crazy_rabbit (OP)
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RUM AND CARROTS: A PIRATE LIFE FOR ME
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February 06, 2014, 02:20:25 PM |
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I actually think doge is quite good for encouraging people to get involved in crypto. Anyone can mine doge with relative ease, and therefore more than enough doge for everyone. Obviously long term value will suffer, but we don't even know the true value of doge and cryptos yet.
But thanks for the informative posts crazy rabbit.
my pleasure! :-)
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more or less retired.
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cryptohunter
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MY RED TRUST LEFT BY SCUMBAGS - READ MY SIG
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February 06, 2014, 02:22:12 PM |
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they can lower the inflation if they need when the time comes, 1% isn't all that much, i see it as a good move. seems premature to even address it right now.
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crazy_rabbit (OP)
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RUM AND CARROTS: A PIRATE LIFE FOR ME
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February 06, 2014, 02:43:52 PM |
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they can lower the inflation if they need when the time comes, 1% isn't all that much, i see it as a good move. seems premature to even address it right now.
Can they? Technically bitcoin dev's could change the reward to infinite like Doge but in practice they need to get everyone onboard (or over 50% of everyone onboard) maybe thats easy for doge now, but one day in the future, maybe not so much.....
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more or less retired.
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cozk
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February 06, 2014, 03:02:36 PM |
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Man this is going to be epic...
Waiting for the 1 doge = 1 USD crowd to show up.
Said the guy with the BBQ coin avatar... Please... Doge will hit 0.01 soon and that is a realist view.
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Skirmant
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Such is life in crypto paradise
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February 06, 2014, 03:07:02 PM |
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Now that Dogecoin is endless and infinite, it's inevitable that this will depress the price to near worthlessness. I think you're over dramatizing. PeerCoin has 1% annual inflation yet it still was able to sustain the 3th biggest mineable coin marketcap of a 100 million USD. Dogecoin's inflation will become less relevant every year because a fixed number of coins are released which means at some point it will become even less inflationary than PeerCoin.
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elixir
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February 06, 2014, 03:07:09 PM |
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dogecoin is a joke , everyone knows that .
how is dogecoin a joke. market cap number 5. doge has brought a ton of publicity and 1000's a new people to the world of cryptocurrency who would never of known what a crypto was if it wasnt for doge. tell me one other coin apart from the obvious that has done this.
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OPEC oc2E9cQ4StgaMW2a18pKuZGe5h9RZdLL9c ✪ Non nobis solum, sed omnibus! - Franko ✪ Ɖ ~ DSNJ49NdZM4KjLHfPSYEGWKRn7wSC4bWqi
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Ceballos
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WPP ENERGY - BACKED ASSET GREEN ENERGY TOKEN
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February 06, 2014, 03:19:27 PM |
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Doge is man's best friend
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﹏﹏﹋﹌﹌ WPP ENERGY ﹌﹌﹋﹏﹏
≈ WORLD POWER PRODUCTION ≈ | ██████████████████████ ██████████████████████████████ ██████████████████████████████████ ████████████████████████████████████████ ██████████████████████████████████████████ ██████████████████████████████████████████████ ████████████████████████████████████████████████ ██████████████████████████████████████████████████ ████████████████████████████████████████████████████ ██████████████████████████████████████████████████████ ████████████████████████████████████████████████████████ ██████████████████████████████████████████████████████████ ██████████████████████████████████████████████████████████ ████████████████████████████████████████████████████████████ ████████████████████████████████████████████████████████████ ████████████████████████████████████████████████████████████ ████████████████████████████████████████████████████████████ ████████████████████████████████████████████████████████████ ████████████████████████████████████████████████████████████ ████████████████████████████████████████████████████████████ ████████████████████████████████████████████████████████████ ████████████████████████████████████████████████████████████ ██████████████████████████████████████████████████████████ ██████████████████████████████████████████████████████████ ████████████████████████████████████████████████████████ ██████████████████████████████████████████████████████ ████████████████████████████████████████████████████ ██████████████████████████████████████████████████ ████████████████████████████████████████████████ ██████████████████████████████████████████████ ██████████████████████████████████████████ ████████████████████████████████████████ ██████████████████████████████████ ██████████████████████████████ ██████████████████████
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broken_pixel
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February 06, 2014, 04:37:53 PM |
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We do need pennies in the alt currency world don't we?
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GA-990FXA-UD5, 1x 7970L, 2x S1, AX1200i, RIVBE, 2x R290x, NEX1500, BTC: 1G9cQix8bMgh35MQ9wY3Rb9yNSSCtnoRmK, DGC: DFo9FcKYsutv9Vx5c5xUzkrt7VJdECZWTM, LTC: LaAN33aktPGaimN5ALL9kjHjuJekfmKfTh
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ak84
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February 06, 2014, 05:17:04 PM |
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they can lower the inflation if they need when the time comes, 1% isn't all that much, i see it as a good move. seems premature to even address it right now.
Can they? Technically bitcoin dev's could change the reward to infinite like Doge but in practice they need to get everyone onboard (or over 50% of everyone onboard) maybe thats easy for doge now, but one day in the future, maybe not so much..... You do realize that one person unilaterally made the recent inflation decision for doge? That would be the dev founder, and the only discussion took place on github. The vast doge horde which resides on 4chan and reddit had little idea and no input, but they were quickly convinced of the necessity and correctness of the decision and swallowed it up, because 95% of doge users don't understand economics and don't care to either. I think it'll be a lot easier than you think to control doge.
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ak84
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February 06, 2014, 05:18:54 PM |
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There are many problems with your hypothesis. 1) For short or mid term investment, just about every coin is inflating at a rapid pace currently. It's the equivalent of living in Zimbabwe, and that's the nature of non-linear block reward. Doge will actually be inflating less than many other coins for short term interval, and negligible difference for mid term. The dogeflation will be 3% inflation in 2029. 2) Coins lost per year in crypto is a pretty high number. I think even NXT, which has a user base of what? 50 people? that bought an IPO managed to lose 5% already, when the thing hasn't even been out a few months. If you gave a conservative number of 1% lost per year, then dogeflation is only at 2% in 2029, and 1% in 2045. Things like car accidents, deaths, or natural disasters will also cause many coins to disappear from the economy. This is a variable most people just don't comprehend, and it might even be larger than most people think. Think about it, when a person dies and has a wallet laying on the bed, someone will eventually pick it up. If someone dies with an encrypted wallet, that thing is going nowhere. It's hard to believe, but it's possible the dogeflation might not even cover lost coins. 3) Broken PoW system - If your market cap isn't high enough, you can't keep a block chain up with transaction fees only. Doge has now placed itself in a position where it's going to exist forever even if it slips to #20 market cap, while other coins that some might consider "better", are going to fail without enough mining incentive. I was pushing for an infinite, non-zero block reward (1%) on Vertcoin for this reason, which would probably be completely canceled out by coins lost anyway, resulting in the coin having more security through higher mining incentive, while still remaining hyper deflationary. 4) In general terms, a hyper deflationary currency does not create a lot of economic activity because you can just horde money to make money, rather than invest it into a business or other venture. The Doge liquidity will now be through the roof since it has a small demurrage fee. Increased liquidity may lead to increased adoption, which then completely negates the demurrage, increasing it's value over competitors. It's the equivalent of AOL sending out millions of dollars in AOL CDs to everyone on the planet. Yes, it cost them money to do so (same thing as demurrage), but they probably made money from the investment. Doge is now the AOL of crypto. I really could go on for days here. As for 0% vs 1% inflation, the %1 choice has literally no downfall whatsoever, since like I said, the currency would still remain deflationary due to lost coins, and it would only increase block chain security through mining incentive, but the seemingly much larger Doge number may cause it to outperform my safe, 1% choice through some of the not so obvious means I listed. Another guy wrote an article covering some similar, and some different points to mine here: http://theblogchain.com/2014/02/03/dogecoin-is-not-mugabecoin-a-discussion-of-inflation/- The dread shibe r0ach Why are you quoting 2029, which is 15 years from now? So much will have changed by then that reliance on that year's numbers is highly questionable
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cryptohunter
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MY RED TRUST LEFT BY SCUMBAGS - READ MY SIG
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February 06, 2014, 05:58:43 PM |
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they can lower the inflation if they need when the time comes, 1% isn't all that much, i see it as a good move. seems premature to even address it right now.
Can they? Technically bitcoin dev's could change the reward to infinite like Doge but in practice they need to get everyone onboard (or over 50% of everyone onboard) maybe thats easy for doge now, but one day in the future, maybe not so much..... Yes, but i guess persuading doge holders to ease up on inflation to bolster their coin price won't take much effort. It should have been far harder to persuade them to accept inflation and that didn't meet with much resistance. It will probably take some tinkering to get the inflation % correct and will probably have to be dynamic or adjusted perhaps yearly for best results. I see doge team in this matter maybe thinking too far ahead of what is required right now. So i don't agree with the title of this thread in broad terms.
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Kasym
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February 06, 2014, 06:10:48 PM |
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Holy cow, silly rabbit. The inflation of doge is less than the new gold being smelted each year, and far less than the number of diamonds mined.
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hellscabane
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February 06, 2014, 06:23:55 PM |
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Holy cow, silly rabbit. The inflation of doge is less than the new gold being smelted each year, and far less than the number of diamonds mined. Whoa, that's a bold statement. You got any facts saying that the supply of new gold smelted per year or new diamonds mined exceeds 5% a year?
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akaCash
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I learn fast :)
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February 06, 2014, 10:18:59 PM |
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This is just the typical thread full of opinions rather than fact. It's been a comical read, but you failed to address a rather large factor in your little theory. How is it going to be just as profitable to mine long term as the block rewards halve? Not only will you have less coins, but there will be more competition as more and more people try to mine it. To think that would be any kind of realistic threat is somewhat laughable. Look at what has happened in just the last 3 weeks. Kick, yell, and scream if you want, but Doge isn't going to just crash and burn as I see so many of you clowns insisting. There was one thread, I should've saved it, but this guy his username is like tk808 or something titles this thread "Dogecoin will crash in the next 3 days" or something silly like that. Not only did it not crash, it went up in value over the next 3 or 4 days after his thread. You guys need to stop trying to predict everything day to day and just sit back and let nature take its course.
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Any donations greatly appeciated! BTC = 12aSS1d7Sy6MQDmxSZ59kK5uhVL8UjuKdR LTC = LLoxWcXWwnnJ5Mo6xQpFuZcodLyyBxoorf
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r0ach
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February 07, 2014, 01:26:41 AM |
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This thread disappoints in Austrian vs Keynes debate.
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scarface
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February 07, 2014, 03:04:59 AM |
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inflation is the best thing that could had happen to dogecoin
dogecoin will be used as a currency not an asset like all other coins
the community will continue to grow and give away dogecoin to charities, the media attention and growth will continue
trust me once we hit the 10,000 blocks theres no way you will be able to buy a dogecoin for 150 satoshi
buying in exchanges to use and donate will drive this coins price up
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blade87
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February 07, 2014, 03:09:08 AM |
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It's ONLY going to take 14-15 years for DOGE supply to double once the initial 100B has been mined at 5% yearly inflation. Let me say that again... 14-15 years. Now tell me again that this infinite supply actually matters?
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DavidHi5
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February 07, 2014, 03:20:49 AM |
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Doge doesn't seem to abide by the rules of the average cryptocoin. The more it goes against the grain, the more its been working for it... With that being said, unless it keeps reinventing itself, and continues to make mainstream news breakthroughs (Bobsled fundraiser), I can't see the future looking to promising. I don't think the endless supply will be the death of Doge, but I think the novelty will wear off eventually.
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glendall
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PredX - AI-Powered Prediction Market
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February 07, 2014, 04:22:11 AM |
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Dogecoin completely baffles me.
I just don't get it.
Maybe I'm getting old or something.
It's like all the other copy-coins....without any of the benefits.
But it did teach me a valuable lesson: marketing really is really important.
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Kasym
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February 07, 2014, 04:37:43 AM |
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Holy cow, silly rabbit. The inflation of doge is less than the new gold being smelted each year, and far less than the number of diamonds mined. Whoa, that's a bold statement. You got any facts saying that the supply of new gold smelted per year or new diamonds mined exceeds 5% a year? Doge is 3%, and gold is just over 1.5%. On the books. Everyone in the biz knows diamonds are worth nothing, debeers has been sitting on mountains of them trying to hide them all while fools get married. Btw the real inflation rate for most 'western' countries is more than 8%, pushing 15%. You have to look at food prices. Children with no understanding of economics should not baulk at something they perceived as baulkable just to baulk. Dummies. Look it up and learn. People will spend recklessly with thousands of doge but have not, historically, with gold. So adjust for that and add common sense.
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