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Of Wolves and Weasels - Day 325 - My 1 DOGE = 1 DOGE moment

Hey all, GoodShibe here!
So, how was your Black Friday? Did you snag many Shibe deals? Merchants, how did you make out? Was there any real uptick in sales?
There was an interesting post on /Bitcoin yesterday showing the difference that a year had made - a screenshot of the sub back when a Bitcoin was worth $1000 as a contrast to how the sub seemed now. One of the comments mentioned how the reaction this year seemed much more subdued and another even brought up Dogecoin directly and how their reaction was similar to when our price collapsed.
One of the important bits to keep in mind is that what’s happening to DOGE right now isn’t just happening to DOGE. Everyone is feeling the pinch -- Bitcoin moreso because their sub is constantly being brigaded by people who keep on slagging them and their efforts (sort of like we were in the run-up to us going AuxPoW).
With that said, we’re in an interesting position because we actually have one of the largest potentials to better our current situation. Bitcoin is already top dog, they’re on every major exchange. Moving 'forward' involves crossing over into full-blown USD Stock Exchanges.
The good news here, for us, is that considering our 3rd/4th place position in the cryptosphere, we actually have quite a bit of room to run… if we can get up and start running.
Which is why I’m taking time today to highlight an important project that I think every Shibe should get behind:
DogeHustle has created Doge808.com in an attempt to gain 808 signatures and petition the massive exchange OkCoin to start listing/ trading Dogecoin.
Right now they’ve got 225 signatures out of the 808 that they wanted but they clearly need not only our signatures, but our overwhelming support.
One of the key points that DogeHustle has made is that right now, because our volumes are so low, people can move the entire Dogecoin market with a few thousand dollars. That, of course, is not at all healthy and so the more people we can have actively taking part in trading Dogecoin the more resilient our valuations will be.
The reality that we’re facing is that people who don’t have a whole lot of crypto right now aren’t really a fan of parting with it when valuations, across the board, are so low. And with the future seemingly uncertain, people are holding back from buying in even though prices are low.
So what we end up with is this feeling that we're stuck in a holding pattern, the idea that we should just hold our crypto until someone else spends it or does the work necessary to bring the coin's valuation up again. Once it's back up, then it’ll be okay and we’ll be fine to start spending again.
It's like an awkward high school dance where everyone’s lined up against the wall, unsure of who’s going to be the first one to jump in.
Obviously it’s not THAT bad… but even in the conversations I’ve been having, there’s that sense of trepidation.
That worry of loss.
So, how do we combat that?
One of the most fantastic experiences I had recently came when I was doing some shopping at ShibeSeeds.com and I happened to click on the currency converter… and noticed that the currency could be set directly to DOGE.
So I did.
And you know what? I experienced a true, solid, 1 DOGE = 1 DOGE moment.
What I mean by that is that, for that entire shopping experience, I looked at the prices and I was considering if that gift pack of seeds was really worth 20k-ish DOGE to me. I considered each item and weighed it against how much DOGE I was willing to part with.
One of the things that I think has been harming our DOGEconomy has, essentially, been a massive case of 'Sticker Shock'. Doing all of the calculations in our head in USD or GBP or Euros and then converting that to DOGE and going 'WTF?!?' and freaking out at how much DOGE that's going to cost us.
By doing it the other way around, by seeing ONLY the DOGE price, not the USD price, I knew how much DOGE I was spending every step of the way and by the time I was done making my purchase… I was okay with it.
Only after I made my purchase did I stop and go ‘oh, how much was that in USD’? and then go back to check. And I was still okay with it.
So… how can we integrate this better?
What if a business could set it so that if a customer's entry page was, say, reddit.com/Dogecoin they AUTOMATICALLY displayed all prices in DOGE?
You come from /Bitcoin? Everything’s in Bitcoin.
/Litecoin? Everything’s in Litecoin.
And you do that for all of the common pages (bitcointalk, litecointalk, dogecoin.com, etc) that you can think of.
It’s small, subtle things like this that allow the consumer to evaluate, for themselves, what something is worth to them. How much of their coins they’re willing to part with.
And in that experience, that’s where our DOGEconomy has the potential to truly spread its roots and dig deep.
By seeing prices ONLY in DOGE or BTC or LTC we can decide for ourselves what’s fair to us. We can make our peace with the process and not only feel positive, but confident in the whole experience.
Confidence is exactly what we need, my friends. And one of the surest, simplest ways to gain it is to shed the USD unless we specifically go looking for it.
Merchants, please, take the time to know your audience. Figure out where we’re coming from, anticipate us, prepare for us and in doing so you help us to treat our cryptos like the currency that they are instead of a stand-in for USD.
And, if you do so, I suspect you will see not only MORE sales but more confidence from the sales you do make.
What do you think?
Is it worth a shot?
It's 8:01AM EST and we've found 96.16% of our initial 100 Billion DOGEs - only 3.84% remains until we reach our soft cap! Our Global Hashrate is down from ~1315 to ~1214 Gigahashes per second and our Difficulty is up from ~19287 to ~22083!
As always, I appreciate your support!
GoodShibe
submitted by GoodShibe to dogecoin [link] [comments]

The real cost of bitcoin?

Hi, I recently read an interesting post on the bitcoin forums about the electricity cost of keeping bitcoins secure. I did some of my own calculations base on figures from bitcoinwatch
kilowatts per gigahash * cost per kilowatt * network gigahash per hour = bitcoin running cost per hour 
So at 650 watts per gigahash at 15 cents per kilowatt hour.
0.65 * $0.15 * 13,300 = $1,297 per hour
Divide that by the number of transactions per hour (309)
1,296.75 / 309 = $4.20 per transaction. I was unable to find figures, but i can't imagine it costs anywhere near that amount for visa or paypal to process a transaction. When all blocks are mined won't bitcoin transaction fees need to significantly increase to cover these costs?
Or to look at it another way bitcoin miners will spend over $11 million dollars this year on electricity, which is 17.6% of bitcoin's market cap. In contrast the federal reserve printing budget is ~$650 million or 0.0812% of USD value.
A first glance this doesn't seem very efficient to me. This money is going straight to the electricity companies and not back into the bitcoin economy. Where does the money come from to pay for this and how is it sustainable in the long run?
submitted by richmad to Bitcoin [link] [comments]

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