How is Dogebook different than Facebook? I mean you can create an account in both, follow your friends, "like" stuff...etc. They are essentially the same so they must both be worth billions, right?
What makes bitcoin different is the network effect and the infrastructure - there are many people who think bitcoin is the cryptocurrency and this is a self-fulfilling prophecy. Some day another cryptocurrency may overtake it but for now it's the one because people say it's the one.
That depends what you mean by "works better as a currency." Considering you need two parties for what I would consider a useful application of currency, I'd say Bitcoin works better.
Right, so chances are dogecoin is and will remain lower-valued than bitcoin in the aggregate. That's relevant how? Surely multiple virtual currency bubbles can exist concurrently.
It's not. It's identical with a slightly modified POW and some of the values tweaked. The incompetent developer has already accidentally broken the currency once, so it doesn't really bode well for it in the future.
Eh? The chain broke because the author made a hard forking change with 10 days notice. You can't do that. Bitcoin staged theirs over months and still managed to leave some people behind. It's not FUD if it's true.
It is different from BTC - it's a fork of Litecoin, meaning it uses scrypt rather than SHA-256 and cannot be effectively mined using BTC-oriented ASICs.
