4 ms·

I'd say when the original creator of the "currency" defines it as a joke, and the coin is configured so that ~14.5 million new coins are minted every day... It'

I'd say when the original creator of the "currency" defines it as a joke, and the coin is configured so that ~14.5 million new coins are minted every day... It's safe to consider it illegitimate as an investment. At a minimum, it certainly can't be considered a valid value store, since the amount of currency in circulation inflates at an incredible pace, and without regard to the current value.

tromp 4y ago
I strongly disagree. First of all, whether it's 14.5 coins per day or 14,500 or 14.5M or 14.5B doesn't matter at all, since it's just arbitrary scaling (just like how each bitcoin is really 100B satoshi). Secondly, a fixed block subsidy is an entirely reasonable emission schedule, with yearly supply inflation going down at a steady rate, taking 2 decades to drop down to 5% (better than fiat this year), and taking 5 decades to be the 2% that fiat aims for. In fact, there's one serious cryptocurrency that chose exactly such an emission, averaging one coin per second forever. It's the only coin that doesn't have the current generation hog the majority of (soft [1]) total supply... [1] https://john-tromp.medium.com/a-case-for-using-soft-total-supply-1169a188d153 https://john-tromp.medium.com/a-case-for-using-soft-total-su...
- joshjdr 4y ago
  This comment looks like a lawsuit waiting to happen!
- randomhodler84 4y ago
  100M sats per BTC my dude
Schroedingersat 4y ago
No argument that it isn't a scam, but you appear to fundamentally misunderstand the concept of exponential growth. Adding a linear amount to a pool induces an exponentially decaying inflation rate which becomes negligible after a decade or two. As such, dogecoin is the same fomo/'store of value'/deflationary scam as all the other coins, just skewed a little less towards the first suckers to join the ponzi scheme
Salgat 4y ago
Can we stop with this disingenuous oversimplified "big number bad" argument? Dogecoin is the only major coin with an intentional long term inflation rate comparable to real world fiat. That has merit and novelty as far as cryptocurrencies go, especially if your goal is for it to be an actual currency.

tromp 4y ago

I strongly disagree. First of all, whether it's 14.5 coins per day or 14,500 or 14.5M or 14.5B doesn't matter at all, since it's just arbitrary scaling (just like how each bitcoin is really 100B satoshi). Secondly, a fixed block subsidy is an entirely reasonable emission schedule, with yearly supply inflation going down at a steady rate, taking 2 decades to drop down to 5% (better than fiat this year), and taking 5 decades to be the 2% that fiat aims for. In fact, there's one serious cryptocurrency that chose exactly such an emission, averaging one coin per second forever. It's the only coin that doesn't have the current generation hog the majority of (soft [1]) total supply... [1] https://john-tromp.medium.com/a-case-for-using-soft-total-supply-1169a188d153 https://john-tromp.medium.com/a-case-for-using-soft-total-su...

joshjdr 4y ago
This comment looks like a lawsuit waiting to happen!
randomhodler84 4y ago
100M sats per BTC my dude

Schroedingersat 4y ago

No argument that it isn't a scam, but you appear to fundamentally misunderstand the concept of exponential growth. Adding a linear amount to a pool induces an exponentially decaying inflation rate which becomes negligible after a decade or two. As such, dogecoin is the same fomo/'store of value'/deflationary scam as all the other coins, just skewed a little less towards the first suckers to join the ponzi scheme

Salgat 4y ago

Can we stop with this disingenuous oversimplified "big number bad" argument? Dogecoin is the only major coin with an intentional long term inflation rate comparable to real world fiat. That has merit and novelty as far as cryptocurrencies go, especially if your goal is for it to be an actual currency.