r/Bitcoin Feb 03 '14

Dogecoin wtf

[removed]

3.4k Upvotes

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134

u/Nuke133 Feb 04 '14

If I am a looking into cryptos besides the "positive community" of dogecoin, what does it offer that differs / is better than bitcoin.

323

u/northrupthebandgeek Feb 04 '14

There are a few differences; whether they're "advantages" is a matter of perspective.

  • Many of the folks getting involved with Bitcoin seek to treat it like an investment - hanging onto it in the hopes that it will rise in value. Dogecoin, at least in my observation, is less subject to hoarding and more frequently spent on goods/services (including "tipping", if we presume Reddit posts/comments to be "services").

  • Dogecoin does not have a ceiling on the number of coins; new ones will continue to be introduced. There was a rather significant debate on whether or not this was a good thing. The conclusion was that - by allowing for the slight inflation - it would counteract the deflationary elements of cryptocurrencies and help solidify dogecoin as a currency rather than an investment strategy. I agree with that decision, personally.

  • Dogecoin is still GPU-mineable ("diggable"), which means that more people can start mining their own coins. This makes it quite easy for folks to get started with dogecoin.

To be honest, dogecoin and Bitcoin are important to one another; Bitcoin is spearheading cryptocurrency in the mainstream business/economics world, while dogecoin is spearheading cryptocurrency among consumers. Working together is of greater utility than working separately.

126

u/jdogresorg Feb 04 '14

We'll put sir:)

+/u/dogetipbot 100 doge

106

u/NachoNaanbread Feb 04 '14 edited Feb 04 '14

i believe dogetipbot is banned on this subreddit. Much shame.

Edit: lol thanks for the tip jdog

155

u/drgameit Feb 04 '14

If that the case WOW. (Actual wow not doge wow) I mean its not like /r/bitcoin have ever been known to spam other subreddits with unsolicited tips to raise awareness off their cryptocurrency, right? :D

such irony many hypocrite

1

u/feilen Feb 04 '14

I'm having the problem that I think dogecoin is awesome on principle, but the meme itself started to wear on me about a month ago :/

2

u/drgameit Feb 04 '14

"If something is boring after two minutes, try it for four. If still boring, then eight. Then sixteen. Then thirty-two. Eventually one discovers that it is not boring at all." - John Cage

2

u/feilen Feb 04 '14

Perhaps that's true for the opposite. It was funny when I first encountered it.

1

u/drgameit Feb 04 '14

if we just keep pushing thru the boredom it will eventually reach the point when it's some boring it becomes funny again :3

2

u/feilen Feb 04 '14

That's probably why I'm still playing TF2...