Dogecoin tips itself to oblivion? - page 3.

flound1129

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Quote from: roozifus on May 22, 2014, 11:19:29 PM

Quote from: DieJohnny on May 22, 2014, 10:42:28 PM

Quote from: roozifus on May 22, 2014, 08:15:40 PM

I agree that as bitcoin starts to pickup steam from the bottom of a dip people will sell alts to get in on it.

If btc has another huge rally though at some point all the new money coming in starts to trickly down to alts and they become very profitable again.

This is my experience from last time as well as my interpretation of the graphs.

As for DOGE I think it's a little overpriced, but at the same time it's built on a community that is highly emotionally invested in it and that is not a small thing.

I would actually say that DOGE would survive a 51% attack much better than LTC for example because LTC is full of investors who will throw it away if it stops performing, there's so many other options.

The DOGE community will stick with it no matter what happens, DOGE will never win, but it kind of can't lose either because it's not really competing like all the other coins.

And in some weird way that makes it strong it it's own right.

I think Doge can win if it is still relevant 1 year from now when only inflationary mining is happening. i just am not sure it will survive

But how would it die?

No altcoin that's on major exchanges will EVER die, even if the devs abandon it, other people will take over and fork it. The most obscure shitcoins from a year ago are still going strong.

roozifus

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Quote from: DieJohnny on May 22, 2014, 10:42:28 PM

Quote from: roozifus on May 22, 2014, 08:15:40 PM

I agree that as bitcoin starts to pickup steam from the bottom of a dip people will sell alts to get in on it.

If btc has another huge rally though at some point all the new money coming in starts to trickly down to alts and they become very profitable again.

This is my experience from last time as well as my interpretation of the graphs.

As for DOGE I think it's a little overpriced, but at the same time it's built on a community that is highly emotionally invested in it and that is not a small thing.

I would actually say that DOGE would survive a 51% attack much better than LTC for example because LTC is full of investors who will throw it away if it stops performing, there's so many other options.

The DOGE community will stick with it no matter what happens, DOGE will never win, but it kind of can't lose either because it's not really competing like all the other coins.

And in some weird way that makes it strong it it's own right.

I think Doge can win if it is still relevant 1 year from now when only inflationary mining is happening. i just am not sure it will survive

But how would it die?

DieJohnny

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Quote from: roozifus on May 22, 2014, 08:15:40 PM

I agree that as bitcoin starts to pickup steam from the bottom of a dip people will sell alts to get in on it.

If btc has another huge rally though at some point all the new money coming in starts to trickly down to alts and they become very profitable again.

This is my experience from last time as well as my interpretation of the graphs.

As for DOGE I think it's a little overpriced, but at the same time it's built on a community that is highly emotionally invested in it and that is not a small thing.

I would actually say that DOGE would survive a 51% attack much better than LTC for example because LTC is full of investors who will throw it away if it stops performing, there's so many other options.

The DOGE community will stick with it no matter what happens, DOGE will never win, but it kind of can't lose either because it's not really competing like all the other coins.

And in some weird way that makes it strong it it's own right.

I think Doge can win if it is still relevant 1 year from now when only inflationary mining is happening. i just am not sure it will survive

roozifus

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Activity: 249

Merit: 250

I agree that as bitcoin starts to pickup steam from the bottom of a dip people will sell alts to get in on it.

If btc has another huge rally though at some point all the new money coming in starts to trickly down to alts and they become very profitable again.

This is my experience from last time as well as my interpretation of the graphs.

As for DOGE I think it's a little overpriced, but at the same time it's built on a community that is highly emotionally invested in it and that is not a small thing.

I would actually say that DOGE would survive a 51% attack much better than LTC for example because LTC is full of investors who will throw it away if it stops performing, there's so many other options.

The DOGE community will stick with it no matter what happens, DOGE will never win, but it kind of can't lose either because it's not really competing like all the other coins.

And in some weird way that makes it strong it it's own right.

DieJohnny

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Quote from: digitalindustry on May 22, 2014, 06:44:21 PM

I've got a simpler answer the few that were trading Doge back and forth with each other took that capital some where else, because when high powered retail ASICs arrive that is the equivalent of then giving money away.

I think they moved it to Dark, which tells me few have X11 ASICs we will know by looking at the hash rates.

This is not the end of the world or alts.

Doge was started as a joke and will end like one.

I think the handful of whale's that still are holding Doge are jumping ship. The order book just got completely obliterated since my original post.

Trying to unload even 50 BTC in Doge will destroy the price, completely and totally. I know some moderately large holder is about to pull the trigger. I think it is gonna be capitulation to All time low coming shortly.

I am watching Doge/BTC on Cryptsy more than Bitcoin on bitcoinwisdom. for some reason watching destruction play out live is morbidly fascinating.

tokyoghetto

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Doge is...well....Dogeshit.

DogeBalla

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Have faith in Doge!!

digitalindustry

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‘Try to be nice’

I've got a simpler answer the few that were trading Doge back and forth with each other took that capital some where else, because when high powered retail ASICs arrive that is the equivalent of then giving money away.

I think they moved it to Dark, which tells me few have X11 ASICs we will know by looking at the hash rates.

This is not the end of the world or alts.

Doge was started as a joke and will end like one.

xux99

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The community of DogeCoin should pressure for new features, especially anonymity. Otherwise DogeCoin has no competitive advantage and will gradually decline.

flound1129

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Quote from: HR on May 22, 2014, 05:37:08 PM

Quote from: flound1129 on May 22, 2014, 04:51:08 PM

Quote from: DieJohnny on May 22, 2014, 04:37:33 PM

Buy orders on Cryptsy have been chewed up dramatically in past couple of days as Bitcoin gets a bounce.

There appears to be no resistance for Dogecoin heading downward. I can't help but feel bad for the Dogecoin holders. It doesn't seem fair that so many tippers and so much of a community cannot support the coin's market cap, however, it shows how important big time investment money actually is to a coin. A loveable community only goes so far in the world of finance and global currency. Doge is in peril.

ASICS coming out are going to destroy litecoin and dogecoin IMHO. For miners, these coins are only alternatives to getting more bitcoin and everyone is starting to realize that.

No destruction, not due to asics.

What we're seeing is the last of the sell pressure on Bitcoin evaporating, with people liquidating their alts to sell at these levels.

I'm not sure I understand your logic there. Liquidating = selling. Liquidating to sell? I've never seen or heard anyone say that before. Could you be suggesting the liquidation of alts to sell BTC? That just doesn't make sense either. One is not in any way related to the other.

On the other hand, liquidating alts to *buy* BTC is another matter altogether.

I agree with the original post. ASICs will only accentuate that trend as it is the most cost effective way of entering into or further building a BTC position. The ASICs will destroy any ASIC compatible altcoin as they mine those coins into oblivion by immediately "liquidating" their altcoin mining proceeds in order to buy BTC.

It's as simple as supply and demand. https://bitcointalksearch.org/topic/its-as-simple-as-supply-and-demand-557086

Liquidating alts into BTC to sell for fiat. Seen this happen many times when BTC rises.

Quote

mine those coins into oblivion by immediately

Ever heard of difficulty?

HR

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Transparency & Integrity

Quote from: flound1129 on May 22, 2014, 04:51:08 PM

Quote from: DieJohnny on May 22, 2014, 04:37:33 PM

Buy orders on Cryptsy have been chewed up dramatically in past couple of days as Bitcoin gets a bounce.

There appears to be no resistance for Dogecoin heading downward. I can't help but feel bad for the Dogecoin holders. It doesn't seem fair that so many tippers and so much of a community cannot support the coin's market cap, however, it shows how important big time investment money actually is to a coin. A loveable community only goes so far in the world of finance and global currency. Doge is in peril.

ASICS coming out are going to destroy litecoin and dogecoin IMHO. For miners, these coins are only alternatives to getting more bitcoin and everyone is starting to realize that.

No destruction, not due to asics.

What we're seeing is the last of the sell pressure on Bitcoin evaporating, with people liquidating their alts to sell at these levels.

I'm not sure I understand your logic there. Liquidating = selling. Liquidating to sell? I've never seen or heard anyone say that before. Could you be suggesting the liquidation of alts to sell BTC? That just doesn't make sense either. One is not in any way related to the other.

On the other hand, liquidating alts to *buy* BTC is another matter altogether.

I agree with the original post. ASICs will only accentuate that trend as it is the most cost effective way of entering into or further building a BTC position. The ASICs will destroy any ASIC compatible altcoin as they mine those coins into oblivion by immediately "liquidating" their altcoin mining proceeds in order to buy BTC.

It's as simple as supply and demand. https://bitcointalksearch.org/topic/its-as-simple-as-supply-and-demand-557086

DieJohnny

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Quote from: flound1129 on May 22, 2014, 04:51:08 PM

No destruction, not due to asics.

What we're seeing is the last of the sell pressure on Bitcoin evaporating, with people liquidating their alts to sell at these levels.

Why would this be the last of the sell pressure on bitcoin evaporating???

You are suggesting that everyone left after this downturn is in Doge for the long haul??

Please elaborate

flound1129

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Quote from: DieJohnny on May 22, 2014, 04:37:33 PM

Buy orders on Cryptsy have been chewed up dramatically in past couple of days as Bitcoin gets a bounce.

There appears to be no resistance for Dogecoin heading downward. I can't help but feel bad for the Dogecoin holders. It doesn't seem fair that so many tippers and so much of a community cannot support the coin's market cap, however, it shows how important big time investment money actually is to a coin. A loveable community only goes so far in the world of finance and global currency. Doge is in peril.

ASICS coming out are going to destroy litecoin and dogecoin IMHO. For miners, these coins are only alternatives to getting more bitcoin and everyone is starting to realize that.

No destruction, not due to asics.

What we're seeing is the last of the sell pressure on Bitcoin evaporating, with people liquidating their alts to sell at these levels.

DieJohnny

legendary

Activity: 1639

Merit: 1006

Buy orders on Cryptsy have been chewed up dramatically in past couple of days as Bitcoin gets a bounce.

There appears to be no resistance for Dogecoin heading downward. I can't help but feel bad for the Dogecoin holders. It doesn't seem fair that so many tippers and so much of a community cannot support the coin's market cap, however, it shows how important big time investment money actually is to a coin. A loveable community only goes so far in the world of finance and global currency. Doge is in peril.

ASICS coming out are going to destroy litecoin and dogecoin IMHO. For miners, these coins are only alternatives to getting more bitcoin and everyone is starting to realize that.

Topic: Dogecoin tips itself to oblivion? - page 3. (Read 2894 times)