ITT people are not aware that dogecoin mints 5+ billion new coins every year... On purpose.
Someone may want to correct me but, It was supposed to be an 'error' in the code, but they now claim it as a feature.
This is why it's important to understand that 'holding' only hurts you. Anytime the price dips, buyers rush to scoop up the "sale" but really they're just putting the price back to where it was. It will always be a losing battle.
It was only ever a moonshoot coin for people who bought under .01, now it's a swing trade coin because it's trying to stabilize so that it can be used as money by people.
Things to remember..
doge was built as a joke, never to be taken serious
vendors don't want to associate with a joke, so I'm not sure how adoption will actually work
value is lost every year... So, yeah..
Just get your profits when you see green, and buy when people panic. $1 is no more.
It wasn't an error but the founders created it as a parody. Little did they know, they were creating a disinflationary model that would result in a strong network effect.
Miners will always have incentive to keep the network alive.
The inflation rate decreases each year for dogecoin because 5b coins are a decreasing percentage of the total circulating supply.
Doge was supposed to self destruct after a year. That was part of the point Jackson was trying to make.
Billy made an oopsie, and by the time it was discovered, the community chose not to correct it. Because they were smarter than the people who’ve been calling for a cap ever since.
It has a fixed issuance. Ethereum has a fixed issuance as well but no one seems to care .
Bitcoin is currently inflationary with a promise to be deflationary later. Doge is less than 4% and goes down every year. And something that goes up 1000 or more percent in a year,.. is not about new issuance, it's about demand. One of the most misunderstood things about Dogecoin is that it has an infinite supply. There are over 140, billion doge coin in circulation. Each year 5000,000,000 are added to this supply.
So Dogecoin only has an infinite supply over infinite time . This means Dogecoin is a disinflationary currency.
There is a decrease in the rate of inflation each year. 5% inflation rate becomes 4.99%, becomes 4.98%, etc.
if you put a cap on dogecoin there's no mining. No mining means no rewards. No rewards means unstable coin that can be attacked. Bitcoin will continue to be halved for years until there's no more rewards to be given.
According to chatgpt, Bitcoin has a fixed supply of 21 million and inflation falls to zero over time.
Dogecoin has no cap and adds about five billion coins every year forever.
Bitcoin will be forced to remove its cap sometime before the end of their mining schedule next century. For the exact same reason we can never cap doge.
Doing so would invite 51% attacks which would destroy the currency.
And what happens when bitcoin's annual reward is so low that only the largest nation states can afford to run mining operations to risk such a low occurrence reward? Centralization risk, which will not exist for dogecoin.
It would require imbeciles to change the code and produce a hard fork.
And then the coin would be destroyed in a matter of days, because miners would abandon it leaving the door wide open for a 51% attack.
The people who have been howling at the moon about this for 12 years now totally fail to understand what they’re really wishing for. The end of doge and the total loss of all the money people have poured into it.
Luckily, our devs are not imbeciles, and they totally get why this would be a truly horrible idea.
FWIW, this has been explained in detail thousands of times over the years. There was even a short story over in Bitcoinland about a guy who engineered a successful 51% on BTC that destroyed the coin.
I really must try and find it again… it was a good read.
Because the market cap ignores burnt and lost coins. It factors in the total number of coins ever minted, regardless of what happened to them afterwards.
It’s like when ships went to the bottom of the ocean during WW2 carrying currency. Those coins are still listed as having been issued, despite it being near possible to actually get your hands on one.
The issue is that the aggregators simply don’t see the losses. They take feeds from tracked exchanges and from the network. Neither of which knows what happens to any given coin after it’s created.
The Bitcoiners did some research a few years back, which came up with half of all coins being permanently lost. There’s no reason to think doge is any different. If anything, our loss rate would be even higher, since an awful lot of people were young, silly, disinterested or all of the above. We’ve had thousands of posts here begging for help recovering long lost coins, which was seldom possible.
There is way more money printed per year plus we have crazy adoption in crypto over time. This stable rate of inflation is a feature not a bug that will allow Dogecoin to work as currency.
It has a fixed issuance. Ethereum has a fixed issuance as well but no one seems to care .
Bitcoin is currently inflationary with a promise to be deflationary later. Doge is less than 4% and goes down every year. And something that goes up 1000 or more percent in a year,.. is not about new issuance, it's about demand. One of the most misunderstood things about Dogecoin is that it has an infinite supply. There are over 140, billion doge coin in circulation. Each year 5000,000,000 are added to this supply.
So Dogecoin only has an infinite supply over infinite time . This means Dogecoin is a disinflationary currency.
There is a decrease in the rate of inflation each year. 5% inflation rate becomes 4.99%, becomes 4.98%, etc.
if you put a cap on dogecoin there's no mining. No mining means no rewards. No rewards means unstable coin that can be attacked. Bitcoin will continue to be halved for years until there's no more rewards to be given
That hash rate don’t lie
ITT people are not aware that dogecoin mints 5+ billion new coins every year... On purpose.
Someone may want to correct me but, It was supposed to be an 'error' in the code, but they now claim it as a feature.
This is why it's important to understand that 'holding' only hurts you. Anytime the price dips, buyers rush to scoop up the "sale" but really they're just putting the price back to where it was. It will always be a losing battle.
It was only ever a moonshoot coin for people who bought under .01, now it's a swing trade coin because it's trying to stabilize so that it can be used as money by people.
Things to remember..
doge was built as a joke, never to be taken serious
vendors don't want to associate with a joke, so I'm not sure how adoption will actually work
value is lost every year... So, yeah..
Just get your profits when you see green, and buy when people panic. $1 is no more.
It wasn't an error but the founders created it as a parody. Little did they know, they were creating a disinflationary model that would result in a strong network effect.
It actually was an error.
Doge was supposed to self destruct after a year. That was part of the point Jackson was trying to make.
Billy made an oopsie, and by the time it was discovered, the community chose not to correct it. Because they were smarter than the people who’ve been calling for a cap ever since.
Which is why have always been surprised that a genius like Musk would go hard for doge.
That’s why you scoop on a dip and sell on a peak my guy. Trading 101
Correct, it's a swing trade coin, no longer a moonshot coin.
I don’t know, I think it’s got some more moon shots left in it.
It has a fixed issuance. Ethereum has a fixed issuance as well but no one seems to care . Bitcoin is currently inflationary with a promise to be deflationary later. Doge is less than 4% and goes down every year. And something that goes up 1000 or more percent in a year,.. is not about new issuance, it's about demand. One of the most misunderstood things about Dogecoin is that it has an infinite supply. There are over 140, billion doge coin in circulation. Each year 5000,000,000 are added to this supply. So Dogecoin only has an infinite supply over infinite time . This means Dogecoin is a disinflationary currency. There is a decrease in the rate of inflation each year. 5% inflation rate becomes 4.99%, becomes 4.98%, etc.
if you put a cap on dogecoin there's no mining. No mining means no rewards. No rewards means unstable coin that can be attacked. Bitcoin will continue to be halved for years until there's no more rewards to be given.
Sweet! I purchased it for $0.00265/coin as a joke for my daughter as a Christmas present back in 2018.
You bought in at the perfect time. Congratulations you bastard you won
Well, my daughter did.
According to chatgpt, Bitcoin has a fixed supply of 21 million and inflation falls to zero over time. Dogecoin has no cap and adds about five billion coins every year forever.
Bitcoin will be forced to remove its cap sometime before the end of their mining schedule next century. For the exact same reason we can never cap doge.
Doing so would invite 51% attacks which would destroy the currency.
Go look at what happened to Bitcoin Gold.
And what happens when bitcoin's annual reward is so low that only the largest nation states can afford to run mining operations to risk such a low occurrence reward? Centralization risk, which will not exist for dogecoin.
That’s easy. 51% attack is launched and succeeds. Value crashes to zero and never recovers.
People who’ve lost billions will hunt down those responsible for allowing it to happen, and do horrible nasty things with their corpses.
[deleted]
It’s better than the U.S. dollar…
That does not bode well....
Yeah we cooked
No, it is actually disinflationary and a net positive for dogecoin because miners will always compete for the reward.
Too much will be in production to get dogecoin at a higher price. The money we put in still lose even more value
False. See above. 👆
calculate the annual percentage that is being created and ask yourself why you would use a fiat currency that prints more than that.
This may be the dumbest question ever but can this coin STOP adding coins altogether at some point or is that not even a possibility?!
Of course it’s possible.
It would require imbeciles to change the code and produce a hard fork.
And then the coin would be destroyed in a matter of days, because miners would abandon it leaving the door wide open for a 51% attack.
The people who have been howling at the moon about this for 12 years now totally fail to understand what they’re really wishing for. The end of doge and the total loss of all the money people have poured into it.
Luckily, our devs are not imbeciles, and they totally get why this would be a truly horrible idea.
That helped!
NP. 😎
FWIW, this has been explained in detail thousands of times over the years. There was even a short story over in Bitcoinland about a guy who engineered a successful 51% on BTC that destroyed the coin.
I really must try and find it again… it was a good read.
i like this guy
😎
Better yet. Burn some coins?
Burning does absolutely nothing.
Because the market cap ignores burnt and lost coins. It factors in the total number of coins ever minted, regardless of what happened to them afterwards.
It’s like when ships went to the bottom of the ocean during WW2 carrying currency. Those coins are still listed as having been issued, despite it being near possible to actually get your hands on one.
I see. But then again don't we have something called circulating supply? Or does that also ignore burned coins?
It ignores it, yes.
The issue is that the aggregators simply don’t see the losses. They take feeds from tracked exchanges and from the network. Neither of which knows what happens to any given coin after it’s created.
The Bitcoiners did some research a few years back, which came up with half of all coins being permanently lost. There’s no reason to think doge is any different. If anything, our loss rate would be even higher, since an awful lot of people were young, silly, disinterested or all of the above. We’ve had thousands of posts here begging for help recovering long lost coins, which was seldom possible.
Thank you for the time and effort. Much appreciated
NP. 😎
Ponzi economics.
There is way more money printed per year plus we have crazy adoption in crypto over time. This stable rate of inflation is a feature not a bug that will allow Dogecoin to work as currency.
Ya but money has value. This is a picture of a dog. It works in your tesla so it seems fancy just smoke and mirrors.
doge has a value. a picture of a dog is considered a more desireable thing than the picture of a dead president, for most people.
Anything related to tesla and musk is smoke and mirrors, but that does not change what dogecoin is.
Dogecoin is a boring currency with funny memes to distract from the boredom of finance.
Meanwhile US CPI 2.7% "officially" Doge looking pretty good.
L
It's deflationary
It has a fixed issuance. Ethereum has a fixed issuance as well but no one seems to care . Bitcoin is currently inflationary with a promise to be deflationary later. Doge is less than 4% and goes down every year. And something that goes up 1000 or more percent in a year,.. is not about new issuance, it's about demand. One of the most misunderstood things about Dogecoin is that it has an infinite supply. There are over 140, billion doge coin in circulation. Each year 5000,000,000 are added to this supply. So Dogecoin only has an infinite supply over infinite time . This means Dogecoin is a disinflationary currency. There is a decrease in the rate of inflation each year. 5% inflation rate becomes 4.99%, becomes 4.98%, etc.
if you put a cap on dogecoin there's no mining. No mining means no rewards. No rewards means unstable coin that can be attacked. Bitcoin will continue to be halved for years until there's no more rewards to be given
not really
even if the % decrease of the inflation its still Inflation.
The doge Inflation decrease but will never hit 0%
According to the creator it is
DOGE is limited by the number of coins that can be produced per year.
BTC is limited by an overall maximum number of coins, and halving events progressively slowing the process.
Inflationary only really applies to fiat money printing to cover outlandish government spending of taxpayer money.
🐶☠️💸