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Here's one that I'm sure I'm going to regret saying publicly later. But, here goes: Dogecoin will outperform Bitcoin in terms of percentage market cap growth i

Here's one that I'm sure I'm going to regret saying publicly later. But, here goes: Dogecoin will outperform Bitcoin in terms of percentage market cap growth in 2014. Even if both are negative.

seabee 13y ago
You have to be really bearish on Bitcoin to think that a practically-identical joke currency will do better than something attracting venture capital. Nobody would trust a lolcat with their money much less a shibe. Of course, if I'm wrong then I will definitely say 'wow'; also, 'so fail' and 'much humble pie'.
- reitzensteinm 13y ago
  >Nobody would trust a lolcat with their money much less a shibe. Don't get me wrong; I'm not saying Dogecoin will pivot into a serious currency. I'm talking strictly relative growth here, and BTC is currently over 1000x bigger. I think it'll become a defacto tipping currency of the net, and there's plenty of room for the market cap to grow to support just that niche, if it goes relatively mainstream. As far as VC money goes, the infrastructure that's being built will likely not remain Bitcoin exclusive, so I see it more as a rising tide lifting all boats.
  - d0ugie 13y ago
    Speaking of dogecoin, I want to pick up some dogecoin without any bitcoin on hand to trade and without elevating my risk to fraud any more than necessary. I realize there are forums and presumably faqs, possibly "the same way you'd pick up bitcoin," but what is the HN prescription to go about doing this? Given that it's relatively nascent, low turnover, goofy and so forth, I'm apprehensive when hearing "very coinbase, wow" elsewhere. I also realize I should find something else to do, but... I love that friggin' dog. Tl;dr this article neglects to mention the viability of dogecoin on 2014 due to idiots like me. It appears I'm not the only one..
    - iSnow 13y ago
      Even with only a Core i5 CPU, you can use cpuminer to create some yourself. For small amounts, you could go to http://www.reddit.com/r/dogemarket http://www.reddit.com/r/dogemarket, the fraud risk is not very high there. In the US, there's https://www.altquick.co/ https://www.altquick.co/. Other than that, you need BTC/LTC first then trade on cryptsy.
      - yebyen 13y ago
        Is this an auto-updating string? I hope not! "Over 3 LTC sold and 1 customers served to date!" If you buy 1BTC from one of the established channels that you know, you can have a practically limitless supply of altcoins at cryptsy.com. That is assuming, you don't want more than 1BTC worth.
      - aestra 13y ago
        Anyone selling dogecoin for Paypal is stupid, those tranactions can easily be reversed. >you can use cpuminer to create some yourself. Depends on how many you want, the dogecoin difficulty has really gone through the roof lately, and you are much much better off with a GPU. The Kh/s rating on most GPUs is much better. https://litecoin.info/Mining_hardware_comparison https://litecoin.info/Mining_hardware_comparison www.coinwarz.com/calculators/dogecoin-mining-calculator/ The best Corei5 is going to get you about 1358 doge a day, with sounds like a lot, but it is a tiny number, 41 cents. Plus, the mining calculators are way way off. They always overestimate for me.
    - dpape39 13y ago
      Post a dogecoin adress and I'll donate Ð5,000.
      - Ryshibe 13y ago
        DEhTFJ8faDZoGNs3AyYoeaAaEcfZrMzxNj in b4 it's too late, perhaps? much kindness, very please, so hug, many thanks.
      - easye89 13y ago
        DBLHpRcLuKM5Co4UB7HYXwK9acKif7pnWY give it a shot. Thanks for giving in advance
paromi 13y ago
I think this is true. Dogecoin is still at the begin and it has much room to grow, bitcoin already had its share of growth.
DanBC 13y ago
What does "percentage market cap growth" mean? (Is there a glossary of financial for beginners that anyone can recommend?) If dogecoin takes off on Reddit and 4Chan as a way of showing appreciation I can see it having many users.
- reitzensteinm 13y ago
  Market cap is a term borrowed from the share market[1]. I don't think it's technically correct applied to BTC but it commonly is. Market cap growth as a percentage just means, if all BTCs in circulation are worth $10bn today, and $15bn tomorrow, then the market cap has grown by 50%. I didn't use the price of the coins themselves as BTC is being minted more slowly than DOGE. [1] http://en.wikipedia.org/wiki/Market_capitalization http://en.wikipedia.org/wiki/Market_capitalization
  - TomGullen 13y ago
    "Total dollar value" is the correct terminology for currencies
- paromi 13y ago
  you can check the market cap for bitcoin and dogecoin here : http://coinmarketcap.com/ http://coinmarketcap.com/ dogecoin is at 8 mil for now , bitcoin at 10 bil.
berkes 13y ago
History has shown that there are a lot of "greedy", but dumb people. A fantastic example comes to mind: In the Netherlands we have a saying "to sell fried air" (Gebakken lucht verkopen) to explain someone selling bullshit. Yet, in the "dotcom"-hype, there was a Dutch company selling shares for their startup, "f/ried air" and people got in line to buy these shares. http://www.museumofhoaxes.com/hoax/af_database/permalink/ipo_for_f_rite_air http://www.museumofhoaxes.com/hoax/af_database/permalink/ipo... There will be people buying into Dogecoin, simply because they are greedy and see profit, and choose to ignore the signs that it is a clear Pun.
- philipDS 13y ago
  Fried air or not. It's being used by a lot of people on Reddit now to give and receive tips. Every day new merchants start accepting Dogecoin. It's excellent to accept micropayments!
simondlr 13y ago
Dogecoin's transaction volume has been higher than Bitcoin for the past few days: http://bitinfocharts.com/comparison/transactions-btc-doge.html#.Us3ZT_FOprF.twitter http://bitinfocharts.com/comparison/transactions-btc-doge.ht.... Of course, Bitcoin doesn't take into account off-chain transactions, which at this stage is probably higher than Dogecoin's. The high tx volume is most likely due to all the tipping happening with it.
- ollysb 13y ago
  I was under the impression that all bitcoin transactions were on-chain. How do off-chain transactions work?
  - mithras 13y ago
    All transactions on/within exchanges are off chain.
  - aninhumer 13y ago
    A single account holds bitcoin for a group of people, and keeps track of individual balances internally. Externally, all the network sees are deposits and withdrawls.
- unasimple 13y ago
  Within reddit and now twitter there are easily now also thousands of off-chain transactions through the use of doge tipbots.
therobot24 13y ago
major difference between the two is that bitcoin is frustrating and difficult, while dogecoin is fun
xguest 13y ago
Around 200 addresses own 40% of all doge: http://bitinfocharts.com/top-100-richest-dogecoin-addresses.html http://bitinfocharts.com/top-100-richest-dogecoin-addresses.... Somebody is making a lot of money on this.
- dpiers 13y ago
  It's a nascent currency, it's natural for a smaller amount of people to get in early. I think the more interesting statistic is that, not accounting for addresses for nil/near 0 balance, more than half of all DOGE owners have more than 100 coins. That's more than enough to go around tipping DOGE online.
Stealthtrader 13y ago
DOGECOIN WILL REMAIN ON RADAR.....WATCH THEM BILLIONS DISSAPEAR;)

Here's one that I'm sure I'm going to regret saying publicly later. But, here goes: Dogecoin will outperform Bitcoin in terms of percentage market cap growth in 2014. Even if both are negative.

seabee 13y ago

You have to be really bearish on Bitcoin to think that a practically-identical joke currency will do better than something attracting venture capital. Nobody would trust a lolcat with their money much less a shibe. Of course, if I'm wrong then I will definitely say 'wow'; also, 'so fail' and 'much humble pie'.

reitzensteinm 13y ago
>Nobody would trust a lolcat with their money much less a shibe. Don't get me wrong; I'm not saying Dogecoin will pivot into a serious currency. I'm talking strictly relative growth here, and BTC is currently over 1000x bigger. I think it'll become a defacto tipping currency of the net, and there's plenty of room for the market cap to grow to support just that niche, if it goes relatively mainstream. As far as VC money goes, the infrastructure that's being built will likely not remain Bitcoin exclusive, so I see it more as a rising tide lifting all boats.
- d0ugie 13y ago
  Speaking of dogecoin, I want to pick up some dogecoin without any bitcoin on hand to trade and without elevating my risk to fraud any more than necessary. I realize there are forums and presumably faqs, possibly "the same way you'd pick up bitcoin," but what is the HN prescription to go about doing this? Given that it's relatively nascent, low turnover, goofy and so forth, I'm apprehensive when hearing "very coinbase, wow" elsewhere. I also realize I should find something else to do, but... I love that friggin' dog. Tl;dr this article neglects to mention the viability of dogecoin on 2014 due to idiots like me. It appears I'm not the only one..
  - iSnow 13y ago
    Even with only a Core i5 CPU, you can use cpuminer to create some yourself. For small amounts, you could go to http://www.reddit.com/r/dogemarket http://www.reddit.com/r/dogemarket, the fraud risk is not very high there. In the US, there's https://www.altquick.co/ https://www.altquick.co/. Other than that, you need BTC/LTC first then trade on cryptsy.
    - yebyen 13y ago
      Is this an auto-updating string? I hope not! "Over 3 LTC sold and 1 customers served to date!" If you buy 1BTC from one of the established channels that you know, you can have a practically limitless supply of altcoins at cryptsy.com. That is assuming, you don't want more than 1BTC worth.
    - aestra 13y ago
      Anyone selling dogecoin for Paypal is stupid, those tranactions can easily be reversed. >you can use cpuminer to create some yourself. Depends on how many you want, the dogecoin difficulty has really gone through the roof lately, and you are much much better off with a GPU. The Kh/s rating on most GPUs is much better. https://litecoin.info/Mining_hardware_comparison https://litecoin.info/Mining_hardware_comparison www.coinwarz.com/calculators/dogecoin-mining-calculator/ The best Corei5 is going to get you about 1358 doge a day, with sounds like a lot, but it is a tiny number, 41 cents. Plus, the mining calculators are way way off. They always overestimate for me.
  - dpape39 13y ago
    Post a dogecoin adress and I'll donate Ð5,000.
    - Ryshibe 13y ago
      DEhTFJ8faDZoGNs3AyYoeaAaEcfZrMzxNj in b4 it's too late, perhaps? much kindness, very please, so hug, many thanks.
    - easye89 13y ago
      DBLHpRcLuKM5Co4UB7HYXwK9acKif7pnWY give it a shot. Thanks for giving in advance

paromi 13y ago

I think this is true. Dogecoin is still at the begin and it has much room to grow, bitcoin already had its share of growth.

DanBC 13y ago

What does "percentage market cap growth" mean? (Is there a glossary of financial for beginners that anyone can recommend?) If dogecoin takes off on Reddit and 4Chan as a way of showing appreciation I can see it having many users.

reitzensteinm 13y ago
Market cap is a term borrowed from the share market[1]. I don't think it's technically correct applied to BTC but it commonly is. Market cap growth as a percentage just means, if all BTCs in circulation are worth $10bn today, and $15bn tomorrow, then the market cap has grown by 50%. I didn't use the price of the coins themselves as BTC is being minted more slowly than DOGE. [1] http://en.wikipedia.org/wiki/Market_capitalization http://en.wikipedia.org/wiki/Market_capitalization
- TomGullen 13y ago
  "Total dollar value" is the correct terminology for currencies
paromi 13y ago
you can check the market cap for bitcoin and dogecoin here : http://coinmarketcap.com/ http://coinmarketcap.com/ dogecoin is at 8 mil for now , bitcoin at 10 bil.

berkes 13y ago

History has shown that there are a lot of "greedy", but dumb people. A fantastic example comes to mind: In the Netherlands we have a saying "to sell fried air" (Gebakken lucht verkopen) to explain someone selling bullshit. Yet, in the "dotcom"-hype, there was a Dutch company selling shares for their startup, "f/ried air" and people got in line to buy these shares. http://www.museumofhoaxes.com/hoax/af_database/permalink/ipo_for_f_rite_air http://www.museumofhoaxes.com/hoax/af_database/permalink/ipo... There will be people buying into Dogecoin, simply because they are greedy and see profit, and choose to ignore the signs that it is a clear Pun.

philipDS 13y ago
Fried air or not. It's being used by a lot of people on Reddit now to give and receive tips. Every day new merchants start accepting Dogecoin. It's excellent to accept micropayments!

simondlr 13y ago

Dogecoin's transaction volume has been higher than Bitcoin for the past few days: http://bitinfocharts.com/comparison/transactions-btc-doge.html#.Us3ZT_FOprF.twitter http://bitinfocharts.com/comparison/transactions-btc-doge.ht.... Of course, Bitcoin doesn't take into account off-chain transactions, which at this stage is probably higher than Dogecoin's. The high tx volume is most likely due to all the tipping happening with it.

ollysb 13y ago
I was under the impression that all bitcoin transactions were on-chain. How do off-chain transactions work?
- mithras 13y ago
  All transactions on/within exchanges are off chain.
- aninhumer 13y ago
  A single account holds bitcoin for a group of people, and keeps track of individual balances internally. Externally, all the network sees are deposits and withdrawls.
unasimple 13y ago
Within reddit and now twitter there are easily now also thousands of off-chain transactions through the use of doge tipbots.

therobot24 13y ago

major difference between the two is that bitcoin is frustrating and difficult, while dogecoin is fun

xguest 13y ago

Around 200 addresses own 40% of all doge: http://bitinfocharts.com/top-100-richest-dogecoin-addresses.html http://bitinfocharts.com/top-100-richest-dogecoin-addresses.... Somebody is making a lot of money on this.

dpiers 13y ago
It's a nascent currency, it's natural for a smaller amount of people to get in early. I think the more interesting statistic is that, not accounting for addresses for nil/near 0 balance, more than half of all DOGE owners have more than 100 coins. That's more than enough to go around tipping DOGE online.

Stealthtrader 13y ago

DOGECOIN WILL REMAIN ON RADAR.....WATCH THEM BILLIONS DISSAPEAR;)