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Author Topic: What are your thoughts on dogecoin (technically) being unlimited?  (Read 1076 times)
trashymonkey
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February 21, 2014, 05:22:51 AM
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I know that bitcoins will cap at something like 21,000,000 and then there will be no more created/mined. Dogecoin apparently can be mined forever. At first I thought this was a bad thing, but then I read about how this is actually a good thing over on reddit (reddit.com/r/dogecoin). Obviously the argument was biased, but it just seems like the way dogecoin is doing it is actually better. So anyway, what are your thoughts on this?
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odolvlobo
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February 21, 2014, 06:22:06 AM
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I don't think dogecoin is intended to be thought about. That requires brain power.

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El Dude
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February 21, 2014, 07:18:45 AM
 #3

dogecoin will crash and burn .

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Thylacine
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February 21, 2014, 08:31:14 AM
 #4

Yeah but the video on the dogecoin site was awesome.
giveBTCpls
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February 21, 2014, 10:51:30 AM
 #5

Dogecoin already surpassed BTC in transaction volume. It's destined to be the actual internet money, BTC is internet gold for elitist nerds. In real life no one cares about BTC but i've seen a lot of people being aware of Doge. It's only begining now with the tipdoge app for Facebook, it will go even more viral.
Small increase yearly has no negatives. In fact it helps it to become a currency rather than a store of value.

cr1776
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February 21, 2014, 11:15:51 AM
 #6

I know that bitcoins will cap at something like 21,000,000 and then there will be no more created/mined. Dogecoin apparently can be mined forever. At first I thought this was a bad thing, but then I read about how this is actually a good thing over on reddit (reddit.com/r/dogecoin). Obviously the argument was biased, but it just seems like the way dogecoin is doing it is actually better. So anyway, what are your thoughts on this?

People have a choice:
1. Store value in something that will not lose value through inflation each year
Or
2. Store value in something that looses value every year through inflation

What would most smart people pick? Lose 50%+ of their value every ten years or not?

(And that is just the stored value portion.)

Dogecoin has a meme, that is cute, but it's inflation is a negative.
giveBTCpls
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February 21, 2014, 11:33:06 AM
 #7

I know that bitcoins will cap at something like 21,000,000 and then there will be no more created/mined. Dogecoin apparently can be mined forever. At first I thought this was a bad thing, but then I read about how this is actually a good thing over on reddit (reddit.com/r/dogecoin). Obviously the argument was biased, but it just seems like the way dogecoin is doing it is actually better. So anyway, what are your thoughts on this?

People have a choice:
1. Store value in something that will not lose value through inflation each year
Or
2. Store value in something that looses value every year through inflation

What would most smart people pick? Lose 50%+ of their value every ten years or not?

(And that is just the stored value portion.)

Dogecoin has a meme, that is cute, but it's inflation is a negative.

Thats why no one will use BTC to buy stuff regularly. Do you see people using gold to buy stuff regularly?
BTC has turned into an small elite niche, it will never be global.

OlliBrandt80
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February 21, 2014, 12:09:16 PM
 #8

It's interestiong view on dogecoin as 'internet money' and bitcoin as 'internet gold' (or tulps as some people compare it with tulps). If it is so than it's actually ok for dogecoin to be mined forever

Bitcoin rules!
El Dude
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February 21, 2014, 12:22:56 PM
 #9

Dogecoin already surpassed BTC in transaction volume. It's destined to be the actual internet money, BTC is internet gold for elitist nerds. In real life no one cares about BTC but i've seen a lot of people being aware of Doge. It's only begining now with the tipdoge app for Facebook, it will go even more viral.
Small increase yearly has no negatives. In fact it helps it to become a currency rather than a store of value.

lol go back to /r/dogecoin , no one believes your dogecoin clonecoin crap here.

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giveBTCpls
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February 21, 2014, 01:25:12 PM
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Dogecoin already surpassed BTC in transaction volume. It's destined to be the actual internet money, BTC is internet gold for elitist nerds. In real life no one cares about BTC but i've seen a lot of people being aware of Doge. It's only begining now with the tipdoge app for Facebook, it will go even more viral.
Small increase yearly has no negatives. In fact it helps it to become a currency rather than a store of value.

lol go back to /r/dogecoin , no one believes your dogecoin clonecoin crap here.

Yeah, too bad the reddit is yet another proof this is growing exponentially. Before the year ends the community will be bigger than Bitcoin. Deal with them facts.

Paashaas
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February 21, 2014, 01:53:53 PM
 #11

In real life no one cares about BTC but i've seen a lot of people being aware of Doge.

So you own name is; giveBTCpls but when i read youre post....man you are a big noob with a totaly useless statement.

When i look at dogecoin logo i think; its a starting kit for kids under 15 before they enter the real market of Bitcoin.
de3mka
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February 21, 2014, 02:25:46 PM
 #12

In real life no one cares about BTC but i've seen a lot of people being aware of Doge.

So you own name is; giveBTCpls but when i read youre post....man you are a big noob with a totaly useless statement.

When i look at dogecoin logo i think; its a starting kit for kids under 15 before they enter the real entire market of Bitcoin cryptocurrencies.

FTFY.

But for sure, this forum is Bitcoin oriented, so why do people expect having positive reactions about other coins?

BTC: 16o89714EG9WGyi39NxifutFYk55QkxqQK
MelodyRowell
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February 21, 2014, 02:50:24 PM
 #13

Actually I like the way dogecoin being unlimited, it prevents 51% attack..
giveBTCpls
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February 21, 2014, 03:49:56 PM
 #14

In real life no one cares about BTC but i've seen a lot of people being aware of Doge.

So you own name is; giveBTCpls but when i read youre post....man you are a big noob with a totaly useless statement.

When i look at dogecoin logo i think; its a starting kit for kids under 15 before they enter the real market of Bitcoin.

Except BTC aspires to be a world currency and 99% of people will think it's too elitist just like it happens now, whereas Dogecoin is user friendly. No one will buy microtransaction tier payments (most of the payments worldwide) with BTC. Deal with the facts.

mgburks77
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February 21, 2014, 03:51:32 PM
 #15

Dogecoin already surpassed BTC in transaction volume. It's destined to be the actual internet money, BTC is internet gold for elitist nerds. In real life no one cares about BTC but i've seen a lot of people being aware of Doge. It's only begining now with the tipdoge app for Facebook, it will go even more viral.
Small increase yearly has no negatives. In fact it helps it to become a currency rather than a store of value.

good call

I concur
cr1776
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February 21, 2014, 03:52:50 PM
 #16

Actually I like the way dogecoin being unlimited, it prevents 51% attack..

It does nothing of the sort.  This is talking about mining that continues to have block subsidies forever.

See:
https://en.bitcoin.it/wiki/Weaknesses#Attacker_has_a_lot_of_computing_power
mgburks77
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February 21, 2014, 03:56:24 PM
 #17

The fact is "mining" is just wasting computer power and electricity so for a digital currency to be viable on a large scale that must be changed. Wide scale adoption would simply waste far too many resources.

That is an existential issue for any math based currency
mgburks77
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February 21, 2014, 03:59:44 PM
 #18

Also, you need enough inflation to create liquidity, if you want to use a unit of account as a currency.

hostmaster
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February 21, 2014, 04:02:10 PM
 #19

Also, you need enough inflation to create liquidity, if you want to use a unit of account as a currency.


agreed fully
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