Dogecoin Went To The Moon, But Didn't Bring Enough Toilet Paper - So Had To Rush Back!
From a market cap of over $400 Million (USD) to nearly zero in less than 6 months! That's an impressive nosedive for a cryptocoin - What's up with DogeCoin?
Dogecoin is a cryptocurrency apparently created partially as a joke originally and which was based on Luckycoin which itself was based on Litecoin. According to wikipedia:
By January 2014, the trading volume of Dogecoin briefly surpassed that of bitcoin[35] and all other crypto-currencies combined.
But as of today, despite Dogecoin hitting an all time high just several months ago - it is now at more or less an all time low! That's kind of like Bitcoin being devalued to next to nothing (albeit on a smaller scale)!
The Subreddit for Dogecoin still has active visitors, generally wondering about whether or not to continue using Dogecoin as many of the services that once thrived are no longer active and obviously the huge drop in value has left a significantly lower level of interest in it in general.
Just for fun, I have bought about $40 USD worth of dogecoin, if it recovers, I could make a 500%+ 'profit' - but I think in reality there is more chance of me having success by launching an SMT called SadCatCoin :)
:)
Wishing you well,
Ura Soul
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i use dogecoin coz of its small fees and hope it will not go into oblivion
do you know how the fees compare to litecoin?
sorry no i dont use litecoin, havent seen smaller fees than dogecoin fees but i dont use so many coins so i could be wrong
one mining site that i use takes 0.002ltc per transaction for ltc transactions and takes 1 doge per transaction for doge transactions and 1 doge is next to nothing
ah ok - i'm not sure how to check the fees for the different coins easily - i just know that litecoin is cheaper than bitcoin and dogecoin had it's early origins in litecoin.
You have a lot of awesome posts, but this is by far one of your best ones man. I needed this one today! Thanks
hehe - thanks - you are welcome!
I honestly wanted to buy Dogecoin just so I could say I have some. Other than that, I don't really see Doge lasting for a long time
When I first found crypto, Dogecoin was the only alt coin I had alongside bitcoin. I only got it because the friend who introduced me to crypto to do early dev on Dogecoin
Luckily I only bought $10 worth so no big deal. Alas I believe the friend still has quite large holdings of Dogecoin.
I love Doge because it's fast with very minimal fees. I wish other cryptos would be like it.
Since Dog is based on Litecoin, I wondered how similar the transaction fees are, but I have no data on that - do you know?
The minimum fee is 1 DOGE ! I experimented many times with 1 to 5 DOGE for the fee, and the speed of transaction was always the same, 1-2 minutes.
Currently 1 DOGE = $0.001395, it's really nothing!
i see ok, thanks! so it's actually a good system for value transfer.. unfortunately, it's not supported by uphold.com which is the site i currently use as an intermediary between crypto world and fiat world!
The problem with Dog - ecoin is that there is an unlimited supply which vastly devalues it , otherwise it would be great , I really like bytecoin but it seems bytecoin also goes up in value and then bombs , now neither of these factors would put me off using them but holding them for investing is anther deal altogether . Valerrik Buterins very infortunate comments of late also make ETH problematic and Bitcoin has some nasty federal reserve satanists associated with it , Bitcoin cash went dead after the weekend and LISK is DPOS ... Im stuck are there actually any cool coins out there (steem was commandeered by the CIA )
What is the evidence that steem was commandeered by the CIA?