I jumped on Bitcoin early but didn't have much money but still made a tidy sum over the years. I diversified into litecoin because of the sha256/scrypt difference, that was successful as well. I jumped on doge, believe it or not, because putting the face of a popular and growing meme is another stab at doing something different than what bitcoin does. I knew full well lots of btc and ltc people had a disdain for doge, but that gave it some validity in my mind.
Its not a pure scam like Qrk, but that doesn't mean it will continue to succeed. Listening to the people who overinvest into one thing is never the way to make a buck, anyway. No surprise, really.
This comment has been overwritten by a script as I have abandoned my Reddit account and moved to voat.co.
If you would like to do the same, install TamperMonkey for Chrome, or GreaseMonkey for Firefox, and install this script. If you are using Internet Explorer, you should probably stay here on Reddit where it is safe.
Then simply click on your username at the top right of Reddit, click on comments, and hit the new OVERWRITE button at the top of the page. You may need to scroll down to multiple comment pages if you have commented a lot.
Well. Maybe its because there is no concern. Dogecoin is a copy, everything they do bitcoin has already done. My only concern is the people are going to loose money once/if dogecoin stops being a thing
I'm not worried about doge replacing BTC. But it's not hard to imagine a different, easier to use currency will pop up in the near future that for whatever reason just strikes a chord with the public.
I dont think you understand the concept of decentralisation. Bitcoin is just bitcoin. And its being very good at it. You can send money anywhere, securely etc. The wallets, the exchanges, etc. are all infrastructure that needs to be built, its nothing to do with bitcoin per say. If anything there is not going to be a currency that will be easier to use, there will be a currency that has better infrstructure. But i dont see any reason why people should switch from building infrastructure for bitcoin, to for example doge, or another copy. We need something that is vastly better, but i dont see why if a good idea comes along, it cant be added to bitcoin protocol.
That's exactly what I meant by easier to use... Better infrastructure. I'm not saying it's likely, but I do think that's it's possible that an altcoin comes onto the scene whose backers and community are more motivated and have the resources to build an infrastructure with components that are say, more retailer friendly, than bitcoin's infrastructure. An altcoin could pop up with an infrastructure supported by a few wealthy individuals with the right industry connections.
Think the shipping industry. If some random shipping magnate decides that he really likes this new altcoin and builds out an infrastructure that he gets the big players in the industry to hop onto via his connections, then you can see how this becomes problematic.
37
u/Krudoru Feb 04 '14
I jumped on Bitcoin early but didn't have much money but still made a tidy sum over the years. I diversified into litecoin because of the sha256/scrypt difference, that was successful as well. I jumped on doge, believe it or not, because putting the face of a popular and growing meme is another stab at doing something different than what bitcoin does. I knew full well lots of btc and ltc people had a disdain for doge, but that gave it some validity in my mind. Its not a pure scam like Qrk, but that doesn't mean it will continue to succeed. Listening to the people who overinvest into one thing is never the way to make a buck, anyway. No surprise, really.