Elon was making a lot of shilling tweets about whether doge will be the future of currency. You can see how successful Elon has been in the development of new technology.
As a result, a large number of individuals believe what he said previously. That being said, if all of the doge pumps are due to Elon Musk's remark. This has been discussed numerous times.
Topic: Bitcoin high fee has brought dogecoin to limelight (Read 637 times)
The advantage with Dogecoin is that although the block size is similar to that of Bitcoin (1MB), on average the blocks are mined every one minute instead of 10 minutes as the case with Bitcoin. And due to low acceptability of Dogecoin, the Mempool is almost always empty (although this may change in the future). Eventually Bitcoin will lose out because the miners have refused to lower the transaction fee. But it will be too early at this point to predict whether DOGE will benefit out of it.
In the end Bitcoin will lose out? What about scaling solutions? Everything in life scales. Cars scale, bicycles scale, hardware scales, and Bitcoin will also scale, it just needs time.
Scaling solutions are underway and once they are rolled out step by step (which is not easy to do), it will take time until some of them are sufficiently understood by the uses in regards to how to use them (e.g. lightning channels). Hopefully, most of them don't even need some extra effort on behalf of the user. That would be the best case scenario.
I agree that the magic should happen in the backend or on the protocol level. If there are users that are not overly tech-savvy, it will be hard to convince them to use a complicated technology in their everyday life.
They won't do it as we all prefer easy solutions and go for compromises when it makes life a little bit easier. Although we sometimes shouldn't.
Yes there is no way around it. You can compare it to the old personal computers when you had to use Linux like programs or DOS. Who would have used that for personal purposes. The average 60 year old wouldn't have used computers today if they still were like that. It is all easy to use and intuitive, at least for the most part.
On a few occasions the machines still do whatever they want and not what we want them to do. 
I doubt anyone would be using it today, at least not as much as computers are now part of our every day life. They are literally integrated everywhere and into whatever you can think of. We are a good bit away from cryptocurrencies being so widely understood and easily usable as computers, but that will also become an integral part of our lives soon.
Getting closer from day to day! There are so many mobile applications already which people can use on a daily basis. I think the law is more of a problem, taxation and so on. You can't really use crypto without all the taxation hassle even for the smallest amounts. If that dust also settles we'll see the whole evolution enfold its potential.
The advantage with Dogecoin is that although the block size is similar to that of Bitcoin (1MB), on average the blocks are mined every one minute instead of 10 minutes as the case with Bitcoin. And due to low acceptability of Dogecoin, the Mempool is almost always empty (although this may change in the future). Eventually Bitcoin will lose out because the miners have refused to lower the transaction fee. But it will be too early at this point to predict whether DOGE will benefit out of it.
In the end Bitcoin will lose out? What about scaling solutions? Everything in life scales. Cars scale, bicycles scale, hardware scales, and Bitcoin will also scale, it just needs time.
Scaling solutions are underway and once they are rolled out step by step (which is not easy to do), it will take time until some of them are sufficiently understood by the uses in regards to how to use them (e.g. lightning channels). Hopefully, most of them don't even need some extra effort on behalf of the user. That would be the best case scenario.
I agree that the magic should happen in the backend or on the protocol level. If there are users that are not overly tech-savvy, it will be hard to convince them to use a complicated technology in their everyday life.
They won't do it as we all prefer easy solutions and go for compromises when it makes life a little bit easier. Although we sometimes shouldn't.
Yes there is no way around it. You can compare it to the old personal computers when you had to use Linux like programs or DOS. Who would have used that for personal purposes. The average 60 year old wouldn't have used computers today if they still were like that. It is all easy to use and intuitive, at least for the most part.
On a few occasions the machines still do whatever they want and not what we want them to do. I doubt anyone would be using it today, at least not as much as computers are now part of our every day life. They are literally integrated everywhere and into whatever you can think of. We are a good bit away from cryptocurrencies being so widely understood and easily usable as computers, but that will also become an integral part of our lives soon.
I think Dogecoin's high price has nothing to do with the high Bitcoin transaction fees. If you use a wallet like Blockchain.com, Bitcoin transaction fees are still normal.
I am also having similar opinion. Because, if bitcoin's high fee is the real reason for dogecoin's bull run why most other coins are not having similar bull run. Think this way, to solve the higher fees of bitcoins, people are having lots of other options to make their transactions with cheaper fees and dogecoin alone is not a coin with cheaper transaction fees.Are you sure? How it will be possible for blockchain.com to process our transactions for cheaper network fees? I am just hearing about this for the first time. Let me check on this.
The recent hype is just an unexpected element coming from a whale but it's impossible for this to heal the relationship between dogecoin and bitcoin
Yes, dogecoin's run was triggered by a known whale Elon Muck. It is as clear as anything else. But, people want to link it to bitcoin is some way but not seeming sensible in my opinion as well. Apart from Elon musk hyping dogecoin these past months that got price hanging at $0.05 now the price has gone skyrocket. The skyrocket price of doge I believe is becayof the high fees of bitcoin transaction.
Dogecoin is proving to be a more optional coin to bitcoin and that is undoubtedly pushing price high and for the first time dogecoin has made a return to faithful hodlers.
Dogecoin is proving to be a more optional coin to bitcoin and that is undoubtedly pushing price high and for the first time dogecoin has made a return to faithful hodlers.
Elon Musk's tweet about Dogecoin caused Doge's price to soar. In fact he once wrote in his Tweet, would sell around 5k BTC to buy Dogecoin. I think he has bought a large quantity. Even in a short time Doge's price reached $ 0.38.
Apart from Elon musk hyping dogecoin these past months that got price hanging at $0.05 now the price has gone skyrocket. The skyrocket price of doge I believe is becayof the high fees of bitcoin transaction.
Dogecoin is proving to be a more optional coin to bitcoin and that is undoubtedly pushing price high and for the first time dogecoin has made a return to faithful hodlers.
Dogecoin is proving to be a more optional coin to bitcoin and that is undoubtedly pushing price high and for the first time dogecoin has made a return to faithful hodlers.
I think Dogecoin's high price has nothing to do with the high Bitcoin transaction fees. If you use a wallet like Blockchain.com, Bitcoin transaction fees are still normal.
The skyrocketing price of Dogecoin was caused by Elon Musk, he was attracted to Dogecoin, and bought it in large quantities. For a billionaire, transaction fees of $ 10 to $ 50 are not their problem.
Why comparing or relating Bitcoin with DOGE? Is this because Doge is now very hype and booming because of the very influential person in the world?
I don't think that it is. Doge is up because of the pumps done by several aprties. And then it will drop again without any pump tweets again. Many people are being hyped about this coin.
And actually, I personally don't hate Doge, but only share my point of view. There are still many coins or top tokens that can do it much better
- Yes, finding a common ground to exploit a relationship between dogecoin and bitcoin right now is too naive, the two were once the center of the stage, even brothers but years have passed, bitcoin is still strong going up in solitude, dogecoin still cannot make the next move. The recent hype is just an unexpected element coming from a whale but it's impossible for this to heal the relationship between dogecoin and bitcoin, both of which belong to two different ranges, dogecoin is just a little halo while bitcoin will forever be the center of all I don't think that it is. Doge is up because of the pumps done by several aprties. And then it will drop again without any pump tweets again. Many people are being hyped about this coin.
And actually, I personally don't hate Doge, but only share my point of view. There are still many coins or top tokens that can do it much better
Apart from Elon musk hyping dogecoin these past months that got price hanging at $0.05 now the price has gone skyrocket. The skyrocket price of doge I believe is becayof the high fees of bitcoin transaction.
Dogecoin is proving to be a more optional coin to bitcoin and that is undoubtedly pushing price high and for the first time dogecoin has made a return to faithful hodlers.
I don't think dogecoin pump is connected to bitcoin high gas fees, the only coin I know about that came into existence due to bitcoin slow confirmation was Litecoin apart from it I don't know any other coin that pumped or was recognized because of any defect in bitcoin, from my research the pump in dogecoin price is highly sponsored by Elon Musk tweets and his humble followers who buy doge thinking its a financial advise, apart from that nothing else. Dogecoin is proving to be a more optional coin to bitcoin and that is undoubtedly pushing price high and for the first time dogecoin has made a return to faithful hodlers.
due to the high transaction fees of bitcoin which make a lot of altcoins in demand.
not only Dogecoin but some altcoins like TRX also adopt low transaction fees.
That is why the adoption of altcoins such as Dogecoin and TRX also continues because some traders moving money have to use altcoins that have low transaction fees.
not only Dogecoin but some altcoins like TRX also adopt low transaction fees.
That is why the adoption of altcoins such as Dogecoin and TRX also continues because some traders moving money have to use altcoins that have low transaction fees.
One reason why the altcoins went up so much is due to the high transaction fee of Bitcoin and there is no doubt regarding it. The miners have sabotaged whatever proposal that came up in the past to lower the transaction fee. Many of the miners own huge stashes of altcoins and therefore it is beneficial for them if the altcoin prices increase. But I am really concerned with centralized coins such as Dogecoin and Ripple getting the benefit. It is not a great news for the overall health of the cryptocurrency market. Along with the high transaction fee, manipulation has also played its part. But everyone tend to ignore the second factor.
due to the high transaction fees of bitcoin which make a lot of altcoins in demand.
not only Dogecoin but some altcoins like TRX also adopt low transaction fees.
That is why the adoption of altcoins such as Dogecoin and TRX also continues because some traders moving money have to use altcoins that have low transaction fees.
not only Dogecoin but some altcoins like TRX also adopt low transaction fees.
That is why the adoption of altcoins such as Dogecoin and TRX also continues because some traders moving money have to use altcoins that have low transaction fees.
If high fee was the reason, then why Dogecoin went up with respect to the other altcoins? Ideally Litecoin or Bitcoin Cash (BCH) could have gone up more, as they have a much higher adoption when compared to Dogecoin, as far as usage for making payments is concerned. Dogecoin primarily went up due to the hype created by Elon Musk's tweets and the price manipulation by a few Dogecoin whales. This movement has nothing to do with the higher transaction fee of Bitcoin.
Your statement is a fact but the OP has a point too. If Bitcoin transaction fee is cheap and fast, Investing on blockchain base altcoin is nonsense since they are existed because of Scalability issue of Bitcoin. But manipulation from Elon Musk is the one that contributes most to the price growth.
I doubt if bitcoin fees has an impact on the dogecoin pump. In fact bitcoin fees wasn't as outrageous as that of ethereum and the increase was basically because of the increase in value of Bitcoin. Dogecoin got majority of her pump from Elon musk and the bull run which affected many other coin.
Apart from Elon musk hyping dogecoin these past months that got price hanging at $0.05 now the price has gone skyrocket. The skyrocket price of doge I believe is becayof the high fees of bitcoin transaction.
Dogecoin is proving to be a more optional coin to bitcoin and that is undoubtedly pushing price high and for the first time dogecoin has made a return to faithful hodlers.
It's just part of DOGE's price increase, it's true that I often move back to DOGE to reduce transaction fees. It's a lot cheaper than bitcoin. But that's not all for DOGE's price to be what it is now.Dogecoin is proving to be a more optional coin to bitcoin and that is undoubtedly pushing price high and for the first time dogecoin has made a return to faithful hodlers.
Currently DoGe is being exaggerated and blowing prices. The person who uses it is also more
If high fee was the reason, then why Dogecoin went up with respect to the other altcoins? Ideally Litecoin or Bitcoin Cash (BCH) could have gone up more, as they have a much higher adoption when compared to Dogecoin, as far as usage for making payments is concerned. Dogecoin primarily went up due to the hype created by Elon Musk's tweets and the price manipulation by a few Dogecoin whales. This movement has nothing to do with the higher transaction fee of Bitcoin.
The advantage with Dogecoin is that although the block size is similar to that of Bitcoin (1MB), on average the blocks are mined every one minute instead of 10 minutes as the case with Bitcoin. And due to low acceptability of Dogecoin, the Mempool is almost always empty (although this may change in the future). Eventually Bitcoin will lose out because the miners have refused to lower the transaction fee. But it will be too early at this point to predict whether DOGE will benefit out of it.
In the end Bitcoin will lose out? What about scaling solutions? Everything in life scales. Cars scale, bicycles scale, hardware scales, and Bitcoin will also scale, it just needs time.
Scaling solutions are underway and once they are rolled out step by step (which is not easy to do), it will take time until some of them are sufficiently understood by the uses in regards to how to use them (e.g. lightning channels). Hopefully, most of them don't even need some extra effort on behalf of the user. That would be the best case scenario.
I agree that the magic should happen in the backend or on the protocol level. If there are users that are not overly tech-savvy, it will be hard to convince them to use a complicated technology in their everyday life.
They won't do it as we all prefer easy solutions and go for compromises when it makes life a little bit easier. Although we sometimes shouldn't.
Yes there is no way around it. You can compare it to the old personal computers when you had to use Linux like programs or DOS. Who would have used that for personal purposes. The average 60 year old wouldn't have used computers today if they still were like that. It is all easy to use and intuitive, at least for the most part.
On a few occasions the machines still do whatever they want and not what we want them to do.
It is true that currently Doge's withdrawal fees have increased. on the local exchange that I use right now the Doge coin withdrawal fee has increased. it is estimated that the USD is definitely now rising. and that certainly led me to do another option, namely tron. now the average token and coin withdrawal fee has increased due to factors in price increases and transaction costs
Why comparing or relating Bitcoin with DOGE? Is this because Doge is now very hype and booming because of the very influential person in the world?
I don't think that it is. Doge is up because of the pumps done by several aprties. And then it will drop again without any pump tweets again. Many people are being hyped about this coin.
And actually, I personally don't hate Doge, but only share my point of view. There are still many coins or top tokens that can do it much better
I don't think that it is. Doge is up because of the pumps done by several aprties. And then it will drop again without any pump tweets again. Many people are being hyped about this coin.
And actually, I personally don't hate Doge, but only share my point of view. There are still many coins or top tokens that can do it much better
The Bitcoin fees has nothing to do with the rally in Dogecoin, everything was aligning towards a big push for the coin and some of the credits goes to Elon Musk for the shilling the project so hard that the developers were forced to upgrade the project after years of not doing anything and it shows the fun side of the market as well and if the entire shit coin market rises in this bull run then why not Dogecoin which is much better than some of the coins that rallied .
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As if dogecoin is the only coin with cheap transaction fee, do you know how many coins that have cheap transaction fee like dogecoin?
Elon was creating so many shilling tweet if doge will become the future of currency. You can see that how good the track record of elon in the development of new technology. That makes so many people believing in what he was saying before. That being said if all of pumps in doge caused by elon's tweet.
This already discussed so many times. It doesn't make sense when people started to talk about the correlation with the bitcoin fees.
Maybe he was not watching elon's tweet. There are bunch of coins that have better scalability than doge.
Apart from Elon musk hyping dogecoin these past months that got price hanging at $0.05 now the price has gone skyrocket. The skyrocket price of doge I believe is becayof the high fees of bitcoin transaction.
Dogecoin is proving to be a more optional coin to bitcoin and that is undoubtedly pushing price high and for the first time dogecoin has made a return to faithful hodlers.
I don't think about optional because Dogecoin is not even close to Bitcoin no matter what Elon Musk to do. Besides, it was just the hypes that help Doge to skyrocket, but I'm not sure if it still in the skyrocket once the altseason will end. I surely see that it drops again like in the situation before the hypes. Dogecoin is proving to be a more optional coin to bitcoin and that is undoubtedly pushing price high and for the first time dogecoin has made a return to faithful hodlers.
Nothing special with Dogecoin, we don't need to fool ourselves believing that this coin will enlighten us in the future. Because it was just Elon Musk benefiting this more, not the investors, not us. And this huge fee is temporary, in fact, it is getting low already.
If Doge would surpass Bitcoin the whole world would laugh about the decentralized finance industry. There is a limit to jokes if you ask me. I wouldn't want to see Doge surpass Bitcoin, but that's an impossible scenario anyway. As you say fees are slightly dropping even though they need to more drastically.
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