Jump to content

HEY, LISTEN! PLEASE READ THIS

 

HEY, welcome back to GP! You should probably check this thread out here if this is your first time back on the forum since our upgrade. Suffice it to say, some things have changed! CLICK HERE to read more about it, including some new functionality.

Sign in to follow this  
  • entries
    19
  • comments
    74
  • views
    46,236

How I Learned to Leave Bitcoin and Embrace Dogecoin

Harrison Lee

2,327 views

For the longest time I was an ardent supporter of Bitcoin. Like many of the libertarian and tech-savvy users of BTC, I saw a future of paperless, bankless money just waiting to be explored. That is, until I spent my 1.8 BTC on a new Nvidia GPU for my rig. At the team each coin was worth about $140 or so. In my mind, it was a great investment. I hadn't paid any direct energy fees (yay college tuition!) and essentially received the card I mined for free. And then a few months later, I decided to check how much BTC was worth. It was a rude surprise to see they were worth over a grand a piece.

 

This made me upset for many reasons, chief among them being that I'd felt I had made a poor choice in my investments. And then came the feeling of remorse that I'd gamed the system of bizarre user-centric values for my own personal benefit. It felt no different than the barons who currently only millions of dollars worth of BTC, albeit I'm much poorer than they. With that blast-off of coins and the eventual difficulty increase in mining due to ASICs, I left the land of Bitcoin and cryptocurrency for months. I attempted mining Litecoin but that only ended in futility. I even considered returning to BTC but ASICs had made my GPUs more or less obsolete.

 

gallery_234_64_91795.png

 

And then along came Dogecoin. I'd heard of this meme-based cryptocurrency as it made the rounds on tech news sites for its sheer preposterousness. Dogecoin, based on the titular doge meme, is as ridiculous as it sounds. But there are more than a few fascinating reasons to take the altcoin quite seriously. For one thing, dogecoin is as newb-friendly as it gets. Even those with virtually no tech experience can hop along and experiment freely. And because dogecoins essentially have no real limit on how many can be mined, it's relatively easy for anyone to start mining.

 

The other, more important reason dogecoin is a true contender is the community. I've never encountered a friendlier e-coin community than dogecoin's userbase. The folks here are genuinely kind and generous. Every one has a light-hearted approach to the coin and welcomes new users with open arms. Despite the high number of new member threads and beginner questions on Reddit, there's always someone willing to answer and guide new shibes (as well call ourselves) into the fold. While dogecoin mining is the easiest to jump into, having helping hands to assist you is never a bad thing!

 

Generosity from the dogecoin community has even sent Olympic delegations and individual members to the most recent Winter Olympics in Sochi. Just ask the Jamaican bobsled team or the Indian men's single-luger and they'll tell you dogecoin helped get them to Sochi. It's a remarkable feat of the online community to rally together and donate so much money. And from the way things are looking, this trend will only continue as new shibes and old ones alike continue spreading dogecoin across the web.

 

gallery_234_64_27058.png

 

The most interesting part of dogecoin's growing power is how quickly it's become a top-four or top-three cryptocurrency. In just these past two months, dogecoin's risen 1000% in value. While it's still only worth about two-tenths of a penny, that's impressive considering it was worth .00025 cents several weeks ago. And even more BTC and other altcoin users are trading their stocks for dogecoins! What started off as a joke is becoming a widely-accepted e-coin. Because it's not scarce and finite as Bitcoin is, dogecoin makes more sense as a daily currency, only reinforcing the potential value of this internet phenomenon.

 

As you can tell, I love dogecoin. The concept is bloody brilliant and could only have spawned from the internet. Heck, it's based on a meme declared dead as of last year! It's clear that doge has found a new residence inside our online wallets. Time will tell if dogecoin can continue its surge in popularity and value but, from where I'm standing, we'll reach the moon soon enough! For more information on dogecoin and advice on how to get started, check out this Reddit page. If you'd like a few dogecoins to start fueling your rocket to the moon, get a wallet and I'll send you some! For now, that's all. Shibe on!

  • Like 1


6 Comments


Recommended Comments

I kinda get it but i kinda don't. I know its e currency and that you have to mine it. But where do you use it? How do you transfer it to cash? Im just a tad confuzzled.

 

Glad you are having fun with it though. I had heard about it too. But i wrote it of as a joke cause of the meme. The coomunity sounds really nice.

  • Like 1

Share this comment


Link to comment

The idea of e-currency always appealed to me, but more of an interesting economic experiment and not a viable way of generating income or even investing. Of course, I'm eating those words after the price for bitcoins have shot up by ridiculous amounts but then again, they could crash just as easily. I feel though now that bitcoins have been a proven concept, people will be much more eager and willing to buy into Dogecoins and the returns will be no where near as high as with bitcoins.

  • Like 1

Share this comment


Link to comment

I kinda get it but i kinda don't. I know its e currency and that you have to mine it. But where do you use it? How do you transfer it to cash? Im just a tad confuzzled. Glad you are having fun with it though. I had heard about it too. But i wrote it of as a joke cause of the meme. The coomunity sounds really nice.

 

You can use it at online or B&M stores that accept e-currency. It's converted to Paypal or other e-currencies using exchanges, much like a currency or stock exchange.

Share this comment


Link to comment

The idea of e-currency always appealed to me, but more of an interesting economic experiment and not a viable way of generating income or even investing. Of course, I'm eating those words after the price for bitcoins have shot up by ridiculous amounts but then again, they could crash just as easily. I feel though now that bitcoins have been a proven concept, people will be much more eager and willing to buy into Dogecoins and the returns will be no where near as high as with bitcoins.

 

Dogecoin is great because it's more practical than Bitcoin. I love the idiotic concept turned valid payment method.

Share this comment


Link to comment

You know... I think I'll get myself a Doge wallet and see what I can do.  These currencies are a very interesting... thing, and I'm intrigued enough about the whole thing to create a Doge wallet and figure out what everyone means by 'mining'.  :D

  • Like 1

Share this comment


Link to comment

Really liked this blog and learned more about the Doge wallet and your use of bitcoins in the past. Didn't think I would have interest, but now I do. Very fascinating way of having currency to help out the community and such.

I couldn't help it, but I wanna post this gif for you Lee. xD

aD0b92N_460sa.gif

 

  • Like 1

Share this comment


Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
×