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What experts have said about Dogecoin (DOGE)

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If you have been in the crypto space for more than a year, you know that every prediction and comment about cryptocurrencies in general usually has to be taken with pinch of salt. Whether Bitcoin hits the $1 million price mark or whether it crashes down to zero is pretty much anyone’s guess. However, there is one cryptocurrency apart from Bitcoin that has defied all predictions even baffling the expectations of its creators. That coin is Dogecoin (DOGE).

How it all began

Dogecoin was launched in 2013 by Billy Markus and Jack Palmer with the purpose of being a fun coin. Almost right after its launch, Dogecoin took on a life of its own spawning a community of sellers, buyers, miners, merchants, speculators, and beggars all in their thousands.

Currently, Dogecoin is ranked among the top 50 cryptocurrencies on CoinMarketCap with a market capitalization of over $300 million at the time of this publication. Dogecoin was meant to die a natural death after a couple of months of making rounds as the parody coin online. However, DOGE has continued to survive, growing in popularity even after attacks that saw Dogecoin holders lose millions.

So what value does this parody coin represent to the extent of it continuing to gain value even after years of being abandoned by its developers? Well, a couple of industry experts have weighed in on the matter and here is what they have said so far.

What experts have said about Dogecoin

To begin with, one of the reasons that seem to compel most newcomers into buying into altcoins is their low price. Well, at least that is what Lewis Tuff, the chief platform engineer at Revolut believes. According to him, new market investors are pumping money into cryptocurrencies like Dogecoin due to their low price tag in a bid to make gains when the coin get to a higher price mark.

This is not new in the market. In fact, it has a common name which is  “HODL”. Basically, an investor would prefer to hold a whole amount of Dogecoin instead of a fraction of Bitcoin. Currently, Dogecoin is priced at $0.003 and even though most experts like Mr.Tuff will advise against investing on cryptocurrencies based on their low price in the market, most newbie investors will naturally find it easier to HODL as opposed to conducting research and investing based on a platforms technicality.

The CEO of Eidoo (a multicurrency wallet development firm) Thomas Bertani, believes that altcoins such as Dogecoin represent a lack of research among new investors. To back up his claim, Alvara VP, Richard Asquith has also weighed in on Dogecoin in the past saying that it’s a “clear indication of speculation.” According to Asquith, speculators are in search of the next bubble and that is why altcoins such as Dogecoin are attractive only as speculation conduits.

Final word

No matter what the experts say about the parody coin, it’s pretty clear that it’s here to stay. Currently, Dogecoin developers have embarked on developing the platform once again after years of abandonment.  Plus Dogecoin has somewhat regained its popularity as the developers have already updated and released new protocols that allow exchanges and merchants like LazyPyramid accept Dogecoin as payment. For now, however, the future of DOGE is what every Shiba is waiting to see.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Reasons Why You Are Much Safer When Crypto Trading on Dexes

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While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.

During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.

Here are some reasons why you might want to consider doing the same.

1. True ownership of your coins

The crypto community has a saying: “not your keys, not your coins.” The saying is now more relevant than ever, but it does not apply on DEXes. Decentralized exchanges

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Crypto Billionaire Predicts Massive Price Growth by 2021

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Crypto prices are once again going up, and Bitcoin has just passed a major resistance level at $6,000. With a situation like that, it is not surprising that everyone in the crypto community is looking forward to the future, wondering what to expect in years to come. Many experts have already given their predictions, some more optimistic than others, but almost all bullish.

Crypto billionaire Mike Novogratz has always been very supportive of cryptocurrencies, and very bullish on Bitcoin. He recently stated that he sees the coins’ prices triple in the following 18 months, meaning that Bitcoin’s return to $20,000 might not be far away, according to him.

He noted that Bitcoin is back to $6,000 after its price hit as low as $3,100 only a few months ago. These days, Novogratz does not believe Bitcoin will return to such lows unless there is a devastating exchange hack or a major shift in regulations. Of course, there was a big hack that had the potential to damage the coin’s price, only days ago. The world’s largest crypto exchange by trading volume, Binance, saw a significant security breach which resulted in a theft of 7,000 BTC.

However, so far, the coin did not react negatively to this incident. While Novogratz believed that such an event would shatter the new confidence in BTC, it simply did not happen. However, he…

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Altcoins

TokenRoll (TKR) Platform Will Take Online Casinos to the Next Level

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Corporate executives are turning to blockchain technology more than ever in an attempt to revolutionize the business world.  Although blockchain is still a relatively new concept, that hasn’t stopped more and more companies from jumping on the bandwagon.  This hot new technology has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency, and low costs.  One industry that could certainly benefit from decentralization is the online gambling market, specifically, online casinos.  TokenRoll (TKR) has developed a platform that appears to offer a promising alternative to centralized casinos.

Problems with Centralized Casinos

The primary reason why blockchain technology is being implemented so quickly is because it solves a lot of the problems typically associated with the traditional business model.  And online casinos are no different.  It still needs to be said that centralized casinos have proven that there is a great demand for online gambling.  The market is growing faster than anyone could have predicted, and future opportunities appear very promising and lucrative.  But industries are continually evolving and this one is no different.

A few of the problems facing centralized casinos include the following:

  • Little to no transparency
  • Consumer lack of confidence
  • Privacy concerns
  • 48-72 hour wait time for withdrawals

These are four monumental issues that need to be addressed quickly given the global growth of the market.  Casinos need to…

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