Topic: The demise of DOGE and how it is affecting our income - page 3. (Read 3830 times)

Haha that's a good one mate 

The money sadly comes from those who spent $15,000 on BFL and other ASIC equipment and now making only 0.01 BTC/day but they still run it bcase it has no reasonable resale value.

If BTC owners decided not to buy alts then shitcoins would die.

If a DOGE - US$ trading exchange opens up then BTC would die.

I will be interested to see what you decide to do.  When bitcoin halved in  November 2012, a number of people mined at a loss until the price increased, but there were far fewer coins back then.  Demand for dogecoin has been nothing short of staggering for weeks, so I think we will see that reflected in the price in a few days.  Doge is still growing at about 1% a day in terms of addresses on the chain with money.  That is far higher than any other coin.  

Doge is doing way better than anybody could have ever hoped for. You were lucky to be making $23 a day, and you are still lucky to make $12. Another month and you will be down to $5, regardless of how many shitcoins are made. The money has to come from somewhere. It's not like each shitcoin is bringing in new money. A dogecoin is rare, the rest of these shitcoins are bought by the same group of speculators, and adding a hundred new coins a day isn't going to magically bring in new money.

Selling or holding is irrelevant to what I'm saying.

I'm saying I was making 0.028 BTC /day and now its 0.018 BTC/day overnight (before power). There is a sudden overnight increase in hashrate.

History like repeats .
But here we need big community to repeat that that makes it so damm hard.
You can buy people by money but taking their hearths a way harder to do.

Yes it looks like the DOGE block reward being cut in half got you.

I agree, altcoins give miners great outlets for their hashing power.  However, I doubt you'll see another Doge.

Good Luck.

You are right but when we compare inflation rate of coins then you will find out that inflation will be far away less than other big ones.
Do you believe that you will live 100+ years to see when supply of Doge and Bitcoin will be equal ?
In this article article there is very interesting sentence about supply bitcoin and Dogecoin:

"Do you want to take a guess at which year Dogecoin will catch up to Bitcoin in total monetary supply added?
The year 2174."

http://tuxedage.wordpress.com/2014/02/06/a-serious-analysis-of-dogecoin-or-why-i-am-all-in-on-dogecoin/

... so think twice what could get better value in future.

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Today after 2 month Dogecoin is popular mark - 0 premine all had equal chances but not many believed in it.
Doge  price exploded and in 2 weeks many people jumped into train.
Do you know HOW many you will need pay for that media attention normally ?I think is much more than is current market cap of all Doges out seriously.
I have many coins but personally i like Doge more than others because all what Doge achieved was driven by community
no premine money for bounties and investors.
In opposite we have coins like quark mined out in 98% end everywhere where someone advice buying quark you find someone telling you f. that is premine scam
even it is interesting coin but bad karma is always after it.
By the way to keep Doge alive we don't need 200Ghs speed.

 Indeed.

The reason you aren't seeing as much money is probably due to the block reward halving people will quit mining due to this, and the fact that the limited supply is now gone

What you are doing now is wrong, ask yourself what happened to those who sold Bitcoin when it was $ 1-2

I have not sold and will not sell anything for at least 6-8 months, after that i can analyze what to do.

The price is low for all the coins only because too many throw them on the market as soon as they arrived 

So as of this morning, my 2.6MH/s RIG that used to produce avg $23/day has suddenly dropped to $13/day (based on Coinbase USD prices and me mining profitable coins shown on coinwarz and actively switching between the top coins). I am struggling to find coins that are not on coinwarz to I can mine those and be safe from the crowd impact but they are becoming harder to find. SMC, LEAF, DOGE, DGB were my favorites with all constantly returning $23 avg after electricity.

Are we feeling the impact of the DOGE community abandoning DOGE mining and pouring all over other coins? Just like the massive traffic around a sports stadium after a sold out game ends?

Can someone please make a popular coin so it fills hte void created by the DOGE demise? Contrary to what a lot of people think, it is great that we have new shitcoins come out every day otherwise the income from LITECOIN alone would've been negative already with the huge crowd doing Scrypt mining. In other words, please make shit coins like MOON and take away the hashing power so we can breath!

OR

Is this sudden increase in massive NET hash power overnight because of the flood of new AMD GPUs that are getting delivered, or becoming more in stock lately with tons more scheduled for delivery by the end of Feb at most online stores?