I was one of the first miners for Doge coin back in late 2013 while I was working on the Marinecoin wallet, I had 20 MH GPU rigs huge scrypt hash back then and was very hard to mine DOGEs even back then, now the the Doge hashrate is over 1THs with the power of 3000 KNC Titan Asic Scrypt miners requiring 1700 Watt each and yet daily rewards total is merely 2,400 USD. not even close enough to cover electricity costs let alone the cost of manufacturing the rigs even if you had free electricty
You can buy entire days DOGE output for only for 2400 USD on the exchange, if you decide to mine that amount cheapest rig rental is 0.00045 BTC per MH per hour would cost 45 BTC per hour x 24 hours = 1080 BTC cost per day to hire a rigs to mine a days supply of doge coin 240.000 USD, considering that many rigs are not available for hire it is also impossible to mine it if you were the richest man in the World.
Litecoin daily reward at 120.000 USD with just about the same hashrate.
Litecoin community pretty much doesn't exist, Doge community is by far the strongest and by far the most active same goes for their devs, usage of Dogecoin surpassed LTC and if a site accepts LTC it usually also accepts doge, same goes for exchanges, Doge in China is as big as BTC.
if a corporation decided to create a similar market awareness for anything it would cost 100s of millions in USD in just marketing yet entire Doge market cap can not buy a 5 bedroom apartment in NYC. and probably only could afford to get a 1 bedroom apartment in NJ if they really decided to sell their Dogecoins and get one.
Someone tell me what I am missing?
Marinecoin DEV
Dogecoin is cheap, for sure, but it is
relative.
To explain it better, there is another coin, I will not name it, just some characteristics:
1) The trade volume of coin used to be higher than Doge's one in 2014.
2) One of developers of this coin is a person on whose code Dogecoin was based.
3) There is an active community of this coin and this coin is not very much less known than DOGE, here on Bitcointalk, at least.
4) There is a good liquidity on Cryptsy.
5) It has much better name.
6) You can buy on Amazon, eBay, Overstock, Barnes&Noble, Groupon etc. with this coin.
7) Total supply is limited and year mining inflation is 5% only, pure PoW.
The market cap of this coin is under
$200,000. Dogecoin's market cap is $19 mln.
The problem is: people don't invest in coins now. They would better buy an appartment in NYC than investing in Dogecoin, or buy a car than investing in above mentioned coin. You may tell them a lot, you may promote, people will not listen, will not buy - for the time being.
The boom will come a bit later.
We should wait and that is all.
I'm interested in the name of this coin. Could somebody PM the name? I would really appreciate it. Thanks
