Dogecoin is no longer just a memecoin

Adbitco

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Quote from: pooya87 on October 15, 2024, 12:44:39 AM

Quote from: dogemoon on October 11, 2024, 06:48:03 PM

Why is it called a token? It is a cryptocurrency like bitcoin. In fact, since Bitcoin is set to become a reserve held by the powers, Dogecoin's features of low fees, inflation, and similarity of value of each unit with most fiat currencies position it to be the cryptocurrency of the people on the internet. There aren't many rivals.

If inflation (having unlimited supply) were a good thing, fiat wouldn't have been considered a shitcoin.

As for the fees, coins like Doge don't exactly have low fees. They are just cheap compared to bitcoin ($0.11 versus $60000) which is why when you convert the fee to dollar terms they appear cheap. Otherwise because Doge is also a copy of bitcoin, it means Doge has the same fee market as bitcoin and because of its other issues if it were to reach $60000 in a hypothetical scenario, its fee would be A LOT higher than bitcoin's.

What about those who convert their bitcoin to dogecoin to move it to other exchange and after it gets to the exchange they immediate trade to bitcoin back again. Let say Dr. A wanna send 2 BTC to Mr.B were the total cost of it would be around $10+ and they decided to convert to Dogecoin worth 2 BTC and move to other exchange, don't you think the wouldn't be that applicable?

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Quote from: Adbitco on October 03, 2024, 05:51:23 PM

DOGE was conceived as a meme currency, but after 11 years of existence, the token is often used to pay for purchases. This is the conclusion reached by experts from Bloomberg.

I love the feat Dogecoin has attained so far and I believe the creator wouldn't have thought this, but it is the reality today. And yes, no one can underestimate Dogecoin in the world of crypto payments, it can do what any cryptocurrency can do in terms of payments, so what can't it do that will make it be seen as a lesser coin? It has indeed transitioned from the mere view of meme coins and is one of the top 5 cryptocurrencies allowed as a payment option by any establishment I know. Some cryptos could be linked to some physical and important projects (Defi, Game, AI etc), but they still serve the same purpose if people value them. This is evident in the fact that people value Dogecoin with almost $17B market capitalization and 6th rank if stablecoins are excluded.

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Quote from: pooya87 on October 15, 2024, 12:44:39 AM

Quote from: dogemoon on October 11, 2024, 06:48:03 PM

Why is it called a token? It is a cryptocurrency like bitcoin. In fact, since Bitcoin is set to become a reserve held by the powers, Dogecoin's features of low fees, inflation, and similarity of value of each unit with most fiat currencies position it to be the cryptocurrency of the people on the internet. There aren't many rivals.

If inflation (having unlimited supply) were a good thing, fiat wouldn't have been considered a shitcoin.

As for the fees, coins like Doge don't exactly have low fees. They are just cheap compared to bitcoin ($0.11 versus $60000) which is why when you convert the fee to dollar terms they appear cheap. Otherwise because Doge is also a copy of bitcoin, it means Doge has the same fee market as bitcoin and because of its other issues if it were to reach $60000 in a hypothetical scenario, its fee would be A LOT higher than bitcoin's.

Yeah, and DOGE with such a supply wouldn't be able to get that high, thus, its fees would probably remain plus-minus the same, not like on BTC.
I don't see DOGE becoming something more than one of the biggest memes, because that's an accomplishment in and of itself, however, only time will tell.

pooya87

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Quote from: dogemoon on October 11, 2024, 06:48:03 PM

Why is it called a token? It is a cryptocurrency like bitcoin. In fact, since Bitcoin is set to become a reserve held by the powers, Dogecoin's features of low fees, inflation, and similarity of value of each unit with most fiat currencies position it to be the cryptocurrency of the people on the internet. There aren't many rivals.

If inflation (having unlimited supply) were a good thing, fiat wouldn't have been considered a shitcoin.

As for the fees, coins like Doge don't exactly have low fees. They are just cheap compared to bitcoin ($0.11 versus $60000) which is why when you convert the fee to dollar terms they appear cheap. Otherwise because Doge is also a copy of bitcoin, it means Doge has the same fee market as bitcoin and because of its other issues if it were to reach $60000 in a hypothetical scenario, its fee would be A LOT higher than bitcoin's.

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Quote from: mich on October 12, 2024, 04:03:37 AM

Well I do know why you will say this thing. But Doge is forever going to be the most biggest memecoin in all the crypto currency.
But there is American billionaires now want to put it in the government. I think they just trying to make more gains for this meme coin.
https://www.forbes.com/sites/digital-assets/2024/10/05/doge-in-the-treasury-mark-cuban-teases-wild-donald-trump-and-elon-musk-plan-to-pay-off-35-trillion-of-us-debt-with-bitcoin-and-crypto-amid-price-boom/

I also think that Dogecoin remains the biggest meme or shit coin at the moment and will not change its status among altcoins. There are developers who want to make this meme coin stronger in various aspects. Why is that? There are many plans that they are carrying out to gain greater profits. According to many related parties, Doge remains the most popular meme coin that has appeared in the increasingly advanced digital era. While I think doge will turn into an altcoin or token in the future, I don't think that will happen to any shitcoin including dogecoin.

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Well I do know why you will say this thing. But Doge is forever going to be the most biggest memecoin in all the crypto currency.
But there is American billionaires now want to put it in the government. I think they just trying to make more gains for this meme coin.
https://www.forbes.com/sites/digital-assets/2024/10/05/doge-in-the-treasury-mark-cuban-teases-wild-donald-trump-and-elon-musk-plan-to-pay-off-35-trillion-of-us-debt-with-bitcoin-and-crypto-amid-price-boom/

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Quote from: Rustam Meraj on October 05, 2024, 06:27:36 AM

Quote from: Text on October 05, 2024, 06:09:29 AM

I agree that Dogecoin's association with Elon Musk has been a significant factor in its continued popularity. However, I believe that its recent price decline and the lack of substantial development within the project suggest that it may be struggling to maintain its relevance.

While its low transaction fees and ease of use are certainly attractive, it's important to consider the long-term potential of a coin. If Dogecoin fails to evolve and offer unique value propositions, it may face challenges in future bull runs.

Yes Dogecoin popularity grew due to Elon Musk but its falling price and lack of new ideas raise concerns. Its low fees and ease of use are good but this is not enough. Dogecoin needs to improve and offer unique benefits to stay relevant. If not it will fall behind other cryptocurrencies. And it should reduce their supply because they have huge supply they must make a burning plan. Elon Musk support can only help so much. Dogecoin must focus on innovation and growth to succeed.

Although Dogecoin has come a long way for Elon Musk, because if he didn't own the platform it would have remained in the past. So the whole of the project he improved the future and gave the maximum benefit to the past holders, but this project is currently the most downward trending. Because the highest price of the past can never be touched.

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Quote from: el kaka22 on October 11, 2024, 01:00:43 PM

Memecoin stigma will stick with it, but the sad part of the current situation would be memecoin becoming something bad because of others and not because of doge itself. The other shitcoins in the memecoin world caused memes to have this stigma and right now everyone considers memecoins equals to shitcoins, all of those fake stuff just to get some money from investors and make the devs rich caused this part of crypto world be considered terrible and they weren't wrong neither.

Dogecoin was nice, even before Elon Musk we could say doge was a nice coin and had some fun wit hit, I still remember all the sponsorships and such they did, even helped with many natural disasters, so we can say Doge wasn't the issue but became part of a bad group.

people speculate everywhere and that's normal, doge just happen to be a tool that can allow for speculation because of its volatility. I think people will understand the notion instantly.
the fact that doge being utilized heavily for payments, means people look at doge more than just meme coin, though the stigma sticks as you said. but it's good that a meme coin actually has a use case, unlike other that's just a playground for whales to manipulate, doge happen to be released before meme coin craze and the decentralization of supply reflected by the holder amount is more fair than ever. which is great.
if anything, i'd want doge to be the biggest meme coin and will hold this position for another decade, the other memes just not worth it.

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Why is it called a token? It is a cryptocurrency like bitcoin. In fact, since Bitcoin is set to become a reserve held by the powers, Dogecoin's features of low fees, inflation, and similarity of value of each unit with most fiat currencies position it to be the cryptocurrency of the people on the internet. There aren't many rivals.

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Quote from: el kaka22 on October 11, 2024, 01:00:43 PM

Memecoin stigma will stick with it, but the sad part of the current situation would be memecoin becoming something bad because of others and not because of doge itself. The other shitcoins in the memecoin world caused memes to have this stigma and right now everyone considers memecoins equals to shitcoins, all of those fake stuff just to get some money from investors and make the devs rich caused this part of crypto world be considered terrible and they weren't wrong neither.

Dogecoin was nice, even before Elon Musk we could say doge was a nice coin and had some fun wit hit, I still remember all the sponsorships and such they did, even helped with many natural disasters, so we can say Doge wasn't the issue but became part of a bad group.

Bingo that's exactly it. While the Genesis of its creation was based on a meme, it wasn't like all these other ones that are just getting made to rip people off and use their greed against them. The meme fad will eventually die out like any other niche crypto thing, but doge will survive. Having first mover advantage and some big whales who hold and back doge will be enough for them to weather that storm when it does come.

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Memecoin stigma will stick with it, but the sad part of the current situation would be memecoin becoming something bad because of others and not because of doge itself. The other shitcoins in the memecoin world caused memes to have this stigma and right now everyone considers memecoins equals to shitcoins, all of those fake stuff just to get some money from investors and make the devs rich caused this part of crypto world be considered terrible and they weren't wrong neither.

Dogecoin was nice, even before Elon Musk we could say doge was a nice coin and had some fun wit hit, I still remember all the sponsorships and such they did, even helped with many natural disasters, so we can say Doge wasn't the issue but became part of a bad group.

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Quote from: fullhdpixel on October 10, 2024, 02:10:49 PM

Quote from: Text on October 05, 2024, 06:09:29 AM

I agree that Dogecoin's association with Elon Musk has been a significant factor in its continued popularity. However, I believe that its recent price decline and the lack of substantial development within the project suggest that it may be struggling to maintain its relevance.

While its low transaction fees and ease of use are certainly attractive, it's important to consider the long-term potential of a coin. If Dogecoin fails to evolve and offer unique value propositions, it may face challenges in future bull runs.

Future bull runs? It has been struggling for a long time already. Its all-time high was long ago and since then, we haven't seen much from it. People might think or say that it is great because it requires less money for fees when you are making transactions with it but they forget that a coin can't keep getting popular and used very often only because it has low fees but it will need to offer more than that. Bitcoin is widely used because of its price and long-term growth abilities among other properties.

If a currency keeps losing value over time without any hope of recovering, I bet people will abandon it for another one sooner or later because some many blockchains and coins charge less fees and the transactions get confirmed quickly as well. It's about how good it has been doing and how good it is doing at the moment.

Doge was a decent alternative of altcoin for different side purposes, like micro tasks payments, gambling and to transact money when BTC fees were too expensive. But that was before the speculator Elon Musk took control of Doge. Since then, it has become a risky asset to be held, especially after he boosted its price artificially and many investors lost money after the dump which came in sequence. I mean, Doge was a friendly a nice crypto before this memecoin bullshit started.

Now I think it's an illusion to give so much importance to Doge. If even Bitcoin has a hard time being adopted as currency by businesses around the world, you can be assured it's going to be much harder for Doge to achieve the same yet.

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Quote from: mdzahed134 on October 10, 2024, 02:30:29 PM

Quote from: Akbarkoe on October 06, 2024, 06:31:42 PM

yes sometimes I also use this Dogecoin on several gambling platforms that already support this memecoin, and it can be said that Doge has a utility and who doesn't know about Doge coin in this world, or crypto fans, they will immediately know what doge coin is, because at the beginning of its rise it made a lot of new rich people, lol

Yeah, i am also used DOGE coin in a few gambling platform, not only gambling platform, even still i am using it in the other platform as like to purchase online SMM services. Although it’s a MEME coin but it’s have a lot of real use cases in the market. That's true so many investors riches when it’s price was go rocket high around 1 dollar. It’s a first MEME coin which is long running project.

The long term or not depends on how Elon will take a stand on the Doge Coin, if he throws away and no longer cares that I think DOGE COIN will lose his enthusiasts in the market, the Doge Coin community will switch to other coins that are more likely to be profitable for them even though it is basically This doge coin has been received in many casinos and several markets but talking investors they will look for coins that can double their money, so they have to be careful if you want to invest in doge coins too.

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Quote from: Akbarkoe on October 06, 2024, 06:31:42 PM

Quote from: BlackHatCoiner on October 06, 2024, 12:25:24 PM

Perhaps the number #1 memecoin, but still a memecoin. I do agree, however, that a fraction of the noisy crowd uses it for actual transactions, when Bitcoin is high, or when they want to tip somebody.

It's a free market. All coins are welcomed to join and compete. It's just sad how, beyond Bitcoin, there's the sign that creating more currencies is clearly for speculation purposes only.

yes sometimes I also use this Dogecoin on several gambling platforms that already support this memecoin, and it can be said that Doge has a utility and who doesn't know about Doge coin in this world, or crypto fans, they will immediately know what doge coin is, because at the beginning of its rise it made a lot of new rich people, lol

Yeah, i am also used DOGE coin in a few gambling platform, not only gambling platform, even still i am using it in the other platform as like to purchase online SMM services. Although it’s a MEME coin but it’s have a lot of real use cases in the market. That's true so many investors riches when it’s price was go rocket high around 1 dollar. It’s a first MEME coin which is long running project.

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Quote from: Text on October 05, 2024, 06:09:29 AM

I agree that Dogecoin's association with Elon Musk has been a significant factor in its continued popularity. However, I believe that its recent price decline and the lack of substantial development within the project suggest that it may be struggling to maintain its relevance.

While its low transaction fees and ease of use are certainly attractive, it's important to consider the long-term potential of a coin. If Dogecoin fails to evolve and offer unique value propositions, it may face challenges in future bull runs.

Future bull runs? It has been struggling for a long time already. Its all-time high was long ago and since then, we haven't seen much from it. People might think or say that it is great because it requires less money for fees when you are making transactions with it but they forget that a coin can't keep getting popular and used very often only because it has low fees but it will need to offer more than that. Bitcoin is widely used because of its price and long-term growth abilities among other properties.

If a currency keeps losing value over time without any hope of recovering, I bet people will abandon it for another one sooner or later because some many blockchains and coins charge less fees and the transactions get confirmed quickly as well. It's about how good it has been doing and how good it is doing at the moment.

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Quote from: Dave1 on October 10, 2024, 08:04:11 AM

Quote from: Mr. Magkaisa on October 10, 2024, 07:05:51 AM

- Dogecoin will always be a MEMECOIN. It is the king of all memecoin.
The price might really high now but it is not the definition of it. it starts as a meme and it will remain as a meme.
For now, what will be the use of this coin? what are their future plan on this and the main prupose of the coin?
What are the plans of the team in the near future?

Yeah, I do agree, as much as the people behind this coin or whoever wanted it to be separated and treat it just like a regular coin, it will not get away from the stigma of it being a meme coin. Regardless of who influence it, like Elon Musk before.

We have seen a lot of coins really transform, however, if you are a prime mover, like doge in terms of being a meme coin, it's very hard to simply evolved. And as we can see, there are a lot of coins who also wanted to challenge doge, but they were not successful because it was the first meme coin and will remain like that.

Yeah, there should be a precedent of sorts, which I don't really remember or know, of a meme becoming a full-fledged use-case coin.
If anyone, the DOGE should become one Grin

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Quote from: Mr. Magkaisa on October 10, 2024, 07:05:51 AM

- Dogecoin will always be a MEMECOIN. It is the king of all memecoin.
The price might really high now but it is not the definition of it. it starts as a meme and it will remain as a meme.
For now, what will be the use of this coin? what are their future plan on this and the main prupose of the coin?
What are the plans of the team in the near future?

Yeah, I do agree, as much as the people behind this coin or whoever wanted it to be separated and treat it just like a regular coin, it will not get away from the stigma of it being a meme coin. Regardless of who influence it, like Elon Musk before.

We have seen a lot of coins really transform, however, if you are a prime mover, like doge in terms of being a meme coin, it's very hard to simply evolved. And as we can see, there are a lot of coins who also wanted to challenge doge, but they were not successful because it was the first meme coin and will remain like that.

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- Dogecoin will always be a MEMECOIN. It is the king of all memecoin.
The price might really high now but it is not the definition of it. it starts as a meme and it will remain as a meme.
For now, what will be the use of this coin? what are their future plan on this and the main prupose of the coin?
What are the plans of the team in the near future?

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Quote from: Adbitco on October 03, 2024, 05:51:23 PM

https://talkimg.com/images/2024/10/03/i3Qzm.jpeg
"It’s is no joke": Dogecoin is no longer just a memecoin

DOGE was conceived as a meme currency, but after 11 years of existence, the token is often used to pay for purchases. This is the conclusion reached by experts from Bloomberg.

According to the publication, the average commission on the network is <$0.01, which is almost 80 times cheaper than in the BTC blockchain, and a Dogecoin transaction requires less than a minute. Usually, such cross-border money transfers by classical methods have a commission of about 7%.

DOGE also has a rather large fan club of celebrities, which includes Elon Musk, Mark Cuban and Snoop Dogg. The fact that the token is not just a joke asset is evidenced, for example, by the initiative of the Dallas Mavericks team to introduce payment for tickets and goods in Dogecoin.

The cryptocurrency is also accepted in Williamsburg Pizza, whose co-owner pointed out the "virality" of the token. In the BitPay app, Dogecoin managed to overtake XRP and USDC, taking 5th place, experts noted.

“As time goes on, Dogecoin has become less of a memecoin and more of just a blank slate – one without much technological or idiosyncratic risk. Relative to the rest of the crypto market, it offers a pretty solid mix of familiarity, simplicity, and low cost,” —commented the founder of the Velo Data platform, Frederick Collins.

For more details read here.

Thanks for sharing! It's fascinating to see DOGE shift from meme to mainstream with its low fees and growing real-world use. Given its simplicity and increasing adoption, could we be seeing the start of Dogecoin becoming a serious player in the payments space?

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Quote from: Catenaccio on October 07, 2024, 01:16:21 AM

Quote from: pooya87 on October 06, 2024, 12:08:05 PM

I completely agree. As far as memcoins go, Dogecoin is always on top without a doubt. The fact that it has been able to survive this long and not die (still has trading volume, blocks being mined, people send transactions, has a community, etc.) is an indication of that. But it is still a memcoin unlike what was claimed in OP.

One of Dogecoin strength is its network hashrate and blockchain security. 6 confirmations of Bitcoin blockchain equal to 1,243 confirmations of Dogecoin blockchain and it is 25x slower if you use Dogecoin blockchain for transactions.

The Howmanyconfs.com site shows Dogecoin is a third best Proof of Work cryptocurrency, only after Bitcoin and Litecoin. Litecoin with 395 confirmations and 18x slower is the second best PoW cryptocurrency.

One more interesting thing of Dogecoin, can be found in The two types of Altcoins, an investor's view article.

Dogecoin is an Oscillator altcoin, and the following chart shows this.

Never thought about something like that regarding DOGE and Litecoin as well, I will definitely give this article a read in the near future, thank you very much for sharing it!

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