency of the internet. The post-work currency?