1. Create a generic clone coin that nobody would care about.
2. Add something that is already viral in the net that people like and can identify with.
3. Reel in all the the newbs that never had anything to do with crypto.
4. Have them buy doge because, well, it's
doge and he is
cute, and they want to be good little shibes, and very wow, etc.
5. Profit.
That is my summary of dogecoin. A genius scheme, really, and great for introducing people to crypto that would not have cared otherwise. It's just sad that the coin itself is such utter crap, and that it's rise in price is only carried by the sheer amount of doge-crazed sheeple pouring in and investing. Yes, please do hate me for that sentence. Anyway, this will go well for a while, and during that time there will be, er, much profit.
But some time in the not-so-distant-future this trend will reverse. Doge needes over one million dollars
a day pouring in to keep the price stable/rising (at given price and mining rate;
source:
http://cryptosource.org/good-buys-and-coins-to-avoid-how-daily-coin-maintenance-costs-should-factor-into-your-investment-decisions/).
Will that stream never subside? It definitely will, once the doge-craze subsides. And the broad mass of people will never adopt a coin called dogecoin, offering nothing beyond that, which is already being used to make fun of bitcoin and cryptos in general.
That is the point when doge will be caught in an inevitable downward spiral. Only what happens with all the doge holders making so loss? Will they turn to one of the smart crypto investments out there? Or will they tuck in their tails and hate all cryptos from that moment onwards?
THANK YOU for your sensible response
i have to concede it is bringing in people to Crypto and i will admit that is a good thing
BUT another coin could have done that with out disgusting so much of the public too !
AND it would have been smart of the community we have to bring forward to the public ANY coin with ANY usefulness or innovation
not for the love of god another scrypt clone
and these new guys don't know shit and they won't admit it.. well maybe a couple here have said *maybe Doge could fail
but none usually fail they drift off into obscurity and lose popularity.. most never really go away ..they hang on and on and just won't die lol
and all my peers in the scene already know this well.. and some use that to their advantage such as the old mine and make a re-launch for profit routine etc
but what is pissing me off is this coin should have not gotten off the ground and it should not have been added to exchanges
and pool ops should not have fumbled over each other to make pools and it should not be the world wide face of crypto.
Do we really need or want brats ? is that the crowd we want to draw in ? ..because look at who we are attracting guys..
These guys have zero retorts when i point out all the problems with the coin they attack me and start lying etc
and do we need every new person lied to ? these guys can not even admit it's nothing more than a scrypt clone
like i joked about 8 mo's ago in that link where i made a coin tricking people.. the description is so close to Doge you would be surprised it came out in July 2013
this crap never ends since that post i made in July 100's have come and gone and they won't even admit it !
I can tell ya what is going to happen.. mining will become unprofitable and all the mouth piece's will scatter and vanish (the so called Doge community)
the noobs don't know that because they have not been around to have watched it happen a million times before, so i am warning them..
because the Doge pushers are not being honest with the new users their are actively recruiting for what can only be called a Ponzi scheme
and what happens too the guys on the bottom ? ..a lot of people are going to get burned and they will not have the trading skills to recoup their losses.
I think a lot of you are forgetting YOU know all about this stuff well so do i and i understand the risks involved and still get involved with coins i think are ponzi'esque
but is it not fair to warn strangers that come along and are overwhelmed by the propaganda of Pumpers who screech buy buy buy buy..
these guys often want you to by their bag.. and hey, many guys won't even know what that means for christs sakes ?
They will drain the noobs dry and say fuck em and scatter and move on to the next coin.. and brag about how 'much' BTC they 'very' made
AND you guys have the nerve to say to me "It's good, it's bringing in new users".. new users that have 1 interest getting in on a ponzi scheme.
Do we need to attract and recruit more guys that will act like that ? Are these the kind of people we want involved ? ..delusional / dishonest pump & dump scammers ?
We already have enough people that prey on the stupid.. recruiting them is a not a plus and a good selling point and excuse as to why doge is good guys sorry
try again ?
so far you guys have 0 reasons to refute my claim(s) ..as far as i am concerned it's me 100 and all the rest of you Doge cheerleaders 0