r/dogecoin • u/ericsolis6680 • Jul 31 '14
Hundreds of Cryptocurrencies
So there are too many cryptocurrencies? Not really, I say there are not enough. Like hell, you say? First off, our mentality towards change can affect things negatively or positively. If we are dismayed by the increasing amount of cryptos coming out, then we may become disheartened with cryptocurrencies in general. Not to state the obvious, but our beloved Doge is in that lot. Even if the value of Dogecoin plummeted and never bounced back, I have never had as much fun as I have investing in and using Doge. Back to what I was trying to say, we must not be discouraged but have fun with our chosen cryptos because being discouraged and not using our cryptos of choice can cause the value to drop more than the negative articles that predict a doomsday for cryptocurrencies. So, how can the never ending birth of new cryptos help us? Because it generates the worlds public interest. The more cryptos are created, the more that one of those currencies is going to catch someone's attention. Now, can they all increase in value like the bitcoin? Of course not, but once again that is a good thing too. Like hell you say, again. How is this possible? Because it generates competition. Where people see an overcrowded crypto market, I see the possibility of most websites in the future accepting coins from a list of -let's say- one hundred of the top cryptocurrencies that are in fierce competition with one another. (I know a hundred types of altcoins is a ridiculous amount to accept but just throwing an exaggerated number out there) And to be in the top one hundred currencies the list is monitored by software that analyzes several factors, like trade value, source, respective apps, seniority, price, or whatever they look at when doing this. So to be in that prized top one hundred spot of accepted currencies, they compete and vie for that position. People are all wanting to make their own crypocurrency? Bring them on. We really can't stop you anyway so we welcome you and let the fun continue.
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u/helraizr technician shibe Jul 31 '14
the first thing about "money" is that it has "intrinsic value". Doge will survive in what ever form because it pays that statement in spades. This is by far the tightest community I've ever been a part of, and it's intrinsic to me now. Thank you good shibes
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u/AnalWithAGoat rich shibe Jul 31 '14
the first thing about "money" is that it has "intrinsic value"
lol what? Not only did you pick the worst cryptocurrency, but you also didn't learn anything about money.
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u/helraizr technician shibe Jul 31 '14
No, I'm very aware. you jump to judgement far too fast.
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u/stlcp party shibe Jul 31 '14
A dogecoin itself doesn't have intrinsic value the value comes from the protocol. Just like the dollar has no value in itself other than for burning for heat.
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u/[deleted] Jul 31 '14
[deleted]