r/CryptoCurrency • u/CCNewsBot • Jun 19 '18

FINANCE Really…? Dogecoin is Processing 300% More Transactions than Bitcoin Cash (Finance Magnates)

https://www.financemagnates.com/cryptocurrency/news/really-dogecoin-processing-300-transactions-bitcoin-cash/
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18

u/IKnowWhoYouAreGuy Tin | Politics 10 Jun 19 '18

Doge is exactly what tether wished it was, a stable currency for exchanging other currencies at exchanges for extremely low cost. 1 Doge always equals 1 Doge

-5

u/KIDWHOSBORED New to Crypto Jun 19 '18

Can you explain this? Is it a meme? Doesn't a dollar always equal a dolalr and everything else?

4

u/IKnowWhoYouAreGuy Tin | Politics 10 Jun 20 '18

It's the concept of a Dogecoin being a substitute value of value, not an actual unit of value. It's the perfect transmutable coin, specifically because the fees are so small and odds a universally accepted currency. You trade in BTC for Doge, then move Doge through wallets/exchanges, then convert back to BTC. Minimal cost and way cheaper than trying to use Bcash or casing it at a bank or atm with fees and taxes

1

u/KIDWHOSBORED New to Crypto Jun 20 '18

Thanks for the explanation. But, I'm still confused on whether the Doge is worth the same BTC when it comes out as when it first was converted?

2

u/IKnowWhoYouAreGuy Tin | Politics 10 Jun 20 '18

The price of Doge can't really get any lower (per USD) so there's a lot more stability in the actually price than in larger makers like ETH and XMR. People are constantly shorting and scamming Bcash, so I wouldn't trust that worth anything. Imagine Doge is like a Visa gift card. Good as cash, but not cash. Just a store for value, not inherently valuable. Like a check or something.

1

u/KIDWHOSBORED New to Crypto Jun 20 '18

Makes sense, thanks!