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Paying 1200+ sats for 1 doge is not value for money. for POLONIEX:DOGEBTC by jamesviggy

Dogecoin was a meme created to make fun of the rest of the altcoin space. If you look under the hood you’ll see why.
It’s not secure, it hasn’t scaled and it’s unlikely to become the base of a new decentralised economy. It’s a fun novelty token that there will always be more of. There is no believable way to cap the issuance of doge, which means paying 1200 scarce and finite sats per doge doesn’t make sense (there will only ever be 2100 trillion sats ). It currently has a market cap of nearly $90 billion compared to Bitcoin’s $1025 billion, making it almost 1/10 the size of Bitcoin .
Two research questions worth exploring to understand doge vs Bitcoin are (1) who controls consensus and what’s stopping them from changing monetary policy and (2) what incentivises and distributes security (why is it that dogecoin relies on merged mining with litecoin). Doge was initially succesful because it helped people understand and play around with cryptocurrency. However it has fallen atleast 5 years behind and is genuinely much harder to use than Bitcoin . Simple stuff like running a node – Off the top of my head I can name atleast 3 operating systems for running a Bitcoin node (umbrel, mynodebtc, raspiblitz), which makes becoming your own full Bitcoin node incredibly easy. Then there’s the wallets, I’ve searched through the dogecoin subreddit to find any mention of an easy to use doge wallet and all the replies are always directing people to use an exchange (which reflects the current speculative nature of the doge holders, rather than being actual users). First rule of Bitcoin is that if it’s not your private key then it’s not your Bitcoin , the same applies to doge. When it comes to Bitcoin there are hundreds of options with many user friendly and advanced mobile wallets for new users, like breez, blue, green, sideswap etc, that integrate Lightning or Liquid (two examples of Bitcoin scaling solutions). Not to mention all the secure Bitcoin only hardware wallets like coldcard and jade, or privacy enhancing wallets like wasabi or samourai, or the multisig wallets like sparrow or specter. Finally there is a misconception in the market that Bitcoin hasn’t already scaled – that’s just false. Sending a couple sats instantly and cheaply between two people has never been easier. It’s significantly faster and cheaper than doge. There’s an entire microtransaction economy booming on Bitcoin right now. It doesn’t make sense to be betting on dogecoin when it’s so overvalued relative to bitcoin . Sure it will probably still retain some USD value going into the future, it might even continue to go up in USD terms. However when it comes to sats , doge is incredibly overvalued.

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