Dogecoin. Best time to invest?
Hi everyone,
I think now, more than ever, is the best time to talk about Dogecoin and it's community.
Dogecoin is here with us for a very long time, starting it's journey all the way back in 2013 (specifically in November) and to this day the Doge community grows ever so slightly everyday. Now you may ask - "What is this Dogecoin and what's it for?".
What is Dogecoin and what is it's purpose?
It is a decentralized cryptocurrency based on the SCRYPT algorithm inspired by Litecoin infrastructure mainly intended as a way to tip creators. The biggest difference from other conventional cryptocurrencies is that Dogecoin doesn't have a coin ceiling and has a huge amount of coins in circulation (compared to similar currencies) - in other words, the coin "suffers" from inflation.
The community
Still with me? Good. Now let's talk about possibly the best thing about Dogecoin - people around it. It is by far the biggest, oldest and most importantly, the most loving place in the cryptocurrency world. And we - the STEEMers know just how big of an importance is the community for the coin. Just take a moment to appreciate the kindness and generosity of the folks over at the Official Dogecoin reddit page.
Why invest?
Firstly, Doge is a very stable coin - even if you bought today and the price didn't go way up, you won't be looking on a loss - especially not a big one. Secondly, it's VERY cheap (Overview at Coinmarketcap.com), so you will not need your life savings for a hundered or even few thousand coins.
Ultimately Dogecoin is a currency that needs care and time but with more people coming in (hopefully you!), the coin has a potential to go way, WAY up and finally someday "reach the moon".
I hope this wasn't too short and inspired somebody to join the community! And for all the shibas out there - remember: HODL and 1 Doge will always be 1 Doge. Thanks for reading!
Dogecoins do inflate at a rate of 5 billion per year, but keep in mind that all fiat currencies do as well and are perfectly usable. The difference is there isn't a government or corporation in charge of the inflation, so there isn't going to be rapid devaluation from it
The 10,000 coins minted per block go towards paying the miners and securing the network allowing the system to live onwards. This coin is one of the old-school bitcoin offshoots and it will be around for a long time to come. The community is still active and the development team are still bringing new features to it
I'm not INVESTED in Dogecoin. I HAVE some. And I think that's pretty cool.