392 karma · joined November 3, 2015
- lower transaction fee's than most other coins, faster processing
- high volume, so it's cheaper to shift from Coin A to DOGE and transfer, than say LTC, ETH or BTC
- it's a pair to trade small cap coins against, which BTC currently fails to do, as the smallest BTC unit 1 Satoshi is $0.0001459864 as of today
I personally have never bought it, but it's more than a meme right now.
>Not true.
Massive gold reserves are still held by all central banks, so I'd say it is true. Gold and the military back the US currency.
From a wired post
But in his paper, Vranken counters that in the 100MW to 500MW range, bitcoin mining requires between 0.8KWh to 4.4KWh per year, but the energy required for mining and recycling gold – which backs US currency – is 138KWh a year, while printing paper notes and minting coins is 11KWh.
http://www.wired.co.uk/article/how-much-energy-does-bitcoin-...