Dogecoin Is Surging Again, for Some Actual Reasons | Hacker News Reader

Dogecoin Is Surging Again, for Some Actual Reasons

nymag.com

Had a cold water realization a few days ago that Doge, which has all the functions of Btc, in being non elitist, populist, and easily marketable because it's entertaining might very well be on its way to replacing Btc in market cap. Wall Street doesn't care about the underlying currency just returns; main street is going to like Doge more than Btc because it's not elitist. What's stopping it from dethroning Btc?

>which has all the functions of Btc

My understanding is doge code has old bugs that haven't been fixed since the code is not actively being maintained.

Doge also has no max supply limit, which is a major feature of bitcoin. As far as the deflationary function is concerned, Doge is more similar to the Zimbabwe dollar than Bitcoin.

rnicoll is livestreaming Dogecoin development on Twitch these days, you know: https://www.twitch.tv/rnicoll

This is false information. There is definitely an active development team and the yearly new coin caps are pretty controlled with a decreasing inflation rate that will reach zero eventually.

It's absolutely built to be a real crypto at this point.

>yearly new coin caps are pretty controlled with a decreasing inflation rate that will reach zero eventually.

So there are ~130 billion Doge in circulation, what is the max possible supply and who is setting that supply cap?

My understanding is there is no supply cap and will never be a supply cap just like ETH, which means Doge can be devalued right into the dirt. This sounds like an extremely bad store of value to anyone that has studied what makes hard money.

I expect a lot of people will be burned when this great example of bad money unravels....

The spectre of Doge rising over the major league baseball stadiums marks a critical turning point in nerds conquering Earth.

Nerds conquered the Earth when IBM enabled WW2 (including the Holocaust) using automation. Neither US nor German war efforts could have scaled to that degree without them.

If you want to disagree with that example, I would also offer Star Wars, Star Trek, Steve Jobs, or the X-Men movies as examples of nerd culture becoming mainstream, dominant culture.

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