Topic: Dogecoin is doomed to die a slow death (Read 5826 times)

I fully support and applaud any good that has been done in the name of dogecoin. Like the fiat world, good is done on a daily basis, even though the general system is inherently corrupt.

I believe however that dogecoin was planned and released by those looking to PRESERVE fiat though a well calculated attack similar to:

The tulip initiative

1) Release cryptocoinclone based on silly meme and work to immediately discredit and mock Bitcoin concept as a whole.  Slowly ingrain in general populace concept that, like meme, cryptocoins are overall silly joke/fad that by nature must eventually fade away. TULIPS TULIPS TULIPS. Number one target of course for attack being Bitcoin.

2) Use global corporate marketing juggernaut to promote "meme"coin in every possible forum: Print, web, radio, TV, and most importantly, social media. Establish a "cool" factor for "meme"coin and watch/allow PWOM (positive word of mouth) snowball effect to take over.

3) Direct initial propaganda toward those unaware of Bitcoin or alternatives. Increasingly direct attack toward those most likely to latch on to "get rich quick" schemes. Once "real world value" (fiat) is lost in "meme"coin market, PWOM will reverse. Negative feeling will trickle from "meme"coin to all cryptocoins. Bitcoin concept will start to be looked upon by general populace with malice. Fiat, more than ever feels like safe haven to initial "meme"coin adopters.

4) Flood market with clones of clones of clones to continue the effect of #3, which has added benefit of simultaneously discouraging true innovation due to market supersaturation.

5)...

Doge is currently recovering from a large bubble that has done massive damage to the currency. At its peak, the price of doge hit a staggering $.00216 in such a short lifespan, and has since declined 88% to $0.000358USD. Although this was a case of pump and dump, the doge community has done more for crypto in recent times than even bitcoin. The power of crowd-funding and multiple incredible displays of its hive-mind at work, has propelled Doge to the forefront of cryto alongside bitcoin and litecoin. Doge's inflation rate is massive to say the least, at the end of its current cycle, 100 billion coins will have flooded into the market. In essence it is a miners currency with amazing returns, however its short halving cycle makes this profitability short lived. If the price of Doge does not rise, it will be economically unfeasible to mine outside of powerful ASIC's. Even then miners will undoubtedly turn their attention to more profitable coins outside of those who seek to protect large investments. To offset this, the doge plan has been to raise awareness of the currency, to get regular folks involved. Doge has successfully gotten a bobsled team to the Olympics and has sponsored a car in the talladega races however the price is still floundering. Despite the millions that were undoubtably made aware of Doge, the Doge user base mostly consists of people involved in crytpo currency already. One huge problem, one that is very difficult to alleviate is the lack of accessibility. It is not easy to buy doge at all, can you imagine mom or dad trying to buy a crytpo currency? There is no coinbase equivalent available and this is the Achilles heel of doge. Doge desperatly needs to build its hash rate and increase its market cap, something that seems unlikely at the moment, and is an incredibly unattractive investment. Why would the common person jump through hoops to buy Doge when they can directly buy goods in fiat? Why would an investor seek out doge when million of coins flood the market daily? In the background potential of hashrate attacks which had the community worried, the leadership of doge seems to have fractured another worrisome sign.

Yeah, it's sad to see how divided and pessimist the cryptocurrency community can be.
We should never wish for the demise of another coin, instead we should focus on our primary goal: the demise of fiat!