A PERFECT STORM FOR DOGE:
Hey Everyone,
Here I am again writing about DOGE, but whether you love or hate the Doge pump it's not as crazy as it first seems and shows a perfect picture of why marketing, brand recognition and hype matter.
In this case I would add luck and timing as a factor, but either way, I think the DOGE pump could last a while even if it seems odd to all of us.
If you remember a recent story about a group of traders on Reddit that were pumping Gamestop. r/WallStreetBets a Reddit group began to pump Gamestop basically to stick it to the rich men who run wallstreet and go long to oppose a short. Some of you will remember DOGE got brought up in that same time and Elon did some pumping of it as well.
Those of us already in crypto either laughed or played along with the pump and dump, but few took it seriously. Let's remember though, most of our friends are not that into the crypto world and likely only know Bitcoin as crypto.
Until the gamestop pump in which the whole world of normies were happy to see see some underdogs winning, and one of those underDOGs was DOGE.
Fast forward a couple of months to the Coinbase IPO, which also got a lot of main-street attention. Many normies signed up for Coinbase to get their new cryptos...
WHAT DID THEY SEE?
They looked at a confusing list of names of crypto, they knew 2 names, BITCOIN and DOGE, one was priced at $60,000 and the other at $.25. One of the names is associated with fighting for the little guy. #DOGE - Guess what most of them did? They bought DOGE
Now it becomes a self fulfilling prophecy as the price grows and the excitement grows it takes on a life of it's own. #doge isn't getting the crypto crowd as much as it is on-boarding new crypt-holders. Also as we all know from arguing with bankers, it doesn't need to be backed by anything but the agreement that it holds value and a cute DOGE MEME.
Many of you will now tell me all those people will get hurt, but I disagree. Most will start to learn and diversify as we all did. I also think the impact of this perfect storm for DOGE will last this entire bull season and DOGE will perform just fine. In fact I think the project will be forever altered by this storm, much the way a storm can change the path of rivers and take down trees that will never come back.
For the record, I'm not buying DOGE, it would be late, but I do think they went through a paradigm shift in branding and name recognition that goes well beyond a pump and dump and will change the token forever.
There are more normies than OGs, and they have none of the history of crypto, they don't know Dan Larimer, Satoshi, or many of the same stories we know. They have their own stories and emotions. Since they outnumber us their stories eventually will win.
WHY DID YOU MENTION HIVE?
I don't write much about Hive anymore, but if you look at what a group of normies can do when they enter and change the market every bull run. It might make you remember they don't know or care about Steem, Dan, Ned, Justin Sun, etc. They care about an easy to access blockchain that has activities they know how to do. A price they can afford and something to do while they learn.
Hive has a front door, easy to remember wallet names, and allows one to get hand on experience doing tasks you already know how to do. Posting, playing games, trading, etc.
I guess maybe it is up to Leofinance to play this game, but just remember how quickly things change and how the Noob market is much larger and more powerful than the current crypto market we seem to be trying to attract, and they are easier to get than developers who are working on other projects if they are any good at all.
Maybe we should stop using so much crypto jargon and focus on some easy to access content creators who want to learn how to get involved. NAH. :) Just food for thought
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And this is the part where that 'idiot' @NoNamesLeftToUse steps in to say: "Consuming! Don't forget consuming! Super easy! Everyone does it! Some of them might want to buy some tokens! Make the first steps in the door the easiest! Not everyone can post but they know how to leave comments and push buttons! And oh look! That pays! Doesn't pay anywhere else! Maybe we should at least mention it? Please? No? Okay fine. Go back to calling it 'allocating inflation' and making it boring again..."
Hi. Would you like to come and allocate some inflation with us? Think of it like driving except remove the fun part and call it 'allocating fuel to the engine.' Beep boop beep boop.
Oh, you mean the ones who could set themselves up with a solid revenue stream since the simple act of donating can be stretched one hell of a lot further if the funds are staked instead?
No. Let's not talk about that either.
I'll shut up now.
YES and YES.. Consuming. That is a key component that I forgot. Also just messing around online, asking questions making friends, but consuming is a big deal.
Want to bet some cryptokids tell me: We tried that and it didn't work.. lol
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Oh. The ole we tried that and it didn't work line...
Heard that one before. Haven't seen the attempts though...
Five whole years of attracting people on stage and forgetting about the seats that surround it. Meanwhile money exchanging hands from content consumer to content creator has done nothing but turn into billions of dollars in that time. And the middleman is just loving it. Stakeholders here could have been that middleman, all while nobody is getting ripped off.
"But who wants to spend money on the shit posts here!"
Uh. NO. Your posts are shit (not you, whatsup. Just talking to my imaginary friends who've been saying that for years).
Geez. Did I just get triggered?
I can't tell you how many times I wish I could get in a room and explain the process of branding and hyping a project on a national level, how many ways I see to do it and how lacking the efforts have been.
I know I too am arrogant, but I don't have millions on the line. I'm always shocked they are so closed to what you can already see we once started in 2016
It's a frustrating ride to be on. Pitching ideas in a decentralized world is often met with that centralized mindset. It's not about taking the reigns though. Not 'my way or the highway', it's here's one road we can take, here's another road, this one looks nice, all useful for something. Multiple roads, different angles, all leading back to the same place that benefits from all this traffic.
But you know what? It's not something I'm willing to give up on. And this mindset isn't based on some stupid crypto tribalism nonsense. It's that goddamn potential that's so much more than just crypto. I know these developers are proud of their inventions, and rightfully so. But wtf is a car with no paint?
DOGE is showing incredible network effect.
You might be right, this show could go higher.
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When people disparagingly call Doge a Meme Coin, I have to step in and say something. It is simply an accessible and entertaining gateway to crypto originally with a huge group of nerds behind it.
Now, it is a brand with global momentum. Meme that!
I love what it means for the little people, for crypto in general, and most personally for Hive. With our small but strong community and solid blockchain, people will find so much more than a crypto they can buy for a buck.
I think it is all good and I may be jaded for the speculative purchaser I made of Doge before the 🚀
Just don't forget how the inflation works. I definitely don't see it going back to a penny.
No way in hell.
If anyone thinks a bunch of internet brokes are going to sell their lottery ticket to doge millions and this is the last pump you will see of doge, I will buy your Doge at a discount!
We lost our Steem brand.
We are still figuring out how to stablize HBD in the greed filled market.
Large stake holders, Top 20 witnesses and DHF fund projects/people rarely Tweet HIVE.
It's time to wake up. 5 years with no Growth.
HIVE needs fresh new investors and big crypto partnership.
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I don't see Hive doing it I see one of the tokens of hive doing it instead such as LeoFinance, Splinterlands etc have been doing. Only takes one good popular game or platform that would make Hive price a huge success. I love how some of the higher ups trash talk steem yet steem is kicking our ass lol no one really cares about anything besides price when it comes to crypto.
I couldn't disagree more.
Hive is like the magazine rack or a big department store. All these little side projects are the magazines or departments. One can't even fire up a new 'magazine' without having a rack to put it on. One successful product isn't going to carry the rest. Especially not in a decentralized world. If that one product fails, then everything fails. Hive can't depend on LeoFinance or Splinterlands or NFT Showroom. Those projects need Hive. Hive needs consumers. Put them all in one place and their interest spills over onto every other product available. If someone shows up because Spliterlands or some other yet to be developed game caught their attention, they find their way to a central hub, then take another road over to 3speak to see what's there. Then maybe they want to spend some money there, too. Without that central hub, all these projects are segregated, distant, and can't feed off each other. That's terrible for business. People go to department stores for a new toaster and leave with three bags of stuff for a reason. And it's a damn good reason if you're interested in making money.
And Steem is a piece of shit. It's all smoke and mirrors.
They have posts trending there for hundreds of $ for a couple of lines and a stock image. :/
That's not 'trending' though. They're buying votes. Those shit posts are their paid promotions. They basically spend a bunch of money to make themselves look like idiots. Caters to the moronic and those suffering with inferiority complex.
I just wish that newcomers would see that it's a big scam and get redirected to Hive
It's better for Hive if they get screwed, waste time, and find out the hard way. Look how well some alternative platforms did once the talent left for greener pastures when this community was busy selling votes/self-sabotaging.
I know, and I know I shouldn't bother to pretend they will change their minds and focus some day, but I can't help but to get sad about the lost potential sometimes.
LEO will rebound when they put their focus back on that project as they are pretty consumed with CUB right now. (rightfully so) but they need department heads or something.
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Those are certainly some interesting thoughts. It makes a lot of sense what you are saying about Doge. I personally would never buy any either, but that doesn't change the fact that it keeps going up and performing well. It will be interesting to see if this plays out the way you have laid out here.
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Over time Doge will run up against Inflation vs Hype. which will win?
Looks like it might already be settling down.
The intangibles are lost on some people. Not everything is driven by code.
Not even half of the equation in an emerging market is code. Code matters, but the stories you tell of why you are coding are the most important.
Humans ARE driven by emotion. Even with money
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Well, Doge can be mined with ASIC, is strongly supported by the LTC people, known for being a Bitcoin Fork. There's a lot of stuff going on in favor of Doge, not to mention that Musk wants to make it an official currency for Mars, which is kind of a big deal?
Currency on Mars! Whoot
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He's stated that multiple times already, it's also in the books written about him... I mean literally since years already - not really 'news'.
"The most entertaining outcome is the most likely." - Elon Musk
"Responding to a Twitter thread started by AI researcher Lex Fridman, Mr Musk agreed a “Mars economy will run on crypto”, suggesting it could be with the novelty cryptocurrency dogecoin or the fringe cryptocurrency Marscoin." ... "Dogecoin could be a more likely candidate, given it continues to be relatively popular and shares many of the same decentralised attributes as bitcoin.
A lot of people did notice those articles, they're all over the www.
Yah dogecoin been the fun coin of cryptocurrency world is blooming like crazy
I personally thought dogecoin has no future because they know team sporting it but I guess the community is supporting it almost like Hive/Leo and other tribes on hive
Me encanta!
No way!
Way
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Wow! Insightful!
I have just published in Leo an article about that, but you got it so precise.
It's always good to come by and read your articles.
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Thanks I'll read yours as well.
Hugs!
I hope as you said we could get the lesson
working hard and good projects not enough today to make monument
We must pay attention to the media hype
See What Happened With Safemoon And Doge Over 20x
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Dogecoin has always had value for the general market, even when it was first developed it was already better than Bitcoin (speed and fee wise). Now soon, Dogecoin devs may have to balance the fees to something reasonable IF Doge ever breaks more than a dollar.
HIVE is a perfect blockchain for Social Media and already has many applications. But currently it is almost invisible to the mass. When I show this blockchain to people, people are attracted, but they all say "I've never heard of it"
Yeah as a collective we've been terrible at the marketing and hype game.
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Hive should use some sort of marketing strategy, as some tokens per referral. That would attract a lot of users.
Well I can't wait to hear what the marketing firm advises to @lordbutterfly
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I share the articles I do on HIVE on twitter, but there is none of my real friends who use TWITTER. I don't know how effective this action can be.
mildly effective at best. Crypto twitter is fun and all, and it certainly doesn't hurt. But there is a world beyond Twitter especially when most don't have huge followings on twitter.
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lol