Misinformation that Dogecoin has unlimited supply needs to be corrected!
By - baxtori
This needs more attention if true
It's true to a point. It's definitely not deflationary no matter what OP says. However, the set inflation rate of 5 billion coins a year is less than the inflation rate of the dollar over the last few years and it shows no signs of stopping with how fast we're printing money. Having a set inflation rate means the inflation rate will go down over time as more coins are released, but it is still an unlimited inflationary supply. If the dollar can be backed by the good faith of the US gov and print $6 trillion out if the blue then I don't think our crypto adding a set 5 bill a year has anything to worry about.
What people dont know and those that do are keeping secret is that DOGE is prime candidate to be the official reserve currency of the internet. Everyone with some clue already understands that BTC has been coopted by blockstream and cornered by big banks and thats a big factor in why Elon doesnt want to be affiliated with it, not because of its energy consumption which is a totally different argument.
When you have a finite amount of a tradeable asset with a very unfair distribution and only 10 percent left to distribute you'd be an idiot to hop on as late as Elon did and try to make it a part of your enterprise. Youd be promoting something that is against your best interests because the banks already own enough BTC to control its price just like individuals have done in the past with commodities and the hunt bros did with silver.
This is why you should be weary against anyone that promotes BTC or any crypto with a finite supply and you should be real happy Elon is deciding to work with something else. Even if its not Dogecoin im grateful that he is distancing himself from the bilderburg coin that none of us have any influence over whatsoever.
>5 billion coins a year is less than the inflation rate of the dollar over the last few decades
This is just not true. Dogecoin has a bit over 5% inflation built in from here (and way higher initially), whereas historic inflation of the US dollar is roughly 3%, the government target is 2%, and the current rate is ~ 2.3%.
So dogecoin inflates 2-3x faster than USD.
No need for misinformation.
Not sure I understand where you get the over 5%, 5B/130B is ~3.8%, not taking into account lost coins. What am I missing?
The inflation you are referring to in the USD is it’s measured purchasing power, not the amount of circulating currency. Come back when you know what you are talking about. By the same measure dogecoins purchasing power has increased exponentially in the past year.
USD inflated by 4.6% last year. And the printers are going strong.
Quick maffs is bad maffs
Well that's what people are trying to avoid with crypto that money becomes printed out of the blue just like what what happened in Venezuela, but at this rate what if the United States fail to back the 6 tril new print outs?
It will never be like Venezuela. No need to compare.
I’m from Venezuela. You don’t know what you are talking about 🤦🏻♂️
We don’t talk about politics here. Reported!
this is basic math anyone should be able to do.
While I agree, you know how it is. Some don't know where to look for the info, and some just don't want to learn.
It is very true, Shibe.
For every dank meme that makes it to the top of the sub, we should start pushing 1 education meme about why Ðoge is actually going to the moon.
It’s not *just* hype, it’s ironically perfect as a global currency.
It is true. Whether or not the replacement rate is “deflationary” depends on how many coins are lost. We really don’t know that. It’s safe to assume that it’s in the 1 to 10% range at least. Which could make it deflationary over time.
The math may or may not be correct but the sentiment is wishful thinking at best and misinfo at worst. This coin has no value besides peoples willingness to give it value. That very well be enough. But the amount of doge is so high that for it to have currency level value more people than hold any other single currency in the world would need to hold doge. That would make it the peoples currency and would make it legit. Until that happens it is just a meme. That doesn't mean it has no value or that it won't hit 1 dollar or higher. It just makes it unlikely and risky. I think everyone should have some doge just in case it takes off. But anyone yolo-ing their life savings is a fool trying to get other fools to bail them out.
The us dollar has a higher cap rate than most currencies if not all currencies, with only 330mil citizens and a small % of people around the world outside of the us using it. The number of people needed to make doge that has to be roughly 1/15th of that assuming each person only has one, which is not the case. So that number becomes even smaller. Meaning, around 5-8% of people would need to have doge to reach a theoretical market cap equal to the US. BUT that isn't how things work. Doge needs real world use, the more stores adopt the higher the value becomes. So this cap can only be reached if a certain % of all transactions become doge, and that number is too big brain for me to figure out.
Tldr; math is very there for doge to become real currency, but the math is also dependent on being able to buy things with doge.
Dude the us dollar is the world reserve currency. Most trade commodities are traded in USD. Tons of people and businesses outside the u.s. use it. It also if manipulated by the fed to keep inflation in check. We destroy billions of bills and coins every year and set interest rates wherever they need to be to keep bread lines in the past. Earlier you said it is less inflationary than doge, its just not. You cherry picked facts. You know you did. Unless the team behind doge starts burning coins on the regular it will become THE inflation coin. Being able to buy with doge in person will squeeze the price for the early investors but its always going to come back down unless the doge team fundamentally change its use case. And if it remains volatile idk why anyone would be using it for everyday purchases. Imagine going to get groceries and on the drive there you lose half your purchasing power. It needs to have stability to be a useful currency. Its literally just a fiat currency at this point. And the most people you could realistically hope to use it is like a billion. And that is very wishful thinking. Considering that most people in the world still use physical money and don't even have access to a crypto wallet. Nevermind that better more useful coins will be made to do all the things that you hope doge will and do them better since they will be tailor made for those uses. You're trying to turn an imploding joke into the most powerful currency in the world.do you really think that is likely? I am very supportive of doge mooning but am also realistic of its long term fate. They are not connected.
This is super true. Misinformation campaign. This post helps a lot and needs more attention
It looks like a theme across the crypto world. Everybody hates on coins they don’t own.
The one I see most of is that condescending 'okay, very cute, now dump your silly little meme coin and invest in \[crypto that I totally don't have all my investments in and want you to bump the value of\] like the rest of us \[lit; me\]'
I think most people spreading false narratives genuinely believe in them.
When it comes to the fix inflation the best argument we have is this. The inflation pays the miners which allows transaction fees close to zero. That way DOGE becomes a digital currency for everyday use.
The technical details are not that important but for everyone interested, this article does a great job in explaining.
So our greatest weakness is in fact our biggest strength, I feel like there's potential for a doge meme there.
It never was a weakness. This is just what you have been told. Ethereum has a higher inflation than DOGE and nobody cares.
That's actually very interesting I never knew this
I see it all day long
The drift between the ricks and the mortys?
Edit: I see it everywhere I look, some crypto’s as high as 56 thousand while or precious doge battles every day to cross a dollar
So, do you see doge doing above $1000?
Yes I do, I used bitcoin on the Silk Road when it was .30 and now look at it, I wanna take myself out back n pull the trigger right about now. The only thing stopping doge is the fact that people want to keep doge down like a morty or a factory rick.
I hope you can see the difference between 100 billion of something and 21 million. I would love to see DOGE at $10, but keep in mind that at that price it will be worth more than all bitcoin.
At $1000 it would be worth more than the US economy. Like that is getting a bit ridiculous.
Economy is just an extension of people's actions.. a much larger group of people can drive a different economy higher than the US economy
Inflation is already going on my friend but we’re playing an even old game then any of us can even begin to understand, think about the outcome you’re talking about and think how far fetched it really is
you could buy doge at 0.25c and sell it at 0.60c or you could buy bitcoin at 25,000 and sell it at 60,000? same gains. you want doge to go to 1k because you didn't buy bitcoin at .50c? nah, come on, that would need a market cap of 180trillion, which is twice the market cap of the entire worlds economy. come on, get your reference right. 1 dollar doge!
My thoughts exactly. Whoever created the coin software needs to put a max value to it. It will shut down all big whale haters.
Misinformation campaign? Half the front page threads are to game google search terms for Doge like "1 dollar" "best crypto" and "money".
Also Doge fanatics got coffeezilla on youtube's channel (his livelihood) deleted due to mass reporting by Doge holders after his critical coverage, which thankfully was reversed when an actual human youtube person intervened.
Well written & presented! HODL! 🚀🌖💎🐾
he should have used his "enter" button sometimes though.
Or 'return' if you're one of those fancy Mac users.
Accurate. Thanks for posting and I agree that people just use it to attack the coin without understanding how it works.
It’s very true. Read it before. Doge is #1
Yea, they absolutely will have an inflationary effect, to which you will see when the memecoin hype dies down. Thats isn't to say that doges inflationary nature is a bad thing, its built, by design yo be cheap, easy and usable. The reason there are "haters" is because its z meme coin and its INCREDIBLY volatile. I love doge, dgmw.
using a german keyboard, are we?
Lol too much coffee makes for shakey thumbs
People need to understand the benefit of the extra coins, as protection against 51% attack.
If there is no incentive to mine, hash rate would go down, and making the coin susceptible to an attack.
Not to mention that it gives long-term viability as an actual, usable currency. It replenishes lost supply.. just like the national reserve making new bills/coins.
Passwords get lost, paper wallets get destroyed, people forget about wallets they have. Cryptocurrency is perhaps more susceptible to being permanently lost than physical currency. Fixed quantity coins will never find price stability long-term.
Edit: [Good breakdown](https://provscons.com/is-dogecoin-capped/)
Yes! You need to keep rewarding miners in order to maintain a secure network. Bitcoin is going to run into a crisis in 2140, when the only thing it can use to reward miners is transaction fees. That won't be a problem for Dogecoin.
+u/sodogetip 2 doge
Does this still exist? I have like a TON of these things from years ago.
This one is fairly newer, the old one was u/dogetipbot
Well I’ll be alive in 54 years
It would help if Dogecoin/ the development team provided the facts on dogecoin dot com (presuming that does belong to the Crypto).
You can check the GitHub for dogecoin.
That's my point. This is a Crypto that's opening the industry to a whole new wave of people. Millions in fact. All with varying levels of understanding of Cryptocurrency and probably little in Dogecoin itself.
Many will Google first and the info available, via this method, is very limited!
This limitation breeds the misinformation that's circulating.
You are the team. Feel free to provide the facts. There is no marketing strategy, no business oversight, just community.
I agree. But again, this is how/ why the misinformation is widespread. Because anyone can join "The Team". And anyone can market or put their own version of a soundbite out there.
Ultimately, we all know there's misinformation out there. And we all know that most of it is in circulation to knock the progress of Dogecoin.
A few truths and FAQs from the right people (on the most accessible platform) would quash the misinformation overnight.
I guess they are relying on moving people to Reddit or Discord for more information if you look at the site.
Unfortunately people rarely see the side bar on the Reddit site because most people use mobile, and most people wont know to remove the ugly new reddit look which is hiding a lot of the information in the sidebar ---->
I guess if they can get them here we can try and be those educators.
We should have a sticky on the facts so that new members like me could immediately be educated. More people will HODL and less paper hands.
They have better learn to stop referring to it as a joke coin, they are gonna have a ridiculous time explaining why their money is worth less than our funnymoney, we need to make this coin a coin of good so they slanderers look funny to the average joe.
If this coin wasn't a threat it would of never made it on the news
Thank you for informing me, I was told that and didn’t even second guess. Still hodling tho
I definitely want to believe what you say it would be great for the future of dogecoin in contradiction to what some of these haters tell us. But how do I know that what you say is reliable?
Thanks! It makes sense now. Is it just me or does mining dogecoin seem quite profitable from the block subsidy you get? I do not know much about mining so feel free to educate me.
Just wanted to add to this -
It doesn’t need a cap either.
It doesn’t have an unlimited supply and it doesn’t need a cap.
A supply cap has absolutely nothing to do with the prices of a cryptocurrency. It’s based on (current) supply and (current) demand. A cap has nothing to do with it.
When people say they want a supply cap - what they are saying is that they want to place a limit on the total possible supply of a Cryptocurrency. They point to bitcoin as having a cap, and since bitcoin has a cap, that must be why it is valued so high. Through scarcity. That is partially true, but it’s not because of the cap. The scarcity doesn’t come from having a cap, it comes from having an already low supply and mining amount which reduces over time. Known as a bitcoin halving.
The price is based on current supply and current demand.
Bitcoin has a 18 million supply
Etherem has a 115 million supply
Dogecoin has a 128 billion supply.
What really matters is mining rate and overall supply
Bitcoin - 1.76% yearly inflation 328,000 bitcoin added per year - constant rate - halves approximately ever 4 years - decreasing rate of inflation (with a fixed halving interval)
Etherem- 8% maximum annual issuance of 12 million coins - decreasing rate of inflation
Dogecoin - 4% a 5.28 billion per year - decreasing rate of inflation
All of three of these cryptocurrency have inflation rates that reduce over time because every year the inflation rate is calculated based of the following equation
Inflation rate = (Amount of coins mined per year / current supply) * 100
IR = (M / CS) * 100
The order of magnitudes are different and therefore based on supply and demand the prices are also orders of magnitudes different.
The inflation rate for all three are negligible for the foreseeable future. The important thing is the supply.
The demand can outpace each Cryptocurrencies inflation rate so the price can increase - but it can only increase by a certain amount because the supply has to be taken into account.
That is why Bitcoin is in the $10,000 order of
magnitudes range in price
That is why Etherem is in the $1,000 order of magnitude range in price
That is why Dogecoin in the .10 range order of magnitude range with a realistic possibility of being in the $1-10 order of magnitude range in price based off of current demand.
IT HAS NOTHING TO DO WITH HAVING A CAP OR NOT. Bitcoins cap doesn’t take into effect until 2140 - THAT is when having a cap matters.
Dogecoin will not have a price per coin of ETH and ETH will not have a price per coin of BTC.
But that’s okay - because their supplies are different
That is why price per coin is not a determining factor in a cryptocurrencies success.
That is why all three cryptocurrency are successful even though they have different prices per coin.
Price per coin needs to stop being used as a metric of success and instead focus on utility and brand recognition
BTC utility - store of value (due to interval halving Dogecoin and ETH cannot compete)
ETH utility - Smart contracts and technology (bitcoin and DOGE cannot compete with this)
DOGE utility - exchange of goods and services. (Due to high gas fees BTC and ETH cannot compete)
Thank you for coming to my Ted talk
Another way to see it is at the current price it would cost less than $2.5 billion to buy the entire years supply of new coins if i have my maths right. if we buy them faster than they are created, that will moon it alright. i ignore doge news outside of here, they dont understand that doges strength is in its community.
That's one. The second is... a lot of people underestimate the power of people.
Once (not if) we get Doge past the Moon and head to Mars, not only big corporations but also wealthy countries will see that and start stockpiling Doge like they do with gold. Governments will be buying and holding Doge in billions, thus increasing the price.
Just imagine if today a few Gov'ts buy 10 Billion Doge each.
Honestly? If I was a president of a small country, I would invest in Doge, because it's hard to compete in the fiat world.
This is rubbish
Thank you for your detailed contribution to the discussion.
You agree with it then?
There is no implemented hard cap on the total supply of Dogecoins. Initially, Dogecoin had a supply limit of 100 billion coins, which would have been far more coins than the top digital currencies were then allowing. Nonetheless, in February 2014, Dogecoin founder Jackson Palmer announced that the limit would be removed in an effort to create a consistent reduction of its inflation rate over time.\[47\] In other words, the inflation rate improves over time starting at 5% in 2015 to less than 4% by 2019, 3% by 2027, and 2% by 2035.
Thank you for this!
Idk why people worry so much about if they do keep making more coins. I get the the less coins price goes up, but open your wallet and look at the bills in there. The government has literally been printing money for decades, is that dollar in your pocket worth less?
Not worth less but not more either
That’s what I meant. It’s not worthless, but they continue to print them every day. Same concept as doge, if we want doge to be an everyday currency it can’t be at Bitcoin prices. It needs to be stable so as more people use it and more coins are made you would keep a stable market. I want it to moon, but my point was the dollar is no different than doge. It’s all theoretical money, there’s no gold backing the dollar anymore. There’s whatever the fed says there is, just like doge
Actually yes, a dollar today is literally worth less than a dollar yesterday 😂
Yeh, I was talked out of investing in January by a friend who used this exact argument. Convinced me to just buy BTC instead. I try not to be sore about it, but I could have paid my debts off already if I hadn't listened to it.
Yeah. Same thing happened to me. I’m not mad about it though because I can’t change what already happened. I can regret it, sure, but that won’t do anything. I have since bought 500 coins at .48 as a college student and that’s all I could afford. I spent another $100 at .66 and am at a loss lol. I can’t buy anymore dips so I’m just hoping and praying.
Go with your instincts, I should of pulled the trigger in the beginning of March, but I didn’t, I pulled the trigger at .26 when that was a thing. And have been buying in at every price point dip to get my coin stacked up. I’ve told many people about Doge and they told me the same thing, go to BTC. I missed that train 10-12 years ago, Doge is here to take us away now.
but it still has an unlimited supply, thats not misinformation thats a fact. Now what kind of effect it has on DOGE is a whole different topic.
please, just please use the "enter" button sometimes lol, this is a wall of letters and its not nice to read like this.
Also why this information isnt a sticky on this reddit goes beyond me. We saw this being posted 100x atleast.
Thankyou for this information
actually way more predictable than fiat printing 5billion notes per day worldwide
sailing the seas of misinfo is just a stage on the road to glory
"missinformation" .... i mean... it's literally in the description offered by the first google result https://i.imgur.com/DxPjuL1.png
Isn't an annual release of more coins.... unlimited coins? I believe as opposed to btc which has a finite amount mineable, doge will each year have more available. I know its not unlimited right now, but there won't be a time when it's completely mined.
That's 9,500 Doge every 60 seconds for the rest of time...
The more companies accept doge people are going to want to buy those items and buy more doge in case the price going up, People don’t want to spend their Bitcoin
Thank you, these are the types of posts that need to be upvoted!
infinite coins on the axis of infinite time. 10 billion coins in 2 years on the 130b we have? yeah that's actual reasonable inflation realistic for currency instead of just asset value holding like bitcoin. Bit coin became popular because it was decentralized currency, but it isn't being used as currency, it was a stepping stone for blockchain implementation, that's it. I mean we're even using Satoshi's now because putting 6 zeros after a decimal for every day purchase values is just absurdly ridiculous. 1 Doge = 1 Doge
They supply is very much at a fixed rate. Elon said it himself and 90% of dodge has already been mined up. This is it bois. You missed out on bitcoin? Well don’t kick yourself because you missed out on DOGE. much wow!
The next time I see someone spell lose as loose I'm going to sell my dogecoin
Not unlimited but has 126 billion or something like that which is a ton. Takes a lot of money to even make it move.
Is anyone able to confirm this information? Please. Thanks!!!
Elon said most of the doge coin was already mined in his snl skit. Most didn’t catch this hint.
Yeah I mean people that say this don't realize ethereum and lite coin all work the same way. If you indict doge for this, you also are criticizing Ethereum
This is what I used to believe until this community explained it using actual math.
Yeah it's actually deflationary! How long will this continue including Dogecoin holders that support obvious and purposeful actions by binance to damage Dogecoin by listing and fully supporting coins with .000002 values. How come binance doesn't list safemoon but they list this other coin?
your words are definitely correct , but lok at doge circulation 129.569 billion + 5 billion (each year ) .
now imagine market capacity with 5$ and then 10$ for each coins , Hence we need to find a planet which life is going on by other creatures then asking them to support for only 30 trillion $ , and investing on Doge .
because we dont have that much free money in circulation 😂.
but there is a chance if Doge developer update their anti inflationary rules like as ETH
The mining model needs to go away. It's an environmental catastrophe and unsustainable. It's also completely disrupting the chip economy and really making every piece of electronics ridiculously expensive. If Doge goes to a proof-of-stake model like Ethereum, this will fall in line with the "do good everyday" philosophy, as well as bring up the price.
The media manipulates words to create certain narratives.
He hee heeey!
Dogefamily knows the truth.The PROBLEM IS,the fraking LIBERAL MEDIA IS DOING TO Doge EXACTLY WHAT THE DID THE Donald for 4 FU%\^ING YEARS!!!
The massive inflation of the USD is why prices for 1 BTC or 1 oz of gold are so high. If Dogecoin was inflating it would not be rising in price. If the USD is not inflating then the Euro wouldn't have more buying power than it.
WTF you talking about, the €€ has always been worth more then the $$$, if anything the €€ went down and $$ went up last couple of years.
There were times €1 = $1.30 - $1.50, now its more like €1 = $1.10 -1.20, so i dont get why you think the fact the $$ inflates is what makes the €€ worth more. since the dollar is gaining on the €€, so the €€ has more inflation then the $$.
No, the Euro was not always worth more than the USD. You're right about the Euro having more inflation than the USD at this point in time. That's what makes them less attractive than Dogecoin. Or are you here for something other than doge?
There's an individual user commenting on one of my posts, pushing more of the "dogecoin is unlimited compared to the USD" blah blah blah, and then tried putting the burden of proof on me about how doge is limited. People really aren't educated about the USD or the Fed, it would seem...
Fully agree. It's not limitless, it's a slowly moving cap.
Considering how easy it is to die without putting your seeds into a testament, this actually makes a lot of sense.
I'm not sure I fully agree with this take. The inflation will still be at 2% 25 years from now and over 1.3% 50 years from now. You're saying that this will be sustained by more and more people coming into the market, but that's exactly how *inflationary* currencies work, needing constant growth to be sustainable.
Sure, the inflation will drop to very low (less than 1%) values eventually, but *not within our lifetimes* which is I think an important detail to communicate when making claims about the decrease over time.
Someone told me that there are 2 major whales holding up to 50% of doge, is this true? Hodler still hodling here.
How do people find out this information?
The richest dogecoin address holds 28,36% of the total dogecoin supply;
Top 10 = 44.56%
Top 100 = 66.80%
Top 1000 = 80.92%
Top 10.000 = 89.40%
We are gonna need more Doge once we start populating other planets
Well put, well put!
The truth shall set you free
This!!! Thanks OP
[true or rubbish](https://www.youtube.com/watch?v=enxs11iHBMk)
Good read and great discussion here. I sent the article to a few people.
Appreciate the explanation! This is the way
30 billion coins??? just sort of never mind?
It’s true doge does not have a capped supply.
Much like ETH & XMR that also do not have a hard cap, it has a controlled inflation schedule instead.
Even Elon Musk said on SNL there are 117 Billion Dogecoin and 114 Billion Dogecoin have already been mined.
So once Tesla and Amazon, start accepting doge, we should get a pretty good boost?
Dude I'm posting this to Twitter hope you don't mind I will screenshot it so you get credit
Thank you for the clarification. Did not actually know that
You should format this into multiple paragraphs. People don't read walls of text.
I've actually been wanting to search into this specific topic after seeing it brought up recently. Great timing. Thank you
It is very much unlimited...
Why elon says doge has a circulating supply of 117 billion?
It needs a proper limit though. Otherwise it would go as far as it could do
Biggest cope thread ever
I always make sure to correct people who don’t realize it is deflationary over time. It’s amazing! And way better for the environment than Bitcoin
Crazy to think Crypto has existed now for almost 20 yrs...
So mathematically speaking, the supply is unlimited !!
So it's not UNLIMITED, that changes nothing to the fact that the moment the hype calms that the price will fall. Without people constantly buying and holding the coin it will loose value. Plus the fact that the code hasn't been updated in years means it's a huge security risk. Especially with the development of quantum computing.
What about the energy requirements to mine so many coins?