Dogecoin

DoricJim · Jan 14, 2022

^^^never mind see the thread got merged and there are instructions on page 1. Thanks

Buckminster · Jan 15, 2022

Rob discusses Doge at the 8 min mark:

TSLA will now provide a floor supporting the Dogecoin price going forwards. Also, likely next merch will likely be available in Doge only. This could push up the price of Doge. Get your wallets ready!

Xepa777 · Jan 15, 2022

FEERSUMENDJIN said:
As clearly elaborated by elon, and many others. Superior transaction rate, capacity and fees. Especially with the recent DOGE Core updates, Its a no brainer. Bitcoin a value store. DOGE for transactions (currency)

Okay…this is the equivalent of shilling Nikola Motors. This is bad y’all.

There’s hundreds of cryptocurrencies that have faster transaction times as bitcoin. Harmony one has $0.0001 fees and instant finality time with sharding technology that was developed by a UPenn phd grad. Blows doge out of the water by orders of magnitude. Hedera hashgraph can handle 10,000 transactions per second with parent hashes and has a real council of major global corporations building pilots. Binance smart chain is faster and cheaper than doge + the third largest crypto + smart contract capability + a robust ecosystem of developers building on it. I can literally list over a hundred projects that have a better shot at being the world currency than doge.

And again, all three examples above have smart contract capabilities meaning there can be entire ecosystems built around them. That means ach and credit card and insurance integration. Dogecoins developer community is a joke.

You yourself said doge isn’t competing in bitcoins lane. Which it’s not. So I don’t know why people would talk about first principles superiority when bitcoin was intentionally architected to focus more on security over transaction finality speed.

So evaluating from a currency perspective, why would anyone use doge when multiple other crypto currencies are (1) faster, (2) have a more robust developer community, and (3) have real utility by having smart contract capability?

Memecoins are that, memes. It’s not serious. Doge core updates are a joke. It’s taking ethereum 5+ years to migrate to proof of stake and that’s a serious multibillion dollar effort with the largest developer ecosystem out there. bitcoin, the best approximation to doges code (because doge was literally created in an hour as a joke by modifying bitcoin code), has glacier slow updates. It’s taking taproot over half a year to implement changes that have significantly less functionality improvements than most protocols today make in a month.

This is like someone saying that a flip phone is better than a burner phone. And like….totally ignoring that smartphones exist, because their favorite celebrity shills the flip phone. And ignoring that burner phones have a completely different purpose.

And pre-emptively, if anyone here is thinking of saying “oh but Elon supports it must be great” Elon himself admitted multiple times that he’s not well versed in crypto. Dogecoin is cute. It’s fun. It can make money if viewed as a Vegas alternative. It’s certainly never going to be the global currency (which with its inflation rate is the only way it’s not totally worthless in the long run).

Being a doge investor is the exact antithesis of being a tesla investor and everything this forum represents when it comes to thoughtful due diligence.