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Dogecoin

The most amazing place on reddit! A subreddit for sharing, discussing, hoarding and wow'ing about Dogecoins. The new innovative crypto-currency.
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Copy of /r/dogecoin

The most amazing place on reddit!
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If you hodl or trade, you`re the biggest problem with the world of cryptocurrencies.

There`s 3 components to a market economy: Spending, Savings & Investments. We only have 2 and those are way off balance.
Spending: Payments. Drives Inclusion & Adoption. Represents the primary bridge to real world assets.
Saving: Store of Value, Essential driver for stability. The ideea that your holdings are safe over time and don`t depreciate.
Investments: Trading, drives value of the economy, corrects inflation.
State of the nation:
IF there`s any chance at adoption, don`t just HODL. Don`t just DayTrade. Spend what you have. Money needs to move.
The moment you start spending a portion of cryptocurrencies, that money moves. The entire supply chain benefits. Miners Mine, Exchangers Exchange, Businesses get paid, Taxes get taxed. The underlying value of your holdings grows as you tell more people how you paid your AliBaba supplier in Bitcoin and didn`t have any trouble with your EU based bank making a fuss over "why you`re sending money to Asia".
If the only thing you do with Crypto is to buy it, hold it or trade it, it has no impact on real life. It`s not inviting more people to use it. Demand doesn`t grow. the value chain remains closed and non-inclusive. And it`s against the basic principles of Blockchain. You, the person who only has 10 USD in Dogecoin or the Hodler who has 8 bitcoins since Satoshi was in diapers, you`re responsible for the value of your assets and growth of your community. If you don`t SPEND it, people around you have NO reason to adopt. And if they do adopt, they do it for the wrong reasons and simply add to the volatility.
Introduction:
I`ve been in this space since 2009, reading all I could get my hands on. Coming from a poorly banked background and still having frustrations due to the inability of making online purchases at the time, just coming out of a recession, Bitcoin`s vision struck a nerve with me. I`ve been an avid believer in blockchain ever since and at no point did I buy crypto to store value, hedge my bets, invest, digital gold or any of this. I went in because it was, and still is: the easiest way to send money across the world. Ethereum`s smart contracts bring this simple function to a new level, introducing conditions to be met for the transfer itself. Simple, open, transparent, inclusive. Period.
What we`ve become, as a community:
As a whole, this community went from a group of passionate people who wanted an alternative to banks, government and politics, people who wanted to deal directly with other people, to something weird I can`t describe as a whole, but more as personas. Here`s what I`m seeing:
  1. The "I wanna buy Pizza with Bitcoin" crowd. I`m one of them. We just wanted a simple alternative, we were okay with volatility because we always knew the more people use it, more stable it gets as an alternative currency. Conspiracy theorists, tech geeks, scientists, curious people fascinated by the endless possibilities of a global, open banking system, built by the people, for the people. Joined from the first 3-4 years of Bitcoin, many still join it.
  2. The Hodlers: Also coined as the true "Believers". They`re responsible for the initial traction, and would rather liquidate their house than to "sell off" their Bitcoins. They see Bitcoin and other currencies as a "store of value" and see not much difference between buying/storing Gold and Crypto. Joined after the first group and peacefully co-existed with everybody so far. Most dedicated miners came from this group/generation of adopters.
  3. The Traders: People coming from the finance world. They either did Hedgefunds, Forex, VC. Smart opportunists that saw the first 2 groups, saw the potential value of the system as something to be gained from (nothing wrong with this) and heavily capitalize on it. These were the first guys to look at crypto as financial instruments and started fighting the compliance game. This is also where market manipulation started.
  4. The "Tokenize the world" generation. Driven by technology on one side, by the ICO madness on the other side, this opportunistic group wanted to create a token (and respective ICOs) for everything they could think of. Huge similarities between how everything needed a website in the 2000`s, everything needed an app in 2010, everything needed a coin/token started around 2016. Dogecoin is the perfect example of a joke that got way out of proportion, while the original ideea was to make fun of this particular group. Oh well, this group still garners a lot of traction/interest. This group is why we have 3000 shitcoins and who knows how many that never saw the light of day.
  5. The Consultants, Gurus, Ninjas. The "know it all`s". They`re all about the TREND, not about the substance. In the 90`s we had the "internet consultants" who were selling strategies for people to get online. Later the same people were selling strategies to get website traffic. Later, it was about the apps or about the cloud. Right now, it`s about blockchain, token economics, go to market, liquidity, or investing. Some are super smart, most are useless. The only thing that really bothers me is that consultants take no ownership in the success or failure of what they`re selling. As long as you cover their fees, they don`t care if their advice works or not and usually blame you for failing. These are the "market makers" of today, the youtube/facebook/twitteinstagram investment gurus who look at charts for 4 hours and make predictions without really having any skin in the game. Here`s what I never got my head around, if you know how to make a market for a coin, or really know how to invest in crypto.... WHY would you charge me 20k when you can make millions for yourself in less time than that? I guess it holds true: those that can, DO, those that can`t, Teach.
This brings us to the state of the market today.
Proposed solution:
Don`t wait for your government to regulate, don`t wait for banks or institutional investors to kick in, don`t wait for the media frenzy. Just do your part: spend, save and invest your crypto just as you would your USD/Euro/Yen/etc. If you`re a freelancer, accept crypto payments. if you run a business, accept crypto payments. If you have crypto, make crypto payments. This is the main reason we have crypto today and it`s exactly what we don`t use it for. Go back to basics and let`s see how influenced by "market volatility" or "market manipulation" or "media bias" the price will get.
Disclosure: Yes, trying to solve the adoption issue has led me to build a platform for e-commerce that also solves crypto-to-fiat payments for more than 2000 tokens. We walk the walk, not talk the talk.
I`d love to hear if you guys agree or disagree, and most importantly, Why?
C:\>
P.S. I love you
submitted by chrisorasanusdk to Bitcoin [link] [comments]

If you just hodl or trade, you`re the biggest problem with the world of cryptocurrencies.

TL;DR: There`s 3 components to a market economy: Spending, Savings & Investments. We only have 2 and those are way off balance.
Spending: Payments. Drives Inclusion & Adoption. Represents the primary bridge to real world assets.
Saving: Store of Value, Essential driver for stability. The ideea that your holdings are safe over time and don`t depreciate.
Investments: Trading, drives value of the economy, corrects inflation.
State of the nation:
IF there`s any chance at adoption, don`t just HODL. Don`t just DayTrade. Spend what you have. Money needs to move.
The moment you start spending a portion of cryptocurrencies, that money moves. The entire supply chain benefits. Miners Mine, Exchangers Exchange, Businesses get paid, Taxes get taxed. The underlying value of your holdings grows as you tell more people how you paid your AliBaba supplier in Bitcoin and didn`t have any trouble with your EU based bank making a fuss over "why you`re sending money to Asia".
If the only thing you do with Crypto is to buy it, hold it or trade it, it has no impact on real life. It`s not inviting more people to use it. Demand doesn`t grow. the value chain remains closed and non-inclusive. And it`s against the basic principles of Blockchain. You, the person who only has 10 USD in Dogecoin or the Hodler who has 8 bitcoins since Satoshi was in diapers, you`re responsible for the value of your assets and growth of your community. If you don`t SPEND it, people around you have NO reason to adopt. And if they do adopt, they do it for the wrong reasons and simply add to the volatility.
Introduction:
I`ve been in this space since 2009, reading all I could get my hands on. Coming from a poorly banked background and still having frustrations due to the inability of making online purchases at the time, just coming out of a recession, Bitcoin`s vision struck a nerve with me. I`ve been an avid believer in blockchain ever since and at no point did I buy crypto to store value, hedge my bets, invest, digital gold or any of this. I went in because it was, and still is: the easiest way to send money across the world. Ethereum`s smart contracts bring this simple function to a new level, introducing conditions to be met for the transfer itself. Simple, open, transparent, inclusive. Period.
What we`ve become, as a community:
As a whole, this community went from a group of passionate people who wanted an alternative to banks, government and politics, people who wanted to deal directly with other people, to something weird I can`t describe as a whole, but more as personas. Here`s what I`m seeing:
  1. The "I wanna buy Pizza with Bitcoin" crowd. I`m one of them. We just wanted a simple alternative, we were okay with volatility because we always knew the more people use it, more stable it gets as an alternative currency. Conspiracy theorists, tech geeks, scientists, curious people fascinated by the endless possibilities of a global, open banking system, built by the people, for the people. Joined from the first 3-4 years of Bitcoin, many still join it.
  2. The Hodlers: Also coined as the true "Believers". They`re responsible for the initial traction, and would rather liquidate their house than to "sell off" their Bitcoins. They see Bitcoin and other currencies as a "store of value" and see not much difference between buying/storing Gold and Crypto. Joined after the first group and peacefully co-existed with everybody so far. Most dedicated miners came from this group/generation of adopters.
  3. The Traders: People coming from the finance world. They either did Hedgefunds, Forex, VC. Smart opportunists that saw the first 2 groups, saw the potential value of the system as something to be gained from (nothing wrong with this) and heavily capitalize on it. These were the first guys to look at crypto as financial instruments and started fighting the compliance game. This is also where market manipulation started.
  4. The "Tokenize the world" generation. Driven by technology on one side, by the ICO madness on the other side, this opportunistic group wanted to create a token (and respective ICOs) for everything they could think of. Huge similarities between how everything needed a website in the 2000`s, everything needed an app in 2010, everything needed a coin/token started around 2016. Dogecoin is the perfect example of a joke that got way out of proportion, while the original ideea was to make fun of this particular group. Oh well, this group still garners a lot of traction/interest. This group is why we have 3000 secondary coins and who knows how many that never saw the light of day.
  5. The Consultants, Gurus, Ninjas. The "know it all`s". They`re all about the TREND, not about the substance. In the 90`s we had the "internet consultants" who were selling strategies for people to get online. Later the same people were selling strategies to get website traffic. Later, it was about the apps or about the cloud. Right now, it`s about blockchain, token economics, go to market, liquidity, or investing. Some are super smart, most are useless. The only thing that really bothers me is that consultants take no ownership in the success or failure of what they`re selling. As long as you cover their fees, they don`t care if their advice works or not and usually blame you for failing. These are the "market makers" of today, the youtube/facebook/twitteinstagram investment gurus who look at charts for 4 hours and make predictions without really having any skin in the game. Here`s what I never got my head around, if you know how to make a market for a coin, or really know how to invest in crypto.... WHY would you charge me 20k when you can make millions for yourself in less time than that? I guess it holds true: those that can, DO, those that can`t, Teach.
This brings us to the state of the market today.
Proposed solution:
Don`t wait for your government to regulate, don`t wait for banks or institutional investors to kick in, don`t wait for the media frenzy. Just do your part: spend, save and invest your crypto just as you would your USD/Euro/Yen/etc. If you`re a freelancer, accept crypto payments. if you run a business, accept crypto payments. If you have crypto, make crypto payments. This is the main reason we have crypto today and it`s exactly what we don`t use it for. Go back to basics and let`s see how influenced by "market volatility" or "market manipulation" or "media bias" the price will get.
Disclosure: Yes, trying to solve the adoption issue has led me to build a platform for e-commerce that also solves crypto-to-fiat payments for more than 2000 tokens. We walk the walk, not talk the talk.
I`d love to hear if you guys agree or disagree, and most importantly, Why?
C:\>
P.S. I love you
submitted by chrisorasanusdk to ethtrader [link] [comments]

Dogecoin has real potential. Correct me if anything I have said is wrong, please.

Dogecoin has real potential. Correct me if anything I have said is wrong, please.

![img](p0m3cwfn1x831 " There are many misconceptions about Doge that I want to clear up. Although it started as a joke using the same blockchain technology as bitcoin, just with high supply and infinite potential supply, it was given a fixed inflation rate of 5 billion coins annually. Over time the actual percentage gets smaller as the total gets bigger. This means that supply flow can be overwhelmed with high enough demand relatively easily. With the supply in circulation being around 120 Billion currently, and market cap being around 400 Million, if we saw an increase to just 1-2 billion Doge would be worth 1-2 pennies each. A 120 billion market cap would make Doge 1$. If you look at the historical price movements of Dogecoin, you can see that from its lowest point to highest point is almost a 23,000% increase. The coin has never been hacked, and is going through massive accumulation just like bitcoin. In my opinion, Dogecoin is a sleeper of value, especially with the fact that the incentive to mine dogecoin blocks will never go away; unlike bitcoin. (The potential price movements in the chart are highly speculative. Note the similarities in pattern, as I have color coded ups and downs. The next ATH could take us in to the .1-.4 range, if the percentages and time ranges stay the same. I suspect it won't be exact, but it could be similar indeed.) ")
submitted by JcFiscus to dogecoin [link] [comments]

Cryptocurrencies and the circle of competence

A quick note to investors that believe the intrinsic value of bitcoin is 0 because they can't do a DCF on it: this isn't the place to argue with me about it. I suggest you read a bit more about what it actually is (hint: not a currency). I've defended its value in plenty of other posts on this sub. It's a $40+ billion market, so at least a few people agree with me. I welcome you to short the crypto of your choice if you think it's worth nothing. This is a post for folks that believe that cryptocurrencies have at least some discernible value and are considering investing in them.
If we have a strength, it is in recognizing when we are operating well within our circle of competence and when we are approaching the perimeter. – Warren Buffett
Given the tripling of the cryptocurrency market cap in the last few months and the 3- to 10-fold increases in virtually every major altcoin, cryptocurrencies like Ethereum and of course Bitcoin have been getting a stunning amount of attention in the press and on this subreddit recently.
If you follow the cryptocurrency world closely, you know that there have been a huge amount of dubious ICOs (initial coin offerings) on the market recently. It's an explosive time in crypto.
It's also a frustrating time for many long term bitcoiners and crypto fans, because we're faced with a barrage of questions from outsiders who see the returns and want to buy in to the "next big thing" and make a quick buck. This is a warning to those people.
Everyone is a genius is a rising market. It's hard to go wrong these days in crypto. Even coins of dubious merit like Ripple, Dogecoin, Stellar, NEM were pumped 5 times without any fundamental change. Speculators/investors have thrown money at crypto indiscriminately and efficient markets have 100% broken down. The altcoin pump right now is roughly comparable to the Dot Com crisis of the early 2000s.
  1. New tech promises to change the world
  2. Investors jump in on hype and promises
  3. A surge of IPOs (ICOs) occurs to capitalize on this
  4. "Greater fool" traders pile in, thinking they can make money even if the underlying is unsound
  5. Analysts claim "this time is different" while seasoned old hands refuse to participate
  6. Tech is proven not to be as developed as everyone thinks, market tanks
  7. Select few decent companies survive, all the trash is destroyed
  8. Tech eventually fulfills expectations, 10 years later, but none of the investors from the early days make money on it
However, canny (and skeptical) investors can still make money on crypto, as cryptocurrencies are inevitable, and will continue to expand and proliferate, even when the altcoin crash comes.
Something to realize first of all is that the crypto market is heterogeneous. It has straightforward cryptocurrencies (bitcoin, litecoin, dash, monero), smart-contract cryptos (ethereum, ethereum classic) and a whole bunch of crypto tokens that follow dedicated platforms (golem, augur, steem). Not mentioned are ripple and stellar because they aren't really cryptocurrencies at all.
The investing theses for all of these categories is radically different. The measure of success for a currency or store of value is adoption, merchant use, low volatility, a large network, and real world acceptance as something worth owning. Bitcoin has this right now, which is why it's more than 50% of the ecosystem, and none of its competitors are even close. Monero, Zcash, and Dash are a special case in that they try and make transactions anonymous and privacy, allowing for use cases on the darknet markets, for instance.
The tech underlying bitcoin is essentially sound, although it is having a scalability crisis, which you should read about. It can't right now serve as a currency which will buy you a cup of coffee - the transaction fees are too high. However if you want to send $200,000 from Mexico to Indonesia or China to the Philippines, you can do it within 20 minutes, and with fees of a few dollars. And if you want to store your wealth in a vault that is totally secure, and cannot be debased by a central bank, bitcoin is a good bet. This is highly relevant to folks in India that just had cash abolished, to Venezuelans, to Argentines, to Cypriots, to Nigerians, anywhere local currencies are weak and volatile. The potential value of a competing cryptocurrency lies in whether it can improve materially on bitcoin, whether it means incorporating off-chain scaling (segwit with litecoin), making it more private and fungible (monero), automating governance (decred), and so on.
Then there are cryptoassets that incorporate smart contracts. These – ethereum and its derivatives – exploded when the SEC denied the Bitcoin ETF back in march and bitcoiners got worried and started diversifying. This is the market segment that is highly risky, even by crypto standards, in my opinion. Ethereum is a protocol that allows contracts to self-enforce. Programming power to run the contracts is paid for with ethereum. Two parties agree to a contract, and it then self-executes. It's secured by a decentralized computing network of ethereum miners, so the contracts cannot be shut down by a government or corporation. It's pretty clever. Last year, a $150+ million contract was drawn up with ethereum, which would act like a venture capital fund, picking good investments just based on the votes of the token holders. This was called a Decentralized Autonomous Organization, and it was hacked before it could do anything. Well, it was exploited based on the code and so the exploit was totally "fair" given that the contract was meant to be inevitable, once agreed to. However, the creators of Ethereum didn't like the idea of losing $50 million, so they decided to collectively agree to amend the rules of the protocol itself (violating "Code is Law"), and jump onto a new one, which they would also call Ethereum, although it was really Ethereum 2.0. Some people got upset by this, because they thought that immutability and not arbitrarily rolling back the code was more important than some investors losing money because of poorly written code. They created Ethereum Classic, which is the original Ethereum chain. This wasn't what the Ethereum 2.0 folks thought would happen, but it did happen, so there are two competing Ethereum chains now.
Eventually, lots of decentralized apps were funded, via tokensales. A development team would say: "we're going to use ethereum to create a decentralized cloud computing/AI/prediction/gambling/timestamping/social media network." And then investors would buy the tokens, expecting that eventually the dev team would deliver, and the tokens would be in demand, since they would be required to use the network. It's a bit like buying in-game-currency when the game is announced, anticipating that the game would be wildly popular and you'd be able to sell it on later at a profit or acquire it cheaply to buy in-game items later on. However, many of us think that the promises are a bit extravagant, and that investors in these ICOs are probably going to lose money. The incentives aren't well aligned. Founders can just not deliver and run off with the money, and there's no regulatory body to enforce that. And for Ethereum more broadly, many people are worried that the turing-completeness of the language will mean it will face serious threats and unforeseeable hacks, like with the DAO. Finally, Ethereum has increased from around $20 to $90 in a matter of months, which raises the question of whether a) the market realized its true value or b) it was pumped on speculation. There's a huge set of unknowns with a smart contract currency, and virtually none of the promised dapps are up and running right now, and the ones that are haven't really attracted large userbases or delivered. This is because the tech is in its infancy, and the developers are still learning how to use it properly. So we won't know if these sorts of decentralized networks are even possible to create on the timelines that investors are expecting. Therefore, ethereum investors buying it on the promise of the realization of this tech in the near future are almost guaranteed to be disappointed. Additionally, ethereum is making the switch to the largely untested Proof of Stake algorithm, which will change incentives that secure the network. This brings me to my key point:
Stay within your circle of competence. You can grow your circle – slowly. Cryptoassets are almost impossibly complex to grasp with just a cursory look. Investing in them requires weeks of reading and a very skeptical view.
The above was an introduction to cryptocurrencies, the different ones on offer, and why investing in ethereum is not the slam dunk everyone thinks it is. This portion of the post will tell you about the kind of due diligence you need to do if you want to invest, rather than speculate, in crypto.
The first thing to mention is that passive investing in crypto has historically been a terrible strategy. Just buying bitcoin almost always outperformed. This was due to the poor set of altcoins, and the size of bitcoin's almost insurmountable network effect. This sort of changed in March and April when bitcoin's dominance went from 80% to ~50%, and it remains to be seen if this will persist or not. But the point is, buying the index is usually an awful strategy in crypto, particularly because there are so many truly awful projects out there.
So what does it take to invest responsibly in cryptocurrencies? It requires at least a basic understanding of three disciplines: public-private key cryptography; programming, and how open-source projects function; and economics, particularly game theory and the quantity theory of money. This is why is is so difficult to apprehend easily: because very few people actually boast a sincere understanding of these three topics. I certainly don't.
You need to be able to determine whether the tech is actually going anywhere, and whether the task the developers have set themselves is possible or realistic. You need to know how open source networks are governed, and which models strike the best balance between efficiency of decision-making and fair consensus. You need to be able to measure the inflation schedule of the cryptocurrency, and see whether your coins are going to inflated away. You need to be able to make plausible guesses about the potential market for the crypto and estimate future values. Note that the payoff structure is not equity-like. It's more like early stage venture capital, or buying loss-making biotech companies. Here's my checklist of questions to answer, ordered by importance:
  • Does the project offer a significant improvement over its nearest competitor, or a reasonable chance of success in its stated aim? Is there a demand for this project? Does it have a concise and reasonable goal? (Narrower goal: higher likelihood of success).
  • Is the development team competent? Are they committed to the coin? What's their track record? Is is an active dev team? Do they have a roadmap for the future? Are they transparent about goals?
  • How is the development team funded? Is the currency corporate-backed? Is the funding transparent? Was the coin significantly premined? (Usually bad) Are developers paid via iterative community project crowdfunding? (Usually good).
  • What is the governance structure of the currency? Who holds ultimate control over decisionmaking? How are decisions made? Are they transparent? Are mining/developer incentives aligned?
  • Does the asset have acceptance and use today? Does it have a functioning use case? If it doesn't, does it have a decent chance of being accepted?
  • Has the asset's "market cap" tripled or quintupled in the last few months? Was this based on any fundamental changes (new software releases, etc) or just speculation?
  • What are the transaction volumes like? (Hint: divide market cap by monthly averaged daily on-chain tx volume to find a consistent ratio) What's the ratio of on-chain transaction versus exchange speculation? Has price gone up independent of transaction volumes?
  • How long has the asset been around? Think of the Lindy effect. Older is usually better.
  • What's the community like? Is there censorship? Does it have an active subreddit? Do the developers answer questions? Are they accessible? How big is the github community? (Hint: you can divide market cap by github commits to find a comparable ratio).
  • Are you psychologically able to hold this coin in a 90% downturn? Is this a high conviction thesis or are you betting on being able to sell it to a greater fool?
How long did it take you to learn about investing in equities? Reading balance sheets, running DCF and DRI models, figuring out how to value a stock based on comparables? Years? How many mistakes did you make before you figured out how to be responsible?
Cryptos are an asset class that is both radically different from anything that has existed before. They are also incredibly heterogeneous, as I argued above. It also leads to cultism – so bitcoiners generally take a dim view of ethereum, and vice versa. Monero fans generally don't like dash, and so on. You have to keep your mind open to understand new opportunities as they arise, and to stop yourself becoming too mentally invested in your project of choice. The vast majority of projects will fail within 5 years, so becoming overly certain of the success of one will probably devastate you. If you can stay balanced, stay honest about your crypto's chances of success and adoption, not get tunnel vision, and not take overly risky positions, you have a good chance of not losing everything. Remember the payoff structure. Heavily rightward skewed. A ton of cryptos earn no return and a select few earn an absurd (1,000-10,000x) return.
None of this is necessary if you just want to invest randomly in one of the top ten cryptos. That's the strategy of 95% of investors today. Pick a coin and go. If it's not bitcoin, I can pretty much guarantee you'll lose money. The newer, the worse.
I've not made an effort to convince you that cryptos have intrinsic value. If you've made it this far, you probably think they're worth something at least. However, they're probably not worth as much as the market is pricing them at right now. Especially not those in the ethereum family. I'm not going to tell you what to invest in, because that would defeat the purpose of this post. I'm telling you to do your due diligence before blindly buying a crypto. And that due diligence on ethereum is as complex and difficult as Tesla or Amazon DD. And that your skills in equity valuation are pretty much useless in this asset class. My circle of competence doesn't extend to options or lean pork futures, so I don't touch those. I suggest that until you really feel comfortable in crypto, you don't buy randomly.
Summative thoughts:
  1. Investing in crypto is hard
  2. 90% of people that invest at market peaks will lose money
  3. You have to extremely skeptical and invest in high-conviction positions
  4. Cryptos are exhibiting bubbly behavior right now, it's a pretty bad time to pick one out
  5. Cryptos are nothing like equities but they do have real value
  6. Cryptos are the future, but almost none of these coins will survive 10 years
  7. The older the better
  8. Governance is key
  9. These are speculative positions, only invest what you can tolerate losing
  10. You can make money investing in cryptos
  11. Passively investing in cryptos doesn't work
  12. It's a winner takes most market, there won't be 1 crypto that wins. There will be different cryptos for different use cases.
edit: deleted chart with probabilities of success because of subjectivity and oversimplification.
edit2: I've been overwhelmed with PMs so bear with me. also, please forgive any spelling errors on this post. I wrote it in one frenzied sitting.
edit3: I knew I would get a fair amount of resistance from ethereum investors (even though I attempted to keep my post as balanced as possible) but I was unprepared from the breathtaking volume of spam and diversity of attacks. One particular user has made 30 comments in this thread. I don't have a stake in ETC, period. The post is 3000 words long and most of it is about how to properly do your due diligence in a crypto. if ethereum fares poorly by standard due diligence metrics, then perhaps your issue is deeper than one post on /investing.
final edit: there have been some broken-hearted ethereum fans very busy organizing brigades against this post, and attacking me personally, and so on. It's all very incovenient. I can tell that I struck a nerve. This post isn't really about ethereum - it's about how to do research in crypto, and why you can't expect to profit handsomely without that due diligence. I mentioned ethereum because there are 3 or 4 breathless posts on here a day about its stunning gains and whether it's worth investing in. My answer: read about it first, from a diverse set of sources. A final note: I do not own any ethereum classic, I have never owned ethereum classic. I brought it up because it is part of the ethereum story, and an example of what happens when you have a contested hard fork. I do hope that ethereum succeeds, I am just cautioning against over exuberance.
submitted by isrly_eder to investing [link] [comments]

This is Why Dogecoin is Better than 'Altcoins-Degenerators'

This is Why Dogecoin is Better than 'Altcoins-Degenerators'
While large majority of the altcoins are being on a straight-down path, a coin that was made as a joke and seemingly has had no recent major development is proving store of value (SoV) properties.
Popular crypto researcher and analyst Willy Woo posted both on Twitter and website his opinion on the type of altcoins of interest to investors. Regardless how nuanced altcoins are, manifesting as protocol coins, utility tokens, security tokens, and non-fungible tokens, the only two types that are of relevance to an investor are: Oscillators and Degenerators.
To show both types, Woo provided a chart of the market.
https://preview.redd.it/xr1pb1w88nx31.png?width=900&format=png&auto=webp&s=513e3c9af7ddf8ffa414758221e5789cab84eb59
However, the great majority of all altcoins are Degenerators, says Woo. “Their price chart has a measurable half-life, like radioactive decay. Plotted on a log chart, it's a straight line down,” he explains, providing Namecoin (NMC) as an example.
On the other hand, there are only a few Oscillators, and one of the most surprising examples is Dogecoin (DOGE), initially made as a joke and now ranked 30th by its market capitalization (USD 326 million). How is a coin an Oscillator, I hear you ask. Woo says that Oscillators are proving SoV properties. “To qualify,” he adds, the coins “need to keep up with Bitcoin (BTC)/USD gains.” In order to find oscillators, plot a coin’s BTC value. It must oscillate around a horizontal line, for at least one full bull-bear cycle, which is around four years, but more than one cycle is better, the analyst explains.
One doesn’t need innovation and cutting edge technology to build value in their coin, says Woo. “These are monetary instruments, they build value with economic network effects.” He finds Dogecoin as an example of an altcoin with no particularly significant technology or smart contracts, nor has it solved some of the major issues in the crypto and blockchain world. If we look at its GitHub, we see the last activity recorded 5 months ago.
However, the researcher believes that Dogecoin achieved SoV due to the Lindy Effect. The Lindy Effect is one of the more interesting things you’ll come across in your daily life wherever you turn. It basically means that future life expectancy of a non-perishable thing is proportional to its current age – its mortality rate decreases with time. So, if a technology is six years old, like DOGE is, it’s expected to last six more. Next year it’ll be seven years old, and if the effect persists, its life expectancy will be that much longer. “An oscillator can always breakdown. Due to Lindy Effect, it becomes harder the longer it stays an oscillator,” Woo writes.
Furthermore, DOGE is listed on nearly all exchanges, it's supported by most wallets, and it has a liquid market, says Woo.
Another example Woo gave is DCBTC, which he finds to be at a critical stage as it’s about to complete its first full bull-bear cycle. “It needs to emerge cleanly holding its horizontal oscillation against BTC. Only then can we say it's achieving SoV properties.” On a question if all this means that all stablecoins are Degens, which would lead to a conclusion that all Fiat currencies are too, Woo replied with “Correct.”
submitted by CryptoHamstereu to u/CryptoHamstereu [link] [comments]

11-23 14:33 - 'How to save Bitcoin on transfers between cryptocurrency exchanges?' (self.Bitcoin) by /u/holderlab removed from /r/Bitcoin within 1580-1590min

'''
Cryptocurrencies have become quite commonplace for many people. Every day, tens of thousands of transfers are made between wallets and exchanges around the world. However, few of us think about how much money is spent on paying commissions for transfers. In fact, some transactions lose a significant amount. For several months, the user can safely lose the amount that would be enough to buy a new TV or washing machine.Therefore, it will not be out of place for everyone to know how to save money on such operations. There are exchanges that charge 0.001 - 0.002 BTC (9 - 18 US dollars) for the transfer. There are those who ask a little less. For example, Poloniex asks for only 0.0005 BTC (about $ 5). However, having made 10 or 20 transfers, the amount ceases to seem so insignificant. Therefore, we offer a good option that will make transactions almost free.

How to save my BTC?

First, you need to choose some alternative currency for making transfers. It must meet the following criteria:
The best coins to circumvent high commissions are Dogecoin and Bytecoin. Both meet the above criteria, but Dogecoin transactions are confirmed much faster.

DOGECOIN

DOGE is a fork of Litecoin. In technical terms, there were practically no changes, but in terms of marketing, both cryptocurrencies are significantly different from each other. The following features of this coin can be distinguished:
  1. Block formation takes only 1 minute (LTC - 2.5 times longer, BTC - 10 times longer);
  2. Infinite emission;
For the transaction you need to pay only 2 coins, regardless of the amount of transfer (this is only about $ 0.0047 or 5.1 * 10 -7 BTC);This coin has all the attributes of popular cryptocurrencies (anonymity, decentralization, advanced security system).

How it works?

As an example, you can exchange BTC for DOGE on some exchange, send them to another exchange, and then transfer the coins to your Poloniex wallet, paying a commission (unlike direct transfer).
You can give an example of a real case with detailed numbers: user N on the Bittrex exchange changes 0.01023405 BTC to DOGE, after which he sends them to the Poloniex exchange and receives 0.01019278 BTC. The final commission for the transfer came out 0.00004127 BTC, which is 24 times more profitable than directly transferring BTC between exchanges. You also need to add a fee for transferring to a cold wallet (a little more than one dollar), but even with this in mind, the difference still remains noticeable.
And one moment. After exchanging cryptocurrency for DOGE and transferring them to a wallet or exchange, these coins need to be sold. There are a couple of options: sell them at the current purchase or sale price. Here everyone must choose their own. Sales price orders are usually sold in less than half a day.
In addition, it would simply be wrong not to mention another interesting fact about this wonderful coin. If you carefully look at the graph from Coinmarketcap of the DOGE price change, you can find one interesting detail. During the day, there may be a short-term sharp increase in the value of this asset. It is believed that due to the abnormally low commission, the coin is used on a large scale in arbitration operations, so by catching the right moment, you can also earn on DOGE.
[Doge chart (Coinmarketcap)]1

Bytecoin

A few words about Bytecoin. It was created in 2012 on the same algorithm as Monero. This provides the coin with a high level of anonymity and privacy. The cost of one asset is also low - $ 0,0004. Transactions are processed every 120 seconds. It’s simply not possible to track payments. Of course, Bytecoin is not as popular as DOGE, but you can take a closer look at it as an alternative.
Today we looked at the best way to save money when transferring crypto assets between exchanges or wallets. Experienced traders most likely have their own tricks that help save the maximum amount of money, but this option is now seen as the most optimal, universal and practical.
Currently, we are preparing to launch the [holderlab.io]2 service, which allows us to optimize the cryptocurrency portfolio. The service allows you to conduct a comprehensive assessment of the crypto portfolio using the correlation matrix and the effective border, as well as configure automatic portfolio rebalancing.
Thanks for attention
'''
How to save Bitcoin on transfers between cryptocurrency exchanges?
Go1dfish undelete link
unreddit undelete link
Author: holderlab
1: prev**w.redd.*t/sul458f**8*41.jp*?**dt*=1212&***;*ormat=p*p*&*mp;aut*=w***&*=9e*4*c5b*d425191c**a*0c77e35d32f993**895 2: www**olderl*b*io/
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Burstcoin (BURST): A Dark Horse That Could Become A Major Cryptocurrency, The King of Proof of Capacity

Burstcoin (BURST): A Dark Horse That Could Become A Major Cryptocurrency, The King of Proof of Capacity
https://preview.redd.it/nt1qbc9cq4221.png?width=572&format=png&auto=webp&s=d867a4c98e7ab7e9c37c7dc23cc7fb251a5ecec7
https://cryptoiq.co/burstcoin-burst-a-dark-horse-that-could-become-a-major-cryptocurrency-the-king-of-proof-of-capacity/
Currently the cryptocurrency space is flooded with copycat coins and initial coin offering (ICO) tokens, most of which are moving steadily down the ranks on CoinMarketCap as the bear market of 2018 continues. This bear market is weeding out cryptocurrencies that have little long term potential, and cryptocurrencies that have strong communities and unique technology are rising to the top. Burstcoin (BURST) is one such cryptocurrency that is rising to the top, like cream in a glass of fresh milk. This is because the Burstcoin community is filled with diehard Cypherpunks, and BURST is the king of Proof of Capacity.
Back in the middle of October 2018 BURST was at #248 on CoinMarketCap, which was before the ‘nuclear’ bear market took effect, where the support level was broken due to the Bitcoin Cash hard fork, Bakkt delaying the launch of physical Bitcoin futures, and the Securities and Exchange Commission (SEC) initiating its first civil enforcement penalties against ICOs. BURST has decreased in price like every other cryptocurrency, but is rising relative to other cryptocurrencies, and as of 3 December 2018 sits at #199 on CoinMarketCap with a market cap of USD 13.5 million.
This increase in the price of BURST relative to other cryptocurrencies is due to Burstcoin’s unique technology. Burstcoin is the king of Proof of Capacity, a mining algorithm that uses the hard drive, versus raw computational power like with Proof of Work, and is much more energy efficient than Proof of Work. Proof of Capacity works by writing cryptographic hashes to an allotted segment of a hard drive called a plot. This plot is then read during mining to find the correct cryptographic hash, and whoever finds the cryptographic hash the fastest receives the block reward. More hard drive space dedicated to the plot equals more cryptographic hashes available, making it easier to find an answer and earn the BURST block reward.
Currently 1TB generates 1-2 BURST per day, and even though this is only equivalent to about a penny, it is all profit since reading the plot file requires a negligible amount of energy, and BURST miners can use their computer for other activities without impediment. Compare this to Proof of Work, which slows down personal computers and costs more electricity than the cryptocurrency it mines. BURST is one of the only cryptocurrencies that can be profitably mined on personal computers.
Further, unlike with Proof of Work where specialized mining equipment is required like application specific integrated circuits (ASICs), anyone with a computer or even mobile phone can mine BURST, and if they decide to stop mining BURST they can simply delete their plot file and use the hard drive space for other things. This is unlike ASICs, which cannot be used for anything but mining, so if someone decides to stop mining they lose all the money invested into the ASIC.
The ease of mining and negligible energy usage has led to the formation of a strong BURST mining community, with over 200,000 TB securing the BURST network. This is equivalent to hundreds of thousands of personal computers. The expansive mining community gives BURST value, and some of these miners are blockchain developers, and they have been building a full suite of technology based on the Burstcoin blockchain.
CloudBurst immutably stores files directly on the Burstcoin blockchain, for a small 1-time fee. Real blockchain storage is a rarity in the cryptocurrency world. The file will be stored as long as the Burstcoin blockchain exists, which is the foreseeable future and beyond considering the expansive BURST mining community. Cloudburst would be useful if you lost your computer and all of your backups in a natural disaster like a hurricane, and is a more secure solution than cloud storage like Google. Also, the Burstcoin wallet can be used to easily issue cryptocurrencies that are based off of the Burstcoin blockchain, and there is a decentralized exchange built-in to the wallet to trade these crypto assets.
Cryptocurrency scalability is a problem even for major cryptocurrencies like Bitcoin and Ethereum, but Burstcoin has tackled and solved this problem with the launch of the Dymaxion. The scalability of the Dymaxion is so powerful that it can handle all the non-cash transactions in the world. This is done via the utilization of tangle-based lightning networks on top of the Burstcoin blockchain. Transactions done via the Dymaxion are instant, with no fees and practically no energy expenditure. The Dymaxion gives Burstcoin the room to grow as much as it needs to.
When people look for the cryptocurrencies that will survive long term, it can be confusing due to the 2,000+ cryptocurrencies listed on CoinMarketCap. However, it is clear that cryptocurrencies with truly unique and useful technology, as well as strong communities will always be around and gain value long term relative to all the ICOs and copycats. Bitcoin is the king of SHA-256, Litecoin is the king of Scrypt, Ethereum is the king of blockchain-based dApps, Dogecoin is the king of the shibes on Reddit, Dash is the King of X11, Monero is the king of privacy coins, IOTA is the king of Directed Acyclic Graphs (DAGs), and Burstcoin is the king of Proof of Capacity. These kings of cryptocurrency will definitely be the winners and survivors when the fallout from the ICO apocalypse is over.
This is for educational purposes only and is not investment advice. We are not paid by BURST to write this article.
submitted by turtlecane to burstcoin [link] [comments]

CRYPTOCURRENCY BITCOIN

CRYPTOCURRENCY BITCOIN
Bitcoin Table of contents expand: 1. What is Bitcoin? 2. Understanding Bitcoin 3. How Bitcoin Works 4. What's a Bitcoin Worth? 5. How Bitcoin Began 6. Who Invented Bitcoin? 7. Before Satoshi 8. Why Is Satoshi Anonymous? 9. The Suspects 10. Can Satoshi's Identity Be Proven? 11. Receiving Bitcoins As Payment 12. Working For Bitcoins 13. Bitcoin From Interest Payments 14. Bitcoins From Gambling 15. Investing in Bitcoins 16. Risks of Bitcoin Investing 17. Bitcoin Regulatory Risk 18. Security Risk of Bitcoins 19. Insurance Risk 20. Risk of Bitcoin Fraud 21. Market Risk 22. Bitcoin's Tax Risk What is Bitcoin?
Bitcoin is a digital currency created in January 2009. It follows the ideas set out in a white paper by the mysterious Satoshi Nakamoto, whose true identity is yet to be verified. Bitcoin offers the promise of lower transaction fees than traditional online payment mechanisms and is operated by a decentralized authority, unlike government-issued currencies.
There are no physical bitcoins, only balances kept on a public ledger in the cloud, that – along with all Bitcoin transactions – is verified by a massive amount of computing power. Bitcoins are not issued or backed by any banks or governments, nor are individual bitcoins valuable as a commodity. Despite it not being legal tender, Bitcoin charts high on popularity, and has triggered the launch of other virtual currencies collectively referred to as Altcoins.
Understanding Bitcoin Bitcoin is a type of cryptocurrency: Balances are kept using public and private "keys," which are long strings of numbers and letters linked through the mathematical encryption algorithm that was used to create them. The public key (comparable to a bank account number) serves as the address which is published to the world and to which others may send bitcoins. The private key (comparable to an ATM PIN) is meant to be a guarded secret and only used to authorize Bitcoin transmissions. Style notes: According to the official Bitcoin Foundation, the word "Bitcoin" is capitalized in the context of referring to the entity or concept, whereas "bitcoin" is written in the lower case when referring to a quantity of the currency (e.g. "I traded 20 bitcoin") or the units themselves. The plural form can be either "bitcoin" or "bitcoins."
How Bitcoin Works Bitcoin is one of the first digital currencies to use peer-to-peer technology to facilitate instant payments. The independent individuals and companies who own the governing computing power and participate in the Bitcoin network, also known as "miners," are motivated by rewards (the release of new bitcoin) and transaction fees paid in bitcoin. These miners can be thought of as the decentralized authority enforcing the credibility of the Bitcoin network. New bitcoin is being released to the miners at a fixed, but periodically declining rate, such that the total supply of bitcoins approaches 21 million. One bitcoin is divisible to eight decimal places (100 millionths of one bitcoin), and this smallest unit is referred to as a Satoshi. If necessary, and if the participating miners accept the change, Bitcoin could eventually be made divisible to even more decimal places. Bitcoin mining is the process through which bitcoins are released to come into circulation. Basically, it involves solving a computationally difficult puzzle to discover a new block, which is added to the blockchain and receiving a reward in the form of a few bitcoins. The block reward was 50 new bitcoins in 2009; it decreases every four years. As more and more bitcoins are created, the difficulty of the mining process – that is, the amount of computing power involved – increases. The mining difficulty began at 1.0 with Bitcoin's debut back in 2009; at the end of the year, it was only 1.18. As of February 2019, the mining difficulty is over 6.06 billion. Once, an ordinary desktop computer sufficed for the mining process; now, to combat the difficulty level, miners must use faster hardware like Application-Specific Integrated Circuits (ASIC), more advanced processing units like Graphic Processing Units (GPUs), etc.
What's a Bitcoin Worth? In 2017 alone, the price of Bitcoin rose from a little under $1,000 at the beginning of the year to close to $19,000, ending the year more than 1,400% higher. Bitcoin's price is also quite dependent on the size of its mining network since the larger the network is, the more difficult – and thus more costly – it is to produce new bitcoins. As a result, the price of bitcoin has to increase as its cost of production also rises. The Bitcoin mining network's aggregate power has more than tripled over the past twelve months.
How Bitcoin Began
Aug. 18, 2008: The domain name bitcoin.org is registered. Today, at least, this domain is "WhoisGuard Protected," meaning the identity of the person who registered it is not public information.
Oct. 31, 2008: Someone using the name Satoshi Nakamoto makes an announcement on The Cryptography Mailing list at metzdowd.com: "I've been working on a new electronic cash system that's fully peer-to-peer, with no trusted third party. The paper is available at http://www.bitcoin.org/bitcoin.pdf." This link leads to the now-famous white paper published on bitcoin.org entitled "Bitcoin: A Peer-to-Peer Electronic Cash System." This paper would become the Magna Carta for how Bitcoin operates today.
Jan. 3, 2009: The first Bitcoin block is mined, Block 0. This is also known as the "genesis block" and contains the text: "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks," perhaps as proof that the block was mined on or after that date, and perhaps also as relevant political commentary.
Jan. 8, 2009: The first version of the Bitcoin software is announced on The Cryptography Mailing list.
Jan. 9, 2009: Block 1 is mined, and Bitcoin mining commences in earnest.
Who Invented Bitcoin?
No one knows. Not conclusively, at any rate. Satoshi Nakamoto is the name associated with the person or group of people who released the original Bitcoin white paper in 2008 and worked on the original Bitcoin software that was released in 2009. The Bitcoin protocol requires users to enter a birthday upon signup, and we know that an individual named Satoshi Nakamoto registered and put down April 5 as a birth date. And that's about it.
Before Satoshi
Though it is tempting to believe the media's spin that Satoshi Nakamoto is a solitary, quixotic genius who created Bitcoin out of thin air, such innovations do not happen in a vacuum. All major scientific discoveries, no matter how original-seeming, were built on previously existing research. There are precursors to Bitcoin: Adam Back’s Hashcash, invented in 1997, and subsequently Wei Dai’s b-money, Nick Szabo’s bit gold and Hal Finney’s Reusable Proof of Work. The Bitcoin white paper itself cites Hashcash and b-money, as well as various other works spanning several research fields.
Why Is Satoshi Anonymous?
There are two primary motivations for keeping Bitcoin's inventor keeping his or her or their identity secret. One is privacy. As Bitcoin has gained in popularity – becoming something of a worldwide phenomenon – Satoshi Nakamoto would likely garner a lot of attention from the media and from governments.
The other reason is safety. Looking at 2009 alone, 32,489 blocks were mined; at the then-reward rate of 50 BTC per block, the total payout in 2009 was 1,624,500 BTC, which at today’s prices is over $900 million. One may conclude that only Satoshi and perhaps a few other people were mining through 2009 and that they possess a majority of that $900 million worth of BTC. Someone in possession of that much BTC could become a target of criminals, especially since bitcoins are less like stocks and more like cash, where the private keys needed to authorize spending could be printed out and literally kept under a mattress. While it's likely the inventor of Bitcoin would take precautions to make any extortion-induced transfers traceable, remaining anonymous is a good way for Satoshi to limit exposure.
The Suspects
Numerous people have been suggested as possible Satoshi Nakamoto by major media outlets. Oct. 10, 2011, The New Yorker published an article speculating that Nakamoto might be Irish cryptography student Michael Clear or economic sociologist Vili Lehdonvirta. A day later, Fast Company suggested that Nakamoto could be a group of three people – Neal King, Vladimir Oksman and Charles Bry – who together appear on a patent related to secure communications that were filed two months before bitcoin.org was registered. A Vice article published in May 2013 added more suspects to the list, including Gavin Andresen, the Bitcoin project’s lead developer; Jed McCaleb, co-founder of now-defunct Bitcoin exchange Mt. Gox; and famed Japanese mathematician Shinichi Mochizuki.
In December 2013, Techcrunch published an interview with researcher Skye Grey who claimed textual analysis of published writings shows a link between Satoshi and bit-gold creator Nick Szabo. And perhaps most famously, in March 2014, Newsweek ran a cover article claiming that Satoshi is actually an individual named Satoshi Nakamoto – a 64-year-old Japanese-American engineer living in California. The list of suspects is long, and all the individuals deny being Satoshi.
Can Satoshi's Identity Be Proven?
It would seem even early collaborators on the project don’t have verifiable proof of Satoshi’s identity. To reveal conclusively who Satoshi Nakamoto is, a definitive link would need to be made between his/her activity with Bitcoin and his/her identity. That could come in the form of linking the party behind the domain registration of bitcoin.org, email and forum accounts used by Satoshi Nakamoto, or ownership of some portion of the earliest mined bitcoins. Even though the bitcoins Satoshi likely possesses are traceable on the blockchain, it seems he/she has yet to cash them out in a way that reveals his/her identity. If Satoshi were to move his/her bitcoins to an exchange today, this might attract attention, but it seems unlikely that a well-funded and successful exchange would betray a customer's privacy.
Receiving Bitcoins As Payment
Bitcoins can be accepted as a means of payment for products sold or services provided. If you have a brick and mortar store, just display a sign saying “Bitcoin Accepted Here” and many of your customers may well take you up on it; the transactions can be handled with the requisite hardware terminal or wallet address through QR codes and touch screen apps. An online business can easily accept bitcoins by just adding this payment option to the others it offers, like credit cards, PayPal, etc. Online payments will require a Bitcoin merchant tool (an external processor like Coinbase or BitPay).
Working For Bitcoins
Those who are self-employed can get paid for a job in bitcoins. There are several websites/job boards which are dedicated to the digital currency:
Work For Bitcoin brings together work seekers and prospective employers through its websiteCoinality features jobs – freelance, part-time and full-time – that offer payment in bitcoins, as well as Dogecoin and LitecoinJobs4Bitcoins, part of reddit.comBitGigs
Bitcoin From Interest Payments
Another interesting way (literally) to earn bitcoins is by lending them out and being repaid in the currency. Lending can take three forms – direct lending to someone you know; through a website which facilitates peer-to-peer transactions, pairing borrowers and lenders; or depositing bitcoins in a virtual bank that offers a certain interest rate for Bitcoin accounts. Some such sites are Bitbond, BitLendingClub, and BTCjam. Obviously, you should do due diligence on any third-party site.
Bitcoins From Gambling
It’s possible to play at casinos that cater to Bitcoin aficionados, with options like online lotteries, jackpots, spread betting, and other games. Of course, the pros and cons and risks that apply to any sort of gambling and betting endeavors are in force here too.
Investing in Bitcoins
There are many Bitcoin supporters who believe that digital currency is the future. Those who endorse it are of the view that it facilitates a much faster, no-fee payment system for transactions across the globe. Although it is not itself any backed by any government or central bank, bitcoin can be exchanged for traditional currencies; in fact, its exchange rate against the dollar attracts potential investors and traders interested in currency plays. Indeed, one of the primary reasons for the growth of digital currencies like Bitcoin is that they can act as an alternative to national fiat money and traditional commodities like gold.
In March 2014, the IRS stated that all virtual currencies, including bitcoins, would be taxed as property rather than currency. Gains or losses from bitcoins held as capital will be realized as capital gains or losses, while bitcoins held as inventory will incur ordinary gains or losses.
Like any other asset, the principle of buying low and selling high applies to bitcoins. The most popular way of amassing the currency is through buying on a Bitcoin exchange, but there are many other ways to earn and own bitcoins. Here are a few options which Bitcoin enthusiasts can explore.
Risks of Bitcoin Investing
Though Bitcoin was not designed as a normal equity investment (no shares have been issued), some speculative investors were drawn to the digital money after it appreciated rapidly in May 2011 and again in November 2013. Thus, many people purchase bitcoin for its investment value rather than as a medium of exchange.
However, their lack of guaranteed value and digital nature means the purchase and use of bitcoins carries several inherent risks. Many investor alerts have been issued by the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), the Consumer Financial Protection Bureau (CFPB), and other agencies.
The concept of a virtual currency is still novel and, compared to traditional investments, Bitcoin doesn't have much of a long-term track record or history of credibility to back it. With their increasing use, bitcoins are becoming less experimental every day, of course; still, after eight years, they (like all digital currencies) remain in a development phase, still evolving. "It is pretty much the highest-risk, highest-return investment that you can possibly make,” says Barry Silbert, CEO of Digital Currency Group, which builds and invests in Bitcoin and blockchain companies.
Bitcoin Regulatory Risk
Investing money into Bitcoin in any of its many guises is not for the risk-averse. Bitcoins are a rival to government currency and may be used for black market transactions, money laundering, illegal activities or tax evasion. As a result, governments may seek to regulate, restrict or ban the use and sale of bitcoins, and some already have. Others are coming up with various rules. For example, in 2015, the New York State Department of Financial Services finalized regulations that would require companies dealing with the buy, sell, transfer or storage of bitcoins to record the identity of customers, have a compliance officer and maintain capital reserves. The transactions worth $10,000 or more will have to be recorded and reported.
Although more agencies will follow suit, issuing rules and guidelines, the lack of uniform regulations about bitcoins (and other virtual currency) raises questions over their longevity, liquidity, and universality.
Security Risk of Bitcoins
Bitcoin exchanges are entirely digital and, as with any virtual system, are at risk from hackers, malware and operational glitches. If a thief gains access to a Bitcoin owner's computer hard drive and steals his private encryption key, he could transfer the stolen Bitcoins to another account. (Users can prevent this only if bitcoins are stored on a computer which is not connected to the internet, or else by choosing to use a paper wallet – printing out the Bitcoin private keys and addresses, and not keeping them on a computer at all.) Hackers can also target Bitcoin exchanges, gaining access to thousands of accounts and digital wallets where bitcoins are stored. One especially notorious hacking incident took place in 2014, when Mt. Gox, a Bitcoin exchange in Japan, was forced to close down after millions of dollars worth of bitcoins were stolen.
This is particularly problematic once you remember that all Bitcoin transactions are permanent and irreversible. It's like dealing with cash: Any transaction carried out with bitcoins can only be reversed if the person who has received them refunds them. There is no third party or a payment processor, as in the case of a debit or credit card – hence, no source of protection or appeal if there is a problem.
Insurance Risk
Some investments are insured through the Securities Investor Protection Corporation. Normal bank accounts are insured through the Federal Deposit Insurance Corporation (FDIC) up to a certain amount depending on the jurisdiction. Bitcoin exchanges and Bitcoin accounts are not insured by any type of federal or government program.
Risk of Bitcoin Fraud
While Bitcoin uses private key encryption to verify owners and register transactions, fraudsters and scammers may attempt to sell false bitcoins. For instance, in July 2013, the SEC brought legal action against an operator of a Bitcoin-related Ponzi scheme.
Market Risk
Like with any investment, Bitcoin values can fluctuate. Indeed, the value of the currency has seen wild swings in price over its short existence. Subject to high volume buying and selling on exchanges, it has a high sensitivity to “news." According to the CFPB, the price of bitcoins fell by 61% in a single day in 2013, while the one-day price drop in 2014 has been as big as 80%.
If fewer people begin to accept Bitcoin as a currency, these digital units may lose value and could become worthless. There is already plenty of competition, and though Bitcoin has a huge lead over the other 100-odd digital currencies that have sprung up, thanks to its brand recognition and venture capital money, a technological break-through in the form of a better virtual coin is always a threat.
Bitcoin's Tax Risk
As bitcoin is ineligible to be included in any tax-advantaged retirement accounts, there are no good, legal options to shield investments from taxation.
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Related Terms
Satoshi
The satoshi is the smallest unit of the bitcoin cryptocurrency. It is named after Satoshi Nakamoto, the creator of the protocol used in block chains and the bitcoin cryptocurrency.
Chartalism Chartalism is a non-mainstream theory of money that emphasizes the impact of government policies and activities on the value of money.
Satoshi Nakamoto The name used by the unknown creator of the protocol used in the bitcoin cryptocurrency. Satoshi Nakamoto is closely-associated with blockchain technology.
Bitcoin Mining, Explained Breaking down everything you need to know about Bitcoin Mining, from Blockchain and Block Rewards to Proof-of-Work and Mining Pools.
Understanding Bitcoin Unlimited Bitcoin Unlimited is a proposed upgrade to Bitcoin Core that allows larger block sizes. The upgrade is designed to improve transaction speed through scale.
Blockchain Explained
A guide to help you understand what blockchain is and how it can be used by industries. You've probably encountered a definition like this: “blockchain is a distributed, decentralized, public ledger." But blockchain is easier to understand than it sounds.
Top 6 Books to Learn About Bitcoin About UsAdvertiseContactPrivacy PolicyTerms of UseCareers Investopedia is part of the Dotdash publishing family.The Balance Lifewire TripSavvy The Spruceand more
By Satoshi Nakamoto
Read it once, go read other crypto stuff, read it again… keep doing this until the whole document makes sense. It’ll take a while, but you’ll get there. This is the original whitepaper introducing and explaining Bitcoin, and there’s really nothing better out there to understand on the subject.
“What is needed is an electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party

submitted by adrian_morrison to BlockchainNews [link] [comments]

Burstcoin: A Diamond In The Rough That Will Prosper Long Term

Burstcoin: A Diamond In The Rough That Will Prosper Long Term

https://preview.redd.it/jbn4w5oaut021.png?width=1380&format=png&auto=webp&s=05048e92518ac6c2ba88cb0a4a91165528671104
http://genesisblocknews.com/burstcoin-a-diamond-in-the-rough-that-will-prosper-long-term/
There are currently 2,074 cryptocurrencies on CoinMarketCap, most of which are copycats, driven by pure ICO greed, or just shitcoins in general. As the napalm of SEC enforcement and investor capitulation burns through the crypto space, most of the cryptocurrencies listed on CoinMarketCap will probably be decimated and relegated to the history books. Burstcoin (BURST) sits way back at #223 on CoinMarketCap, with its market cap near USD 10 million, but it is a diamond in the rough. BURST is truly decentralized, launched with zero ICO nor premine, and uses the unique Proof of Capacity mining algorithm. Therefore, GenesisBlockNews believes BURST will easily survive this ongoing crypto armageddon, and will prosper long term.
I first wrote about BURST for BitcoinNews, when I interviewed Burstcoin developer Daniel Jones. You can listen to the interview with Daniel about Burstcoin at this link. At that time BURST was at #248 on CoinMarketCap, and that was during the stable period before this nuclear bear market started. BURST has crawled 25 places up the CoinMarketCap ranks since then, during the worst crypto market conditions in recent memory, showing its grit. This is due to the merits of BURST.
BURST uses Proof of Capacity mining, where mining is done with hard drives instead of raw computational power like with Proof of Work. A 1-time hashing cycle is done, which is called plotting, which fills the hard drive with a tremendous amount of cryptographic hashes and proves the capacity of the hard drive. This plot is read during mining to find the correct cryptographic hash, and whoever finds the answer the quickest in their plot gets the block reward. More hard drive space equals more answers, and therefore more hard drive space increases BURST profits when mining. On average every 4 minutes a block is found, and the block reward is around 750 and decreasing at the rate of 5% per month. The block reward started at 10,000 when BURST launched in 2014, and when mining is done there will be 2.158 billion BURST total.
Proof of Capacity mining uses practically no electricity, making BURST one of the only profitable cryptocurrencies to mine on personal computers. Even if BURST mining only earns about 1-2 BURST per day on a 1 TB hard drive, that is pure profit, versus mining Bitcoin, Litecoin, or Dogecoin, where energy expenses far outweigh mining revenue when using a personal computer.
Since any computer can mine BURST, as long as it has hard drive space, the BURST network is highly decentralized. Currently there is an astonishing 300,000 TB, which is 300 PB, securing the BURST network. That’s equivalent to the hard drive space of hundreds of thousands of personal computers.
Beyond the merits of being decentralized, having a unique algorithm, being profitable for mining and easy to use on personal computers, and having zero premine, the BURST development community is comprised of some of the best blockchain developers. BURST has direct on-chain storage via Cloudburst, which has the ability to immutably store files. As long as BURST exists, files stored with Cloudburst will never be deleted. BURST has built-in smart contract technology that can be used to launch any sort of dApp that one can imagine, and an exchange integrated into the BURST wallet to launch and trade crypto assets. Also, BURST seems to have solved the cryptocurrency scalability problem with The Dymaxion, which is layers of tangle-based Lightning Networks. This allows for infinite transactions at zero fees, while using practically zero energy.
GenesisBlockNews believes BURST will emerge as a survivor no matter how many cryptocurrencies crash and burn during this nuclear bear market. Due to its merits and attributes, BURST is in a strong position to become a major cryptocurrency in the long term, and seems to be ridiculously under priced at the current value of half a cent per BURST.
submitted by turtlecane to burstcoin [link] [comments]

Start Here for Much Wallet WOW!

EDIT 2017-02-10: A word about Nodes

There is a discussion about nodes that came up today, where it seems I'm discouraging people from running the full QT/Core client. Yes and No. What I'm trying to make sure people understand is how things work, and that it is NOT mandatory to run a client in order to use Dogecoins (and yes, I realise that browser-based tools like coinb.in and wallet sweepers are 'clients' by strict definition).
That said, more nodes is absolutely a good thing for the network. Preferrably full nodes. How do you run a full node? Just run Core/QT and open up Port 22556 on your router so it can connect to more than 8 peers. What will it cost you? You need your machine to be on 24/7/365, you need enough storage for the full blockchain (currently about 20Gb. Bitcoin is over 120Gb) and enough bandwidth to keep it in sync and share blocks with peers. A couple of Gb a month, most likely. This is best done with a desktop on a wired broadband link. Or maybe a hosted VM in the cloud. :)

EDIT 2017-01-09: Wallets WITHOUT Clients

Since I started helping people on /BitcoinBeginners, I'm getting a lot of questions about how to use wallets without running clients or trusting third parties. So here are a couple of resources that will make that possible, and not just for Dogecoin:
Multi-Coin Wallet Generator Now supporting 129 currencies! Coinb.in Start by setting the currency, found in the gear wheel in the Broadcast tab. Dogecoin Wallet Sweeper Redeem 'paper' wallets containing up to about 100 UTXOs. Bitinfo Charts My favourite block explorer, handles a bunch of cryptos.
Using these resources, it is possible to hold, receive and spend coins in various currencies, without having to run QT or a 'lite' client. You can also download and run the pages on your own device.

EDIT 2016-11-23: SEMANTICS about MINING! :P

Even though there is already a section on mining below, it has been suggested given the huge number of posts on the subject that this needs to be made clearer. Since people get their panties in a twist over the word 'dead', lets change that...

MINING IS DEAD!

MINING DOGECOIN IS UNPROFITABLE!

Put simply, there is no way to mine Dogecoin and make a profit because of the massive hashpower provided by industrial-scale Litecoin miners. Mining Doge directly stopped being viable when our hashrate exploded with the introduction of AuxPoW. Mining with CPU's and GPU's died when ASICs were introduced. And mining with a laptop WILL kill your laptop and cost you a fortune to repair or replace. Mining Litecoin with an exchange that also mines Doge and others will earn less than the electricity consumed, and you won't recover your costs. Probably ever, but certainly not in any reasonable time.
Mining other currencies may be a thing, but that's beyond our scope here. This is /Dogecoin, not /GetRichMiningCryptos after all. If you want to mine the newest scamcoin for fun and profit, look elsewhere for advice. :/
Oh, and most important:

READ BEFORE YOU POST!

At any given time, there are half a dozen posts on the frontpage just like the one you're about to write, where the answers have already been given. Read them. Don't make people waste their time repeating themselves because you were too lazy to bother reading stuff. :P
So there I was, having a quiet Sundy arvo bludge, as you do, when 42points turned up on Facebook and asked me to write a new sticky post for /dogecoin. Why would he do this, when he should be having a bludge himself, I hear you ask? Well, seems he was doing exactly that, and wanted to fob off the work he’s too slack to do himself. ;) Ah well, being a sucker for punishment, I’ll grudgingly oblige I guess.
OK, first things first.

The Clients:

Dogecoin Core 1.10.0 2015-Nov-01
Bootstrap file for Core to save some download time.
Dogecoin Core Guide Wiki
MultiDoge v0.1.7 2016-Jan-31
Android Dogecoin Wallet 2.0.8 2016-Jan-18
Android Coinomi Wallet
Java Cate 0.14 alpha 2 Multicoin wallet 2016-Feb-14
Exodus multicoin wallet
iOS Doughwallet

Do you REALLY need a client?

Wallet ELI5
UTXO ELI5
Paper Wallet Generator
Sample HTML Wallet List
Dogetipbot subreddit and website
Dogechain Wallet
Block.io Wallet
Exchanges
BTC38
Poloniex
CoinSpot
ShapeShift - Not really an exchange, rather a currency trader.

Mining

Litecoinpool
Prohashing
Zpool

Explorers

BitInfoCharts - My favourite, has charts!
chain.so
dogechain.info
/dogecoindev where the devs hang out

More Info

Dogeducation
Technical Wiki
Preev currency value calculator

EDITS:

From peoplma
I was wondering if you could add just a couple things. A link to the coinomi android wallet, it's probably the best one out there. And a sentence somewhere along the lines of "if you need help with any dogecoin software you are welcome to make a post, but PLEASE include your OS, version number of the client, and any relevant transaction IDs that you are willing to share" if you can fit that in somewhere.
Also, if you want to link to Prohashing, I'm pretty sure it's the only Scrypt mining pool that will actually pay out in doge. The others I know of pay out in litecoin or bitcoin. And it's a profit switching multipool, so gives a better return than just mining ltc/doge.
And there's these two wiki articles I thought would be helpful to link /dogecoin/wiki/technical for those technically minded newbies or intermediate users who want to dig a little deeper. And maybe a link to /dogecoin/wiki/dogecoincoreguide next to the link for dogecoin core.
From pts2002
Finally a proper sticky post! Here's some other stuff you could add:
zpool.ca mining pool - You can get paid in pretty much any coin, and you can mine in multiple algos (currently mining lyra2v2 with my GPU). Doing about 500Ð/day
shapeshift.io exchange - My favourite exchange, quick and easy. No registration required!
Also, you should add some blockchain explorers!
chain.so - Support for bitcoin, litecoin and doge.
dogechain.info - Official blockchain explorer. Includes a wallet (already mentioned). Live update currently not working (?)
EDIT: Here's another thing I found!
preev.com currency value calculator - Easy way to check the value of your dogecoins (or bitcoins, or litecoins, or peercoins)!
submitted by Fulvio55 to dogecoin [link] [comments]

Top Trading Cryptocurrency Pairs of 2018: Changelly Analytics

Top Trading Cryptocurrency Pairs of 2018: Changelly Analytics
The year 2018 was not as fortunate for the cryptocurrency market as 2017. On the one hand, due to the market downfall, dozens of cryptocurrencies lost in value. On the other – this crypto winter helped to crystallize more strict rules towards industry regulations, and also triggered to leave those market players who are not ready to interact with the emerging realities.
Changelly formed the ratings of the top-10 most popular crypto trading pairs along with the most sold cryptocurrencies and most bought cryptos of 2018. You are welcome to read this overview to find out what was this year like for the exchange service and its users. Hopefully, this overview will help you to make some useful conclusions or even to forecast your further behavior in the crypto field.

Top-10 Cryptocurrency Trading Pairs of 2018

Just a small reminder: one of the key concepts of the cryptocurrency market is a Crypto Trading Pair. It is formed when you decide to exchange one crypto asset for another. Below are top-10 crypto trading pairs in 2018 according to Changelly crypto exchange service:
https://preview.redd.it/dgqhaf6lz7r21.png?width=1024&format=png&auto=webp&s=5ec885e91d3b36ce44c994e45a202df54af361df
As you can see from the infographic, the first two places are shared between the BTC-ETH and ETH-BTC crypto trading pairs with the total exchange volume of 24.7% and 20.5% respectively. In the cryptocurrency market, all trading pairs usually contain these headliner currencies. This is explained by the fact that the crypto market participants keep their savings in BTC or ETH. Accordingly, when a person decides to buy cryptocurrency, which seems the most promising, he or she exchanges Bitcoin or Ethereum for the destination crypto, let’s say ABC. Thus, a crypto trading pair BTC-ABC or ETH-ABC is formed.
Another crypto project which turned to be the rookie of the year is XRP. Crypto trading pair BTC-XRP takes the third place in Changelly rating. Also, XRP is still on the 3rd position in the cryptocurrency market rank. XRP started 2018 at the mark of ~USD 3.00, and during the year the rate was waving between USD 0.2 and USD 1.00. After the winter’s cryptocurrency market boom the next biggest hype around XRP peaked in autumn 2018 when the XRP market cap increased twice from US$11 billion to US$22 billion.
However, there are more crypto assets worth paying attention to. Firstly, it’s the currencies which appeared as a result of a hard fork of the Bitcoin blockchain such as Litecoin. The virtual asset appeared as a result of BTC blockchain split in October 2011. However, the trading pair LTC-BTC takes the fourth stage in crypto pair rating and points the fact that in 2018 a vast amount of LTC holders preferred to exchange their LTC savings back to BTC.
The other trendy crypto of the last year is DogeCoin. The fifth position in the rating takes BTC-DOGE trading pair, which shows the opposite situation if to compare with LTC-BTC trading pair. So, which factors motivated hundreds of crypto enthusiasts to exchange their BTCs in favor of the Shiba Inu coin? The first price spike occurred on the edge of 2017 and 2018 which was entirely predictable in the context of crypto hype momentum. The coin’s price reached $0.017 in comparison to $0.001 in November 2017. The second spike happened on the edge of the August and September 2018, when the Dogecoin raised from its low of $0.0025 to almost $0.05. The below-mentioned factors became the moving force for DOGE price and value significant increase:
  1. The appearance of DOGE on the Yahoo Finance platform
  2. Dogecoin listing on Poloniex exchange
  3. The ‘Dogethereum’ bridge release

Top-10 Most Sold Cryptocurrencies in 2018

https://preview.redd.it/c1ql74gqz7r21.png?width=1024&format=png&auto=webp&s=24de3f9f40c44ca6ef9ec193b39b971861fb8339
Despite all the ups and downs of the market along the previous year, the pioneer cryptos didn’t change. Such giants like Bitcoin and Ethereum formed the entire industry in its roots, so along 2018 BTC and ETH were keeping the leading positions as the most sold and bought assets on the crypto market.
The fourth position goes to Monero or XMR with a total selling volume of 7.1%. As you probably know, Monero distinctive feature is total anonymity. On the one hand, this is the superpower of cryptocurrency which has been moving the blockchain industry forward from the very beginning. On the other hand, the time has shown that the abuse of anonymity became a disruptive power, following increased incidents of using Monero for money laundering. Thus, the decision to eliminate Monero from Changelly was motivated primarily by security reasons. As you can see from the diagram, Monero takes the 4th position in the top-10 most sold cryptos on Changelly even though the asset was switched off from the service in autumn 2018.
The last but not the least cryptocurrency in Top-10 most sold cryptocurrencies rating is USDT. The first stablecoin pegged to USD fiat currency caused quite a stir along 2018. A sharp drop in price occurred in the middle of October 2018. Anonymous attackers provoked the accident to increase the price of other cryptocurrencies.

Top-10 Most Bought Cryptocurrencies in 2018

There’s an interesting observation if to compare diagrams with the most sold and most bought crypto assets of 2018. In both cases, BTC and ETH took the 1st and the 2nd places respectively. However, along 2018 the trend to sell Bitcoin contrasted with the trend to buy Ethereum.
https://preview.redd.it/7qyggmq008r21.png?width=1024&format=png&auto=webp&s=35dd0dc46e6be226c652d4350c3f5733709a5ebd
The total value of sold BTC is 42.8% against 16.6% of sold ETH, while the chart of the most bought cryptocurrencies shows only 34.5% of BTC against 24.3% of ETH.
There is another prominent altcoin we haven’t mentioned yet. Bitcoin blockchain split made much noise back in 2017. As a result, the new cryptocurrency BCH was born. The hard fork took effect on 1 August 2017. In November 2018 Bitcoin Cash was hard forked again and split into Bitcoin Cash and Bitcoin SV. The confrontation of two communities surrounded the occasion. Following the network split, BCH market cap dropped dramatically. However, starting with the middle of December 2018, the market volume was partly compensated.
The fourth place in the most bought cryptocurrency rating takes Litecoin. Despite the descending LTC price trend along 2018, 8% of Changelly users took their chance on Litecoin. And as we can see now investment in LTC back in 2018 paid off at the beginning of 2019. As the Litecoin price increased almost three times from the beginning of the year.

Takeaways

To sum it up, let’s take a look at all the graphics once again. What do we see?
  • Even though the cryptocurrency market is quite volatile the pioneer cryptos take the lead. The statistics show that Bitcoin, Ethereum, and XRP take the 1st, the 2nd, and the 3rd places respectively on Changelly.com as well as on Coinmarcketcap;
  • Besides BTC and ETH, the most bought cryptocurrencies along 2018 were BCH and LTC;
  • The statistics also show that high-profile events frequently form the crypto market cap, whether it’s a hard fork (like in case with BCH) or a stablecoin release (like the USDT release). There is no smoke without fire;
  • At the same time such cases like the one with Litecoin clearly illustrates that even when its long bearish trend for a coin, the price reversal can happen any moment;
  • Moreover, following the research, we can see that there are a lot of long-standing cryptocurrencies that take place in the top-10 rating. No matter the hype, such factors like the technology behind the crypto, and the time of cryptocurrency existence can make it worth investing.
submitted by changelly_com to CryptoCurrency [link] [comments]

Dogecoin value independent of Bitcoin

I was looking at this chart and found it interesting:
https://i.imgur.com/SKO67Kt.png
It looks like, historically, Dogecoin's price has been pretty closely tied to its value relative to Bitcoin. Today, however, we're seeing a massive increase in Dogecoin value in USD (approaching all-time high from May) whereas the value relative to BTC remains low. This seems to be the first time this has happened in Dogecoin's history.
submitted by derpington_the_fifth to dogecoin [link] [comments]

[Info] Clearing up missinformation about our inflation rate

I keep seeing posts saying that we have a crazy inflation rate of 5% annually, that Bitcoin/Litecoin have no inflation rate, that inflation rate kills currencys and all this information. I need to straighten some information out.
WE DO NOT HAVE A 5% ANNUAL INFLATION RATE:
We have a 5 billion coin inflation rate, and that happens to be 5% for the first year once we hit 100 billion. After a year, that 5% will not be 5%. It will be 5/105=4.7%. In the year 2019 we will be at 4%. The reason is because our 5 billion is a constant. It is NOT a compounding 5% like most fiat currencys have. This is NOT the same as compound interest where it will sky rocket out of control. This is a set amount. A constant. Remember that.
BITCOIN AND LITECOIN HAVE A HIGHER INFLATION RATE THAN 5% FOR THE FOLLOWING YEARS TO COME:
I am in search of the chart showing it, but there was a chart talking about the inflation of Bitcoin/Litecoin/Dogeocin. Basically, Bitcoin will have a higher then 30% inflation rate annually next year. That means that, while we are at 5% that year, Bitcoin will be MORE inflationary then Dogecoin. More supply entering the economy.
Likewise, Litecoin will not reach the halvings needed to be down to 5% inflation until the year 2019. But wait? Dogecoin wont even be at 5% in that year. We will be at 4%, meaning even after 5 years we will still have a lower inflation rate then Litecoin.
Deflationary currencys only become deflationary once they are mined out. Until then, those currencys are and will stay inflationary.
INFLATION DOES NOT KILL A CURRENCY:
People keep saying that inflation makes a currency useless. I keep seeing posts in /new claiming that having a inflationary currency encourages hoarding or people just selling since it is a useless investment. Not only will the other currencys be MORE inflationary then us come that 600,000th block(the 100 billion 'cap' that got 'changed'), but inflation actually does the opposite.
The point of inflation is it makes you THINK you money will be worth less tomorrow then today, so because of that fact it is better to spend your money today to buy that good instead of tomorrow. This makes hoarding a bad idea and essentially encourages trading/buying/selling. That, in turn, strengthens the economy and raises the value of our currency due to having a stronger economy. That is the whole point of inflation - to strengthen a economy by encouraging people to use the money now instead of hoarding it. If our growth exceed 5% annually( or 4.5% ofrwhatever it is for that year), then we just beat the inflation. Why did our growth go up? Because people were not hoarding DUE TO THE INFLATION. As long as we continue to grow our economy, which inflation will help, we will raise in value and beat that inflation.
A lot of people keep acting like we have 5% compound inflation instead of constant and seem to think no new Bitcoins/Litecoins are entering the economy and thus giving them inflation for the new few years. I just hope this clears up some information.
submitted by SunliMin to dogecoin [link] [comments]

Burstcoin: A Diamond In The Rough That Will Prosper Long Term

Burstcoin: A Diamond In The Rough That Will Prosper Long Term

https://preview.redd.it/1ry4lf0eut021.png?width=1380&format=png&auto=webp&s=0059c743f940353797fa0aa246ff71ddcdd37f3b
http://genesisblocknews.com/burstcoin-a-diamond-in-the-rough-that-will-prosper-long-term/
There are currently 2,074 cryptocurrencies on CoinMarketCap, most of which are copycats, driven by pure ICO greed, or just shitcoins in general. As the napalm of SEC enforcement and investor capitulation burns through the crypto space, most of the cryptocurrencies listed on CoinMarketCap will probably be decimated and relegated to the history books. Burstcoin (BURST) sits way back at #223 on CoinMarketCap, with its market cap near USD 10 million, but it is a diamond in the rough. BURST is truly decentralized, launched with zero ICO nor premine, and uses the unique Proof of Capacity mining algorithm. Therefore, GenesisBlockNews believes BURST will easily survive this ongoing crypto armageddon, and will prosper long term.
I first wrote about BURST for BitcoinNews, when I interviewed Burstcoin developer Daniel Jones. You can listen to the interview with Daniel about Burstcoin at this link. At that time BURST was at #248 on CoinMarketCap, and that was during the stable period before this nuclear bear market started. BURST has crawled 25 places up the CoinMarketCap ranks since then, during the worst crypto market conditions in recent memory, showing its grit. This is due to the merits of BURST.
BURST uses Proof of Capacity mining, where mining is done with hard drives instead of raw computational power like with Proof of Work. A 1-time hashing cycle is done, which is called plotting, which fills the hard drive with a tremendous amount of cryptographic hashes and proves the capacity of the hard drive. This plot is read during mining to find the correct cryptographic hash, and whoever finds the answer the quickest in their plot gets the block reward. More hard drive space equals more answers, and therefore more hard drive space increases BURST profits when mining. On average every 4 minutes a block is found, and the block reward is around 750 and decreasing at the rate of 5% per month. The block reward started at 10,000 when BURST launched in 2014, and when mining is done there will be 2.158 billion BURST total.
Proof of Capacity mining uses practically no electricity, making BURST one of the only profitable cryptocurrencies to mine on personal computers. Even if BURST mining only earns about 1-2 BURST per day on a 1 TB hard drive, that is pure profit, versus mining Bitcoin, Litecoin, or Dogecoin, where energy expenses far outweigh mining revenue when using a personal computer.
Since any computer can mine BURST, as long as it has hard drive space, the BURST network is highly decentralized. Currently there is an astonishing 300,000 TB, which is 300 PB, securing the BURST network. That’s equivalent to the hard drive space of hundreds of thousands of personal computers.
Beyond the merits of being decentralized, having a unique algorithm, being profitable for mining and easy to use on personal computers, and having zero premine, the BURST development community is comprised of some of the best blockchain developers. BURST has direct on-chain storage via Cloudburst, which has the ability to immutably store files. As long as BURST exists, files stored with Cloudburst will never be deleted. BURST has built-in smart contract technology that can be used to launch any sort of dApp that one can imagine, and an exchange integrated into the BURST wallet to launch and trade crypto assets. Also, BURST seems to have solved the cryptocurrency scalability problem with The Dymaxion, which is layers of tangle-based Lightning Networks. This allows for infinite transactions at zero fees, while using practically zero energy.
GenesisBlockNews believes BURST will emerge as a survivor no matter how many cryptocurrencies crash and burn during this nuclear bear market. Due to its merits and attributes, BURST is in a strong position to become a major cryptocurrency in the long term, and seems to be ridiculously under priced at the current value of half a cent per BURST.
submitted by turtlecane to CryptoCurrency [link] [comments]

Burstcoin (BURST): A Dark Horse That Could Become A Major Cryptocurrency, The King of Proof of Capacity

Burstcoin (BURST): A Dark Horse That Could Become A Major Cryptocurrency, The King of Proof of Capacity

https://preview.redd.it/3avf5qg5r4221.png?width=572&format=png&auto=webp&s=b54fac16e32a99f2eb544a5ec9f6439b2915a06d
https://cryptoiq.co/burstcoin-burst-a-dark-horse-that-could-become-a-major-cryptocurrency-the-king-of-proof-of-capacity/
Currently the cryptocurrency space if flooded with copycat coins and initial coin offering (ICO) tokens, most of which are moving steadily down the ranks on CoinMarketCap as the bear market of 2018 continues. This bear market is weeding out cryptocurrencies that have little long term potential, and cryptocurrencies that have strong communities and unique technology are rising to the top. Burstcoin (BURST) is one such cryptocurrency that is rising to the top, like cream in a glass of fresh milk. This is because the Burstcoin community is filled with diehard Cypherpunks, and BURST is the king of Proof of Capacity.
Back in the middle of October 2018 BURST was at #248 on CoinMarketCap, which was before the ‘nuclear’ bear market took effect, where the support level was broken due to the Bitcoin Cash hard fork, Bakkt delaying the launch of physical Bitcoin futures, and the Securities and Exchange Commission (SEC) initiating its first civil enforcement penalties against ICOs. BURST has decreased in price like every other cryptocurrency, but is rising relative to other cryptocurrencies, and as of 3 December 2018 sits at #199 on CoinMarketCap with a market cap of USD 13.5 million.
This increase in the price of BURST relative to other cryptocurrencies is due to Burstcoin’s unique technology. Burstcoin is the king of Proof of Capacity, a mining algorithm that uses the hard drive, versus raw computational power like with Proof of Work, and is much more energy efficient than Proof of Work. Proof of Capacity works by writing cryptographic hashes to an allotted segment of a hard drive called a plot. This plot is then read during mining to find the correct cryptographic hash, and whoever finds the cryptographic hash the fastest receives the block reward. More hard drive space dedicated to the plot equals more cryptographic hashes available, making it easier to find an answer and earn the BURST block reward.
Currently 1TB generates 1-2 BURST per day, and even though this is only equivalent to about a penny, it is all profit since reading the plot file requires a negligible amount of energy, and BURST miners can use their computer for other activities without impediment. Compare this to Proof of Work, which slows down personal computers and costs more electricity than the cryptocurrency it mines. BURST is one of the only cryptocurrencies that can be profitably mined on personal computers.
Further, unlike with Proof of Work where specialized mining equipment is required like application specific integrated circuits (ASICs), anyone with a computer or even mobile phone can mine BURST, and if they decide to stop mining BURST they can simply delete their plot file and use the hard drive space for other things. This is unlike ASICs, which cannot be used for anything but mining, so if someone decides to stop mining they lose all the money invested into the ASIC.
The ease of mining and negligible energy usage has led to the formation of a strong BURST mining community, with over 200,000 TB securing the BURST network. This is equivalent to hundreds of thousands of personal computers. The expansive mining community gives BURST value, and some of these miners are blockchain developers, and they have been building a full suite of technology based on the Burstcoin blockchain.
CloudBurst immutably stores files directly on the Burstcoin blockchain, for a small 1-time fee. Real blockchain storage is a rarity in the cryptocurrency world. The file will be stored as long as the Burstcoin blockchain exists, which is the foreseeable future and beyond considering the expansive BURST mining community. Cloudburst would be useful if you lost your computer and all of your backups in a natural disaster like a hurricane, and is a more secure solution than cloud storage like Google. Also, the Burstcoin wallet can be used to easily issue cryptocurrencies that are based off of the Burstcoin blockchain, and there is a decentralized exchange built-in to the wallet to trade these crypto assets.
Cryptocurrency scalability is a problem even for major cryptocurrencies like Bitcoin and Ethereum, but Burstcoin has tackled and solved this problem with the launch of the Dymaxion. The scalability of the Dymaxion is so powerful that it can handle all the non-cash transactions in the world. This is done via the utilization of tangle-based lightning networks on top of the Burstcoin blockchain. Transactions done via the Dymaxion are instant, with no fees and practically no energy expenditure. The Dymaxion gives Burstcoin the room to grow as much as it needs to.
When people look for the cryptocurrencies that will survive long term, it can be confusing due to the 2,000+ cryptocurrencies listed on CoinMarketCap. However, it is clear that cryptocurrencies with truly unique and useful technology, as well as strong communities will always be around and gain value long term relative to all the ICOs and copycats. Bitcoin is the king of SHA-256, Litecoin is the king of Scrypt, Ethereum is the king of blockchain-based dApps, Dogecoin is the king of the shibes on Reddit, Dash is the King of X11, Monero is the king of privacy coins, IOTA is the king of Directed Acyclic Graphs (DAGs), and Burstcoin is the king of Proof of Capacity. These kings of cryptocurrency will definitely be the winners and survivors when the fallout from the ICO apocalypse is over.
This is for educational purposes only and is not investment advice. We are not paid by BURST to write this article.
submitted by turtlecane to CryptoCurrency [link] [comments]

I GOT IT! Do you know what the problem is ON THIS SUB?

ME and maybe YOU.
Ok, so we're divided here. Some want serious, some don't.
This is what happened for me with dogecoin, and I think may have happened for a lot of people here :
But you know what, this sub as always been the same. Lighthearted and fun. It's my fault, greedy. Now I'm stuck with you shibes, I must accept it. So do you.
So I'm gonna shut my mouth now, forget about the million $, and keep loving dogecoin. That's not why I came in for at first place, that's not what I expected but fuck it, I'm into it now.
All FUD/price/whatever people, I invite you to do the same. It's too late to sell out anyway ;)
Enjoy, spread the word.
submitted by alarmcloque to dogecoin [link] [comments]

Multipools dumping Doge

Multipool- A pool of miners that automatically mine the least difficult, most valued and easily tradable cyptocurrency, at that time. These pools automatically! switch between coins as they become more valuable to mine. One of their favorites just happens to be Doge, alongside aurora and litecoin. They do this to maximize their daily mining profits. These coins are then automatically! sold for bitcoin on an exchange; dumping said coins for whatever they can get at the time! <-- For those that don't know :)
If a coin becomes the target of this, its value can be pushed down significantly! At the same time said coins difficulty increases because of the huge surge in hashing power by these multipools. Making it more difficult for dedicated miners. In fact, this has completely destroyed smaller coins before.
http://www.coinwarz.com/cryptocurrency/coins/dogecoin <-- If you look at the difficulty chart here, you will notice that it looks like a saw. This is because we are being targeted repeatably by multipools.
These pools are causing our mining difficulty to jump from 900 to 1200 repeatedly (70gh to 100gh, global hashrate) This is a 25-30% increase over the entire global hashrate of all of the doge being mined everwhere!!
i.e. lets say we mine 360 mil Doge a day(what I saw quoted awhile ago) and 25% of that is being sold as soon as its mined. That would roughly be 90,000,000 coins being sold and dumped immediately!
So vast amounts of doge are being traded automatically for bitcoin and driving down our value. If you put a massive supply of anything to sell on a market, the supply outweighs demand and the price falls Thankfully, another halvening is just over a month away. This will make sure that we aren't one of the most valuable coins to mine and as such wont be targeted by multipools! Well, at least not until our value goes way up! If you can, buy doge now!, You will never see it this cheap again after the next halvening in april.
tl;dr Stoopid multipools! I shake my fist at thee!
submitted by Teltor to dogecoin [link] [comments]

Shibe Philosophy, Volume 1: Sea of Ðoge

"To act wisely when the time for action comes, to wait patiently when it is time for repose, put man in accord with the tides. Ignorance of this law results in periods of unreasoning enthusiasm on the one hand, and depression on the other." - Helena Petrovna Blavatsky
 . 
How many tractors is it worth?
A topic that gets discussed a lot is the Doge/BTC conversion rate. Whenever there's a move you can't get through a page without at least a few posts about how we've beaten xxx satoshi and all debt everywhere is about to disappear! Or we've dropped a few satoshi and it clearly needs to be interpreted as the arrival of the fourth horseman of the apocalypse.
So let's have a look at what it actually means. That measure of value is how many hundred millionths of one bitcoin that one doge is worth. Ok... so what does the movement of that number mean for dogecoin?
Not much... sorry.
It doesn't necessarily mean dogecoin has gone up or down in value, it could just mean that bitcoin has risen or dropped and dogecoin is worth a little more or less bitcoin. It could mean that people are trying to manipulate the price by buying or selling huge amounts to incite panic. Valuing dogecoin based on a different cryptocurrency that has its own fluctuations, its own successes and failures, is a bad way to view success for doge. Also, knowing how many bitcoin we can buy with it is useless because, if you have dogecoin why would anyone want to buy bitcoin with it??
Take the current rate for example, at the time of writing this dogecoin is sitting around 280-290 satoshi, the highest rate it has achieved steadily. The last time it was near that high in late Jan though, bitcoin was worth about $200 more per coin, therefore 230 satoshi at that time meant doge was about the same value in USD that it is now at 280.
So am I suggesting that we measure it against USD instead? No. USD also rises and falls constantly, as does every currency, as does the value of every thing that can be purchased. What I'm saying is that this is not a thing worth obsessing over. If you looked at charts of USD against other currencies and saw it going down for a few days, would you suddenly panic, take all of your money out of the bank and exchange it for Indian Rupees because someone on the internet told you that the whole US economy is about to disappear? Dogecoin's value is reliant on what you believe it to be. People have faith in fiat currency, so it has a value. You don't need to look at how many bitcoin your doges can buy, all you need to do is believe in the Ð.
 . 
Waves and Meditation
Any time you're worried about the price of doge, do yourself a favour and look at the doge/BTC chart on cryptsy, click on the 1M button above it to see the last month, then in another tab play this.
Then you will see, all the movements are just waves. Sometimes big, small, high or low, but don't let them stress you. They're natural, perfectly normal. There will always be peaks, and always be drops, that's the way it will always be. You can't fight the waves, so why spend all your time focussing on them and stressing about them?
Remember shibes, the tides are caused by the moon. As we get closer to moon, tides rise, with the moon pulling its beloved dogecoins and shibes closer to where they belong. The moon is further away on some days than others, but please don't ever let that make us lose sight of our destination.
 . 
But JakeTheDoge, I had the charts surgically implanted into my retinas so I could watch them 24 hours a day! What will I do now?!
Well, oddly technological shibe, why don't you try spending a little less time obsessing over meaningless temporary changes and instead spend it looking into what new developments are being made in dogecoin! Or finding new things for us to support and telling the dogecoin foundation about them, or thinking of your own way that you can help spread the love to new shibes! That is what dogecoin truly needs from its shibes, and every little bit you can do to help makes you a part of the revolution of internet currency. So tell your friends, petition your favourite websites, put stickers on anything that won't get you arrested, anything!
Do you want to tell your children that you once had thousands or millions of doge but you panic sold them when they were worth a fraction of a cent and that's why dinner will be spam again tonight? Or will you take them shopping for whatever they want, tapping your wrist against the register with your digital doge wallet implanted under your skin (probably... apparently people already have screens on their retinas, subcutaneous doge wallets can't be far off) while telling them for the 400th time that you were there, right at the beginning you were there, and you helped make a revolution.
 . 
Tl;dr Worried about doge/satoshi rates? Stop looking at charts, go lay on a beach and listen to the waves, then your moon ride is gonna be silky smooth. Just relax man, the Ðoge abides.
1 doge = 1 doge = love
Love, JakeTheDoge – moonship technician
 . 
P.S. As I mentioned here I am doing this not for profit. So if anyone is interested and tips in my bloge posts, half of that will go to the dogecoin foundation and the other half will be used for giveaway threads, most likely done once a week if it goes well. Thanks shibes!
submitted by JakeTheDoge to dogecoin [link] [comments]

How Dogecoin helped me to feel better a few years ago, and how I recently came back among this great community. (warning : long emotional story)

/!\ You may shed a tear (of laugh ?) while reading this. /!\
So, in December 2013, I was a 16 yo teenager struggling with many problems. My life wasn't going well at all ; I had a severe crush on that girl who didn't love me back, I had to move in a crappy tiny flat with my father because of his money issues, my parents were in war and, being in between, I had to endure their anger tantrums. I was also very uncertain about my future. So, everyday, I was like : WHAT-AM-I-GONNADOOOO ???
After a crappy Christmas evening, I checked the news of the day, looked in my email box if my crush answered to me, sighed, looked AGAIN in it if my crush answered to me, crying a bit, and then I decided to go on Reddit (with another account) like I used to do on a daily basis. On one of the subreddits I was following (can't remember which though), I saw someone tipping another someone with Dogecoin. Being a bit surprised, and being a bit aware of cryptocurrencies without knowing a lot about it, I decided to look further, and I fell here, on /dogecoin.
I read a few posts, and I instantly got a smile on my face, which was rare during these times. I found people with a big heart who were amused by little jokes and puns, tipping strangers living on the other side of the globe, having fun with simplicity. So I said to myself : "Eh, I want to get some fun with these people too". I followed some tutorials on how to use Dogecoin, downloaded MultiDoge, created my first wallet. I received my first tip quickly after that, on a giveaway for newcomers. (Thanks for introducing me to Dogecoin, dear Meoau !)
A month passed, and I was having a lot of fun with the community, getting tipped, tipping back, creating bad doge memes, laughing like a child, forgetting about my problems. Then I finally bought some Dogecoin. That was just before the big February 2014 dip. The value quickly decreased, but in my heart, 1 doge was still 1 doge.
Because of my near coming exams in June 2014, I had to work hard on it, and I put Reddit aside for a moment. A lot of events followed these exams ; I went into university, had to study hard, etc. I didn't have much time to get into Dogecoin again, but I remember thinking about it sometimes, and planning to go back to it when I would have less work to do. Then, I totally forgot about it. :'(
I waited until December 2017, when I heard again about cryptocurrencies in mainstream medias and around me. I was in vacation for a week with my uncle and, during a party organized by some of his friends, we briefly spoke about Bitcoin. While speaking, I remembered I still had some Dogecoins, maybe 20000 or less, something like that. So, when I was back home, I checked the charts, was really surprised by the explosion of the value, and decided to synchronize my Dogecoin wallet. It was still here, in an obscure folder jealously kept by my hard drive. I was also surprised by the fact that this community was still alive, after all of these years ; the charities were still going, and thousands of new shibes were discovering Dogecoin everyday !
I was wrong about the amount of Dogecoins I kept. My memory failed a bit : I bought around 120000 of Doge in 2014, not 20000, and I still had those ! The day following my comeback in the /dogecoin community, I heard about the YOTD contest, and I was really interested to participate. I decided to work really hard during an entire week to provide a nice video, in order to show how much I love this community who helped me supporting the harsh times I had a few years ago. If Dogecoin helped me, it can help other people too. A few days ago I also decided to do my first giveaway, in order to welcome newcomers like a kind shibe did with me in the past.
To resume, I finally back among you, shibes, and this time I will not disappear ! <3
much love and fun :)
Ludwig
submitted by LudwigDeLarge to dogecoin [link] [comments]

Of Wolves and Weasels - Day 76 - ASICs are not the problem

Hey all! GoodShibe here!
One of the things that can be hard to wrap our heads around, especially for those watching the ticker-tape in dismay, is that there's a whole other world going on out there.
Out there wars are about to start raging, protests are getting violent, planes are going missing - essentially, good intentions or not, the rest of the world doesn't have time to think about things like Cryptocurrency.
They have more important things on their mind.
What's happening to Dogecoin is basically what's happening to every other crypto out there: We're turning inward.
With the absence of new blood and interest to shore up our valuations, cryptos have gone meta.
Some might even say 'cannibalistic'.
What that means is that Bitcoin-based multi-pools have basically turned to chewing up the wealth of other coins, strip-mining their value to convert to BTC. And that 'demand' for their coin is one of the things helping to shore up BTC's price right now.
Now, yes, this has always been kind of a 'thing' but with low amounts of people coming into our collective worlds, we've become much more vulnerable to these sorts of problems.
Unfortunately, even after Digishield has been added, it turns out that we're still in a bit of a bind, considering that we are, by far, one of the most profitable coins to mine.
Even with the halved output, our coin is up near the top of the charts.
If our NASCAR project goes off without a hitch, reminding people that we're still here, the influx will only highlight and strengthen us - a temporary influx of value for Multi-pools to strip-mine from us.
Promotion and Charity are good 'top ups', but they do little to help us long-term, especially when we don't make the best of those opportunities.
So what do we do about this?
Lots of folks have talked about changing core elements of our coin, about adopting technology that, yes, will block out multi-pools and ASICs... at a cost of locking out pretty much everyone else too.
The people with money to invest in mining are going to invest it in mining and it doesn't matter whether they're buying 40 new video cards or building server farms or creating botnets to mine for them.
These issues don't fix the core of the problem:
To the people who want to mine us dry, we're a source of income and nothing more.
The only way forward out of this tunnel, that I see, is to be out there, creating a base-level of demand.
In order to survive those who, well, simply don't care about us, we need a strong DOGEconomy. Something to help sop up the soggy coins laying around on the exchanges, pulling down our valuation.
Some have mentioned that the best way forward is to do the same to others - That DOGE should strip-mine other coins in order to inflate our price.
Of course such a tactic would be entirely an illusion - "Robbing Peter to pay Paul" as my grandfather would say - and we'd be enacting upon others that which we've already had done to us.
If we don't like it, how then can we be so bold as to go and do it to others?
The way forward is going to take the time and work of many Shibes; we can still have fun, still laugh and enjoy ourselves, but we're going to have to get our paws dirty.
I want to remind you of this bit of perspective from our friend and co-founder BillyM2K - shared in a post made on our two-month anniversary:
"The moment that people stop trying to participate in making positive things happen and start complaining that others need to do things for them is the moment a community starts to get sick. When no one is trying to make things happen and everyone is complaining that others do those things for them, that is when a community dies. Let's not let that happen."
My friends, this isn't the time to get depressed, to look wistfully at the moon and say 'it was a fool's errand'.
This isn't the time to look to the Shibe beside you and expect them to carry your load.
The moon is still there, our goal and the roadmap to get there has never been clearer.
But it takes a want.
A desire to build, even when it seems like it is all crumbling around you.
So, please, don't lose heart, my friends.
Because the work we do now will pay off down the road.
But we need to start building. And fast.
It's 7:48AM EST and we're at 63.37% of DOGEs found. Our Global Hashrate is holding well at ~77 GigaHashes per second and our Difficulty is bouncing around between ~821 and ~1501.
As always, I appreciate your support!
GoodShibe
EDIT: Changing our tech, Strip-mining other coins, they're bandaid solutions - but they won't fix the core issue, which is this:
Right now the only major 'demand' for Dogecoin is as a stepping stone for others to get access to the coin they really want.
EDIT 2: Congrats to inneedofaname as their idea to 'fund Dogechain.info' was voted forward with 51 votes and will be the community's first week-long effort. The Action thread - to get the idea up and off the ground is - can be found here.
EDIT 3: Weekly Community Voting Thread - Week 2 - Day 1 is now up! Put your ideas forward to be voted and actioned next week!
submitted by GoodShibe to dogecoin [link] [comments]

Is Dogecoin just another Beanie Baby to you?

There have been many discussions about value recently. Doge price is at the lowest point since the first week of January 2014. That means that just about anybody who has mined or bought Dogecoin this year without selling has lost value, including me. I think price will rise as we develop the technology. I think it will take time. Lots of people hoped for moon in a shorter time period. Many posts here discuss how to increase value through mining algorithms or block rewards or marketing actions. The 10,000 doge block reward after 600,000 blocks (10kBR aka OMG inflation!!!) gets much attention.
The mindset of many shibes is that if we just do X then the price will rise right away. If we cut inflation... If we sponsor another successful event... If we win another vote... If we get Coinbase to accept dogecoin... If we switch to PoXYZ algorithm... All of these are reasonable but they pale in comparison to the most important factor: finding and building online applications that benefit from the unique characteristics of dogecoin: low value per unit, quick confirm time, low transaction fee, low inflation (compared to BTC and LTC for 2015-2016), friendly community, and comic sans!
Without serious application development we are just buying doge that aren't good for much in hopes of selling them to somebody else at a higher price. To justify a higher price we think of all these gimmicks to increase the price. Beanie Babies come to mind. I tried to google price charts on Beanie Babies and I found a Bitcoin blog from 2012 on the subject. Buying and hoarding coins on speculation of higher prices for a coin with no real purpose is pretty much the same as digital Dogie Babies.
My point is that they stopped making Beanie Babies. Beanie Baby inflation was reduced to zero. Beanie Babies became scarce. Some people naively think that if supply is cut, demand will automatically increase and so will price. My point is that supply does not matter if there is not an application (demand) for dogecoin. All the efforts to build hype and awareness are just attempts to inflate the value for the next sucker that comes to the game after you.
My reason for writing this is to applaud all those that are working on technical solutions to create online applications for real world usage of dogecoin: social media tipping, digital content creator payments, gaming integration to name just a few. I firmly believe that the best application is right around the corner and all it takes is the initiative to see it and the effort to make it. It is my hope that we pool our creative energies more to applications and less to brand hype and technical tweaks. Does anybody want to buy a Princess Diana bear Beanie Baby for $4,000?
Edit: Just for lulz, I superimposed the reference Beanie Baby chart to the current dogepay.com chart. Enjoy: http://imgur.com/YbdfDaL
submitted by marfarama to dogecoin [link] [comments]

My thoughts on the dogecoin price as a bitcoin and litecoin and dogecoin user and investor - (Serious discussion)

I understand some of you are down hearted about the price dropping but after 6 months of watching this community grow let me tell you that Dogecoin has a real future - if we stay positive and keep using it.
Last year when bitcoin was around $140 I submitted a post to the bitcoin community on why I thought it will rise to $300 soon after and it blew up on the front page on bitcoin.
http://www.reddit.com/Bitcoin/comments/1onfz7/why_i_believe_bitcoin_price_will_reach_300_very/
I got some positive responses but I also got several counter arguments for the fundamental and technicals reasons of why I believed bitcoin was undervalued and heading upwards and from respected members of that community too like roger ver. It looks like bitcoin is heading up again to its all time high of $1160 on bitstamp for almost the same reasons I mentioned in that post.
So I'm here now in the hope to give my thoughts on the reasons behind Dogecoin's price decline and why I believe it will be going up and perhaps testing the all time high by year end.
The fundamentals: As a crypto investor who bought bitcoin and then litecoin early on I need to see several important positives in a coin for me to invest.
Big community, Development team, Large Volume, No or very little Pre-mine, Easy to use,
Dogecoin has all those and compares favourably to bitcoin and litcoin but crucially it has the friendly face which encourages noobs to try cryptocurrencies. I like a lot of bitcoin and litecoin followers thank dogecoin for that.
It's funny there are lots of posts on here about people should do this and that to maintain or increase dogecoin's value and some people need to do more etc. While some of that is all well and good the fact remains dogecoin's block rewards add up to a staggering 150 million doge per day and the selling pressure is so immense that a normal coin would have died a long time ago. 150 million doge are being mined and most of that comes on the market the same day yet dogecoin's price has held up pretty well because the demand is very strong - ok not as much as the sell orders but WAIT until late September when the block rewards are reduced to 40 million doge a day and see what happens then. If the demand is as strong then as it is now the price will rise dramatically over the course of a month. Stick around for that time and keep buying, spending and tipping doge!
Btw I have been in discussions with some some devs and person in regular contact with some devs and they have some exciting developments coming up in dogecoin which will be announced to the community I will let them announce it.
The technicals: Looking at the doge/BTC chart the price dropped around May 19th just around around the time bitcoin's price increased by $50 that day and continued this uptrend to the present day. Doge and Bitcoin don't share the same short term future so don't expect the same price movement currently. Dogecoin remained $0.0042-0.0046 from May 18th to May 28th. The fact that bitcoin kept rising hastened some holders of doge to sell their coins for bitcoin as they saw that rising and the same thing is happening with litecoin peercoin and namecoin aswell. Infact litecoin holders often sell their coins for bitcoin when bitcoin price shoots up, that is until they realise it's undervalued and then a few weeks later a large bull run starts in litecoin just like it did in November last year.
What that means for doge is that we have seen incredible demand for dogecoin in the face of high block rewards dumping daily on the market and bitcoin price rallying again. All I can say is well done to all of you in this community for sticking with dogecoin and using it and hopefully in a few months time we will see dogecoin price rallying upwards before we reach the 10k block rewards.
To the moon!
submitted by Justlite to dogecoin [link] [comments]

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