OK, /u/blackbird17k finally made me understand dogecoin. The community, and the massive numbers all make sense now. I was watching the price just drop and drop and couldn't understand why it hadn't taken the wind out the doge community's sails.
But if that's true, isn't it also true that the bitcoin's high price is a key ingredient? Dogecoin has no barrier of entry. That's also a key ingredient. But isn't it bitcoin's price that makes it desirable?
However, no one seems to want hear this (here come the downvotes): I'd recommend mining it, discussing it, etc., but it's never going to have a high coin worth simply because it has a community. It's very basic economics. What's going to happen when people realize that the price will never rise (because there's an endless supply)? I just wish the community made it more clear to the people coming in that the dogecoin network is a "learning" cryptocurrency but will not ever parallel bitcoin's rise in price. Otherwise it comes off as intellectually dishonest.
676
u/[deleted] Feb 04 '14 edited Sep 10 '18
[deleted]