I bought $250 in bitcoin. Here's what I learned

Of Wolves and Weasels - Day 31 - That and So Much More

Hey all, GoodShibe here!
One of the joys of being a bit of a dreamer is that sometimes I'm off in the clouds, thinking about the future and changing the world while some of my fellow shibes are like 'yeah, that's nice. I've got a mortgage to pay and student loans nibbling the bottom off my paycheck and mouths to feed at home and...'
So how do we get 'Rich'?
Well, first, since we're being realistic, we need to take a realistic look at what's possible. Right now 1000 DOGE has a market value (not exchange value) of about $1.12 USD.
If we had all 100 Billion coins mined, right now, our combined market cap would be $112 Million.
Now, according to coinmarketcap.com we're at about 50% of that (~$49 Million) which makes sense, considering we're still less than 50% mined.
So, if 1 DOGE currently exists as .112 of a penny (and I apologize for my international users, I'm just not that familiar with the Euro/Yen/Yuan, etc), in order to move DOGE to 1 Cent each, we need to increase its market value by a factor of 10.
Which, incidentally, would put our total market cap at 1.12 Billion (about 1/8 of Bitcoins total).
How realistic is this? Can we make that 1000 Dogecoins worth $11.20?
Sure. In fact, I'd go farther and say, absolutely.
In my mind, it all comes down to adoption and use. Quite frankly, the most ubiquitous coin wins.
The more people we bring in, who start buying and using and tipping and sharing DOGE the more valuable it becomes. We're more than just a coin now, we're a brand. Moreso, we're on the cusp of becoming a 'hot' and 'cool' brand that speaks to a whole swath of young people.
Advertisers love young people. You can see it already out there - different brands trying to hop on and catch the wave early. These folks are doing us a solid, creating a snowball effect at the same time - while trying to attract hip, young, connected kids, they're also creating a mystique about the meme -- about us.
Also: keep doing stuff like this. I have no idea who you are, but I could just kiss you right now. THIS is exactly the kind of stuff that grabs attention and raises eyebrows. The rest of the world is serious business, and yet here is this great group of people who are having a great time (and making money). And if there's two things Humans really, really hate missing out on it's Parties and Making Money.
Add in the Olympic games, which start today, our fantastic charity outreach work is having some amazing ripple effects on the world stage. We're getting great press and continuing to do great work out there, getting people involved and talking about Dogecoin.
Most importantly: Our Dogecoin rewards are set to halve in a matter of days, just as attention on us is going to start hitting a fever pitch. Those who had been riding the fence are going to hop on and those who're just finding out - once they hear about the halving - are going take the leap as well (NEVER invest more than you can afford to lose, people!!).
I think 1 DOGE = 1 Cent is entirely do-able. And, if we keep up the hard work, probably not that far off.
Can we get to 10 cents? What would that take?
It'd take a big shift. To make 1000 DOGE worth $100 -- to increase the value of DOGE by a factor of 100 would be a huge task... pushing our market cap to $11.2 Billion (bigger than Bitcoin -- and the GDP of some smaller nations) but it's not impossible.
The best way to encourage that is to bring in online sites.
Twitch.tv. Steam. Places with massive, active user bases. Places that have advertisers coming to THEM, looking to market to their crowd.
In order for this to happen, we need to get people, online, to see how easy it is to tip and be tipped for their work. We need them to see how easy it is to use and transact in DOGE. It has to be fast, it has to be SECURE! (and I'm not sure we're exactly there yet) and, more importantly, it needs to stay fun!
I know there's an undercurrent of users who really, really wish that Dogecoin would look more 'serious', would have a Doge that's more 'noble' or 'pretty' or something. But that's not our brand. We're fun. However serious or not serious we want to be, that can be decided on an individual basis. But the coin, that silly Shiba smirk, that's our freaking Mona Lisa. That simple, friendly rendering and 'much wow' text? That's what's drawing curiosity and line ups. That's what's drawing the 'youth' crowd.
Finally, we'd also need to have probably 3 or 4 Halvings under our belt. Demand and scarcity will, over time, do wonders for our value. Just as people look back fondly on the days when you could buy DOGE at 50 satoshis and even 150 Satoshis, there will come a time when people will look back fondly at the time when you could buy DOGEs for pennies each.
It would take a lot of work to get there, but once it'd happen very fast.
Can we get to 1 Dollar? What would that take?
Mainstream adoption. Quite frankly. Being able to pay in DOGE at Best Buy. Or Walmart.
Or becoming the official currency of a nation (incredibly unlikely, but stranger things have happened).
In order for Dogecoin to jump by a factor of 1000 and hold it, I believe it would have to no longer be 'just an internet' currency. Our market cap would, first of all, leap to $112 Billion -- eclipsing the entire GDP of Puerto Rico and making us an actual world currency.
For that to happen, basically, our currency would have to be allowed to grow that big. Regulation and taxation would most definitely be a regular part of the process -- no nation's going to let a piece of the pie that size skate by, unnoticed. The US has already had some regulations put in place for Bitcoin, and those will hold true for Dogecoin - but at that level other nations will surely follow suit.
That said, if adoption continues, if it continues to be spent, these things really won't matter all that much.
All this to say that a $1 Dogecoin is a great dream but it's not likely to happen.
Certainly not any time soon.
Though I look forward to the day when I can look back on this post and realize how incredibly, incredibly wrong I was!
It's 9:12 AM EST and we're at 45.19% of DOGEs found. Our Global Hashrate has seen a massive spike in the last hour from ~81 to ~113 Gigahashes per second though our Difficulty is still holding steady at ~1255. The Halving is now about 6 and a half days away - mine what you can while you can. Those block rewards are going to be dropping soon!
As always, I appreciate your support!
TL;RD: a $1 Dogecoin is very unlikely, but 1 cent and 10 cent coins are attainable if we put in a lot of work to help get DOGE out there and accepted.
submitted by GoodShibe to dogecoin [link] [comments]

In honor of Talladega, here is a list of 98 FACTS ABOUT DOGECOIN AND DOGECOIN FACTS. Enjoy!

Hello, everyone!
In honor of the Talladega race, here is a list of 98 facts relating to Dogecoin and other Dogecoin-related facts, however tenuously. ;) This list isn't an official fact sheet, nor is it particularly authoritative, but hopefully you'll learn something interesting.
I tried to offer a mix of obvious and esoteric information.
  1. Josh Wise is the underdog(e) racer driving the Dogecoin-sponsored car in the Talladega NASCAR race.
  2. The number 98 comes from the number of Josh Wise's race car. You'll often see tips, etc. with 98 in them on the dogecoin subreddit.
  3. Other funny tip amounts include 4.20 and 777.
  4. NASCAR is an acronym meaning National Association for Stock Car Auto Racing, referring to the stock cars that are souped-up from “normal” vehicles.
  5. NASCAR's roots are in bootlegging, where people drove illegal booze around and avoided cops with fast cars during the Prohibition.
  6. Doge- has become a useful prefix. A well-known example is the Dogecar.
  7. The Dogecar in question is a Ford Fusion.
  8. “Talladega” refers to the name of the racing track, the Talladega Superspeedway. The track was originally known as the Alabama International Motor Speedway, which is not nearly as catchy as 'Dega.
  9. The actual name of the race that Josh Wise is racing in is the Sprint Cup, during Aaron's 499.
  10. The Dogecoin “mascot” is a Shiba Inu, a Japanese dog breed whose name is sometimes translated as “Small Brushwood Dog.”
  11. People in the Dogecoin community are known as “shibes,” the nickname of the Shiba Inu.
  12. Sometimes “Shibes” is capitalized, just as “dogecoin” can be written in lowercase.
  13. The palindrome of Dogecar is Racegod.
  14. “To the moon!” is a rallying cry in both the Dogecoin and Bitcoin communities. It can refer to several things: the skyrocketing price, the adoption of the currency, or both.
  15. Dogecoin is based on a meme in which a Shiba Inu named Kabosu looks quizzical and uses strange grammar to remark on things.
  16. In fact, there are rules for Doge grammar.
  17. A mainstay of Doge grammar includes the use of “wow” at the end of statements.
  18. The Dogecoin font of choice is Comic Sans, released in 1994 with Microsoft products.
  19. Comic Sans, a much maligned font, was redesigned recently as Comic Neue. Classy!
  20. Dogecoin's code is derived from Litecoin, which is a cryptocurrency that developed after Bitcoin.
  21. Some of Dogecoin's biggest fund-raising efforts have included sending the Jamaican Bobsled Team to the 2014 Winter Olympics, building wells in Africa, and supporting victims of natural disasters. Plus the Dogecar!
  22. A Dogecoin ATM was demoed at Coinfest in early 2014.
  23. In Tijuana, Mexico, there are two Bitcoin-based ATMs that support Dogecoin.
  24. A house was recently put up for sale with the price of 100 million Dogecoins.
  25. A key difference between Dogecoin and Bitcoin is that Dogecoins are less rare, with 5.2 billion coins released into the economy every year.
  26. There are a handful of Dogecoin-friendly restaurants that accept Dogecoins as payment for food. One of the most well-known is the Iron Rail Diner.
  27. The Iron Rail Diner offers a “To the Moon” Sundae.
  28. If you'd rather buy food online, Dogecoin marketplaces have sprung up to allow shibes to grocery shop in their favorite cryptocurrency.
  29. The dogecoin subreddit lists a ton of service providers and shops that allow Dogecoin purchases, and there are other directories that can help you lighten your Dogewallet.
  30. Three foods available for purchase on ShopDoge are two flavors of Doritos and a pack of Mountain Dew.
  31. The stereotype does stand to some scrutiny: recent demographic surveys have skewed towards young, tech-savvy males.
  32. In fact, two recent surveys have shown female participation within the Dogecoin community at less than 15%--and one showed the level to be less than 10%.
  33. Mountain Dew is generally shown on labels as Mtn Dew. No period after Mtn, much like there being no period after the Dr. in Doctor Pepper.
  34. The no-period thing wouldn't be that unusual to someone familiar with British English: in many situations, the period is omitted after the title.
  35. The Tex-Mex fast food chain Taco Bell has exclusive rights to Mountain Dew Baja Blast.
  36. Tipping is a huge deal in the Dogecoin community.
  37. Although dogecoin is obviously very welcoming towards Dogecoin tips, other subreddits are less excited about them.
  38. “Tip” as a word isn't all that old. It originated in the 1700s and was originally a slang term.
  39. Tipping started in England when guests would offer “vails” for overnight accommodations.
  40. The word “gratuity” is much older, though the word in English has a much more official feel than the tipping found in the Dogecoin community.
  41. Tipping is a common practice in the U.S., but it's not an expectation around the world.
  42. The practice of tipping waitstaff in the States derives the fact that waiters and waitresses earn a much lower wage in order to offset food costs.
  43. In Japan, it's weird to tip people.
  44. Tips in USD are considered taxable income by the IRS, the Internal Revenue Service.
  45. The drinking water campaign in Kenya was funded partially by a 14 million-doge tip through Twitter, so-called the “most valuable tweet in history.”
  46. Dogecoin can be bought, acquired through tips, or acquired through faucets.
  47. Faucets are sites that offer a slow leak of cryptocurrency to users who enter their wallet address. Although the faucets offer free coins, the amounts are generally very small.
  48. A common occurrence in the Dogecoin community is the giveaway, a spontaneous tipping event with rules and parameters—even if the rules are that everyone who comments gets some Dogecoin!
  49. Although there are many shibes who start out in Dogecoin via mining, many others are lured in by the giveaways and the free Dogecoins that dogecoin hoists upon newcomers.
  50. The first Dogecoin conference happened in May 2014 in San Francisco. It was appropriately called DOGECON SF.
  51. Dogecoin started as a joke, but it soon became serious business.
  52. Another thing that started as a joke includes the game Goat Simulator, a ridiculously game in which the player causes goat mayhem.
  53. Testing new ideas as “jokes” can be a good way for businesses to get a sense of what their consumers actually want.
  54. One big example is ThinkGeek's Tauntaun sleeping bag, a joke that was so awesome that it had to eventually come true.
  55. You can buy legal services through Dogecoin.
  56. You can pay for an obstacle run through Dogecoins.
  57. There is such as a thing as caffeinated peanut butter, and it's available for purchase via Dogecoin.
  58. Master Gardeners—or at least one in Wisconsin—support Dogecoin!
  59. Master Gardeners are those individuals who have gotten intensive training through the American Horticulture Society.
  60. You can relax at a spa using Dogecoin.
  61. You can become a Korean martial arts master via Dogecoin.
  62. There are numerous ways to gamble your Dogecoin.
  63. Be careful, though: depending on where you live, online gambling may be illegal regards of currency.
  64. Actually, the laws regarding cryptocurrency and gambling are a bit nebulous.
  65. Online poker sites began to disallow U.S. Players from gambling their USD on a Black Friday.
  66. Black Friday is the day when profits go “in the black” (to the moon!) in time for the upcoming Christmas and holiday shopping season. It's a U.S. holiday of sorts after Thanksgiving in November.
  67. DogeMusic brings busker tips from the real world into Dogecoin tipping online. Much generous.
  68. Tipping in Dogecoin can be a type of crowdfunding, a pooling together of money for a cause that's rife around the Web of 2014 on sites such as Kickstarter, Kiva, and Indiegogo. In fact, these sites could one day accept Dogecoin tips!
  69. A handful of nonprofits accept Dogecoin, a few of which include Shelter Card, League Against Aids, Wags & Whiskers, and Ghana Medical Help.
  70. You can get a six-pack through Dogecoin. Sort of.
  71. You can surf in London through Dogecoin.
  72. May 4th is Buy Something with Doge Day, an effort to stimulate the burgeoning Dogecoin economy.
  73. May 4th is also Star Wars Day, an unofficial celebration that was given the nod by LucasArts. May the Fourth be with you!
  74. Dogecoin was introduced to the world on December 8th, 2013.
  75. If Dogecoin were a person, it would be a wobbly toddler. At the age of four months, toddlers' eyes have generally sharpened to 20/40 vision.
  76. If Dogecoin were a puppy, its vision wouldn't be in black and white, like some people believe. Instead, it would be saturated in yellows and blues!
  77. Dogecoin shares a birthday with Nicki Minaj, Mary Queen of Scots, Eli Whitney, and Ann Coulter.
  78. Another famous birthday twin includes Sinead O'Connor, who was sent to an asylum for shoplifting when she was a teenager.
  79. The day after Dogecoin's inception, an article reported that over 500 were mining the new cryptocurrency. That number has increased tremendously since then.
  80. One famous Dogecoin supporter is the man behind Goatse.cx.
  81. Goatse.cx is a shock site from the Internet days of yore featuring, well... Google it.
  82. The owner of the .cx domain, Christmas Island, is the one who stopped the scourge of Goatse.
  83. Before the advent of novelty domains such as .ninja or .bar, domain names were based on actual locales.
  84. Colombia, owner of all .co domains, gets revenue from sites with a .co suffix.
  85. One of the top-rated posts on dogecoin shows a photo of the Jamaican bobsled team in the Olympic parade.
  86. Another post shows 50,000 Dogecoin-worth of pizza being delivered to a homeless shelter.
  87. Dogecoin is very much focused on philanthropic efforts. Studies show that doing good makes you feel good, which has likely contributed to the tipping culture on Dogecoin.
  88. That said, there have been Dogecoin scams and the like, so it's important to be cautious but friendly, much like how you'd approach an unfamiliar doge.
  89. Reddit supports Dogecoin not only through the dogecoin community. The co-founder of Reddit, Alexis Ohanian, accepts Dogecoin donations for crowdfunding efforts and is a big supporter of the currency otherwise.
  90. Much as there is doge, there is cate. Cate doesn't have a spokescat, however.
  91. One of the most famous meme cats is Grumpy Cat.
  92. Grumpy Cat arose to fame on Reddit in 2012 and has since become a cat celebrity of sorts.
  93. Dogecoins have been featured in street art, the most famous incidence being when an anonymous shibe started donating thousands of Dogecoins to people in San Francisco.
  94. FUD is an acronym for “fear, uncertainty, doubt.” It's bandied about in an effort to calm people down during spikes and lulls in the Dogecoin economy.
  95. The amount of Dogecoin raised to fund the Dogecar was 67.8 million Dogecoins, around $55,000 at the time of exchange.
  96. Before the Talladega race, dogecoin was a trending subreddit.
  97. The future of Dogecoin appears bright, but there's nothing factual to say about it: so many things can happen that it's impossible to predict any sort of growth trends.
  98. This list is 1,901 words long. Whew!
submitted by o_how_he_sings to dogecoin [link] [comments]

The Satoshi Network

The Satoshi Network
Director: David Fincher Writers: Aaron Sorkin (screenplay), Sahtor (reddit post)
Actors: Jesse Eisenberg as Mark Zuckerberg Armie Hammer as Cameron Winklevoss / Tyler Winklevoss Rooney Mara as Satoshi Nakamoto
Act one It's 2007 and Facebook is making final payment to Winklevoss twins ending their relationship forever. It's a rainy autumn day in a gray office overlooking the San Francisco bay. Mark Zuckerberg: You have the least amount of attention from me. My mind is thinking about poking people using RESTful API in PHP. We end this today and I win. Lawyer 1: Ok we have a settlement of 100 million dollars to both Cameron and Tyler Winklevoss. Lawyer 2: Our usual fee of 15% plus expenses should make this a done deal. Cameron: You're not the man I thought you'd be Mark. Tyler: Let's go.
Act Two It's 2012 and Winklevosses are searching for motivation to compete in the technology sector. The financial world is doing well but it seems boring. Tyler: Mark sold everyone's privacy. We shouldn't have accepted his money. Cameron: We're Harvard men. We can bring economic freedom to the world. Tyler: Facebook IPO is going to make investors millions maybe even billions. Cameron: Billion isn't cool, you know what's cool? Tyler: 100 billion? Cameron: Quadrillion Tyler: You mean Bitcoin. Let's invest some of that money on a system that will change the world. Cameron: I truly believe this will work. We can get 100 000 BTC right now.
Act Three It's 2017 and Bitcoin has gained popularity but mainstream still thinks it's a bubble. Quiet day at the offices of Winklevoss Capital Management is about to become chaotic.
Cameron: Reddit is reporting that security researchers at Greendale Institute of Technology have found a way to factor Rijndael keys in 253 bits. Tyler: This could lead to a death spiral for Bitcoin. Tyler: FBI is dumping their coins! The market can't handle this pressure. Cameron: SEC sent a letter for further inquiry on the ETF! Tyler: IRS is saying that we owe taxes on the BTC we bought on the basis of VAT ACT of 2016! Cameron: We're going to have to sell our Olympic rowing canoe to cover the cost. Tyler: :(
It's February 2017 and Youtube's most popular video of all time is about to be released. Satoshi Nakamoto: Hello everyone. I'm here to explain my reasons for making Bitcoin and staying away for so long. You see I had this murder mystery in Sweden that seemed really interesting. The block reward is about to halve to 12.5 BTC and I'm taking over the development of the Bitcoin protocol for as long as I have the capacity to do so.
Cameron: BTC/USD just crossed over $50 million. Tyler: Whats Facebook worth these days? Cameron: It's around 330 billion dollars. Tyler: Do you want to buy it?
End Credits
submitted by Sahtor to Bitcoin [link] [comments]

Zorhan Bassong Cheapest way to buy Bitcoin with Usd 80 Trillion Dollar Bitcoin Exit Plan Bitcoin gold to Usd converter This Generalist Investor Goes Long on Bitcoin Says USD 40K 100K Possible

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Zorhan Bassong

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