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Review on Dogecoin by Daniela Theiss
Dogecoin gets the lion’s share of altcoin-related press from the mainstream…
Dogecoin gets the lion’s share of altcoin-related press from the mainstream media, partly because the community frequently does newsworthy things, and partly because its own existence is a story in itself. Dogecoin’s absurdity and resilience get attention.
Pros
- The thing about all these items is that they feed each other. Nearly every attribute listed here is a consequence of another, and a catalyst for another still. The humor drives the community, and the community drives adoption. The low initial value drives tipping, and tipping grows the community. It’s a multifaceted cycle that has proven to be self-sustaining and unshakable in the face of rather dramatic price corrections and internal drama. Dogecoin was, entirely by accident, designed to endure.
Cons
- <h3><strong>Dogecoin is Inflationary</strong></h3> <p>Deflationary cryptocurrencies are designed to, once they are mined out, stop being a viable currency. In practice they are not currencies at all, but speculative investments. They exist to be hoarded and left to grow in value. Dogecoin, once it reaches its soft cap, will experience monetary inflation of five billion Doge per annum. Making sure that, once a currency’s potential value has been reached, a person’s holdings don’t necessarily increase in value gives people a reason to actually spend it, rather than just hoard it until the sun burns out. This is critical for a functioning currency.
