Dogecoin is dead. What killed Dogecoin is the same thing that’s killing Bitcoin — At the heart of “cryptocurrencies” is the crypto, a difficult mathematical problem called a hash function. Hash functions take an input, and transforms it into a unique output of fixed length. Even changing the input minutely, should alter the output greatly, meaning it is extremely difficult to reverse the operation, and thereby find the input.

Cryptocurrencies require “miners” or people who’ve donated computing power the network. When a transaction is made, it’s recorded in a public ledger called a blockchain.

Mining is dead. (Which is why you will see 1 Doge = 1 Doge used frequently) Strong positive community. Is Dogecoin Dead? How to mine dogecoins? Find out in Dogeminer: The Dogecoin Mining Simulator.

Miners compete to be the first to solve the mathematical problem, and the winner gets a coin and a small transaction fee for their work. This is supposed to decentralize the network, and make it impossible for any one group to get control of the entire network. The Bitcoin protocol is built to automatically make the mathematical problem more difficult to solve every 2 weeks or to keep up with hardware advances or if the network gets too powerful. HTMLCOIN HTML Mining With Gtx 1070 here. So while Mom’s desktop used to get a Bitcoin an hour in 2008, you’ll now be more likely to get one per decade, if you’re lucky. Bitcoins use the SHA-256 algorithm, while Dogecoin and Litecoin use scrypt. This difference is important.

Then ASICs appeared on the market. ASICs or Application Specific Integrated Circuits are highly specialized circuits.

They can do one task, and one task only, but because they’re optimized for that task, they’re extremely good at it. ASICs developed for the express purpose of solving the SHA-256 hashes can easily outclass any conventional computer. Regular people are now sidelined by huge mining pools, massive numbers of ASICs hashing at a colossal pace, using huge amounts of electricity. This places the blockchain in the hands of a few rich individuals who can afford to deploy these clusters. It’s gotten so bad, the Bitcoin or the difference between what miners gain from transaction fees processing the public ledger and mined Bitcoins from the estimated cost of hardware and electricity currently stands at -583%. For every $1 a Bitcoin miner earns, he loses around $6 in hardware and electricity costs, in July he could stand to earn $0.10, that was 5 months ago. Dogecoin and Litecoin use scrypt, which is an algorithm developed to use a lot of memory, and is supposed to make custom ASIC hardware too costly to produce.

Theoretically that should avoid the ASIC arms race that has now made Bitcoin mining impossible for normal people, decentralize the network, and avoid any one group from taking over. Now UK based Alpha Technologies says they’ve developed and are selling the world’s first ASIC scrypt miner. The popularity of Dogecoin is its downfall. All of those people gleefully mining dogecoins on their PCs are screwed. The Winkelvii will soon own a warehouse in Hong Kong filled with these ASICs, hashing at astronomical rates, gaining control over the network, and burning even more electricity to math at a meme. Such futility.

PS: All your Dogecoins were probably just anyway. Alpha Technologies is a scam. ASIC's wont' be on the market for scrypt coins anytime soon. If you know something different then you should include your sources in the above written post. Additionally, you appear to have a chip on your shoulder against Dogecoin. The title of your post summarizes your bias, but there is also the conclusion statement where you state that 'all your Dogecoins were probably just stolen anyway'.

You come across as an ill informed and bitter person. Try not to be so miserable in life.

Happy New Year. The numbers for the ASICs do not add up. You get an ASIC with 5000 kHash (5 MHash) for rougly 1650€. A typical graphics card now runs between 350 and 750 KHash. The best case scenario is that you can today build a rig with 7 cards at 750 kHash with the same amount of money (rough numbers). Also they will deliver in Q2 or Q3 probably.

Did I mention it's fun to build stuff and not buy ready plug 'n play shit. LTC: LWfi3sWpuo8UuTX7C6NuHugcG4RcMiZnLi DOGE: DMcBKabyYmdQ3vKv37qb9oFY9ThFZGJqCH TIPS: EQbGcvBv13zeezvVRSiTCTryQU9qcfEU8g. This article makes absolutely no sense. Did ASIC's kill bitcoin? Apparently not.

Because there is virtually no correlation between ASIC development and bitcoin price. ASICs affect mining profitabilty. Profitability and price are disconnected, as we see with bitcoin pricing. Bitcoin mining profitability fell considerably, yes, but did the bitcoin price fall with it? No dumbass, it went up dramatically.

And this line: 'Now UK based Alpha Technologies says they’ve developed and are selling the world’s first ASIC scrypt miner.' Alpha Tech is selling vaporware, they don't claim to have finished products. They themselves admit they won't be able to ship anything until 2nd or 3rd quarter 2014 at the earliest, and they can't even show a video demo of a product.

Six to eight months from now is an eternity in a market like this. So the Net Present Value (NPV) of the products Alpha Tech MAY ship someday in the future approximately zero. And this comment 'The popularity of Dogecoin is its downfall.' LOL Let's see yes, based on that logic, the US dollar is quite popular therefore it's worthless. In fact the opposite is true.

The more popular a currency is, the greater the demand, the greater the price increase, hence, the doge is going to the moon. Are you associated with Alpha Technologies? I ask because seriously you are really clueless about both general economics and crypto currencies. If you set up a dogecoin wallet let me know and I'll send you some dogecoins so that when it goes to the moon, you'll still feel stupid for writing this but at least you'll be able to ride the doge rocketship to the moon with the rest of us. AlphaCoin's mining rig is very interesting and credible. The stats and their partners add up (even if it does prove to be a scam) If anything should reassure people GPU mining of scrypt coins will be around for quite a while yet. Delivery time is scheduled Q2 to Q3, so it doesn't exist yet, they are looking for £350 deposits to fund development by an Indian engineering firm who specialise in FPGA devices..

It will be based on a FOGA (not an ASIC) although FPGA can be considered a proof of concept for an future ASIC design. Performance will be 5MH/s, at a cost of £1350+VAT+Delivery. I was lucky enough in Decemeber to buy 3 x AMD HD 7990 GPU's for £750 plus VAT which deliver 4MH/s The 3 GPU's have a combined memory of 18GB Iand I suspect that memory is one of the main things limiting their FPGA miner to 5MH/s, Sxrypt mining is memory intensive. At todays prices in the UK it would cost around £2100 + VAT to build 2 rigs with a combined hash rate of over 5MH/s (using 6 x AMD 290X GPU's and by Q3 this price will have come down.

If scrypt difficulty rates follows Bitcoin then 90% of the profit from a rig is mined in the first 6 months. So it is likely to be much more probably more profitable to build one of these rigs now with the £1350 and mine at a considerably lower difficult rate than wait up to 9 months. It is debatable these FPGA miners will ever pay for themsleves. The only impressive statistic about this FPGA miner is the power consumption, 100W compared to maybe up to 2000W for the GPU equivalent. So my advice now in Jan 2014 is to build a rig of your own now with the money, all these FPGA miners will do is cause you to stop minining a little earlier, but only after you got more than 90% of the profit out of your rig anyway. This advice will change when these FPGA devices are close to launch, but they are not going to eliminate GPU mining this year They will never have the massive performance advantage over GPU's that SHA256 ASICS do with Bitcoin.

The only clear perfomance advantage I see is in power consumption, but I am no engineer and don't know how credible the figure of 100W for 5MH/s is. The other cliam that ASSICS will deystroy Dogecoin has no bearing on reality. Bitcoin is only profitable to mine via ASIC now, and it's price is still rising, heading back to $1,000 at the moment after the fall due to the setback in China. MAybe the opposite happens, when perople can't make enough coins on their PC's they buy them instead? There are compelling arguments for a cryptocurrency, not subject to QE, not requiring overseas transfers go through SWIFT in the US, take days and and have costs of several 10's of dollars, not subjet to the credit and debit fcard transaction costs (Tax imo) that visa and mastercard levy.

There is no case for unlimited crptocurrencies however. Most will die, only some will make the transition to a currency you can easily buy goods and services with.

Will dogecoin be one, I don't know. Larger number of coins and faster confirmations are the 2 compelling arguments over Bitcoin. Bitcoin is the credible grandaddy, but for buying coffee in starbucks, it has to be a faster, more numerous currency.

How many people can conver.00003124btc or 3124 satoris to their local currency and know if it is enough to buy coffee. There are no asics for DOGE (SCRYPT) at the moment so they can't be responsible for the death of doge and they certainly aren't for any problem bitcoin might have, how the heck did you came up with this bullshit? 'The Bitcoin protocol is built to automatically make the mathematical problem more difficult to solve every 2 weeks' No, just no 'massive numbers of ASICs hashing at a colossal pace, using huge amounts of electricity' ASICs are more efficient, they use less power, what the heck are you smoking? ' For every $1 a Bitcoin miner earns, he loses around $6 in hardware and electricity costs, in July he could stand to earn $0.10, that was 5 months ago' Very rarely people mine at a loss, just know that 'PS: All your Dogecoins were probably just stolen anyway.' Shitty online wallet gets hacked and 12000 USD in DOGE are stolen, when doge has 6 MILLION DOLLARS of market cap, but ALL the dogecoins are stolen awww go f**k yourself.

Dogecoin has also sponsored a Nascar driver. You can see their logos and colors in the car.

I think these are strong moves from Dogecoin and I’m wondering why other coins haven’t done so many similar projects. They give a positive image for the coin and make good for the world at the same time.

Dogecoin Community Has the Reputation of Being Super-Friendly #5 Dogecoin has for a long time had the biggest cryptocurrency community in the world right after Bitcoin. Members have been in active on Reddit and on many other forums. You know that countries have some kind of a reputation. Germans are known to be strict, Finnish people are serious, Africans are laid back, Americans are competitive and want to succeed, Asians are polite and so on.

Dogecoin community has a reputation that they are extremely friendly and welcoming for new members. This is, of course, a good thing for Dogecoin because new members will more likely want to join and invest money on Doge. Then the value will continue rising. Dogecoin Market Cap Has Been Over $435 Million #6 “It’s just a joke coin. It will never have a real value.” Well, that may be true but this joke has had value for more than $435 million.

I don’t know how much is your net worth but I guess that $435 is quite a lot of money for you. When we moved to the end of 2017 the value went down from $420 million but its still measured in hundreds of million dollars. That’s exciting. Imagine that you would have invested $10,000 on Dogecoin on February 2017. Then you would have held the coin for one month and sold all. Guess how much money you would have then?

From $10,000 to $220,000 in one month wouldn’t sound bad at all. If you think that investing $10,000 in cryptocurrencies is a huge sum, I have more than $30,000 in cryptos and I know people personally who have millions of dollars in cryptocurrencies. So, $10,000 isn’t that big sum for many.

Dogecoin Has Been Largely Used for Tipping Online #7 Did you read a great article online and wanted to reward the writer with a little tip? Or did you watch an interesting stream on Twitch and you would like to support the creator? This is where Dogecoin comes into play. Is Dogecoin Worth Investing? – Are Cryptocurrencies Just a Bubble? Prices have gone rapidly up and a big part of people say that it’s just a bubble.

I don’t agree because when I compare cryptocurrencies to banking systems, there are many benefits. But I do believe that some cryptocurrencies are just a bubble. People buy them with the hope of getting rich quickly without studying the real nature of the coin. Beginners Guide To Bitcoin Gold BTG Mining there. Without a real value, any coin can’t continue rising in the long term. It has to have some benefits to people’s everyday life in order to continue strong for years. Many people compare cryptocurrencies to a dot-com boom what happened around 15 years ago.

A huge number of tech-companies grew immensely in value. The stock market reached new records every week and people were excited. Many new millionaires were born daily all around the world. But in 2003 the bubble burst and many companies went bankrupted. People were in panic and sold their investments. While others had won millions, now there were people who lost millions.

When the fog has cleared there many companies had disappeared but some were still making strong. Amazon and Google were just two example. If you would have invested even some money in those two 15 years ago, you could be a millionaire today. I believe that there will be some momentarily crashes in the cryptocurrency world when people panic. Then is probably the best time to buy and make big profits. I believe that there still will be those “Amazons and Googles” of the cryptocurrency world afterwards that will maintain the value and keep growing even stronger.

Which one are the strongest investments in your opinion? Let’s discuss below! What do you think about Dogecoin? Is it worth buying or not?

How Much the value will be in the future? Let me know in the comments below!