Doge is the cryptocurrency that was created with the sole purpose of being a meme. During the time it was created most altcoins were ridiculous and had no purpose. Doge has the Shiba Inu meme at its core in order to explain how much of a joke the cryptocurrency market was at that time. An internet meme that has grown so much to now hold an 80 billion dollar market cap. It's not a joke anymore, but something alarming.
Doge has reached $2.5 fees on average and the hype is still hot as Elon Musk keeps shilling this joke coin.
Source: Bitinfocharts
I was using Doge too. It was one of my first cryptocurrencies when first I tried testing the field with faucets back in March 2017. I withdrew Doge from a faucet in a Doge web wallet, just to test and found it was cheap and fast.
One of the things everyone loved about Doge, was how cheap the transactions were. Well, now they are not cheap at all. You will need $2.50 just for a single Doge transaction, making it one of the most expensive cryptocurrencies to move.
This is the fate of all blockchains that have stalled in development terms. DogeCoin has been abandoned for years and has not had developments. BTC became another meme coin without developments or purpose, and as Doge, fees are making these two networks completely useless. BTC since the Blockstream takeover has had minimum development and an undefined purpose.
Meanwhile, Bitcoin Cash keeps developing and exploring ways to increase scalability to achieve a network that could reach hundreds of millions of users. Bitcoin Cash, with more transactions than Doge, has average fees of less than a penny and while sometimes the fees may rise to $0.03 this is not frequent and drops again to below a cent.
If I was a Tesla investor I would be very concerned with the judgment of the company CEO. The same if I was involved with NASA and sending astronauts into space using a SpaceX spacecraft.
Caution: The following video has extremely low intelligent questions and responses.
Musk actually thinks that Doge is a real currency. I can't stress how much misinformed he is if he truly believes this.
Elon Musk of course is rich AF and doesn't care at all about the $2.5 fees. I wouldn't say the same about the rest of 7.75 billion people.
Meanwhile, the /r/cryptocurrency Reddit community, famous for spreading hype, fomo, and misinformation, is now blocking articles based on facts.
Source: Reddit
The admins or r/CryptoCurrency are in their usual pathetic attempts to hide the truth. Anything as long as it pumps our bags, am I right r/CryptoCurrency?
Another disgrace and another low by this Reddit community that seems to be antagonizing r/Bitcoin in censorship and lies.
If this post was another Doge elegy then nobody would have deleted it. Of course, when the admins of r/CryptoCurrency have sold their bags, everything will be fine.
I replied to the moderator that deleted this post exactly what I found. There was no other post not in the top-50 but probably not any at all in all their community that was discussing DogeCoin fees.
It was removed because r/CryptoCurrency is known to promote posts that are only favorable to some cryptocurrencies and present a bullish case. But of course, not for every cryptocurrency, the same rules apply. Just those that help the admins of /r/CryptoCurrency and their investments.
Final Thoughts
Bitcoin Cash needs nothing to do with Doge hype and celebrities like Musk promoting it. In a previous post, I explained how Bitcoin Cash could help any business if it adopts it, and had Tesla as an example. However, I never wanted Musk or someone of his popularity to begin mindlessly shilling Bitcoin Cash and create artificial demand out of hype. This is the last thing we need.
Bitcoin Cash has merits that probably no other cryptocurrency has. I know there is Nano, Dash, Monero, and a few more that have competitive features and could be used for everyday transactions. I am just choosing Bitcoin Cash because I love Bitcoin and the BCH version of Bitcoin is the approach that has potential.
Sadly for Bitcoin Core, BTC is now just competing with Doge as to which meme will become the most popular. We can call it the meme-wars.
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Sure!Dogcoin started from Meme and once it was leading from front.But now its transaction fees are gradually increasing that in near future made it just a meme and nothing like BTC.I have same thought BCH has real feature and r/cryptocurrency should not hide the facts.The Admins of community might be have censorship problem.But freedom of speech and freedom of money is main thing.That is why people like Crypto and in true sense BCH is only one that has all these features.So these communities NIR hide the true facts on Reddit.