Here’s an article I didn’t think I’d have to see myself doing, yet here we are. DogeCoin, the silliest coin to ever pierce the 10m market cap barrier. It will go down in crypto history as one of the most successful (and ridiculous) pump and dumps. Where do I even start with this?
Due to the silly nature of the coin, no one took it seriously, so the hashrate was extremely low during the first few days. DOGE ownership is extremely disproportional because of this, with the early few miners (or diggers, as they call them) holding the lion’s share of DOGE. No doubt they’re furiously trying to offload as much as possible while this coin is still hot.
DogeCoin reeks of developer incompetence as well. Not even 2 weeks after release, and it is already on version 1.2, with 33 commits on github. How is it even possible to screw up so many things in a simple litecoin clone?
The current difficulty scaling system this coin employs (400% in either direction) makes it a perfect candidate to get raped by multipools, so expect a hardfork soon. Total amateur job. DogeCoin is better suited to be the subject matter of a book called Baby’s First AltCoin than anything else.
DOGE is down over 50% from its high, but still has plenty of room to fall further. Can anyone honestly look at this coin and say it has a future? Yeah, it’s cute, it’s funny, but it admittedly doesn’t take itself seriously, and has no appeal to anyone over the age of 25. Like all memes, DogeCoin will eventually die off. That is an inevitable fact. Try not to be a bagholder when that happens.
Thanks, I almost thought I was missing something based on how intense the fervor is right now over DOGE. Glad to see I’m not crazy for staying out!
you’re crazy! it is so joy!~
I got in just last week and so far I’ve made $50. I think its an excellent way to expose the general population to altcoins and reflects the true culture of the middle-class Internet. The community is very friendly and we’re all raising money for good causes. How many Litecoins sponsored an Olympic Team? HMmmmmmmmmmmmmmmmmm? Just one. The Doge. Respect yo. We be jammin’!
Actually I see alot of future in dogecoin and ordered 150k dogecoin from http://dogecoinuk.com. I think this e-currency is totally distinct from the bitcoin community who tend to horde the coin because of limited supply. Shibes on the other hand are spendthrifts due to the plentiful supply which keeps the market going. Because of the abundance of this e-currency, I don’t see it going quite as high in value as bitcoin, but considering it is so cheap right now I can see myself making a big profit after this e-currency has alittle time to mature. Even if dogecoin rises to just 10p per coin my 150k dogecoin will be worth £15,000. I actually see it going much higher than this… To the MOON!
It’s still up over %400, it’s the biggest opening of an altcoin, what are you talking about it. It will level out and will be on the rise again, the community is ridiculously determined and will keep the meme alive, all it takes is one decent story about it and boom! Don’t miss out, it’s the time to buy now.
Because memes historically have a long shelf life? Please.
Sarcasm, the oldest meme. Nice choice of a reply! Really, I think you could have cho-ALL GLORY TO THE HYPNOTOAD!
You don’t get it at all. But anyway, you seem to think there are “good” altcoins. There are not. They’re all silly and useless, with fake marketing.
There is absolutely no reason DogeCoin couldn’t be as popular as Litecoin.
No, you don’t get it at all. Coins live and die by the way they are marketed. Something like this, with a silly approach and fleeting appeal, will not last long at all.
But it looks like it works? The coin appeals to people, all the other altcoins do not. Before a coin can go mainstream his users must like it. People like Dogecoin. That is what makes it strong. Doge will rise to the moon. With or without you. Ps. This article just looks like it was written by people who mistaked Bitcoin for a silly internetcoin when it started. Please do your research next time
If by people you mean children who browse reddit, then sure.
Such adult. So mature. wow.
If it’s bought, traded, used, sold and tipped, what does it matter _who_ does it? Nothing.
Just because the users don’t take themselves too seriously, don’t have cigars and fancy suits and tophats, doesn’t make the coin bad.
If Dogecoin is a childrens game and play then why the hell do people want to buy it? Why the hell do companies want in on it? And how is it that children have the possibility to buy it? Im pretty sure most of the Shibes over at r/Dogecoin are over 18 and that makes them money, votes, people that other coins and anything else “need” and are they over at some other coin? Nah they’re chillin over at r/Dogecoin .
Truth is you know this well but you have an itch you cant sratch and you put out what you want and not what really is.
Its not just silly. Really, take a good look and clear your mind for new impressions. There is a lot of good spirit in the doge community. Go to dogecoin.org. Read and learn. Regarding marketing, DOGE is a dream come true and will carry this coin to the moon.
I was close to buying it few days ago, but my thoughts that this is a joke didin’t let me 😀
Hazard, what do you think about nxt? why nxt jumped so high?
The self-evident fact that the currency has gone viral makes it a very plausable coin for everyone, because it will be recognizable, easier to use and load, unlike bitcoin (serious development is going on in the background as we speak). It took years for bitcoin to reach a peak of 5 million google searches per month. At the moment this was posted, Dogecoin is gaining a massive viral acknowledgement, sure, at first glance it looks like a joke, but the more you know…
The term DOGE is up 1.8m searches per month, only thanks to the fact that the meme was named “Meme of the year” by knowyourmeme.com. The term DOGECOIN has not yet been updated by google adwords so i don’t know how it looks.
Only time will tell what the future brings (rofl) and this is going to get real crazy before it gets really serious. That is my guess
I think this is the most logical reply to the article so far. It seems like everyone resents any altcoin that is not gold and silver. Part of dogecoin’s brilliance is the fact that it is silly and fun. This is what will make it appeal to the masses. I believe it holds an intrinsic value as a great low risk introductory tool for new digital currency users.
That said. I saw the tweet and joke domain on day 1. I pointed a POS pc over at my dads house riddled with malware and a shity nvidia card hashing away at 72kh/s and became a dogecoin millionare. I still think it is a joke. I don’t count it as a legit investment. I think the author here is miffed that he missed the best opportunity to get in on a young digital coin while mining difficulty/cost was low.
I’ve given out way more dogecoin to people i barely know just to get them started in cryptocurrency, than I ever gave out in bitcoin, and I have no regrets.
YOU MAD BRO?!!!
See Hazard, little Bobby here is the perfect example of a kid willing to join the world of cryptocurrencies because he found a “funny coin”. Once he matures he’ll get Bitcoins or any sane alt, so it *can* be seen as a good thing don’t you think?
What makes Bitcoin superior? You thought this 4 years ago? Of course not!
That’s an easy question to answer. Read up, kiddo:
dear hazard may i ask are u using wordpress for ur website and blog? if not which platform r u using
Heavily modified wordpress installation, yes.
Sounds like author’s just another butthurt bitcoin user that cant stand to see anyone else be successful. If doge was such a failure people like you wouldnt need to attack it – you’re obviously feeling threatened. Doge is doing just fine, the only reason it looks like it’s not is because of all these super sensitive bitcoin and NXTcoin children buying up and selling doge super cheap to try and sabatoge it. A tactic that won’t work and only brings DOGE more attention. Now tell me who reeks of unprofessionalism again? By the way, this is probably the most biased unprofessional attack article i’ve ever read, can you spell self serving?
Delusional… DOGE down another 20% today. Someone needs a reality check.
LOL reality is, like i said, all you bitcoiners are trying to bring the market value down. It doesnt say anything about DOGE, all it says is you’re a bunch of shady crooks that feel entitled just because you like the most used coin. Look at any of the trades on any of the sites, it’s all bitcoiners selling doge for the lowest price they can. Pathetic. If Bitcoin is so awesome and professional, why do you all need to resort to despicable tactics to keep competition down?
Wow, almost as if a BUBBLE burst. That’s weird because we all know no other coin has ever experienced a bubble before.
Once again, go look at the transactions on any trading site and tell me its not people trading hundreds of small transactions for miniscule prices. Sorry, but doge users aren’t that stupid, even though you may like to think so. There were also massive ddos attacks a week ago. Nobody would try to drive down the price of their own coin. But it’s okay, you can’t do it forever. I’ll send you a postcard from the moon.
Yes, someone is buying up tons of DOGE then selling it to make the price drop. Absolutely brilliant. You deserve the nobel prize in economics.
You have an unnecessarily hateful and hostile tone man. You’re taking this all way too seriously. Lighten up. You’ll lower your cholesterol, and maybe become less of an egotistical prick with a very condescending attitude.
Oh, sorry, let me invest my money into a damned internet meme. That’s surely a smart thing to do.
bye bye train
The way Bitcoiners feel about Dogecoin is how the rest of the world views Bitcoin i.e. a joke. It holds a mirror up to Bitcoin and they don’t like it.
People do not want to buy bits of a coin and they do not want to feel like they have been conned by early adopters. You can be a doge millionaire for 0.5 btc and you can throw those coins around like confetti. In fact it is recommended you do. It may never succeed, but I rate its chances as better than other alts because it is non threatening except to Bitcoin users who never use their Bitcoins to buy a sodding thing.
Really like your point of view..
Yet it lives 😉
Wow much angry very need to calm down such mad.
ihope dogecoin dies and all holders go bankrupt.
it’s already getting old and ppl on bitcointalk largely ignoring it
do u know some ppl r buying at ridiculous prices on ebay hoping to be rich
I rarely agree with you Hazard, but about Doge (shouldn’t that be dodgycoin?) I 100% agree.
Biggest scam / joke coin ever. Bagholders are going to get burnt!
Dogiecoin is just right. Now everybody can enter in the Bitcoin world. So doge, much fun.
You guys are all idiots, invested in dogecoins and would have made profit. But then again, most of the idiots were skeptical of bitcoin especially when it first came out. Dogecoin will go to the moon.
It’s a zero sum game. If there are winners, there are losers.
Couldn’t the same be said about any cryptocurrency in existence (referring to Dogecoin as a “Zero sum game”?)
Time to check the charts again, doge is up 80%.. It survived the first bubble and now China is discovering doge.
Serious investors don’t care about this coin but kids and tennagers like it and they are at home for the holidays and do nothing all day so most of them relay this joke on social media like 4chan, a site for kidZ…
Kids will return to school soon and dogecoin will die off…
Indeed, the ‘dev’ is an incompetent person, he didn’t even remove the references to the LuckyCoin version…
Well stated, Hazard. Seeing how most of the altcoins fare, I seriously doubt that any (even -> inf) number of 4chan/reddit/9gag monkeys will be able to create any real market capitalization for DOGE. “to the moon”, or rather “TOO TH3 M00000NN!!1111” because “IT KANT FIAL” was exactly what I heard before BTChina crash (yup, the 30 something -> 10 something one). BTW, it was [the crash] quite good thing for those with stoploss orders & position shorting, bad thing for people convinced that “the chikun wil arize”.
tl;dr – let’s wait a year and compare MC of BTC, LTC and altcoins (DOGE included) then. If somebody believes it will skyrocket into >1$ range – buy into it. I’m still not betting on a dying chicken (or a dying doge).
I’ve made a great deal mining it and trading it for bitcoin from exchange sites. Yes, it’s probably the stupidest coin I’ve ever heard of, but currently at the time of writing this, it is the most valuable SCRYPT coin to mine.
If silk road could carry bitcoin for years, why can’t 4chan/reddit carry dogecoin until it becomes hot at a time where cyrptocurrencies are popular? To be honest I haven’t seen the code, and probably wouldn’t understand it even if I looked at it, so I’ll take your word for sloppy codemanship, but what does that effect?cyrptocurrencies are commodities and does it matter if the code is sloppy, that is factored into it’s price.Maybe it will be doomed to fail, but if it does so what? and the thought that bitcoiners are driving down the prices is ridiculous, doing that wouldn’t help anyone.
much hate wow to the moon
I have to agree that this coin will not exceed its trading value of around 0.000001 btc except for a few P&Ds. With that being said, it’s a tough coin to quickly dump unless you have them all loaded on an exchange, as they want 500+ confirms before they will even credit your deposit. I’ll admit, i’m mining the crap out of this coin w/ multipool to then auto-trade immediately; gives me the opportunity to earn over 2x what mining LTC grants me atm.
Although the coin isn’t going to skyrocket in price, it does maintain some value in the fact that people are actually using it for what all crypto is designed for (Trading) since it’s in great supply. It does have a future since its abundant and cheap, I think people will continue to use it on a trading & thanks/tip-like (rather than hoarding) level.
DOGE is a fun coin that’s bringing new members into the cryptocurrency scene by the minute. Was the launch perfect? No. Will it be a bitcoin killer? No. But it’s fun nonetheless and is showing the general public that everyone can participate in this.
I don’t understand the animosity and bashing towards this coin. I think it’s a win/win and Bitcoin can really only benefit from altcoin publicity as they are the big fish.
To be honest I see it (Dogecoin) becoming a popular tipping coin on various news sites and forums. Worth enough to hold some value but not worth enough to horde.
I am buying Dogecoin. It is fun and has great potential to introduce the general public to the idea of crypto currency without being intimidating – TO THE MOON!
I’m the one buying all the dogecoin. Alec baldwin right here.
From a bitcoin user: “Hi Doges, my name is Albert. A little while ago I made a post on BitCoin that got a lot of attention…some good and some bad…but mostly good thankfully! I do not like to post on reddit very much (I prefer to read…less stressful), but this is such a nice community I thought I would say Hi and let you know why I think DogeCoin is very special and just give you some words of encouragement to keep it up!
I have known about DogeCoin for about a week now. I will be honest, at first I thought it was a joke, and not the good kind. A currency based on a cute dog? I love dogs too, but it simply did not fit my notion of what a currency should be. Currencies are serious, right? Maybe this is true, but then I remembered something more fundamental about any kind of exchange, and that is that they are based on the trust and good will of people, and in this regard DogeCoin has no match. There is a real feeling of community here; a care for others, and to top it all off, a good sense of humor and humility.
Though I do love Bitcoin, my impression is that the community has grown very cynical. Some of this is with good reason, but I think it gives the wrong impression to outsiders. It makes people believe that Bitcoin is for “other” people. People who have a lot of money, people who are well-connected. In other words, the elite. Of course this couldn’t be further from the truth, but this is slowly becoming the perception I’m afraid and it is hurting BitCoin…
On the other hand, DogeCoin is very inviting. Coins are cheap and plentiful. They are easy to mine (or dig :). The community is lighthearted and welcoming. Whatever may happen with DogeCoin, if the price goes up, goes down, or stays right where it is, the most important thing is that people keep their good nature, and let that cute dog remind them of that everytime they spend or share their coins. “
Can anyone explain the developers reasoning behind the 100 BILLION coin supply. Seems a bit ridiculous and counterproductive. Thoughts?
Doge is a coin for everybody. It is easy to mine and get some coins. It has some charm. Not everybody may like it, but you have to agree that it has more appeal than the usual coins and that it does stand out.
You see it as ridiculous, but let’s be honest…. that doesn’t matter. Look at Lady Gaga before you say otherwise.
People love this coin. And they trust this coin. And they use this coin. That is ALL that matters. It doesn’t matter if the value will rise to the moon. As long as coins exist it will certainly always have some value. And because it’s value is really low and pretty stable in it, you almost can’t make any mistake in having some dogecoin.
Putting all your savings in it is certainly not worse then putting it in other coins – although also not better.
I use it to tip people and pay charities who accept doge. Giving 10’000 Doge feels much better then giving 0.001 Bitcoin anyway
By the way, I’m one of these over 25. I’m 33. I mined most coins, but the one that feels home and good and where I finally got stuck was Doge.
If it is used, it will stay.
so controversy. many press. much comment.
to the moon bitches.
doge coin forevA
You can’t stop the Doge. . .
G old for
E veryone.. its not too late to get some now.
So, changed your opinion yet?
Nope. The fundamentals are weak. Bunch of clowns who don’t know what they’re doing in charge of developing it. This fad will pass like any other.
Who is laughing now?
So, with the new trend after the last update on this site .. what would be your current evaluation with the sudden rise that we are seeing in the interest in Dogecoins ?
Another media fueled pump not dissimilar to the last one. The price will drop, again.
When will this price drop? Whats wrong with Dogecoin?
People make money mining and trading Dogecoin. It serves a purpose, it serves a means of exchange. It can be exchanged for goods and services, it can be donated, tipped etc.
Currently I am unable to mine Bitcoin, but Dogecoin’s accessibility has allowed me to enter the market of cryptocurrencies and start mining and trading. Dogecoin has introduced new blood into the scene that livens and promotes the use of cryptocurrencies. Dogecoin is good for the exposure of cryptocurrencies and education about them.
So dogecoin is a good stepping stone for noobs to finally reach the almighty BTC? That speaks volumes as to what it’s real value is.
Well, I’ve been trading it intraday for a couple weeks, and I have already multiplied my money by 10. While there is offer and demand, it will be traded. While it is being traded, it will be alive.
Any chance we could get an update on this article? I enjoyed your analysis of NXT, but I think DOGE is worth another look.
Well since I started mining back before your initial post I’ve managed to make well over triple my investment in equipment alone (and i have a lot). sitting on over 1.2m and offloaded another 800k into btc i feel like i made the right choice jumping on this coin while it was easy to hash. This post is ridiculous, at this rate Doge has taken flight and is setting sail to the moon. I will continue to mine for doge over any other coin, the growth is insane with upwards of 800% change in a months time. There is no slowing this down, as it ranks number 5 as of today on crypto-currency — along with 61m usd market cap. And now that Doge is being seen as a threat towards other currencies it has opened the door for buyers that are willing to use USD instead of BTC. I was part of BTC in its infancy and post like this were a dime a dozen, when the price shot upwards toward 1k you never heard a word from them. You will see doge in the coming months go explosive in a lot of ways that BTC did.
Pick one. Doge has already reached a critical mass and won’t be able to support itself much longer. Right now, there’s over $1,000,000 USD worth of dogecoins being mined every day, ready to be dumped on the market. You think there’s enough new money flowing in to prop the price up for much longer? Keep dreaming.
I think that most altcoins will eventually rise following Bitcoins rise.
Its just my opinion, as long as the long-term support is there,
doge, or simular coins with eventually rise. (I’m talking 1-3 years here. Assuming the Devs stick around as well, and aren’t scammers.)
I live in Toronto Canada recently 2 Bitcoin Atms came out here, and in Vancouver. We want bitcoin to do well along side the other baby coins. I believe as more people learn about Bitcoins and realize the fact that they can be “mined,” they will also realize that it isnt profitable anymore to mine on a regular computer. Maybe they have free electricity, and are gamers, they do a bit more research and discover scrypt mining. Some will mine with their gamer video cards, some will want to invest in the coin because they see long-term potential, or short-term volitile trades, and some will buy things with the coin because they are under age, making it difficult for them to buy things without mommy or daddy knowing online .
I see a world where websites and shops alike all around the world take several cryptocurrencies. Like stores taking different credit cards. There are many different causes for each crypto coin, each with a slightly different model and logo, even if bitcoin is the originator, and most other cryptos are just copied or w/e, it was put out there for free for a reason. Bitcoin will probably be on top for years to come, who really knows where this is heading? I like some of the new coins, Like EarthCoin, RonPaulCoin, DogeCoin, I’m trying Swagcoin at the moment. Why you ask? because of the name, I would love RonPaul to be President even though I live in Canada, US laws effect me too. I would love to help People in need, Im 26 and maybe I’m immature, but I find Dogecoin halarious, Rob ford, Much Crack, So Sorry! LOL.
Swagcoin on the other hand, Im just going on the bet that humans will always want.
I mean, alot of people want to be something or someone they’re not. It is human to want to improve, be noticed, feel whole. Sad truth, but can be capitalized on. What nerdy white computer nerd doesnt want Swag when they dont get to feel they can have any swag at all? ( I’m pretty white, and can be nerdy, but I dont care for swag, just potential or name/logo.)
I mean, I only hear really ghetto people say swag, I peronally never do. Ghetto in watching rap, rapping, dissing people that make you feel inferior, dressing with your pants down to your knees because you were rapped in jail, (LOL kidding) Etc… I feel It opens a new ghetto market crowd as soon as the simplicity of purchasing goods and services from soon to come markets vendors/services etc, are available.
Maybe I am overly optimistic, but I am holding onto all of my coins for at least a year.
The truth is, nobody knows for sure where all of this is heading in price.
Survival wise, it would be difficult to stop the market production of each coin of these cryptocoins as long as the community is large enough, and the devs put their money where their mouth is.
To the Moon!
Best of luck.
No donations needed.
Well it may be a meme/joke of a coin. But so far it has progressed really well. Due to its exposure on the news over the few months, I’m willing to believe that it will only keep rising and besides the community is great! Not all those stuckup “serious” bitcoin users, no offense though. But even as a new comer to crypto currency you could see how dogecoin easily attracts new users. Yes it may have started out as a joke and hard to take seriously, but these are the things that I feel the has potential in exposing and generating interest of these coins which could drive it as they say, to the moon.
I think if there was one single thing I learned above all others in becoming Valedictorian of my Grad School cohort at a Top 5 Engineering School in thw World….it’s the ability recognize and confront the nature of my own bias.
OP clearly cannot fight his way out of a paper bag with respect to his. Earlier in the comments thread, he points to DOGE being down a lot as proof of his POV. Then it continues to crush, and he used that 800% growth as proof of his POV.
It goes down, he’s right! It goes up, and of course, he’s right!
How’s the recent crash in every coin, save DOGE, working out for ya Hazard? You’re a fucking tool bro.
My one and only prediction is that the long term value of dogecoin will trend toward 0.
You kids with your pocket change investment shouting TO THE MOON can not support a multimillion dollar valuation forever. Wake up. This coin has zero appeal to anyone over the age of 25. By nature, you’ve isolated yourself from all the people with power in the world – the people who are in the position to make a cryptocurrency go mainstream.
Money is flowing into this ecosystem like you wouldn’t believe. Difficulty of bitcoin mining necessitates finding other coins to mine and use in the ecosystem. So there is room for multiple coins that do very well.
I believe we agree on this. Or else you are hopelessly obtuse.
What we don’t agree on is whether DOGE is a potential mainstream coin. I believe it’s cutsiness belies a rather deep sensibility that people identify with. You don’t. So far I’ve been proven quite right. Over the longer term, well that remains to be seen. But I think the intermediate term is also rather clear.
How the intermediate terms blends into the long term is where questions arise. You think the LT prospects are bunk. And your reasoning is a lot like the old guy screaming “GET OFF MY LAWN.”
The reason being…your prediction in the opening line of your reply is COMPLETE BULLSHIT. I mean, in the Long Run, the Universe will eventually contract and trend towards nothingness. In the Long Run, the US will cease to exist. In the Long Run, we are all dead. Etc etc
Of course the LR value of Doge trends toward zero. Brilliant fucking prediction dude. You got a PhD from Harvard or something? Tell me more things I “don’t know”
So, basically, your one and only prediction is meaningless. And you are basing all kinds of ranting, raving, condescenscion, and the like off of a meaningless prediction.
That makes you a clueless dolt, akin to the old crotchety neighbor screaming about kids in the neighborhood stepping on your grass when playing Ghost in the Graveyard, Jailbreak, or TV Tag.
You are flawed in your assumption that “difficulty of bitcoin mining necessitates finding other coins to mine and use in the ecosystem.” More miners makes the bitcoin ecosystem stronger. Higher difficulty makes the network more secure. A strong and secure network leads to increased growth and market cap. There is no need to “spread out”. Dogecoin offers absolutely nothing over bitcoin at a fundamental level, and it’s developers are a bunch of incompetent twits. They’ve already broken several of the golden rules laid out by Satoshi.
There is room in the system for multiple cryptocurrencies, but not for one that is as generic a clone as dogecoin is. Your “killer feature” is a cute dog and comic sans ms font. It has novelty, but not lasting power. Soon, you will go the way of other failed memes, like grumpycat for instance. That is an inevitability.
90% of dogecoin supporters are 2013 kids who missed not only the bitcoin boat, but the litecoin boat as well. You’re trying so hard to become rich off this rubbish. It’s cute.
tldr; much missed boat. very greedy. so childish. such delusion.
Out of curiosity what would have to transpire for you to admit that you predictions for doge were false?
If doge were to have a marketcap larger than X after time Y? If doge were to have more transactions than any other coin or more transaction amount that any other coin?
What would it take for you to admit that your original prediction has not panned out?
You can tell that to my wallet.
HA-HA-HA-HA-HA, all the way to the bank.
Dogecoin is my life. srsly. to the moon and back and then back again!
Lol Speaking of trending to zero, hasn’t that been Bitcoin the past couple of weeks? Btw, you’re losing blog readers with your condescending tone. You also need to update your PHP… To the mooooon..
I buy and keep dogecoin because its spirit is about silliness and fun, which you couldn’t find at the all serious bitcoin and litecoin community. It’s not just about the money bro.