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Author Topic: DOGECOIN - I just found a problem  (Read 1674 times)
jackg
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December 04, 2015, 10:53:16 PM
 #1

I was on here and found this:
In a message on Github this weekend, Sydney-based co-creator Jackson Palmer announced the amount of Dogecoin would not be fixed, meaning it's possible for an infinite amount of Dogecoin to be created. (This was first spotted by Ars Technica's Cyrus Favriar). Every new "block" of Dogecoin that gets mined will yield 10,000 units of the currency.


In my opinion, this is a very large problem and will force the price of doge to rapidly decrease over time. Meaning, that holding your DOGE may actually be a bad thing!

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(NOTE: Do Not Sell Your Coins Because Of This! I am keeping my thousand!)

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Levole11
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December 04, 2015, 10:55:46 PM
 #2

wasnt it, like, infinite already?  Grin
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December 04, 2015, 10:58:18 PM
 #3

wasnt it infinite already?  Grin

Yes. It was, but I only just noticed it!
The problem being, as new DOGE are released, the value of DOGE goes down (over time) as more DOGE are in circulation!
Bitcoin may have to eventually do this anyway, if they can and haven't locked the change entirely.

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December 04, 2015, 11:04:47 PM
 #4

wasnt it infinite already?  Grin

Yes. It was, but I only just noticed it!
The problem being, as new DOGE are released, the value of DOGE goes down (over time) as more DOGE are in circulation!
Bitcoin may have to eventually do this anyway, if they can and haven't locked the change entirely.

 So you just found out about 'inflation' and want to warn 'the world' about it?
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December 04, 2015, 11:09:54 PM
 #5

wasnt it infinite already?  Grin

Yes. It was, but I only just noticed it!
The problem being, as new DOGE are released, the value of DOGE goes down (over time) as more DOGE are in circulation!
Bitcoin may have to eventually do this anyway, if they can and haven't locked the change entirely.

 So you just found out about 'inflation' and want to warn 'the wonot be enrld' ?

I thought I would warn the newbies to the use of doge coin. I haven't really use it and though that it was like Bitcoin. You Know: Fixing The Amount of Currency, Instead of Increasing it by 25 BTC every Minute! (or 10000 DOGE every minute)! (Based on the amount of time it usually is the limit of creating a block and the reward size)

(DISCLAIMER: I DON'T REALLY CARE IF THE INFORMATION IN THE PARAGRAPH ABOVE IS INCORRECT, I maintain that it may not be entirely accurate but it doesn't really need to be)

Thank you
Jack G

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December 04, 2015, 11:30:51 PM
 #6

It started if a funcoin and it will end if a funcoin. Don't expect anything and it will be funny for me personally.
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December 04, 2015, 11:39:39 PM
 #7

Yeah this is really old news OP  Grin

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December 05, 2015, 02:47:29 AM
 #8

I am not keeping them anyways so with other altcoins, its more beneficial to trade it to bitcoin immediately as I observed drops significantly.
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December 05, 2015, 03:14:35 AM
 #9

Don't hold it, share it.  Dogecoin was meant to be given away.

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ArticMine
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December 05, 2015, 04:34:40 AM
 #10

Dogecoin's so called "problem", a tail emission, will likely turn out to be a very valuable feature. Dogecoin can implement a Monero style adaptive blocksize with a minor at most impact on its social covenant. This would provide Dogecoin with a viable solution to the fixed blocksize problem that plagues not only Bitcoin but a very large proportion of the POW alt-coins.

Concerned that blockchain bloat will lead to centralization? Storing less than 4 GB of data once required the budget of a superpower and a warehouse full of punched cards. https://upload.wikimedia.org/wikipedia/commons/8/87/IBM_card_storage.NARA.jpg https://en.wikipedia.org/wiki/Punched_card
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December 05, 2015, 05:56:33 AM
 #11

Doge is the most overvalued coin in the crypto currency history. The unbelievable supply is too much.
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December 05, 2015, 06:46:46 AM
 #12

one day doge will have mass adoption.. regardless of how many there are, each one will be worth millions of $ usd.  so doge, so good, so many.  no limits.. big bag holder.  now everyone can get more doge.

/not
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December 05, 2015, 09:08:08 AM
 #13

I was on here and found this:
In a message on Github this weekend, Sydney-based co-creator Jackson Palmer announced the amount of Dogecoin would not be fixed, meaning it's possible for an infinite amount of Dogecoin to be created. (This was first spotted by Ars Technica's Cyrus Favriar). Every new "block" of Dogecoin that gets mined will yield 10,000 units of the currency.


In my opinion, this is a very large problem and will force the price of doge to rapidly decrease over time. Meaning, that holding your DOGE may actually be a bad thing!

Suggestions

(NOTE: Do Not Sell Your Coins Because Of This! I am keeping my thousand!)

The last block halving of Dogecoin was in February this year, with no real noticeable effect on its value.
Don't be a tool though, trade your mined Dogecoins to BTC like everyone else and move on - don't pretend DogeCoin is anything more than a worthless alt.

just like a chocolate milkshake, only crunchy..!
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December 05, 2015, 12:17:15 PM
Last edit: December 14, 2015, 06:31:26 PM by Foerster
 #14

Dogecoin inflation was known and widely discussed within the community.
As of today this is still in the best interest of the coin and can be easily changed if there is a need for it.

I personally think that in the long run a constant annual supply of 5 billion Dogecoin per year (5% of the initial 100 billion Dogecoin) is probably a bit too much and I'am sure the merged mining could secure the block chain at much lower supply rates like 1 billion, 500 million or even just 100 million Dogecoin per year (1%, 0.5% or 0.1% of the initial 100 billion).

Below is a picture of Dogecoin's future inflation rates for the next 500 years if they keep supply fixed at 5 billion Dogecoin per annum. The inflation rate still tends to zero, since Dogecoin supply is constant and does not increase exponentially with the total amount of Dogecoin in circulation.


I would prefer if they set Dogecoin inflation TODAY to a number that they would otherwise only reach in 100 or 200 years.

Quote
Dogecoin can implement a Monero style adaptive blocksize with a minor at most impact on its social covenant
How exactly would this work?
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December 05, 2015, 01:01:34 PM
 #15

wasnt it infinite already?  Grin

Yes. It was, but I only just noticed it!
The problem being, as new DOGE are released, the value of DOGE goes down (over time) as more DOGE are in circulation!
Bitcoin may have to eventually do this anyway, if they can and haven't locked the change entirely.

 So you just found out about 'inflation' and want to warn 'the world' about it?

Ahh fuck i just LOL for real ! ..that was hillarious  Grin

And yeah i knew that.. thought we all did.

FUD first & ask questions later™
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December 05, 2015, 01:04:49 PM
 #16

Thats not inflation, thats dilution of the currency.

just like a chocolate milkshake, only crunchy..!
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December 05, 2015, 01:41:39 PM
 #17

This is old news from Feb. 4, 2014 - so I think till today - after ~ 10 months I do not see any large Doge price decreasing. This means with Doge price all is ok.  Wink
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December 05, 2015, 01:46:15 PM
 #18

Cool unlimited Dogecoins Smiley
I use Dogecoin for gambling, it are whole units not like btc like 0.0001 which is annoying.

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December 06, 2015, 05:46:30 PM
 #19

The possibilities of dogecoin are interesting.  The price has not gone down that much so it still has possibilities?

I love Bitcoin
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December 07, 2015, 01:56:46 PM
 #20

There's nothing new in this and this is old news. It's by design.
Dogecoin had its last halving and since then all the blocks still carry a not-too-bad amount of coins.

The philosophy behind Dogecoin was that everybody can own this coin and such amount of coins could make it more suitable to be seen as currency than (the bonds called) Bitcoin.

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