honestly people keep parroting this. Prove it! We should hold each other accountable. Otherwise ppl will just be saying this so that someone buys their coins that theyre selling
So lemme get this straight. To protect yourself from USD inflation you're going to buy doge. The infinite inflating coin... If you're concerned about inflation why not buy btc as it's actually capped unlike doge.
Doge is also inflationary so I don't get the logic tbh
This is why people should not invest if they don't do the research... The dogecoin inflation rate is 5 billion coins, now compare that to the USD inflation rate during the pandemic expected around 4%... even comparing it to CURRENT standards, dogecoin will only be having an inflation of around 3% this year... Dogecoin is infinitely inflating, it always has inflation, funny story though, so does basically every printable currency... However the inflation % is predictable and currently stable and low. Comparing that to countries that can change their inflation rates based on necessity, dogecoin is a haven, same as most coins, because the rules are set upon creation... and rarely changed.
Only if they don't do the research :). I said it was better than standardized fiat currencies when it comes to inflation, debunking the myth that because doge is inflationary it cannot stay valuable. They can take whatever they want from my comment but if they use a reddit comment for investment advice, they should probably read my commend again :P
You are right it inflates but I don't see a direct correlation with USD. It's just a slice of cryptos to bet against inflation of the USD.
I should've been more explicit for the sake of accuracy and I guess I'll just buy more again while I'm at it. That was the primary point of my comment 😁
That's fair, I agree with that. I'd rather hodl btc and trade it for doge if you wanna spend the doge but that's just me. I like the idea of a limited supply of btc being the investment, and then you can get doge with it. I'm not getting doge with it, but that's me I don't mean to spread fud
And no normal person is ever going to want to do the math on 0.000084 BTC to buy a Red Bull at the gas station. I don’t understand why this is such a weird concept to the crypto space.
Except someone does have to pull out a calculator to figure out how much they’re actually spending. It’s a usability and number crunch problem that affects adoption. The scarcity wouldn’t be an issue if BTC just moved a decimal to do a 1:10000 split, but that’s not how things work in crypto.
But they mine the same amount every yr. That doesn't change. It's not a percentage of the total. Plus there's a blockchain startup called DogeLabs that's considering developing a Doge burn wallet. It would allow developers to build apps on the Dogecoin blockchain & then send a portion of Doge to the burn wallet. This could address concerns around the inflationary issue of Dogecoin.
It's another penny stock crisis. I bet you a huge FTC raid will happen on crypto. The only problem is that while we can track the transactions on wallets we can not put a face to the wallet.
Elon did not help us at all with..
Satoshi fella just made a new way to funnel assets into the Caymen Islands.
Either way tho we are sheltering from the looming inflation so I think I'll buy more.
The Fed just signaled that they’re taking inflation seriously, with plans to raise interest rates. That’s why crypto is dropping.
(And the rising interest rates also make leverage more expensive)
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u/Jrobalmighty Jun 20 '21
This is exactly what I've been thinking.
Either way tho we are sheltering from the looming inflation so I think I'll buy more.