Topic: Will dogecoin become like Bitcoin? - page 3. (Read 2561 times)

the difference is volume, there are much more doge coins. That means that if there are x100 more you need to multiply the price with the same amount. If u do that it comes a bit closer already. But no, the price wont go much higher simply because the mass will never use this ridiculous coin.

Rather than follow LTC's lead Doge is slowly following Coinye's lead - the community support cannot overcome the inertia of miners dumping the coin for minimal profits.  Any rise in price is met with a few miners throwing ASICs at it for a couple hours and dumping.

This can probably be moved to the alt coin section. IMO dogecoin won't ever come close to BTC prices. I don't think the devs even intend on that.  I guess anything is possible, but very very improbable

The differences between the two is total supply and demand. The price of a coin (or anything for that matter) largely depends on these two things. The more demand there is, the higher the price. The more supply there is, the lower the price. This is why there are some coins out there like 42coin which nobody really wants, but because the total supply is so small (i.e. there are currently only 12 of them on the market and there will never be more than 42 coins ever mined - hence the name), each 42coin sells for a whopping $2,000.

Now, as you might already know, Bitcoin is a much more established cryptocurrency than Dogecoin so naturally there is greater demand for it. Hence, even if Bitcoin and Dogecoin both had the exact same number of coins, Bitcoin would be priced higher than Dogecoin. But more importantly, Bitcoin is much more scarce compared to Dogecoin. Bitcoin has about 13 million coins at the moment and will never have more than 21 million coins. Dogecoin does not work in the same manner. There are many, many more dogecoins, and new dogecoins will always be produced since there is no cap. For example, right now there are almost 90 billion dogecoins:


In order for 1 dogecoin to be worth $1 today, Dogecoin would have a market cap of $90 billion. In order for 1 dogecoin to reach $100, Dogecoin would need to have a market cap of $9 trillion. So you can see why this would be infeasible.

Law of supply and demand at work.

No one will pay high price knowing there is 80B existing doge coin out there.

wont happen, over 80 bil doge and you can mine as much as you want. And BTC 21 mil max and a lot left to mine.

The coins were supported by GPU miners alone. Now, even the miners are abandoning the ship.

along with the rising popularity of digital cryptocurrency or the exchange rate, then comes Dogecoin, initially only to make fun of the Bitcoin exchange rate moves abysmally, sometimes high up and not infrequently also dropped drastically.

What can I say, from the beginning just to taunt now Dogecoin Bitcoin bandwagon even fame, its value starts to rise and have their own fans. This Dogecoin new Padahaln circulating early December.

There are even people who intentionally facilitate transactions through the site Dogecoin Dogemarket. On this site, a variety of goods can be purchased Dogecoin wear, although this time the value of the Dogecoin only comparable to the US $ 0.00023.

It is still much value when compared with Bitcoin, whose value has been through US $ 1200 and is now traded in the range $ 700's. But first Bitcoin also start with a value that is also almost the same size.

However, now more and more people are transacting and mine new digital currency. The rabid fans of the Doge's meme even directly create an official forum named Dogecoin.org to help beginners who are interested in using Dogecoin

I see what you are saying, but it does continue to have a strong community behind Doge.
Also, from what i've read, they have some parties already figuring out ways to put them in the right communities to make it valuable for people.

ie. Tipping app (FB), live mmo game that lets you mine.

there may be more now.. so.. who knows...

it'll never be as high as bitcoin, but it definitely has the potential to be one of the few crypto-currencies left standing after many randos start washing out...

lol can't believe doge even made it this far, congrats to them but anyone that thinks a coin made after a stupid meme will get as big as BTC is off their rocker

Doge hype is over and won't come back.

ok That finishes the topic right their no need to discuss more, I think?  

NO
The reason is the supply side of it there are far to many Dogecoins to see a price similar to Bitcoin
However the viability of a coin like Dogecoin in the future is a question I initially wrote it off but it exploded and is still a fairly large coin in usage and marketcap and got some people into cryto, so it may still exist in one form or another.

I do not think so, but we will never know the future events
The most basic difference, Bitcoin: BTC Dogecoin: DOGE 
BTC has 15 million coins while Dogecoin has more than 80 billion coin

I don't think this is ever gonna happen. BTC has only 15 million coins while Doge has unlimited supply of coins with over 80 billion coins already in rotation.

So the question is simple will Dogecoin come to a stage like BTC has does? 600$ mark? Or even 100$  mark? What is the main difference in these coins?