Topic: winter is cold and it snows (Read 2592 times)

doge reward is halved every 2 weeks or so that creates an illusion that it will getting scarce pumping up the price, I'm pretty sure that by the time btc reward about to be halved in 2016, btc will be close to 100k a coin. Imagine this halving happens to dog few times a month. Doge was supposed to be all mined in a year, so scarce, omg . Not sure what going to happen after dat, I hear devs left it to 10k per block infinitely, but dat might not be enough incentive to miners, I bet devs can switch their mind few times at will as shibes never care, much concern. That's the beauty of it.

I was a dogehater since the day it was released. I made fun of all the doge supporters and thought they were just trolls. I assumed the price will crash soon because once the premined coins dump on market there is no bottom. I also thought that there is no way dogecoin community can bring in enough suporters so as to keep the price from falling since almost a billion coins are generated every day. Then a strange thing hapened while I was bashing dogecoin a usual on reddit bitcoin.

A dogecoin supporter tipped me 1000 dogecoins. That was when dogecoin was at 60 satoshi hence wasnt much in btc really. I thought i would put a post on dogecoin subreddit and ask for anyone to comment and convince me why dogecoin would succeed and why should i believe its not a pump and dump coin. My post received more than 100 comments and to my surprise all comments were polite and provided fair explaination. I even got 3500 more dogecoin tipped for the post.

Since then I have been hooked to the community and have donated more than 100,000 coins to various charities sponsored by dogecoin community and tipped more than 50,000 coins to newbies to welcome the community.

I think its this chain reaction that keeps dogecoin going. I am not a polite person in real life and I usually show my true colours while I am at bitcoin subreddit. However whenever I am commenting or posting on dogecoin subreddit there is something that keeps me always positive and happy.

Dont believe me, fine. Just put a post at dogecoin subreddit saying that you are new to dogecoin. Just that nothing else and see how the love pours in tips and welcome notes.

P.s. I found out later that dogecoin is not at all premined and thats when I converted by btcs to dogecoins.

I highly doubt there are paid posters.  Spamming forums at the beginning of a coin's life is what everybody does.  It is absolutely in the interests of the founders and first miners to do this, they don't need to be paid.  I think there is a good argument to make that this wasn't intended to be anything more than a short term pump, but by accident or design, it found a niche.

One of the key players driving the dogecoin economy appears to be moolah.ch.  They seem to have big ambitions (atms, a payment processor, mobile wallets, tipbots and many other things) , but I am not sure how much capital they have behind them. I am just surprised so many people write this coin off because of a marketing gimmick.

As I see it...

Pros:
1. Hell of a community, young, motivated, plugged into a lot of media.  Very strong brand.  Never discount it.
2. China exchanges picking it up increases demand just as a reward halving decreases supply.
3. Dogewand.  If it is ported to Facebook and other social networks, demand for Dogecoin could increase exponentially.

Cons:
1. Large amounts of early mine coin in relatively few hands.  If the outlook sours they will probably dump and the market could be crashed.
2. Memes can be in one day and out aother.
3. Very inflationary coin which doesn't really have any technical innovations.

I was in at 160ish and out at 250ish.  May consider buying again; I could see 300+ if china demand keeps up after the reward halving and 500+++ if dogewand works and is picked up on other social networks.  Right now I think Vertcoin and Kittehcoin are better short term bets; I would put Doge in third place.  

Medium to long term I like Protoshares and Counterparty (XCP).

The survey is real, but it does not encompass the entire population.

I quote "2,000 online shoppers quizzed" Now let me break this down for you.



Breakdown

When they quizzed these 2,000 shoppers, what website it was on? A certain type of person of a certain status are more likely then others to access this website. Basic cultural anthropology.

Now, besides what type of site because it was most likely a tech site, a bitcoin quiz is not going to be on a barbie or clothing store site; a certain age and gender would even go onto a shopping site that has a quiz about a Digital Currency. Get the picture?

Let's break it down even further.

At what time of day was the survey taken? Now this again splits the segment of the population even further, due to schedules.. work and mostly everything basically.

Who is more incline to take a survey about bitcoin? A person who has never heard of bitcoin? Well the word Bitcoin would have no meaning to them, therefore no inherent value or gain from taking this survey.


A more likely scenario would be someone who in fact has heard of bitcoin, and is willing to spend time to gain (in his or her own way) by taking the survey.



Summary Statement

Type of person shops on website (X) at time of day (Y) age group were these shoppers (Z) bitcoin awareness (A) and probably thousands of other variables that anyone can think of. This all effects the overall statistic.





Therefore, the statement of "57% of brits are aware of bitcoin" is false.




You get the basic idea i'm trying to convey. I broke down the reason WHY statistics are most likely bullshit. It appeals to a very very small isolated segment of the population.

Its the people....ummm wait...yes, yes.... the people are worst

DOGe uses subliminal messages very well and thus liked by many and attracks owning. The more demand the price increases.

Dogecoin compressed time by the factor of 12x. What took BTC and LTC years to achieve, DOGE achieved in months due to its community, that makes it better than LTC at least.
When people say, DOGE doesn't bring anything new, well, true, but it doesn't have to. All it needs to succeed is to take the old from the leaders, to draw userbase to its side, to cut a market share.

After all, all cryptos' value is 50% or more - pure speculation, including the grandfather - Bitcoin. So your question on what gives value to DOGE is equally valid for all of them more or less.
I didn't own a single DOGE 3 weeks ago and was sceptical about it. I've changed my mind since. I may be wrong, you don't always hit the right one in investment. The most important point is - don't listen to anyone's advice on the Internet, do your own due diligence. If you don't understand something, don't invest, because it's a sure way to lose money.

He was quoting a real survey.  http://www.coindesk.com/most-brits-aware-bitcoin/

57% of brits know what bitcoin is and 100% of people eat food everyday.


I don't know what's worse the statistics people make up or the people who believe them

57% of brits do, which is already a high percentage of one population.
In the world? I'm not so sure about that. You just have a big percentage of people who can't read, write, use a computer..

The block reward for doge should halve soon if I'm correct.

I doubt 5% of the world even knows what bitcoin is.

how many coin types that exist isn't relevant. There are only two coins any human outside of this forum talks about Dogecoin and Bitcoin. Bitcoin only because it is #1.

you have many choices, the world knows of only two and bitcoins are boring

That's a brilliant analogy (really!) - rocks or paper bills I guess it's sort of the same thing when we assign value to them.

Although if there were new rocks of a different colour being washed up on shore every week, wouldn't there be some dilution of the value? We have way too many new coins that will never be used for anything but collecting, for sake of collecting.

Block rewards halving in 2 days so there will be less able to be mined and therefore less able to be sold.
Litecoin is worth 17-18 bucks each, yet doge is worth 0.0017 cents each, yet doge is more popular.
It is therefore cheap.
It has upside.
No other interest in other coins at the moment so everyone just riding the doge wave.
Deleveraging from LTC and BTC into DOGE.
It is the most profitable coin to mine and very stable as opposed to all those stupid Alts
that swing wildly for a minute then back down to unprofitable territory, stuffing up your hashing power when in a switching pool.
1 Doge is worth 0.0017 cents! How is that expensive? I see it going to a cent atleast!

Just my 2 c

To a certain population or segment of people. You only hear about these stories because you are entrenched in the alt-coin world.  This is mainly coming from users on reddit, which has little meaning when it comes to market manipulation. When manipulations do happen, then the people who are hyping or following these stories get in 1by1. Then a bubble/chain reaction occurs with trend and high-frequency trading.

Like i said before, doge is just a fad and all fads die. But i respect everything about Doge.

... which is again, just like every coin that gets popular.  If whales are in a coin, it's because it's a popular, profitable coin.  I mean, when you have people coming out in freezing weather to meet about the coin, dress up in costumes, and deface the wall street bull after successfully running large olympic donations it's kind of hard to argue that the coin isn't popular with regular people.

because it actually has a community behind it unlike any other shitcoin.

/r/dogecoin at 60,000 subs dont mean anything?

There are several things to look at to see why doge is rising. 


First try to stop thinking of doge as a meme or the silly dog, hard I know.  But your mostly asking this because you think the name, the meme, the people or all of the above sound silly.  And why would anyone invest in silly.  Would you be asking the same if Quark or Vertcoin were rising?
Most people can't decouple doge as a currency vs "doge supporter having fun with the meme aspect of it"
- Many company's had their names based or derived from something silly or sounding silly IBM (HAL computer), google, etc.

Lately there has been several pieces of good news for doge, I'm not ranking them in any particular order here, or based on any overall impact.

1. Block split coming up which many people have mentioned and explained to death.
2. Olympic coverage of the Bobsleding will start in a few days and with Doge's generous donation to the Jamaican team, it will likely receive some press coverage on a global scale. http://imgur.com/a/poW9D
3. Doge party on wall street which covered up the bull with a doge logo, made it to business insider (not the first time). http://www.businessinsider.com/dogecoin-party-2014-2
4. Dogecoin now has a lite wallet http://multidoge.org/, which I believe makes it the first altcoin with one.  This is great because new users can jump into the game quickly, without waiting for full blockchain dl.
5. With the dip BTC has been taking, Doge has seemed fairly resistant to the drop unlike with other coins, which is helping it stand on its own.

Finally not new items but my own personal thoughts


- Community, community, community community!  Doge supporters are generally great people and extremely welcoming to new users and they are bringing them in in droves.
- On top of that there new development daily, sites added accepting doge, great buy and sell markets, gambling sites, to really get people using doge as a currency.
- Tipbots for everything are popping up reddit, twitter, fb in the works, which is great gesture, promotes the coin, and bring new people in.
- I personally feed that all those things has allowed doge to act like a currency unlikely bitcoin and several other coin which feel like more of an investment (like gold, stocks etc).  Don't take this as a knock against bitcoin.

- Lastly the crypto community here is a great bunch and very technical but coin adoption from none crypto people are really what matter when we talk about a successful coin, because it drives growth and demand. Anybody new into crypto coins doesn't give a shit about a 51% attack ,ASIC, resistance, checkpoints, a 2% inflation that could happen in 15 years they care about "what does having some of this coin let me do today".

Thanks

The giants do not need motive now, the markets are activated. The only time the motive was clear, was the initial spike of Doge's value.


Now, it's just a game controlled by a few



So many people are watching doge, that any sudden rise in price will spawn an entire army investors. And you can almost thank bitcoin for that also, BTC is not an exciting quick profit market anymore.