Scrypt-ASICs come online in February for Litecoin mining. If mining other SCRYPT-coins becomes more profitable in terms of Bitcoins than mining Litecoins for Coin-switching pools, they will point their Scrypt-ASICs at Dogecoin and other alt-coins. So these coins will constantly be shifting up and down the profitability ladder at Coinwarz, while new coins are constantly being found and immediately dumped onto the exchanges. This will hold the price of Dogecoin and many other scrypt-coins down as more coins are just dumped onto the exchanges.
I'm sure there will eventually be an equilibrium in Dogecoin's price in terms of Bitcoins as more dogecoins are introduced onto the exchanges and more bitcoins are transferred to the exchanges to buy these Dogecoins.... but I just can't see how the current Dogecoin price is even sustainable for a short period of time.
75% of the total number of 100 billion dogecoins will be dugged in the first 138 days after Dogecoin was released... that is such a massive number. And if Dogecoin's value does start to rise to levels many people in this thread hope, Coin-switching pools will immediately point their hashing power at Dogecoin and take it back down.
As I have said, I just hope that people aren't using too much of their own personal money to buy Dogecoins, as there is a large amount of risk involved with it.
I hope people aren't risking more of their savings than they can afford to lose. I hope in the long-term it works out for them and that they do not lose their money.
Dogecoin is supposed to be about fun and introducing new people to Crypto-currencies, not for making mega-moolah. I just hope people aren't going to lose their hard-earned money over something that's purpose was meant to be fun and enjoyable.
You're wrong about the fact that DOGE is less/not profitable in long run. Till february, 100 billion DOGEs would be mined out and then as you say Scrypt ASICS will come out. One of the Scrypt ASIC miner brand I saw that is active in this section, their Scrypt ASIC miner will generate 1Mh/s - 1.2Mh/s and that is not much even a R9 290 can do 0.9Mh/s
By that time difficulty will increase, increased difficulty = less coins in market, demand would get even higher as more & more people start disovering it due to press coverage (that has already started).
More demand, less coins = raise in value.
Raise in value = More investors
More investors = More business accepting DOGE
More business accepting DOGE >>> $1=1DOGE
If you aren't at least somewhat tolerant you are going to absolutely freak out.
