Review on Dogecoin by Mike Grit

Name: Dogecoin
Item: Dogecoin
Rating: 4

May 12, 2021

Most popular Meme Coin.

Dogecoin is great fun starter coin for someone.  Its goal is to go to the Moon and it's been helped by some celebrities most notably Elon Musk.  The coin has no cap on mining, which is not good for two reasons.  First reason is because the coins value will always diminish due to inflation of more coins entering the market.  Second reason, mining has several negative effects.  Due to the large amount of resources required for crypto mining, mining puts a stress on the environment and on computer enthusiast.  More materials are used to create the graphic cards and more fossil fuels are burned to create electricity for the graphic cards when any crypto coin uses mining.  The consumer suffers because the increase demand for graphic cards increases the prices and makes more difficult for computer enthusiasts to obtain a quality graphics card at a decent price. 
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Overall, I think Dogecoin is a great coin because of its community.  I think it could be a better coin if it were to include staking and restrict the number of coins that can be created.  
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Pros