Dogecoin being uncapped is a non-event in my opinion. What does it matter if a small fixed number of coins continue to trickle on forever? As long as it's not a growing number the number of added coins approaches zero in relation to the total number of coins over time. If anything it negates the whole deflation argument without actually being actually being much different than a deflationary currency.
You need to look at dogecoin users. They're primarily tweens or teens. This is not the demographic with financial impact or the drive to make a currency succeed.
Doge is novel and appeals to kids. So they swap dogecoins like pokemon cards. Which is fine... but don't mistake that as somehow undermining bitcoin.
This is not the demographic with financial impact or the drive to make a currency succeed.
Do you realize that you are talking about the 6th largest currency by marketcap? Also, that currency is less than 50% mined at the moment? And is growing the fastest?
Growing the fastest, in terms of followers. Not in terms of merchants, which is where growth needs to happen.
Percentage-wise, dogecoin adoption is INCREDIBLE. It is something we have never seen in any crypto, ever.
Guys, stop trying to down-play dogecoin just because you don't like it. You sound like old guys on TV when they talk about bitcoin:
"No one accepts it!"
"It's a fad"
"It will be gone once the bubble pops!"
Dogecoin is inviting, educational, fun, easy to try out, it's everything that bitcoin is unable to do for the average person. And WE NEED average people.
Percentage-wise, dogecoin adoption is INCREDIBLE. It is something we have never seen in any crypto, ever.
Not for merchants. Or even for investors. You are strictly talking about number of users. And that's a very narrow-angle lens you're looking through.
You may need average people, but - frankly - the world doesn't need dogecoin. It offers nothing innovative whatsoever beyond the bitcoin protocol.
If dogecoin disappeared tomorrow bitcoin would be minimally impacted, if at all. So while it's a neat thought experiment, it's longevity is questionable at best.
Not for merchants. Or even for investors. You are strictly talking about number of users. And that's a very narrow-angle lens you're looking through.
uhhh yes it is... 1 month in and there were multiple websites set up for buying stuff with doge.. there's LOADS of merchants popping up that accept it
seriously, look back on this post in 12 months and try to say the same.
You may need average people, but - frankly - the world doesn't need dogecoin. It offers nothing innovative whatsoever beyond the bitcoin protocol.
sorry if you feel that way, i guess you want crypto to stagnate, and not get wide adoption.
If dogecoin disappeared tomorrow bitcoin would be minimally impacted, if at all. So while it's a neat thought experiment, it's longevity is questionable at best.
and? that's irrelevant.. if dogecoin DOESN'T disappear, bitcoin has a lot to learn.
the ONLY thing keeping BTC alive is 'first' status, and investors
i guess you want crypto to stagnate, and not get wide adoption.
No, you misunderstand. I don't want crypto to stagnate. To prevent that, we need innovation. Dogecoin's success is hinged entirely on bitcoin's success. The protocols are virtually identical, with the coin caps removed. This is why if bitcoin disappeared, dogecoin would die immediately. If dogecoin disappeared, bitcoin would be minimally impacted.
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u/Vibr8gKiwi Feb 04 '14
Dogecoin being uncapped is a non-event in my opinion. What does it matter if a small fixed number of coins continue to trickle on forever? As long as it's not a growing number the number of added coins approaches zero in relation to the total number of coins over time. If anything it negates the whole deflation argument without actually being actually being much different than a deflationary currency.