Who let the #doge out?
Before you let your doge out here’s a short summary of what you’re getting into👇🏽
Before you let your doge out here’s a short summary of what you’re getting into👇🏽
1/ Dogecoin has a huge supply. 129 billion coins.
10,000 coins are mined per minute.
That’s 14 million new coins added to the supply every day, which adds up to about 1 billion coins added every eighty days.
10,000 coins are mined per minute.
That’s 14 million new coins added to the supply every day, which adds up to about 1 billion coins added every eighty days.
2/ #Bitcoin has a maximum supply of 21 million coins.
So, Dogecoin mints more coins every two days than Bitcoin will ever have in circulation.
That’s why doge will never be priced like Bitcoin.
And, in fact, at about $9 per Dogecoin, Dogecoin would equal Bitcoin in value.
So, Dogecoin mints more coins every two days than Bitcoin will ever have in circulation.
That’s why doge will never be priced like Bitcoin.
And, in fact, at about $9 per Dogecoin, Dogecoin would equal Bitcoin in value.
3/ Dogecoin has no real ecosystem to make it valuable.
It is not fast: 33 transactions per second. ETH 2.0 can handle 100,000 per second. So Dogecoin probably can’t serve as a currency.
It is not fast: 33 transactions per second. ETH 2.0 can handle 100,000 per second. So Dogecoin probably can’t serve as a currency.
4/ And hype might push Dogecoin to 69 cents.
Maybe to $1 but there is zero reason for doge to hold that value.
In fact, at $1 per Dogecoin, with 1 billion coins added every 80 days, #doge would need $1 billion in new investment every few month. Just to maintain $1.00.
Maybe to $1 but there is zero reason for doge to hold that value.
In fact, at $1 per Dogecoin, with 1 billion coins added every 80 days, #doge would need $1 billion in new investment every few month. Just to maintain $1.00.
5/ Doge is way overpriced right now.
And Doge is going to have trouble maintaining it’s value due to its always-expanding supply.
If the hype falls off just a bit—#doge will fall, too. And twitter’s algorithm is heavily weighted against repeat trends.
And Doge is going to have trouble maintaining it’s value due to its always-expanding supply.
If the hype falls off just a bit—#doge will fall, too. And twitter’s algorithm is heavily weighted against repeat trends.
6/ If you buy #doge, you are buying hype and Elon Musk tweet energy and nothing else.
So let’s keep the hype up and take this thing to the moon.
So let’s keep the hype up and take this thing to the moon.
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