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Does "to the moon" mean $1 per coin? If so, how is dogecoin going to create five billion USD per year via coin buyers to pay for its inflation? Unless it mean
by ck2 13y ago
Does "to the moon" mean $1 per coin?
If so, how is dogecoin going to create five billion USD per year via coin buyers to pay for its inflation?
Unless it means something else and I am missing the point?
- girvo 13y agoWho cares! That's the point ;) Also, "to the moon" is a dogecoin reddit joke, it doesn't mean anything in particular
- mkr-hn 13y agoMuch like dogecoin and its relation to bitcoin, "to the moon" is a long-running thing that transcends any single Internet event. To the moon is simultaneously the moon and the path to the moon.
- oafitupa 13y agoA dogecoin joke? Are you serious? Bitcoiners have been screaming to the moon for years. But now it's doge's joke? Is there anything else you want to copy without improvement?
- officemonkey 13y agoSuch wow. So animosity. Doge let Bitcoin have moon too. Many room.
- deleted 13y ago[deleted]
- michaeldunworth 13y agoGenuinely made me laugh. "Many room".
- bogs_carut 13y agoYeah, the thing is that plenty of bitcoiners were screaming "to the moon" without any sense of irony. In the dogecoin community it's a statement that carries an element of self-parody.
- maximian 13y agoNot from what I've seen lately. There are a lot of true believers in /r/dogecoin, and they're taking it very seriously.
- master_shake 13y agoyes my friend, you are misunderstanding the exchange rate. There are currently ~40 million "dogecoins" floating around the internet. All the dogecoins combined are presently worth $55 million USD. Therefore each dogecoin is worth $.0014 USD. Before this announcement, there were only ever going to be 100 billion dogecoin in existence. Now they just decided that they want a 5 billion doge inflation rate per annum, Thereby decreasing the the value of each dogecoin. Its somewhat similar to the way that the federal reserve pumps money into the market to increase the flow of capital, the dogecoin foundation wants to increase the flow of dogecoin by increasing the supply and access and decreasing the incentive to hoard. edit the code was already written to be inflationary. The plan was to implement a 100 billion cap in some future version. They scrapped that plan.
- fnordfnordfnord 13y agoIt's not so bad in theory, at least it counters the deflationary-currencies-are-evil-and-stupid argument. The real worry is that now some entity has been entrusted with the ability to manipulate the value of the currency, and that the entity may violate that trust by later deciding to further inflate the currency.
- sixothree 13y agoEverything about DOGE seems like some bizarre social experiment.
- rodgerd 13y agoThe Jamaican bobsled team are going to the Olympics based on donations from a cryptocurrency based on a set of jokes centered around a picture of a dog from a blog. There is a reason William Gibson stopped doing straight sci-fi.
- sixothree 13y agoMy question is who spent $30,000 to buy all those DOGEcoins?