Thread by @itsALLrisky

There is A LOT of misinformation going around about #Dogecoin from mockers and doubters

I want to help clarify the FUD about Dogecoin's "infinite supply" with some of the reasons why #DOGE will succeed

Please retweet this and help spread the word! #DogeArmy

*THREAD*

(1/12) 👇

One of the most misunderstood things about #DOGE is the belief that it has an infinite supply

There are about 120+ billion #Dogecoins in circulation

Each year, 5 billion new $DOGE are added to this supply

So #Dogecoin has an infinite supply ONLY over infinite time

(2/12)

This means that Dogecoin is a disinflationary currency

There is a decrease in the rate of inflation each year

What starts as a 5% inflation rate becomes 4.99%, which becomes 4.98%, etc, decreasing each year forever

The inflation rate becomes negligible over time

(3/12)

Some inflation is arguably a good thing

Dogecoin's pre-determined inflation rate encourages spending, accounts for lost coins, and helps keep the network secure

Here's @ElonMusk describing Dogecoin's inflation as not meaningfully impactful:

(4/12)

https://twitter.com/elonmusk/status/1358648653573992450?s=20

Deflationary cryptos like #Bitcoin reward hoarding and discourage spending

I own #BTC, but I have no plans to ever spend it!

Why spend Bitcoin if it will be worth more later?

#Dogecoin puts the CASH in "Peer-to-Peer Electronic CASH System"

It's meant to be spent!

(5/12)

#Dogecoin's comparably high supply also helps prevent excessive fractions from being used in the way we transact (0.000053 BTC for example)

Right now, everyone can afford a single #DOGE

Unit bias is real, it's psychological

This is one of the reasons why stocks split

(6/12)

@ElonMusk dubbed #Dogecoin "The People's Crypto" partially because you don't have to be a high-roller to own a single unit

Plus, it's up to the people to decide what's valuable, and if folks say that Dogecoin is money, then it is

(7/12)

https://twitter.com/elonmusk/status/1357241340313141249?s=20

#Dogecoin works as a practical crypto for sending and receiving money online

Litecoin and Bitcoin Cash are similar, but they're deflationary, and Dogecoin has arguably better branding

Everyone loves dogs, memes, and community

You can't beat that branding

(8/12)

If Bitcoin is Gold 2.0 and Ethereum is Oil 2.0, then we can think of Dogecoin as the US Dollar 2.0

We need a crypto with relatively cheap fees, fast transaction times, and durable security to be a decentralized solution to sending and receiving money online

(9/12)

Understanding this is part of taking the #DogePill and seeing that #DOGE is a legitimate cryptocurrency with practical utility in a digital future

Look, I'm not a financial advisor, none of this is financial advice, and I'm explaining this to the best of my knowledge

(10/12)

I'm not telling anyone what to do with their money

I just like the coin

If you enjoyed this thread, be sure to retweet the top post to share it!

Also, consider following me for #Dogecoin news, updates, and analysis

(11/12)

I've written extensively about #Dogecoin in the past

You can read all of my articles and sign up for my #DOGE newsletter to stay in the loop by clicking below

Thanks for reading! Be safe! To the moon! 🚀 #DogecoinToTheMoon

(12/12) 👇 getrevue.co/profile/itsall…