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It's a myth that taxes are what give currency value. Plenty of currencies needed to pay taxes throughout history have hyperinflated into nothing.

dragontamer 4y ago
Its a myth that printing money causes currency to lose value. There are an infinite Dogecoins and yet the value goes up sometimes.
- tromp 4y ago
  There are only a finite number ever. The amount of Doge is limited by time. Unlike fiat, it is disinflationary (yearly supply rate goes down toward 0).
  - dragontamer 4y ago
    There were only a finite number of German Marks in 1923, last time I checked. A very large number, but finite nonetheless.
- plsbenice34 4y ago
  Doge inflation is only on the ballpark of 0.3% per year and will continue to decrease asymptotically toward 0%. It is a very sound policy imo
  - dragontamer 4y ago
    By what measure? DOGE is -53% over the last year, which means its _actually inflated_ by 212% vs the Dollar (or really like 233% in real terms, after accounting for the 9%+ inflation of USD). DOGE inflating by 233% in a single year is horrific policy.
    - plsbenice34 4y ago
      The parent comment was obviously regarding total/circulating number of dogecoins. It erroneously made a hyperbolic claim there are infinite dogecoins. It is a common misconception even among cryptocurrency fans that the number of dogecoins increases at a high rate, because it doesn't have a hard max total supply number like bitcoin's 21 million. In a cryptocurrency context, inflation most often refers to the rate of newly printed units because the price volatility is just from market movements and has often little to do with the monetary policy
- throwup 4y ago
  I'm not sure why you're trying to change the subject to money printing. But thanks for proving my point. You're right that dogecoins have value (for better or worse) and that value definitely doesn't come from any government.
  - dragontamer 4y ago
    Dogecoin has hyperinflated 210% this past year, while BTC has hyperinflated 340% this past year. As far as things with inflation, we should be discussing why Cryptocoins are so terrible at it.
    - throwup 4y ago
      You've changed the subject again--I didn't mention inflation. Are you a bot or are you just parroting random talking points without reading? Since you brought it up, YoY returns are not really relevant for a long-term investor. If you're speculating/gambling on short-term volatility, then USD/VTSAX/BTC have done poorly--but I'm not much of a speculator. I'm very happy with my 10-year returns. As long as you keep wildly changing the subject (this applies to your next reply as well), I'll assume you have no counterpoints and agree with everything I say. I'm glad we can agree!
      - dragontamer 4y ago
        > hyperinflated into nothing You literally said this. Honestly, I'm not sure what subject you want to discuss anymore. But you were the one to first bring up inflation. If you got something to say about my root post, feel free. But you're changing the subject more than I am: https://news.ycombinator.com/item?id=33789831 https://news.ycombinator.com/item?id=33789831

dragontamer 4y ago

Its a myth that printing money causes currency to lose value. There are an infinite Dogecoins and yet the value goes up sometimes.

tromp 4y ago
There are only a finite number ever. The amount of Doge is limited by time. Unlike fiat, it is disinflationary (yearly supply rate goes down toward 0).
- dragontamer 4y ago
  There were only a finite number of German Marks in 1923, last time I checked. A very large number, but finite nonetheless.
plsbenice34 4y ago
Doge inflation is only on the ballpark of 0.3% per year and will continue to decrease asymptotically toward 0%. It is a very sound policy imo
- dragontamer 4y ago
  By what measure? DOGE is -53% over the last year, which means its _actually inflated_ by 212% vs the Dollar (or really like 233% in real terms, after accounting for the 9%+ inflation of USD). DOGE inflating by 233% in a single year is horrific policy.
  - plsbenice34 4y ago
    The parent comment was obviously regarding total/circulating number of dogecoins. It erroneously made a hyperbolic claim there are infinite dogecoins. It is a common misconception even among cryptocurrency fans that the number of dogecoins increases at a high rate, because it doesn't have a hard max total supply number like bitcoin's 21 million. In a cryptocurrency context, inflation most often refers to the rate of newly printed units because the price volatility is just from market movements and has often little to do with the monetary policy
throwup 4y ago
I'm not sure why you're trying to change the subject to money printing. But thanks for proving my point. You're right that dogecoins have value (for better or worse) and that value definitely doesn't come from any government.
- dragontamer 4y ago
  Dogecoin has hyperinflated 210% this past year, while BTC has hyperinflated 340% this past year. As far as things with inflation, we should be discussing why Cryptocoins are so terrible at it.
  - throwup 4y ago
    You've changed the subject again--I didn't mention inflation. Are you a bot or are you just parroting random talking points without reading? Since you brought it up, YoY returns are not really relevant for a long-term investor. If you're speculating/gambling on short-term volatility, then USD/VTSAX/BTC have done poorly--but I'm not much of a speculator. I'm very happy with my 10-year returns. As long as you keep wildly changing the subject (this applies to your next reply as well), I'll assume you have no counterpoints and agree with everything I say. I'm glad we can agree!
    - dragontamer 4y ago
      > hyperinflated into nothing You literally said this. Honestly, I'm not sure what subject you want to discuss anymore. But you were the one to first bring up inflation. If you got something to say about my root post, feel free. But you're changing the subject more than I am: https://news.ycombinator.com/item?id=33789831 https://news.ycombinator.com/item?id=33789831