To the moon! DogeCoin fetches 300 percent jump in value in 24 hours

So this afternoon i got an email from my girlfriend who works as finance analyst for a casino that simply said "BUY DOGECOIN!". I must admit ive never heard of it so i did the usual google search and found many articles like this:

This is just getting ridiculous. Over the past 24 hours, Bitcoin alternative DogeCoin – a meme-based digital currency apparently created as a joke – jumped more than 300 percent in value, rising from $0.00026 on Wednesday morning to $0.00095 per DogeCoin, as of 8am ET Thursday morning. (That’s the greatest increase of any so-called altcoin over the same period. (Wow. Such currency!) Update: DogeCoin didn’t stop at 300 percent. A few hours later into Thursday, and it’s now up more than 400 percent. DogeCoin saw a momentary boost of around 360 percent before settling down a bit to just 315 percent. The current total market value of all DogeCoins in circulation is $8,776,590. The value increase has also boosted DogeCoin into the top 10 digital currencies on the market, launching it above Primecoin and Nxt, two popular Bitcoin alternatives.

Source


wiki dogecoin

So what started on December 6th as a joke originating from sites like 4Chan has now become the best performing crypto currency in the last few days. Its so dam cheep right now i think that a lot of people are thinking "why not, whats the worst that can happen?".

Im not advising people to buy , you can make up your own mind about that but I just bought 20000 on ebay for £29 as an experiment and was shocked to see the person selling them double his prices an hour later and then 30 mins later triple them.

With a max cap of 100 billion they are never going to get to BTC prices but there is certainly room for people to make some money with them.

I am introducing Mamatus coinage this week. They will be backed up with 100k in hard cash. I can not wait until I can sell mine off for a profit.....

This is simply getting silly. While I am no fan of the Federal Reserve Note at least it's corruption is traceable.....

So gold... Much value... Wow...
...Do want... Much treasure...
Wow... Such amaze... Many coin... Wow...

reply to post by PhoenixOD

All of the software is open source so starting a new currency is pretty much about as simple as setting up a website, git-cloning the source and re-branding or maybe working out some sort of "feature" to include. Most of these are scamcoins, designed solely to allow their creators a chance to pre-mine a bunch so that they can be later dumped on sketchy markets, and they won't go anywhere.

54 Crypto-currencies by market capitalization

1 Bitcoin
2 Litecoin
3 Peercoin
4 Namecoin
5 Quark
6 ProtoShares
7 WorldCoin
8 DogeCoin
9 Megacoin
10 Primecoin
11 Nxt
12 Feathercoin
13 Novacoin
14 Zetacoin
15 Devcoin
16 Infinitecoin
17 Digitalcoin
18 Freicoin
19 Copperlark
20 Ixcoin
21 Anoncoin
22 Terracoin
23 Cryptogenic Bullion
24 GoldCoin
25 BBQCoin
26 Deutsche eMark
27 Sexcoin
28 Fastcoin
29 Datacoin
30 Yacoin
31 Tickets
32 NetCoin
33 StableCoin
34 BetaCoin
35 FlorinCoin
36 I0Coin
37 GlobalCoin
38 Mincoin
39 GrandCoin
40 Diamond
41 Philosopher Stones
42 BitBar
43 TagCoin
44 Phoenixcoin
45 Bytecoin
46 Franko
47 Luckycoin
48 Noirbits
49 GameCoin
50 Argentum
51 CasinoCoin
52 EZCoin
53 CraftCoin
54 Junkcoin

reply to post by theantediluvian


So Dogecoin is number 8 after only 2 weeks!? Thats pretty impressive

If I wanted to throw say $1000 in to dogecoin, how do you go about it? I just googled "how to invest in dogecoin" but nothing good came back?

reply to post by jhn7537


I bought mine off ebay just because it was quicker and easier.

The current exchanges that handle DOGE/BTC exchanging are CoinedUp, Cryptsy and Coins-e.

reply to post by jhn7537


Best bet, eBay.

reply to post by PhoenixOD


On Ebay just found 100000 dogecoin's for $160.00 US.... Now imagine if the price ever gets up to $1 a coin or more.. Talk about a ROI.. I almost feel stupid if I don't take this risk...

Ok... Just created a DogeWallet. It looks like I can buy these coins and have them placed in that wallet. This is legit, right? Similar to Bitcoins?

Nonononononononononon

Just no

NO

There comes a point when even I have to just open my mouth and witness the strained silence.of disbelief.

If you want to lose money give me $1000 and ill go put it on ltc. That will cause the price to plummet once more and we can all cry sans the so meme

Winecaps. Guaranteed to the moon.

reply to post by jhn7537


yes you can.

With things like this i always say dont buy more than your are prepared to lose just to be on the safe side. Dogecoin will never reach Bitcoin like prices but you could make some money on them. Ive just invested about $100.

PhoenixOD
reply to post by jhn7537

 

yes you can.

With things like this i always say dont buy more than your are prepared to lose just to be on the safe side. Dogecoin will never reach Bitcoin like prices but you could make some money on them. Ive just invested about $100.

So you have close to 30000 coins?

got around 10k dogecoins.
Its actually climbing up
wow

reply to post by jhn7537


Yep i bought 30000 as an experiment

In Doge we trust XD

reply to post by jhn7537


If there is no maintenance or a worthy community behind it then probably not. As said anyone can compile the code with a few changes to make it different.

But to support it.. look at how feathercoin has become centralised as opposed to litecoin, which it was based on, as bushstar is not a good enough coder to resolve issues on his own and has had to rely on checkpoints to keep the blockchain secure.

The litecoin devs really tore him a new one and come across as complete.tossers, but they are right. And ftc is miles more profitable than doge.

I get the impression this is seriously just a prosession of uber lulz. Maybe mine them if you want. No loss of money then when no exchange or person wants them.

--- i am flabberghaated i had no idea there was already pools for it. All realtively ddossed or otherwise hindered, but oO

PhoenixOD
reply to post by jhn7537

 

yes you can.

With things like this i always say dont buy more than your are prepared to lose just to be on the safe side. Dogecoin will never reach Bitcoin like prices but you could make some money on them. Ive just invested about $100.

Hey Phoenix, so you seem to have a decent enough understanding of this. So I created a wallet at Dogewattet.com, now if I go to Ebay and say I buy 10000 coins for 25-30 US dollars I can then dump those coins into that wallet, right? I mean, the seller does that, but that's how it works? I see people with accounts setup at dogecoin.com, but I can't figure out that website yet, when I clicked on windows for my OS, it gave me a whole zip file that I didn't feel like getting into so I've kinda ruled out that website, but dogewallet.com seems simple enough... Thoughts?

Lol

winofiend
Lol

Hey, I don't know what's going on.. I just see this picking up steam and it has me intrigued... My usual "investing" motto is to never invest in anything you don't fully understand. Well, investing $30 is not make or break for me, so I'm okay with breaking my rule here.... I just have little to no understanding of what's going on, but oddly enough I'm excited...hahahhaa

reply to post by jhn7537


-I downloaded the wallet from here : bitcointalk.org...
-I bought the coins off ebay.
-I then had to message the seller the address of the wallet (you get it in the "much receive" section of the wallet) and he then deposited the coins into my wallet. It was all quite painless.

Make sure you pick a seller with a lot of good feedback.

I must admit ive never used a wallet before , i usually just trade Bitcoins on Mt.Gox.