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Dogecoin Tutorial

howtodogecoin.com

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Re: Dogecoin Tutorial

#71

Post by herokusaki »

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…

>Do you want to feel stressed and perhaps evil for a tiny chance of money or do you rather have a constant flow of secure meatspace money by working?

Ignoring the "evil" bit, this sounds like a false dilemma. Running a mining "rig" is not a full-time job; the people I've talked to who are into mining treat it as either a hobby or a passive income-type side project.

Re: Dogecoin Tutorial

#72

Post by marincounty »

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.

Re: Dogecoin Tutorial

#73

Post by barce »

davidw wrote: post #2

Does it include information on the market manipulation? https://news.ycombinator.com/item?id=7126153

This is a good thing to put in there. Crypto-currencies are prey to all the manipulations of exchanges 100 years ago. Ya, that's what happens when you create unregulated virtual gold. A trader explains it here: https://news.ycombinator.com/item?id=3787375

Re: Dogecoin Tutorial

#74

Post by bradleysmith »

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…

EDIT: Wrong sub-thread. moved above.

Re: Dogecoin Tutorial

#75

Post by lvs »

davidw wrote: post #2

Does it include information on the market manipulation? https://news.ycombinator.com/item?id=7126153

These things aren't really working out terribly well for the manipulators. There's not as much panic selling as their sub-market dump needs in order to turn a profit. (All they're really doing is relinquishing their market position.) It's pretty disorganized as well.

Re: Dogecoin Tutorial

#76

Post by bradleysmith »

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…

you could also look at a multipool, like www.megamultipool.com.

You can point your miner at their pool, and an algorithm decides which coin you mine at any given moment based on profitablity.

They have a pool for scrypt & SHA256 miners.

Re: Dogecoin Tutorial

#78

Post by nowigetit »

kbouw wrote: post #53
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 meme powers the community and drives its marketing. You'll become immune to it after a short time.

I guess I shouldn't be surprised to see HN jumping on the "repeating old memes over and over and over and over again" bandwagon. So moron, wow.

Re: Dogecoin Tutorial

#79

Post by nowigetit »

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.

Re: Dogecoin Tutorial

#80

Post by nowigetit »

mcantelon wrote: post #68
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.

"To the moon" isn't exclusive to the bitcoin community. The phrase has been used in pump and dump schemes before.
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