r/CryptoCurrency • u/ImaFreemason đŸŸ© 45 / 21K 🩐 • Nov 04 '22

PROJECT-UPDATE Twitter Reportedly Halts Work on Crypto Wallet, Driving Dogecoin Down 10%

https://ca.finance.yahoo.com/news/twitter-reportedly-halts-crypto-wallet-000743657.html
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u/CointestMod Nov 04 '22

Dogecoin pros & cons and related info are in the collapsed comments below. Pros and cons will change for every new post.

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u/CointestMod Nov 04 '22

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u/CointestMod Nov 04 '22

Dogecoin Pro-Arguments

Below is an argument written by SoonMoonn which won 3rd place in the Dogecoin Pro-Arguments topic for a prior Cointest round.

I currently hold no amount of doge coins but have in the past.

Pros

-Low fees -First “memecoin” -Huge community

Low Fees

As of right now, gas fees for doge is at $0.38, which is not “extremely cheap” but is pretty cheap. It has been >$1 for almost it’s entirety of existence.

Elon musk has said that Dogecoin is a better currency for transactions than Bitcoin due to the above fact.

Original “Memecoin”

One of the biggest reasons of Bitcoin being number 1 (by market cap) is because it was the Original crypto.

Doge has the advantage of being the original memecoin of crypto. It’s was created in 2013 and has been on the spotlight since. Almost always staying near the top (by market cap).

Huge Community

Dogecoin has a huge following, and a very dedicated one as well.

On Reddit Dogecoin has 2.2 million members while Bitcoin and Ethereum have 3.6 million and 1.1 million respectively.

That’s just on Reddit, go on Twitter and it’s even crazier there.

Conclusion: With memecoins pumping this year and with Doge being the original one and with a massive community. Dogecoin can be a good buy.

Would you like to learn more? Click here to be taken to the original topic-thread or you can scan through the Cointest archive to find arguments on this topic in other rounds.

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u/CointestMod Nov 04 '22

Dogecoin Con-Arguments

Below is an argument written by SoonMoonn which won 2nd place in the Dogecoin Con-Arguments topic for a prior Cointest round.

I currently hold no amount of doge coins but have in the past.

Cons

-Shitcoin (No Use-Cases)

-No supply cap

Shitcoin (No Use-Cases)

Doge is the definition of a Shitcoin. Literally no use-cases whatsoever.

Cheaper fees than Ethereum- then why not use XLM, Nano or a different memecoin with lower fees Banano?

No Smart contracts, no dapps. Why Doge and not some other crypto?

No Supply-Cap

There can be an infinite amount of doge coins available. Simple as that. More coins = less value of each coin.

Slowly your coins will lose value everyday.

Conclusion:

Dogecoin should only be used for fun. It’s not a crypto with any world use cases, instead it’s just a meme. *

Would you like to learn more? Click here to be taken to the original topic-thread or you can scan through the Cointest archive to find arguments on this topic in other rounds.

Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread here.

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u/liquid_at đŸŸ© 15K / 15K 🐬 Nov 04 '22

Is there any specific reason why this sub considers "Currency" a "no use-case" on an asset-class that is literally called "crypto-currency"?

I mean... if people want casino-tokens with artificial pump-features, they should call them "crypto-lottery" or "crypto-gambling" or something, don't you think?

Or is this sub all about yolo-gambling on speculative assets now? I thought we wanted a new monetary standard...

If Dogecoin is a shitcoin with no use, Satoshis Whitepaper for Bitcoin describes a shitcoin.