Dogecoin falling like a rock!

[TreasureHunter]

Over 30 % loss during the last 3-4 days.

Down from 0.0016 $ to 0.0011 $. :/

Market cap down from 60 billion $ to 49.5 billion $

 

[Jimmy1986]

Yep, result of not capping the coins at 100 Billion like expected.

I'm out of Dogecoin now except for a few stashed away just in case. Got out as soon as I heard the news.

Seems stupid leaving it open ended and goes against my personal crypto philosophy.

RIP Dogecoin :-(

 

[TreasureHunter]

Yep, result of not capping the coins at 100 Billion like expected.

I'm out of Dogecoin now except for a few stashed away just in case. Got out as soon as I heard the news.

Seems stupid leaving it open ended and goes against my personal crypto philosophy.

RIP Dogecoin :-(

Ah, come on... you got out? It's still the beginning phase. In my opinion. The prices barely started moving since its launch.
You are right about the mistake of leaving it open ended.

But 100 billion coins is way too much! 1 billion could have been enough. Then the price could easier hit 1-5 $, even.

Market cap just dropped to 48.7 million $. And it seems like it's going even lower...

 

[Jimmy1986]

Yep, result of not capping the coins at 100 Billion like expected.

I'm out of Dogecoin now except for a few stashed away just in case. Got out as soon as I heard the news.

Seems stupid leaving it open ended and goes against my personal crypto philosophy.

RIP Dogecoin :-(

Ah, come on... you got out? It's still the beginning phase. In my opinion. The prices barely started moving since its launch.
You are right about the mistake of leaving it open ended.

But 100 billion coins is way too much! 1 billion could have been enough. Then the price could easier hit 1-5 $, even.

Market cap just dropped to 48.7 million $. And it seems like it's going even lower...

yep, sad I know haha.

But at least I pulled a few Btc profit out before the fall, as I said I've still got some stashed away just in case but at the end of the day I'm trying to increase my Btc holdings as I believe we may see $10k by years end

 

[TreasureHunter]

holdings as I believe we may see $10k by years end

Come on, 10 k per BTC?

It was already 1 k and corrected back. It's trading sideways. I think it's more likely to go down.

BTC may go up in 1-2-3 years time. But that's what everyone here said about gold before I joined SilverStackers :lol:

If Palmer would be smart, he could come up with something about Dogecoin. It's too thin, too inflated.
He basically gave the World a hyperinflated crypto. Overdone from the start.
Could he "do something" and stop DOGE go over the 50 billion count? I'm not sure if the system allows that. It may already be too late, it's been built into the dog's DNA

 

[RetardedMonkey]

I got out of any DOGE once I read that stuff about endless generation of coins...

Means a constant dilution of price essentially.

 

[markcoinoz]

I wouldn't write them off yet.

Might dip for a little while, but they will be back up again.
Good Marketing - Good Community

Will be interesting to see if Quarkcoin can move up again given all their coins
have already been used up. With Cryptos, I don't see the Supply/Demand
model working at all. Its only a short term burst.
Doge on the other hand has the most important ingredient.
Marketing.

Get that right and should do very well.
Adding 5.2bln Coins a year shouldn't hurt them much, plus keeps the miners happy.

 

[dozerz]

i at least would have waited for the winter olympics before writing it off.

 

[Jimmy1986]

holdings as I believe we may see $10k by years end

Come on, 10 k per BTC?

It was already 1 k and corrected back. It's trading sideways. I think it's more likely to go down.

BTC may go up in 1-2-3 years time. But that's what everyone here said about gold before I joined SilverStackers :lol:

If Palmer would be smart, he could come up with something about Dogecoin. It's too thin, too inflated.
He basically gave the World a hyperinflated crypto. Overdone from the start.
Could he "do something" and stop DOGE go over the 50 billion count? I'm not sure if the system allows that. It may already be too late, it's been built into the dog's DNA

What is happening now seems just like what happened in early 2013 big price rise followed by correction and then trade sideways for a while and them bang massive increase again.

Once regulations are sorted out in the US institutional investors, hedge funds etc will want a piece of the Bitcoin pie and allot of money should flow to Bitcoin.

To see 10K Bitcoin by years end it will require another $90 Billion added to the marked cap and i believe once the big players get involved this could happen quickly.

Just look at all the infrastructure being built around Bitcoin this past year, it's gaining legitimacy and is proving itself as solid, with most of the alt coins being for short term speculation Bitcoin is looking more stable and mature.

Who knows what will happen? But I believe it could

 

[trew]

But silversale says bitcoin is going down - and he's right 80% of the time

 

[Golightly]

Yeah it's cactus, the devs aren't dealing with it well either.. made a bone up in the code...
The community will keep it alive to a degree, just without the value.. still expect to see it as a pump and dump coin though

 

[Phiber]

This comment is not so much about Doge but I believe each alt that crashes helps make the case for bitcoin as the more stable coin. Which is great for crypto as a whole I reckon.

 

[rbaggio]

market cap 68,200 BTC, lol this wannabe crypto will die like all the other wannabes

 

[trew]

This comment is not so much about Doge but I believe each alt that crashes helps make the case for bitcoin as the more stable coin. Which is great for crypto as a whole I reckon.

market cap 68,200 BTC, lol this wannabe crypto will die like all the other wannabes

Well why? What will make every other crypto coin die and bitcoin survive ?

Another possibility is that over time everybody will realise bitcoin is no different to the alt currencies and should not be more highly valued.

 

[Phiber]

It has been pointed out a few times already all the infrastructure in place for bitcoin.
I think what might happen is that as we move forward and cryptos gain more acceptance, legislations are designed etc, we might see some institutional investors dipping their toes into the market. When that happens, chances are it will be with Bitcoin.
Also, in terms of the news we read about cryptos, it's all about Bitcoins - bitcoin often being used to actually describe cryptos as a whole.

But you are correct trew in that no one knows what the future holds - it is however my view that while we remain in the awareness phase of this new phenomenon, Bitcoin will lead the way. Once this is more mainstream however, I agree that things could change. However don't forget all the investment in terms of hardware that goes behind Bitcoin.

 

[dozerz]

and now its recovering? or dead cat bounce?

 

[silvertorrent]

Dead dog bounce would be more fitting; probably an idle period during the Sochi stuff (more lulz to be had with the US Gov 'debt' limit meanwhile) then it'll roll over and play dead afterwards.

 

[southerncross]

Still twice as many transactions in Doge compared to Bitcoin each day, and the value of those transactions is twice that of Litecoin.
Still think it is destined to become the Yen of the crytpo world.

 

[TreasureHunter]

Well why? What will make every other crypto coin die and bitcoin survive ?

Another possibility is that over time everybody will realise bitcoin is no different to the alt currencies and should not be more highly valued.

I agree with you totally.

Bitcoin may even be overbought. It spiked due to "fashion", media attention late last year, remember? So, people bought in like they bought gold.
Then Bitcoin traded sideways for a while (like gold in 2011, 2012... 2013 until it crashed), so a Bitcoin crash can happen. It could occur in a cascade, like it's happening with gold (still more bearish than bullish).

Dogecoin on the other hand to me looks rather like a "penny stock". Powerful marketing and mania behind it. Despite it being a "joke", it managed to get to place 4 among all cryptos.

Why would Bitcoin survive and the other cryptocurrencies get destroyed? What if it happens the other way around?

There is a possibility that all current cryptocurrencies go bust and then a totally new generation of cryptocurrency arrives - e.g. one launched by the Fed or BRICs or a small private entity.

What I'm saying is, I'm not that sure about Bitcoin being "the king" either. It may be, but it may simply be the first experiment. Something totally new and really big might come after it - after we all learned from this experience with digital currencies.

 

[RetardedMonkey]

Was up to 0.00006399 so I sold the rest. Can't see this going up that much.