10 ms·

Dogecoin Tutorial

119 points by kbouw 13y ago

davidw 13y ago
Does it include information on the market manipulation? https://news.ycombinator.com/item?id=7126153 https://news.ycombinator.com/item?id=7126153
- blakeja 13y ago
  Thank you, those were my thoughts exactly when I saw the headline. Those kinds of problems lead me steer wide and clear.
  - anthonylebrun 13y ago
    It's also going to be much harder once the currency has any sort of significant financial value. This kind of manipulation is only easily possible at the early stages.
    - neals 13y ago
      They'd better hurry then, since all the coins will be mined soon
  - kordless 13y ago
    I continuously trade DOGE into BTC. Since starting a little over 4 weeks ago, I've made a significant amount of BTC via DOGE. I'm about 1/2 way through paying off my rigs, give or take. I also missed out by not holding DOGE before the massive run up, but I'm cool with that.
- kbouw 13y ago
  I'll write a section up for this, thanks for the link and suggestion.
- minimax 13y ago
  If anything that is just evidence of how thinly traded and amateurish these "markets" are.
- barce 13y ago
  This is a good thing to put in there. Crypto-currencies are prey to all the manipulations of exchanges 100 years ago. Ya, that's what happens when you create unregulated virtual gold. A trader explains it here: https://news.ycombinator.com/item?id=3787375 https://news.ycombinator.com/item?id=3787375
- lvs 13y ago
  These things aren't really working out terribly well for the manipulators. There's not as much panic selling as their sub-market dump needs in order to turn a profit. (All they're really doing is relinquishing their market position.) It's pretty disorganized as well.
ck2 13y ago
The "next" at the bottom needs to be bigger/bolder for newbies...
- anthonylebrun 13y ago
  +1
- neals 13y ago
  +2
- deleted 13y ago
  [deleted]
- kbouw 13y ago
  updated on site
ambiate 13y ago
My advice to everyone: if an altcoin pops up, mine it for a day or two. Place the funds in a private wallet. Backup the wallet on a USB key and two hard drives. Do not access it for 2-3 years. Early on, farming a block takes no effort at all. Later on, if the altcoin succeeds, you hit a random lotto. Otherwise, you have a few encrypted wallets and probably wasted 15 minutes setting up the miner per altcoin. Be wary of the altcoins.
- enscr 13y ago
  Multiply those 15 minutes by the number of altcoins popping up every week. Then add the time spent in looking for altcoins early on. There are several who'd like to jump on it from day 1. They make their living by selling them on ebay. Not to mention that your computer is unusable while it's mining. My point being, it's not a get rich quick scheme for everyone.
  - kordless 13y ago
    If you assume crypt coins are going to be pressed into wide-spread use, then it is akin to a land rush. Automating the process can be done quite easily by using something like Multipool's list of currencies and just running through the list with a script. Way less than 15 minutes per.
  - error54 13y ago
    >Not to mention that your computer is unusable while it's mining. Depends on your computer. I mine 42 coin and code/watch movies and there's no noticeable performance hit other than my computer being warmer than usual.
    - enscr 13y ago
      42 coins/day ? Why mine at all? You'll probably spend more on electricity. If you must have the coins in anticipation of their rise, just buy thousands for them for a few dollars.
      - 13y ago
enscr 13y ago
Where's that tutorial page on how to buy such an island & yatch with much millions you'll mint from Dogecoins. Wow, very missed. But in all seriousness, good effort for newcomers.
- kbouw 13y ago
  Not necessary when you're going to the moon. We're talking spaceships and mars with the dogecoin billions. Thanks /chestbump
mitchh 13y ago
On the computer parts section on the mining page, you talk about discreet GPUs, but you probably meant discrete. Otherwise looks great!
- mkeung 13y ago
  thanks...I don't know what I was thinking haha
  - pnathan 13y ago
    It's OK, man. You need GPUs that aren't gossipy anyway. ;-)
- deleted 13y ago
  [deleted]
- anthonylebrun 13y ago
  Hahahahahaha
mbloom1915 13y ago
so interesting, such opportunity! wow! to the moon!
k-mcgrady 13y ago
Nice, I just started looking into Dogecoin a few days ago. It's been two days now and my wallet is still doing its first sync (about 70%). I also set up a BitCoin wallet and it looks like that'll take weeks to sync. Is this a problem people starting crypto currencies are thinking about? Is it solvable or just how they work?
- kbouw 13y ago
  When you're using an offline wallet like bitcoin-qt or dogecoin-qt, you have to download the entire blockchain for the cryptocurrency. This is what's 'syncing' and can take a while to finish. You can bypass having to download the blockchain by using an online wallet instead, which solves that specific pain point but they're less secure than your local storage offline wallet.
  - oelmekki 13y ago
    Please, do not recommend that. Online wallets are first target for scams and hacks and should not be used. If you browse /r/dogecoin, you will see that everyone is recommending to stay away from them. They were especially hit by the dogewallet.com hack. An alternative is using the android wallet. It's been around for some weeks, now, and I didn't see any complains about it. It relies on no central server and it's code is opensource [1], so it can hardly be a scam, I think. I remember reading something by its author saying that it won't download the whole chain. From my experience, it's faster to sync than qt client, so I suppose it's true. Also, some neat options like disabling sync when not charging and/or not connected to wifi, which make power / bandwidth consumption not a problem. Anyway, the only official wallet is the qt / cli one [2]. If you want to be safe, it's the one to use. The sync thing may be annoying at first, but it's easily dealt with if you open your wallet once a day, or once in two days (it will take something like five minutes to sync). [1] https://github.com/langerhans/dogecoin-wallet-new https://github.com/langerhans/dogecoin-wallet-new [2] https://github.com/dogecoin/dogecoin https://github.com/dogecoin/dogecoin
- ChrisClark 13y ago
  You can use a wallet like Electrum (https://electrum.org/ https://electrum.org/) for Bitcoin. You don't need to download the entire blockchain then. You can be up and running in the time it takes to install it. And it is still a local wallet, so you don't have to trust an online service to store your wallet.
aestra 13y ago
Doesn't include compiling for Linux.
- mkeung 13y ago
  co creator of the guide here, it is on my to do list. the guide in its current form isn't even close to complete yet, we just thought it was good enough to start getting feedback and be useful to the average person (who probably doesn't know Linux)
scottcanoni 13y ago
Regarding: "Since the wallet requires an internet connect, if you have a firewall you must allow the program access. Make sure the boxes are checked, then allow access if prompted." http://howtodogecoin.com/images/wallet/windows/win-firewall.png http://howtodogecoin.com/images/wallet/windows/win-firewall.... I don't think you should be allowing the Doge Client to run in public networks. Am I wrong?
- mkeung 13y ago
  Hmmmm, you may be right...i'm not super knowledgeable on this type of thing though. I'll update the picture, but can you give me a explanation I can use?
  - yebyen 13y ago
    The configuration is the same as Bitcoin. Basically, the Dogecoin wallet is going to attempt to punch a hole in your firewall with UPnP and any other NAT-busting techniques the author (of Bitcoin) has contrived to enable you to help new nodes to come to sync by sending them blocks from the winning blockchain. The daemon mode (which listens on an RPC/HTTP port for commands like "send money here") is not going to attempt to run unless you enable a password in your .doge/config (just like bitcoind). RPC clients will need this password to be able to issue commands. If you have one node, then both the client and server will have the same .doge/config and it's secure, assuming they don't guess your password. If you have multiple nodes, this is the way to have a lightweight client that sends commands to your "heavyweight" wallet. If the client doesn't have your RPC password, the client can't do anything that any 'nobody' new node on the network should be able to do. You can run Dogecoin on public networks, or the Dogecoin wallet has a bug that you should report. Whether it's wise to be in a position to be the first to discover such a bug (by losing all the coins in your wallet), that's another matter, but if there are such bugs in the wallet then it's really not viable, and you should therefore probably sell all your doges immediately.
    - mkeung 13y ago
      Thanks, i'll update the content today
Swammy 13y ago
I'm also building a DOGE/USD (and other currencies) exchange, http://doges.org/index.php?topic=4435.0 http://doges.org/index.php?topic=4435.0 It's tough work doing it legitimately since so far most banks have turned their nose up at my business, but I'll get there.
- mkeung 13y ago
  keep it up! it's def a pain point with the currency
- lowglow 13y ago
  You might also have the fun time of actually getting arrested. http://business.time.com/2014/01/27/bitinstant-ceo-charlie-shrem-arrested-for-alleged-money-laundering/ http://business.time.com/2014/01/27/bitinstant-ceo-charlie-s...
  - Swammy 13y ago
    Yeah lol I read that article, hence the emphasis on making my company as legal as possible. There are banks in my country that will accept it, they just need persuasion.
- mrkickling 13y ago
  Would it only be possible to exchange from the US?
  - Swammy 13y ago
    Yes, Trade Doges can do that as well
fallinghawks 13y ago
Such tutorial. very wow. <--- imagine this in Comic Sans How dissimilar is the process for converting dogecoin to normal-people money? (I have no interest in Bitcoin except as a necessary stepping stone.) If very different, could you make a page for this?
- kbouw 13y ago
  The process is the same for converting doge to USD (which I should make clear in the guide, thanks). There are a few exchanges with plans to offer direct exchange from Doge to USD in the coming weeks, which I will also be making a guide for when it's released. You could alternatively sell your Doge for USD through a service like eBay and add a nice markup for convenience (doge is selling for 2x the value in some bids), although you chance dealing with scammers. edit* thanks for the props, specifically in comic sans :)
  - fallinghawks 13y ago
    YW and thanks. I'm the person who asked on reddit about converting to JPY. A Japanese shibe and I are trying to help Atsuko Sato, the owner of the doge, learn how to convert dogecoin donations. Since your tutorial is real clear I'll point my Japanese friend to it to translate.
    - kbouw 13y ago
      No problem! Let me know if you have any questions on reddit (username: kbouw)
      - fallinghawks 13y ago
        Great, thanks. I'm dirthawker0.
paromi 13y ago
i like this info site too : http://howtodogeco.in/ http://howtodogeco.in/
pkfrank 13y ago
I'm honestly very interested by Dogecoin, the community enthusiasm and positivity seems to be it's wildcard. But I find the lexicon "so wow! to the moon!" et. al. just terribly grating. It honestly impacts my willingness to dive into the space.
- deleted 13y ago
  [deleted]
  - deleted 13y ago
    [deleted]
- kbouw 13y ago
  The meme powers the community and drives its marketing. You'll become immune to it after a short time.
  - nowigetit 13y ago
    I guess I shouldn't be surprised to see HN jumping on the "repeating old memes over and over and over and over again" bandwagon. So moron, wow.
- deleted 13y ago
  [deleted]
- mrkickling 13y ago
  The community is really awesome. For example peoples opinions on todays price drop is that it's great because more people can buy DOGE!
  - nowigetit 13y ago
    What's "awesome" about that? That's the "opinion" people have about every coin they hold that is dropping in price, because it is in their best interest to encourage people to buy more so they don't get stuck holding the bag.
azatris 13y ago
Perhaps it's not the right thread to ask this, but: What stops e.g. Pixar from opening up Pixarcoin where they let the community render their next movie? Am I missing something here?
- akx 13y ago
  I think one of the harder problems would be verifying that the render results from a distributed system are correct, and then Pixar would be a centralized entity doling out coin for correct output. Unless there's some decentralized way I'm blissfully missing.
- mrkickling 13y ago
  What if people started a Pixar road, where drugs and guns would be sold for Pixar coins? Pixar would have no control over that what so ever. I don't know about the technical part however, it could probably be possible.
- nisa 13y ago
  Rendering a movie is not suitable as a proof of work function. It's probably very difficult to design a mathematical framework to verify that you really rendered the movie and not just send garbage back in exchange for coins. At the moment most Coins use either one or multiple hashing functions¹ or prime chains² as proof of work system³. 1: https://en.wikipedia.org/wiki/Hashcash https://en.wikipedia.org/wiki/Hashcash 2: https://en.wikipedia.org/wiki/Primecoin#Proof-of-work_system https://en.wikipedia.org/wiki/Primecoin#Proof-of-work_system 3: https://en.wikipedia.org/wiki/Proof-of-work_system https://en.wikipedia.org/wiki/Proof-of-work_system
  - gus_massa 13y ago
    An additional problem is that the rendered images will leak.
  - azatris 13y ago
    Thank you! Exactly the answer I was afraid of.
- 13y ago
marincounty 13y ago
I just signed up ad still don't get it? I think it has something to do with communicating via email? I know one guy who spent 50 plus house setting up a "developers" site--just shut it down because of Hackers. I think I go pan for gold, but won't dredge because of fish eggs. Or, apply to McDonalds? Or, boom? No, I'll go back to my f--ng website.
- mkeung 13y ago
  what? there is no sign up. copy paste into the wrong thread?
adrianwaj 13y ago
So when's a dogetipbot hitting HN?
tlrobinson 13y ago
I'm skeptical of some of the hype around Dogecoin. The various stats sites are currently showing hundreds of millions of dollars worth of Dogecoin transactions every day (http://bitinfocharts.com/comparison/sentinusd-doge.html http://bitinfocharts.com/comparison/sentinusd-doge.html). These are trivial to manipulate by sending transactions to yourself. Where are all these transactions happening? Am I just out of the loop?
- mkeung 13y ago
  there is a big tipping culture in the community, especially on reddit. in addition to karma upvotes, people can use a tipbot to send doge to each other. the /r/dogecoin subreddit has 40k+ subscribers, with lots of tipping in each thread. additionally, it may be that each transaction is counted multiple times. if I were to tip you, I would first send funds to the bot, who then sends funds to you.
  - tlrobinson 13y ago
    Ok, lets be generous and assume all 45,199 /r/dogecoin subscribers tip daily, and there are 2 transactions for every tip. Each subscriber would need to tip an average of: $427,079,860 / 2 / 45,199 = $4724.44 Not likely, IMHO, even if each tip required 10 or 100 transactions. Most tips seem to be less than a dollar. http://www.reddit.com/user/dogetipbot http://www.reddit.com/user/dogetipbot It just doesn't add up. Where else is Dogecoin being used? EDIT: some actual numbers are available here http://www.reddit.com/r/dogecoin/comments/1wd49h/huge_udogetipbot_announcement/ http://www.reddit.com/r/dogecoin/comments/1wd49h/huge_udoget... --- On January 26th: - 7,258 inbox messages were read by dogetipbot (even more were sent and were still unread at the time -- backlog). - 4,565 tips were given. - 572 new users registered for their first time. - 359 shibes withdrew some dogecoins - 743 shibes still kept sending +info requests even though i turned them off. ;) - 1,063,466.73376456 dogecoins were tipped. --- 1,063,466.73376456 dogecoins = $1488.85 USD (using current exchange rate of 1 doge =US$0.0014) There you have it. ~$1500 worth of Dogecoin was tipped on the /r/dogecoin subreddit on Jan 26, while $240M worth of Dogecoin transactions took place.
    - 13y ago
dwaltrip 13y ago
At the risk of sounding like a hypocrite (I own some bitcoins and have upvoted some bitcoin threads here), I am getting tired of seeing dogecoin threads. They don't seem to contain very novel or insightful information. Also, how long can the doge meme honestly keep people interested in the currency?
- mkeung 13y ago
  we just wanted to get feedback on the site, like any other show hn. wasn't trying to provide novel or insightful information, other than a guide simple enough that my parents could follow.
  - dwaltrip 13y ago
    Sorry, I didn't mean to single you guys out individually, it was more of a meta comment. Resources that make it easier for people to learn and do things are always helpful :)

119 points by kbouw 13y ago

Does it include information on the market manipulation? https://news.ycombinator.com/item?id=7126153 https://news.ycombinator.com/item?id=7126153

blakeja 13y ago
Thank you, those were my thoughts exactly when I saw the headline. Those kinds of problems lead me steer wide and clear.
- anthonylebrun 13y ago
  It's also going to be much harder once the currency has any sort of significant financial value. This kind of manipulation is only easily possible at the early stages.
  - neals 13y ago
    They'd better hurry then, since all the coins will be mined soon
- kordless 13y ago
  I continuously trade DOGE into BTC. Since starting a little over 4 weeks ago, I've made a significant amount of BTC via DOGE. I'm about 1/2 way through paying off my rigs, give or take. I also missed out by not holding DOGE before the massive run up, but I'm cool with that.
kbouw 13y ago
I'll write a section up for this, thanks for the link and suggestion.
minimax 13y ago
If anything that is just evidence of how thinly traded and amateurish these "markets" are.
barce 13y ago
This is a good thing to put in there. Crypto-currencies are prey to all the manipulations of exchanges 100 years ago. Ya, that's what happens when you create unregulated virtual gold. A trader explains it here: https://news.ycombinator.com/item?id=3787375 https://news.ycombinator.com/item?id=3787375
lvs 13y ago
These things aren't really working out terribly well for the manipulators. There's not as much panic selling as their sub-market dump needs in order to turn a profit. (All they're really doing is relinquishing their market position.) It's pretty disorganized as well.

ck2 13y ago

The "next" at the bottom needs to be bigger/bolder for newbies...

anthonylebrun 13y ago
+1
neals 13y ago
+2
deleted 13y ago
[deleted]
kbouw 13y ago
updated on site

ambiate 13y ago

My advice to everyone: if an altcoin pops up, mine it for a day or two. Place the funds in a private wallet. Backup the wallet on a USB key and two hard drives. Do not access it for 2-3 years. Early on, farming a block takes no effort at all. Later on, if the altcoin succeeds, you hit a random lotto. Otherwise, you have a few encrypted wallets and probably wasted 15 minutes setting up the miner per altcoin. Be wary of the altcoins.

enscr 13y ago
Multiply those 15 minutes by the number of altcoins popping up every week. Then add the time spent in looking for altcoins early on. There are several who'd like to jump on it from day 1. They make their living by selling them on ebay. Not to mention that your computer is unusable while it's mining. My point being, it's not a get rich quick scheme for everyone.
- kordless 13y ago
  If you assume crypt coins are going to be pressed into wide-spread use, then it is akin to a land rush. Automating the process can be done quite easily by using something like Multipool's list of currencies and just running through the list with a script. Way less than 15 minutes per.
- error54 13y ago
  >Not to mention that your computer is unusable while it's mining. Depends on your computer. I mine 42 coin and code/watch movies and there's no noticeable performance hit other than my computer being warmer than usual.
  - enscr 13y ago
    42 coins/day ? Why mine at all? You'll probably spend more on electricity. If you must have the coins in anticipation of their rise, just buy thousands for them for a few dollars.
    - 13y ago

enscr 13y ago

Where's that tutorial page on how to buy such an island & yatch with much millions you'll mint from Dogecoins. Wow, very missed. But in all seriousness, good effort for newcomers.

kbouw 13y ago
Not necessary when you're going to the moon. We're talking spaceships and mars with the dogecoin billions. Thanks /chestbump

mitchh 13y ago

On the computer parts section on the mining page, you talk about discreet GPUs, but you probably meant discrete. Otherwise looks great!

mkeung 13y ago
thanks...I don't know what I was thinking haha
- pnathan 13y ago
  It's OK, man. You need GPUs that aren't gossipy anyway. ;-)
deleted 13y ago
[deleted]
anthonylebrun 13y ago
Hahahahahaha

mbloom1915 13y ago

so interesting, such opportunity! wow! to the moon!

k-mcgrady 13y ago

Nice, I just started looking into Dogecoin a few days ago. It's been two days now and my wallet is still doing its first sync (about 70%). I also set up a BitCoin wallet and it looks like that'll take weeks to sync. Is this a problem people starting crypto currencies are thinking about? Is it solvable or just how they work?

kbouw 13y ago
When you're using an offline wallet like bitcoin-qt or dogecoin-qt, you have to download the entire blockchain for the cryptocurrency. This is what's 'syncing' and can take a while to finish. You can bypass having to download the blockchain by using an online wallet instead, which solves that specific pain point but they're less secure than your local storage offline wallet.
- oelmekki 13y ago
  Please, do not recommend that. Online wallets are first target for scams and hacks and should not be used. If you browse /r/dogecoin, you will see that everyone is recommending to stay away from them. They were especially hit by the dogewallet.com hack. An alternative is using the android wallet. It's been around for some weeks, now, and I didn't see any complains about it. It relies on no central server and it's code is opensource [1], so it can hardly be a scam, I think. I remember reading something by its author saying that it won't download the whole chain. From my experience, it's faster to sync than qt client, so I suppose it's true. Also, some neat options like disabling sync when not charging and/or not connected to wifi, which make power / bandwidth consumption not a problem. Anyway, the only official wallet is the qt / cli one [2]. If you want to be safe, it's the one to use. The sync thing may be annoying at first, but it's easily dealt with if you open your wallet once a day, or once in two days (it will take something like five minutes to sync). [1] https://github.com/langerhans/dogecoin-wallet-new https://github.com/langerhans/dogecoin-wallet-new [2] https://github.com/dogecoin/dogecoin https://github.com/dogecoin/dogecoin
ChrisClark 13y ago
You can use a wallet like Electrum (https://electrum.org/ https://electrum.org/) for Bitcoin. You don't need to download the entire blockchain then. You can be up and running in the time it takes to install it. And it is still a local wallet, so you don't have to trust an online service to store your wallet.

aestra 13y ago

Doesn't include compiling for Linux.

mkeung 13y ago
co creator of the guide here, it is on my to do list. the guide in its current form isn't even close to complete yet, we just thought it was good enough to start getting feedback and be useful to the average person (who probably doesn't know Linux)

scottcanoni 13y ago

Regarding: "Since the wallet requires an internet connect, if you have a firewall you must allow the program access. Make sure the boxes are checked, then allow access if prompted." http://howtodogecoin.com/images/wallet/windows/win-firewall.png http://howtodogecoin.com/images/wallet/windows/win-firewall.... I don't think you should be allowing the Doge Client to run in public networks. Am I wrong?

mkeung 13y ago
Hmmmm, you may be right...i'm not super knowledgeable on this type of thing though. I'll update the picture, but can you give me a explanation I can use?
- yebyen 13y ago
  The configuration is the same as Bitcoin. Basically, the Dogecoin wallet is going to attempt to punch a hole in your firewall with UPnP and any other NAT-busting techniques the author (of Bitcoin) has contrived to enable you to help new nodes to come to sync by sending them blocks from the winning blockchain. The daemon mode (which listens on an RPC/HTTP port for commands like "send money here") is not going to attempt to run unless you enable a password in your .doge/config (just like bitcoind). RPC clients will need this password to be able to issue commands. If you have one node, then both the client and server will have the same .doge/config and it's secure, assuming they don't guess your password. If you have multiple nodes, this is the way to have a lightweight client that sends commands to your "heavyweight" wallet. If the client doesn't have your RPC password, the client can't do anything that any 'nobody' new node on the network should be able to do. You can run Dogecoin on public networks, or the Dogecoin wallet has a bug that you should report. Whether it's wise to be in a position to be the first to discover such a bug (by losing all the coins in your wallet), that's another matter, but if there are such bugs in the wallet then it's really not viable, and you should therefore probably sell all your doges immediately.
  - mkeung 13y ago
    Thanks, i'll update the content today

Swammy 13y ago

I'm also building a DOGE/USD (and other currencies) exchange, http://doges.org/index.php?topic=4435.0 http://doges.org/index.php?topic=4435.0 It's tough work doing it legitimately since so far most banks have turned their nose up at my business, but I'll get there.

mkeung 13y ago
keep it up! it's def a pain point with the currency
lowglow 13y ago
You might also have the fun time of actually getting arrested. http://business.time.com/2014/01/27/bitinstant-ceo-charlie-shrem-arrested-for-alleged-money-laundering/ http://business.time.com/2014/01/27/bitinstant-ceo-charlie-s...
- Swammy 13y ago
  Yeah lol I read that article, hence the emphasis on making my company as legal as possible. There are banks in my country that will accept it, they just need persuasion.
mrkickling 13y ago
Would it only be possible to exchange from the US?
- Swammy 13y ago
  Yes, Trade Doges can do that as well

fallinghawks 13y ago

Such tutorial. very wow. <--- imagine this in Comic Sans How dissimilar is the process for converting dogecoin to normal-people money? (I have no interest in Bitcoin except as a necessary stepping stone.) If very different, could you make a page for this?

kbouw 13y ago
The process is the same for converting doge to USD (which I should make clear in the guide, thanks). There are a few exchanges with plans to offer direct exchange from Doge to USD in the coming weeks, which I will also be making a guide for when it's released. You could alternatively sell your Doge for USD through a service like eBay and add a nice markup for convenience (doge is selling for 2x the value in some bids), although you chance dealing with scammers. edit* thanks for the props, specifically in comic sans :)
- fallinghawks 13y ago
  YW and thanks. I'm the person who asked on reddit about converting to JPY. A Japanese shibe and I are trying to help Atsuko Sato, the owner of the doge, learn how to convert dogecoin donations. Since your tutorial is real clear I'll point my Japanese friend to it to translate.
  - kbouw 13y ago
    No problem! Let me know if you have any questions on reddit (username: kbouw)
    - fallinghawks 13y ago
      Great, thanks. I'm dirthawker0.

paromi 13y ago

i like this info site too : http://howtodogeco.in/ http://howtodogeco.in/

pkfrank 13y ago

I'm honestly very interested by Dogecoin, the community enthusiasm and positivity seems to be it's wildcard. But I find the lexicon "so wow! to the moon!" et. al. just terribly grating. It honestly impacts my willingness to dive into the space.

deleted 13y ago
[deleted]
- deleted 13y ago
  [deleted]
kbouw 13y ago
The meme powers the community and drives its marketing. You'll become immune to it after a short time.
- nowigetit 13y ago
  I guess I shouldn't be surprised to see HN jumping on the "repeating old memes over and over and over and over again" bandwagon. So moron, wow.
deleted 13y ago
[deleted]
mrkickling 13y ago
The community is really awesome. For example peoples opinions on todays price drop is that it's great because more people can buy DOGE!
- nowigetit 13y ago
  What's "awesome" about that? That's the "opinion" people have about every coin they hold that is dropping in price, because it is in their best interest to encourage people to buy more so they don't get stuck holding the bag.

azatris 13y ago

Perhaps it's not the right thread to ask this, but: What stops e.g. Pixar from opening up Pixarcoin where they let the community render their next movie? Am I missing something here?

akx 13y ago
I think one of the harder problems would be verifying that the render results from a distributed system are correct, and then Pixar would be a centralized entity doling out coin for correct output. Unless there's some decentralized way I'm blissfully missing.
mrkickling 13y ago
What if people started a Pixar road, where drugs and guns would be sold for Pixar coins? Pixar would have no control over that what so ever. I don't know about the technical part however, it could probably be possible.
nisa 13y ago
Rendering a movie is not suitable as a proof of work function. It's probably very difficult to design a mathematical framework to verify that you really rendered the movie and not just send garbage back in exchange for coins. At the moment most Coins use either one or multiple hashing functions¹ or prime chains² as proof of work system³. 1: https://en.wikipedia.org/wiki/Hashcash https://en.wikipedia.org/wiki/Hashcash 2: https://en.wikipedia.org/wiki/Primecoin#Proof-of-work_system https://en.wikipedia.org/wiki/Primecoin#Proof-of-work_system 3: https://en.wikipedia.org/wiki/Proof-of-work_system https://en.wikipedia.org/wiki/Proof-of-work_system
- gus_massa 13y ago
  An additional problem is that the rendered images will leak.
- azatris 13y ago
  Thank you! Exactly the answer I was afraid of.
13y ago

marincounty 13y ago

I just signed up ad still don't get it? I think it has something to do with communicating via email? I know one guy who spent 50 plus house setting up a "developers" site--just shut it down because of Hackers. I think I go pan for gold, but won't dredge because of fish eggs. Or, apply to McDonalds? Or, boom? No, I'll go back to my f--ng website.

mkeung 13y ago
what? there is no sign up. copy paste into the wrong thread?

adrianwaj 13y ago

So when's a dogetipbot hitting HN?

tlrobinson 13y ago

I'm skeptical of some of the hype around Dogecoin. The various stats sites are currently showing hundreds of millions of dollars worth of Dogecoin transactions every day (http://bitinfocharts.com/comparison/sentinusd-doge.html http://bitinfocharts.com/comparison/sentinusd-doge.html). These are trivial to manipulate by sending transactions to yourself. Where are all these transactions happening? Am I just out of the loop?

mkeung 13y ago
there is a big tipping culture in the community, especially on reddit. in addition to karma upvotes, people can use a tipbot to send doge to each other. the /r/dogecoin subreddit has 40k+ subscribers, with lots of tipping in each thread. additionally, it may be that each transaction is counted multiple times. if I were to tip you, I would first send funds to the bot, who then sends funds to you.
- tlrobinson 13y ago
  Ok, lets be generous and assume all 45,199 /r/dogecoin subscribers tip daily, and there are 2 transactions for every tip. Each subscriber would need to tip an average of: $427,079,860 / 2 / 45,199 = $4724.44 Not likely, IMHO, even if each tip required 10 or 100 transactions. Most tips seem to be less than a dollar. http://www.reddit.com/user/dogetipbot http://www.reddit.com/user/dogetipbot It just doesn't add up. Where else is Dogecoin being used? EDIT: some actual numbers are available here http://www.reddit.com/r/dogecoin/comments/1wd49h/huge_udogetipbot_announcement/ http://www.reddit.com/r/dogecoin/comments/1wd49h/huge_udoget... --- On January 26th: - 7,258 inbox messages were read by dogetipbot (even more were sent and were still unread at the time -- backlog). - 4,565 tips were given. - 572 new users registered for their first time. - 359 shibes withdrew some dogecoins - 743 shibes still kept sending +info requests even though i turned them off. ;) - 1,063,466.73376456 dogecoins were tipped. --- 1,063,466.73376456 dogecoins = $1488.85 USD (using current exchange rate of 1 doge =US$0.0014) There you have it. ~$1500 worth of Dogecoin was tipped on the /r/dogecoin subreddit on Jan 26, while $240M worth of Dogecoin transactions took place.
  - 13y ago

dwaltrip 13y ago

At the risk of sounding like a hypocrite (I own some bitcoins and have upvoted some bitcoin threads here), I am getting tired of seeing dogecoin threads. They don't seem to contain very novel or insightful information. Also, how long can the doge meme honestly keep people interested in the currency?

mkeung 13y ago
we just wanted to get feedback on the site, like any other show hn. wasn't trying to provide novel or insightful information, other than a guide simple enough that my parents could follow.
- dwaltrip 13y ago
  Sorry, I didn't mean to single you guys out individually, it was more of a meta comment. Resources that make it easier for people to learn and do things are always helpful :)