Another way to buy Crypto ( BTC )

A really important part of understanding the potential of a successful crypto is digging into the market cap.
Bitcoin is technically one of the largest currencies on the planet at the moment...because it's the 'gold' of crypto. It's rare and there isn't that much more to be 'mined' but it will take a while to finish mining it because it becomes exponentially more difficult. It's market cap will be over a trillion dollars.

The simplest way to explain is that for people saying DOGE coin will hit $100 (currently it's 60 cents)...well that would mean that DOGE's market cap would be over 15 times the size of bitcoin's...highly unlikely lol. Based on the total number of coins which can ultimately be mined and their potential values.

Some crypto's doomed to fail are ones which have theoretical market caps based on ultimate total of coins which are in outer space...Some small coin which will mine so many coins it would potentially have a quadrillion dollar market cap...well that's bigger than the planet's total cash.

For perspective...Bitcoins are being mined at the rate of about 1 every 10 minutes and slowly taking longer and longer...DOGE coins are being mined in the thousands per minute.

Here's a fun tool... you choose a crypto and it will guess what the theoretical max price is per coin based on the total number of coins which can be mined by other cryptos and compare the market cap prices. The simple way to think of it is that if the total bitcoin market cap is a trillion dollars once there are no more bitcoins to mine...it's unlikely other cryptos total coins will be worth that much.

For example...if the total number of DOGE coins when DOGE coins run out is worth as much as bitcoin's market cap than DOGE coins will be worth about $8 a piece. If DOGE coin's market cap is similar to Ethereum when it runs out than DOGE coins will be worth about $3 a piece. If Ethereum is worth as much as Bitcoin when it runs out it will be around $9000 per coin, but it's likely to have a lower market cap than Bitcoin.
Hopefully I'm making sense here! Here's the tool https://thecoinperspective.com/?c=ETH

 

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Elon Musk warns crypto fans to 'invest with caution' as Dogecoin explodes

https://tinyurl.com/y2huhcaa

 

In Response, and I think one of the most important things to consider between
the two is BTC has a limit of coins that are available to be mined where there's
not with dodge ( a major difference ) a simple supply and demand issue if the
creator of dodge coin would have made a realistic attempt to limit the coins available then it might give the consumer some credence, however it was
created as a joke and remains to be in the eyes of many, and is simply driven
by the millennials, there on the Reddit forums proping up stocks like Game stop
AMC and Nokia just to name a few all have dropped substantially from there
highs.

 

The market cap of DOGEcoin is just under 80 billion dollars.
The concept of endless mining is to discourage certain predicted behaviors, like hoarding and to encourage the mining.

Blatantly stolen from a reddit post lol...

For people who say Dogecoin is "unlimited" or "permanently inflationary" Answer:

1. ⁠Dogecoin supply inflation is currently 3.9% per year, and it falls every year.
2. ⁠Over time new supply eventually would fall to an arbitrarily low value (0.0000000000001% per year, etc) but can never reach exactly 0%.
3. ⁠There are always coins lost due to abandoned dust and lost keys. At some point (and maybe already) these lost coins will outweigh the new supply. Therefore Dogecoin is a deflationary coin.

Elon Musk expressed this point succinctly when he wrote: "Doge appears to be inflationary, but is not meaningfully so (fixed # of coins per unit time), whereas BTC is arguably deflationary to a fault."

For people who say Dogecoin has "No Cap" Answer: Dogecoin has a cap, and that cap is 10k per block. It is not like fiat which lacks a cap because the supply can be adjusted at any point. Doge's new supply is fixed eternally at 10k per block. This amounts to 3.9% supply inflation in 2021, and every year it gets lower, but it never gets to literally 0%.

Elon Musk expressed this point succinctly when he wrote: "Doge appears to be inflationary, but is not meaningfully so (fixed # of coins per unit time), whereas BTC is arguably deflationary to a fault."

 

Well there is no doubt that Elon Musk has taken dodge to a whole new level
calling him self the 'Dodge father" but I think you need to ask yourself why
hasn't he got physically invested in it ? like BTC where he put in 1.5 Billion in
and netted a return of 101 million dollars actions do speak louder then words
and until he makes the type of investment that he did with BTC I will only
monitor the situation, will see what direction it heads in the next week or two
especially after tonights Saturday Night Live airing.

 

How do we setup up crypocurrency forum? Cointalk will benefit cryptocurrency forum.

https://www.dailymail.co.uk/news/ar...le-Ford-Twitter-ahead-Elon-Musks-SNL-gig.html

https://www.dailymail.co.uk/news/ar...ss-magical-dog-meme-cryptocurrency-soars.html

 

Ask a mod?! I'm guessing if they see enough discussion that's how they might decide to try a particular forum topic...?

 

will do.

 

cryptocurrency forum request
https://www.cointalk.com/threads/new-cryptopcurrency-forum.380316/

 

VanEck Fires Starting Gun in Race for First U.S. Ether ETF

https://www.bloomberg.com/news/articles/2021-05-07/vaneck-fires-starting-gun-in-race-for-first-u-s

 

Canadian Cryptocurrency ETFs Are Showing Monster Trading Volume

https://www.etftrends.com/crypto-ch...urrency-etfs-showing-monster-trading-volumes/

 

Theres nothing like talking crypto

 

Dogecoin falls 22% during SNL after Elon Musk calls it a 'hustle':

https://www.dailymail.co.uk/news/article-9558407/Elon-Musk-delivers-SNL-monologue.html

 

well I watched SNL last night hoping that Elon Musk would instill some confidence
in dodge coin, his only reference was he was going to give some to his mother for
her birthday, but she replied " I hope not" after the airing results.

 

>>>>In Response, and I think one of the most important things to consider between
the two is BTC has a limit of coins



But a single coin can be divided an infinite amount of times....Great for the investor but horrible for a currency.

...one day there will be a household name for a billionth of a coin if it ever really did catch on.

 

According to CNBC, Elon Musk has announced that Tesla will no longer accept Bitcoin, citing “environmental concerns” — the amount of power used to mine BC.

 

More on Musk and Bitcoin. From Marketwatch:

https://www.marketwatch.com/story/t...ted-due-to-energy-usage-of-mining-11620858326

 

Anything to keep himself in the news...

I wonder if he realizes that Doge is also mined...

 

A little FYI for the uneducated, I dont invest in dodge, never have never will, was simply posting results after MR. Musks appearance on SNL, many thought it would help but obviously it didnt, and I am always in the news..LOL and I dont care who
likes it ! way to many trolls on this site with nothing better to do, bring it on !!