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What do you do with Dogecoin though? It's market cap is $91MM and yet its creation was a joke.
by chrishacken 9y ago
What do you do with Dogecoin though? It's market cap is $91MM and yet its creation was a joke.
- sjg007 9y agoWhatever you want. Crypto currencies are the fiat currency end game. Get enough foreign currency cross pollinated via bitcoin (and assuming enough political clout) and the world will suddenly change.
- vit05 9y agoSome people say that moving Value from one exchange to another is cheaper when using DOGE than it would be using Bitcoin.
- aml183 9y agoI guess sell it. People think it's valuable. Cryptocurrencies are priced not valued. You can't just go Dogecoin is valued at X. Dogecoin is priced based on supply and demand which is saying it's worth $91MM.
- runeks 9y agoAll Dogecoins in circulation are not worth $91m. For that to be the case, there’d have to be people willing to buy all 111 million Dogecoins for $0.000796 each, which is not the case at all. People are only willing to pay this price for a tiny fraction of all Dogecoins in existence; as we go beyond that, the bid price starts approaching zero.
- CamelCaseName 9y agoThe opposite is also true, and not just in assets like stocks but cryptos as well. The price of any asset increases substantially if you try to buy a significant stake.
- dredmorbius 9y agoAs David Gerard notes, market cap of cryptocurrencies is a false and misleading metric. Look to total circulation volume/time, and realise it is exceedingly thin.
- tpallarino 9y agoIt's not any fundamentally different than Bitcoin, in fact it's probably better for money laundering than Bitcoin because nobody cares. Furthermore, the market cap was $400MM a few months ago, so does that mean we're still in a "bubble"?