THELOGICALINDIAN - Billionaire broker and buyer of the Dallas Mavericks Mark Cuban told CNBC aftermost anniversary that Dogecoin has a solid use case as a acquittal adjustment And that the DOGE association is the arch back it comes to Dogecoin as a agency of exchange
What’s more, “crypto villan” and self-appointed “Dogefather” Elon Musk chimed in to answer Cuban’s attitude on the matter.
However, an cold assay of the qualities of “strong” acquittal coins, such as throughput and low transaction costs, shows bigger options do exist.
Dogecoin Use Cases
March this year, as Dogecoin was about to accomplish its ballsy run-up, the Dallas Mavericks appear they would alpha accepting DOGE for tickets and online merch.
The move was somewhat groundbreaking in that it presented a acknowledgment to the naysayers who were agog to point out Dogecoin’s abridgement of use cases.
On that, Cuban said the accommodation to do this was based on annihilation added than the actuality that they can. He added that the allowances of the move would hopefully accompany about absolute PR.
Five weeks later, Cuban tweeted that it was an outstanding success, with added than $122k of merch paid for with DOGE. He additionally said he intends to accumulate every DOGE earned.
Since then, both Cuban and Musk accept connected to reiterate their abutment for Dogecoin.
Last week, Cuban tweeted an action of “special pricing” for merch buyers advantageous with DOGE. While Musk’s SpaceX afresh appear affairs to pay for adverts, beamed into the sky by satellite, application cryptocurrencies including Dogecoin.
Better Payment Cryptos Exist
As abundant as Cuban and Musk advance the acquittal anecdotal for DOGE, added cryptocurrencies are cheaper to use and affection college throughputs.
Data from bitinfocharts.com shows the boilerplate Dogecoin transaction fee comes in at $0.772. Whereas for Litecoin it’s aloof $0.015, while XRP is fractions of a penny.
Similarly, transactions per second for Dogecoin is rated at 33, while Litecoin is 56, and XRP is 1,500.
Dogecoin advocates, Cuban included, would altercate that DOGE for payments is about added than aloof the raw numbers. Instead, as Cuban said, it’s additionally about the association response.
DOGE Pushes Higher
Dogecoin faired abominably during the contempo bazaar dip. From aiguille to trough, DOGE suffered a 58% abatement in price, bottoming at $0.16 in mid-June.
Since then, it has activated this abutment akin on two added occasions. But a abridgement of drive and coercion led some to accept it was all over for DOGE.
Nonetheless, aboriginal August saw a fightback arch to a absolute move aloft the 50-day affective average. DOGE has gone on to body on this drive arch to a 27% accretion back the breakout.
With this changeabout in fortunes, DOGE hodlers accept renewed optimism in hitting the $1 amount target.
