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  • DogeCoins Skyrocketing in Value

It was about 11 days ago when DogeCoins was first announced at Bitcointalk.org.
Almost 6 hours after the announcement, I commenced the mining process, hoping that the coin's value would increase in the future.
I mined around 980,000 DOGE, using my Lenovo IdeaPad Y510p laptop (I know it's a bad idea, but it's all I got). I was mining at 100 kH/s using both my CPU and GPU (it's considered a really low hashrate).

DogeCoin is scrypt-based, which makes it ASIC-proof (allegedly there's a scrypt ASIC miner in the works, but it could just as well be a scam).

DogeCoin is based on the widely known meme, Doge, which gave it its potential value among Reditters.
It later had its own subreddit, /r/dogecoin, and received a lot of hype. It spread among tech blogs and news websites like crazy.

Its first exchange market was CoinedUp.com, where it maxed at 0.98 BTC (~$660) per 1 Million DOGE, and averaged at 0.3 BTC (~$200) per 1 Million DOGE.

Yesterday it was added to Cryptsy.com, a well-known cryptocurrency exchange maket, and its value has been skyrocketting ever since, reaching around 2.5 BTC (~$1700) per 1 Million DOGE.

I've had some ups and downs, due to lag and immense load faced my the markets' servers, but I managed to obtain 0.55 BTC (~$370), and I still have some more DOGE in my wallet, waiting to be sold at a higher price.

I've seen a thread about BitCoin here on LebGeeks earlier this year, so I thought I'd update you on what has been going on lately in the cryptocurrency world.
I wish i mined it earlier... I started today, already mined ~500 Dogecoins at 400KH/s, selling them all for BTC

I think the hype will die soon, just like the quark coin two weeks ago and xpm, once the difficulty rise, people will sell and the coin's value will die.

I'm still keeping 100 dogecoins just in case
Have a look at CoinMarketCap, most crypto-currencies are in the green. There is definitely some money to be made with the right equipment, time, an sheer amount of luck.
Heh, this is getting silly. What are we supposed to mine now?
Doge took a 35% hit in the past 24 hours. NextCoin gained 87%. NextCoins are not 'mined' per se, as all of them already exist. Instead, you "forge" for transaction fees (think bitcoin on the year 2140). This is supposedly more environmentally friendly.
Yeah Dogecoin plummeted in the last 24 Hours... I deposited almost 500K into cryptsy.com when the prices were surging at 2.3 BTC per mill DOGE, but the deposits took ages to confirm and I missed out on all the fun.
Now it's teetering between 0.7-0.9 BTC per mill DOGE, and I can just hope it rises back again so I can dump everything and wait for Bitcoin to reach $1000 / 1BTC
cysto which exchange are you using to convert your dogecoins to btc (or usd)?
As I've stated in my previous post, I'm using Cryptsy.com, for it has respectively higher ask and bid rates that other exchanges.
I hope Dogecoin reaches 2 BTC per mill again... Current prices are just depressing
So do you recommend mining Dogecoin rather than Litecoin? I'm planning getting 4 280x's from abroad to commence mining. Hope that brings me 3000 KH/s.
you can use multipool.us, you will always mine the highest profitable coin... but u will have to trade them for bitcoin constantly, coz sometimes they lose their value quickly
Yeah mine Dogecoin now, it's one of the most profitable Scrypt coins at current difficulty and prices:
http://www.coinwarz.com/cryptocurrency

By the way, when you import those 280x's from abroad, could you post the total costs involved in shipping and customs? I'm afraid customs' fees might be too high, thus making the RoI (Return on Investment) a bit more far-fetched.
I'm actually getting the 280x with the help of a relative travelling to Australia for a couple of days. A non-reference 280X costs about 380 AUD (Australian Dollars). And I think 100 AUD = 89 USD, so for me getting these 280X's is considered cheap relative to the power they offer. If Dogecoin's value stays the same or improves, I will break even in 2 months max. I still need a processor and a decent PSU; and I'll have a decent mining machine. Overall I'm throwing a 2000$ investment to obtain 2900KH/s; but the best part is that even if my mining experience goes kaput, the hardware can be used for gaming (so they are still usable, versus getting an ASIC that when renders useless is considered a large paper weight)
Dogecoin is rising again :D Its value has almost tripled in the past 24 hours!
guys, are you still mining dogecoins? if yes which site are you using....I am having trouble with http://doge.cryptopool.it/ thing is I set up my cgminer and created an account and followed all instructions correctly, but when I start to mine on cgminer and start getting accepted shares the site keeps telling me that my account balance is 0....I dont get why...I mined for like an hour the other day and got up to 800 accepted shares (and is 1 share=1 dogecoin?) and the site kept saying account balance=0 :/
20 days later
Just wanted to share you guys something that happened with me today. I was chatting on the dogecoin mining pool freenode channel. Suddenly a user was asking if anyone works in IT. I told him I did. He asked me if I could fill in a questionnaire related to desktop virtualization. Told him I'd gladly do it. When I was done, I sent him the file. He then asked me for my dogecoin address and sent me few 10000's of dogecoins.

It was easy, information in exchange of some cryptos. Hail crypto! :)
going up again, doubled its price in few days and doubled its difficulty
a month later
Wait, Doge ? like the meme doge ? XD i can't believe a currency that is that much valuable has "Doge" in its name ! Oh, internet.
Title is a bit enthusiastic. The released cards are midrange Maxwell cards, nowhere near the high-end cards people mind with. However, the performance / watt is astounding and it might be worth it to get many of those cards instead.

While it's very likely that Nvidia's high-end Maxwell GPUs will continue this trend of performance / watt to an extent, the GPUs aren't yet here, not yet released, and most likely not being held off just because they can, but because it's much more difficult to taper out larger dies without having lower yield. End of year sounds like it, and by that time, AMD might be ready with GCN2.0.

Would be interesting if GPU mining remained profitable till those times came.
True yasamoka. I see this as just Nvidia crying for some attention. Nvidia marketing department at work.