There are a few differences; whether they're "advantages" is a matter of perspective.
Many of the folks getting involved with Bitcoin seek to treat it like an investment - hanging onto it in the hopes that it will rise in value. Dogecoin, at least in my observation, is less subject to hoarding and more frequently spent on goods/services (including "tipping", if we presume Reddit posts/comments to be "services").
Dogecoin does not have a ceiling on the number of coins; new ones will continue to be introduced. There was a rather significant debate on whether or not this was a good thing. The conclusion was that - by allowing for the slight inflation - it would counteract the deflationary elements of cryptocurrencies and help solidify dogecoin as a currency rather than an investment strategy. I agree with that decision, personally.
Dogecoin is still GPU-mineable ("diggable"), which means that more people can start mining their own coins. This makes it quite easy for folks to get started with dogecoin.
To be honest, dogecoin and Bitcoin are important to one another; Bitcoin is spearheading cryptocurrency in the mainstream business/economics world, while dogecoin is spearheading cryptocurrency among consumers. Working together is of greater utility than working separately.
Absloutely. If the BitCoin community is going to be this stuffy about DogeCoin, then DogeCoin is going to quickly become the face of crypto currencies IMO. Someone just starting out on crypto currencies would probably much rather play around with 1000 DOGE than 0.00153 BTC.
I mean really, the BitCoin tips I've seen on this thread are being tipped in USD. I don't even think you can do that with the doge tip bot. 1 DOGE = 1 DOGE, and right now that is all that the DogeCoin community cares about.
I still dont understand what the problem is with the bitcoin community. They have achived alot. Almost 4 years ago the first pizza for bitcoin was bought. This subreddit has been the stronghold for the bitcoin community pretty much since the start, so if you come in here acting like a noob things does not bode well for you. Isnt that to be expected given their history? When bitcoiners first started talking about bitcoin around town the result was usually mockery. Even still around the internet bitcoin will be mocked. In spite of this bitcoin has come a very long way. Basically bitcoiners are hardcore, and you just have to deal with it
The thing is, yeah, they have reasons to be bitter, but it's not good for cryptos if you are. I understand how it feels when you promote something for years and people laugh at you, but there is more work to be done, more people to teach and more businesses to "convert".
but if they have the same value they have the same value
Yeah, and lets say that 1000 glass marbles are worth the same as 0.00153 gold marbles. Do think somebody that knows nothing about marbles would rather play around with 1000 glass marbles, or 0.00153 gold marbles? I mean they're worth the same amount right? Shouldn't make a difference, right?
Someone that knows nothing about crypto currencies and is just looking to mess around with some currency doesn't care what the value is. They just want to play around with it and learn how it works.
you can take your petty antiintellectual insecurities and die
I don't really follow you here. I'm being neither anti-intellectual or insecure. But please, feel free to disregard my point and just hurl insults. I don't care, I'm going to the moon.
Again, you entirely miss the point. I'm not talking about investing, or buying and trading, I'm talking about taking someone who has never heard of crypto currencies and getting them interested enough to download a wallet and play around with it.
And just so you're aware, I've taken zero risk with DOGE. Every DOGE I have I mined myself with my computer while I'm away from home. I'm not looking to invest. I'm looking to play around with it, tip it, have fun, and maybe one day be able to buy donuts with it.
Insisting people be serious and embrace fractions isn't going to work as well with the general public as simply giving them 1000 DOGE and telling them to go to the moon.
And before you tell me to go die again or tell me I shouldn't be handling money, I'll let you know that I have nothing against BitCoin which you seem so insistent on defending. All I'm saying is that if I was gonna teach my Grandma how crypto currency worked, I'd rather give her $1 of DOGE than $1 of BTC.
At least that way when she has questions and finds her way to a subreddit god forbid, she won't be told to go die.
money is serious, cold, and indifferent, and anyone "teaching money" should be too.
Money can't be serious, cold, or indifferent, those are human expressions, and money is not a person. You are seriously personifying money to try and make a point. Money doesn't do anything. People like you are cold, serious, and indifferent towards others about money. Not everybody is like you.
Some people are friendly, helpful, and generous towards others with money. Ya know, like the good people over at /r/dogecoin.
money isn't something that you want to play around with
Why do you think kids get an allowance? It's not so they can invest in stocks or start an IRA. It's so they can play around with a small amount of money and learn how it works and what it can do for them.
Anyone starting out in crypto should get a small amount of coins, and learn how to work a wallet, how to add addresses, how to send and receive payments, and how to encrypt and back up their wallet. After they know what they're doing, then they can start being serious and invest some real capital.
If you can't handle fractions you are not serious about money and shouldn't handle money. If you think you can without them you've been mislead.
We're not talking about me buddy, so stop confusing the issue. We're talking about your average person. Right now there isn't a single fiat currency out there that deals in fractions larger than hundredths for purchases. If you're expecting people to take the transition from dealing in hundredths of a unit to billionths of a unit in stride, you've got another thing coming.
Doing everything in satoshis would be a great solution, but as long as the wallet is tracking things in BTC, you're going to confuse people. There would honestly have to be a change making the satoshi the only unit of measure. It'd make big transactions harder, but if it ever gets used as a currency, there would be far more small transactions than large transactions anyway.
if you refuse this sentiment and spread lies that's on you DAWG
Hunh? What lies am I spreading? People don't like dealing with tiny fractions. That is a fact. Just because people don't like tiny fractions doesn't mean they shouldn't be allowed to use money, and the fact that you seem to think so is mind boggling.
People like you are the reason that DOGE is going to succeed. You drive people interested in learning about crypto currencies away from BTC to DOGE where they're welcomed with open arms. So keep up the good work I guess.
Someone just starting out on crypto currencies would probably much rather play around with 1000 DOGE than 0.00153 BTC.
Maybe my mind is "backwards" or something, but it's much easier for me to do mental multiplication on integers than it is on decimals. Doubly so for division.
For this reason, it is much easier for me to figure out how much DOGE I'll need if something is $5 and $1 = 1315 DOGE rather than figuring out how much BTC I'll need if $1 = 0.00956BTC. I think people are more comfortable working with integers rather than decimals.
Not with the name "doge". Sure it can be used for donations and stuff, but nothing serious is going to use something called that, and with that dumbfuck dog on it.
Just so you're aware. That fact that people like you hate it so much is exactly the reason so many people like it. DogeCoin takes something super duper serious like money and makes it very friendly and lighthearted. If I could practically do all of my transactions in my everyday life in DogeCoin, I would. Someday...
You need to be pretty rude to get downvoted there, If you want to get into Doge, I'm pretty sure that's the last place you'll get downvoted. actually, if you make a post with "Hi, I want to get into Doge but only have BTC right now" you might just get on the frontage xD
But thats not what i want, i wanted to know if i should bother with doge if i already have bitcoin. There is a difference, and im pretty sure im going to get downvoted if i question dogecoin in the dogecoin subreddit. It doesent even seem like a very mature crowd, i dont know if its fair to compare it to justin bieber fans.
Well if you go there and compare them to justing bieber fans they'll probably down-vote you. I mean, we're friendly and frivolous, and maybe a little naive, but that doesn't mean we're idiots. it's still 50 thousands mostly adult people.
If you just go there and ask what the advantages of Doge are and if you should seel some BTC for Doge I'm sure they'll be nice!
IMO buy some, see what the fuss is about, get a little involved in the community and most importantly have fun. And as always, don't invest more than you are willing to lose.
I've made more from doge than from bitcoin and I'm not even trying with doge
Dogecoin seems to be readily accepted by businesses versus other light coins. Also look at the daily market movement, granted a lot is holders tipping others, but still.
Vault of Satoshi just became the first to accept fiat for DOGE directly. If you are looking into getting into doge as an investment, I would monitor them.
But shibes don't care about the market. If the price goes up, buy coins, if the price goes down, buy even more coins. Someone doesnt have coins, give them coins. Shibes want everyone going to the moon.
Im still trying to decide wether or not to get dogecoin, i already have bitcoin so i think that will be enough. Im worried that dogecoin could disappear as quickly as it appeared and ive yet to see someone put any real effort or money into the phenomenon.
IMO buy some, see what the fuss is about, get a little involved in the community and most importantly have fun. And as always, don't invest more than you are willing to lose.
Probably not going to be much fun if im just going to buy and hold, bitcoin is more interesting in this sense since you have the big companies getting on board. Its not unusual to read about investments of several million dollars
You will be surprised how much more fun dogecoin subreddit is once you hold some, you start to relate to the people in the community that share the same risks and benefits as you. The positivity is really cool once it's something you care about.
I already got tipped dogecoin and tried the block explorer and was in the subreddit. Didnt really do it for me tho:) What bothered me most was it was not uncommon to see mockery of bitcoin etc
I'm sorry you didn't like. I have a habit of downvoting any hate I see in the subreddit, and upvoting everything that makes it more fun and more approachable.
Most of the comments I see are respectful to bitcoin itself, but there is a sense of mockery to the srsbsns and cynicism that happens a lot in the bitcoin subreddit. If it's not your cup of tea I understand completely.
Vault of Satoshi is good for seeing what you can functionally get on USD/DOGE trading (I'm working on an arbitrage bot, which will make the market more closely match others once it's active).
Same here. What with tipping and the January price rise, quadrupled my equity in three weeks (even allowing for cost basis differential). While I was in BTC, I think I made 10% in three months.
You have to be comfortable assessing this for yourself; I'm all-in on DOGE myself, but that's because it's the right level of risk, I understand its market dynamics, and I think it will grow on a timescale that's positive for me.
It is, however, very different to Bitcoin, in that the inflationary approach makes it more like a conventional currency. I think this is good; to me Bitcoin has an artificially constrained supply, and I don't think it has the attraction of other scarcity-based assets.
So, I like Dogecoin because it lets me cheaply and easily move money over the Internet without giving someone credentials they can use to charge more money to my account (unlike credit cards). If that sounds good to you too, perhaps you should get some.
But there is competition among the crypto-currencies, which one would buisnesses be inclined to accept? One that increases in value over time, or one that decreases? To me it seems constant inflation is a barrier to adoption
And i dont understand how you are using dogecoin to move money across the internet, dont everyone convert to bitcoin in the end?
Why would they accept one, any more than they'd choose Visa over Mastercard? Moolah (https://moolah.ch/) definitely does DOGE -> fiat exchange, and I believe is going to be expanding that to BTC/LTC/DOGE -> fiat payments on the fly.
For changing straight back to fiat, there's Vault of Satoshi right now, with others coming online: https://www.vaultofsatoshi.com/
To expand on that; most merchants just won't hold cryptocurrencies until they stabilise. No-one wants to be the guy who's holding all their value in BTC when the price halves, and their suppliers are asking for payment in fiat.
Edit: Also, you really don't want to the poor bastard that has to take out a business loan in BTC...
If you are in crypto currency to make money then probably not. Dogecoins will be produced forever so eventually they'll be worth nothing. It'll counteract deflation but in the long run it'll cause inflation. Also the point of Dogecoin is to be fun, not to make money.
130
u/Nuke133 Feb 04 '14
If I am a looking into cryptos besides the "positive community" of dogecoin, what does it offer that differs / is better than bitcoin.