Does Dog Coin need mining
in fact, virtual coin players with a little common sense all know that dog coin has the following fatal defects:
1. First of all, the code of doggie coin is completely copied from Leyte coin. The wallet of doggie coin in the early days has LTC words; Secondly, the founder of dogcoin left the development team in April 2014 and announced twice to quit dogcoin community; Thirdly, up to now, dogcoin still does not have a stable development team. Most of the online volunteers who joined dogcoin development team in the early days have quit. After the founder of dogcoin announced to quit dogcoin community again in March 2015, the development work actually stagnated
2. Dog money has no support of calculation power, that is to say, it has no real value, and its price performance is purely the result of speculative market game. In September 2014, in view of the collapse of computing power, doggy coin abandoned the mining mode and implemented auxpow, that is, to give doggy coin to any mine pool supporting this mechanism. This means that dog money is no longer the object for miners to profit from mining by purchasing equipment. The reason why the mine pool chooses to support dog coin is to get free dog coin< 3. There is eternal inflation. Under the background that most virtual currencies choose a fixed total amount, dog coin is set to increase by 5.2 billion every year, which makes it face serious inflation pressure. Because the new dog coin is given to the mine pool for free (the gift mechanism may be cancelled at any time), the miners will not have any feelings for the dog coin, they will only sell all the new mines. Inflation setting is an innovation of the founder of dog coin, but it completely violates the pricing principle of virtual coin: that is, under the premise of fixed total amount, through periodic halving, let the computing power and price reach a balance, so as to form a reasonable pricing mechanism. Dog money does not abide by the principle of fixed amount, and now even the computing power has been given up, indicating that it is not a standard virtual money
4. Illegal use of the logo registered by ultra Pro company may be prohibited at any time. As we all know, the dog coin borrowed the well-known Chaigou's head picture from the Internet. The "foundation" established a year later claimed to be trying to rush to buy Chaigou's head picture. The effect was just to comfort the fans. At present, ultra Pro company tacitly allows dog coin to borrow its logo, but it may be withdrawn at any time
5. Chinese speculators have completely dominated dog currency trading, and the trading volume of domestic exchanges accounts for 90% - 95% of the global total. It can be said that dog coin has been fully accepted by the Chinese, and the degree of nationalization is far higher than bitcoin, reborn coin, bitstock, and even higher than Leyte coin. The terrible thing is that Chinese speculative market is seriously separated from foreign community culture. The Chinese controlled the trading volume and chips, but never went deep into the foreign community of dog coin. They not only did not participate in any development of dog coin, but also completely ignored the tip and charity culture of foreign dog coin. Chinese speculators regard foreign communities as "idiots" who constantly create favorable conditions. Foreign communities regard Chinese speculators as the cancer of price manipulation. This is the separation of the interests of speculators and currency experimenters, which is inexcusable and irreconcilable
6. At the price of 1%, the main value of 100 billion yuan is 100 million yuan, and the annual value of 5.2 billion yuan of new mines is 5.2 million yuan. In the off-season, the global daily trading volume of dog coin is only 100000-150000 yuan. In case of systemic risk and large-scale cash out of users, it is impossible to have enough funds to resist the current price. So, where did the money go? The answer is that most of the locked up funds have been taken away by miners, and there is no possibility that these funds will return to the dogcoin market. If you want to get rid of the powder, you can only make a false appearance and cheat the new people to add fresh blood.
dogcoin is a kind of cryptocurrency, similar to bitcoin, which is formed by some secret algorithms. At present, the price of dogcoin has risen sharply, and it has the trend of breaking through bitcoin
3. Can dog coin be obtained by mining
can dog money also be obtained by mining? The answer is yes, because dogcoin is also a kind of virtual currency, so it is also constructed through an algorithm. Therefore, dogcoin can be obtained through computing power. Compared with the fierce competition of bitcoin, dogcoin is much more convenient to obtain through mining. But because the price of dog coin is too low, mining to get dog coin can't even earn electricity, so mining dog coin is unprofitable
dogcoin is actually a kind of virtual currency just like bitcoin, but dogcoin is a kind of virtual currency of Shanzhai bitcoin, and its price is relatively low
3. Is virtual currency safe
so why do so many people choose virtual currency instead of real capital, such as gold? This is because different countries have different supervision systems on capital currency, and many countries and regions have basically zero supervision on capital currency, so some people take advantage of this kind of supervision to invest in virtual currency crazily and make profits from it. However, this era has passed. With the development of virtual currency, more and more countries pay more and more attention to the management of this kind of currency. At present, the Federal Reserve has tracked all bitcoin. I believe that the spring of virtual currency has gone away
the principle of bitcoin and dogcoin is that different types of mining options only use different software. Does the mining of virtual currency sound much more complicated than the mining in the general sense? In fact, it is not difficult to understand. The simple meaning of virtual currency mining is to let the graphics card carry out mathematical operations and allocate virtual currency according to the percentage of the amount of calculation. How does virtual currency survive in financial market? Since the birth of digital currency, there are several elements supporting its ecological chain, and they can not carry out mining transactions and payments. The way to obtain virtual currency is also inseparable from mining
any store trading with cryptocurrency does not need to pay taxes, nor does it need a lot of capital management fees. The international circulation is very convenient, and it is a very popular currency transaction mode for people and merchants all over the world. Without the control of the central bank, the quantity is limited and can completely resist the pressure of inflation. So as to maintain and increase the value of the common people's wealth
Amazon considers accepting dogcoin payment, I don't think dogcoin will surpass bitcoin
secondly: the total amount of currency the third difference between dogcoin and bitcoin is the total amount of money. At the beginning of the creation of bitcoin, Nakamoto set its total number at 21 million. In order to better solve its own inflation problem, the founder of doggy coin issued 100 billion doggy coins in the first year and then 5 billion doggy coins every year. Therefore, there is no limit on the number of dog coins issued. Things are rare, bitcoin is certain, dogcoin is unlimited, dogcoin value will not exceed bitcoin
finally, based on the two biggest differences between dogcoin and bitcoin, it shows that the value of dogcoin will not exceed that of bitcoin