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Dogecoin and the Appeal of Small Numbers

diegobasch.com

91–100 of 149 posts

Re: Dogecoin and the Appeal of Small Numbers

#91
post #70
post #24

Earlier quoted context omitted.

Weren't idiots? They accidentally hard forked their own currency without realising what they were doing by changing a transaction limit. The developers have no idea what's going on and it's readily apparent. http://4x.reddit.com/r/dogecoin/comments/1ufl1e/much_concern...

so what you're saying is dogecoin is the php of the crypto world. we all know how that turned out.

Really, really popular and the basis for many sucessful applications?

Re: Dogecoin and the Appeal of Small Numbers

#92
post #61
post #24

Earlier quoted context omitted.

Weren't idiots? They accidentally hard forked their own currency without realising what they were doing by changing a transaction limit. The developers have no idea what's going on and it's readily apparent. http://4x.reddit.com/r/dogecoin/comments/1ufl1e/much_concern...

Boy, I really wouldn't want to work with you. The unfortunate situation to which you're referring was the result of trying to mitigate a microtransaction attack that was happening on the blockchain. It was a rock and a hard place situation, and because the community was still relatively small and focused, the devs tried to get everyone to upgrade simultaneously. They chose to risk a fork rather than risk effectively…

If I were to edit this post, I could remove both the first and last sentence and it would still hold its meaning.

Re: Dogecoin and the Appeal of Small Numbers

#93

Comes up in share grants as well. A 10,000 share stock award sounds a lot more impressive than a 50 share stock award, even if the former company has 10,000,000 (0.1%) shares and the latter 10,000 (0.5%).

When a stock isn't publicly traded yet thinking of grants in terms of "percentage of the company" is helpful to get around this bias.

Re: Dogecoin and the Appeal of Small Numbers

#94
post #69

Great 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…

Yes, and to be more concrete, the idea of micropayments as a way to keep the media/journalism industry alive was something that was essentially dropped in favor of pay-walls. I don't think anyone considers the latter solution to be wholeheartedly successful. If ƉOGE tipping can finally make micropayments a reality, it's going to get a lot of attention.

i don't know if it would work for large companies but I could see it working with established writers, open source contributors, or artists

Re: Dogecoin and the Appeal of Small Numbers

#95
post #53

Earlier quoted context omitted.

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.

Believe me, I know. I've written a few times now to the non-dogecoin communities that attacking dogecoin would just make it stronger; even a successful attack won't do anything because doge doesn't actually need to work to grow their community.

Re: Dogecoin and the Appeal of Small Numbers

#96
post #47

Earlier quoted context omitted.

I patched dogecoin to fix the transaction limit to prevent dust. What I am realizing is that dogecoin, by virtue of being not so serious, is gaining more developer mindshare who want to experiment and learn. That's what makes it fun, and what gives it potential.

Exactly. Bitcoin is too big to experiment on, and the arguments of the hardcore-Bitcoin folks who hate altcoins are getting more and more ridiculous.

What makes you think those arguments are coming from the good Bitcoin devs/theorists? That community - I'm a part of it - thinks altcoins are valuable testing grounds for ideas and have used Litecoin for testing out new ideas in the past.

But Litecoin has the very competent Warren Togami as lead dev right now; if dogecoin had competent devs maintaining the client they'd get some respect. But they don't.

Re: Dogecoin and the Appeal of Small Numbers

#97
post #37

Earlier 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…

Did you or warren bother to submit a bug report? You know, what would be normal behavior with any other open source project?

Re: Dogecoin and the Appeal of Small Numbers

#98
Great post. Also perfectly explains why the idea that bitcoin will rule the world is nonsense; there's infinite competition from other fad currencies.

Whatever benefit you think bitcoin has or will have - WHATEVER benefit - someone will make another currency that does it better and cooler, and then no one will have any reason to have bitcoins, and then your life savings evaporate.

Social networks, teen pop music bands, internet currencies - all follow a nice, predictable rise and fall arc. We can't exactly predict how high the rise will be, or exactly when the fall will come, but we know it's coming.

Re: Dogecoin and the Appeal of Small Numbers

#99
post #61
post #24

Earlier quoted context omitted.

Weren't idiots? They accidentally hard forked their own currency without realising what they were doing by changing a transaction limit. The developers have no idea what's going on and it's readily apparent. http://4x.reddit.com/r/dogecoin/comments/1ufl1e/much_concern...

Boy, I really wouldn't want to work with you. The unfortunate situation to which you're referring was the result of trying to mitigate a microtransaction attack that was happening on the blockchain. It was a rock and a hard place situation, and because the community was still relatively small and focused, the devs tried to get everyone to upgrade simultaneously. They chose to risk a fork rather than risk effectively…

[deleted]

Re: Dogecoin and the Appeal of Small Numbers

#100
post #87

Earlier quoted context omitted.

> 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. Examples, please.

Well...there's that one operating system out there that got pretty popular after some guy in Finland posted it online. Name escapes me at the moment, though.

Finux.
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