CRYPTOCURRENCY
POST ALL YOUR LINKS, COMMENTS, AND QUESTIONS PERTAINING TO CRYPTOCURRENCY IN HERE (NON-BITCOIN).
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POST ALL YOUR LINKS, COMMENTS, AND QUESTIONS PERTAINING TO CRYPTOCURRENCY IN HERE (NON-BITCOIN).
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Happy Crypto Halloween Everybody! Get into Spirit Swap and Morpheus Token on Fantom in my recent blog!
https://leofinance.io/@elwaldo420/crypto-halloween-spirit-and-matrix-characters-on-defi-with-the-fantom-ecosystem
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Happy crypto to you 🤡🤡🤡
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Happy Halloween but I think I'll pass on Morpheus and the spirit swap stuff.
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Finally, I've found Wally!
I've been starting to diversify some of my DeFi assets out of BSC and I'm looking for solid, decentralised alternatives.
Would you recommend Fantom based dApps?
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This was written in February 2021:
It should have been some other crypto: Bitcoin,
Ethereum, Litecoin, THORChain, Terra, Polygon, etc. It could still be Hive, but it's too early to tell. So it fell to Dogecoin.
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Apart from the hype around dogecoin, I see no future with this coin. It lacks use cases and other things that can make it thrive in the market
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This coin with "no future" has been around 8 years. Bitcoin has been around 12 years. Coins with "no future" don't last that long.
Decentralized, trustless, and permissionless digital currency is the most important use case there is.
It was meant to address problems and weaknesses of fiat currencies.
That was the promise of Bitcoin, and Dogecoin is a direct decendant of Bitcoin. BTC was meant to be used as a medium of exchange between people and businesses who wanted to bypass fiat currencies. BTC was meant to be used just as easily as any physical local currency.
It didn't work out that way with Bitcoin, and we know what happened since then.
Also remember that use cases didn't become a thing until Ethereum-- a programming and development platform-- arrived years after Dogecoin. Before Ethereum, cryptos were created simply as digital currencies to be used as media of excahnge
It's OK for a cryptocurrency to by "just money" as long as it performs that function well. After all, more people in the world use DOGE than HIVE in day-to-day life. That's not a fun sentence to write, but we need to be reminded every now and then.
It also helps if a crypto is widely accepted compared to its competitors. In Southeast Asia and Australia, that crypto seems to be Terra. In North America, that crypto for certain is Dogecoin. In 5 years it could be something else.
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When we talk about decentralisation, we need to consider the token distribution as well as the network.
Dogecoin is extremely top heavy with only a handful of wallets holding a majority of the supply.
It fails this test for me.
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Token distribution is how well the token is spread between the whales and the minnows, is that correct? Whales will exist for every crypto, but is token distribution used to show how well-developed a middle-class of token holder is?
I'm asking because my understanding of rich list data is basic and superficial at best (e.g., #1 has the most, last place has the least, a small rich list shows lack of popularity).
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Yeah, all this.
Node distribution is key for removing network attack risk - Dogecoin doesn't have a widely decentralised network.
Token distribution is key for removing a price dump risk - The majority of DOGE is held in the wallets of a few elite.
Risky.
But the masses don't care about this, they care about number go up as quickly as possible so they can dump on the latest sucker.
Long term, only truly distributed networks, with distributed token supply will survive.
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I don't really see much development happening on DOGE and it's just a chain where people can transfer around money. So I don't think it will be a real currency anytime soon.
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You say that Dogecoin won't be a real currency anytime soon; it's a real currency now-- people use the damn thing outside social media platforms. It's as real a currency as Bitcoin, it's more accessible to people than Bitcoin, and more people are familiar with it than most other altcoins.
The purpose of money-- fiat money, sound money, digital money, proxy money, imaginary money-- is to be used as a medium of exchange. We don't need to like the specific form it takes, but if people use it, then it's money. Some money is better for large purchases, some money is better for small purchases, some money is better for debt service, some money is better for investing. As long as people accept it, it will be used.
As wonderful as HIVE is, with all its use cases and increasing ecosystem of dApps and its solid fundamentals, HIVE will stay in the background until it's accepted by people outside the network and treated like a contender. Splinterlands is carrying Hive on its back and doing amazing things for fine; however, even Splinterlands can only take Hive so far if people aren't willing to use HIVE. If people don't want to recognize HIVE and transact with each other using HIVE/Layer 2, what more can we do?
HIVE will have its day in the sun and be widely accepted once it is discovered, and then people will understand how superior it is to DOGE. At the moment, DOGE is better than HIVE in the only way which matters above all others: widespread use by the people.
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Well I guess you could consider DOGE as a currency but I still don't think it will do well in the long run. I guess having smaller fees might help them but I wonder if people will still choose it once no fee chains start appearing more often.
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Oops....
Maybe Shiba Inu can make good on its prmomise to be the Dogecoin Killer.
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I am wondering just how long the prices can last. To my knowledge, I think it was just getting listed on an an exchange (robinhood or something like that). Most of the tokens dropped back down after the hype.
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There will very likely be a price drop after that new crypto smell wears off. The question is will it drop back to where it was before the listing, or will it settle at a range higher than its previous support levels.
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Already is has gotten much more attention compared to dogecoin but we have at hope that it is not a bubble that might likely blow very soon leaving many people in regret.
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Shiba Inu is doing better in Year 1 than at last 2 cryptos at the same stage: Dogecoin and Bitcoin. It may not achieve the popularity of Dogecoin or the value of Bitcoin, but it's safe to say that Shiba Inu is leading the pack among the memecoins and dog-themed coins.
For anyone looking for a coin with good mooning potential, Shiba Inu may be better than SafeMoon or PulseChain.
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