Topic: Dogecoin trading at > 50% discount (Read 1317 times)
what happens to all memes
at 56,234 blocks mined we are over half way to the reward halving.
Considering the huge volume of doge traded daily this could seriously effect demand soon
Considering the huge volume of doge traded daily this could seriously effect demand soon
Once block rewards are halved, I guess the price will probably almost double in quite a short time (multipools will basically stop mining DOGE, until buyers buy out enough DOGE for it to be most profitable again, which means the price will be almost 2x higher). This should happen in about 47 days - but perhaps people will speculate on the rise, buying DOGE in advance earlier, driving the price to double even before the reward halving 
.
Until then, I guess the price will be probably quite stable - the market volumes are quite large, so unless someone buys or sells really huge quantity of DOGE, the steady inflow of coin from multi-miners won't allow the price to rise or fall much (price rises -> more multipools will join. Price falls -> less multipools, less doge on the market -> price rises again somewhere close to previous levels) from the "average of best scrypt coins when converting mining output to BTC".
.Until then, I guess the price will be probably quite stable - the market volumes are quite large, so unless someone buys or sells really huge quantity of DOGE, the steady inflow of coin from multi-miners won't allow the price to rise or fall much (price rises -> more multipools will join. Price falls -> less multipools, less doge on the market -> price rises again somewhere close to previous levels) from the "average of best scrypt coins when converting mining output to BTC".
The real value of Dogecoin is around 155.2 currently in ratio compared to other scrypt alt coins. Scrypt alt coins that don't even have as much going for it.
The reason for the discounted price is very simple, it's still the most profitable coin to mine even at these prices, so dumpers from multipools are pretty much in control of the value for now.
The good news for buyers is that I believe the price will go lower before the new year and then up a bit when doge road comes online.
So when will Doge see it's true value?
Unfortunately it won't be for another few months while it's still the most profitable coin to mine, once the block reward is halved we will see a ramp up in value even if no other new services come online for
Doge.
Could Doge ever see a value of 1000?
The answer is yes, right now it's marketcap is only worth < 0.08% of bitcoins, if services and more use comes for dogecoin it could easily surpass that value , also with asic scrypt miners coming online
in around 6 months litecoins value and scrypt coin value in general should rise provided the climate for virtual currencies is still open in free world markets and not banned like in China.
The reason for the discounted price is very simple, it's still the most profitable coin to mine even at these prices, so dumpers from multipools are pretty much in control of the value for now.
The good news for buyers is that I believe the price will go lower before the new year and then up a bit when doge road comes online.
So when will Doge see it's true value?
Unfortunately it won't be for another few months while it's still the most profitable coin to mine, once the block reward is halved we will see a ramp up in value even if no other new services come online for
Doge.
Could Doge ever see a value of 1000?
The answer is yes, right now it's marketcap is only worth < 0.08% of bitcoins, if services and more use comes for dogecoin it could easily surpass that value , also with asic scrypt miners coming online
in around 6 months litecoins value and scrypt coin value in general should rise provided the climate for virtual currencies is still open in free world markets and not banned like in China.
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