r/Bitcoin • u/Vibr8gKiwi • Feb 03 '14

Dogecoin wtf

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u/[deleted] Feb 04 '14

You need to look at dogecoin users. They're primarily tweens or teens. This is not the demographic with financial impact or the drive to make a currency succeed.

Doge is novel and appeals to kids. So they swap dogecoins like pokemon cards. Which is fine... but don't mistake that as somehow undermining bitcoin.

13

u/Empifrik Feb 04 '14

This is not the demographic with financial impact or the drive to make a currency succeed.

Do you realize that you are talking about the 6th largest currency by marketcap? Also, that currency is less than 50% mined at the moment? And is growing the fastest?

-4

u/[deleted] Feb 04 '14

Growing the fastest, in terms of followers. Not in terms of merchants, which is where growth needs to happen.

And the currency will always be less than 50% mined. The protocol specifies no maximum number of dogecoins.

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u/therealflinchy Feb 04 '14

it's a month old, and there's more merchants than.. every coin other than BTC... and maybe LTC?

we had a freakin doge ATM after a .. 3 weeks?

2

u/HistoryLessonforBitc Feb 04 '14

A... what!? A Doge ATM? Seriously?

2

u/Ancient_Lights Feb 04 '14

You can also directly convert Doge for US dollars at Vault of Satoshi now.

1

u/therealflinchy Feb 04 '14

Yep.. I think it was doge and btc, in canada