Topic: Future of DogeCoin - page 28. (Read 6349 times)

Dogecoin seems to be still clinging to life  
The last I heard of this coin/token was that the developers
had all but abandoned it, but I suppose all it takes is a little
surge of support by newbies thinking they can make great
amounts of wealth with it and it can rise [temporarily] from
the gutter where it currently is.

This was one of the first coins that EXODUS.IO had supported
in its wallet system but as of 2 months ago they are no longer
supporting it and has been withdrawn. that says something
about DOGE

To see so much criticism of Dogecoin by so many forum users here is a sign and a clue to what the crypto community here is really all about. I appreciate that OP has spent the time to research it. I hope you see that Dogecoin is very unique because of the giving community, generous towards all and especially charity. Look at all the other alts claiming millions and yet all their community does is talk about price, profit, and going to the moon.

I agree Dogecoin will need to look at its supply again, but do not forget its creator decided to do it like this after a lot of thinking and felt it was the right path.

dogecoin is dead, nothing to expect from this coin. along with the bitcoin up, dogecoin will die slowly

I can't even understand why Doge is still existing, there is nothing in this currency, it will disappear in times

Dogecoin is a joke.
It's not my opinion, it's a fact, this coin has been build, based on a joke, and for laughing. There is no real purpose with it, no real goal, no business.
As it is a joke, community around it enjoyed it, and the value had its up and down. Nothing more than that, there is no integration in bigger business planned with this coin, no future, so I don't recommand you to invest in it.
What I recommand is like every coin, to do your own research and don't believe what people will say on this forum, even this post.

Regards

Dogecoin is a coin used for tipping. Widely used in reddit. It doesn't get any further than that. It was a meme coin, had its peak, it's the first tipping coin infact. Don't expect it to grow huge, because it won't. All I do with dogecoin is have fun with it, because it has no real purpose after all.

Yesterday one of my friend sent me some dogecoins, so out of curiosity i started digging information about how this coin work and how it is different from others as it is my first interaction with this Crypto-asset.

I found some interesting information regarding how it's origin is based on a popular internet meme and it's community active participation in various charity works and even in helping their fellow mates who lost their dogecoins in a cyberattack through various crowdfunding efforts, which is indeed appreciable.

If we specifically talk about speed of transactions - i have to say dogecoin is indeed fast. But the thing which caught my attention is there is no limit to its suppy, which means it is present in infinite amount.

Till today more than 100 billion dogecoins are in circulation. With as of today Oct-23-2017 , 1 DOGE =   $0.00101075 .
We have been taught about price-supply-demand things in school , in simple terms a price of an asset will depend on demand in market and its suppy - if supply of an asset is more than demand price falls and if supply is less and demand in market is more then price of an asset increases. So we can relate this to the continous BTC price increase as demand for bitcoin is more and supply is limited which increases it's value.
Comming to the fact that dogecoins have no limit of supply i hardly think it can ever become an investment asset or a stable currency ever. I see some people on twitter who are investing in alt coins see it as an long investment on which i completely disagree.

If we want to see doge coin really succeed , here are my views what the developers should seriously take note of:

1. Limit its Supply:

 More than 100 billion doge coins are in circulation with market cap of approx. USD 13.5 MIL . 100 billion is a big number and it's always increasing so unless community decide to limit it , i donot think it can attain any significant value in longterm.

2. Ok if we limit it - what will we do with existing coins?:

Solution to above problem is quite simple. We just need to publish a new Crypto-token or currency which will derive it's value from previous currency in circulation. For Ex: Let the new currency be called Super Dogecoin denoted by S-DOGE. As per our convenience we can set it's base value like 1 S-DOGE could be equal to 1000 or 10K or say even 100k DOGEs . So not just it will decrease the numbers of coin but will also hold significant value. And this new currency could also be listed to the exchange if needed.
Thank you.