Dogecoins

• Ashikoki wrote on 2014-02-27 20:35

  Quote from Aubog007;1202516:

  So that's where you were, mining coins.

  
  
  Stopped mining at 300 difficulty, which was about 2 weeks in to release. So no.
• Odin wrote on 2014-02-27 23:40
  Amusingly enough I am still mining doge, but only with equipment that is already running for other tasks in order to economize the power bill.
  
  My miner is currently working mooncoin instead, in the hopes that it rebounds nicely and turns a good profit.
  
  Doge's market actively goes up and down over the course of a few weeks- the highest to date was 280 satoshi, followed by a fallback to 170 that it is again rising up from.
  
  I've been trading it and turning a profit- most of the time anyway, which helps offset the limited gains I get from mining.
• Yoorah wrote on 2014-03-01 03:42
  I feel bad for those who had BTC/money in Mt. Gox. :(
• Osayidan wrote on 2014-03-01 04:25

  Quote from Yoorah;1203024:

  I feel bad for those who had BTC/money in Mt. Gox. :(

  
  
  friend of mine lost 60k :(
  All earned from early (2011-ish) mining and trading, so no loss of investment. But still, 60k.
  
  

  [Image: http://i.imgur.com/tuSUo5f.png]
• Ashikoki wrote on 2014-03-01 05:46

  Quote from Osayidan;1203027:

  friend of mine lost 60k :(
  All earned from early (2011-ish) mining and trading, so no loss of investment. But still, 60k.
  
  

  [Image: http://i.imgur.com/tuSUo5f.png]

  
  
  Lesson to be learned: keep your coins in cold storage in a wallet, not in an exchange.
• Campylobacter jejuni wrote on 2014-03-01 07:39
  That's what happens when you don't sell high.
  [video=youtube;uzTviAdBLp8]http://www.youtube.com/watch?v=uzTviAdBLp8[/video]
• Ashikoki wrote on 2014-03-01 09:03

  Quote from Campylobacter jejuni;1203059:

  That's what happens when you don't sell high.

  
  
  You could've sold "high", whatever that is. Mt.Gox still wouldn't have given you the dollars. It's the specific exchange.
  
  We've been rotating between 1000 to 500 very frequently over the past few months, so it is pretty hard to call it. People who bought at 10 cents a coin thought that last year's 70 dollars a coin made them absurdly rich, and called it the death of bitcoins when it crashed to 45 dollars each. It all seems silly now that we're repeating it with a range of 1200 to 400 the past few months.
  
  I bought in at 680, and wondered if I should sell out at 900. The correct answer is yes, since we're down to 560 right now, but these fluctuations happen so much that it is a very safe bet to assume we'll get to 900 or higher in a week or two again. But then if I sold, and it went to 2000 dollars the next month, I'd be pretty sad.
  
  Bitcoins are not something you want to attempt buying high or selling low. They're not stocks, they're a digital currency. It's too unpredictable. You could venture into minor profits daytrading, but most people don't have the capital or time.
• Campylobacter jejuni wrote on 2014-03-01 15:57
  Oh well, should've read the news instead of going from the comments.
  

  Quote from Ashikoki;1203075:

  Bitcoins are not something you want to attempt buying high or selling low. They're not stocks, they're a digital currency. It's too unpredictable. You could venture into minor profits daytrading, but most people don't have the capital or time.

  
  Well, what do people do with it other than speculation? Isn't that the only really practical application, unless you want to indulge in illegal economical activities?
  
  I wouldn't want to use a "currency" that deflates and inflates by a factor of two or three on a monthly basis.
• Odin wrote on 2014-03-01 17:52

  Quote from Campylobacter jejuni;1203125:

  Oh well, should've read the news instead of going from the comments.
  
  Well, what do people do with it other than speculation? Isn't that the only really practical application, unless you want to indulge in illegal economical activities?
  
  I wouldn't want to use a "currency" that deflates and inflates by a factor of two or three on a monthly basis.

  
  
  They aren't only used for illegal activity. There are now legitimate online stores that accept bitcoin and other cryptocurrencies. Some service providers do too for games and online services like web hosting.
  
  Although bitcoin was indeed originally popular for its anonymity when making online purchases, that hasn't stopped other markets for appearing around it.
  
  Dogecoin as well, despite still being an emerging coin more and more early adopters are discovered every day.
  
  Also, tipping platform. If someone makes a helpful or amusing comment on a chatroom or website, you can tip them a small amount of doge or even btc for it. Little bits add up if people do it often enough- I've probably gotten around 5000 doge now from IRC tips in the dogecoin channels, and given back about half of that in tipping other people. Which is what a currency is meant to do- circulate between people.
• Ashikoki wrote on 2014-03-01 20:27

  Quote from Campylobacter jejuni;1203125:

  I wouldn't want to use a "currency"

  
  
  That's exactly what it's used for.
  
  In fact, the price of bitcoin couldn't rise if it wasn't being actively used. Demand creates that surge in value.
  
  Thousands of businesses currently accept bitcoins as a form of payment. Even big retail stores.
• Aubog007 wrote on 2014-03-02 03:55

  Quote from Ashikoki;1203179:

  That's exactly what it's used for.
  
  In fact, the price of bitcoin couldn't rise if it wasn't being actively used. Demand creates that surge in value.
  
  Thousands of businesses currently accept bitcoins as a form of payment. Even big retail stores.

  
  
  None that i use apparently...
  It's not common knowledge enough for it to be safe enough for me to use.
  As soon as i get a better response than what a rupee is from people, is when i personally have trust in this currency.
• Ashikoki wrote on 2014-03-02 10:25
  I don't know what's not to "trust". If you're using it for transactions only, then it is significantly safer than using a credit card. The protocol is fairly solid and I can't personally think of any ways to improve on it.
  
  The next time you want to buy something online, look it up on overstock.com or tigerdirect.com and see if they carry it. Then go buy like 20 dollars worth of bitcoins from a dedicated site or exchange and try making a purchase. Voila, simple as that. You'll find lots of retail items on overstock that is cheaper than most other stores. Tigerdirect is a bit more pricey, but there's been a lot of hints dropped by Newegg that they'll start accepting bitcoins soon too.
  
  While they do offer some neat bitcoin transaction only deals, the benefits of using bitcoin in a transaction is far more evident for the merchants than the buyers in this scenario. They receive the money instantly, and don't pay massive credit card fees. On the flip side, you can trust the business to not accidentally lose your credit card information in a hack, like Target did last month. Great job everyone, you've invented a system of payment that doesn't literally give merchants the key to your bank account and hope they don't abuse it or accidentally let it get stolen.
  
  In all logical sense bitcoin is a clear step forward in money. If not the coin itself, at least the technology and the protocol behind it. Avoid 3rd party fees, make instant payments across the globe, be in charge of your own security, all of the goodies.
  
  Edit: Alternatively you could buy 20000 dogecoins with that 20 dollars. Wow, many zeros, such rich, to the moon. There aren't too many places you can spend dogecoins though.
  
  Edit edit: Speaking of Target, if you've used your credit card at Target lately at all, you should probably get a new card. It's been confirmed that the card numbers are being sold off.
• Yoorah wrote on 2015-01-14 20:19
  Oh look, a lot of people got screwed again.
  
  

  [Image: http://i.imgur.com/UHtJcws.png]

  
  
  Bitcoin: Best investment. I should buy some. \o/
• Splatulated wrote on 2015-01-14 22:17
  mining for money ??? i dont get it
• Odin wrote on 2015-01-14 23:36
  Most of the hype about bitcoin was actually the handiwork of the very money people that bitcoin was invented to get away from.
  
  They proceeded to abuse the living daylight out of the newborn and totally unregulated markets to spring up around it.
  
  In the end it is getting the same treatment as a cheap penny stock.
  
  At the same time though, people have heard of it and what it can offer. Even though the price is going back down to much more normal levels, people still have and use it. It actually can do stuff, and be what it was meant to now that it isn't being hoarded like gold.
  
  I don't think we are even close to having seen the end of it.
  
  As for dogecoin, it too still trades regular volume, and I am pretty consistently making 5-10% per trading cycle with each cycle taking anywhere from a few hours to several days to be filled by the market.