Some people have been perpetuating the myth that dogecoin is more popular than bitcoin cash because it has a higher transaction volume. Watch the video above to find out why this isn't necessarily true.
Is Dogecoin more popular than Bitcoin Cash?
6 years ago in #cryptocurrency by rogerkver (67)
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shitcoins both of them at least doge is funny
Just wait until the Bitcoin.com wallet integrates direct commerce with retailers using Bitcoin Cash. That will be a game changer.
The "Dogecoin is more used than Bitcoin Cash" narrative is faulty but I don't agree entirely with the logic of your rebuttal.
Exchange trade volume does not mean there is more commerce on Bitcoin Cash. It means there is more money being traded every day for the tokens, but in both cases the vast majority of that money never leaves exchanges. It doesn't represent people getting value from Bitcoin Cash (by facilitating the trade of goods and services) but people assigning value to Bitcoin Cash. However, the increased trade volume at least corroborates that there is more going on in Bitcoin Cash than Dogecoin. Yet still not always. Cardano has $5 Billion market cap and $113 million daily trade volume. Yet it is doing less than 100 transactions per day on its blockchain, so trade volume doesn't necessarily translate into anything more meaningful. Similarly Ripple has very high trade volume but pathetic numbers of transactions per day.
I would instead challenge the legitimacy of the transactions that are being done on Dogecoin. Sure, there are more transactions, but anyone can run a bot that chains transactions together over and over. It would not really be very expensive to do, on either Dogecoin or Bitcoin Cash.
If there is legitimate financial activity going on on a chain you should be able to see it in other ways. For example web traffic to Dogecoin related sites.
Dogecoin.com is dead.
The Dogecoin subreddit is dead, with a new post every few hours:
https://www.reddit.com/r/dogecoin/new/
There is far more activity on https://www.reddit.com/r/btc
Given the lack of evidence of activity within Dogecoin, I would say the burden of proof is on those making the argument that the transactions represent economic activity.
I was about to comment the same, but the market cap is a measure of interest and in the video he also shows these 1, 2, bitinfosharts that clearly show there is much more money moving in the form of Bitcoin Cash.
It is clear there is more interest. It's less strong evidence of commerce (other than speculation), because tokens which clearly have no commerce on their blockchain still have a lot of money sloshing around on exchanges.
Median transaction value is itself something easily manipulated on chain. The cost of creating transactions if you send to yourself is not related to the value of the transaction but the physical size in bytes. Median transaction value would also be expected to decline over time with real commerce, because in real world commerce there are vastly more small-value transactions than large ones. Since the median for Dogecoin is $36, it wouldn't be unexpected for Bitcoin Cash to go below that if it were doing large amounts of real world commercial transactions.
The median and average can't prove commerce use of course, but it also doesn't disprove it. I'm not aware how much commercial use there actually is of Dogecoin, but I know of some businesses that only accept Bitcoin Cash.
Something like BitPay and Coinbase coming out and detailing their merchant trade volume in each of the currencies they facilitate would be the best possible evidence.
Dogecoin used to do loads of transactions via the Reddit tip bot. The first one is now defunct (was running a fractional reserve and lost everyone's money), the second one does barely any transactions these days:
https://www.reddit.com/user/sodogetip
There are other doge tip bots on Twitter and other platforms but they're not doing loads of transactions as far as I'm aware today.
Dogecoin actually used to have pretty good merchant adoption compared to most cryptos, but that was several years ago. If you go through this page now they are largely defunct or inactive:
https://www.dogecoins.com/spend.php
In the absence of evidence of any significant activity, I think it's fair to assume the Dogecoin transactions are mostly self-transfer spam.
I pity those who compare bitcoin cash to dogecoin😂. Even Bitconnect had higher market cap than most of the successful projects today, and we all know how that went.
Its pretty funny that Lyin' Ver and the Cashies got all in a twist about Doge Coin.
Doge Coin is a fun meme coin, it never had a head Douchetarian like Ver trying to insinuate itself, or used underhanded tricks that Roger Ver does on the regular.
The simple fact is, Doge Coin was fun and a lot of newbies used it as their first experience in Cryptocurrency.
Meanwhile, Cashies ignore that their own tx volume is pretty flat - over an order of magnitude under Bitcoin.
http://fork.lol/tx/txs
But please, keep on spinning those lies - it just broadcasts how delusional Cashies really are.
Hilarious.
(Supplemental reading - Lyin' Ver's greatest hits -- https://archive.fo/XfYDP)
The Bitcoin Cash vs Dogecoin debate probably not worth to much of your time, I wanted to know your plans or the team plans for EDA problem that is building.... It starting to get rather obvious for those who take notice, it was roughly 15,000 BCH more than BTC, now its over 100,000 BCH, at this rate, the chain would get to the block number halving way before the 2020 timeline...
I assure you that an efficient team is working on this, nothing is perfect, and there is always room for improvement.
There may be an element of ego at work here as well; remember that Dogecoin was started as a joke. Bitcoin Cash fans have an inferiority complex to start with, then compare their beloved coin to a joke? Full on case of butt hurt! ;)
I get a kick out of Doge because I can buy thousands of them and it makes me feel like a whale, but the use case is novelty at best. Bitcoin Cash is clearly a more useful and valuable coin and being it is Bitcoin 3.0 were Litecoin was Bitcoin 2.0, it is already more valuable than Litecoin and has been accepted and used more than Litecoin. It had a meteoric rise for a reason. This is just clickbate whooey to incite some rancor! I have my thousands of Dogecoin and my thousandths of Bitcoin Cash and hodling them both!
Much of the Dogecoin transaction volume is from miners selling off their block rewards. Dogecoin is deliberately structured to have very high inflation & block rewards, so dogecoin miners are selling of their block rewards as fast as possible. As a result, Dogecoin transactions volume is high, and market cap is low.
I can't give a precise answer, but it is obvious that bitcoin is loosing relevance so rapidly and other coins are taking over.
Bitcoincash more popular than doge coin but Peoples are buying bitcoincash because They are thinking price will rise ,dogecoin transaction fees is lower than bitcoin cash , (0,007$ doge coin trancastion fee) because of doge coin transaction volume more popular than bitcoincash...
King Bitcoin, Roger Ver !!!!!
Isn’t the dogecoin project a parody? How can someone possibly compare that to Bitcoin Cash?
Same goes... went at least, for Litecoin. But the comparison is meant to make Bitcoin Cash look pitiful, when in fact it's not.
Yup
Dogecoin will survive for its meme value but thats about it.
Hi guy, i fully agree with your opinion, dogecoin is now more popular and it have new technology!