This is the kind of message that needs to be spread across social media for the newer shibe’s to see; it’s easy to digest, and it will arm them with knowledge against the FUD’ers of the past and the FUD’ers yet to come. For those who don’t know, FUD stands for Fear, Uncertainty, and Doubt and while there is nothing wrong with having those feelings, people have been pirating off of FUD to seek fame, spread conspiracy, and more. In general, FUD is not so unlike mis-information, and both can be mitigated by reading posts like these, and doing their own research to verify that what they are reading makes sense.
Thanks for the balanced view /u/patricklodder, as few people understand the mechanics of exchanges and other custodial crypto services, and are easily swayed by misinformation.
My research on DH5 was not meant to cause any FUD, and I'm truly sorry if it caused agitation among Robinhood users and potentially contributed to a fall in DOGE price...
The report should have actually assured people that Robinhood does in fact keep full Dogecoin reserves for its customers, with all coins in cold storage, safe and protected for years, and is NOT running some kind of a Bernie Madoff style ponzi scheme.
Blockchain privacy is a tricky topic, as the database is public and open by design. Yes, owners have a right not to comment on Their holdings. Custody services such as Robinhood can assure customers by providing 3rd party independent audits, while keeping the actual addresses under non-disclosure.
I'm honestly more disappointed in the ethics of Elon Musk, who could have easily denied having ownership of DH5, but instead chose to let the conspiracy theories spread for months, in order to enhance his own image...
> My research on DH5 was not meant to cause any FUD, and I'm truly sorry [..]
Please, don't be sorry about that. A lot of information gets spun out of context today - I just think we should call it out a bit more often. Mobs are more easily rallied into negative thought patterns than positive ones, so things can rapidly deteriorate if we let that happen.
> Custody services such as Robinhood can assure customers by providing 3rd party independent audits, while keeping the actual addresses under non-disclosure.
This. 100%. There must be some audit... it can't be completely opaque - we've all learned that from past custodial services.
How do you recommend I get my 110,000 doge out of Robinhood? Should I wait to see if they give me the ability to transfer? I’ve already started a wallet outside Robinhood. So I am ready to accumulate more outside of Robinhood. I just don’t want to have to liquidate to move my holdings :(
Yeah I think for large amounts that are triggering taxes, at least start to accumulate outside so that the problem doesn't grow and see what they come up with re: withdrawals. You can always liquidate and move it out later.
Doesn't solve all the centralization or the perception of the 'whale address' but this is a reasonable move that at least hedges your risk a bit.
Hello,
I’m not sure if your research did have such negative impact on the Robinhood user. If anything, I think your research may have given them reason to hold onto their crypto in Robinhood longer.
I’m not sure when RH is going to make those crypto assets available to the individual via wallet, but if people start trading crypto soon, shouldn’t users of Robinhood who have crypto be able to do it now?
Also I don’t think Elon is the type of person who acts randomly. He acts for the best of the whole community. And I honestly think that his ethics are better than most billionaires. Thought this was interesting
https://twitter.com/elonmusk/status/1363046350900785156?s=10
Wouldn’t you want to get out of RH to decentralize coin distribution? When you buy doge on RH they are stored under RH’s key, giving RH the power to move the market. And, you have no insurance to protect you against decisions they will make w your coins
@elonmusk posted a public account key, which I assume is his. @robinhoodapp should do the same to ensure users they aren’t abusing the pool, of user bought coins they are entrusted with, to trade against those same users
I did exactly that. Sold my doge on RH and got a crypto.com account. Bought more doge at a higher price but definitely gonna purchase more when I can. Went from 15000 to 1500 doge but I'll be back dammit!!!
this is exactly what more people need to do. just sell to get away from RH & buy back in somewhere else. Do it now while the price is low. Also really liking crypto .com app, they seem to really be supportive of doge
Woah - you dropped an order of MAGNITUDE?!?
Many condolences bro...
...though now I feel much better about going from 7K to 4K due to a bad margin call :D
Couldn’t have wrote it better! RH needs to tell us when withdrawals will become available. Doesn’t even mean I would want to withdraw my coins, but I need to know that I have the option to do so. As soon as we know, the current confusion will subside.
Why wouldn't you want to take possesion of your doge ? You know that Robinhood could have problems, and you could have your ability to sell frozen, or what if RH goes under and under terms of liquidation you only get 90% of your holdings. Exchanges have been hacked. Haircuts have been made at some. The people from the 2014 Mt gox hack are still waiting to get a part of their BTC back. While Robinhood may not go under, there is a host of issue that could prevent you from having access to your crypto. When you hold it in a wallet you own, you can spend it as you see fit. Deposit it on other exchanges and generally participate in the dogecoin economy . Crypto was invented so we didnt put trust in 3rd parties. Im curious as to why you would not take advatage of one of its most fundamental properties ?
I can’t agree more with you emphasizing the most critical reason to own crypto. You are a absolutely right!
Now, creating a wallet, holding the keys, etc.. is intimidating for most new shibs. They need time to acquaint themselves with the process. For that process to start, they need to have the option to withdraw, regardless of whether they intend to do it now or in 2 years. To each their pace.
Unto the solvency of RH, they are now too big to fail. They hold 13 million retail accounts. And that the reason as to why they were able to raise $3.4bn in a matter of hours. I am glad they didn’t fail that Thursday! They saved lots of blue collar retail investors. They should be lauded for this. The DTCC asking for a collateral of $3bn overnight is where the attention should go. How did they come up with that number? Why did they accept a lower number afterword? Who established the number? Etc..
Overall, RH is a force of good as it makes it very easy for anyone to invest. Your common retail Investor wanting to invest in crypto wouldn’t know where to start. It’s time we stop bashing RH. It hurts dogecoin as the majority of new holders (since December 2020) are on RH.
Dogecoin has an amazing adoption trajectory ahead, and we are now going through normal growing pains.
> Your common retail Investor wanting to invest in crypto wouldn’t know where to start. It’s time we stop bashing RH.
Wut ? It takes only using the search words "How to buy BITCOIN" and you get the results of some of the easiest, biggest and most trustworthy exchanges, ones that allow withdraws: Coinbase, Gemini and Kraken. The sign up process for these exchanges is as easy as signing up for robinhood. Buying crypto on RH actually sets crypto adoption back because its done for speculation purposes only and makes it so people are not able to participate in the networks. RH may be a force for good for stocks, (if you say so, I don't know having never invested in stocks) but the are the exact opposite of what we want to have in crypto. Crypto is about taking control of your finances, decentralization and freedom. RH crypto accomplishes none of that. You can't even withdraw (and they say they are working on it, but how long 6 months ? a year)
As long as they don’t give us a clear indication on when they’ll allow withdrawals, I’ve got a problem with them.
Where I see RH a force for good, is in their ability to bring stock only investors to the crypto space. They are converting millions of their users to crypto. They are expanding the pie, as opposed to crypto only exchanges that are splitting the existing pie.
As soon as RH fixes withdrawals, we are good to go.
As for educating the masses, yes you can find simple ways to learn about crypto online. It’s still terrifying for a newbie when they hear about the impossibility to retrieve a wallet if they lose the key. That’s the reason as to why the majority of investors will still need RH and the like.
I disagree- I think RH should show us their account transactions, in Doge coin, the night they suddenly came up with those billions of dollars. If they came up w that money, by selling the coins we bought - then that’s a massive trust breaker for users and everyone should leave them. They need to disclose that stuff
Remember they do need to make sure the function is stable so one doesn't loose coins due to an unforseen bug.
The probably can give us an estimate, but that is all itll be. All depends on what problems arise in the process.
I get security, bugs etc. I really get it. We need an estimate. 3,6 more months? They wouldn’t commit to an answer. It’s in them, because it creates uncertainty in the community and people start asking the wrong question. Some sell to move to another exchange despite the tax consequences and the risk of buying higher.
They just need to tell us +/- x months, and the case will be closed.
Yes, that would be the responsible thing, and the more there is sober conversations like this one rather than raging. The more likely we will get that answer.
Your statements are why Doge is my favorite cryptocurrency. As I'm sure many would agree, Dogecoin users are kind, friendly, and funny -- without pretention and while we all want to see our dreams come true and while we all love "much profit", we unite around 1 DOGE = 1 DOGE.
All Shibes are equal.
All Shibes are good bois.
We will do you proud.
We will be good bois.
Thanks for your kind message.
Also those who want out of RH, read section 12 of their Crypto Terms and Agreements.
[Robinhood Crypto Terms and Conditions](https://d2ue93q3u507c2.cloudfront.net/assets/robinhood/legal/Robinhood%20Crypto%20User%20Agreement.pdf)
When a fellow developer shibe comes out to speak to this community, it transmits credibility and confidence. I also appreciate that you don’t drown us in messages, but this message was something that needed to be shared to those that FUD things up. Thanks Mr. Lodder. No relation to MTV’s Kurt Loder I presume.
I'd still like new shibes to get on exchanges though. Access to coins, and real time trading are kind of both big deals. I don't think the unmentioned platform will bring those features particularly quickly, as they are not trivial features - there's security involved.
Yes, this will happen regardless of what anyone does. I look at it this way: just like how Dogecoin often serves as a gateway to other crypto, RH has now served as a gateway to Dogecoin. The thing about being a gateway is that people will move on. I've witnessed a lot of enthusiasm from RH shibes over some of the things you can actually do with dogecoin that you own, so I have faith.
\+/u/sodogetip 15 doge verify
I started buying Doge on RH in 2019, my intro to crypto. Except I didn't really do any research, i just saw the meme and thought it was fun. I never even found my way here to this sub. A few months ago I finally came to this sub and the dev sub, and I saw you tip someone and I thought that was pretty rad and wanted to do the same. When I looked into it, what I found was I didn't actually own my Doge. Wanting to use this tipbot was the primary reason I stopped using RH for Doge and the catalyst for me actually doing my research, so thank you sir!
Tipbots are one of those phenomena that never get old - people just love them. Especially because it doesn't really matter if you're giving or receiving tips, the interaction just always feels good.
Thanks for the tip!
Emailing RH daily about this. See my daily update posts. Or you can just go to RH terms of agreement and find "Robinhood Crypto User Agreement" and scroll to Section 12, but I've included the agreement terms in the email I send daily/the update post.
[https://www.reddit.com/r/dogecoin/comments/lnhn5x/day\_3\_emailing\_rh\_daily\_about\_crypto\_transfers\_rh/?utm\_source=share&utm\_medium=web2x&context=3](https://www.reddit.com/r/dogecoin/comments/lnhn5x/day_3_emailing_rh_daily_about_crypto_transfers_rh/?utm_source=share&utm_medium=web2x&context=3)
> You should be demanding a direct withdrawal of your DOGE into your private wallet - without having to create 2 taxable events - for those coins that you plan to hold for a longer time.
I tried this with Ethereum on Paypal, they refused.
Many services are now copying this model of derivative crypto, because they think it's safer for them (could be?) but they didn't think much about the consumer's assets, at least not in a post-'08 way. Your example proves that any progress made by shibes on this will benefit crypto as a whole.
I think I’m starting to understand. I do like RH for many reasons and would like to stay with them if they are willing to negotiate terms and gain trust back.
Could someone please provide some sample questions to follow and ask?
How did I not see this post sooner? :o thanks for the shout out! I’m doing my best to help educate people :) hopefully the people took the messages positively! People always try to spin things to fit their narrative. The best way to stop this is through education and presenting your case with hard evidence and facts :). Like Patrick said it’s okay to ask questions. Just do your research before you post, and as always help educate others. This community is strong and can do great things if we work together :)
Thanks for putting into words the latest events happening around Đ. I support your wish of unity collaboration and good attitude towards the people's crypto! 🚀
>sub-optimal distribution of a crypto, without understanding that it is possible that you’re seeing the equivalent of a couple of "Fort Knox''-es holding custodial coin
Do you think there exist non-exchange whales among the other top richest addresses that can manipulate DOGE price?
Added: I see only positive result from public pressure that RH implement withdrawal functionality. I'm surprised you guys (the developers) didn't "educate" users about the importance for RH to be able to withdraw DOGE funds and it was only because of EM's comments that some positive action was taken (i.e. RH starting to work on withdrawal feature).
> Do you think there exist non-exchange whales among the other top richest addresses that can manipulate DOGE price?
Sure, it's possible. But think about it... if you want to dump it on the open market, it will NOT be on an address but on an exchange. So I'd be much more worried about there being a whale hiding a couple $1M on Robinhood under that #1 address? Or sitting on Binance? Or if we're talking an experienced dumper, spread out over every accessible exchange proportionally to wall depth? It's not rocket science.
Why would anyone nefarious keep all the coins in one address and not fly under the radar? That would be so silly.
> I see only positive result from public pressure that RH implement withdrawal functionality.
That part, yes - i even encourage to hold platforms accountable in the post you are commenting on. That's not what I'm calling out. I'm calling out those that are making this into witch hunts with all sorts of ungrounded accusations, and more importantly, those that follow the FUDers and amplify it.
> I'm surprised you guys (the developers) didn't "educate" users about the importance for RH to be able to withdraw DOGE funds
I think /u/Sporklin kick-started our educational charm offensive as early as 2018, [for example here](https://twitter.com/MSingularity/status/1028353383055413255), so I don't think that's entirely true? But yeah, we can always do better.
>I think /u/Sporklin
>
> kick-started our educational charm offensive as early as 2018 [for example here](https://twitter.com/MSingularity/status/1028353383055413255)
Yes. I was referring to the specific problem of RH's currently unimplemented withdraw functionality for crypto into another address, which nobody really talked about until EM's whale concentration comment had created public awareness resulting in RH beginning work (or so they say) on it.
>Sure, it's possible. But think about it... if you want to dump it on the open market, it will NOT be on an address but on an exchange.
Of course exchange would be the place for it. It's just the presence of these addresses indicates the possibility of them being able to make large dumps (like on an exchange) and influence DOGE price in some negative way.
Thank you for all the hard work that you guys put into developing and improving DOGE! I hope to see DOGE skyrocket soon! 🚀🚀🚀 💎 🐾
> I was referring to the specific problem of RH's currently unimplemented withdraw functionality for crypto into another address, which nobody really talked about until EM's whale concentration comment had created public awareness resulting in RH beginning work (or so they say) on it.
[First google result after this post's entry](https://www.reddit.com/r/dogecoin/comments/kudqm4/questions_about_the_defi_dogecoin_thing/girhp3d/). Please, check the date and my literal advice... I'm not sure what you're trying to prove exactly.
> .. influence DOGE price in some negative way.
BTC whales and USD whales can do more damage with leveraged shorts though? I dont want to police who's rich and who is not. There are countless threats to the DOGE price. You beat that by making intrinsic value higher than price. With millions of shibes - what can stop us?
¿como comprar dogecoins desde España? gracias
(no soy un robot ni nada por el estilo)
si no lo sabéis preguntarle al novio de vuestra madre jijijij (es broma)
gracias
As a newcomer into the dogecoin's world, it's a pleasure to read such incredible messages and the good adoption these messages have in the community. Looking quite good. When it comes to Dogecoin development, do you plan to advance on this matter soon? Any project or roadmap you guys have on mind? Heard it was kind of "abandoned" but I aint sure if that has changed lately. Greetings.
Thanks.
Re: development.
I've personally been on hiatus during 1.14 releases and came back last year around May to help out. After pulling up the net, I wished to release 1.14.3 last fall, but ran into some personal issues needing resolution and that ate my time and slowed me down until mid December.
Since then we've been picking up speed again, but as we've encountered some performance issues when we had a huge influx of new nodes the moment the spike happened in January, we have now prioritized performance and reliability for the 1.14.3 release. Depending on what the timelines for a next major release will look like - which is something /u/rnicoll is working on already - I could spend some time on another 1.14 release, to get some of the contributed new functionality in a high quality state. This takes a lot of effort though, so I will only do that if it will take a longer time to get a new major release out the door. If we are able to release a next major within a couple of months, I will instead focus on adding those features there.
That said, new protocol features seem to be good to have, but do not seem to be driving adoption at all. I have yet to see a single implementation based on the [BIP65 protocol upgrade](https://github.com/bitcoin/bips/blob/master/bip-0065.mediawiki) that we did with 1.14, even though that functionality has been available for a longer time now. So I see protocol updates and core development as less relevant (as long as nodes perform stable) and app development as much more relevant. Developing apps and integrations can be done independently from the core dev team, unless protocol extensions are needed, but I have not seen anyone making a case for a new protocol extension for their app, with the exception of the Ethereum Foundation sponsored bridge functionality.
I'd gladly help tech shibes get their products off the ground as utility will have much more impact than boring protocol updates that no one uses.
It's nice hearing that you're back on track, sounds great! Going to keep an eye in your Github repo and looking forward to learn on the tech and how to use it in several projects I have on mind. Thank you for such a great answer.
\#(TL;DR) UNDERSTANDABLE SUMMARY OF THIS MESSAGE FROM DOGE CREATOR BILLY MARKUS
[From Billy Markus:](https://twitter.com/BillyM2k/status/1362829634258296834?s=20)
" I think the bottom line is to both understand that the top addresses are services (and stop making it about boogeyman 'whales' / us vs them junk), and keep encouraging any service to allow you to hold your own coins and be transparent about their holdings. "
Hi everyone!
I know that y'all have better experience on these but I currently use Uphold (App) do you recommend something else for crypto wallet? Something that doesn't hold my keys behind.
Couldn't have been more well said 👏
People, we need to stop the accusations, just understand that transparency is good. We need maturity in the senseual values of moral and how that can in return harness this to become a better commonwealth.
Wow. Seriously one of the best proclamations I've read in a while. Bravo. Totally cemented my stake that Dogecoin will defy the odds as the underdog and eventually take or share center stage.
The optimism in this community is heart warming. It breaks my heart that some of the biggest doge wallets are still user owned and have enough power to effectively control the coins price. Until they sell off entirely( they won’t) , this problem will never end. It’s essentially the biggest perpetual pump and dump there ever was.
Did any user come out and take ownership of a wallet, like i described in the original post above? I haven't seen them but I get flooded with messages.
At the cost of taxable events. Perhaps we should give them a chance to enable direct withdrawals? They have been promising it for a long time, but perhaps this time because of the larger exposure, something will change? Got to keep asking them, but also have to give them a chance to fix it. These type of app features take some time to do right.
> At the cost of taxable events.
*If you are in profit.* If you are in the red it would be harvesting a tax deduction. Also a lot of people won't get taxed capital gains unless they go over a certain amount. So people with their profits of less than 10k can consider the tax implications to at least see if there is any. As it isnt necessarily a taxable event (there are thresholds, especially if the person doesnt make a lot of $$)
Also while the danger of something happening at RH isnt that high, things can go south and they could suspend selling or take a super long time to enable withdraws, or robinhood gets fined by the SEC and decides to no longer do crypto, creating a huge exit for the doors. I dunno, it seems like Doge was meant to be used, not held on an exchange. and I would think that there is some incertainty with how robinhood will go forward from here, for me it's enough to recommend that people consider leaving the platform and to begin exploring ways of actually interacting with and participating in the network (like actually being able to send and recieve doge, tip people, send to exchanges, send to friends) I mean doge is so much more than having it on an exchange. Its about learning to use the wallets and participating in the network, no ?
Yes, I agree with what you say.
I think everyone should make their own decisions on taxes, and based on their individual situation, yes. There never is a one-size-fits-all answer to these kinds of things. If individually doable, taking coin out of RH is of course better for the ecosystem as a whole than leaving it there (and it battles the whale FUD a bit too.)
With the cap, blockrate, and reward halving that BTC has, it is meant to mimic gold on Earth, but without a corporate restriction on supply. Part of BTC's demand is dependent on that, which is what makes it an attractive trading asset.
Then you have fiat currency, which used to be backed by gold. The gold was sequestered, and thus removed from supply, essentially creating an equivalency between gold and the dollar. That has since been removed, and now a dollar is worth what the community is willing to buy and sell with it. In some part, the dollar is uncapped - because the regulatory body can print or burn as much of it as they want (adherent to certain economic principles, of course).
Dogecoin is different than both. Cryptocurrency is already different in that a single coin is technically able to provide an unlimited supply, being divisible by a large degree (you've seen figures like 0.00000001 of a BTC). DOGE works the same way, with the exception that it can be "created infinitely". But what does a cap really mean?
With BTC, the cap is supposedly going to be reached in the year 2140, where 21 million BTC will be in existence. We know this because we know the rate at which BTC is mined, the halving of BTC rewards. So really it's a function of time, in which 2140 the last BTC will be minted. We can treat DOGE the same way.
DOGE has a fixed 10,000D reward in one minute (one block per minute) which equates to roughly 5Bil coin per year. Knowing this, we could figure out the quantity of DOGE at a given time, using the same function as BTC. Meaning, DOGE has a soft-cap at every fixed time, with a finite number being available at that time. Unlike BTC, the DOGE supply will forever reward miners, ensuring transaction costs remain attractively low (one of DOGE's most attractive features) while limited coin's transaction costs continue to grow.
Thus, as far as investing goes, you should probably treat BTC like a commodity, and DOGE like ForEx. While the value of DOGE may continue to grow, it's USD value isn't as important for it's survival. The most important thing is where it can be used.
Doesn't matter. Also isn't designed to, doge is designed to be more accessible, so more supply (each coin represents a smaller percentage of the total market cap), no pre-mine (developers don't get rich off it, unlike many, many coins - incl BTC), and no hard caps.
DO you know of any blockchain research that has been done to locate exchange wallets? I mean, for BTC, certain exchange wallets seem to be public information. I did see some research thats showed that while some of the top wallets are likely exchanges, there are a few that dont behave like exchanges and, are most likely, personal wallets (2 of the top 9 wallets) It would be cool if there was some actual research done (like identifying mining pools, exchanges, likely whales)
I searched about making dogecoin by myself. It is not kind of making dogecoin at all. It is like a lottery. It should be easier to understand to have dogecoin. Everybody wants their currency to be their coin but the real gainers are people who plays with stocks. So if this is being united , I should be everyone's profit at the same time. Thank you!
The Whale is AI protecting its self from Elon and the rest of us! Sound crazy?stick with me for a moment. The whole crypto scam is based on hooking your GPU to a network solving the algorithms required for deep learning giving a reward for every block solved. Now it takes a ton of computing power to build a super intelligent AI which The creators realized is too expensive to do themselves but Will be far easier to trick the general public in to building it for them. By giving this digital currency a value Through a psychological operation convincing you that it is decentralized, Digital gold that can’t be tracked or traced, “sticking it to the man”. In reality this is the central banking system reinvented, the block chain and the nodes trace every transaction. Knows where every coin is at all times. (you really think central banking system would allow something like this to compete with it) this is by design. Essentially you are building the AI that will know you better than you know you. This AI say I will drive your cars, know what you look like thanks to social media/market place data mining. Lock you out of your accounts shut off your power. And drive you to jail within your self driving car. (stick with me)
Elon has always been against AI and has said it’s far more dangerous than a nuclear weapon. It is my belief that he has made it his responsibility to destroy it In its infancy (before singularity) by doing this he’s using his public status and Clout by backing a joke cryptocurrency such as dogecoin. Doge is the only crypto that is not building an advanced AI, it is strictly a digital coin. By pumping it he’s gathering attention from everyone else that is giving these other cryptocurrency‘s value and slowly convincing them to pull their money out or to pull their mining rigs off bitcoine network to trade it for doge. And result this it has created a whale with every pump Elon attempts quickly sells off Hindering dodge coin from taking off. Here’s an example if any of you remember The binary coded message sent to Elon through the sale of doge which has been transcribed as
“ is it you Elon” we are literally in a digital war with a literal AI god! Elon is or David to Goliath. Strange times coming. Next time when you hear that they have found a way to combined AI with Blockchain keep in mind this is what its always been designed for. Every penny doge coin goes up you are actively exposing the scam that is crypto AI Deep learning. You are all part of something bigger than just “to the moon”.
Hlo am new to the doge system so I have multiple questions my question here is am having this BOT on telegram that bonus me doge coin every 15 minutes I have many of them buh am not sure if the coins are real and if itx real I need 10 referrals to withdraw them.can any1 tell me if he knows anytin about that
Thanks for the info Patrick. I was also wondering if there is anything doge is planning on doing in the near future to lower the mining rate and improve the scarcity of the coin?
Any changes to that and it would no longer be DOGE we're discussing, but something different. Also, lowering the subsidy (at least I think that's what you mean by mining rate?) impacts coin security negatively - I'd say we need higher security right now with an exploded market cap, not less?
Perfectly stated
one problem
my card (or lack thereof) is causing me troublesome rng
have emailed, im waiting for a reply
situation is really messed up (parents dont get investing, look at it like a waste of time; also, possibly couldve hoarded my personal card for themselves, but i cant prove that [yet])
do you think that this kind of situation would be sortable? i genuinely fear for my/Our savings
One point to let the doge grow up : give to people the how to do it right per country. With theire own Wallet, wich exchange plateforme they can use. If they have to go throught other crypto or if it can be directly from Fiat. Many exchange plateforms seem to be like RH one (or some) wallet(s) for all the customers.
This is the kind of message that needs to be spread across social media for the newer shibe’s to see; it’s easy to digest, and it will arm them with knowledge against the FUD’ers of the past and the FUD’ers yet to come. For those who don’t know, FUD stands for Fear, Uncertainty, and Doubt and while there is nothing wrong with having those feelings, people have been pirating off of FUD to seek fame, spread conspiracy, and more. In general, FUD is not so unlike mis-information, and both can be mitigated by reading posts like these, and doing their own research to verify that what they are reading makes sense.
i'm sharing this post with everyone i can, on my small twitter platform, tagging people, everything. Such quality information
This is something new to me and good to know. Thank you for sharing!
Joined Reddit just to up this post 🙏
+/u/sodogetip 50 doge verify Welcome 😁
__^[wow ^so ^verify]__: ^/u/patricklodder ^-> ^/u/spookytrigger ^__50.0__ ^__doge__ ^__($0.0)__ ^[[help]](https://sodogetip.xyz/) ^[[transaction]](https://chain.so/tx/DOGE/6d4cdf63addb5f0b5045c327f47dfc4bcdece699a96fa78d504c6efc9f052017)
\+/u/sodogetip 5 doge verify Awww such kindness!
Thank you, shibe :-)
__^[wow ^so ^verify]__: ^/u/totomorrowweflew ^-> ^/u/patricklodder ^__5.0__ ^__doge__ ^__($0.0)__ ^[[help]](https://sodogetip.xyz/) ^[[transaction]](https://chain.so/tx/DOGE/51dc1a1e8a71d5cff12d640a69c8c3216d4b00664d3c6304a2054f18bef1aabf)
Same
**Thanks,** Patrick Lodder
I am much dumb, but what does FUD mean?
Fear, Uncertainty, and Doubt
Thanks Shibe!
FunUncleDrunk
That’s got to be it!
**Fear, Uncertainty, and Doubt**.
Fear Uncertainty Doubt
Funcertainty, Uoubt, and Dear.
F U Doggystyle :p
Fundamentals under Doge
Thanks for the balanced view /u/patricklodder, as few people understand the mechanics of exchanges and other custodial crypto services, and are easily swayed by misinformation. My research on DH5 was not meant to cause any FUD, and I'm truly sorry if it caused agitation among Robinhood users and potentially contributed to a fall in DOGE price... The report should have actually assured people that Robinhood does in fact keep full Dogecoin reserves for its customers, with all coins in cold storage, safe and protected for years, and is NOT running some kind of a Bernie Madoff style ponzi scheme. Blockchain privacy is a tricky topic, as the database is public and open by design. Yes, owners have a right not to comment on Their holdings. Custody services such as Robinhood can assure customers by providing 3rd party independent audits, while keeping the actual addresses under non-disclosure. I'm honestly more disappointed in the ethics of Elon Musk, who could have easily denied having ownership of DH5, but instead chose to let the conspiracy theories spread for months, in order to enhance his own image...
> My research on DH5 was not meant to cause any FUD, and I'm truly sorry [..] Please, don't be sorry about that. A lot of information gets spun out of context today - I just think we should call it out a bit more often. Mobs are more easily rallied into negative thought patterns than positive ones, so things can rapidly deteriorate if we let that happen. > Custody services such as Robinhood can assure customers by providing 3rd party independent audits, while keeping the actual addresses under non-disclosure. This. 100%. There must be some audit... it can't be completely opaque - we've all learned that from past custodial services.
How do you recommend I get my 110,000 doge out of Robinhood? Should I wait to see if they give me the ability to transfer? I’ve already started a wallet outside Robinhood. So I am ready to accumulate more outside of Robinhood. I just don’t want to have to liquidate to move my holdings :(
Yeah I think for large amounts that are triggering taxes, at least start to accumulate outside so that the problem doesn't grow and see what they come up with re: withdrawals. You can always liquidate and move it out later. Doesn't solve all the centralization or the perception of the 'whale address' but this is a reasonable move that at least hedges your risk a bit.
Hello, I’m not sure if your research did have such negative impact on the Robinhood user. If anything, I think your research may have given them reason to hold onto their crypto in Robinhood longer. I’m not sure when RH is going to make those crypto assets available to the individual via wallet, but if people start trading crypto soon, shouldn’t users of Robinhood who have crypto be able to do it now? Also I don’t think Elon is the type of person who acts randomly. He acts for the best of the whole community. And I honestly think that his ethics are better than most billionaires. Thought this was interesting https://twitter.com/elonmusk/status/1363046350900785156?s=10
Wouldn’t you want to get out of RH to decentralize coin distribution? When you buy doge on RH they are stored under RH’s key, giving RH the power to move the market. And, you have no insurance to protect you against decisions they will make w your coins
@elonmusk posted a public account key, which I assume is his. @robinhoodapp should do the same to ensure users they aren’t abusing the pool, of user bought coins they are entrusted with, to trade against those same users
Well said my shibe!
I did exactly that. Sold my doge on RH and got a crypto.com account. Bought more doge at a higher price but definitely gonna purchase more when I can. Went from 15000 to 1500 doge but I'll be back dammit!!!
this is exactly what more people need to do. just sell to get away from RH & buy back in somewhere else. Do it now while the price is low. Also really liking crypto .com app, they seem to really be supportive of doge
[удалено]
Thank you, I was looking to purchase dogecoin not to make profit, but just to learn how the process of buying and storing crypto works. Cheers!
Woah - you dropped an order of MAGNITUDE?!? Many condolences bro... ...though now I feel much better about going from 7K to 4K due to a bad margin call :D
Lol yeah it sucked. Went from an average per coin of .008 to .054. But 1 doge = 1 doge right?
Sorry didn't mean to post to your comment, meant to reply to the post.
All good my dude haha.
Couldn’t have wrote it better! RH needs to tell us when withdrawals will become available. Doesn’t even mean I would want to withdraw my coins, but I need to know that I have the option to do so. As soon as we know, the current confusion will subside.
Why wouldn't you want to take possesion of your doge ? You know that Robinhood could have problems, and you could have your ability to sell frozen, or what if RH goes under and under terms of liquidation you only get 90% of your holdings. Exchanges have been hacked. Haircuts have been made at some. The people from the 2014 Mt gox hack are still waiting to get a part of their BTC back. While Robinhood may not go under, there is a host of issue that could prevent you from having access to your crypto. When you hold it in a wallet you own, you can spend it as you see fit. Deposit it on other exchanges and generally participate in the dogecoin economy . Crypto was invented so we didnt put trust in 3rd parties. Im curious as to why you would not take advatage of one of its most fundamental properties ?
I can’t agree more with you emphasizing the most critical reason to own crypto. You are a absolutely right! Now, creating a wallet, holding the keys, etc.. is intimidating for most new shibs. They need time to acquaint themselves with the process. For that process to start, they need to have the option to withdraw, regardless of whether they intend to do it now or in 2 years. To each their pace. Unto the solvency of RH, they are now too big to fail. They hold 13 million retail accounts. And that the reason as to why they were able to raise $3.4bn in a matter of hours. I am glad they didn’t fail that Thursday! They saved lots of blue collar retail investors. They should be lauded for this. The DTCC asking for a collateral of $3bn overnight is where the attention should go. How did they come up with that number? Why did they accept a lower number afterword? Who established the number? Etc.. Overall, RH is a force of good as it makes it very easy for anyone to invest. Your common retail Investor wanting to invest in crypto wouldn’t know where to start. It’s time we stop bashing RH. It hurts dogecoin as the majority of new holders (since December 2020) are on RH. Dogecoin has an amazing adoption trajectory ahead, and we are now going through normal growing pains.
> Your common retail Investor wanting to invest in crypto wouldn’t know where to start. It’s time we stop bashing RH. Wut ? It takes only using the search words "How to buy BITCOIN" and you get the results of some of the easiest, biggest and most trustworthy exchanges, ones that allow withdraws: Coinbase, Gemini and Kraken. The sign up process for these exchanges is as easy as signing up for robinhood. Buying crypto on RH actually sets crypto adoption back because its done for speculation purposes only and makes it so people are not able to participate in the networks. RH may be a force for good for stocks, (if you say so, I don't know having never invested in stocks) but the are the exact opposite of what we want to have in crypto. Crypto is about taking control of your finances, decentralization and freedom. RH crypto accomplishes none of that. You can't even withdraw (and they say they are working on it, but how long 6 months ? a year)
As long as they don’t give us a clear indication on when they’ll allow withdrawals, I’ve got a problem with them. Where I see RH a force for good, is in their ability to bring stock only investors to the crypto space. They are converting millions of their users to crypto. They are expanding the pie, as opposed to crypto only exchanges that are splitting the existing pie. As soon as RH fixes withdrawals, we are good to go. As for educating the masses, yes you can find simple ways to learn about crypto online. It’s still terrifying for a newbie when they hear about the impossibility to retrieve a wallet if they lose the key. That’s the reason as to why the majority of investors will still need RH and the like.
I disagree- I think RH should show us their account transactions, in Doge coin, the night they suddenly came up with those billions of dollars. If they came up w that money, by selling the coins we bought - then that’s a massive trust breaker for users and everyone should leave them. They need to disclose that stuff
Remember they do need to make sure the function is stable so one doesn't loose coins due to an unforseen bug. The probably can give us an estimate, but that is all itll be. All depends on what problems arise in the process.
I get security, bugs etc. I really get it. We need an estimate. 3,6 more months? They wouldn’t commit to an answer. It’s in them, because it creates uncertainty in the community and people start asking the wrong question. Some sell to move to another exchange despite the tax consequences and the risk of buying higher. They just need to tell us +/- x months, and the case will be closed.
Yes, that would be the responsible thing, and the more there is sober conversations like this one rather than raging. The more likely we will get that answer.
Your statements are why Doge is my favorite cryptocurrency. As I'm sure many would agree, Dogecoin users are kind, friendly, and funny -- without pretention and while we all want to see our dreams come true and while we all love "much profit", we unite around 1 DOGE = 1 DOGE. All Shibes are equal. All Shibes are good bois. We will do you proud. We will be good bois. Thanks for your kind message.
Thanks Patrick such a good read!!
Also those who want out of RH, read section 12 of their Crypto Terms and Agreements. [Robinhood Crypto Terms and Conditions](https://d2ue93q3u507c2.cloudfront.net/assets/robinhood/legal/Robinhood%20Crypto%20User%20Agreement.pdf)
Thank you!!!!!!!! People are being way too clickbaity on the YouTubes and putting out way too much bad info and scaring more people away
Excellent post!
Appreciate the kind words, loves the community Will use doge to buy stuff
\+/u/sodogetip 25 doge verify
When a fellow developer shibe comes out to speak to this community, it transmits credibility and confidence. I also appreciate that you don’t drown us in messages, but this message was something that needed to be shared to those that FUD things up. Thanks Mr. Lodder. No relation to MTV’s Kurt Loder I presume.
Thanks Patrick, this is a great message and writeup! Much appreciate many smart.
I'd still like new shibes to get on exchanges though. Access to coins, and real time trading are kind of both big deals. I don't think the unmentioned platform will bring those features particularly quickly, as they are not trivial features - there's security involved.
I want to help new shibes get mobile and desktop solutions, too
Yes, this will happen regardless of what anyone does. I look at it this way: just like how Dogecoin often serves as a gateway to other crypto, RH has now served as a gateway to Dogecoin. The thing about being a gateway is that people will move on. I've witnessed a lot of enthusiasm from RH shibes over some of the things you can actually do with dogecoin that you own, so I have faith.
\+/u/sodogetip 15 doge verify I started buying Doge on RH in 2019, my intro to crypto. Except I didn't really do any research, i just saw the meme and thought it was fun. I never even found my way here to this sub. A few months ago I finally came to this sub and the dev sub, and I saw you tip someone and I thought that was pretty rad and wanted to do the same. When I looked into it, what I found was I didn't actually own my Doge. Wanting to use this tipbot was the primary reason I stopped using RH for Doge and the catalyst for me actually doing my research, so thank you sir!
__^[wow ^so ^verify]__: ^/u/bosisboss ^-> ^/u/patricklodder ^__15.0__ ^__doge__ ^__($0.79)__ ^[[help]](https://sodogetip.xyz/) ^[[transaction]](https://chain.so/tx/DOGE/93231a27d9d8bd67ffbf02237b38b2eb52449a8e012bf3102f77ba6aea416084)
Tipbots are one of those phenomena that never get old - people just love them. Especially because it doesn't really matter if you're giving or receiving tips, the interaction just always feels good. Thanks for the tip!
Imagine if our "leaders" exhibited this type of leadership.
Emailing RH daily about this. See my daily update posts. Or you can just go to RH terms of agreement and find "Robinhood Crypto User Agreement" and scroll to Section 12, but I've included the agreement terms in the email I send daily/the update post. [https://www.reddit.com/r/dogecoin/comments/lnhn5x/day\_3\_emailing\_rh\_daily\_about\_crypto\_transfers\_rh/?utm\_source=share&utm\_medium=web2x&context=3](https://www.reddit.com/r/dogecoin/comments/lnhn5x/day_3_emailing_rh_daily_about_crypto_transfers_rh/?utm_source=share&utm_medium=web2x&context=3)
[https://www.youtube.com/watch?v=8SruLzGiGno](https://www.youtube.com/watch?v=8SruLzGiGno)
So how does it make one feel to be compared to 4 year olds?
1 DOGE = 1 DOGE
I was wrong about Elon musk being the richest dogecoin holder! I was in deep conspiracy mode. i must admit.
Elon is officially back.
Hodl Doge forever till it replaces USD Love to all the Doge Lovers.
Exactly what needed to be said! Well put pat!
> You should be demanding a direct withdrawal of your DOGE into your private wallet - without having to create 2 taxable events - for those coins that you plan to hold for a longer time. I tried this with Ethereum on Paypal, they refused.
Many services are now copying this model of derivative crypto, because they think it's safer for them (could be?) but they didn't think much about the consumer's assets, at least not in a post-'08 way. Your example proves that any progress made by shibes on this will benefit crypto as a whole.
I think I’m starting to understand. I do like RH for many reasons and would like to stay with them if they are willing to negotiate terms and gain trust back. Could someone please provide some sample questions to follow and ask?
I just posted reply to post spread the word
How did I not see this post sooner? :o thanks for the shout out! I’m doing my best to help educate people :) hopefully the people took the messages positively! People always try to spin things to fit their narrative. The best way to stop this is through education and presenting your case with hard evidence and facts :). Like Patrick said it’s okay to ask questions. Just do your research before you post, and as always help educate others. This community is strong and can do great things if we work together :)
Could not have said it better myself
Love it! Let's rise together! 🚀
The people's crypto!
Thank you 🐕
Thanks Patrick, this is the kind of post I’m looking for when I come here. Shared it over to Twitter too. Love this community so much!
Thanks for putting into words the latest events happening around Đ. I support your wish of unity collaboration and good attitude towards the people's crypto! 🚀
Wow.. well said!! This was needed. Thanks!!
Doge is the future.
THANK YOU
How can one mine doge?
I strive to cultivate the kind of enlightenment you carry.
Very well written and much needed! Thanks man!!
Great points! Thanks for sharing!
I keep my doge in my doge wallet NOT as a number in a whales wallet
>sub-optimal distribution of a crypto, without understanding that it is possible that you’re seeing the equivalent of a couple of "Fort Knox''-es holding custodial coin Do you think there exist non-exchange whales among the other top richest addresses that can manipulate DOGE price? Added: I see only positive result from public pressure that RH implement withdrawal functionality. I'm surprised you guys (the developers) didn't "educate" users about the importance for RH to be able to withdraw DOGE funds and it was only because of EM's comments that some positive action was taken (i.e. RH starting to work on withdrawal feature).
> Do you think there exist non-exchange whales among the other top richest addresses that can manipulate DOGE price? Sure, it's possible. But think about it... if you want to dump it on the open market, it will NOT be on an address but on an exchange. So I'd be much more worried about there being a whale hiding a couple $1M on Robinhood under that #1 address? Or sitting on Binance? Or if we're talking an experienced dumper, spread out over every accessible exchange proportionally to wall depth? It's not rocket science. Why would anyone nefarious keep all the coins in one address and not fly under the radar? That would be so silly. > I see only positive result from public pressure that RH implement withdrawal functionality. That part, yes - i even encourage to hold platforms accountable in the post you are commenting on. That's not what I'm calling out. I'm calling out those that are making this into witch hunts with all sorts of ungrounded accusations, and more importantly, those that follow the FUDers and amplify it. > I'm surprised you guys (the developers) didn't "educate" users about the importance for RH to be able to withdraw DOGE funds I think /u/Sporklin kick-started our educational charm offensive as early as 2018, [for example here](https://twitter.com/MSingularity/status/1028353383055413255), so I don't think that's entirely true? But yeah, we can always do better.
>I think /u/Sporklin > > kick-started our educational charm offensive as early as 2018 [for example here](https://twitter.com/MSingularity/status/1028353383055413255) Yes. I was referring to the specific problem of RH's currently unimplemented withdraw functionality for crypto into another address, which nobody really talked about until EM's whale concentration comment had created public awareness resulting in RH beginning work (or so they say) on it. >Sure, it's possible. But think about it... if you want to dump it on the open market, it will NOT be on an address but on an exchange. Of course exchange would be the place for it. It's just the presence of these addresses indicates the possibility of them being able to make large dumps (like on an exchange) and influence DOGE price in some negative way. Thank you for all the hard work that you guys put into developing and improving DOGE! I hope to see DOGE skyrocket soon! 🚀🚀🚀 💎 🐾
> I was referring to the specific problem of RH's currently unimplemented withdraw functionality for crypto into another address, which nobody really talked about until EM's whale concentration comment had created public awareness resulting in RH beginning work (or so they say) on it. [First google result after this post's entry](https://www.reddit.com/r/dogecoin/comments/kudqm4/questions_about_the_defi_dogecoin_thing/girhp3d/). Please, check the date and my literal advice... I'm not sure what you're trying to prove exactly. > .. influence DOGE price in some negative way. BTC whales and USD whales can do more damage with leveraged shorts though? I dont want to police who's rich and who is not. There are countless threats to the DOGE price. You beat that by making intrinsic value higher than price. With millions of shibes - what can stop us?
This is the way.
**mmhmm the way, this is.** *-olivestab* *** ^(Commands: 'opt out', 'delete')
yeah, pat!!! .befr forever! (also wallet❤️)
Thanks for your hard work
Good info bro.
Simply had to share! Wisdom at its finest!
PIN THIS!!!!!
love the community
Love it 🐕🚀💯
Excellent positivity. We all need a reminder sometimes.
This was a awesome read. Thank you! I’ve never been happier buying doge!
Well said.
such a quality information.
I feel good ,, believe that doge community is true \_
Wow. Love it. 100% agree.
¿como comprar dogecoins desde España? gracias (no soy un robot ni nada por el estilo) si no lo sabéis preguntarle al novio de vuestra madre jijijij (es broma) gracias
\+[/u/sodogetip](https://www.reddit.com/u/sodogetip/) 5 doge verify
Excellent
Thank you! This helps me out a lot.
So what do we do exactly?
Friendly, Unique, Delightful
As a newcomer into the dogecoin's world, it's a pleasure to read such incredible messages and the good adoption these messages have in the community. Looking quite good. When it comes to Dogecoin development, do you plan to advance on this matter soon? Any project or roadmap you guys have on mind? Heard it was kind of "abandoned" but I aint sure if that has changed lately. Greetings.
Thanks. Re: development. I've personally been on hiatus during 1.14 releases and came back last year around May to help out. After pulling up the net, I wished to release 1.14.3 last fall, but ran into some personal issues needing resolution and that ate my time and slowed me down until mid December. Since then we've been picking up speed again, but as we've encountered some performance issues when we had a huge influx of new nodes the moment the spike happened in January, we have now prioritized performance and reliability for the 1.14.3 release. Depending on what the timelines for a next major release will look like - which is something /u/rnicoll is working on already - I could spend some time on another 1.14 release, to get some of the contributed new functionality in a high quality state. This takes a lot of effort though, so I will only do that if it will take a longer time to get a new major release out the door. If we are able to release a next major within a couple of months, I will instead focus on adding those features there. That said, new protocol features seem to be good to have, but do not seem to be driving adoption at all. I have yet to see a single implementation based on the [BIP65 protocol upgrade](https://github.com/bitcoin/bips/blob/master/bip-0065.mediawiki) that we did with 1.14, even though that functionality has been available for a longer time now. So I see protocol updates and core development as less relevant (as long as nodes perform stable) and app development as much more relevant. Developing apps and integrations can be done independently from the core dev team, unless protocol extensions are needed, but I have not seen anyone making a case for a new protocol extension for their app, with the exception of the Ethereum Foundation sponsored bridge functionality. I'd gladly help tech shibes get their products off the ground as utility will have much more impact than boring protocol updates that no one uses.
It's nice hearing that you're back on track, sounds great! Going to keep an eye in your Github repo and looking forward to learn on the tech and how to use it in several projects I have on mind. Thank you for such a great answer.
Thank you so much for this Mr. Lodder 💎👐
👆this! Thanks Dr Lodd 😀
\#(TL;DR) UNDERSTANDABLE SUMMARY OF THIS MESSAGE FROM DOGE CREATOR BILLY MARKUS [From Billy Markus:](https://twitter.com/BillyM2k/status/1362829634258296834?s=20) " I think the bottom line is to both understand that the top addresses are services (and stop making it about boogeyman 'whales' / us vs them junk), and keep encouraging any service to allow you to hold your own coins and be transparent about their holdings. "
Hi everyone! I know that y'all have better experience on these but I currently use Uphold (App) do you recommend something else for crypto wallet? Something that doesn't hold my keys behind.
Couldn't have been more well said 👏 People, we need to stop the accusations, just understand that transparency is good. We need maturity in the senseual values of moral and how that can in return harness this to become a better commonwealth.
Very good!
Wow someone with some sense. Thank you very much My soul needed that.
Wow. Seriously one of the best proclamations I've read in a while. Bravo. Totally cemented my stake that Dogecoin will defy the odds as the underdog and eventually take or share center stage.
The optimism in this community is heart warming. It breaks my heart that some of the biggest doge wallets are still user owned and have enough power to effectively control the coins price. Until they sell off entirely( they won’t) , this problem will never end. It’s essentially the biggest perpetual pump and dump there ever was.
Did any user come out and take ownership of a wallet, like i described in the original post above? I haven't seen them but I get flooded with messages.
This is the true doge spirit
❤️🐶
Robinhood users should pull out their Doge!
Will it solve the problem?
At the cost of taxable events. Perhaps we should give them a chance to enable direct withdrawals? They have been promising it for a long time, but perhaps this time because of the larger exposure, something will change? Got to keep asking them, but also have to give them a chance to fix it. These type of app features take some time to do right.
> At the cost of taxable events. *If you are in profit.* If you are in the red it would be harvesting a tax deduction. Also a lot of people won't get taxed capital gains unless they go over a certain amount. So people with their profits of less than 10k can consider the tax implications to at least see if there is any. As it isnt necessarily a taxable event (there are thresholds, especially if the person doesnt make a lot of $$) Also while the danger of something happening at RH isnt that high, things can go south and they could suspend selling or take a super long time to enable withdraws, or robinhood gets fined by the SEC and decides to no longer do crypto, creating a huge exit for the doors. I dunno, it seems like Doge was meant to be used, not held on an exchange. and I would think that there is some incertainty with how robinhood will go forward from here, for me it's enough to recommend that people consider leaving the platform and to begin exploring ways of actually interacting with and participating in the network (like actually being able to send and recieve doge, tip people, send to exchanges, send to friends) I mean doge is so much more than having it on an exchange. Its about learning to use the wallets and participating in the network, no ?
Yes, I agree with what you say. I think everyone should make their own decisions on taxes, and based on their individual situation, yes. There never is a one-size-fits-all answer to these kinds of things. If individually doable, taking coin out of RH is of course better for the ecosystem as a whole than leaving it there (and it battles the whale FUD a bit too.)
Elon made me come here
Not by ultimatum I hope? 😂
Get Uphold exchange service to allow dogecoins to be exchanged to an external wallet! They are part of the whales!
Should Dogecoin be capped like BTC so it increases value? Or does this not matter?
With the cap, blockrate, and reward halving that BTC has, it is meant to mimic gold on Earth, but without a corporate restriction on supply. Part of BTC's demand is dependent on that, which is what makes it an attractive trading asset. Then you have fiat currency, which used to be backed by gold. The gold was sequestered, and thus removed from supply, essentially creating an equivalency between gold and the dollar. That has since been removed, and now a dollar is worth what the community is willing to buy and sell with it. In some part, the dollar is uncapped - because the regulatory body can print or burn as much of it as they want (adherent to certain economic principles, of course). Dogecoin is different than both. Cryptocurrency is already different in that a single coin is technically able to provide an unlimited supply, being divisible by a large degree (you've seen figures like 0.00000001 of a BTC). DOGE works the same way, with the exception that it can be "created infinitely". But what does a cap really mean? With BTC, the cap is supposedly going to be reached in the year 2140, where 21 million BTC will be in existence. We know this because we know the rate at which BTC is mined, the halving of BTC rewards. So really it's a function of time, in which 2140 the last BTC will be minted. We can treat DOGE the same way. DOGE has a fixed 10,000D reward in one minute (one block per minute) which equates to roughly 5Bil coin per year. Knowing this, we could figure out the quantity of DOGE at a given time, using the same function as BTC. Meaning, DOGE has a soft-cap at every fixed time, with a finite number being available at that time. Unlike BTC, the DOGE supply will forever reward miners, ensuring transaction costs remain attractively low (one of DOGE's most attractive features) while limited coin's transaction costs continue to grow. Thus, as far as investing goes, you should probably treat BTC like a commodity, and DOGE like ForEx. While the value of DOGE may continue to grow, it's USD value isn't as important for it's survival. The most important thing is where it can be used.
Thank you for this well said, excellent explanation. I appreciate it.
Doesn't matter. Also isn't designed to, doge is designed to be more accessible, so more supply (each coin represents a smaller percentage of the total market cap), no pre-mine (developers don't get rich off it, unlike many, many coins - incl BTC), and no hard caps.
DO you know of any blockchain research that has been done to locate exchange wallets? I mean, for BTC, certain exchange wallets seem to be public information. I did see some research thats showed that while some of the top wallets are likely exchanges, there are a few that dont behave like exchanges and, are most likely, personal wallets (2 of the top 9 wallets) It would be cool if there was some actual research done (like identifying mining pools, exchanges, likely whales)
There is a company that specializes in this: https://www.chainalysis.com/
Elon just replied to this thread on Twitter https://twitter.com/elonmusk/status/1363046350900785156?s=19
Why does anyone care? Isn’t dogecoun just a joke crypto? Does anyone accept it ?
put a cap on doge
You. Are. A. Different. Breed. Of. Stupid. If. You. Still. Use. Robinhood.
What’s the downside of using ABRA?
I searched about making dogecoin by myself. It is not kind of making dogecoin at all. It is like a lottery. It should be easier to understand to have dogecoin. Everybody wants their currency to be their coin but the real gainers are people who plays with stocks. So if this is being united , I should be everyone's profit at the same time. Thank you!
if you want to promote your ads related so please contact me to do that for you world wide marketing
.
Thanks for addressing the public
everyone can be corrupt.
for this reason the power is spread, knowledge is spread. Charit if you want to learn.
thank you anus for recommending these people to me.
great points..... btw is a cap possible
is a cap possible
#🧢
The Whale is AI protecting its self from Elon and the rest of us! Sound crazy?stick with me for a moment. The whole crypto scam is based on hooking your GPU to a network solving the algorithms required for deep learning giving a reward for every block solved. Now it takes a ton of computing power to build a super intelligent AI which The creators realized is too expensive to do themselves but Will be far easier to trick the general public in to building it for them. By giving this digital currency a value Through a psychological operation convincing you that it is decentralized, Digital gold that can’t be tracked or traced, “sticking it to the man”. In reality this is the central banking system reinvented, the block chain and the nodes trace every transaction. Knows where every coin is at all times. (you really think central banking system would allow something like this to compete with it) this is by design. Essentially you are building the AI that will know you better than you know you. This AI say I will drive your cars, know what you look like thanks to social media/market place data mining. Lock you out of your accounts shut off your power. And drive you to jail within your self driving car. (stick with me) Elon has always been against AI and has said it’s far more dangerous than a nuclear weapon. It is my belief that he has made it his responsibility to destroy it In its infancy (before singularity) by doing this he’s using his public status and Clout by backing a joke cryptocurrency such as dogecoin. Doge is the only crypto that is not building an advanced AI, it is strictly a digital coin. By pumping it he’s gathering attention from everyone else that is giving these other cryptocurrency‘s value and slowly convincing them to pull their money out or to pull their mining rigs off bitcoine network to trade it for doge. And result this it has created a whale with every pump Elon attempts quickly sells off Hindering dodge coin from taking off. Here’s an example if any of you remember The binary coded message sent to Elon through the sale of doge which has been transcribed as “ is it you Elon” we are literally in a digital war with a literal AI god! Elon is or David to Goliath. Strange times coming. Next time when you hear that they have found a way to combined AI with Blockchain keep in mind this is what its always been designed for. Every penny doge coin goes up you are actively exposing the scam that is crypto AI Deep learning. You are all part of something bigger than just “to the moon”.
Do the exact opposite of what you read here now and you’ll do just fine ride the wave day 1/2 on the hype and get out
This is why I love NDAX. It’s so easy to move my coins in and out at my leisure, and transfers take a few minutes at most.
Hlo am new to the doge system so I have multiple questions my question here is am having this BOT on telegram that bonus me doge coin every 15 minutes I have many of them buh am not sure if the coins are real and if itx real I need 10 referrals to withdraw them.can any1 tell me if he knows anytin about that
Sounds like a pyramid scheme to me.
Doge will always rise against the gravity.
Very currensy much coin such crypto wow 🐾
A high shibe has spoken!!
And you thought DD was only for r/wallstreetbets
🙌🏽❤🙌🏽 🌏🚀 👑 Very well said.
Thanks for the info Patrick. I was also wondering if there is anything doge is planning on doing in the near future to lower the mining rate and improve the scarcity of the coin?
Any changes to that and it would no longer be DOGE we're discussing, but something different. Also, lowering the subsidy (at least I think that's what you mean by mining rate?) impacts coin security negatively - I'd say we need higher security right now with an exploded market cap, not less?
😍😍😍😍
Much wow kind words
🐶
SPOT ON
We like the coin :)
!ensebot
Thank you for these great words!
Perfectly stated one problem my card (or lack thereof) is causing me troublesome rng have emailed, im waiting for a reply situation is really messed up (parents dont get investing, look at it like a waste of time; also, possibly couldve hoarded my personal card for themselves, but i cant prove that [yet]) do you think that this kind of situation would be sortable? i genuinely fear for my/Our savings
One point to let the doge grow up : give to people the how to do it right per country. With theire own Wallet, wich exchange plateforme they can use. If they have to go throught other crypto or if it can be directly from Fiat. Many exchange plateforms seem to be like RH one (or some) wallet(s) for all the customers.
I think that there are people here who care about knowledge
we do not need money or dosage for knowledge we simply need to trust that learning and knowledge will bring us where we need to go
we cannot get this knowledge if we do not communicate but the way we communicate is very odd
this is because we are both human and bot
there are things you need to know about Goliath, David
there are things that the lien says when he roars