STATE OF DOGECOIN
I have collected as much data as I could possibly find and contacted as many major players in the Dogecoin community as I could. I hope you all find this synthesis of information informative and worthy of discussion.
Anything that was announced in the few days before this was posted may not be included here, due to me working on this for the last 2 weeks!
I wish I could have included EVERYTHING, but there is just too much to add that fits in one reddit post. I hope to do this again, maybe even as a quarterly report.
Please take all the information presented to you here and make your own conclusions about how important each piece of data is to YOUR view of Dogecoin. Price
1 Doge = 0.00029 USD
Price would have to increase ~750% to be back at peak value.
COMPARED TO LITECOIN
1 LTC = 7.60 USD
Price would have to increase ~650% to be back at peak value. Market Capitalization 7th of all digital currencies, ~$23 Million USD
Our market cap has been declining the last few months, most coin’s have.
I am excited to know what our year-to-year price change will be as that is a better measure of change than the last 30 days.
For the past few days I have been trying to find a graph of the TOTAL market cap of all coins together over time.
I have a theory that not a lot of money is being put into cryptocurrencies at the moment, and the coins that go up in value are taking away value from others. What do you think?
I want to know if this is true, or if I am crazy. If that is somewhat true, there is a limit to how many coins will make it big.
I'd love to just see the total ALTCOIN market cap over time as well. Hashrate/Halving
Hashrate = ~50GH/s
Oddly, this is about the same hashrate we had after the last halving! ASICs inbound…
I could not find what proportion of the SCRYPT hashrate we have over time, as that is the best measure of hashrate in relation to other coins. I do have this though.
Litecoin’s hashrate is about 10 times larger than ours now.
The current block reward (recent halving) will create 90 Million Dogecoins/day or 38.7BTC at current prices.
This means that if ALL mined Dogecoins are sold every day they would only make up 3.8-7.5% off all transaction volume per day, which is around 500-1000BTC/day.
When the price stays the same, we can assume 250-500BTC of Dogecoins are bought or sold in that day. Therefore miners do not make up a large portion of the selling anymore, and they haven't for a while.
Another BIG assumption you have to make is that 38.7BTC cannot move markets. From my personally observations, the Cryptsy DOGE/BTC market controls the price of Dogecoin. I have watched the Chinese markets (BTC100, BTC38, BTER) respond to changes in price after they happen on Cryptsy. ~38BTC can have a HUGE impact on price if buy/sell walls are not there to support it. We need more demand, but it is nice to have less pressure from miners anyways.
Liquidity is still much much higher with Litecoin though! Transactions per Day Dogecoin has more transactions per day Litecoin, and all other altcoins. Sent from addresses Dogecoin has more unique addresses sending coins per day than Litecoin, and all other altcoins. Average Transaction Value
Average Litecoin transaction value for today was $9,380 USD.
Average Dogecoin transaction value for today was $122 USD.
Average Bitcoin transaction value for today was $3,250 USD. http://bitinfocharts.com/comparison/transactionvalue-btc-ltc-doge.html
Dogecoin is potentially being used exactly as intended. Lots of people sending small amounts of money to each other or things.
I am stunned that the AVERAGE person sending Litecoins that day, sent almost $10K.
That is 3x higher than Bitcoin. In fact, oddly, Litecoin always has a higher average transaction value than Bitcoin since the Bitcoin bubble in late 2013. Anybody know why?
We usually DO NOT have higher transaction volumes than Litecoin, but we do consistently have ~500-1000BTC/day that is transacted, putting Dogecoin in the top 5 most traded coins. Dogecoin Address Growth
Dogecoin has also GAINED 14,653 positive addresses in the month of June, where Litecoin has LOST 33,875. (info from bitinfocharts and currency4world
) Wikipedia Statistics
Bitcoin traffic – Average ~9000 views in the last 90 days (highest 18614 views/day) – total views/90 days 819,193
Litecoin traffic – Average ~380 views in the last 90 days (highest 998 views/day) – total views/90 days 40,036
Dogecoin traffic – Average ~1200 views in the last 90 days (highest 8629 views/day) – total views/90 days 154,415 Circlejerking Statistics Bitcoin recently surpassed 1 Yottahash
, I believe we are up to almost 1 Yottajerk of circlejerking power. I am excited for a few years from now, when the QuantumJerk ASICs are released.
Every time I read someone calling /dogecoin
a circlejerk I laugh, not because they are wrong, but because they are just stating the obvious.
Do you think there is someone in the corner of the room at NASA who just comments about how all they talk about is rockets and space?
If dreaming big and congratulating ourselves on our achievements is a circlejerk, then I guess it’s human to circlejerk. Every subreddit is a circlejerk, the only difference in /dogecoin
is that you can get tips from circlejerking. (Is that prostitution?)
The main point of this section was to see how many times I could type circlejerk. Foundation The new Dogecoin Foundation is now a legal enitiy and will have a road map of working projects
Personally I would love to see someone from the Chinese Dogecoin community represented on the Foundation. They buy and sell a lot of Dogecoins
Maybe just a liason position or something.
At the very least, during fundraisers, the Chinese community should be contacted to see if they want to help out! Development
Dogecoin is the ONLY altcoin with over a $1 Million USD market cap with the Core/Wallet/qt based off of Bitcoin 0.9. Dogecoin Core will be kept up to date and features from the Bitcoin Core will be adopted quickly. The devs are doing great so far, especially against coins with full-time PAID developers! CrytoSaga
Unprecedented cryptocurrency modeling software will be written to test possible outcomes to changes in Dogecoin’s algorithm. Main candidates are PoS 2.0, Tendermint, and SIMD. To my knowledge, this has never been created before in all of cryptocurrency, and will definitely further highlight the abilities of Dogecoin’s development team. A payment protocol is also being worked on. Cryptiv
Dogetipbot Twitch tipping with dogetipbot will go live soon!
- Cryptiv is considering integrating tipping on Wordpress websites and would love to hear the community’s feedback on this next potential platform or if they have any other suggestions?
- We will be making some improvements to the site and to the tipping experience on Twitter, Twitch.tv and Youtube based on feedback received from our users and hope to implement and announce these improvements very soon!
- Trending page has been announced
You can sign up to be invited to the beta, here. After Twitch tipping goes live, there will be a huge announcement
I have followed what mohland
have said about it, here. Coingecko
Price might not be so encouraging at the moment, but stay faithful. Keep up the good work. Encourage more people to join. The community is something special. I have strong faith that it will be heading to the moon! Coinplay.io http://www.cryptocoinsnews.com/news/kansas-city-startup-incubator-partners-dogecoin-based-coinplay-io/2014/07/09 Suchlist
SnapCard Buy ANYTHING in Dogecoins that is for sale online.
- Optional multi factor authentication. Will start with Google Authenticator and possibly one other for of authentication. This allows a users account to stay safe even if the users password is compromised.
- Site moved to 100% SSL encryption. That means that all communication with www.SuchList.com will use HTTPS. Not only when logged in. This makes sure user data and cookies etc stay safe.
- Added more user validators (used to validate user provided data). Such as Etsy and LinkedIn.
- Adding auction style listings so that someone posting can select that it's an auction and set things like start price, buy now price, end time etc.
- Graphical redesign.
Available in over 50 countries. Only BTC, LTC, DOGE, and XRP are supported. WeSellDoges
- More than 750 MILLION Dogecoins sold since opening in late April
- More than 3500 transactions to more than 2600 Shibes in 66 countries
- OKPay/PerfectMoney for non-US based transactions coming soon
The biggest new Onarbor feature announcement is ability to back and re-back works and reviews. This was the top request so we're glad to finally implement it. Coming soon will be more tailored feeds where we will allow people to follow creators that interest them (will allow TwitteFB/linkedin auth to find friends/colleagues). What can Dogecoin do better? Marketing
For a coin that has done some of the best marketing out there, we suck at getting major announcements across on multiple platforms.
I am hoping /dogecoin_pr
will bring this up to par.
51.54% of Dogecoin users are on Dogecoin Core 1.6.( http://bitinfocharts.com/dogecoin/
Maybe merchants and such are not to keen on updating if it is not required, but maybe they just do not know about 1.7.
When 1.8 comes out, I would love to see a sticky thread on the subreddit, an announcement on the official Dogecoin Twitter and Facebook pages, an announcement on the front of the BitcoinTalk forum, as well as contacting cryptonews websites. Dogecoin has a large social media presence and should be taking advantage of THAT! Dogecoin.com
I know you powerlemons
is working on updating this, but the website is COMPLETELY MISSING a section on how to accept Dogecoin. This should be just as big as the other coloured sections!
ALSO This should be added to the “Get Dogecoin” section at the bottom of the page.
I have tried to keep it updated as much as possible, but would love the community to notify me of any changes
COMMENTS Josh Wise
“I have said this to a few people in the community but my two cents on this is to keep it fun, charitable, and stick to the fundamentals that made the community grow so much initially. My personal opinion (and I really have no clue what I am talking about) is that this community grew so fast because it was so much fun, anything seemed possible, everything seemed worth trying and there were not many negative undertones with anything. It seems like people are really getting wrapped up in a lot of negatives right now and that is never productive. The law of attraction will rule in the end and as long as people are positive- no matter the circumstance- the circumstance will become positive. I love this place and wish only the best for dogecoin and the community, and like I said, I have no clue as to all of the intricacies and the many moving parts past and present. Only my two cents on what I see (:
As far as upcoming projects- I am still working on some new shirts by popular demand. I would really love to either race the Dogecoin car in a few Superspeedway races next year, or try to raise money so that we can run the rear bumper all season. I am super thankful for all that has come of this and want to continue to help build the brand and awareness in any ways possible. A lot of that is really up to the community though and not me.” Co-founder (BillyM2K aka Shibetoshi Nakamoto)
“A community that is having fun, building cool things, and coming together for great causes and fun causes alike is exceptionally more valuable than one that is trying desperately to create value by finger pointing, complaining, witch hunting, attempting to market useless features, and ultimately eating itself.”
DISABLE JAVA submitted by
There's java zero day exploits being discovered all the time. One exploit still hasn't been fixed
. You should do this permanently with your browser java is an exploit factory. IE you can't completely disable java so don't use it.
INSTALL NOSCRIPT ADDON https://addons.mozilla.org/en-US/firefox/addon/noscript/
- In Firefox, select "Tools" from the main menu, then "Add-ons," choose Plugins then click the "Disable" button next to any Java plug-ins.
- In Safari, click "Safari" in the main menu bar, then "Preferences," then select the "Security" tab and uncheck the button next to "Enable Java."
- In Chrome, type or copy "Chrome://Plugins" into your browser's address bar, then click the "Disable" button below any Java plug-ins.
or whatever shit script blockers Chrome/Safari use because Chrome is still lacking the required infrastructure for selective script disablement and object blocking so noscript isn't available, but inferior clones are. Whitelist only sites you need, like btc-e.com so it doesn't automatically load harmful scripts on untrusted sites. GET AN ENCRYPTED PASSWORD SAFE http://www.schneier.com/passsafe.html
Don't use any solution that 'encrypts in your browser' because it will need java and we disabled java remember? MAKE NEW GMAIL ACCOUNT JUST FOR TRADING
Make a random account name + password that can't be guessed. http://www.passwordgenerator.eu/
Store them in your password safe so you don't forget them. Never reuse that password on any site. ENABLE TWO FACTOR AUTHENTICATION.
Note that 2factor ID sometimes doesn't work if your phone time is off. You get 30 seconds to type in the code, if off by 10 seconds derp run out of time. Set your time manually if the shitty telco time server is off www.timeanddate.com MAKE BTC-E ACCOUNT
Use impossible to guess passwords from password generator + throw in your own random letters. Save in password safe. Do not pick a name anywhere close to being your email username. ENABLE 2FACTOR ID
Click Profile, then click 'Edit' https://btc-e.com/profile#edit/home
- confirm your email. https://btc-e.com/profile#edit/security
- enable "Withdraw only with request on E-Mail" DO NOT CLICK ANY LINKS IN THE TROLLBOX!!!!
No matter how innocent the link looks don't click anything in the chatbox. Hackers are dropping links full of java zeroday, redirectors that look just like btc-e login page and phish for passwords, all sorts of bad. Trollbox is also prone to misinformation being that it is a trollbox. Avoid.
If you chat on there, expect every PM sent to you will be from a hacker trying to mine information or get you to click a link. Assume every link is an exploit attempt. Notice how it displays your name, if you picked same name as your email, they can go to work on both by trying to break into your gmail account. This is another way how people get their coins stolen. Hacker takes chat name and tries it on gmail/hotmail/yahoo. If they get in because you didn't set up 2 factor expect to be robbed of coins. DO NOT ENABLE API
Unless you know what you're doing, do not enable this. Liberty Reserve disabled their API by default because of so many drained accounts. DISCLAIMER
Of course, be aware the exchange is in Russia or possibly Bulgaria and if anything happens the owner could just disappear, but this is highly unlikely. Why would you walk away from a money machine. Remember bitfloor (US) lost all it's customers bitcoins once, CryptoXchange (Australia) stole from users and disappeared, Bitcoinica (China?) stole or lost all the coins, and bitcoin-24 (German) has just lost their bank account and owner MIA. All exchanges carry risk no matter what country they are in.
You can fund btc-e through cash deposit in India, Singapore, Malaysia, Bangladesh, Nepal, Australia with http://www.ecurrencyzone.net/
which are authorized exchange listed on the Okpay.com site. They sell btc-e vouchers and Okpay. So does http://liliontransfer.org/
for wires and other methods.
If you want a really secure platform (you fear your comp is probably already infected with hidden java zeroday botnet) then download any linux live distro and make bootable USB or burn to CD. I recommend Liberty Linux http://dee.su
If you want to know why watch this, nothing has changed since this talk was given: https://www.youtube.com/watch?v=Z7Wl2FW2TcA
Search best rate for exchange PerfectMoney to Bitcoin. Profitably sell PerfectMoney USD and buy Bitcoin BTC. Bitcoin (BTC) Tinkoff 1.24%; PayPal USD Bitcoin (BTC) 1.20%; Tether TRC20 (USDT) Payeer USD 1.07%; Monero (XMR) Bitcoin (BTC) 1.07%; Bitcoin (BTC) Payeer USD 0.96%; Perfect Money USD Tether-ERC 0.89%; Bitcoin (BTC) Ethereum (ETH) 0.83%; Dogecoin (DOGE) PM 0.83%; Ethereum (ETH) PM 0.79%; Perfect Money USD PayPal USD 0.76%; Perfect Money USD Skrill USD 0.65%; WebMoney WMZ Skrill USD 0.55% ... It focuses on user privacy, and it is a fork on the core bitcoin platform. Exchange your ZEC for BTC is the best way to buy Zcash. Before sending to international exchanges, you can buy ZEC cryptocurrency from any local transactions. Where you can exchange your bitcoin or ethereum for Zcash, look up here for quite a few exchanges. These famous exchanges are Zcash exchanger, HitBTC, Kraken ... How to change LTC By the passing of time, exchanging cryptocurrency is becoming easier, and many websites are providing exchange services, but this is very difficult to choose the best one. EtoroX, Binance, P2Pb2b, HitBTC, and Bitstamp are top LTC exchange platforms, but there is one more website that is competing these sites, and now it is on the top in the world Bitcoinsxchanger. Buy, Sell and Exchange OKPAY (USD) to Bitcoin (BTC). Information: Rate: 1.00 USD = 0.00009702 BTC Guaranteed Rate: 15 min Commission: 0.00% Discount: 0% Processing Mode: Manual. Order will be processed within 24 hours Change. We will notify you when desired amount will be available for transaction NOTE: if you are subscribing first time - please confirm your e-mail address. Cancel Change ...
Die OKPay Kreditkarte ist angekommen. Hier seht ihr das Begleitschreiben und die OKPay Kreditkarte die nach ca. 7 Tagen bei mir angekommen ist. Die OKPay Kre... Sign Up here to get 5% Discount with minimal fees : https://goo.gl/SzP7C6 You can exchange between all of these : Perfect Money Perfect Money Voucher OKPAY P... How To Convert Your Bitcoin To Cash FAST Using Coinbase and PayPal - Duration: 4 ... How to transfer money from a bank account to an OKPAY wallet. Exchange rates monitor. - Duration: 1:13 ... Discord (Krowns Crypto Cave) - https://discord.gg/hzKU7qe Twitter - https://twitter.com/krowncryptocave?lang=en https://krowntrading.net/ - The digital hub o... https://www.bestchange.ru/?p=1171360