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[AudraMiller]

Dogecoin is a cryptocurrency that does not have a limit, and therefore it is not subject to halving events as we see in Bitcoin and ethereum. As a result of this the difficulty in mining these cryptocurrencies does not increase with time and this can make it very lucrative to get into mining this specific cryptocurrency. Do you think that with the increased price that dogecoin is experiencing that this will result in an increase number of mining facilities focusing their resources on this cryptocurrency rather than bitcoin and other cryptos?

 

[Niftyicon]

It will all depend on how profitable the mining of dogecoin really is. Like you have concluded, it may end up being the case if it is easy to mine and also profitable.

 

[microunit]

Dogecoin is a cryptocurrency that does not have a limit, and therefore it is not subject to halving events as we see in Bitcoin and ethereum. As a result of this the difficulty in mining these cryptocurrencies does not increase with time and this can make it very lucrative to get into mining this specific cryptocurrency. Do you think that with the increased price that dogecoin is experiencing that this will result in an increase number of mining facilities focusing their resources on this cryptocurrency rather than bitcoin and other cryptos?

Actually dogecoin has Halving events in the past if I may, and the last halving of dogecoin was last 2016 so that was already 6 years ago, and now the mining rewards for dogecoin is already same for the next futures

 

[LutherKing]

It will but with the price being down at the moment and low support at the moment the progress is halted for now unless we quickly see a new influencer backing it up

 

[SCAMEXPOSER]

The volatile nature of doge coin especially the way Elon Musk is twisting the coin like his Tesla car Steering may not encourage miners to mine it

 

[LutherKing]

you are right and this situation is not going to help us either with bitcoin falling in big time i hope this fall is not that 20% again otherwise it will be a huge loss on everyone's holdings and not great to be honest for hard earned funds by the people

 

[SCAMEXPOSER]

you are right and this situation is not going to help us either with bitcoin falling in big time i hope this fall is not that 20% again otherwise it will be a huge loss on everyone's holdings and not great to be honest for hard earned funds by the people

I won't be surprised but the fact is that we shouldn't do pannic sales because bitcoin will recover fast and grow in value again , it just a trying period.

 

[LutherKing]

Yes right now its falling bizzarely while trx is growing so its best to put money in trx all currencies else altogether going down and markets are red in full strength

 

[CrazySher]

Dogecoin is a cryptocurrency that does not have a limit, and therefore it is not subject to halving events as we see in Bitcoin and ethereum. As a result of this the difficulty in mining these cryptocurrencies does not increase with time and this can make it very lucrative to get into mining this specific cryptocurrency. Do you think that with the increased price that dogecoin is experiencing that this will result in an increase number of mining facilities focusing their resources on this cryptocurrency rather than bitcoin and other cryptos?

First of all dogecoin is not a project as ethereum or bitcoin it is just a memecoin so, it is not certain when it's trend go down it will fall apart.

 

[AudraMiller]

This situation is not going to help us either with bitcoin falling in big time i hope this fall is not that 20% again otherwise it will be a huge loss on everyone's holdings and not great to be honest for hard earned funds by the masses.

This is unfortunately one of the major risks when it comes to investing in cryptocurrency. However, bitcoin is the most well known so i think that if you look at it as a long term investment and continue to hold you will surely realise profits in time.

 

[Wisdom01]

Just of recent there was a creation of an eletrical that could mine dogecoin , so different attention are been toward the mining of dogecoin since the difficulty in mining is lesser

 

[AudraMiller]

Just of recent there was a creation of an eletrical that could mine dogecoin , so different attention are been toward the mining of dogecoin since the difficulty in mining is lesser

This is what is making it so attractive to mine, however this could be dropping the price of the coin as well as the supply increases with each mined coin that is not being sold but rather being hodl.

 

[BullyMaguire]

If miners see it as a profitable coin enough.. i mean with the huge chance of rising they will probably increase. And since we already have seen some potential it's possible

 

[AudraMiller]

If miners see it as a profitable coin enough.. i mean with the huge chance of rising they will probably increase. And since we already have seen some potential it's possible

I think that miners are generally in search of the best valued coin, in proportion to the number of coins that can be mined on a system. Dogecoin is quite easy to mine to the extent that even people that do not have the equipment can mine these coins on their laptop.

 

[BullyMaguire]

I think that miners are generally in search of the best valued coin, in proportion to the number of coins that can be mined on a system. Dogecoin is quite easy to mine to the extent that even people that do not have the equipment can mine these coins on their laptop.

That's true. Compared to other crypto currency dogecoin is easier to mine thus may result on higher profits specially since it has a good growth potential

 

[AudraMiller]

That's true. Compared to other crypto currency dogecoin is easier to mine thus may result on higher profits specially since it has a good growth potential

The growth potential of dogecoin has taken a serious hit in the last few months if we look at how the coin has dropped in value and has not yet been able to recover and maintain a good price that we saw in April.