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The reason why I think it's hot: because the cost-of-stake to purchase it is orders of magnitude cheaper than ltc or btc. I worked out that if 1 million coins

The reason why I think it's hot: because the cost-of-stake to purchase it is orders of magnitude cheaper than ltc or btc. I worked out that if 1 million coins were allocated to all 3 chain for their total coin target, $1000 would buy about 0.06 bitcoins, 0.59 litecoins and 5.55 doge. Or 1 million divided into each chains' coins already in existence: 0.10 vs 1.97 vs 15.83 respectively. So with doge, you get more bang for your buck, a larger slice of the pie for each $ spent. And a huge sub-reddit to launch into, and a clean piece of cyberspace to work with. That's pretty compelling to me just on its own. And the coin I feel is sovereign to bitcoin. Also, when you see kids drawing pictures of shibes, and women stripping naked for them (there's a subreddit for it,) you know you're onto something unique. The larger population need and want cryptos to work. Doge answers that need better than anything else right now. That's very important and should not be overlooked.

crazydoggers 13y ago
Errr... you just said that $1000 buys you .10, 1.97 and 15.83 (those numbers don't even make sense anyhow), which means that .10 bitcoins equals 15.83 dogecoins in value. So what difference does that make... I can still spend 0.0001 bitcoins or 0.01583 dogecoins which would each equal a $1 in value. There's no difference in "cost-of-stake" at all. Why do people have such trouble understanding fractions?
- adrianwaj 13y ago
  3 cakes with a million slices each. $1000 buys you 0.1 of a bitcoin slice, 1.97 litecoin slices and 15.83 doge slices. (that's according to a cake composed of the current # of coins in existence for each cake, not the target amount) So each piece of your cake costs $1000, but each piece takes out a different proportion from the whole cake (ie a certain number of slices per piece.) The thing to think about is that buying coins, building an app and launching into a reddit, would likely be better than buying a mining rig to mine. Even a single app will inspire other developers to do the same and both will increase the value of one's coins (ie the size of your piece grows, as does the cake.) It's like IPO'ing your app on release, it's your coin value that goes up. And that's hot. The cake value is determined by the richness of apps that are its ingredients - and the number of people that are circling it wanting a slice. At the moment, doge has few apps but many people circling it wanting the cake to grow. If you build an app that's any good, you've got immediate traction, and if you hold doge, that value will grow too. (just my theory anyway)
  - crazydoggers 13y ago
    But each slice of pie is infinitely divisible, or nearly so, so it makes no difference. At the end of the day, the currency will hold some amount of economic value. For bitcoin at the moment, it's about $10 Billion USD. The total gross world product (GWP) is currently the equivalent of about $70 Trillion USD. So lets imagine a single crypto currency holding the entire GWP. For bitcoin, that's $70 Trillion / 21 Million bitcoins = $3,333,333 per bitcoin. For dogecoin that's $70 Trillion / 100,000,000,000 dogecoin = $700 per dogecoin. Both Bitcoin and Dogecoin are divisible to at least 8 decimal places (and the algorithms can change to permit greater divisibility), so your unit of currency is basically arbitrary. You can still spend $1 worth of a $3,333,333 bitcoin just as you can with dogecoin. Dogecoin is just shifiting the decimal places around. It doesn't give you any different stake versus Bitcoin.
    - adrianwaj 13y ago
      Ahh yes, I see your point, it comes down to what cake you think will grow faster in terms of what you will buy into. But working out what you will build into, there are different things to think about, such as potential users and their desires, and what exists currently to meet those desires. Steve Jobs was about building things people didn't know they even wanted, and that'd be something to think about with a doge app. Even messaging.. all these tips going through, they are all potential relationships and followups. How can you track who you've sent to? How easy is it for reddit users to interact with each other outside of reddit? Can a social network be built around tipping? Maybe a user might want to bookmark someone for a tip, rather than doing it instantly, or do it off public record. So basically attaching a username to a set of addresses, which can be generated on demand. Collecting feedback and ratings between users. It should be semi-anonymous.
      - crazydoggers 13y ago
        > Ahh yes, I see your point, it comes down to what cake you think will grow faster in terms of what you will buy into. Yup, I agree with you there. The problem is that there's nothing inherently different about Dogecoin that ensures a faster growth rate than Bitcoin. Bitcoin also has a subreddit, and I would argue a more mature community, even though it may not be the new hotness. What is different about Dogecoin, it's faster block confirmation, it's faster difficulty retargeting, and it's larger reward payout, actually make it inherently less secure than Bitcoin (Litecoin shares these traits, to a lesser degree). The reason it's seeing faster growth compared to Bitcoin at the moment is that mining is still somewhat reasonable with regular hardware, but this will change fairly soon and slow it's growth rate as miners jump on the next currency that offers faster payouts. So why not build your social network for tipping around Bitcoin? Personally I'd prefer a Bitcoin tip of 0.002 rather than 1000 Dogecoin.

crazydoggers 13y ago

Errr... you just said that $1000 buys you .10, 1.97 and 15.83 (those numbers don't even make sense anyhow), which means that .10 bitcoins equals 15.83 dogecoins in value. So what difference does that make... I can still spend 0.0001 bitcoins or 0.01583 dogecoins which would each equal a $1 in value. There's no difference in "cost-of-stake" at all. Why do people have such trouble understanding fractions?

adrianwaj 13y ago
3 cakes with a million slices each. $1000 buys you 0.1 of a bitcoin slice, 1.97 litecoin slices and 15.83 doge slices. (that's according to a cake composed of the current # of coins in existence for each cake, not the target amount) So each piece of your cake costs $1000, but each piece takes out a different proportion from the whole cake (ie a certain number of slices per piece.) The thing to think about is that buying coins, building an app and launching into a reddit, would likely be better than buying a mining rig to mine. Even a single app will inspire other developers to do the same and both will increase the value of one's coins (ie the size of your piece grows, as does the cake.) It's like IPO'ing your app on release, it's your coin value that goes up. And that's hot. The cake value is determined by the richness of apps that are its ingredients - and the number of people that are circling it wanting a slice. At the moment, doge has few apps but many people circling it wanting the cake to grow. If you build an app that's any good, you've got immediate traction, and if you hold doge, that value will grow too. (just my theory anyway)
- crazydoggers 13y ago
  But each slice of pie is infinitely divisible, or nearly so, so it makes no difference. At the end of the day, the currency will hold some amount of economic value. For bitcoin at the moment, it's about $10 Billion USD. The total gross world product (GWP) is currently the equivalent of about $70 Trillion USD. So lets imagine a single crypto currency holding the entire GWP. For bitcoin, that's $70 Trillion / 21 Million bitcoins = $3,333,333 per bitcoin. For dogecoin that's $70 Trillion / 100,000,000,000 dogecoin = $700 per dogecoin. Both Bitcoin and Dogecoin are divisible to at least 8 decimal places (and the algorithms can change to permit greater divisibility), so your unit of currency is basically arbitrary. You can still spend $1 worth of a $3,333,333 bitcoin just as you can with dogecoin. Dogecoin is just shifiting the decimal places around. It doesn't give you any different stake versus Bitcoin.
  - adrianwaj 13y ago
    Ahh yes, I see your point, it comes down to what cake you think will grow faster in terms of what you will buy into. But working out what you will build into, there are different things to think about, such as potential users and their desires, and what exists currently to meet those desires. Steve Jobs was about building things people didn't know they even wanted, and that'd be something to think about with a doge app. Even messaging.. all these tips going through, they are all potential relationships and followups. How can you track who you've sent to? How easy is it for reddit users to interact with each other outside of reddit? Can a social network be built around tipping? Maybe a user might want to bookmark someone for a tip, rather than doing it instantly, or do it off public record. So basically attaching a username to a set of addresses, which can be generated on demand. Collecting feedback and ratings between users. It should be semi-anonymous.
    - crazydoggers 13y ago
      > Ahh yes, I see your point, it comes down to what cake you think will grow faster in terms of what you will buy into. Yup, I agree with you there. The problem is that there's nothing inherently different about Dogecoin that ensures a faster growth rate than Bitcoin. Bitcoin also has a subreddit, and I would argue a more mature community, even though it may not be the new hotness. What is different about Dogecoin, it's faster block confirmation, it's faster difficulty retargeting, and it's larger reward payout, actually make it inherently less secure than Bitcoin (Litecoin shares these traits, to a lesser degree). The reason it's seeing faster growth compared to Bitcoin at the moment is that mining is still somewhat reasonable with regular hardware, but this will change fairly soon and slow it's growth rate as miners jump on the next currency that offers faster payouts. So why not build your social network for tipping around Bitcoin? Personally I'd prefer a Bitcoin tip of 0.002 rather than 1000 Dogecoin.