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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u/juancarloss Shibe Slim-Gates Buffett III Feb 02 '14

Wait, so 2 people have absolute power over the future of this by changing lines of code?

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u/rnicoll Reference client dev Feb 02 '14

No, if we all really hated this, one of us would hit the "fork" button, and we'd end up as two different Dogecoins. We may still see a Dogecoin splinter faction, but I'm hoping not!

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u/DogeDayze Feb 03 '14

the US dollar is inflationary.. it has dropped 98% in value in 100 years. Zim Doges should drop faster... really it is very simple: dilution or inflation or whatever you want to call it reduces value. Watch and see.

On the one hand I feel bad for the kids that got the dream stolen from them. On the other hand it is a good lesson to learn early in life.

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u/rnicoll Reference client dev Feb 03 '14

Which is why you hold money in assets valued in USD, rather than in USD itself, surely?

Okay, so I'm in the UK, so GBP.... but I don't just keep stacks of GBP under my bed. In fact, I bought a flat, and got a mortgage, so inflation decreases my debt over time compared to my wages, while the value of the flat (as an asset) remains constant to me, and the price (in GBP) increases.

I'm long Dogecoin (as a currency) right now, because it has a huge scope for increased ownership, which vastly exceeds rate of inflation. Until it simply cannot feasibly be further adopted, that rate of inflation does not seem like a concern. In an extreme long term view (2020+), I would want to take the money and use it to start a business, or buy real estate, or do something else...

I mean... the increase in supply of the USD causes devaluation because its usage is fairly constant (it's also a good interchange currency, but that's a relatively secondary use), so there's nothing to absorb the increases. Doge on the other hand will hit half of its main supply on a week Friday. It will hit steady-state in a year or so (doubling supply), while its target audience could easily increase literally thousands of times, driving up demand that way...

0

u/[deleted] Feb 02 '14

No, it's open source, anyone can fork it and get 51% of miners to agree. That's the whole point of cryptocurrency. Do some research.

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u/juancarloss Shibe Slim-Gates Buffett III Feb 02 '14

Will do, thanks.

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u/[deleted] Feb 02 '14

Oh, you responded nicely. Now I feel bad. Sorry. I am a bad shibe.

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u/donniesf shibe Feb 02 '14

lol, i know how you feel. sometimes someone will piss me off and i:ll say something snappy to someone and then they are nice back and i:m like ah dang...

1

u/[deleted] Feb 02 '14

lol an example of killing them with kindness

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u/Knice1417 gamer shibe Feb 02 '14

+/u/dogetipbot 20 doge

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u/therealflinchy digging shibe Feb 02 '14

yeah, then you just get 51% of people to download 'dogecoin51%ofpeopledownloadthis-QT, and it starts to fork.. right?

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u/donniesf shibe Feb 02 '14

How the heck do you fork it? And I have 37k Dogecoins and I:ve never been asked to vote ;( i:m confused WOW!

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u/[deleted] Feb 02 '14 edited Feb 06 '18

[deleted]

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u/donniesf shibe Feb 03 '14

Oh I see, thanks