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Comment by steveklabnik | Hacker News Reader

> has almost a $10 million market cap

A few days ago, I was talking to my co-workers about DOGE, because I'm pretty into it. This morning, when I walked into work:

"Hey, remember how I was saying DOGE had a $2MM market cap the other day and you were laughing? Today it's $12MM. It's now the 8th biggest altcoin (and is almost 7th)."

http://coinmarketcap.com/ has the whole list of altcoins and the numbers and graphs for them, if anyone is interested in this kind of thing.

DOGE specifically has changed my entire perspective on cryptocurrency. It's incredibly interesting.

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Perhaps the market cap is based on one purchase of 1000 DogeCoin for $1.50.

Nope. On Cryptsy it has a 24 hour, 2900 BTC trading volume so far.

This happened early on, but there's pretty significant volume being traded. A quick add-up of a bunch of the orders shows about 40 BTC that you could actually get. And there's one seller on Cryptsy willing to buy 44 BTC worth of DOGE alone.

https://coinedup.com/OrderBook?market=DOGE&base=BTC

https://www.cryptsy.com/markets/view/132

Is this a subtle joke or are you serious?

Dogecoin changed my perspective on cryptocurrencies personally. I battled with the concept of altcoins: why they have value, and whether they aren't just taking away the value from one cryptocurrency. The change it instilled is that crpytocurrencies can simply function as an investment in an any idea/concept/theme. So far all coins were "arbitrary", centered around vague ideas: 'feathercoin', 'litecoin', etc. Some had technical improvements, but its power were just a belief. Dogecoin is the first coin where there is a much more clearer purpose behind: that of the doge meme. It means we will start seeing a cryptocoin for anything and everything. It's a way to create a world of public shareholding... of anythin.

Memes are, almost by definition, temporary fads. That seems like a terrible thing to build a currency around. What happens when people get sick of Doge?

The fact that you have to ask that question is part of it. I really need to do a writeup on it, I've been too busy.

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