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     6 years ago  

    I am not sure Dogecoin has any practical use outside of what it is currently heavily used for, and that is, as a medium of exchange. 

    Due to it's low transaction fees, and fast transfer times, it's convenient for use on many of the current exchanges. 

    I've had my eye on Doge for about a year now, and I like that it's a relatively stable coin, with a predictable trend. (At least for me it's been predictable). 

    I've been successful using Dogecoin as a day trading coin. During pumps, if Doge is low, I will typically trade volumes of other cryptos over to Doge, when when the others dip, I trade back. This has not amounted to huge gains, but gains nonetheless. I had a feeling about this current Doge pump, but ignored it, and missed it on a nice gain. I was lucky enough to make a small profit though. 

    I personally would not buy Doge right now. I would expect it to dip back down some from where it's currently at, but this is only a guess, and not based on professional context. That being said, I'm not a professional, and this is only my prediction based on Dogecoin's past behavior. 

    If you do decide to buy right now, I wish you luck and prosperity!

    To the moon!

    $0.91
    • Past Payouts $0.91
    • - Author $0.69
    • - Curators $0.23
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     6 years ago  

    I feel that to decide whether Dogecoin is worth holding or not we need to figure out its advantages and disadvantages.

    Advantages:                                                

    1. Very low transaction fees.
    2. Fast confirmation times
    3. Strongly loyal community
    4. Low prices for now

    Disadvantages:

    1. The development has almost stopped since 2015 (although we are seeing some activity on GitHub again)
    2. It's inflationary due to its unlimited supply 
    3. Mining is barley profitable
    4. It can't seem to shake the the stigma of its origin being a meme joke

    Dogecoin is technically a fork of Litecoin and was Launched in 2013 but unlike Litecoin, it has an uncapped supply which makes it a bad choice in terms of inflation. On the other hand we need to remember that it has been around for longer than Ethereum and has build solid community support. Dogecoin has established itself as a sound payment method and its community has been heavily involved in charity.

    Some people claim that since the coin started as an internet meme joke, therefore it hold little merit. I find this particular argument superficial and without depth since the technology behind the coin is solid and works seamlessly. 

    I feel that Dogecoin is here to stay. As of today, Dogecoin actually broke into the top 20 market cap coins and seems to strangely unaffected by the current bear market. I feel that Dogecoin is a solid investment.