Sounds great but can you explain me like to a 5 year old how the smart money approaches this (and all similar)? I greatly appreciate it. I am new here.
Since you don't have google: http://www.cryptocoincharts.info/v2/pair/doge/btc/coinedup http://www.coinwarz.com/exchange-charts/dogecoin-exchange-rate-chart
i think it is a great quick trade- they raised enough money to fund the jamaican bobsled team and an indian i believe luger (sp). because of how absurd the main street media will view these "imaginary currencies" financing olympians i expect to see some news stories about them and a nice bounce in the price over the next two weeks- as "any coverage is good coverage" plays out.
The "smart" money so far seems to be the ones who mined or bot BTC 4 years ago and forgot about it until recently. Those who thought they were smart sold out once they double or trippled their money . Easy way for joe sixpack is to go through coinbase.com to buy BTC then either sit on those as a call for the next X years or try and buy other coins as well through an exchange like btc-e or cryptcy.
Everyone knew at the launch Dogecoin was a big joke. The coin has no innovation versus other cyptocurrencies and will not last. Look at some of the other coins like Gridcoin if you want to get in on a useful coin with greater potential.
It doesnt matter if there is a "better" coin that is more useful. There are a ton of coins that are way better than bitcoin, litecoin, and dogecoin, but they have no community. Nothing to draw people to them. And the only thing that makes cryptocurrency valuable is how many people you can attract to help make the coin more valuable. There are currently 50,000 people on reddit that are constantly promoting, creating apps, starting fundraisers, approaching businesses to accept dogecoin, ect that are pushing this coin. 1 month ago there were only 20,000 people doing this. Dogecoin is definitely the coin to get into. Nobody is going to use bitcoin for microtransactions because there are so few coins. Dogecoin has a real potential to be the worlds dominating cryptocurrency for microtransactions. We are the leading tipping crypto out there. Currently our community is working on this for facebook. Need I say more?