The reason Dogecoin could fail in the future - page 4.

Kelvinid

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Quote from: Silberman on December 17, 2022, 10:32:04 PM

Quote from: serjent05 on December 16, 2022, 05:56:48 PM

Quote

So, I don't believe dogecoin will eventually fail, it's a huge big no for me, and I know it's different here for sure.

Without technological advancement, it will become obsolete. Dogecoin will be lagging in technology and problems will occur. Aside from that, the Dogecoin supply is not capped, meaning its supply will inflate infinitely. When there is a surplus of supply the demand suffers, when the demand suffers, the price plummet. When the price plummet people will look for other beneficial investments. It is the norm in investment so there is a possibility that Dogecoin will eventually fail if there is no improvement done to its technology.

Dogecoin supporters seem to believe that just because dogecoin has always been a meme coin without too much emphasis on its usefulness that it can keep being a useless coin and nothing will happen to it, but when we have hundreds of other coins which are following the same formula then the huge level of competition will at some point cause dogecoin to lose popularity, and once this reaches a critical point it would not surprise me to see the value of dogecoin crashing and never recovering.

We have Solana as another popular meme coin but look, it is slowly out from getting popular and only Dogecoin remains strong and gain huge support from the community. Well, I couldn't really say that Dogecoins is useless because of its very low fees compared to ETH, many people have the option and converting their coins with Dogecoin and moving their coins to another wallet. Because if people are totally right that this coin is useless, I think we never see this among the top 10 coins in the market but see, it was there.

Xal0lex

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Quote from: Pam beasely on December 13, 2022, 03:32:21 AM

Dogecoin gained popularity due to its low cost as well as its welcoming community. Its community of users behind Dogecoin is involved on various social platforms, and it gained popularity specifically from Reddit.

Doge could fail because -
Dogecoin could fail in the near future due to its outdated blockchain technology. The Dogecoin blockchain is built on the Litecoin blockchain, which is based on Bitcoin's Blockchain.
One of the main issues with old blockchains is that they're not scalable. They are unable to manage large volumes of transactions without slowing down or mistakes.

Investors advice on investing in Dogecoin now as this is being the best time to purchase doge. Dogecoin prices are expected to rise as we approach the annual close. The increase in price fluctuations may eventually assist the price to soar and as per Coinpedia doge price prediction it will close the year at $0.118.

Are these cons going to result in dogecoin price failing or Elon Musk support for it make this coin price increase?

What? Because of outdated technology? Jesus, who cares what technology DOGE has anyway? It's just a meme coin that Elon Musk speculates on in his tweets. It's not some protocol or technological project that solves certain problems, it's the most ordinary speculative coin, whose value depends on the mood of a certain person. Most investors don't care what technology DOGE has, all that matters is how Musk promotes it.

Abiky

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Quote from: jossiel on December 17, 2022, 02:35:43 PM

Yes! I also miss those days when it's too cheap and we're all happy to do transactions and no complaints about the fees.

Well, like the old days everything has been okay but what we are experiencing right now is part of the market's maturity and growth.

It's possible that Dogecoin might be delisted by some exchanges but who's going to dislike this friendly meme coin?

Every coin gets delisted from exchanges for unknown reasons. But I can tell you that DOGE will survive because it's one of the oldest cryptocurrencies on the market with a strong community behind it. Elon Musk may have "pumped" its price last year, but it seems things have settled up a bit. Prices aren't moving that much because there is a lot of negativism surrounding the crypto/blockchain industry. Dogecoin wasn't meant to be used seriously, so I wouldn't expect huge returns from it in the future.

I'd be surprised if it goes to $1 due to hype. If that happens, network fees won't be inexpensive anymore. I'm pretty sure developers will think of something before network fees soar like crazy. Who knows how far will the "meme" coin go? Just my thoughts Grin

Silberman

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Quote from: serjent05 on December 16, 2022, 05:56:48 PM

Quote

So, I don't believe dogecoin will eventually fail, it's a huge big no for me, and I know it's different here for sure.

Without technological advancement, it will become obsolete. Dogecoin will be lagging in technology and problems will occur. Aside from that, the Dogecoin supply is not capped, meaning its supply will inflate infinitely. When there is a surplus of supply the demand suffers, when the demand suffers, the price plummet. When the price plummet people will look for other beneficial investments. It is the norm in investment so there is a possibility that Dogecoin will eventually fail if there is no improvement done to its technology.

Dogecoin supporters seem to believe that just because dogecoin has always been a meme coin without too much emphasis on its usefulness that it can keep being a useless coin and nothing will happen to it, but when we have hundreds of other coins which are following the same formula then the huge level of competition will at some point cause dogecoin to lose popularity, and once this reaches a critical point it would not surprise me to see the value of dogecoin crashing and never recovering.

jossiel

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Quote from: AmoreJaz on December 16, 2022, 05:10:58 PM

Quote from: jossiel on December 16, 2022, 05:05:38 PM

For a long time that there's no one that have noticed Dogecoin, it's been there stable and not the choice of being delisted in exchanges.

Exchanges have already recognized that there's huge community that backs it up for Dogecoin and they'll lose a lot if they will delist it. And even if Dogecoin will fail in the future.

It's not that a big surprise because whether it fail or not, people have already recognized what Dogecoin is.

it may just go back to where it was if this old meme coin will not be developed. i missed those times that we enjoy much cheaper tx fees for this coin. right now, they are not that cheap anymore compared to before or to other alts. most exchanges have their doge in their trading list, so i don't think they will just delist it for no reason. doge has been popular already even before elon picked up this coin to promote via his tweets. so i would say, it has solid foundation already. unlike new meme coins or tokens, where they can easily disappear. but with doge, it may just go back to where it was.

Yes! I also miss those days when it's too cheap and we're all happy to do transactions and no complaints about the fees.

Well, like the old days everything has been okay but what we are experiencing right now is part of the market's maturity and growth.

It's possible that Dogecoin might be delisted by some exchanges but who's going to dislike this friendly meme coin?

Abiky

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Quote from: Pam beasely on December 13, 2022, 03:32:21 AM

Dogecoin gained popularity due to its low cost as well as its welcoming community. Its community of users behind Dogecoin is involved on various social platforms, and it gained popularity specifically from Reddit.

Doge could fail because -
Dogecoin could fail in the near future due to its outdated blockchain technology. The Dogecoin blockchain is built on the Litecoin blockchain, which is based on Bitcoin's Blockchain.
One of the main issues with old blockchains is that they're not scalable. They are unable to manage large volumes of transactions without slowing down or mistakes.

Investors advice on investing in Dogecoin now as this is being the best time to purchase doge. Dogecoin prices are expected to rise as we approach the annual close. The increase in price fluctuations may eventually assist the price to soar and as per Coinpedia doge price prediction it will close the year at $0.118.

Are these cons going to result in dogecoin price failing or Elon Musk support for it make this coin price increase?

Dogecoin's price falling in the future? Yes. But even so, I think Dogecoin will survive because of its decentralized and censorship-resistant nature. Before Elon Musk began supporting the cryptocurrency on Twitter, Dogecoin already had a respectable amount of supporters behind it. If Mr. Musk gets bored of DOGE, the community will help prevent the coin from collapsing in its entirety. Dogecoin may not scale towards millions of people worldwide with its on-chain capacity, but it's still a fun cryptocurrency that doesn't "break the bank".

My guess is that developers will port "The Lightning Network" into Dogecoin, once network usage increases by a large margin. As far as I know, there hasn't been any network congestion yet, so scaling off-chain would be something of little concern these days. Who knows what would be of DOGE in the future? Just my opinion

serjent05

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Quote

So, I don't believe dogecoin will eventually fail, it's a huge big no for me, and I know it's different here for sure.

Without technological advancement, it will become obsolete. Dogecoin will be lagging in technology and problems will occur. Aside from that, the Dogecoin supply is not capped, meaning its supply will inflate infinitely. When there is a surplus of supply the demand suffers, when the demand suffers, the price plummet. When the price plummet people will look for other beneficial investments. It is the norm in investment so there is a possibility that Dogecoin will eventually fail if there is no improvement done to its technology.

wheelz1200

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Quote from: MAAManda on December 13, 2022, 06:06:11 AM

Dogecoin will not be abandoned, it will always be remembered as one of the low cost coins and people will always use this coin for transactions. But to invest in this coin, I personally would not do it, because basically this coin doesn't have strong enough fundamentals and ecosystem, only relying on their community which continues to shill like for example what Elon Musk did some time ago. Do you think that Dogecoin will experience another fantastic price increase?

No. Altcoins and fads usually only get one massive pump or bull run. Can you makeover with doge long term, maybe. But with the block rewards set at 10k new coins each minute forever, usd pricing will never be able to keep up. Value in usd will continue to drop even if demand stays static, just because the supply keeps going up.

AmoreJaz

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Quote from: jossiel on December 16, 2022, 05:05:38 PM

Quote from: Maverick574 on December 16, 2022, 12:14:33 PM

Dogecoin won't be deserted, it will constantly be recognized as one of the minimal expense coins and individuals will continuously involve this coin for exchanges. In any case, to put resources into this coin, I for one wouldn't make it happen, in light of the fact that essentially this coin doesn't have sufficient basics and biological system, just depending on their local area which keeps on peddling like for instance what Elon Musk did some time prior.

For a long time that there's no one that have noticed Dogecoin, it's been there stable and not the choice of being delisted in exchanges.

Exchanges have already recognized that there's huge community that backs it up for Dogecoin and they'll lose a lot if they will delist it. And even if Dogecoin will fail in the future.

It's not that a big surprise because whether it fail or not, people have already recognized what Dogecoin is.

it may just go back to where it was if this old meme coin will not be developed. i missed those times that we enjoy much cheaper tx fees for this coin. right now, they are not that cheap anymore compared to before or to other alts. most exchanges have their doge in their trading list, so i don't think they will just delist it for no reason. doge has been popular already even before elon picked up this coin to promote via his tweets. so i would say, it has solid foundation already. unlike new meme coins or tokens, where they can easily disappear. but with doge, it may just go back to where it was.

jossiel

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Quote from: Maverick574 on December 16, 2022, 12:14:33 PM

Dogecoin won't be deserted, it will constantly be recognized as one of the minimal expense coins and individuals will continuously involve this coin for exchanges. In any case, to put resources into this coin, I for one wouldn't make it happen, in light of the fact that essentially this coin doesn't have sufficient basics and biological system, just depending on their local area which keeps on peddling like for instance what Elon Musk did some time prior.

For a long time that there's no one that have noticed Dogecoin, it's been there stable and not the choice of being delisted in exchanges.

Exchanges have already recognized that there's huge community that backs it up for Dogecoin and they'll lose a lot if they will delist it. And even if Dogecoin will fail in the future.

It's not that a big surprise because whether it fail or not, people have already recognized what Dogecoin is.

Yamifoud

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Quote from: Maverick574 on December 16, 2022, 12:14:33 PM

Dogecoin won't be deserted, it will constantly be recognized as one of the minimal expense coins and individuals will continuously involve this coin for exchanges. In any case, to put resources into this coin, I for one wouldn't make it happen, in light of the fact that essentially this coin doesn't have sufficient basics and biological system, just depending on their local area which keeps on peddling like for instance what Elon Musk did some time prior.

That seems right...fees it a little bit far from ETH were it become a reason that many traders are still using this Dogecoin despite the negative view we heard.

Quote

Dogecoin has a relatively low transaction fee, making it an affordable option for online transactions The average transaction fee for a Dogecoin payment currently stands at 1.20 DOGE, or $0.11. That's lower than Bitcoin's average fee of approximately $1 per transaction and Ethereum's $0.53.

source: https://www.fool.com/investing/2022/12/16/dogecoin-the-ultimate-blend-of-absurdity-and-value

It is coast reliant and this could help people will not abandon this project but rather keep this alive.
In fact, as we can see even before Dogecoin had never been out of the top 20 coins in the CMC. Meaning, there is huge support from the community, not just Elon Musk who has been shilling this in the past years.

Maverick574

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Dogecoin won't be deserted, it will constantly be recognized as one of the minimal expense coins and individuals will continuously involve this coin for exchanges. In any case, to put resources into this coin, I for one wouldn't make it happen, in light of the fact that essentially this coin doesn't have sufficient basics and biological system, just depending on their local area which keeps on peddling like for instance what Elon Musk did some time prior.

SquallLeonhart

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Quote from: Pam beasely on December 13, 2022, 03:32:21 AM

Investors advice on investing in Dogecoin now as this is being the best time to purchase doge. Dogecoin prices are expected to rise as we approach the annual close. The increase in price fluctuations may eventually assist the price to soar and as per Coinpedia doge price prediction it will close the year at $0.118.

Are these cons going to result in dogecoin price failing or Elon Musk support for it make this coin price increase?

Doge coin could fail because it is a failed project to begin with. It was never meant to be this big, hell it was never meant to be going on this long neither. It is funny that people think that it is a legit project that you should invest into.

Just because Elon said it, doesn't mean it is good, people put Elon to a high table and they thought that he was a great person, we have seen how terrible of a human he could be, dude literally hates everyone who steals his spotlight and he has been acting out for the past few weeks as well since the twitter takeover, he has lost his mind. So this is the guy everyone believed and bought a coin, that makes no sense to me at all.

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Quote from: Lambe Ndumble on December 15, 2022, 02:14:10 AM

Quote from: Thuy Anh on December 15, 2022, 01:55:04 AM

I don't think Dogecoin is going to die. Elon Musk prefers it. Musk has a lot of brainless fans. When Musk posts support for Dogecoin, many people will buy Dogecoin. Of course, many people will buy or sell Dogecoin depending on the timing, because they all want to make money.

Dogecoin is a relatively successful memecoin.

The main reason Elon Musk is because he hopes that the price of Doge can skyrocket so that he can get a big profit, according to many reports that Elon Musk has a big stock with Doge, of course he has the capital to continue to pump Doge and then when he feels getting a big profit then the best thing is immediately sell.

lol as long as there are ELon Musk Believers Dogecoin will remain like this , it will go up in certain period and will easily dump after the manipulation , we can still earn from this if we will get the chance to take the right timing when to invest and when to sell.

len01

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Dogecoin does have an outdated blockchain, but that doesn't mean that will be the problem. but Dogecoin will fail if it no longer has a function that can be abandoned by its fans.
We all know that to this day Doge is still used as an alternative for low-cost transactions and it will always be a favorite for everyone who wants to transact using low-cost crypto. so there is no reason Dogecoin will fail.

but as for the price of Dogecoin, I don't really know the predictions that will happen because behind Doge is Elon musk. surely we know what will happen.
and what needs to be remembered is that Elon musk is just the artist behind Dogecoin, don't trust artists too much

Lambe Ndumble

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Quote from: Thuy Anh on December 15, 2022, 01:55:04 AM

I don't think Dogecoin is going to die. Elon Musk prefers it. Musk has a lot of brainless fans. When Musk posts support for Dogecoin, many people will buy Dogecoin. Of course, many people will buy or sell Dogecoin depending on the timing, because they all want to make money.

Dogecoin is a relatively successful memecoin.

The main reason Elon Musk is because he hopes that the price of Doge can skyrocket so that he can get a big profit, according to many reports that Elon Musk has a big stock with Doge, of course he has the capital to continue to pump Doge and then when he feels getting a big profit then the best thing is immediately sell.

adzino

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Quote from: Pam beasely on December 13, 2022, 03:32:21 AM

Dogecoin gained popularity due to its low cost as well as its welcoming community. Its community of users behind Dogecoin is involved on various social platforms, and it gained popularity specifically from Reddit.

Doge could fail because -
Dogecoin could fail in the near future due to its outdated blockchain technology. The Dogecoin blockchain is built on the Litecoin blockchain, which is based on Bitcoin's Blockchain.
One of the main issues with old blockchains is that they're not scalable. They are unable to manage large volumes of transactions without slowing down or mistakes.

Investors advice on investing in Dogecoin now as this is being the best time to purchase doge. Dogecoin prices are expected to rise as we approach the annual close. The increase in price fluctuations may eventually assist the price to soar and as per Coinpedia doge price prediction it will close the year at $0.118.

Are these cons going to result in dogecoin price failing or Elon Musk support for it make this coin price increase?

Yeah so it is based on the same technology as bitcoin but you call it outdated? Bitcoin isn't scalable too, why hasn't it failed? But yes, like all other coins doge coin there is a chance that dogecoin might fail too, but that is very likely to happen. The community support is huge and it is still cheap to transact with dogecoin. Maybe it won't reach $1 or get pumped like before, but there will always be people using doge coin.

Thuy Anh

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I don't think Dogecoin is going to die. Elon Musk prefers it. Musk has a lot of brainless fans. When Musk posts support for Dogecoin, many people will buy Dogecoin. Of course, many people will buy or sell Dogecoin depending on the timing, because they all want to make money.

Dogecoin is a relatively successful memecoin.

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As far as I know, dogecoin was launched by two software engineers and made for entertainment purposes only, with no fundamentals whatsoever in the beginning. It's intended to be just a meme coin. Dogecoin has an unlimited supply, and there's no further utility. It started to get more attention when Elon Musk became interested in it and made a tweet about it. He became one of the most loyal supporters of dogecoin and built a hype around it that ended with the price massively increasing.

I honestly have a pessimistic opinion about Dogecoin's future if they only depend on Musk's hype to exist. Probably the downfall won't be in nearer time, but it's almost can be predicted if there's no other things that can build people's excitement due to dogecoin.

Silberman

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Quote from: Psynthax on December 14, 2022, 05:53:43 PM

if dogecoin remains with zero innovation whatsoever eventually it will fall just like any other meme coin and i'm sure of it, that's because there are always new meme coins being created that is trying to take some market share of dogecoin and in the long term that could affect doge coin, just see shiba inu with its innovation even though it seems right now doge coin is still going strong that's because all the shill coming from elon, even though there's certainly bigger chance that this coin will just stay as it is becoming a meme coin leader, that'll always retain its value.

For dogecoin this is a huge problem, for years it has depended on hype to keep investors interested despite the fact the coin is for the most part useless, and since it has not disappeared already some of its most stubborn defenders believe that it can last forever, but this is simply not true, at some point the hype will go away completely, and when it does, not only dogecoin will not be part of the top 10 anymore but I doubt it would be part of the top 100 or even the top 200.

Topic: The reason Dogecoin could fail in the future - page 4. (Read 720 times)