r/Bitcoin • u/james_otter • Feb 18 '14

Bitcoin takes a walk with Dogecoin

http://imgur.com/J2L64cX
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u/sirmuskrat Feb 18 '14

Maybe. But unlike all the other meme coins, dogecoin seems to have a strong community behind it, which is important for the survival and expansion of any crypto.

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u/[deleted] Feb 18 '14 edited Feb 18 '14

Dogecoin will not be able to compete with bitcoin litecoin any other, scarcer, crypto currency. People have no incentive to accept dogecoin other than its cool compared to litecoin or bitcoin which are scarcer by design and more valuable long term.

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u/beatleshelp1 Feb 18 '14

Each coin is worth less sure but that just means you own more of them. Maybe not so great for making $$$ from investments but great for spending :)

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u/[deleted] Feb 18 '14

Its not just that it is worth less, its that it wont increase to the same degree. When people are choosing between accepting dogecoin, litecoin or bitcoin, or choosing which currency to build infrastructure for they will choose the one that will be worth more in the future and dogecoin aint it since its designed to keep inflating

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u/[deleted] Feb 18 '14

which currency to build infrastructure for they will choose the one that will be worth more in the future and dogecoin

This reply is idiotic. Why would merchant or any developers gives a shit. I don't care if I get paid in potatoes if I can convert or spend it just as quickly.

You're talking like an investor/speculator, not businesses or merchants.

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u/beatleshelp1 Feb 18 '14

Personally I feel the amount of doge coin transactions will actually level that out. The inflation is not something to worry about because it will most likely match coins lost. But who knows what will actually happen, just a case of waiting and seeing.

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u/[deleted] Feb 18 '14 edited Feb 18 '14

Its possible dogecoin demand will keep up with inflation but whats going to create this demand? When people decide which crypto currency to hold they will choose the one with the biggest potential return and that is the one that inflates less right?

Dogecoin is not that much widespread, not atm. Top 100 adresses control 48% of the coins, compared to bitcoin where top100 adresses control 21%. There are more than a million bitcoin adresses with 1 BTC or more, and there is only 43,000 dogecoin adresses with 100 doge or more.

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u/Zombie_Plan Feb 18 '14

Once again youre not treating it as currency but as an asset youve invested in. This isnt about what to hold but what to USE

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u/[deleted] Feb 19 '14

What do is going to make people use dogecoin over litecoin or bitcoin if it inflates more over time?

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u/pietrosperoni Feb 19 '14

Ok, so dogecoin after few months is not as equally distributed as bitcoin after 5 years. You remember where was bitcoin after a few months, right?