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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

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.
    - adrianwaj 13y ago
      A few good apps would cement the doge position. Its reddit growth is massive. I have ideas for a social network in fact, with screenshots. But I shelved them, but I have thought it through. Soundcloud tipping is something I personally would like to see (I think it has massive potential,) some way to see what artists have attracted the most tips, an easy way for artists to leave their tipping address which is not a blockchain address, or a link from each track that uses the referral to work out what track is being tipped (which the tipper confirms as correct) and generating an address on-the-fly. [same with youtube, that is also a huge area of tipping. Who wouldn't leave a single url in all their tracks and videos if they receive tips from it, especially if the giver is recorded and the initiating media identified?] Point-of-sale is also underdeveloped.

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.
  - adrianwaj 13y ago
    A few good apps would cement the doge position. Its reddit growth is massive. I have ideas for a social network in fact, with screenshots. But I shelved them, but I have thought it through. Soundcloud tipping is something I personally would like to see (I think it has massive potential,) some way to see what artists have attracted the most tips, an easy way for artists to leave their tipping address which is not a blockchain address, or a link from each track that uses the referral to work out what track is being tipped (which the tipper confirms as correct) and generating an address on-the-fly. [same with youtube, that is also a huge area of tipping. Who wouldn't leave a single url in all their tracks and videos if they receive tips from it, especially if the giver is recorded and the initiating media identified?] Point-of-sale is also underdeveloped.