The signal to buy was when Dogecoin volume doubled Bitcoin volume. You had a couple days before the world realized how underpriced Doge was. Doge was around 45-50 Satoshis then.
Funding the Jamaican bobsled team, and tapping into Cool Runnings millenial nostalgia was a great PR move by the Doge community.
The recent price correction is probably due to mining pools jumping in when profitability soared before difficulty adjusted.
The Doge community has a saying "To the moon!". Moon being defined by many as $1 per coin.
Edit:
Watch the video at http://howtodoge.com to get a feel for the community effort to go "to the moon!"
That site takes its Doge price from http://www.cryptocoincharts.info/#jump-doge-btc (and seems to underquote it too) and the Bitcoin price is taken from bitcoinaverage. Anyhow, this a great first effort. I'd use it to tweet out on @dogeprice as I am doing already with @btcprice. This is a really hot market at present. It's also full of opportunities. Dig in Shibes.
This is amazing. This page should just be the top link on any Bitcoin discussion: "Guys, guys, guys, I'm feeling really bullish on Sexcoin. Does anyone have the Winklevoss' phone number?"
I don't mean to be critical, and maybe I'm missing a UI element, but charts that cannot be scaled on the X axis (i.e. select a timeframe) are not very useful.
Mm. I've followed the example of Bitcoin Average in this instance, who have a fixed 24h chart on the homepage. The backend can already cope with pulling data for a chart that's wider (or indeed, shorter) in timescale, so that may change when I've collated more data.
Hi, does the JSON offer a straight global average (rather than individually by market) and then ideally a USD conversion from bitcoinaverage (that site is open-sourced if you didn't know - but integrations need to built per exchange.) You may want to open this one too.
I ended up using a background image I originally designed to promote cryptos and litecoin, but tweaked it to appeal to 15 yr olds and dogecoin. http://imgur.com/gallery/XpwIWM0
"Hey grandpaw, what kind of dog did you have?", David inquired, his eyes pointing to the gilded picture above the fireplace. At the bottom of the ornate frame was an out of place comic sans font that read "to the moon". Grandpaw reached for his glasses. Looking closer, David noticed the background of the painting was filled with smaller phrases. "such amaze" read one of the vague, but positive half thoughts--another was simply "wow". David recalled this was same way his parents talked to grandpaw, as it if was some dialect of a bygone era.
Finally fixing his spectacles, Grandpaw mustered, "Oh, I never had a dog...". While turning gingerly in his favorite green chair to face the painting, his eyes raised in kind remembrance. "That's a _doge_, my child.", he proclaimed, with emphasis on the peculiar pronunciation. "That's how grandpa made his millions."
Wow this thread was severely punished. Rank #34 with 56 upvotes and posted 2h ago. There is another post on the front page with 37 upvotes posted 2h ago on rank #5. Wow. So punishment. Very algorithmci downwotes.
Yes, the big question is whether currency has such a strong network effect that one will dominate. Hayek argued the opposite, and wrote a book claiming that a system of competing private currencies would be ideal.
There are also a few technical arguments in favor of multiple currencies. At the moment we don't know how to scale a single blockchain to major-currency levels, unless we do mostly off-chain transactions. And with appropriate software, accepting lots of currencies doesn't have to be harder for a merchant than accepting one. There's also some work on cross-chain currency trading without a trusted intermediary.
That's how I felt about Dogecoin at first, but their silliness seems to have generated an unusually nice community. I'm starting to think that's a more important factor than I'd realized. It's taken them to #7 in market cap, despite being technically a straight copy of Litecoin. http://coinmarketcap.com/
The community, and particularly the generosity of tipping, seems to have been a driving factor. There are already multiple "tipping bots" on Twitter, which will give out Doge on command.
There's speculation that a similar functionality for Facebook would be like strapping SRB's to the side of the Doge moonrocket, and give it Much Velocity.
You mention the generosity (which I agree with), but also the act of online tipping is a use case that crypto-currencies handle substantially better than me putting a dollar bill in a paper envelope and mailing it or paying a 25 cent transaction fee to tip 10 cents.
Yup. Reddit had bitcoin tipping functionality back when bitcoins were a buck or two. Getting tipped a quarter convinced me to figure out this cryptocurrency thing. Taking that mechanism outside of the Reddit sandbox is a big help.
And yeah, I spent my quarter-BTC on Humble Bundles. Oops.
We'll see how long this lasts if Dogecoins become worth a lot more. BTC used to be like this, too, with many "Bitcoin faucets" dispensing coins at will just for entering an address.
>That's how I felt about Dogecoin at first, but their silliness seems to have generated an unusually nice community.
It's so true! When people post really basic or dumb questions they could have googled in twos seconds, or show that absolutely no idea what is going on, people in the doge threads or on the reddit don't act like jerks. They just help the person and then joke with them. It really does feel like something different than other crypto currency communities!
Dogecoin was probably the 200th altcoin released so far... we still have a long way to go. Check out this list for some of the larger ones: http://coinmarketcap.com
Take all the numbers listed there with a grain of salt, though.
Is there an index fund I can buy that tracks (probably just non-BTC) crypto currencies by market share? In other words, I'd like to own a basket of crypto currencies that reflects the market's weighting.
Honestly your best bet for this is bitcoin since almost every other crypto currency measures itself against BTC instead of USD, BTC is sort of a gateway crypto currency.
I think you've come to the wrong conclusion. Doge might be a funny name, but the crypto is real and so is its trade value against bitcoin. What we're seeing here is that Satoshi's idea is so valuable that it empowers a community to arbitrarily construct a functioning decentralized financial platform, even as a joke.
We're just touching the surface of what cryptocoins are going to mean in the future.
I'm with you. Every dogecoin related thread is full of content-free comments like "such X" and "wow". I do my part to down vote all of them. It's about as funny and clever as a rick-roll at this point.
And yet every day HN is filled with people talking about the things that they like to talk about, and having a nice time doing so, all in their own little space here on this site. For the most part, users like to keep this place intelligent and spam-free.
Want to spam Doge-related comments? I can only imagine that that is what /r/Dogecoin is for. Why bring it here?
My comment does technically have correct grammar and stand on its own as a valid criticism of your comment, which to me is what makes it especially funny. Everybody posting "wow" as a response to you... not so much.
First off: deleted_account is not my username, you were not responding to my comment.
Second: The sentence "I am." technically has correct grammar, but doesn't serve the benefit of anybody reading HN. As does this recently similar comment with many downvotes: https://news.ycombinator.com/item?id=7104994
You should have just hit the downvote or flag button if you thought that OPs comment was truly cynical.
How exactly was deleted_account being cynical anyways by asking the question "Can we officially declare that crypto-currencies have jumped the shark?"?
I do not think you understand the meaning of the word "cynicism" or what it is "to be cynical".
True, good point. Still, I'm not sure it's a net benefit to kick off a sizable subtree debating the merits of a two-word comment. It might be considered an investment in future comment quality, but downvoting all the meme comments that we are able to is probably as effective.
Personally, as long as it's restricted to articles about dogecoin I don't find it annoying, though I wouldn't want it to spread. Clearly your mileage varies.
Don't forget Coinye! "Coinye, formerly Coinye West, is a Scrypt-based cryptocurrency that used the American hip hop artist, Kanye West as its mascot"[1]
Coinye's naked worship of celebrity is simply gauche. The irony only makes it worse.
Dogecoin on the other hand... wow.
I for one am looking forward to the 2050s, when china installs the doge as the world reserve currency, and all our paper money is written in rainbow-coloured comic sans.
Funding the Jamaican bobsled team, and tapping into Cool Runnings millenial nostalgia was a great PR move by the Doge community.
The recent price correction is probably due to mining pools jumping in when profitability soared before difficulty adjusted.
The Doge community has a saying "To the moon!". Moon being defined by many as $1 per coin.
Edit:
Watch the video at http://howtodoge.com to get a feel for the community effort to go "to the moon!"