...I see no future with this coin.
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.
It lacks use cases...
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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