Could DOGE COIN ever grow like BITCOIN ?
Well, it definitely sounds very funny to try and compare doge coin to bitcoin. But, people who laughed out loud at bit coin in 2009 bit their tongues in 2017. As many people say today, doge coin is just a way to move funds and that is all to it. It is a joke they say.
I remember i read an article where some one did a forecast on doge coin reaching $78,123.00 in 2022. hahaha. I really pitied this guy for voicing out his predictions. The amount of insults and sarcasm he earned himself for this was just too much to bare by anyone. Perhaps you should take a look https://bitcointalk.org/index.php?topic=2610568.0
But what I actually think is that no one can be 100% sure of the future of digital currencies as there are new ideas and technologies coming up each day. Perhaps its not wealth a bit coin today, but i think it has all the potentials of reaching any height or price.
when you look at bitcoin for instance, a lot of people like Jordan Hiscott, chief trader at social trading platform ayondo market attributes it's successes to the fact that it has no external regulation and control from big banks. https://www.express.co.uk/finance/city/874249/bitcoin-price-record-high-why-is-bitcoin-rising-BTC-value.
secondly, the 21 million cap on bitcoins production quantity contributes majorly to its success. simple demand and supply theories will tell you that " the higher the demand for a commodity, the higher the price and the higher the supply of that same commodity, the lower the price all other things being equal. https://www.buybitcoinworldwide.com/price/ this an article by Buy Bitcoin Worldwide
what I am driving at.
Just like the title of this post, the question is, is it entirely a good idea to write off DOGECOIN giving the biggest advantages which propelled bitcoin to success? If today, DOGECOIN is the
- cheapest means of transfers of fund,
- has a very good community
- has the potential of becoming the digital dollar as it could be used for retail purposes and many other advantages, don't you think that these features could also propel it to success? from what i have realized, anything that can add value to humanity has the potential of becoming very valuable.
But lets look at the possibilities.
- Is there a possibility that dogecoin supply could be limited?
- what if doge coin actually becomes a digital dollar, will it's demand not sky rocket?
- Technology is making anything and everything almost possible, what if there rises a new use for doge coin?
conclusion
My conclusion is simple. I would rather throw away $63 today in the name of dogecoin, than ask my self in five or ten years why I save ONLY $63 for all these years.
My answer to the title of this post is YES it has the potential. How about you?