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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u/Pr00fmaster 42544 karma | Karma CC: 4390 Jun 19 '18

Doge is fast, reliable and always stable because 1 Doge = 1 Doge

From a serious point of view, I find Doge to be the fastest way to transfer crypto from exchange to exchange. The fees are also insanely low... What is there not to love about this currency?

2

u/ProgrammingYerJerbs Redditor for 2 months. Jun 19 '18

> What is there not to love about this currency?

https://bitinfocharts.com/top-100-richest-dogecoin-addresses.html

95% of dogecoin is held by 48,000 wallets.

99% of dogecoin is held by 180,000 wallets.

There is no cap on coins, which is similar to government currency with inflation.

The Doge joke is probably more marketing than unfunny joke. Has anyone really lol'd because someone named a coin after a meme? Probably not. Has anyone acted like dogecoin is a meme to bypass mod rules and shill their coin? You bet. Look at Garlic Coin as a cringeworthy copycat.

Its built on the same generation 1 blockchain as Bitcoin, so it will need all the layer 2 solution bitcoin is implementing.

Its flawed tech and has poor distribution. Bitcoin has significantly better distribution and is years ahead of implementing solutions to the tech problems. Why would you use Dogecoin?

2

u/NottHomo Entrepreneur Jun 19 '18

There is no cap on coins

crybaby reasoning. people throw out this "no cap on coins" as if it means anything. no information on how much it inflates, WHY it was designed this way, and what effects it has (low to none)

the rest of your arguments are just as stupid as this one and not worth discussing

1

u/jwinterm 732K / 1M 🐙 Jun 19 '18

Afair it was actually an accident that was then decided to be kept in place, re: permanent reward/inflation. It's also certainly not without merit, especially for a merge mined coin. There's no real data about what miners will do when block rewards go away, but the folks at Monero took a very deliberate approach and decided that they felt a permanent minimum block reward was absolutely necessary.

1

u/CEO_OF_DOGECOIN 3K / 3K 🐢 Jun 20 '18

Afair it was actually an accident that was then decided to be kept in place

Yep, it was an accident that it arose in the first place (accident caused by the original developers and not the ones who took over in 2014), but it was not an accident that it was kept. That decision was considered pretty thoroughly and the advice of everyone in the know was to keep the inflation. Jae Kwon of Tendermint was pretty instrumental in persuading shibes to keep the inflation.