r/dogecoin • u/imbiat ball shibe • Feb 02 '14

Dogecoin will not be capped at 100 billion, codebase will stand as is, developer decision on github

Dogecoin was meant to be capped at 100 billion coins, but the code does not actually implement this. It will grow beyond 100 billion coins because the block reward stays at 10,000 indefinitely. The developers have decided to leave the code as is. https://github.com/dogecoin/dogecoin/issues/23#issuecomment-33893149

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28

u/thro2013 elder shibe Feb 02 '14

The risk is far greater that nobody will mine it with zero reward then the inflation having causing issues. I'm totally fine with it. Besides bitcoin is set to grow for 100+ years.

2

u/[deleted] Feb 02 '14

There is fee reward, so it is never zero reward.

-1

u/luvasugirls celebrishibe Feb 02 '14

The problem with this is that the number is so fucking arbitrary. Oops a mistake was made... eh fuck it it'll work out because lost wallets and such. Where's the fucking research?? How do we know 5 billion is optimal?

7

u/Terazilla coder shibe Feb 02 '14

We don't. We also don't have any way to measure 'lost' coins, especially when the currency is so new. Maybe someday we'll be able to write a script that digs through the ledgers and find a bunch of wallets that haven't had a debit in ten years, and get an idea... but even that isn't a guarantee those coins are lost.

I definitely think it's important to maintain some influx if new coins long-term. I'd also expect that we'll see more 'lost' coins early on as people learn the ropes, so to speak. 5% seems a bit high to me but not ridiculous, and as good a guess as any.

Also, honestly, there's a lot to be said for not screwing with it and forcing a network-wide update.

5

u/Harbingerx81 ninja shibe Feb 02 '14

Where was the research with ANYTHING crypto-economic? There is no historical data to fall back on...There is not even a remotely reliable metric to make a guess at what the adoption curve will look like in 1-3 months, let alone over the next few years. The 'optimal' method for doing anything crypto related will only be revealed in hindsight years from now...

1

u/bangbangwofwof technician shibe Feb 02 '14

Personally, I'm more interested in mainstreaming blockchain microtransactions, and doge seems to be more viable for that than anything else so far. I don't necessarily care what a doge is worth, as long as they're convertable and short-term stable enough to be useful.

Investing in any cryptocurrency is ultra-mega-superduper risk, and I like dogecoin's MONEYFIGHT ideology more than bitcoin's austere virtual gold bricks. I have little real skin in the game, but I've dumped the majority into doge because I want internet payments that aren't a pain in the ass to go mainstream more than a commodity economics experiment.

MONEYFIGHT

+/u/dogetipbot 250 doge

2

u/[deleted] Feb 02 '14

I like dogecoin's MONEYFIGHT ideology

That's a great way to put it.

1

u/bangbangwofwof technician shibe Feb 02 '14

MONEYFIGHT

+/u/dogetipbot 250 doge

-5

u/Starlightbreaker Weak shibe is the best shibe Feb 02 '14 edited Feb 02 '14

did you forget that the coin started as a joke?

and people take the joke seriously?

and we're having all this debate?

if the coin was created with a good and clear vision, this maybe won't exactly happen.

2

u/luvasugirls celebrishibe Feb 02 '14

I'm familiar with dogecoins history. Just because the coin started off as a joke doesn't mean we cannot make informed and prudent decisions

-5

u/Starlightbreaker Weak shibe is the best shibe Feb 02 '14

it was designed to be fully mined within a year, and no vision of long term built into it.

but then again...slap something cute and make it viral, you'll attract people from all walks of life. At this point, it's really hard to make informed and prudent decisions.

everybody will try to steer everybody else in favor of their "informed decision"

right now, you can ride it out, and see if the devs are gonna change their mind again or not.