Topic: Removed. - page 3. (Read 9231 times)

I've got a few questions, including an analysis of why Dogecoin could technically hit $2:

1) What was the highest price that dogecoin has ever reached?  I've looked at its charts in various places and there seems to be some mysterious spikes but it's hard to determine how high it went in December of 2013.  Also, I read an article that claimed 1 dogecoin was worth $420 or something of that nature?  Maybe someone was making up stuff to pump the price or it was an exchange glitch, because none of the charts show anything remotely close to this price at any point.  Any comments?

2) The total number of Bitcoins to ever be produced is 21 million, and the total number of Dogecoins ever is 100 billion.  Given those maximums, if you divide 100 billion by 21 million, you get 4,761.9  ... that means, when all is said and done, there will be 4,761.9 times as many Dogecoins as Bitcoins.  

Currently 1 BTC is about $800 on average.  If you divide that by 4,761.9, you get about $0.168.  Meaning, since most cryptocurrencies are tied in price to BTC, technically, Dogecoin should be valued at $0.168, right?

And given the supposed claims or speculation that Bitcoin would reach $10,000 in the next few years (which would mean it would multiply 12.5 times its current price), would that not mean that Dogecoin could potentially reach roughly $2?  (if it also multiplied by 12.5)  And if not, let's say it lagged... it could still get to about 40-50 cents.  

Any thoughts on that predictive analysis?  I don't know if Dogecoins were at a higher level than they are now, but I think that would be an important consideration (to know whether they've already had their day).

3) Lastly, from what I understand, Dogecoin is simply a clone of Litecoin with some logo/font changes.  That's not great, but then again, what other major Litecoin contender is out there?  Is it possible the use of the coin could outlive the meme buzz and gain wider acceptance?  

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Disclaimer: I don't own any Dogecoins.  I own a few Bitcoins, but I may buy Dogecoins in the near future, depending on what I discover from this thread, etc.

Thanks.

possible , seems very hot now

if you will mine it, please come this pool, no fee

http://dog.ltcoin.net

But why listen, it's easier to just keep sitting around mining and hoping that the magic altcoin fairy will just drive your chosen coin/s up to stratospheric highs and then you can all retire, right?

Looks like DOGE is rising solidly again tonight, up to $0.0015 USD - I have over $150 worth. I you were me, would you sell them (for BTC) if this new peak hits a top point vs BTC in the next hours or day(s), or keep holding for bigger and better times? I'm debating whether holding them will be better in the long run than holding BTC in the long run, as Bitcoin seems stagnant lately. I'm mining over 15k DOGE's a day, as it's usually at the top spot on coinwarz.

Again, its all about volume. Doge has it. I think a more realistic short term goal would be 1 penny per doge.

what's the problem of any other currency having a market cap bigger than bitcoin? I know that bitcoin is the main currency NOW, but we can have others becoming more popular and taking the lead and I think doge could be one candidate.

You have minor to no understanding of the crypto world. You and 99% other DOGE supporters. Technically looking there isn't a single reason to buy DOGE.
Don't get me wrong, there is a reason to just mine it.. high profit.

Using that logic, CGB should be worth over 15k $ each, don't get me started on 42 (42coin).

doge hitting $2 would imply an end market cap of $200 billion (and currently over $60 billion). I just don't see that happening any time soon.

If dogecoin even manages to hit $1, I will be very happy

2) The total number of Bitcoins to ever be produced is 21 million, and the total number of Dogecoins ever is 100 billion.  Given those maximums, if you divide 100 billion by 21 million, you get 4,761.9  ... that means, when all is said and done, there will be 4,761.9 times as many Dogecoins as Bitcoins.  

Currently 1 BTC is about $800 on average.  If you divide that by 4,761.9, you get about $0.168.  Meaning, since most cryptocurrencies are tied in price to BTC, technically, Dogecoin should be valued at $0.168, right?

How can anyone know that? Could you known in December how big will Doge become at the end of Feb?

Community of this size is a very good start for any kind of coin...

Maybe it will be dead in two weeks, maybe tomorrow, everything is possible. Just enjoy the ride, and watch it grow or die.