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It's a great crypto: to copy paste from an earlier comment, DOGE has the same UI as BTC as it is based on the same software (so just as secure and easy to add i
by 1996 5y ago
It's a great crypto: to copy paste from an earlier comment, DOGE has the same UI as BTC as it is based on the same software (so just as secure and easy to add if you already support BTC payments), but with more digits (no need for satoshis as the smaller unit), lowest prices (people do not want to own fractional number of a coin like 1/100 of a BTC, they want integers), widely available on most exchange due to having existed for a long time...
There is a strong usecase, at least as strong as LTC. I see it as a strong contender for the 3rd crypto, as a medium of exchange.
Also, the community has refused before to reduce the emission rate (which would advantage holders), meaning they remain open minded.
Given that and their past involvement with various charities DOGE has all my support: when it started increasing 2 months ago due to the WSB crowd, I deployed a few full nodes to give a hand as people were complaining how long it took to sync the full chain.
- praveenperera 5y agoReally? Whats the total number of doge that’s going to exist in circulation? For Bitcoin that’s 21,000,000 - lost coins.
- ikt 5y agoit doesn't have a cap, it's essentially designed to be a penny stock. 10000 new doge are mined every minute
- isoprophlex 5y agoBecause that number is fixed, that does mean that inflation slowly tends to zero as time increases.
- popcorncowboy 5y agoCould you expand on how a fixed rate of monetary issue would drive inflation to zero? Aren't there other factors (e.g. velocity of money) at play? I'm struggling to understand why.
- isoprophlex 5y agoAdding 10k coins to a supply of 10k: 50% value decrease. Adding 10k coins to a supply of 10M: 0.1% value decrease. Etc., meaning inflation is positive, monotonously decreasing, and tending to zero.
- BTCOG 5y agoIt is nowhere even remotely near as secure as Bitcoin. Scrypt mining is massively insecure verification when compared to the SHA256 verification provided by Bitcoin. It's as secure as Litecoin, and Litecoin is many magnitudes less secure of a chain than Bitcoin.
- 1996 5y agoThis is not a technological issue, but network effects: using SHA256 right now would make DOGE vulnerable to double spend attack. If it reaches the top 3, it can switch to SHA256. For now, an usual algorithm is the best bet.