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(Slate)   Such theft. Very scam. So fake currency. Wow/   (slate.com) divider line 122
    More: Amusing, Shiba Inu, fake currency, currency markets, security breaches, thefts  
•       •       •

11787 clicks; posted to Business » on 13 May 2014 at 9:52 PM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



122 Comments   (+0 »)
   
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2014-05-13 08:00:34 PM  
OBVIOUS tag out getting grammar lessons?
 
2014-05-13 08:05:30 PM  
So...is it "Dog"coin or "Doggie"coin?

/Such uncertainty.  Very confused.  Wow.
 
2014-05-13 08:48:31 PM  
What the motherf*cking HELL???

OK - how the hell does one even accumulate DogeCoin?  What does one spend it on?  And who the hell would think it had any value at all???
 
2014-05-13 09:16:34 PM  

PainInTheASP: So...is it "Dog"coin or "Doggie"coin?

/Such uncertainty.  Very confused.  Wow.


It's "dohj", almost like you're saying the first part of "dojo", but not quite -- a soft j/g sound.
 
2014-05-13 09:31:01 PM  

Donnchadha: PainInTheASP: So...is it "Dog"coin or "Doggie"coin?

/Such uncertainty.  Very confused.  Wow.

It's "dohj", almost like you're saying the first part of "dojo", but not quite -- a soft j/g sound.


I say "doe-JAY-coin". Mainly because I don't care.
 
2014-05-13 09:36:02 PM  

RIP
upload.wikimedia.org
Doge



/Thankfully, I avoid all these fiat currencies and conduct all my business transactions in gold.
//Bit of a pain in the arse making change for a pint of milk, mind.
 
2014-05-13 10:02:07 PM  

Benevolent Misanthrope: And who the hell would think it had any value at all???


That's the thing -- you just need to find enough suckers, the value part takes care of itself.
 
2014-05-13 10:03:11 PM  

Benevolent Misanthrope: What the motherf*cking HELL???

OK - how the hell does one even accumulate DogeCoin?  What does one spend it on?  And who the hell would think it had any value at all???


It's like bitcoin - people use a complicated computer algorithm to "generate" it and sell it to people who expect someone else to come along in a little while to buy it from them for a higher price.  Kind of like tulips in 17th century Holland or real estate in early 21st century US.
 
2014-05-13 10:03:51 PM  

meanmutton: Benevolent Misanthrope: What the motherf*cking HELL???

OK - how the hell does one even accumulate DogeCoin?  What does one spend it on?  And who the hell would think it had any value at all???

It's like bitcoin - people use a complicated computer algorithm to "generate" it and sell it to people who expect someone else to come along in a little while to buy it from them for a higher price.  Kind of like tulips in 17th century Holland or real estate in early 21st century US.


Except, of course, that real estate and tulips have some inherent value.
 
2014-05-13 10:09:17 PM  

meanmutton: meanmutton: Benevolent Misanthrope: What the motherf*cking HELL???

OK - how the hell does one even accumulate DogeCoin?  What does one spend it on?  And who the hell would think it had any value at all???

It's like bitcoin - people use a complicated computer algorithm to "generate" it and sell it to people who expect someone else to come along in a little while to buy it from them for a higher price.  Kind of like tulips in 17th century Holland or real estate in early 21st century US.

Except, of course, that real estate and tulips have some inherent value.


Paper money does not have inherent value either.
 
2014-05-13 10:11:45 PM  

talkertopc: meanmutton: meanmutton: Benevolent Misanthrope: What the motherf*cking HELL???

OK - how the hell does one even accumulate DogeCoin?  What does one spend it on?  And who the hell would think it had any value at all???

It's like bitcoin - people use a complicated computer algorithm to "generate" it and sell it to people who expect someone else to come along in a little while to buy it from them for a higher price.  Kind of like tulips in 17th century Holland or real estate in early 21st century US.

Except, of course, that real estate and tulips have some inherent value.

Paper money does not have inherent value either.


Paper money is backed by the full faith and credit of the government that issues it.  Dogecoin is backed by...?
 
2014-05-13 10:13:16 PM  

anfrind: Paper money is backed by the full faith and credit of the government that issues it. Dogecoin is backed by...?


Some anonymous people who wrote code?
 
2014-05-13 10:13:32 PM  
Suck shiat, reddit
 
2014-05-13 10:14:00 PM  

anfrind: Paper money is backed by the full faith and credit of the government that issues it.  Dogecoin is backed by...?


The internet. Duh.
 
2014-05-13 10:19:23 PM  

talkertopc: meanmutton: meanmutton: Benevolent Misanthrope: What the motherf*cking HELL???

OK - how the hell does one even accumulate DogeCoin?  What does one spend it on?  And who the hell would think it had any value at all???

It's like bitcoin - people use a complicated computer algorithm to "generate" it and sell it to people who expect someone else to come along in a little while to buy it from them for a higher price.  Kind of like tulips in 17th century Holland or real estate in early 21st century US.

Except, of course, that real estate and tulips have some inherent value.

Paper money does not have inherent value either.


Paper money is the only stuff you can pay taxes and fees in. And since the IRS counts barter as income you'll still need the fiat currency, no matter how much bad advice you take from lawyers already in jail.
 
2014-05-13 10:25:04 PM  
I'm sure the RAND PAUL fan at work will still try to tell me how cryptocurrency is so much more valuable than "fiat currency" issued by governments because it's rare.

/seriously
//that's the argument
///i usually zone out and stop listening before I hear if there's more to it than that
 
2014-05-13 10:27:11 PM  

anfrind: Paper money is backed by the full faith and credit of the government that issues it.


Threats

Dogecoin is backed by...?

Math
 
2014-05-13 10:28:48 PM  

The Bestest: anfrind: Paper money is backed by the full faith and credit of the government that issues it.  Dogecoin is backed by...?

The internet. Duh.


Don't spend it all in one place.
encrypted-tbn0.gstatic.com
 
2014-05-13 10:29:45 PM  
They have a racecar. I dont think bitcoin has a racecar.
 
2014-05-13 10:33:52 PM  
UnPossible; cryptocurrencies are wonderful, the wave of the future, super~duper, and an anti-fiat money!  And remember those sweet rules of the Internet from way back in 2005-08: "Netiquette" We were all going to follow the golden rule, and be nice to one another! Ouch! My wallet hurts, and my feelings are bruised; won't anyone think of the Children! They need another medal for showing us on Fark!
 
2014-05-13 10:34:24 PM  

Benevolent Misanthrope: OK - how the hell does one even accumulate DogeCoin? What does one spend it on? And who the hell would think it had any value at all???


Doge is supposed to be a dog trying to spell, so correctly it seems like it should be pronounced "dog coin" since dogs obviously know how dog is pronounced ("good dog!" "bad dog!" etc).   In practice, it's pronounced any way you want to since the point is not to take it too seriously.

So common variants are Doge like the car company, like "doggie", or  "doe je" with either a soft or hard "j"

Or "such wow, how pronounce?" to use the vernacular.

It has value because people believe it has value (just like any other form of currency) and because you're able to spend it in an increasing number of places.
 
2014-05-13 10:34:27 PM  

iron de havilland: RIP
[upload.wikimedia.org image 422x599]
Doge

/Thankfully, I avoid all these fiat currencies and conduct all my business transactions in gold.
//Bit of a pain in the arse making change for a pint of milk, mind.


I deal exclusively in chickens.  It can be a real pain when I only need one breast.
 
2014-05-13 10:41:11 PM  
Wow ... it is a strawman holocaust in this thread.
 
2014-05-13 10:50:55 PM  

talkertopc: meanmutton: meanmutton: Benevolent Misanthrope: What the motherf*cking HELL???

OK - how the hell does one even accumulate DogeCoin?  What does one spend it on?  And who the hell would think it had any value at all???

It's like bitcoin - people use a complicated computer algorithm to "generate" it and sell it to people who expect someone else to come along in a little while to buy it from them for a higher price.  Kind of like tulips in 17th century Holland or real estate in early 21st century US.

Except, of course, that real estate and tulips have some inherent value.

Paper money does not have inherent value either.


The government only accepts payment for taxes in its own dollars and if you don't pay your taxes they will kill you.

That's value.
 
2014-05-13 10:52:09 PM  
Was it translated from Russian?

Not surprised.  At least throw your money away at a casino, being stolen from like that seems painful.
 
2014-05-13 11:02:17 PM  
Wallet in cloud? Much dumb! So deserving it!
 
2014-05-13 11:05:10 PM  

macdaddy357: Wallet in cloud? Much dumb! So deserving it!


Exactly.
 
2014-05-13 11:05:52 PM  
I knew we were due for this headline.

pseudowho: anfrind: Paper money is backed by the full faith and credit of the government that issues it.

Threats

Dogecoin is backed by...?

Math


I hope your mom keeps the sharp objects well hidden from you.
 
2014-05-13 11:11:52 PM  
Isn't the whole point of dogecoin is that the participants don't take it very seriously?
 
2014-05-13 11:14:13 PM  

thetrenchcoat: Isn't the whole point of dogecoin is that the participants don't take it very seriously?


Sadly a buddy of mine built a PC to mine Dogecoin.  I wish I was kidding.
 
2014-05-13 11:15:57 PM  

thetrenchcoat: Isn't the whole point of dogecoin is that the participants don't take it very seriously?


i2.cdn.turner.com

I dunno, that looks pretty serious to me.

/such serious
//so wow
 
2014-05-13 11:16:07 PM  

talkertopc: meanmutton: meanmutton: Benevolent Misanthrope: What the motherf*cking HELL???

OK - how the hell does one even accumulate DogeCoin?  What does one spend it on?  And who the hell would think it had any value at all???

It's like bitcoin - people use a complicated computer algorithm to "generate" it and sell it to people who expect someone else to come along in a little while to buy it from them for a higher price.  Kind of like tulips in 17th century Holland or real estate in early 21st century US.

Except, of course, that real estate and tulips have some inherent value.

Paper money does not have inherent value either.


You can light cigars with it.  Therefore it does have some value
 
2014-05-13 11:16:46 PM  

Donnchadha: PainInTheASP: So...is it "Dog"coin or "Doggie"coin?

/Such uncertainty.  Very confused.  Wow.

It's "dohj", almost like you're saying the first part of "dojo", but not quite -- a soft j/g sound.


It's not "dohj"...


------------------------

PainInTheASP: So...is it "Dog"coin or "Doggie"coin?

/Such uncertainty.  Very confused.  Wow.


It's closer to "doggie", but it's more "dog-eeh"

The "Do" part is like the do in "dog".
The "Ge" part is like the "ghe" of "ghetto"
 
2014-05-13 11:20:43 PM  

Flappyhead: thetrenchcoat: Isn't the whole point of dogecoin is that the participants don't take it very seriously?

Sadly a buddy of mine built a PC to mine Dogecoin.  I wish I was kidding.


Look on the bright side.  When the dogecoin bubble finally bursts, at least your buddy will have a PC that can run Crysis at the highest settings.
 
2014-05-13 11:23:25 PM  

pseudowho: anfrind: Paper money is backed by the full faith and credit of the government that issues it.

Threats

Dogecoin is backed by...?

Math


Translation: You don't understand math, economics, or programming. Neat.
 
2014-05-13 11:23:43 PM  

anfrind: Flappyhead: thetrenchcoat: Isn't the whole point of dogecoin is that the participants don't take it very seriously?

Sadly a buddy of mine built a PC to mine Dogecoin.  I wish I was kidding.

Look on the bright side.  When the dogecoin bubble finally bursts, at least your buddy will have a PC that can run Crysis at the highest settings.


Actually he had to promise his girlfriend he'd sell the graphics cards to try and recoup his losses.
 
2014-05-13 11:25:46 PM  
The legend has it the pronunciation of doge comes from this Homestar Runner bit.

http://youtu.be/tLSgRzCAtXA
 
2014-05-13 11:27:59 PM  

rocky_howard: Donnchadha: PainInTheASP: So...is it "Dog"coin or "Doggie"coin?

/Such uncertainty.  Very confused.  Wow.

It's "dohj", almost like you're saying the first part of "dojo", but not quite -- a soft j/g sound.

It's not "dohj"...


------------------------

PainInTheASP: So...is it "Dog"coin or "Doggie"coin?

/Such uncertainty.  Very confused.  Wow.

It's closer to "doggie", but it's more "dog-eeh"

The "Do" part is like the do in "dog".
The "Ge" part is like the "ghe" of "ghetto"


Wait. That means you pronounce "ghetto" as "geeh - toe"?

because I prounounce it as "gett - toe".
 
2014-05-13 11:44:09 PM  
Good. Bitcoin is bullshiat.
 
2014-05-13 11:46:51 PM  

Nix Nightbird: Wait. That means you pronounce "ghetto" as "geeh - toe"?

because I prounounce it as "gett - toe".


Why would you do that? It's pronounced like "getup" without the p.
 
2014-05-13 11:50:04 PM  

Flappyhead: thetrenchcoat: Isn't the whole point of dogecoin is that the participants don't take it very seriously?

Sadly a buddy of mine built a PC to mine Dogecoin.  I wish I was kidding.


He'd be much better off using a scrypt ASIC at this point. I built a PC to mine crypto last year and happened to mine Doge right after it launched (before the difficulty was driven waaaay up by everybody mining it) and used the proceeds to build a second, the money from those to build a third, and now I'm switched over to ASICs exclusively because of electricity costs.

Your buddy's mistake was building the PC to mine Doge specifically -- that means he did it after it became popular and the difficulty was driven way up. Not likely to produce enough coins to be worth it unless he's holding them for the long term and Doge gains a lot over time.
 
2014-05-13 11:57:46 PM  

Flappyhead: I knew we were due for this headline.

pseudowho: anfrind: Paper money is backed by the full faith and credit of the government that issues it.

Threats

Dogecoin is backed by...?

Math

I hope your mom keeps the sharp objects well hidden from you.



Snarcoleptic_Hoosier: pseudowho: anfrind: Paper money is backed by the full faith and credit of the government that issues it.

Threats

Dogecoin is backed by...?

Math

Translation: You don't understand math, economics, or programming. Neat.



The "threats" comment was semi tongue-in-cheek.  Although I think a reasonable argument could be made that the only reason the dollar is perceived to have value is because of the military-industrial complex, hence only semi.

The "math" comment is in reference to the fact that Doge (like Bitcoin) is proof of work and math is used to validate transactions using a decentralized "trustless" system.

Try reading the original Bitcoin whitepaper to understand better (PDF).
 
2014-05-13 11:59:09 PM  

BKITU: OBVIOUS tag out getting grammar lessons?


Someone need to know their memes.

http://knowyourmeme.com/memes/doge
 
2014-05-13 11:59:27 PM  

Farking Canuck: macdaddy357: Wallet in cloud? Much dumb! So deserving it!

Exactly.


You two still write checks don't you? admit it. This new fangled electronic currency thing, it's a bit confusing. I know. I've been behind you at the supermarket, with you BIC pen and your quaint check ledger.
 
2014-05-14 12:08:32 AM  
Just in case people aren't familiar with Bitcoin (or whatever your coin of choice is) farms.
www.xodustech.com
 
2014-05-14 12:38:43 AM  

Donnchadha: It's "dohj", almost like you're saying the first part of "dojo", but not quite -- a soft j/g sound.


I think it's best pronounced like the ruler of Venice.
 
2014-05-14 12:39:54 AM  
pseudowho: The "threats" comment was semi tongue-in-cheek.  Although I think a reasonable argument could be made that the only reason the dollar is perceived to have value is because of the military-industrial complex, hence only semi.

The "math" comment is in reference to the fact that Doge (like Bitcoin) is proof of work and math is used to validate transactions using a decentralized "trustless" system.

Try reading the original Bitcoin whitepaper to understand better (PDF).


I am aware of the math behind bitcoin et al.  It's a cool idea, but as a currency it has a lot of shortcomings that make it only slightly more useful than gold coins.

Which may explain why the gold bugs tend to be particularly fond of bitcoin.
 
2014-05-14 12:45:56 AM  

Snarcoleptic_Hoosier: Translation: You don't understand math, economics, or programming. Neat.


The interesting thing about dogecoin is that, unlike bitcoin, inflation was built into the algorithm. Bitcoin was set to release at a fixed rate, making it inherently deflationary over time.

So here we have two wonderful theories on currency management running side by side in semi-controlled experiments, and we get to analyze in real time which one is better for economies long and short term. If only they hadn't been hacked.
 
2014-05-14 12:52:53 AM  

Repo Man: Just in case people aren't familiar with Bitcoin (or whatever your coin of choice is) farms.


Better not sneeze near that sum'biatch...
 
2014-05-14 12:59:31 AM  
I don't know what a reddot is, but because these -coiny things can supposedly be used to evade financial reporting laws, facilitate money-laundering, trade in prohibited items, etc. ... wouldn't the governments that support the World Bank and participate in currency exchange see them as a threat to their tax base and ability to regulate markets?  For the same reasons they decided not to tolerate Swiss bank reticence any longer?  Where is the crypto-currency truther movement accusing shadowy agencies of doing these 'robberies' themselves to discredit the -coins in the interests of?  Let the lack of evidence not hold them back.
 
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