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by sentinel
1721 days ago
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You are correct that they both work very similarly. In fact doge was heavily inspired by BTC. Both have PoW and coin minting as a result of block resolutions. Granted I'm not an expert on doge, but one big difference that I know of is the limit of coins that will be minted – bitcoin caps at 21 million, dogecoin is uncapped. That's a rather important fundamental when talking about a currency. I would then point to the communities that hover around either BTC or Doge. From personal observation, BTC is more serious about digital currency as a possible store of value future, whereas doge is a joke / meme focused coin. At the end of the day, a lot of it is marketing, which is why I actually thought Doge would be a possible contender for a 3rd place crypto coin around the time when Elon Musk was tweeting about it. I believe the fact that it is uncapped and that is really is more of a meme coin than anything serious (see the community around it) led to its downfall. It didn't have solid enough legs. |
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