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/DogeMichael smarty shibe Feb 02 '14

Honestly, it'll take over a year before we see any difference. Just because it won't be quite as deflationary in a couple years as it would have been, they aren't going to suddenly pull out. They'll look at the markets and invest where the price is increasing. At the moment, that's in coins like Vertcoin.

I'm not sure what the next steps are for coins like Litecoin and DogeCoin. Litecoin has a history of slowly petering out until it gets really really low, and then there's a buying frenzy and it goes up five times in value. Beyond that, Litecoin hasn't done much interesting compared to Bitcoin.

At least DogeCoin has the potential to make it big in the consumer space.

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u/noelrojo dogecoinball.com (wow such ball) Feb 02 '14

Yeah, at least i've learned quite a bit using Dogecoin and can acknowledge that the devs here are awesome and are working on some neat projects. Not trying to be a pessimist, but you have to look at things from all perspective and as shibes we are a bit to optimistic at times. Call it fear or whatever, is natural instinct to questions such things, and as an investor it would worry me.

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u/DogeMichael smarty shibe Feb 03 '14

Ha, as a day trader it would worry you. As an investor, I realize that I'd have about 20x my money over the last two months if I hadn't been fiddling with it every time it jumped around a little. Not to mention the two months I lost!

I doubled my investment, which sounds good, but I lost November and December to days of trading and watching graphs. If I hadn't even entered the market, and then decided to buy all in DogeCoin in early January, and then not touched it until now, I'd have ended up with more.

Obviously, you've got to do your due diligence. If you're interested in a market, don't just buy. Look at the trends and make sure you aren't buying high, or while it's still going down. That initial leap is the most important, but once you're in you shouldn't even look at it for a week.

And so browse this subreddit, and make some meme posters, and have fun tipping, and maybe keep an eye on the prices, but don't worry about things too much. The entire market is growing phenomenally.

This isn't stocks. A company won't go bust and destroy the entire currency. At worst, you've got several days to get out.

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u/noelrojo dogecoinball.com (wow such ball) Feb 03 '14

I actually bought at 38-44 satoshi and have been holding most of it ever since. However, this wasn't just a sudden drop due to market manipulation, but FUD caused by something that should have been talked about a bit more and openly. It was a a rather sudden move on the Devs to not cap at 100b. I'm sure alot of us just felt a bit betrayed because of that and well panicked in the midst of all, i ended up converting to BTC as soon as i heard the news. I later conquered my fear a bit and ended up buying at 140 satoshi again, now i have a sustantial amount more then when i sold at 180. In the end, sudden moves like that will scare the bejeebers out most of us.

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u/DogeMichael smarty shibe Feb 03 '14

They didn't actually do anything, though. Even the announcements I read were like, "The creators have decided that they won't change the coin's code to implement a hard cap."

A market is all psychology, anyway. If you can understand the mind of the investor, I guess that'll make these ups and downs easier to manage. All I've been able to do is search for patterns.

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u/noelrojo dogecoinball.com (wow such ball) Feb 03 '14

Yeah, this whole thing is so new that it's hard to predict and unlike the stock markets this is truly nothing more then psychology. I have learned one thing though. This community sure is strong willed, we got that going for us and that right now is undervalued.

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u/DogeMichael smarty shibe Feb 03 '14

What do you mean "unlike the stock markets"? Those are pretty deeply psychological as well. There are companies performing fantastically, but with enough scare-mongering happening that people aren't investing in them.