Here we go guys, here is the truth: Doge coin cap is beyond retarded, doge is dying and will be a distant memory in a year.
Sorry.
The fact that it survives despite its current hyperinflation of 180M daily doges, or about 80BTC at today's price, and the vast majority of them mined by multipools, shows you're wrong.
i see lynn is still refusing to accept reality....even if you take a look at the over market cap of dogecoin, it is shrinking rapidly. You don't look at how much BTC worth of Doge is being added daily, because the added doge value can't even close to make up for the lost market cap value each day. With the price falling, the market cap is shrinking beyond the reason of inflation. Your logic would have made a little bit of sense if total market cap is staying at the same level once 180M is added daily, meaning doge value would be declining at a much slower pace than currently.
Your reasoning is almost as ridiculous as when you mentioned the japanese national debt, when I shredded your last post.
The fact is, even with all the multipools mining doge, the algorithm of doge dictates that there is always the same amount of doge output per day, no matter how high the hashrate is. So the daily excess supply of doge never changes, 180M like you said. The fact doge is falling this fast is as simple as
1. too much supply, as I have always said. This is why we need doge to become PoS right now. There is already so much doge out there, why make more.
2. lack of confidence in doge (and pretty much every other altcoins, but especially scrypt coins)
And like i predicted before, i think doge probably going down to the 20-25 range in a few months, if not lower.
And stop calling me a troll just because i'm the one person on this forum who's not handicapped by lack of basic market/economics knowledge like you. And I do hope doge rebound a bit because I still have 150k doge stuck that I want to get rid of (but missed my chance to sell at 60). I'm just telling you the truth about why the market behaves the way it does. You think if everyone thinks like you about dogecoin, doge would still fall as fast as it does? You and your fantasy & optimism is in the minority. Wake up and smell the coffee.
By the way, how is your $20 worth of dogecoin coin lunch money doing since we last spoke? Only worth $13 now? It's ok, it's just an appetizer.
Doge price is more stable now as compared to a few days ago. Price actually moves up a little bit (in USD value) from the bottom. Don't forget Bitcoin price keeps rising these days
do you realize the rise in USD value is because of BTC's rise in USD value? If you going to make that argument, why not just exchange all your doge into BTC, your "rise" would be much higher in terms of USD. typical idiocy in this thread.
