Can Doge rally?
Stay tuned......
What is the fact about Doge inflation?
I don't think "5 Billion/ year forever" is correct.
5.25 billion per year I believe after thinking about it. That is correct and it is forever.
The reason being is because think off all the DOGE that will be lost on hard drives that die
and how else would you keep miners mining if they don't get 10,000 per minute for ever
*rolls eyes*
Edit:
Doing math now :-| I'll update this.10,000 coins per minute so,
600,000 coins per hour so,
14,400,000 coins per day so,
5,256,000,000 coins per year.
FOR EVER and ever!
You are correct, and it seems like an insane amount.
It is... I believe the OP said that this coin had a cap (I am like 100% sure of this, but I will work on confirming it.)
The worst part was is that the developers knew that it was set up like this, but they still made the post of a "cap". Billy told me that Jackson described telling the truth about no cap like "ripping off a Band-Aid." (I'm happy to post a picture of the message.)
Jackson is on his FB this evening saying that people shouldn't invest in bitcoin.... This is going to turn into a shit show I fear. I spoke to Jackson about this months ago about this:
Me:
Hey man, when you get a chance if you could please explain the thought process behind not capping dogecoin and do you feel like people were lead to believe there was a 100,000,000 cap in the first place. If I recall that word was on the bitcointalk ect.
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Me:
if your busy no worries of course. I think no cap will cause serious problems. *shrug* who the fuck knows! Hope life is good for you man and tyvm for you time
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Jackson:
hey man
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Jackson:
the code has always been that way, it was just misunderstood
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Jackson:
the 10k block rewards past block 600k will be incentive for miners
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Jackson:
you notice how every altcoin dies after a while?
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Jackson:
that's because there's no incentive to mine
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Jackson:
even Bitcoin/Litecoin will face this issue eventually
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Jackson:
also, people lose coins
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Jackson:
so 5B a year isn't that much in the scheme of things
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Jackson:
when you factor in hard drive crashes, lost paper wallets etc.
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Jackson:
lastly, it's not a 5% inflation rate
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Jackson:
it's 5% the first year, then 4.7% and so forth
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Jackson:
as it's a fixed 10k Dogecoin reward for each block
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Jackson:
not % based
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Jackson:
the goal is that dogecoin gets used as a real currency online and not hoarded for profit like litecoin/bitcoin.
Jackson:
and that it'll give miners enough incentive to keep the network running with their hash power
.
.
February 5th, 5:25pm
Me:
eh... I think you should reconsider and remember than most bought in with the belief of a market cap. If this doesn't work I think there could be legal ramifications against Billy and yourself for misrepresenting it. I am not saying this in a dick tone or anything like that I just really want to see you guys make it and I think dogecoin could be great, but no one is going to use it if it is a bottomless hole and no one is going to build on a bottom less hole. I was planning on blending dogecoin with my bit coin offshore banking system, but knowing that my clients holdings are being diluted 5.256 e9 every year forever is irresponsible. Best of luck with your ventures and I'll buy back when/if there is a cap established! Thank you so much Jackson. You have honestly changed my life man and I will always be grateful for that! When you make it to SF feel free to hit me up! I'd love to go have a beer!
Heres to such profit! *cheers*
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Jackson:
I never sold anything that's legislated as currency, so there's no legal implications ___
Notice how to two underline things kinda seem like they relate.
He never "sold" anything as currency... only marketed it
If the OP said there was a cap and
there wasn't a cap from the start . The DEV's knew that there wasn't a cap from the beginning... it seems to be they bull shitted the early DOGE investors (which luckily worked out well for me at least, but still shitty.)
GOAT may have been right
