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reitzensteinm 181 days ago | link | parent

Here's one that I'm sure I'm going to regret saying publicly later. But, here goes:

Dogecoin will outperform Bitcoin in terms of percentage market cap growth in 2014. Even if both are negative.



seabee 181 days ago | link

You have to be really bearish on Bitcoin to think that a practically-identical joke currency will do better than something attracting venture capital. Nobody would trust a lolcat with their money much less a shibe.

Of course, if I'm wrong then I will definitely say 'wow'; also, 'so fail' and 'much humble pie'.

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reitzensteinm 181 days ago | link

>Nobody would trust a lolcat with their money much less a shibe.

Don't get me wrong; I'm not saying Dogecoin will pivot into a serious currency. I'm talking strictly relative growth here, and BTC is currently over 1000x bigger.

I think it'll become a defacto tipping currency of the net, and there's plenty of room for the market cap to grow to support just that niche, if it goes relatively mainstream.

As far as VC money goes, the infrastructure that's being built will likely not remain Bitcoin exclusive, so I see it more as a rising tide lifting all boats.

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d0ugie 181 days ago | link

Speaking of dogecoin, I want to pick up some dogecoin without any bitcoin on hand to trade and without elevating my risk to fraud any more than necessary. I realize there are forums and presumably faqs, possibly "the same way you'd pick up bitcoin," but what is the HN prescription to go about doing this? Given that it's relatively nascent, low turnover, goofy and so forth, I'm apprehensive when hearing "very coinbase, wow" elsewhere.

I also realize I should find something else to do, but... I love that friggin' dog.

Tl;dr this article neglects to mention the viability of dogecoin on 2014 due to idiots like me. It appears I'm not the only one..

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iSnow 181 days ago | link

Even with only a Core i5 CPU, you can use cpuminer to create some yourself.

For small amounts, you could go to http://www.reddit.com/r/dogemarket, the fraud risk is not very high there. In the US, there's https://www.altquick.co/. Other than that, you need BTC/LTC first then trade on cryptsy.

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aestra 181 days ago | link

Anyone selling dogecoin for Paypal is stupid, those tranactions can easily be reversed.

>you can use cpuminer to create some yourself.

Depends on how many you want, the dogecoin difficulty has really gone through the roof lately, and you are much much better off with a GPU. The Kh/s rating on most GPUs is much better.

https://litecoin.info/Mining_hardware_comparison

www.coinwarz.com/calculators/dogecoin-mining-calculator/

The best Corei5 is going to get you about 1358 doge a day, with sounds like a lot, but it is a tiny number, 41 cents. Plus, the mining calculators are way way off. They always overestimate for me.

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yebyen 181 days ago | link

Is this an auto-updating string? I hope not!

"Over 3 LTC sold and 1 customers served to date!"

If you buy 1BTC from one of the established channels that you know, you can have a practically limitless supply of altcoins at cryptsy.com. That is assuming, you don't want more than 1BTC worth.

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parkaboy 181 days ago | link

I got mine off of coins-e a couple of days ago without any issues. I heard if anything messes up, their customer service is pretty much non-exist, however. Apparently they went off a forked chain last week and I'm not sure if everyone recovered their funds from the mess.

But like others said - you can mine it with a normal (CPU/graphics card) hardware at the moment...

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dsjquared123 181 days ago | link

options:

1.)cpu mine; i5 CPU gets about 60~80kh/s, which translates to around the same number of coincs per hour

2.)midrange gpus will get you a few hundred kh/s (e.g. my old ati 5770 gets around 150~200kh/s, without too much tweaking)

and assuming you don't want to do any mining at all:

3.)on reddit dogemarket, people are selling through paypal gifts etc in various amounts as small as a few dollars worth at a time, which is relatively low risk. of course, buyer beware and take a look at the community guidelines/suggestions for security.

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dpape39 181 days ago | link

Post a dogecoin adress and I'll donate Ð5,000.

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Ryshibe 172 days ago | link

DEhTFJ8faDZoGNs3AyYoeaAaEcfZrMzxNj

in b4 it's too late, perhaps? much kindness, very please, so hug, many thanks.

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easye89 172 days ago | link

DBLHpRcLuKM5Co4UB7HYXwK9acKif7pnWY give it a shot. Thanks for giving in advance

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mclemme 181 days ago | link

Here's to hoping :) DQtb7RvPtZp1qxmvwuGEMXUHqEz1fRBBLw

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mclemme 180 days ago | link

much thanks, very generous, wow :)

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orkoden 181 days ago | link

D5aan7bFi3axrSBe2AzwWo7sSGsTdFM9KL

such generosity. wow.

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moldabekov 181 days ago | link

DHHctvbHCKG9skhFtsdjHPiRzYdqxDvpFG

Thank you much!

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dpape39 181 days ago | link

Actually wanted to gift it to d0ugie, but eh... I guess I'll be generous today. d0ugie you can still post an adress.

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thefugginlegend 180 days ago | link

DG2bdBDZZFYQUcg8ZqQB3V2RaMpHfVYdWj

Because moon.

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badillin 180 days ago | link

DKjjeSBmD2UCNL5PJYvCsShzLzgXnqHsTU

many thanks

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cindereynolds 180 days ago | link

DACkhrsCaCiE7mWmDyvReEw8GNniJTsTCQ

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noelrojo 180 days ago | link

DCbXyRQ9P2Xh3MidgawgTe897FfAButDTB

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irodov 180 days ago | link

DBML49dCrFF9ku8L4EgjGUcp54FpuNVSMC

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lhuwux 181 days ago | link

DAd5urH4z4S49gUTnUaSJYr3HDvdjDJVsk thx

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lhuwux 181 days ago | link

DAd5urH4z4S49gUTnUaSJYr3HDvdjDJVsk

thanks

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hurrikaneditka 181 days ago | link

D8umPwdyoqGK7QL8TrYfX3dkBNgeG7gHUk

EDIT: Thanks :)

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digi760 181 days ago | link

D9tzZCNM76kGQZ4wDJunVqx1W3w6DAUMkt

Poor Shibe giving it a shot.

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DanBC 181 days ago | link

What does "percentage market cap growth" mean? (Is there a glossary of financial for beginners that anyone can recommend?)

If dogecoin takes off on Reddit and 4Chan as a way of showing appreciation I can see it having many users.

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reitzensteinm 181 days ago | link

Market cap is a term borrowed from the share market[1]. I don't think it's technically correct applied to BTC but it commonly is.

Market cap growth as a percentage just means, if all BTCs in circulation are worth $10bn today, and $15bn tomorrow, then the market cap has grown by 50%.

I didn't use the price of the coins themselves as BTC is being minted more slowly than DOGE.

[1] http://en.wikipedia.org/wiki/Market_capitalization

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TomGullen 181 days ago | link

"Total dollar value" is the correct terminology for currencies

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paromi 181 days ago | link

you can check the market cap for bitcoin and dogecoin here : http://coinmarketcap.com/ dogecoin is at 8 mil for now , bitcoin at 10 bil.

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paromi 181 days ago | link

I think this is true. Dogecoin is still at the begin and it has much room to grow, bitcoin already had its share of growth.

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simondlr 181 days ago | link

Dogecoin's transaction volume has been higher than Bitcoin for the past few days: http://bitinfocharts.com/comparison/transactions-btc-doge.ht.... Of course, Bitcoin doesn't take into account off-chain transactions, which at this stage is probably higher than Dogecoin's. The high tx volume is most likely due to all the tipping happening with it.

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ollysb 181 days ago | link

I was under the impression that all bitcoin transactions were on-chain. How do off-chain transactions work?

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aninhumer 181 days ago | link

A single account holds bitcoin for a group of people, and keeps track of individual balances internally. Externally, all the network sees are deposits and withdrawls.

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mithras 181 days ago | link

All transactions on/within exchanges are off chain.

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unasimple 181 days ago | link

Within reddit and now twitter there are easily now also thousands of off-chain transactions through the use of doge tipbots.

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berkes 181 days ago | link

History has shown that there are a lot of "greedy", but dumb people. A fantastic example comes to mind: In the Netherlands we have a saying "to sell fried air" (Gebakken lucht verkopen) to explain someone selling bullshit.

Yet, in the "dotcom"-hype, there was a Dutch company selling shares for their startup, "f/ried air" and people got in line to buy these shares.

http://www.museumofhoaxes.com/hoax/af_database/permalink/ipo...

There will be people buying into Dogecoin, simply because they are greedy and see profit, and choose to ignore the signs that it is a clear Pun.

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philipDS 181 days ago | link

Fried air or not. It's being used by a lot of people on Reddit now to give and receive tips. Every day new merchants start accepting Dogecoin. It's excellent to accept micropayments!

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xguest 181 days ago | link

Around 200 addresses own 40% of all doge:

http://bitinfocharts.com/top-100-richest-dogecoin-addresses....

Somebody is making a lot of money on this.

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dpiers 180 days ago | link

It's a nascent currency, it's natural for a smaller amount of people to get in early.

I think the more interesting statistic is that, not accounting for addresses for nil/near 0 balance, more than half of all DOGE owners have more than 100 coins. That's more than enough to go around tipping DOGE online.

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therobot24 181 days ago | link

major difference between the two is that bitcoin is frustrating and difficult, while dogecoin is fun

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